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      <invstOrSec>
        <name>MOTIVA ENTERPRISES LLC</name>
        <lei>UQZ4EDMHL4ZESPZY3752</lei>
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          <isin value="US61980AAC71"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-01-15</maturityDt>
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      <invstOrSec>
        <name>MAIN STREET CAPITAL CORPORATION</name>
        <lei>5493001FS9QJLJNF3E20</lei>
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          <isin value="US56035LAD64"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>538925.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-01</maturityDt>
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      <invstOrSec>
        <name>MADISON CNTY N Y CAP RESOURCE CORP REV</name>
        <lei>N/A</lei>
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        <cusip>557363DN5</cusip>
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          <isin value="US557363DN59"/>
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        <valUSD>501770.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RECKITT BENCKISER TREASURY SERVICES PLC</name>
        <lei>213800LAXWIUOOBZ3908</lei>
        <title>RECKITT BENCKISER TREASURY SERVICES PLC</title>
        <cusip>75625QAC3</cusip>
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          <isin value="US75625QAC33"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>402656.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-06-24</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SENIOR HOUSING PROPERTIES TRUST</name>
        <lei>N/A</lei>
        <title>SENIOR HOUSING PROPERTIES TRUST</title>
        <cusip>81721MAG4</cusip>
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          <isin value="US81721MAG42"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>530255.00000000</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>2021-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TTX COMPANY</name>
        <lei>549300I8CNSYS1OGX775</lei>
        <title>TTX CO</title>
        <cusip>87305QCK5</cusip>
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          <isin value="US87305QCK58"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>501055.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CNH EQUIPMENT TRUST</name>
        <lei>N/A</lei>
        <title>CNH EQUIPMENT TRUST 2017-B</title>
        <cusip>12637BAF8</cusip>
        <identifiers>
          <isin value="US12637BAF85"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>502416.50000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.47000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SEMPRA ENERGY</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>SEMPRA ENERGY</title>
        <cusip>816851BF5</cusip>
        <identifiers>
          <isin value="US816851BF50"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>407700.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ANGLOGOLD ASHANTI HOLDINGS PLC</name>
        <lei>213800745ZIXC4L6A131</lei>
        <title>ANGLOGOLD HOLDINGS PLC</title>
        <cusip>03512TAA9</cusip>
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          <isin value="US03512TAA97"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>755490.00000000</valUSD>
        <pctVal>0.808446532430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WIS HEALTHCARE FACS REV</name>
        <lei>N/A</lei>
        <title>PUBLIC FINANCE AUTHORITY</title>
        <cusip>74444KAL8</cusip>
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          <isin value="US74444KAL89"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500350.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <name>DCP MIDSTREAM OPERATING, LP</name>
        <lei>549300Y6CTBSE0QIPL28</lei>
        <title>DCP MIDSTREAM OPERATING LP</title>
        <cusip>23311RAD8</cusip>
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          <isin value="US23311RAD89"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>753990.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNILEVER CAPITAL CORPORATION</name>
        <lei>MYF1DAS6G5WY7PRWCU78</lei>
        <title>UNILEVER CAPITAL CORP</title>
        <cusip>904764AX5</cusip>
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          <isin value="US904764AX59"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>767932.50000000</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>2024-05-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
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        <name>Regions Bank</name>
        <lei>EQTWLK1G7ODGC2MGLV11</lei>
        <title>REGIONS BANK/BIRMINGHAM AL</title>
        <cusip>759187CB1</cusip>
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          <isin value="US759187CB19"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>403200.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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        <name>MASSACHUSETTS ST DEV FIN AGY  REV</name>
        <lei>N/A</lei>
        <title>MASSACHUSETTS ST DEV</title>
        <cusip>57584YQL6</cusip>
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          <isin value="US57584YQL64"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>502045.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.52200000</annualizedRt>
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        <name>EXXON MOBIL CORPORATION</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>EXXON MOBIL CORP</title>
        <cusip>30231GAJ1</cusip>
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        <balance>500000.00000000</balance>
