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        <name>Quanta Services, Inc.</name>
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        <name>Ryder System, Inc.</name>
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        <name>QUALCOMM Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic Services, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Wabtec Corp</name>
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        <name>Roper Technologies Inc</name>
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        <name>Diamondback Energy Inc</name>
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        <name>Extra Space Storage LP</name>
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        <name>Stanley Black &amp; Decker, Inc.</name>
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        <name>Mondelez International, Inc.</name>
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        <name>Cabot Corporation</name>
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        <name>Mondelez International, Inc.</name>
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        <name>Camden Property Trust</name>
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        <name>First Citizens Bank &amp; Trust Company</name>
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        <name>Amphenol Corporation</name>
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        <title>APH 5.05 04/05/27</title>
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        <name>Amcor Finance (USA) Inc.</name>
        <lei>549300ZMT7FVT8R77U18</lei>
        <title>AMCR 4 1/2 05/15/28</title>
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        <name>Extra Space Storage LP</name>
        <lei>549300YNKSKNZFR8UC42</lei>
        <title>EXR 2.55 06/01/31</title>
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        <name>Caterpillar Inc</name>
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        <name>Omega Healthcare Investors, Inc.</name>
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        <name>WEC Energy Group Inc.</name>
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        <name>Crown Castle Inc.</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <name>Conagra Brands Inc</name>
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        <name>Steel Dynamics, Inc.</name>
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        <name>LXP Industrial Trust</name>
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        <name>BorgWarner Inc.</name>
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        <name>Targa Resources Partners LP/Targa Resources Finance Corp.</name>
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        <name>Eversource Energy</name>
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        <name>Carlisle Companies Inc.</name>
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        <name>Amdocs Limited</name>
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        <title>DOX 2.538 06/15/30</title>
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        <name>Kyndryl Holdings Inc</name>
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        <name>Public Service Enterprise Group Incorporated</name>
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        <name>Ingersoll Rand Inc</name>
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      <invstOrSec>
        <name>Regions Financial Corporation</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>RF 1.8 08/12/28</title>
        <cusip>7591EPAT7</cusip>
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          <isin value="US7591EPAT77"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>947391.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.80000000</annualizedRt>
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      <invstOrSec>
        <name>Skyworks Solutions, Inc.</name>
        <lei>549300WZ3ORQ2BVKBD96</lei>
        <title>SWKS 3 06/01/31</title>
        <cusip>83088MAL6</cusip>
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          <isin value="US83088MAL63"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>911909.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Fortinet Inc</name>
        <lei>549300O0QJWDBAS0QX03</lei>
        <title>FTNT 2.2 03/15/31</title>
        <cusip>34959EAB5</cusip>
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          <isin value="US34959EAB56"/>
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        <balance>10400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9432963.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.20000000</annualizedRt>
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      <invstOrSec>
        <name>MPLX LP</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX 5.4 04/01/35</title>
        <cusip>55336VBY5</cusip>
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          <isin value="US55336VBY56"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1024278.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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      <invstOrSec>
        <name>Newmont Corporation</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>NEM 2.6 07/15/32</title>
        <cusip>651639AZ9</cusip>
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          <isin value="US651639AZ99"/>
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        <balance>10400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9569769.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
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      <invstOrSec>
        <name>Stanley Black &amp; Decker, Inc.</name>
        <lei>549300DJ09SMTO561131</lei>
        <title>SWK 3 05/15/32</title>
        <cusip>854502AQ4</cusip>
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          <isin value="US854502AQ45"/>
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        <balance>10400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9570763.49000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Schlumberger Holdings Corporation</name>
        <lei>529900IKZG65COT1D505</lei>
        <title>SLB 3.9 05/17/28</title>
        <cusip>806851AK7</cusip>
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          <isin value="US806851AK71"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1001421.88000000</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>2028-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>Ventas Realty Limited Partnership</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
        <title>VTR 4.4 01/15/29</title>
        <cusip>92277GAN7</cusip>
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          <isin value="US92277GAN79"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1010276.21000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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        <name>National Fuel Gas Company</name>
