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        <name>AEP Texas, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>AEP Texas, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-10-15</maturityDt>
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        <name>Southern Co. Gas Capital Corp.</name>
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        <title>Southern Co. Gas Capital Corp.</title>
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          <isin value="US001192AK93"/>
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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>2043-06-01</maturityDt>
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        <name>Aon Global Ltd.</name>
        <lei>VVT2B79I2Z4U3R6BY589</lei>
        <title>Aon Global Ltd.</title>
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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>2042-12-12</maturityDt>
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      <invstOrSec>
        <name>Aon Global Ltd.</name>
        <lei>VVT2B79I2Z4U3R6BY589</lei>
        <title>Aon Global Ltd.</title>
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          <isin value="US00185AAC80"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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      <invstOrSec>
        <name>Aon Global Ltd.</name>
        <lei>VVT2B79I2Z4U3R6BY589</lei>
        <title>Aon Global Ltd.</title>
        <cusip>00185AAG9</cusip>
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          <isin value="US00185AAG94"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>30016.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-06-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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      <invstOrSec>
        <name>Aon Global Ltd.</name>
        <lei>VVT2B79I2Z4U3R6BY589</lei>
        <title>Aon Global Ltd.</title>
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          <isin value="US00185AAH77"/>
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        <balance>45000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55000000</annualizedRt>
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        <name>AT&amp;T, Inc.</name>
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        <title>AT&amp;T, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>AT&amp;T, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-06-01</maturityDt>
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        <name>AT&amp;T, Inc.</name>
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        <title>AT&amp;T, Inc.</title>
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        <name>AT&amp;T, Inc.</name>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
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        <name>AT&amp;T, Inc.</name>
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        <title>AT&amp;T, Inc.</title>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
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        <title>AT&amp;T, Inc.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-08-15</maturityDt>
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          <annualizedRt>6.05000000</annualizedRt>
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      <invstOrSec>
        <name>Aptiv Swiss Holdings Ltd.</name>
        <lei>N/A</lei>
        <title>Aptiv Swiss Holdings Ltd.</title>
        <cusip>00217GAC7</cusip>
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          <isin value="US00217GAC78"/>
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        <balance>40000.00000000</balance>
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        <name>AbbVie, Inc.</name>
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        <name>Alabama Power Co.</name>
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        <name>Alabama Power Co.</name>
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        <name>Alabama Power Co.</name>
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        <name>Alleghany Corp.</name>
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        <name>Altria Group, Inc.</name>
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        <name>Altria Group, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</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>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
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          <isin value="US02209SBN27"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75705.63000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</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>
      <invstOrSec>
        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
        <cusip>02209SBP7</cusip>
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          <isin value="US02209SBP74"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>34999.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135BF2</cusip>
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          <isin value="US023135BF28"/>
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        <balance>120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>107961.62000000</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>2037-08-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</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>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135BM7</cusip>
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          <isin value="US023135BM78"/>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>171503.83000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-08-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135BT2</cusip>
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          <isin value="US023135BT22"/>
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        <curCd>USD</curCd>
        <valUSD>5800.57000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135BU9</cusip>
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          <isin value="US023135BU94"/>
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        <curCd>USD</curCd>
        <valUSD>51609.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-06-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</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>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135CC8</cusip>
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          <isin value="US023135CC87"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6154.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-05-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</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>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135CW4</cusip>
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          <isin value="US023135CW42"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4722.01000000</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>2055-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135CY0</cusip>
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          <isin value="US023135CY08"/>
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        <balance>135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>125958.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55000000</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>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135DJ2</cusip>
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        <curCd>USD</curCd>
        <valUSD>177540.44000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2066-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95000000</annualizedRt>
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        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2076-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Union Electric Co.</name>
        <lei>QMPJLLDULY5C1M8PNY21</lei>
        <title>Union Electric Co.</title>
        <cusip>02360FAB2</cusip>
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          <isin value="US02360FAB22"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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        <name>Ameren Illinois Co.</name>
        <lei>RC71E2BZ6UOMFPDJSE79</lei>
        <title>Ameren Illinois Co.</title>
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          <isin value="US02361DAM20"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-12-15</maturityDt>
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      <invstOrSec>
        <name>Ameren Illinois Co.</name>
        <lei>RC71E2BZ6UOMFPDJSE79</lei>
        <title>Ameren Illinois Co.</title>
        <cusip>02361DAN0</cusip>
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          <isin value="US02361DAN03"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16542.41000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>Ameren Illinois Co.</name>
        <lei>RC71E2BZ6UOMFPDJSE79</lei>
        <title>Ameren Illinois Co.</title>
        <cusip>02361DBC3</cusip>
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          <isin value="US02361DBC39"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>58272.09000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>American Financial Group, Inc.</name>
        <lei>549300AFOM7IVKIU1G39</lei>
        <title>American Financial Group, Inc.</title>
        <cusip>025932AL8</cusip>
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          <isin value="US025932AL88"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28420.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cencora, Inc.</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>Cencora, Inc.</title>
        <cusip>03073EAN5</cusip>
        <identifiers>
          <isin value="US03073EAN58"/>
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        <balance>40000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32934.55000000</valUSD>
        <pctVal>0.093197501291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cencora, Inc.</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
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        <name>Amgen, Inc.</name>
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        <title>Amgen, Inc.</title>
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        <name>Amgen, Inc.</name>
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        <name>Amphenol Corp.</name>
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        <name>Analog Devices, Inc.</name>
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      <invstOrSec>
        <name>Aon Corp.</name>
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        <name>Aon Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-02-28</maturityDt>
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        <name>Aon North America, Inc.</name>