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        <valUSD>506275.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>THE HOME DEPOT, INC.</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>HOME DEPOT INC</title>
        <cusip>43707LA90</cusip>
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        <balance>920000.00000000</balance>
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        <valUSD>919640.74000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>VIRGINIA ST RES AUTH INFRASTRUCTURE REV</name>
        <lei>N/A</lei>
        <title>VIRGINIA RESOURCES AUTHORITY</title>
        <cusip>92818NHL5</cusip>
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          <isin value="US92818NHL55"/>
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        <balance>182000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>181901.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>METHANEX CORPORATION</name>
        <lei>549300TSJHRXT9QXRD13</lei>
        <title>METHANEX CORP</title>
        <cusip>59151KAG3</cusip>
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          <isin value="US59151KAG31"/>
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        <curCd>USD</curCd>
        <valUSD>524495.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DRIVE AUTO RECEIVABLES TRUST</name>
        <lei>N/A</lei>
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          <isin value="US26209BAF67"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-15</maturityDt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-10-15</maturityDt>
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          <annualizedRt>1.62500000</annualizedRt>
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      <invstOrSec>
        <name>HEATHROW FUNDING LIMITED</name>
        <lei>7TI96JO3DYEIQWZ7Z726</lei>
        <title>HEATHROW FUNDING LTD</title>
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          <isin value="US05607MAA53"/>
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        <curCd>USD</curCd>
        <valUSD>492598.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-07-15</maturityDt>
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      <invstOrSec>
        <name>Landesbank Baden Wuerttemberg (New York Branch)</name>
        <lei>N/A</lei>
        <title>LANDESBK BADEN-WURTT NY</title>
        <cusip>5148X0A96</cusip>
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          <isin value="US5148X0A962"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1499275.50000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO</title>
        <cusip>94974BFR6</cusip>
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          <isin value="US94974BFR69"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>505685.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-01-22</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>FORD MOTOR CREDIT COMPANY LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>FORD MOTOR CREDIT CO LLC</title>
        <cusip>345397VM2</cusip>
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          <isin value="US345397VM25"/>
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        <balance>775000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>776387.25000000</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>2020-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CK HUTCHISON INTERNATIONAL (17) (II) LIMITED</name>
        <lei>254900F7C0PB6TKONV55</lei>
        <title>CK HUTCHISON INTERNATIONAL 17 II LTD</title>
        <cusip>12563XAB7</cusip>
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          <isin value="US12563XAB73"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>754597.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SANTANDER DRIVE AUTO RECEIVABLES TRUST</name>
        <lei>N/A</lei>
        <title>SANTANDER DRIVE AUTO RECEIVABLES TRUST 2016-1</title>
        <cusip>80285EAF4</cusip>
        <identifiers>
          <isin value="US80285EAF43"/>
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        <balance>8314.41000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8316.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.09000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AIRCASTLE LIMITED</name>
        <lei>549300PNK8AKY3OIKP58</lei>
        <title>AIRCASTLE LTD</title>
        <cusip>00928QAS0</cusip>
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          <isin value="US00928QAS03"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>527835.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>EVERGREEN CREDIT CARD TRUST</name>
        <lei>N/A</lei>
        <title>EVERGREEN CREDIT CARD TRUST</title>
        <cusip>30023JBD9</cusip>
        <identifiers>
          <isin value="US30023JBD90"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>745415.70000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.28800000</annualizedRt>
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        <name>ENERGY TRANSFER OPERATING, L.P.</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>ENERGY TRANSFER OPERATNG</title>
        <cusip>29278NAK9</cusip>
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          <isin value="US29278NAK90"/>
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        <balance>500000.00000000</balance>
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        <valUSD>520010.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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        <name>AIR LEASE CORPORATION</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>AIR LEASE CORP</title>