        <lei>8JB38FFW1Y3C1HM8E841</lei>
        <title>NFG 2.95 03/01/31</title>
        <cusip>636180BR1</cusip>
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          <isin value="US636180BR19"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>929946.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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        <name>Boston Properties LP</name>
        <lei>BVHHEFJI6SHNOKQT2572</lei>
        <title>BXP 3 1/4 01/30/31</title>
        <cusip>10112RBD5</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>MSCI Inc.</name>
        <lei>549300HTIN2PD78UB763</lei>
        <title>MSCI 5 1/4 09/01/35</title>
        <cusip>55354GAR1</cusip>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-09-01</maturityDt>
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        <name>Marvell Technology Inc</name>
        <lei>N/A</lei>
        <title>MRVL 2.95 04/15/31</title>
        <cusip>573874AJ3</cusip>
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          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Atmos Energy Corp.</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
        <title>ATO 2 5/8 09/15/29</title>
        <cusip>049560AR6</cusip>
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        <name>Cboe Global Markets Inc</name>
        <lei>529900RLNSGA90UPEH54</lei>
        <title>CBOE 3.65 01/12/27</title>
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        <name>Prologis, L.P.</name>
        <lei>GL16H1DHB0QSHP25F723</lei>
        <title>PLD 1 1/4 10/15/30</title>
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        <name>Kinder Morgan, Inc.</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>KMI 5.2 06/01/33</title>
        <cusip>49456BAX9</cusip>
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        <name>EQT Corporation</name>
        <lei>4NT01YGM4X7ZX86ISY52</lei>
        <title>EQT 7 02/01/30</title>
        <cusip>26884LAG4</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>RSG 2.3 03/01/30</title>
        <cusip>760759AV2</cusip>
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        <name>Republic Services, Inc.</name>
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        <name>Trimble Inc</name>
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        <name>The Progressive Corporation</name>
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        <name>Public Storage</name>
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        <name>Archer-Daniels-Midland Co.</name>
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        <name>Jabil Inc</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <name>Waste Management, Inc.</name>
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        <name>Jabil Inc</name>
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        <name>Essential Utilities Inc</name>
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        <name>Amphenol Corporation</name>
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        <name>Aptargroup Inc.</name>
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        <name>Prologis, L.P.</name>
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        <name>Ventas Realty Limited Partnership</name>
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        <name>Omega Healthcare Investors, Inc.</name>
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        <name>The Progressive Corporation</name>
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        <name>Atmos Energy Corp.</name>
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        <name>Revvity Inc</name>
        <lei>549300IKL1SDPFI7N655</lei>
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        <name>Albemarle Corp</name>
        <lei>HDBLS2Q6GV1LSKQPBS54</lei>
        <title>ALB 4.65 06/01/27</title>
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        <name>KLA Corp.</name>
        <lei>549300H0BF5JCG96TJ81</lei>
        <title>KLAC 4.7 02/01/34</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-01</maturityDt>
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          <annualizedRt>4.70000000</annualizedRt>
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        <name>QUALCOMM Inc.</name>
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        <title>QCOM 2.15 05/20/30</title>
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        <fairValLevel>2</fairValLevel>
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        <name>UDR Inc</name>
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        <name>Roper Technologies Inc</name>
        <lei>54930003T4SXCIWVXY35</lei>
        <title>ROP 3.8 12/15/26</title>
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        <name>Boston Properties LP</name>
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        <title>BXP 2.55 04/01/32</title>
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        <name>Ryder System, Inc.</name>
        <lei>ZXJ6Y2OSPZXIVGRILD15</lei>
        <title>R 6.6 12/01/33</title>
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        <name>Digital Realty Trust, L.P.</name>
        <lei>CD4SPTZ3YBTHY0C1AH38</lei>
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        <name>Waste Connections Inc.</name>
        <lei>549300ZX1Z8QGWASPX54</lei>
        <title>WCNCN 4 1/4 12/01/28</title>
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        <name>Veralto Corp.</name>
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        <name>MPLX LP</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX 4.95 09/01/32</title>
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        <name>Parker-Hannifin Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Broadcom Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Pulte Group Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>The Campbells Co.</name>
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        <name>Carlisle Companies Inc.</name>
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        <name>Tennessee Gas Pipeline Company</name>
        <lei>N/A</lei>
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        <name>BorgWarner Inc.</name>
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        <name>W. P. Carey Inc</name>
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        <title>WPC 2.4 02/01/31</title>
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        <name>Quanta Services, Inc.</name>
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        <name>Oneok Inc.</name>
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        <name>Agco Corporation</name>
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        <name>Baxter International, Inc.</name>