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        <name>Apollo Global Management, Inc.</name>
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        <name>Appalachian Power Co.</name>
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        <name>Appalachian Power Co.</name>
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        <name>Apple, Inc.</name>
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      <invstOrSec>
        <name>Apple, Inc.</name>
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        <name>Apple, Inc.</name>
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        <name>Apple, Inc.</name>
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        <name>Applied Materials, Inc.</name>
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        <name>AppLovin Corp.</name>
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        <name>Arch Capital Finance LLC</name>
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        <name>Arizona Public Service Co.</name>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <name>AstraZeneca plc</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
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        <name>BAT Capital Corp.</name>
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        <name>BAT Capital Corp.</name>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
        <cusip>05526DBV6</cusip>
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          <isin value="US05526DBV64"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4649.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-03-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BHP Billiton Finance USA Ltd.</name>
        <lei>5493003NUVITP3TMY274</lei>
        <title>BHP Billiton Finance USA Ltd.</title>
        <cusip>055451AV0</cusip>
        <identifiers>
          <isin value="US055451AV01"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32767.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BHP Billiton Finance USA Ltd.</name>
        <lei>5493003NUVITP3TMY274</lei>
        <title>BHP Billiton Finance USA Ltd.</title>
        <cusip>055451BF4</cusip>
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          <isin value="US055451BF42"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14592.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Baker Hughes Holdings LLC</name>
        <lei>N/A</lei>
        <title>Baker Hughes Holdings LLC</title>
        <cusip>05724BAP4</cusip>
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          <isin value="US05724BAP40"/>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>78730.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Baker Hughes Holdings LLC</name>
        <lei>N/A</lei>
        <title>Baker Hughes Holdings LLC</title>
        <cusip>05724BAQ2</cusip>
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          <isin value="US05724BAQ23"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9870.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.85000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GJA8</cusip>
        <identifiers>
          <isin value="US06051GJA85"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23394.55000000</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>2051-03-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.08300000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GJE0</cusip>
        <identifiers>
          <isin value="US06051GJE08"/>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>61073.64000000</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>2041-06-19</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.67600000</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>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
        <cusip>06738EDE2</cusip>
        <identifiers>
          <isin value="US06738EDE23"/>
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        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79248.69000000</valUSD>
        <pctVal>0.224256286745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-11</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.86000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Barrick North America Finance LLC</name>
        <lei>N/A</lei>
        <title>Barrick North America Finance LLC</title>
        <cusip>06849RAC6</cusip>
        <identifiers>
          <isin value="US06849RAC60"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23218.45000000</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>2038-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Barrick North America Finance LLC</name>
        <lei>N/A</lei>
        <title>Barrick North America Finance LLC</title>
        <cusip>06849RAG7</cusip>
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          <isin value="US06849RAG74"/>
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        <balance>60000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>60247.04000000</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>2041-05-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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      <invstOrSec>
        <name>Barrick North America Finance LLC</name>
        <lei>N/A</lei>
        <title>Barrick North America Finance LLC</title>
        <cusip>06849RAK8</cusip>
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          <isin value="US06849RAK86"/>
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        <balance>70000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>69755.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Barrick PD Australia Finance Pty. Ltd.</name>
        <lei>5493008DX0TK7OFLV260</lei>
        <title>Barrick PD Australia Finance Pty. Ltd.</title>
        <cusip>06849UAD7</cusip>
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          <isin value="US06849UAD72"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20603.17000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95000000</annualizedRt>
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      <invstOrSec>
        <name>W R Berkley Corp.</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W R Berkley Corp.</title>
        <cusip>084423AP7</cusip>
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          <isin value="US084423AP79"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20994.66000000</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>2037-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>WR Berkley Corp.</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W R Berkley Corp.</title>
        <cusip>084423AT9</cusip>
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          <isin value="US084423AT91"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21888.33000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>W R Berkley Corp.</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W R Berkley Corp.</title>
        <cusip>084423AU6</cusip>
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          <isin value="US084423AU64"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26405.54000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>W R Berkley Corp.</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W R Berkley Corp.</title>
        <cusip>084423AW2</cusip>
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          <isin value="US084423AW21"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20260.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Berkshire Hathaway Energy Co.</name>
        <lei>549300JD0S5IZJE9LY15</lei>
        <title>Berkshire Hathaway Energy Co.</title>
        <cusip>084659AP6</cusip>
        <identifiers>
          <isin value="US084659AP66"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36804.11000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Berkshire Hathaway Energy Co.</name>
        <lei>549300JD0S5IZJE9LY15</lei>
        <title>Berkshire Hathaway Energy Co.</title>
        <cusip>084659AR2</cusip>
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          <isin value="US084659AR23"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16343.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-15</maturityDt>
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        <name>Biogen, Inc.</name>
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        <name>Brookfield Finance, Inc.</name>
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        <name>Burlington Northern Santa Fe LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>CF Industries, Inc.</name>
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        <name>Cigna Group (The)</name>
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        <name>CVS Health Corp.</name>
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        <name>CVS Health Corp.</name>
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        <name>CVS Health Corp.</name>
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        <name>Coterra Energy, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.90000000</annualizedRt>
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        <name>Canadian National Railway Co.</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Canadian Natural Resources Ltd.</name>
        <lei>549300T15RIMIKZC5Q38</lei>
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        <name>Canadian Natural Resources Ltd.</name>
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        <name>Canadian Natural Resources Ltd.</name>
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        <name>Canadian Pacific Railway Co.</name>
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        <name>Cardinal Health, Inc.</name>
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        <name>Cardinal Health, Inc.</name>
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      <invstOrSec>
        <name>Cardinal Health, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cenovus Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cenovus Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CenterPoint Energy Resources Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-11-01</maturityDt>
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        <name>CenterPoint Energy Houston Electric LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Charter Communications Operating LLC</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-10-23</maturityDt>
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        <name>Charter Communications Operating LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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        <name>Charter Communications Operating LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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        <name>Charter Communications Operating LLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-03-01</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>Charter Communications Operating LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Charter Communications Operating LLC</name>