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        <balance>500000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>SAN JOSE CALIF REDEV AGY SUCCESSOR AGY TAX ALLOCATION</name>
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        <issuerCat>MUN</issuerCat>
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        <name>PUBLIC SERVICE ELECTRIC AND GAS COMPANY</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>STANLEY BLACK &amp; DECKER, INC.</name>
        <lei>549300DJ09SMTO561131</lei>
        <title>STANLEY BLACK &amp; DECKER</title>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SCF EQUIPMENT TRUST LLC</name>
        <lei>N/A</lei>
        <title>SCF EQUIPMENT TRUST LIC</title>
        <cusip>784034AB6</cusip>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>749052.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.47000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Philip Morris International Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTERNATIONAL INC</title>
        <cusip>718172AL3</cusip>
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          <isin value="US718172AL38"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>763537.50000000</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>2021-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</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>Santander Holdings USA, Inc.</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>SANTANDER HOLDINGS USA INC</title>
        <cusip>80282KAU0</cusip>
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          <isin value="US80282KAU07"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>259775.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-12-03</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. TREASURY NOTE</title>
        <cusip>912828S92</cusip>
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          <isin value="US912828S927"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1479960.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BOSTON PROPERTIES LIMITED PARTNERSHIP</name>
        <lei>BVHHEFJI6SHNOKQT2572</lei>
        <title>BOSTON PROPERTIES LP</title>
        <cusip>10112RAS3</cusip>
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          <isin value="US10112RAS31"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>767782.50000000</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>2021-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MIDWEST CONNECTOR CAPITAL COMPANY LLC</name>
        <lei>N/A</lei>
        <title>MIDWEST CONNECTOR CAPIT</title>
        <cusip>59833CAB8</cusip>
        <identifiers>
          <isin value="US59833CAB81"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>513385.00000000</valUSD>
        <pctVal>0.549371034761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</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>HAMILTON CNTY OHIO HEALTH CARE FACS REV</name>
        <lei>N/A</lei>
        <title>HAMILTON CNTY OH HLTH CARE FACS REVENUE</title>
        <cusip>40727TCZ5</cusip>
        <identifiers>
          <isin value="US40727TCZ57"/>
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        <balance>325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>325653.25000000</valUSD>
        <pctVal>0.348480113220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37100000</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>PRIMERICA, INC.</name>
        <lei>254900621R686KJR7022</lei>
        <title>PRIMERICA INC</title>
        <cusip>74164MAA6</cusip>
        <identifiers>
          <isin value="US74164MAA62"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>426128.00000000</valUSD>
        <pctVal>0.455997702116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</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>CHICAGO ILL WASTEWATER TRANSMISSION REV</name>
        <lei>N/A</lei>
        <title>CITY OF CHICAGO IL WASTEWATER TRANSMISSION REVENUE</title>
        <cusip>167727VR4</cusip>
        <identifiers>
          <isin value="US167727VR45"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500000.00000000</valUSD>
        <pctVal>0.535047805021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.72700000</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>FLAGSTAR BANCORP, INC.</name>
        <lei>549300Q22V2Y3J4R2715</lei>
        <title>FLAGSTAR BANCORP INC</title>
        <cusip>337930AC5</cusip>
        <identifiers>
          <isin value="US337930AC56"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>519460.00000000</valUSD>
        <pctVal>0.555871865592</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</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>SILVERSEA CRUISE FINANCE LTD</name>
        <lei>N/A</lei>
        <title>SILVERSEA CRUISE FINANCE</title>
        <cusip>82845LAA8</cusip>
        <identifiers>
          <isin value="US82845LAA89"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>793237.50000000</valUSD>
        <pctVal>0.848839966470</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BS</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</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>ARAMARK SERVICES, INC.</name>
        <lei>42YMHYH0XMHJEXDUB065</lei>
        <title>ARAMARK SERVICES INC</title>
        <cusip>038522AK4</cusip>
        <identifiers>
          <isin value="US038522AK47"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>769695.00000000</valUSD>
        <pctVal>0.823647240571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</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>MPLX LP</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP</title>