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        <name>McCormick &amp; Company, Incorporated</name>
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        <name>CSX Corporation</name>
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        <name>Air Lease Corporation</name>
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        <name>Verisk Analytics, Inc.</name>
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        <name>Fortune Brands Innovations Inc</name>
        <lei>54930032LHW54PQUJD44</lei>
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        <name>UDR Inc</name>
        <lei>P3CH2EG5X6Z1XWU1OO74</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Ingersoll Rand Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Essential Utilities Inc</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>LXP Industrial Trust</name>
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        <cusip>529537AA0</cusip>
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        <balance>1000000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-01</maturityDt>
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      <invstOrSec>
        <name>Solventum Corp.</name>
        <lei>254900I70403OSGY4M28</lei>
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          <isin value="US83444MAQ42"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-13</maturityDt>
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        <name>Royalty Pharma PLC</name>
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        <title>RPRX 5.4 09/02/34</title>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-09-02</maturityDt>
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        <name>Vulcan Materials Company</name>
        <lei>549300Q8LSNHAVWBNI21</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-01</maturityDt>
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      <invstOrSec>
        <name>Stanley Black &amp; Decker, Inc.</name>
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        <title>SWK 6 03/06/28</title>
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          <isin value="US854502AT83"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-06</maturityDt>
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      <invstOrSec>
        <name>KLA Corp.</name>
        <lei>549300H0BF5JCG96TJ81</lei>
        <title>KLAC 4.1 03/15/29</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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      <invstOrSec>
        <name>Amphenol Corporation</name>
        <lei>549300D3L3G0R4U4VT04</lei>
        <title>APH 2.8 02/15/30</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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      <invstOrSec>
        <name>KLA Corp.</name>
        <lei>549300H0BF5JCG96TJ81</lei>
        <title>KLAC 4.65 07/15/32</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
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        <name>Targa Resources Corp.</name>
        <lei>5493003QENHHS261UR94</lei>
        <title>TRGP 6 1/8 03/15/33</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>EQT Corporation</name>
        <lei>4NT01YGM4X7ZX86ISY52</lei>
        <title>EQT 5.7 04/01/28</title>
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        <name>MSCI Inc.</name>
        <lei>549300HTIN2PD78UB763</lei>
        <title>MSCI 3 5/8 11/01/31</title>
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        <name>Ventas Realty Limited Partnership</name>
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        <name>Kinder Morgan, Inc.</name>
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        <title>KMI 4.3 03/01/28</title>
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        <name>Verisk Analytics, Inc.</name>
        <lei>549300I1YSWNIRKBWP67</lei>
        <title>VRSK 4 1/8 03/15/29</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>EQT Corporation</name>
        <lei>4NT01YGM4X7ZX86ISY52</lei>
        <title>EQT 5 3/4 02/01/34</title>
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        <invCountry>US</invCountry>

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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Boston Properties LP</name>
        <lei>BVHHEFJI6SHNOKQT2572</lei>
        <title>BXP 3.4 06/21/29</title>
        <cusip>10112RBB9</cusip>
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          <isin value="US10112RBB96"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>974875.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Essential Utilities Inc</name>
        <lei>549300ILTEOF3E3QY357</lei>
        <title>WTRG 2.704 04/15/30</title>
        <cusip>29670GAD4</cusip>
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          <isin value="US29670GAD43"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>947076.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70400000</annualizedRt>
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      <invstOrSec>
        <name>Carlisle Companies Inc.</name>
        <lei>XR64VGX1ZPX6G7ZN7Z11</lei>
        <title>CSL 2 3/4 03/01/30</title>
        <cusip>142339AJ9</cusip>
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          <isin value="US142339AJ92"/>
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        <balance>10400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9889022.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Ventas Realty Limited Partnership</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
        <title>VTR 4 3/4 11/15/30</title>
        <cusip>92277GAV9</cusip>
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          <isin value="US92277GAV95"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1022221.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Valero Energy Corp.</name>
        <lei>549300XTO5VR8SKV1V74</lei>
        <title>VLO 4.35 06/01/28</title>
        <cusip>91913YAV2</cusip>
        <identifiers>
          <isin value="US91913YAV20"/>
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        <balance>10400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10496889.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</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>Genuine Parts Co</name>
        <lei>549300D46DQVEU651W04</lei>
        <title>GPC 1 7/8 11/01/30</title>
        <cusip>372460AA3</cusip>
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          <isin value="US372460AA38"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>883082.67000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Boston Properties LP</name>
        <lei>BVHHEFJI6SHNOKQT2572</lei>
        <title>BXP 4 1/2 12/01/28</title>
        <cusip>10112RBA1</cusip>
        <identifiers>