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        <name>Charter Communications Operating LLC</name>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Chubb INA Holdings LLC</name>
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        <name>Church &amp; Dwight Co., Inc.</name>
        <lei>POOXSI30AWAQGYJZC921</lei>
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        <name>Church &amp; Dwight Co., Inc.</name>
        <lei>POOXSI30AWAQGYJZC921</lei>
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      <invstOrSec>
        <name>Cisco Systems, Inc.</name>
        <lei>549300LKFJ962MZ46593</lei>
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        <name>Cisco Systems, Inc.</name>
        <lei>549300LKFJ962MZ46593</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cisco Systems, Inc.</name>
        <lei>549300LKFJ962MZ46593</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Colgate-Palmolive Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Comcast Corp.</name>
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        <name>Comcast Corp.</name>
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        <name>Comcast Corp.</name>
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        <name>Comcast Corp.</name>
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        <name>Comcast Corp.</name>
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        <name>Comcast Corp.</name>
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        <name>Comcast Corp.</name>
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        <name>Comcast Corp.</name>
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        <name>ConocoPhillips Co.</name>
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        <name>Consumers Energy Co.</name>
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        <name>Continental Resources, Inc.</name>
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        <name>Ingredion, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Corning, Inc.</name>
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        <name>Corning, Inc.</name>
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          <maturityDt>2042-03-15</maturityDt>
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        <name>Corning, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-11-15</maturityDt>
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        <name>Corning, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2079-11-15</maturityDt>
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        <name>Covidien International Finance SA</name>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-15</maturityDt>
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      <invstOrSec>
        <name>Devon Energy Corp.</name>
        <lei>54930042348RKR3ZPN35</lei>
        <title>Devon Energy Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-09-15</maturityDt>
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        <name>Diamondback Energy, Inc.</name>
        <lei>549300R22LSX6OHWEN64</lei>
        <title>Diamondback Energy, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-03-15</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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        <name>Diamondback Energy, Inc.</name>
        <lei>549300R22LSX6OHWEN64</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-04-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <name>Diamondback Energy, Inc.</name>
        <lei>549300R22LSX6OHWEN64</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2064-04-18</maturityDt>
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      <invstOrSec>
        <name>Dick's Sporting Goods, Inc.</name>
        <lei>529900SSBV5I4LWSK313</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Walt Disney Co. (The)</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>Walt Disney Co. (The)</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-12-01</maturityDt>
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        <name>TWDC Enterprises 18 Corp.</name>
        <lei>7260JQNI6SCF9FIV2392</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-12-01</maturityDt>
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        <name>Dominion Energy, Inc.</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>Dominion Energy, Inc., Series C</title>
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          <maturityDt>2042-09-15</maturityDt>
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        <name>Dominion Energy, Inc.</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>Dominion Energy, Inc., Series B</title>
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        <name>Dominion Energy, Inc.</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
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        <invCountry>US</invCountry>
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        <name>Dover Corp.</name>
        <lei>549300FMC2ALGA7N9E80</lei>
        <title>Dover Corp.</title>
        <cusip>260003AG3</cusip>
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          <isin value="US260003AG33"/>
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        <balance>20000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.60000000</annualizedRt>
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        <name>Dover Corp.</name>
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        <name>Dow Chemical Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Keurig Dr Pepper, Inc.</name>
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        <name>Duke Energy Indiana LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Duke Energy Corp.</name>
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          <maturityDt>2045-12-15</maturityDt>
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        <name>Duke Energy Corp.</name>
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        <name>Duke Energy Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-15</maturityDt>
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          <annualizedRt>4.20000000</annualizedRt>
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        <name>Duke Energy Corp.</name>
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        <name>Duke Energy Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Duke Energy Corp.</name>
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        <name>Duke Energy Corp.</name>
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        <name>Duke Energy Carolinas LLC</name>
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        <name>Duke Energy Progress LLC</name>
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        <name>Duke Energy Progress LLC</name>
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        <name>EOG Resources, Inc.</name>
        <lei>XWTZDRYZPBUHIQBKDB46</lei>
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        <name>EOG Resources, Inc.</name>
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        <name>EOG Resources, Inc.</name>
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        <name>EOG Resources, Inc.</name>
        <lei>XWTZDRYZPBUHIQBKDB46</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95000000</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>ERP Operating LP</name>
        <lei>DX5HQV5MLU50FEWZ5072</lei>
        <title>ERP Operating LP</title>
        <cusip>26884ABB8</cusip>
        <identifiers>
          <isin value="US26884ABB89"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8719.71000000</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>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>
      <invstOrSec>
        <name>Eastern Energy Gas Holdings LLC</name>
        <lei>549300BFOD6TDMVV4O24</lei>
        <title>Eastern Energy Gas Holdings LLC</title>
        <cusip>27636AAC6</cusip>
        <identifiers>
          <isin value="US27636AAC62"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35574.37000000</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>2055-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.20000000</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>Eastern Gas Transmission &amp; Storage, Inc.</name>
        <lei>H2VQBNB3NSKRM5QWBI71</lei>
        <title>Eastern Gas Transmission &amp; Storage, Inc.</title>
        <cusip>276480AB6</cusip>
        <identifiers>
          <isin value="US276480AB69"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14699.30000000</valUSD>
        <pctVal>0.041595771939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</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>Eastern Gas Transmission &amp; Storage, Inc.</name>
        <lei>H2VQBNB3NSKRM5QWBI71</lei>
        <title>Eastern Gas Transmission &amp; Storage, Inc.</title>
        <cusip>276480AF7</cusip>
        <identifiers>
          <isin value="US276480AF73"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17386.02000000</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>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</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>eBay, Inc.</name>
        <lei>OML71K8X303XQONU6T67</lei>
        <title>eBay, Inc.</title>
        <cusip>278642AF0</cusip>
        <identifiers>
          <isin value="US278642AF09"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8041.85000000</valUSD>
        <pctVal>0.022756659063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>eBay, Inc.</name>
        <lei>OML71K8X303XQONU6T67</lei>
        <title>eBay, Inc.</title>
        <cusip>278642AZ6</cusip>
        <identifiers>
          <isin value="US278642AZ62"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>53035.31000000</valUSD>
        <pctVal>0.150078211854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</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>Ecolab, Inc.</name>
        <lei>82DYEISM090VG8LTLS26</lei>
        <title>Ecolab, Inc.</title>
        <cusip>278865AM2</cusip>
        <identifiers>
          <isin value="US278865AM26"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10066.23000000</valUSD>
        <pctVal>0.028485207280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>Ecolab, Inc.</name>
        <lei>82DYEISM090VG8LTLS26</lei>
        <title>Ecolab, Inc.</title>
        <cusip>278865BJ8</cusip>
        <identifiers>
          <isin value="US278865BJ87"/>
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        <balance>37000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21804.02000000</valUSD>
        <pctVal>0.061700560114</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</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>