        <cusip>55336VAY6</cusip>
        <identifiers>
          <isin value="US55336VAY65"/>
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        <balance>271000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>279257.37000000</valUSD>
        <pctVal>0.298832085708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>INFINITY PROPERTY AND CASUALTY CORPORATION</name>
        <lei>254900FQY2VRRSR24U64</lei>
        <title>INFINITY PROPERTY &amp; CASU</title>
        <cusip>45665QAF0</cusip>
        <identifiers>
          <isin value="US45665QAF00"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>530415.00000000</valUSD>
        <pctVal>0.567594763000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>CONSTELLATION BRANDS, INC.</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>CONSTELLATION BRANDS INC</title>
        <cusip>21036PAR9</cusip>
        <identifiers>
          <isin value="US21036PAR91"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>404988.00000000</valUSD>
        <pctVal>0.433375880919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LOVELAND COLO ELEC &amp; COMMUNICATION ENTERPRISE REV</name>
        <lei>N/A</lei>
        <title>CITY OF LOVELAND CO</title>
        <cusip>547206AK8</cusip>
        <identifiers>
          <isin value="US547206AK81"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>612276.00000000</valUSD>
        <pctVal>0.655193859734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.85400000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MARRIOTT INTERNATIONAL, INC.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>MARRIOTT INTERNATIONAL</title>
        <cusip>57163TA33</cusip>
        <identifiers>
          <isin value="US57163TA339"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499926.46000000</valUSD>
        <pctVal>0.534969110189</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. TREASURY NOTE</title>
        <cusip>9128282W9</cusip>
        <identifiers>
          <isin value="US9128282W90"/>
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        <balance>1450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1461214.85000000</valUSD>
        <pctVal>1.563639596313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</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>THE AES CORPORATION</name>
        <lei>2NUNNB7D43COUIRE5295</lei>
        <title>AES CORP/THE</title>
        <cusip>00130HBZ7</cusip>
        <identifiers>
          <isin value="US00130HBZ73"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>507950.00000000</valUSD>
        <pctVal>0.543555065120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>SYNCHRONY CREDIT CARD MASTER NOTE TRUST</name>
        <lei>N/A</lei>
        <title>SYNCHRONY CREDIT CARD MASTER NOTE TRUST</title>
        <cusip>87165LBQ3</cusip>
        <identifiers>
          <isin value="US87165LBQ32"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499726.50000000</valUSD>
        <pctVal>0.534755133871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>BANK OF THE WEST AUTO TRUST</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>AMERICREDIT AUTOMOBILE RECEIVABLES TRUST</name>
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          <isin value="US03066FAG63"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>SBA TOWER TRUST</name>
        <lei>N/A</lei>
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          <isin value="US78403DAN03"/>
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        <balance>750000.00000000</balance>
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        <name>WFRBS COMMERCIAL MORTGAGE TRUST</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FORD MOTOR CREDIT COMPANY LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SANTANDER UK GROUP HOLDINGS PLC</name>
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          <isin value="US80281LAH87"/>
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        <balance>250000.00000000</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>2024-01-05</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>SANTANDER DRIVE AUTO RECEIVABLES TRUST</name>
        <lei>N/A</lei>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>LUBBOCK TEX WTR &amp; WASTEWATER SYS REV</name>
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        <title>LUBBOCK TX WATER &amp; WASTEWATER SYSTEM</title>
        <cusip>549233BW3</cusip>
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          <isin value="US549233BW30"/>
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        <balance>750000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MADISON PARK FUNDING, LTD.</name>
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      <invstOrSec>
        <name>CITIGROUP INC.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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        <name>SPRINT SPECTRUM CO LLC</name>
        <lei>N/A</lei>
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        <balance>175000.00000000</balance>
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          <annualizedRt>3.36000000</annualizedRt>
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        <name>TEXAS ST</name>
        <lei>N/A</lei>
        <title>STATE OF TEXAS</title>
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          <isin value="US882724GU53"/>
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        <balance>500000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
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        <name>CITIGROUP COMMERCIAL MORTGAGE TRUST</name>
