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        <name>Elevance Health Inc.</name>
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        <name>Elevance Health Inc.</name>
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        <name>Elevance Health Inc.</name>
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        <name>Aptargroup Inc.</name>
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        <name>Arch Capital Finance LLC</name>
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        <name>Archer-Daniels-Midland Co.</name>
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        <name>Arrow Electronics, Inc.</name>
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        <name>Arrow Electronics, Inc.</name>
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        <name>Atmos Energy Corp.</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
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        <name>Atmos Energy Corp.</name>
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        <name>Atmos Energy Corp.</name>
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        <name>Autozone, Inc.</name>
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        <name>Avangrid Inc</name>
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        <name>Baxter International, Inc.</name>
        <lei>J5OIVXX3P24RJRW5CK77</lei>
        <title>BAX 3.95 04/01/30</title>
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        <name>Baxter International, Inc.</name>
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        <name>Baxter International, Inc.</name>
        <lei>J5OIVXX3P24RJRW5CK77</lei>
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        <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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          <maturityDt>2030-06-19</maturityDt>
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        <name>BorgWarner Inc.</name>
        <lei>549300DSFX2IE88NSX47</lei>
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          <maturityDt>2027-07-01</maturityDt>
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        <name>BorgWarner Inc.</name>
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        <name>Boston Properties Limited Partnership</name>
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          <maturityDt>2026-02-01</maturityDt>
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        <name>Boston Properties Limited Partnership</name>
        <lei>BVHHEFJI6SHNOKQT2572</lei>
        <title>BXP 4 1/2 12/01/28</title>
        <cusip>10112RBA1</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Boston Properties Limited Partnership</name>
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        <name>Boston Properties Limited Partnership</name>
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        <name>Boston Properties Limited Partnership</name>
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        <name>Broadcom Inc</name>
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        <title>AVGO 4.11 09/15/28</title>
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        <name>Broadcom Inc</name>
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        <title>AVGO 3.459 09/15/26</title>
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        <name>Brunswick Corporation</name>
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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>First Citizens Bank &amp; Trust Company</name>
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        <name>CNH Industrial Capital LLC</name>
        <lei>549300PNSJ5B81UMVO28</lei>
        <title>CNHI 1 7/8 01/15/26</title>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-15</maturityDt>
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        <name>CSX Corporation</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX 3.35 11/01/25</title>
        <cusip>126408HD8</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <fairValLevel>2</fairValLevel>
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        <name>Cabot Corporation</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Camden Property Trust</name>
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        <name>The Campbells Co.</name>
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        <title>CPB 4.15 03/15/28</title>
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        <fairValLevel>2</fairValLevel>
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        <name>The Campbells Co.</name>
        <lei>5493007JDSMX8Z5Z1902</lei>
        <title>CPB 5.4 03/21/34</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-21</maturityDt>
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          <annualizedRt>5.40000000</annualizedRt>
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        <name>Carlisle Companies Inc.</name>
        <lei>XR64VGX1ZPX6G7ZN7Z11</lei>
        <title>CSL 3 3/4 12/01/27</title>
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        <balance>1000000.00000000</balance>
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        <valUSD>974853.02000000</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>2027-12-01</maturityDt>
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        <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>4800000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
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        <name>Carlisle Companies Inc.</name>
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        <title>CSL 2.2 03/01/32</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-01</maturityDt>
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          <annualizedRt>2.20000000</annualizedRt>
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        <name>Caterpillar Inc</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>CAT 2.6 09/19/29</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Caterpillar Inc</name>
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        <title>CAT 1.9 03/12/31</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-12</maturityDt>
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        <name>Caterpillar Financial Services Corporation</name>
        <lei>EDBQKYOPJUCJKLOJDE72</lei>
        <title>CAT 0.8 11/13/25</title>
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        <name>Caterpillar Financial Services Corporation</name>
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        <title>CAT 0.9 03/02/26</title>
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        <name>Centerpoint Energy Inc</name>
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        <title>CNP 2.95 03/01/30</title>
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        <name>Centerpoint Energy Inc</name>
        <lei>21TPXMRRHFKOBHDC8J74</lei>
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        <name>Centerpoint Energy Inc</name>
        <lei>21TPXMRRHFKOBHDC8J74</lei>
        <title>CNP 2.65 06/01/31</title>
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        <name>CenterPoint Energy Resources Corp.</name>
        <lei>2JADVB0458J06WCD4N56</lei>
        <title>CNP 1 3/4 10/01/30</title>
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        <name>Cheniere Energy Partners Lp</name>
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        <name>Cintas Corporation No. 2</name>
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        <name>Coca-Cola Consolidated Inc</name>
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        <name>Conagra Brands Inc</name>
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        <name>Conagra Brands Inc</name>
        <lei>54930035UDEIH090K650</lei>
        <title>CAG 4.85 11/01/28</title>
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        <name>Conagra Brands Inc</name>
        <lei>54930035UDEIH090K650</lei>
        <title>CAG 1 3/8 11/01/27</title>
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        <name>Continental Resources, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Crown Castle Inc.</name>