        <name>Ecolab, Inc.</name>
        <lei>82DYEISM090VG8LTLS26</lei>
        <title>Ecolab, Inc.</title>
        <cusip>278865BN9</cusip>
        <identifiers>
          <isin value="US278865BN99"/>
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        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3018.69000000</valUSD>
        <pctVal>0.008542225874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</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>Electronic Arts, Inc.</name>
        <lei>549300O7A67PUEYKDL45</lei>
        <title>Electronic Arts, Inc.</title>
        <cusip>285512AF6</cusip>
        <identifiers>
          <isin value="US285512AF68"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28831.96000000</valUSD>
        <pctVal>0.081588077849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</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>Emera US Finance LP</name>
        <lei>N/A</lei>
        <title>Emera US Finance LP</title>
        <cusip>29103DAM8</cusip>
        <identifiers>
          <isin value="US29103DAM83"/>
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        <balance>70000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>58081.22000000</valUSD>
        <pctVal>0.164357022517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-15</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>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>292480AJ9</cusip>
        <identifiers>
          <isin value="US292480AJ92"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17422.88000000</valUSD>
        <pctVal>0.049302901703</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000040</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>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc.</title>
        <cusip>29250NAJ4</cusip>
        <identifiers>
          <isin value="US29250NAJ46"/>
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        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4213.33000000</valUSD>
        <pctVal>0.011922793179</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-06-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc.</title>
        <cusip>29250NBA2</cusip>
        <identifiers>
          <isin value="US29250NBA28"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15063.77000000</valUSD>
        <pctVal>0.042627141528</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Enbridge, Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge, Inc.</title>
        <cusip>29250NBZ7</cusip>
        <identifiers>
          <isin value="US29250NBZ78"/>
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        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5428.10000000</valUSD>
        <pctVal>0.015360323938</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.70000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Enbridge Energy Partners LP</name>
        <lei>CZ6VG2MNE1J6YDI02G48</lei>
        <title>Enbridge Energy Partners LP</title>
        <cusip>29250RAT3</cusip>
        <identifiers>
          <isin value="US29250RAT32"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9792.18000000</valUSD>
        <pctVal>0.027709706317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Enbridge Energy Partners LP</name>
        <lei>CZ6VG2MNE1J6YDI02G48</lei>
        <title>Enbridge Energy Partners LP</title>
        <cusip>29250RAX4</cusip>
        <identifiers>
          <isin value="US29250RAX44"/>
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        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>97511.47000000</valUSD>
        <pctVal>0.275935919915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</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>Iberdrola International BV</name>
        <lei>549300ZMLFJKWC63XN87</lei>
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          <isin value="US29266MAF68"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16856.12000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29273RAT6</cusip>
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          <isin value="US29273RAT68"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>66889.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29273RBJ7</cusip>
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          <isin value="US29273RBJ77"/>
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        <valUSD>4892.69000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-12-15</maturityDt>
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          <annualizedRt>6.12500000</annualizedRt>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
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        <cusip>29273RBL2</cusip>
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          <isin value="US29273RBL24"/>
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        <curCd>USD</curCd>
        <valUSD>30951.12000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29273VAW0</cusip>
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          <isin value="US29273VAW00"/>
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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>2054-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95000000</annualizedRt>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
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        <cusip>29273VBB5</cusip>
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          <isin value="US29273VBB53"/>
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        <curCd>USD</curCd>
        <valUSD>28622.41000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-09-01</maturityDt>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
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        <cusip>29278NAR4</cusip>
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        <valUSD>20883.86000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-05-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
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        <cusip>29279FAA7</cusip>
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          <isin value="US29279FAA75"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
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        <curCd>USD</curCd>
        <valUSD>17816.34000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.55000000</annualizedRt>
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      <invstOrSec>
        <name>Enterprise Products Operating LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Enterprise Products Operating LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Enterprise Products Operating LLC</name>
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        <name>Enterprise Products Operating LLC</name>
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        <name>Enterprise Products Operating LLC</name>
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        <name>Enterprise Products Operating LLC</name>
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          <maturityDt>2053-02-15</maturityDt>
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      <invstOrSec>
        <name>Exxon Mobil Corp.</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Exxon Mobil Corp.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-16</maturityDt>
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      <invstOrSec>
        <name>Exxon Mobil Corp.</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Fairfax Financial Holdings Ltd.</name>
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        <name>FNMA</name>
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        <name>FedEx Corp.</name>
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        <name>Fiserv, Inc.</name>
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        <name>FirstEnergy Corp.</name>
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        <name>Duke Energy Florida LLC</name>
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        <name>Fortive Corp.</name>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <name>General Dynamics Corp.</name>
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        <name>General Electric Co.</name>
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        <name>Georgia Power Co.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-07-21</maturityDt>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>WW Grainger, Inc.</name>
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          <isin value="US384802AB05"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-06-15</maturityDt>
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        <name>WW Grainger, Inc.</name>
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          <isin value="US384802AC87"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <name>WW Grainger, Inc.</name>
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          <isin value="US384802AD60"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-05-15</maturityDt>
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          <annualizedRt>4.20000000</annualizedRt>
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      <invstOrSec>
        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
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        <name>HCA, Inc.</name>
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        <name>HCA, Inc.</name>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>HCA, Inc.</name>
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      <invstOrSec>
        <name>HCA, Inc.</name>
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      <invstOrSec>
        <name>HCA, Inc.</name>
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      <invstOrSec>
        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
        <cusip>404119CW7</cusip>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-04-01</maturityDt>
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          <annualizedRt>6.10000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HCA, Inc.</name>
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        <name>Indiana Michigan Power Co.</name>
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        <name>Indiana Michigan Power Co.</name>
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        <name>Indiana Michigan Power Co.</name>
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        <name>Trane Technologies Financing Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Trane Technologies Holdco, Inc.</name>
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          <maturityDt>2043-06-15</maturityDt>
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        <name>Ingredion, Inc.</name>
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        <name>International Business Machines Corp.</name>