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          <isin value="USU1740MAC56"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>HSBC FINANCE CORPORATION</name>
        <lei>213800NQZ5NL1KSD7V45</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>HOUSTON TEX</name>
        <lei>N/A</lei>
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        <name>MICHIGAN FIN AUTH REV</name>
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        <name>ECORSE MICH PUB SCH DIST</name>
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        <name>EXETER AUTOMOBILE RECEIVABLES TRUST</name>
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        <name>TEXAS A &amp; M UNIV REVS</name>
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        <name>OAKTREE EIF III LTD</name>
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        <name>Santander Holdings USA, Inc.</name>
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        <name>Altria Group, Inc.</name>
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        <name>PARK CREEK MET DIST COLO REV</name>
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        <name>MMAF EQUIPMENT FINANCE LLC</name>
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        <name>SCRANTON PA SCH DIST</name>
        <lei>N/A</lei>
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        <name>SCENTRE GROUP TRUST 1</name>
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        <name>TYCO ELECTRONICS GROUP S.A.</name>
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        <name>SSM HEALTH CARE CORPORATION</name>
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        <name>METROPOLITAN LIFE GLOBAL FUNDING I</name>
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        <name>WALMART INC.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
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          <maturityDt>2025-06-26</maturityDt>
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        <name>OCCIDENTAL PETROLEUM CORPORATION</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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        <name>TEXAS A &amp; M UNIV REVS</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>501575.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.12000000</annualizedRt>
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        <name>RELIANCE STEEL &amp; ALUMINUM CO.</name>
        <lei>549300E287ZOFT3C5Z56</lei>
        <title>RELIANCE STEEL &amp; ALUM</title>
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        <curCd>USD</curCd>
        <valUSD>424196.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>ZIONS BANCORPORATION, NATIONAL ASSOCIATION</name>
        <lei>8WH0EE09O9V05QJZ3V89</lei>
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        <cusip>98971DAA8</cusip>
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        <balance>500000.00000000</balance>
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        <valUSD>512485.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-03-04</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>SIERRA PACIFIC POWER COMPANY</name>
        <lei>QB888G5GSVGE1LD1WV84</lei>
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        <balance>500000.00000000</balance>
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        <valUSD>518440.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-08-15</maturityDt>
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          <annualizedRt>3.37500000</annualizedRt>
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        <name>NUSTAR LOGISTICS, L.P.</name>
        <lei>N62BF2PKP51FIIOIUN20</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>CVS HEALTH CORPORATION</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP</title>
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        <name>TIAA FSB HOLDINGS, INC.</name>
        <lei>549300ZSQX8IP0RAE826</lei>
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        <name>SMITHS GROUP PLC</name>
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        <invCountry>GB</invCountry>

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        <name>ENABLE OKLAHOMA INTRASTATE TRANSMISSION, LLC</name>
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        <name>NEW YORK ST DORM AUTH ST PERS INCOME TAX REV</name>
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        <name>ROCKIES EXPRESS PIPELINE LLC</name>
        <lei>W2ZGZGZKY5GGNY6F3V51</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ETP LEGACY LP</name>
        <lei>RY1052DWLDPLDW74Y843</lei>
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          <isin value="US29277EA201"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PAPIO-MISSOURI RIV NAT RES DIST NEB</name>
        <lei>N/A</lei>
        <title>PAPIO-MISSOURI RIVER NATURAL RESOURCE DISTRICT</title>
        <cusip>698874EM2</cusip>
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          <isin value="US698874EM20"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NEW JERSEY ECONOMIC DEV AUTH ST LEASE REV</name>
        <lei>N/A</lei>
        <title>NEW JERSEY ECONOMIC DEVELOPMENT AUTHORITY</title>
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          <isin value="US64578ELJ46"/>
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        <balance>250000.00000000</balance>
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        <valUSD>251455.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-06-15</maturityDt>
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      <invstOrSec>