          <isin value="US10112RBA14"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1009393.76000000</valUSD>
        <pctVal>0.210411581605</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>BorgWarner Inc.</name>
        <lei>549300DSFX2IE88NSX47</lei>
        <title>BWA 5.4 08/15/34</title>
        <cusip>099724AQ9</cusip>
        <identifiers>
          <isin value="US099724AQ98"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1041695.26000000</valUSD>
        <pctVal>0.217144939757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</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>Roper Technologies Inc</name>
        <lei>54930003T4SXCIWVXY35</lei>
        <title>ROP 1 3/4 02/15/31</title>
        <cusip>776743AL0</cusip>
        <identifiers>
          <isin value="US776743AL02"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>879026.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kite Realty Group, L.P.</name>
        <lei>549300X6R2GYI8Y3OD81</lei>
        <title>KRG 4 3/4 09/15/30</title>
        <cusip>76131VAB9</cusip>
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          <isin value="US76131VAB99"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1020887.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Carlisle Companies Inc.</name>
        <lei>XR64VGX1ZPX6G7ZN7Z11</lei>
        <title>CSL 5 1/4 09/15/35</title>
        <cusip>142339AN0</cusip>
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          <isin value="US142339AN05"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1033159.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ingersoll Rand Inc</name>
        <lei>5299004C02FMZCUOIR50</lei>
        <title>IR 5.4 08/14/28</title>
        <cusip>45687VAA4</cusip>
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          <isin value="US45687VAA44"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>Extra Space Storage LP</name>
        <lei>549300YNKSKNZFR8UC42</lei>
        <title>EXR 3.9 04/01/29</title>
        <cusip>30225VAH0</cusip>
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          <isin value="US30225VAH06"/>
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        <curCd>USD</curCd>
        <valUSD>995821.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
          <isDefault>N</isDefault>
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        <name>NNN REIT Inc</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>NNN 2 1/2 04/15/30</title>
        <cusip>637417AN6</cusip>
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          <isin value="US637417AN66"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>Parker-Hannifin Corp.</name>
        <lei>5493002CONDB4N2HKI23</lei>
        <title>PH 4 1/2 09/15/29</title>
        <cusip>701094AS3</cusip>
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          <isin value="US701094AS32"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>RSG 1.45 02/15/31</title>
        <cusip>760759AX8</cusip>
        <identifiers>
          <isin value="US760759AX86"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>883515.96000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.45000000</annualizedRt>
          <isDefault>N</isDefault>
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        <name>Caterpillar Inc</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>CAT 1.9 03/12/31</title>
        <cusip>149123CK5</cusip>
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          <isin value="US149123CK50"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>910384.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>DTE Energy Co.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Omega Healthcare Investors, Inc.</name>
        <lei>549300OJ7ENK42CZ8E73</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Solventum Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Wabtec Corp</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Equifax Inc.</name>
        <lei>5493004MCF8JDC86VS77</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Entergy Corporation</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Oneok Inc.</name>
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        <name>The Campbells Co.</name>
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        <name>Flex Ltd.</name>
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        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>Trimble Inc</name>
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        <name>Crown Castle Inc.</name>
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        <name>Ryder System, Inc.</name>
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        <name>Roper Technologies Inc</name>
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        <name>Paychex Inc</name>
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        <name>Devon Energy Corporation</name>
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        <title>DVN 5.2 09/15/34</title>
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        <name>Prologis, L.P.</name>
        <lei>GL16H1DHB0QSHP25F723</lei>
        <title>PLD 1 5/8 03/15/31</title>
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        <name>QUALCOMM Inc.</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QCOM 5.4 05/20/33</title>
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        <name>Tractor Supply Co</name>
        <lei>549300OJ9VZHZRO6I137</lei>
        <title>TSCO 5 1/4 05/15/33</title>
        <cusip>892356AB2</cusip>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Genuine Parts Co</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>McCormick &amp; Company, Incorporated</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
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        <name>Alexandria Real Estate Equities, Inc.</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
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          <isin value="US015271AK55"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Parker-Hannifin Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Reinsurance Group of America, Incorporated</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Baxter International, Inc.</name>
        <lei>J5OIVXX3P24RJRW5CK77</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Amcor Flexibles North America Inc</name>
        <lei>PTVU09TE3QPJPL7K4E13</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BBH SWEEP VEHICLE</name>
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        <name>Genuine Parts Co</name>
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        <name>Kenvue Inc.</name>
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        <name>Targa Resources Corp.</name>
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        <name>Reinsurance Group of America, Incorporated</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