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        <name>International Business Machines Corp.</name>
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        <name>International Transmission Co.</name>
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        <name>Johnson &amp; Johnson</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Johnson &amp; Johnson</name>
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          <isin value="US478160BU72"/>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-01</maturityDt>
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          <annualizedRt>3.55000000</annualizedRt>
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        <name>Johnson &amp; Johnson</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.62500000</annualizedRt>
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        <name>Johnson &amp; Johnson</name>
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        <name>Johnson Controls International plc</name>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.40000000</annualizedRt>
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        <name>KLA Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>KLA Corp.</name>
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        <name>Evergy Metro, Inc.</name>
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        <name>Keurig Dr Pepper, Inc.</name>
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        <name>Kimberly-Clark Corp.</name>
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        <name>Kimberly-Clark Corp.</name>
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        <name>Kinder Morgan Energy Partners LP</name>
        <lei>549300PDHUGWPWGOT525</lei>
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        <name>Kinder Morgan Energy Partners LP</name>
        <lei>549300PDHUGWPWGOT525</lei>
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        <name>Kinder Morgan, Inc.</name>
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      <invstOrSec>
        <name>Eli Lilly &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Eli Lilly &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lloyds Banking Group plc</name>
        <lei>549300PPXHEU2JF0AM85</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
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          <isin value="US539830BY44"/>
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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>2063-11-15</maturityDt>
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      <invstOrSec>
        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
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          <isin value="US539830CE70"/>
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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>2064-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <name>Louisville Gas and Electric Co.</name>
        <lei>KO3GRIB3RPH1XDX50U72</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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        <name>Louisville Gas and Electric Co.</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-10-01</maturityDt>
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        <name>Lowe's Cos., Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos., Inc.</title>
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          <isin value="US548661DA29"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-09-15</maturityDt>
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        <name>Lowe's Cos., Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Lowe's Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Markel Group, Inc.</name>
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        <name>Markel Group, Inc.</name>
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        <name>McDonald's Corp.</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
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        <name>McDonald's Corp.</name>
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        <name>McKesson Corp.</name>
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        <name>Mead Johnson Nutrition Co.</name>
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        <name>Medtronic, Inc.</name>
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        <name>Merck &amp; Co., Inc.</name>
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        <name>Bank of America Corp.</name>
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        <name>Microsoft Corp.</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <isin value="US61747YDY86"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-01-27</maturityDt>
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          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <isin value="US61747YFV20"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-11-19</maturityDt>
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          <annualizedRt>5.51600000</annualizedRt>
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      <invstOrSec>
        <name>Motorola Solutions, Inc.</name>
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        <title>Motorola Solutions, Inc.</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <name>Utah Acquisition Sub, Inc.</name>
        <lei>254900JOFV74IJ7H9933</lei>
        <title>Utah Acquisition Sub, Inc.</title>
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          <isin value="US62854AAP93"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-06-15</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Nasdaq, Inc.</name>
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        <title>Nasdaq, Inc.</title>
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          <isin value="US63111XAK72"/>
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        <curCd>USD</curCd>
        <valUSD>15079.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95000000</annualizedRt>
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        <name>Nasdaq, Inc.</name>
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        <title>Nasdaq, Inc.</title>
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          <isin value="US63111XAL55"/>
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        <balance>105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>106367.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-06-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>National Rural Utilities Cooperative Finance Corp.</name>
        <lei>4NYF266XZC35SCTGX023</lei>
        <title>National Rural Utilities Cooperative Finance Corp.</title>
        <cusip>637432NT8</cusip>
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          <isin value="US637432NT82"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>28586.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NBCUniversal Media LLC</name>
        <lei>VTBDOQJ6KOGQ6K786R46</lei>
        <title>NBCUniversal Media LLC</title>
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          <isin value="US63946BAJ98"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>53792.22000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Netflix, Inc.</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>Netflix, Inc.</title>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33550.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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      <invstOrSec>
        <name>Nevada Power Co.</name>
        <lei>MJZFGXRJ52U8U4MKJ519</lei>
        <title>Nevada Power Co., Series R</title>
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        <curCd>USD</curCd>
        <valUSD>22242.17000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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        <name>Nevada Power Co.</name>
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        <title>Nevada Power Co.</title>
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        <curCd>USD</curCd>
        <valUSD>19447.99000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-15</maturityDt>
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          <annualizedRt>5.37500000</annualizedRt>
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        <name>Nevada Power Co.</name>
        <lei>MJZFGXRJ52U8U4MKJ519</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
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        <name>Nevada Power Co.</name>
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        <title>Nevada Power Co., Series EE</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2050-08-01</maturityDt>
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          <annualizedRt>3.12500000</annualizedRt>
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        <name>Nevada Power Co.</name>
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        <title>Nevada Power Co., Series GG</title>
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          <maturityDt>2053-05-01</maturityDt>
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          <annualizedRt>5.90000000</annualizedRt>
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        <name>Newmont Corp.</name>
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          <maturityDt>2041-11-15</maturityDt>
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        <name>NiSource, Inc.</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource, Inc.</title>
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          <maturityDt>2052-06-15</maturityDt>
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        <name>NiSource, Inc.</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource, Inc.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2041-06-15</maturityDt>
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      <invstOrSec>
        <name>NiSource, Inc.</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource, Inc.</title>
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      <invstOrSec>
        <name>Old Republic International Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Omnicom Group, Inc.</name>
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        <title>Omnicom Group, Inc.</title>
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        <name>Omnicom Group, Inc.</name>
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        <title>Omnicom Group, Inc.</title>
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        <name>ONEOK, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ONEOK, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Oracle Corp.</name>
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        <name>Oracle Corp.</name>
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        <name>Oracle Corp.</name>
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        <name>Oracle Corp.</name>