        <name>BROADCOM INC.</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>BROADCOM INC</title>
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          <isin value="US11135FAA93"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>506055.00000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-04-15</maturityDt>
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      <invstOrSec>
        <name>OFFICE PROPERTIES INCOME TRUST</name>
        <lei>N/A</lei>
        <title>OFFICE PROPERTIES INCOME TRUST</title>
        <cusip>81618TAB6</cusip>
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          <isin value="US81618TAB61"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>600000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</annualizedRt>
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      <invstOrSec>
        <name>PALMER SQUARE LOAN FUNDING LTD.</name>
        <lei>N/A</lei>
        <title>PALMER SQUARE LOAN FUNDING 2018-2 LTD</title>
        <cusip>69700HAA8</cusip>
        <identifiers>
          <isin value="US69700HAA86"/>
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        <balance>335038.81000000</balance>
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        <curCd>USD</curCd>
        <valUSD>334335.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.65088000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RELIANCE STANDARD LIFE GLOBAL FUNDING II</name>
        <lei>N/A</lei>
        <title>RELIANCE STANDARD LIFE GLOBAL FUNDING II</title>
        <cusip>75951AAB4</cusip>
        <identifiers>
          <isin value="US75951AAB44"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>500065.00000000</valUSD>
        <pctVal>0.535117361235</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ORIX CORPORATION</name>
        <lei>35380016EMHNBOVYE123</lei>
        <title>ORIX CORP</title>
        <cusip>N/A</cusip>
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          <isin value="XS1118197778"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>401728.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EQT CORPORATION</name>
        <lei>4NT01YGM4X7ZX86ISY52</lei>
        <title>EQT CORP</title>
        <cusip>26884LAD1</cusip>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>499665.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-01</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>BBVA Bancomer SA (Houston Branch)</name>
        <lei>N/A</lei>
        <title>BBVA BANCOMER SA/TEXAS</title>
        <cusip>05533UAB4</cusip>
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          <isin value="US05533UAB44"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>260907.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-03-10</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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        <name>WESTLAKE AUTOMOBILE RECEIVABLES TRUST</name>
        <lei>N/A</lei>
        <title>WESTLAKE AUTOMOBILE RECEIVABLES TRUST</title>
        <cusip>96041LAE2</cusip>
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          <isin value="US96041LAE20"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>502375.50000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>TIME WARNER CABLE, LLC</name>
        <lei>549300U5NFR7S6E3GM41</lei>
        <title>TIME WARNER CABLE, INC.</title>
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          <isin value="US88732JAW80"/>
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        <valUSD>1252375.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>DALLAS FORT WORTH TEX INTL ARPT REV</name>
        <lei>N/A</lei>
        <title>DALLAS-FORT WORTH TX INTERNATIONAL ARPT REVENUE</title>
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          <isin value="US2350364K35"/>
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        <balance>750000.00000000</balance>
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        <valUSD>743055.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-01</maturityDt>
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          <annualizedRt>2.03900000</annualizedRt>
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      <invstOrSec>
        <name>WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORPORATION</name>
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          <isin value="US960386AP59"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>NORFOLK VA</name>
        <lei>N/A</lei>
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        <balance>750000.00000000</balance>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>AIR LEASE CORPORATION</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>AIR LEASE CORP</title>
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          <isin value="US00914AAD46"/>
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        <balance>250000.00000000</balance>
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        <valUSD>250557.50000000</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>2023-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ASSOCIATED BANK, NATIONAL ASSOCIATION</name>
        <lei>ZF85QS7OXKPBG52R7N18</lei>
        <title>ASSOCIATED BANK NA/GREEN BAY WI</title>
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        <balance>500000.00000000</balance>
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        <valUSD>508610.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PSNH FUNDING LLC</name>
        <lei>N/A</lei>
        <title>PSNH FUNDING LLC 3</title>
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          <isin value="US69363PAA84"/>