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        <name>Devon Energy Corporation</name>
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        <name>Autozone, Inc.</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
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        <name>Arrow Electronics, Inc.</name>
        <lei>549300YNNLBXT8N8R512</lei>
        <title>ARW 3 7/8 01/12/28</title>
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        <name>Loews Corporation</name>
        <lei>R8V1FN4M5ITGZOG7BS19</lei>
        <title>L 3.2 05/15/30</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <name>Digital Realty Trust, L.P.</name>
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        <name>Sun Communities Operating Limited Partnership</name>
        <lei>549300PUNBPJCGT6X741</lei>
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        <name>Brunswick Corporation</name>
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        <name>Diamondback Energy Inc</name>
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        <name>Sun Communities Operating Limited Partnership</name>
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        <name>Atmos Energy Corp.</name>
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        <name>Mondelez International, Inc.</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
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        <name>Diamondback Energy Inc</name>
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        <name>Evergy Inc</name>
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        <name>McCormick &amp; Company, Incorporated</name>
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        <name>National Health Investors, Inc.</name>
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        <name>Fortune Brands Innovations Inc</name>
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        <name>Amphenol Corporation</name>
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        <name>Nucor Corporation</name>
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        <name>Agco Corporation</name>
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        <name>Prologis, L.P.</name>
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        <name>Steel Dynamics, Inc.</name>
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        <name>CenterPoint Energy Resources Corp.</name>
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        <name>Entergy Corporation</name>
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        <name>Parker-Hannifin Corp.</name>
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        <name>Nasdaq Inc</name>
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        <name>The Campbells Co.</name>
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        <name>Diamondback Energy Inc</name>
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        <name>Conagra Brands Inc</name>
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        <name>Baxter International, Inc.</name>
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        <name>Baxter International, Inc.</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NiSource Inc.</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NI 5.4 06/30/33</title>
        <cusip>65473PAP0</cusip>
        <identifiers>
          <isin value="US65473PAP09"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1049229.28000000</valUSD>
        <pctVal>0.218715431994</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Amphenol Corporation</name>
        <lei>549300D3L3G0R4U4VT04</lei>
        <title>APH 4.35 06/01/29</title>
        <cusip>032095AH4</cusip>
        <identifiers>
          <isin value="US032095AH42"/>
        </identifiers>
        <balance>10400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10572500.43000000</valUSD>
        <pctVal>2.203873874747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>RSG 3.95 05/15/28</title>
        <cusip>760759AT7</cusip>
        <identifiers>
          <isin value="US760759AT74"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1003496.74000000</valUSD>
        <pctVal>0.209182327617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Steel Dynamics, Inc.</name>
        <lei>549300HGGKEL4FYTTQ83</lei>
        <title>STLD 3.45 04/15/30</title>
        <cusip>858119BK5</cusip>
        <identifiers>
          <isin value="US858119BK53"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>973496.06000000</valUSD>
        <pctVal>0.202928583262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.45000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invitation Homes Operating Partnership Lp</name>
        <lei>549300147YMUQB3GW319</lei>
        <title>INVH 2 08/15/31</title>
        <cusip>46188BAA0</cusip>
        <identifiers>
          <isin value="US46188BAA08"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>882162.94000000</valUSD>
        <pctVal>0.183889882020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NiSource Inc.</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NI 1.7 02/15/31</title>
        <cusip>65473PAL9</cusip>
        <identifiers>
          <isin value="US65473PAL94"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>886993.76000000</valUSD>
        <pctVal>0.184896882972</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Parker-Hannifin Corp.</name>
        <lei>5493002CONDB4N2HKI23</lei>
        <title>PH 4.2 11/21/34</title>
        <cusip>70109HAM7</cusip>
        <identifiers>
          <isin value="US70109HAM79"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>987718.49000000</valUSD>
        <pctVal>0.205893297439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Roper Technologies Inc</name>
        <lei>54930003T4SXCIWVXY35</lei>
        <title>ROP 2 06/30/30</title>
        <cusip>776743AJ5</cusip>
        <identifiers>
          <isin value="US776743AJ55"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>909009.17000000</valUSD>
        <pctVal>0.189486070483</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Atmos Energy Corp.</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
        <title>ATO 5.9 11/15/33</title>
        <cusip>049560AZ8</cusip>
        <identifiers>
          <isin value="US049560AZ81"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1094308.52000000</valUSD>
        <pctVal>0.228112353752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Returns are reported without deducting sales loads and redemption fees, if any." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-03-27</ncom:dateSigned>
      <ncom:nameOfApplicant>Northern Lights Fund Trust IV</ncom:nameOfApplicant>
      <ncom:signature>Sam Singh</ncom:signature>
      <ncom:signerName>Sam Singh</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