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        <name>Oracle Corp.</name>
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        <name>Oracle Corp.</name>
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        <name>Oracle Corp.</name>
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        <name>Parker-Hannifin Corp.</name>
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        <name>PepsiCo, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Suncor Energy, Inc.</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Pfizer Investment Enterprises Pte. Ltd.</name>
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        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
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          <maturityDt>2038-05-16</maturityDt>
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        <name>Philip Morris International, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-15</maturityDt>
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        <name>Philip Morris International, Inc.</name>
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        <name>Philip Morris International, Inc.</name>
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          <maturityDt>2042-08-21</maturityDt>
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        <name>Philip Morris International, Inc.</name>
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        <name>Piedmont Natural Gas Co., Inc.</name>
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        <invCountry>US</invCountry>
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        <name>Plains All American Pipeline LP</name>
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          <maturityDt>2042-06-01</maturityDt>
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        <name>Linde, Inc.</name>
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        <name>Progressive Corp. (The)</name>
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        <name>Progressive Corp. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-10-15</maturityDt>
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      <invstOrSec>
        <name>Prologis LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Prudential Financial, Inc.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.35000000</annualizedRt>
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      <invstOrSec>
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        <lei>5PRBRS5FEH7NREC8OR45</lei>
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          <isin value="US74432QCF00"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Public Service Co. of Colorado</name>
        <lei>5BANEF6PGSEK0SNMQF44</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-08-15</maturityDt>
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        <name>Public Service Co. of Colorado</name>
        <lei>5BANEF6PGSEK0SNMQF44</lei>
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        <curCd>USD</curCd>
        <valUSD>4869.40000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <name>Public Service Co. of Colorado</name>
        <lei>5BANEF6PGSEK0SNMQF44</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.85000000</annualizedRt>
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        <name>Public Service Co. of Oklahoma</name>
        <lei>F3TJNSIZRGXRH8GEIK79</lei>
        <title>Public Service Co. of Oklahoma, Series K</title>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12740.62000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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      <invstOrSec>
        <name>Public Storage Operating Co.</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>Public Storage Operating Co.</title>
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        <balance>80000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75477.97000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</annualizedRt>
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        <name>Puget Sound Energy, Inc.</name>
        <lei>8MNFJR7KOMBQ7X62LK44</lei>
        <title>Puget Sound Energy, Inc.</title>
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        <balance>5000.00000000</balance>
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        <valUSD>4967.34000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.63800000</annualizedRt>
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        <name>Puget Sound Energy, Inc.</name>
        <lei>8MNFJR7KOMBQ7X62LK44</lei>
        <title>Puget Sound Energy, Inc.</title>
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        <balance>30000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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        <name>QUALCOMM, Inc.</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>QUALCOMM, Inc.</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM, Inc.</title>
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        <balance>150000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>QUALCOMM, Inc.</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>RPM International, Inc.</name>
        <lei>549300TJCKW4BRXPJ474</lei>
        <title>RPM International, Inc.</title>
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        <name>Raymond James Financial, Inc.</name>
        <lei>RGUZHJ05YTITL6D76949</lei>
        <title>Raymond James Financial, Inc.</title>
        <cusip>754730AH2</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-04-01</maturityDt>
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        <name>Raymond James Financial, Inc.</name>
        <lei>RGUZHJ05YTITL6D76949</lei>
        <title>Raymond James Financial, Inc.</title>
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        <balance>20000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2055-09-11</maturityDt>
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      <invstOrSec>
        <name>Regeneron Pharmaceuticals, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Reliance, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HSBC USA, Inc.</name>
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        <name>Republic Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Rio Tinto Finance USA Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-11-02</maturityDt>
          <couponKind>Fixed</couponKind>
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        <fairValLevel>2</fairValLevel>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <invCountry>GB</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Royalty Pharma plc</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-02</maturityDt>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-09-02</maturityDt>
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        <name>Salesforce, Inc.</name>
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        <name>Salesforce, Inc.</name>
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        <name>Salesforce, Inc.</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
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        <name>Sherwin-Williams Co. (The)</name>
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        <name>Simon Property Group LP</name>
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        <name>Southern Copper Corp.</name>
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        <name>Southern Copper Corp.</name>
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        <name>Southern Co. Gas Capital Corp.</name>
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        <title>Southern Co. Gas Capital Corp.</title>
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        <name>Southern Co. Gas Capital Corp.</name>
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        <name>Southern Co. Gas Capital Corp.</name>
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        <name>Southern Power Co.</name>
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        <name>Southern Power Co.</name>
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          <maturityDt>2043-07-15</maturityDt>
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      <invstOrSec>
        <name>Southern Power Co.</name>
        <lei>5LADC78JBG2BMZD5XF57</lei>
        <title>Southern Power Co., Series F</title>
        <cusip>843646AU4</cusip>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-12-15</maturityDt>
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          <annualizedRt>4.95000000</annualizedRt>
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      <invstOrSec>
        <name>Southwestern Electric Power Co.</name>
        <lei>R64UBJHEC74EB3HGQ410</lei>
        <title>Southwestern Electric Power Co., Series J</title>
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          <isin value="US845437BN11"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-04-01</maturityDt>
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          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>Southwestern Electric Power Co.</name>
        <lei>R64UBJHEC74EB3HGQ410</lei>
        <title>Southwestern Electric Power Co.</title>
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          <isin value="US845437BT80"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-01</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>Spectra Energy Partners LP</name>
        <lei>2HKVXE7U4NF5B6UGSU72</lei>
        <title>Spectra Energy Partners LP</title>
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        <balance>20000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-03-15</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>STERIS Irish FinCo. UnLtd Co.</name>
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        <invCountry>IE</invCountry>

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          <maturityDt>2051-03-15</maturityDt>
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        <name>Stryker Corp.</name>
        <lei>5493002F0SC4JTBU5137</lei>
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          <maturityDt>2043-04-01</maturityDt>
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        <name>Stryker Corp.</name>
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        <name>Stryker Corp.</name>
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        <name>Stryker Corp.</name>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.57000000</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>Suncor Energy, Inc.</name>
        <lei>894500XO86FKXQGPYV71</lei>
        <title>Suncor Energy, Inc.</title>
        <cusip>867224AB3</cusip>
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          <isin value="US867224AB33"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22636.91000000</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>2047-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Suncor Energy, Inc.</name>