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        <balance>389080.57000000</balance>
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        <curCd>USD</curCd>
        <valUSD>396681.65000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.09400000</annualizedRt>
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      <invstOrSec>
        <name>PALMER SQUARE LOAN FUNDING LTD.</name>
        <lei>N/A</lei>
        <title>PALMER SQUARE LOAN FUNDING 2018-2 LTD</title>
        <cusip>69700HAC4</cusip>
        <identifiers>
          <isin value="US69700HAC43"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>496350.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.05088000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORPORATION</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CORP</title>
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          <isin value="US14040HBR57"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>351018.50000000</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>2020-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NATIONAL FUEL GAS COMPANY</name>
        <lei>8JB38FFW1Y3C1HM8E841</lei>
        <title>NATIONAL FUEL GAS CO</title>
        <cusip>636180BK6</cusip>
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          <isin value="US636180BK65"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>521330.00000000</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>2021-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</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>COLORADO HEALTH FACS AUTH REV</name>
        <lei>N/A</lei>
        <title>COLORADO ST HLTH FACS AUTHHOSP REVENUE</title>
        <cusip>19648FNK6</cusip>
        <identifiers>
          <isin value="US19648FNK65"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>750682.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.23700000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SCF EQUIPMENT LEASING LLC</name>
        <lei>N/A</lei>
        <title>SCF EQUIPMENT LEASING 2017-2 LLC</title>
        <cusip>784012AA4</cusip>
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          <isin value="US784012AA45"/>
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        <balance>93181.07000000</balance>
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        <curCd>USD</curCd>
        <valUSD>93378.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.41000000</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>HOUSTON TEX</name>
        <lei>N/A</lei>
        <title>CITY OF HOUSTON TX</title>
        <cusip>4423312W3</cusip>
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          <isin value="US4423312W37"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>151014.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.61800000</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>ECOLAB INC.</name>
        <lei>82DYEISM090VG8LTLS26</lei>
        <title>ECOLAB INC</title>
        <cusip>278865AL4</cusip>
        <identifiers>
          <isin value="US278865AL43"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>418712.00000000</valUSD>
        <pctVal>0.448061873071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GM FINANCIAL CONSUMER AUTOMOBILE RECEIVABLES TRUST</name>
        <lei>N/A</lei>
        <title>GM FINANCIAL CONSUMER AUTOMOBILE RECEIVABLES TRUST</title>
        <cusip>36255JAD6</cusip>
        <identifiers>
          <isin value="US36255JAD63"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>506142.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.02000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASSURANT, INC.</name>
        <lei>H3F39CAXWQRVWURFXL38</lei>
        <title>ASSURANT INC</title>
        <cusip>04621XAL2</cusip>
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          <isin value="US04621XAL29"/>
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        <balance>66000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>65980.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-26</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.19663000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PEARSON FUNDING FOUR LIMITED</name>
        <lei>2138008AYJQJHGJX3Y13</lei>
        <title>PEARSON FUNDING FOUR PLC</title>
        <cusip>705011AA2</cusip>
        <identifiers>
          <isin value="US705011AA25"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>755197.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PORT MORROW ORE TRANSMISSION FACS REV</name>
        <lei>N/A</lei>
        <title>PORT OF MORROW OR</title>
        <cusip>73474TAQ3</cusip>
        <identifiers>
          <isin value="US73474TAQ31"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>752745.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.17900000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>PARK AEROSPACE HOLDINGS LIMITED</name>
        <lei>635400CPI3EOIFF6OC33</lei>
        <title>PARK AEROSPACE HOLDINGS</title>
        <cusip>70014LAD2</cusip>
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          <isin value="US70014LAD29"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>507195.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>CITIZENS BANK, NATIONAL ASSOCIATION</name>
        <lei>DRMSV1Q0EKMEXLAU1P80</lei>
        <title>CITIZENS BANK NA/PROVIDENCE RI</title>
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          <isin value="US17401QAN16"/>
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        <balance>294000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>294526.26000000</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>2020-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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        <name>GREATAMERICA LEASING RECEIVABLES FUNDING, L.L.C.</name>
        <lei>N/A</lei>
        <title>GREATAMERICA LEASING RECEIVABLES FUNDING LLC SERIE</title>
        <cusip>39154TAR9</cusip>
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          <isin value="USU42550AR16"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>505538.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-17</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>MICHIGAN FIN AUTH REV</name>
        <lei>N/A</lei>
        <title>MICHIGAN ST FIN AUTH REVENUE</title>
        <cusip>59447TXN8</cusip>
        <identifiers>
          <isin value="US59447TXN89"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>184805.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.20800000</annualizedRt>
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        <name>ELANCO ANIMAL HEALTH INCORPORATED</name>
        <lei>549300SHPNDCE059M934</lei>
        <title>ELANCO ANIMAL HEALTH INC</title>
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          <isin value="US28414HAF01"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>511640.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-08-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.91200000</annualizedRt>
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        <securityLending>
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        <name>CENTENE CORPORATION</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dominion Energy, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>The Huntington National Bank</name>
        <lei>2WHM8VNJH63UN14OL754</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-04-01</maturityDt>
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          <annualizedRt>2.40000000</annualizedRt>
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      <invstOrSec>
        <name>CONNECTICUT ST</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-09-15</maturityDt>
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        <name>ANHEUSER-BUSCH INBEV WORLDWIDE INC.</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EDP Finance B.V.</name>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-01-15</maturityDt>
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        <name>HYUNDAI CAPITAL AMERICA</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>HYUNDAI CAPITAL AMERICA</title>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-06-20</maturityDt>
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      <invstOrSec>
        <name>CARMAX AUTO OWNER TRUST</name>
        <lei>N/A</lei>
        <title>CARMAX AUTO OWNER TRUST 2016-1</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-08-16</maturityDt>
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        <name>WFRBS COMMERCIAL MORTGAGE TRUST</name>
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          <isin value="US92936TAC62"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-06-15</maturityDt>
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        <name>NEW YORK LIFE GLOBAL FUNDING</name>
        <lei>635400DPNHEAUHB7ZI15</lei>
        <title>NEW YORK LIFE GLOBAL FUNDING</title>
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          <isin value="US64952WCE12"/>
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        <balance>500000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Truist Financial Corporation</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>SUNTRUST BANKS INC</title>
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          <maturityDt>2021-03-03</maturityDt>
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        <name>OSCAR US FUNDING TRUST</name>
        <lei>549300GTSLUONMR77U11</lei>
        <title>OSCAR US FUNDING TRUST VI LLC</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>NEWELL BRANDS INC.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>NEWELL BRANDS INC</title>
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          <isin value="US651229AU09"/>
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        <balance>750000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2021-04-01</maturityDt>
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        <name>SOUTH JERSEY TRANSN AUTH N J TRANSN SYS REV</name>
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        <name>DENVER COLO CITY &amp; CNTY HSG AUTH INTERGOVERNMENTAL AGREEMENT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EQM Midstream Partners, LP</name>
        <lei>549300NELT611CL6XM83</lei>
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        <name>ALIMENTATION COUCHE-TARD INC.</name>
        <lei>549300OSW32RVX8CCZ87</lei>
        <title>ALIMENTATION COUCHE-TARD INC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>PROTECTIVE LIFE GLOBAL FUNDING</name>
        <lei>635400EVYITCJYWL2I50</lei>
        <title>PROTECTIVE LIFE GLOBAL</title>
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        <securityLending>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>STERLING BANCORP</name>
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        <curCd>USD</curCd>
        <valUSD>574988.80000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-06-08</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-01-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Victory Portfolios II</ncom:nameOfApplicant>
      <ncom:signature>Allan Shaer</ncom:signature>
      <ncom:signerName>Allan Shaer</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