        <lei>894500XO86FKXQGPYV71</lei>
        <title>Suncor Energy, Inc.</title>
        <cusip>867224AE7</cusip>
        <identifiers>
          <isin value="US867224AE71"/>
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        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3538.81000000</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>2051-03-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Suncor Energy, Inc.</name>
        <lei>894500XO86FKXQGPYV71</lei>
        <title>Suncor Energy, Inc.</title>
        <cusip>867229AE6</cusip>
        <identifiers>
          <isin value="US867229AE68"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32035.15000000</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>2038-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>Suncor Energy, Inc.</name>
        <lei>894500XO86FKXQGPYV71</lei>
        <title>Suncor Energy, Inc.</title>
        <cusip>86722TAB8</cusip>
        <identifiers>
          <isin value="US86722TAB89"/>
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        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38597.78000000</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>2039-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.85000000</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>
      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>86765BAK5</cusip>
        <identifiers>
          <isin value="US86765BAK52"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9892.41000000</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>2042-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.10000000</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>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>86765BAM1</cusip>
        <identifiers>
          <isin value="US86765BAM19"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8749.59000000</valUSD>
        <pctVal>0.024759406924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</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>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>86765BAP4</cusip>
        <identifiers>
          <isin value="US86765BAP40"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9010.06000000</valUSD>
        <pctVal>0.025496479486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</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>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>86765BAQ2</cusip>
        <identifiers>
          <isin value="US86765BAQ23"/>
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        <balance>25000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22433.32000000</valUSD>
        <pctVal>0.063481340102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</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>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>86765BAV1</cusip>
        <identifiers>
          <isin value="US86765BAV18"/>
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        <balance>15000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13398.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</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>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
        <cusip>871829AY3</cusip>
        <identifiers>
          <isin value="US871829AY37"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8537.27000000</valUSD>
        <pctVal>0.024158588225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</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>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
        <cusip>871829BH9</cusip>
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          <isin value="US871829BH94"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31901.79000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
        <cusip>871829BJ5</cusip>
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          <isin value="US871829BJ50"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23002.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
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      <invstOrSec>
        <name>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
        <cusip>871829BM8</cusip>
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          <isin value="US871829BM89"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5353.40000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.60000000</annualizedRt>
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      <invstOrSec>
        <name>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
        <cusip>871829BN6</cusip>
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          <isin value="US871829BN62"/>
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        <curCd>USD</curCd>
        <valUSD>20851.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
        <cusip>871829BR7</cusip>
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          <isin value="US871829BR76"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37346.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TJX Cos., Inc. (The)</name>
        <lei>V167QI9I69W364E2DY52</lei>
        <title>TJX Cos., Inc. (The)</title>
        <cusip>872540AU3</cusip>
        <identifiers>
          <isin value="US872540AU37"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16927.57000000</valUSD>
        <pctVal>0.047901283817</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
        <cusip>87264ABY0</cusip>
        <identifiers>
          <isin value="US87264ABY01"/>
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        <balance>55000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35389.84000000</valUSD>
        <pctVal>0.100145429620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</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>T-Mobile USA, Inc.</name>
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        <title>T-Mobile USA, Inc.</title>
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      <invstOrSec>
        <name>TransCanada PipeLines Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Travelers Cos., Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-06-15</maturityDt>
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        <name>Travelers Cos., Inc. (The)</name>
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        <name>Trinity Acquisition plc</name>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-15</maturityDt>
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        <name>Tucson Electric Power Co.</name>
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        <name>Tucson Electric Power Co.</name>
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        <name>Tucson Electric Power Co.</name>
        <lei>YLF139GXSRKPBBTNZL03</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-04-15</maturityDt>
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          <annualizedRt>5.90000000</annualizedRt>
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      <invstOrSec>
        <name>Tyco Electronics Group SA</name>
        <lei>C33G1C5SYE2YM95EE712</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-10-01</maturityDt>
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        <name>Tyson Foods, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-15</maturityDt>
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        <name>Tyson Foods, Inc.</name>
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          <maturityDt>2047-06-02</maturityDt>
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        <name>UBS AG</name>
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        <invCountry>CH</invCountry>
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        <name>Uber Technologies, Inc.</name>
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        <name>Union Electric Co.</name>
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        <name>Union Pacific Corp.</name>
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        <name>Union Pacific Corp.</name>
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        <name>Union Pacific Corp.</name>
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        <name>Union Pacific Corp.</name>
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        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Valmont Industries, Inc.</name>
        <lei>5493009ZGZJJ8F77JN08</lei>
        <title>Valmont Industries, Inc.</title>
        <cusip>920253AF8</cusip>
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          <isin value="US920253AF89"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44321.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Ventas Realty LP</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
        <title>Ventas Realty LP</title>
        <cusip>92277GAB3</cusip>
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          <isin value="US92277GAB32"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>34438.61000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
        <cusip>92343VCV4</cusip>
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          <isin value="US92343VCV45"/>
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        <balance>186000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>171572.17000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.27200000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
        <cusip>92343VFT6</cusip>
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          <isin value="US92343VFT61"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>98143.98000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
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          <isin value="US92343VGK44"/>
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        <balance>120000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>92077.77000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-03-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
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          <isin value="US92343VGL27"/>
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        <balance>10000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7026.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.85000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
        <cusip>92343VHK3</cusip>
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          <isin value="US92343VHK35"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>144662.01000000</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>2065-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>Verisk Analytics, Inc.</name>
        <lei>549300I1YSWNIRKBWP67</lei>
        <title>Verisk Analytics, Inc.</title>
        <cusip>92345YAE6</cusip>
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          <isin value="US92345YAE68"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18721.66000000</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>2045-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Verisk Analytics, Inc.</name>
        <lei>549300I1YSWNIRKBWP67</lei>
        <title>Verisk Analytics, Inc.</title>
        <cusip>92345YAG1</cusip>
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          <isin value="US92345YAG17"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13939.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Vertiv Holdings Co.</name>
        <lei>549300KTTIRAOGXCRV69</lei>
        <title>Vertiv Holdings Co.</title>
        <cusip>92537NAD0</cusip>
        <identifiers>
          <isin value="US92537NAD03"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19351.37000000</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>2066-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Paramount Global</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
        <title>Paramount Global</title>
        <cusip>925524AX8</cusip>
        <identifiers>
          <isin value="US925524AX89"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4651.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Viatris, Inc.</name>
        <lei>254900ZZTSW7NL773X71</lei>
        <title>Viatris, Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>VICI Properties LP</name>
        <lei>254900X4QE7SGKQLLN38</lei>
        <title>VICI Properties LP</title>
        <cusip>925650AE3</cusip>
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          <isin value="US925650AE39"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VICI Properties LP</name>
        <lei>254900X4QE7SGKQLLN38</lei>
        <title>VICI Properties LP</title>
        <cusip>925650AG8</cusip>
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          <isin value="US925650AG86"/>
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        <balance>45000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-04-01</maturityDt>
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          <annualizedRt>6.12500000</annualizedRt>
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      <invstOrSec>
        <name>Visa, Inc.</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>Visa, Inc.</title>
        <cusip>92826CAF9</cusip>
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          <isin value="US92826CAF95"/>
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        <balance>255000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-12-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>Visa, Inc.</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>Visa, Inc.</title>
        <cusip>92826CAJ1</cusip>
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        <balance>10000.00000000</balance>
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        <valUSD>7639.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-15</maturityDt>
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          <annualizedRt>3.65000000</annualizedRt>
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      <invstOrSec>
        <name>Visa, Inc.</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>Visa, Inc.</title>
        <cusip>92826CAK8</cusip>
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        <balance>20000.00000000</balance>
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        <valUSD>15160.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Vulcan Materials Co.</name>
        <lei>549300Q8LSNHAVWBNI21</lei>
        <title>Vulcan Materials Co.</title>
        <cusip>929160AV1</cusip>
        <identifiers>
          <isin value="US929160AV17"/>
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        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4180.45000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vulcan Materials Co.</name>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Vulcan Materials Co.</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Elevance Health, Inc.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
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          <isin value="US94973VBL09"/>
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        <curCd>USD</curCd>
        <valUSD>16520.40000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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        <curCd>USD</curCd>
        <valUSD>76615.92000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-01-15</maturityDt>
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          <annualizedRt>5.60600000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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          <isin value="US94974BGE48"/>
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        <curCd>USD</curCd>
        <valUSD>50471.95000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17333.26000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <cusip>94974BGT1</cusip>
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        <curCd>USD</curCd>
        <valUSD>32108.80000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
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        <curCd>USD</curCd>
        <valUSD>88597.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <name>Wells Fargo Bank NA</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
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        <curCd>USD</curCd>
        <valUSD>20801.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95000000</annualizedRt>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-04</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.01300000</annualizedRt>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-04-25</maturityDt>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-01-23</maturityDt>
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        <name>Evergy Kansas Central, Inc.</name>
        <lei>J75GNWGEO73W89ZV3S44</lei>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.12500000</annualizedRt>
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        <name>Evergy Kansas Central, Inc.</name>
        <lei>J75GNWGEO73W89ZV3S44</lei>
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          <annualizedRt>4.10000000</annualizedRt>
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        <name>Evergy Kansas Central, Inc.</name>
        <lei>J75GNWGEO73W89ZV3S44</lei>
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        <name>Western Midstream Operating LP</name>
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        <invCountry>US</invCountry>
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        <name>Western Midstream Operating LP</name>
        <lei>L6D8A6MLSY454J2JXJ60</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-01</maturityDt>
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          <annualizedRt>5.30000000</annualizedRt>
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        <name>Western Union Co. (The)</name>
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        <name>Westpac Banking Corp.</name>
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        <name>Williams Cos., Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Williams Cos., Inc. (The)</name>
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          <maturityDt>2056-03-15</maturityDt>
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        <name>Williams Cos., Inc. (The)</name>
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        <title>Williams Cos., Inc. (The)</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2045-09-15</maturityDt>
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        <name>Williams Cos., Inc. (The)</name>
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        <name>Willis North America, Inc.</name>
        <lei>5493004KVU1HWZCP0C66</lei>
        <title>Willis North America, Inc.</title>
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        <name>Willis North America, Inc.</name>
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        <name>Wisconsin Electric Power Co.</name>
        <lei>AENKIFMULUAWOUU8Q584</lei>
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        <name>Wisconsin Electric Power Co.</name>
        <lei>AENKIFMULUAWOUU8Q584</lei>
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        <name>Wisconsin Power and Light Co.</name>
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        <name>Wisconsin Public Service Corp.</name>
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        <name>Wisconsin Public Service Corp.</name>
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        <name>Woodside Finance Ltd.</name>
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        <invCountry>AU</invCountry>
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        <name>XTO Energy, Inc.</name>
        <lei>50TT7TKGF8M78VJRP761</lei>
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        <curCd>USD</curCd>
        <valUSD>39785.84000000</valUSD>
        <pctVal>0.112585138548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</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>Xylem, Inc.</name>
        <lei>549300DF5MV96DRYLQ48</lei>
        <title>Xylem, Inc.</title>
        <cusip>98419MAK6</cusip>
        <identifiers>
          <isin value="US98419MAK62"/>
        </identifiers>
        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28941.75000000</valUSD>
        <pctVal>0.081898759297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</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>Zoetis, Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis, Inc.</title>
        <cusip>98978VAH6</cusip>
        <identifiers>
          <isin value="US98978VAH69"/>
        </identifiers>
        <balance>105000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93612.58000000</valUSD>
        <pctVal>0.264902922476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-01</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>
      <invstOrSec>
        <name>Zoetis, Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis, Inc.</title>
        <cusip>98978VAP8</cusip>
        <identifiers>
          <isin value="US98978VAP85"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16621.92000000</valUSD>
        <pctVal>0.047036361834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</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>Zoetis, Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis, Inc.</title>
        <cusip>98978VAT0</cusip>
        <identifiers>
          <isin value="US98978VAT08"/>
        </identifiers>
        <balance>35000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22475.74000000</valUSD>
        <pctVal>0.063601379332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <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>