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        <title>CCI 5.8 03/01/34</title>
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        <name>D.R. Horton, Inc.</name>
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        <title>DHI 2.6 10/15/25</title>
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        <name>D.R. Horton, Inc.</name>
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        <title>DHI 1.3 10/15/26</title>
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        <name>DTE Energy Co.</name>
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        <name>Dentsply Sirona Inc</name>
        <lei>9NHEHR1SOZCYXDO8HO28</lei>
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        <name>Devon Energy Corporation</name>
        <lei>54930042348RKR3ZPN35</lei>
        <title>DVN 5.85 12/15/25</title>
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        <name>Devon Energy Corporation</name>
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        <name>Devon Energy Corporation</name>
        <lei>54930042348RKR3ZPN35</lei>
        <title>DVN 5.2 09/15/34</title>
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        <name>Devon Financing Corp ULC</name>
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        <name>Diamondback Energy Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Diamondback Energy Inc</name>
        <lei>549300R22LSX6OHWEN64</lei>
        <title>FANG 3 1/8 03/24/31</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-24</maturityDt>
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        <name>Digital Realty Trust, L.P.</name>
        <lei>CD4SPTZ3YBTHY0C1AH38</lei>
        <title>DLR 3.7 08/15/27</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-15</maturityDt>
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        <name>Digital Realty Trust, L.P.</name>
        <lei>CD4SPTZ3YBTHY0C1AH38</lei>
        <title>DLR 4.45 07/15/28</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-07-15</maturityDt>
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        <name>Digital Realty Trust, L.P.</name>
        <lei>CD4SPTZ3YBTHY0C1AH38</lei>
        <title>DLR 3.6 07/01/29</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Dollar General Corporation</name>
        <lei>OPX52SQVOZI8IVSWYU66</lei>
        <title>DG 4.15 11/01/25</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
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        <name>Dollar General Corporation</name>
        <lei>OPX52SQVOZI8IVSWYU66</lei>
        <title>DG 3 7/8 04/15/27</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>Dollar Tree Inc</name>
        <lei>549300PMSTQITB1WHR43</lei>
        <title>DLTR 4.2 05/15/28</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
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          <annualizedRt>4.20000000</annualizedRt>
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        <name>Dover Corporation</name>
        <lei>549300FMC2ALGA7N9E80</lei>
        <title>DOV 3.15 11/15/25</title>
        <cusip>260003AM0</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>EOG Resources Inc.</name>
        <lei>XWTZDRYZPBUHIQBKDB46</lei>
        <title>EOG 3.15 04/01/25</title>
        <cusip>26875PAM3</cusip>
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        <invCountry>US</invCountry>

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        <name>EOG Resources Inc.</name>
        <lei>XWTZDRYZPBUHIQBKDB46</lei>
        <title>EOG 4.15 01/15/26</title>
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          <maturityDt>2026-01-15</maturityDt>
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        <name>Kinder Morgan, Inc.</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>KMI 7.8 08/01/31</title>
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        <name>Emerson Electric Co.</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
        <title>EMR 1.8 10/15/27</title>
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        <name>Emerson Electric Co.</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
        <title>EMR 1.95 10/15/30</title>
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        <name>Emerson Electric Co.</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
        <title>EMR 2 12/21/28</title>
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        <name>Emerson Electric Co.</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
        <title>EMR 2.2 12/21/31</title>
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        <invCountry>US</invCountry>

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      <invstOrSec>
        <name>Emera US Finance LP</name>
        <lei>N/A</lei>
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        <balance>1000000.00000000</balance>
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        <valUSD>980279.95000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</annualizedRt>
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      <invstOrSec>
        <name>Entergy Arkansas LLC</name>
        <lei>549300A0I5ONUIFMLP35</lei>
        <title>ETR 3 1/2 04/01/26</title>
        <cusip>29364DAU4</cusip>
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          <isin value="US29364DAU46"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>987018.05000000</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>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Entergy Corporation</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>ETR 2.8 06/15/30</title>
        <cusip>29364GAL7</cusip>
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          <isin value="US29364GAL77"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>904760.48000000</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>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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      <invstOrSec>
        <name>Entergy Corporation</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>ETR 0.9 09/15/25</title>
        <cusip>29364GAM5</cusip>
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          <isin value="US29364GAM50"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>969381.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.90000000</annualizedRt>
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      <invstOrSec>
        <name>Entergy Corporation</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>ETR 1.9 06/15/28</title>
        <cusip>29364GAN3</cusip>
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          <isin value="US29364GAN34"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>911608.51000000</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>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
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      <invstOrSec>
        <name>Entergy Corporation</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>ETR 2.4 06/15/31</title>
        <cusip>29364GAP8</cusip>
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          <isin value="US29364GAP81"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>859652.34000000</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>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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      <invstOrSec>
        <name>Equifax Inc.</name>
        <lei>5493004MCF8JDC86VS77</lei>
        <title>EFX 2.6 12/15/25</title>
        <cusip>294429AR6</cusip>
        <identifiers>
          <isin value="US294429AR68"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>977382.88000000</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>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Equifax Inc.</name>
        <lei>5493004MCF8JDC86VS77</lei>
        <title>EFX 5.1 12/15/27</title>
        <cusip>294429AV7</cusip>
        <identifiers>
          <isin value="US294429AV70"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1012079.01000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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      <invstOrSec>
        <name>Essential Utilities Inc</name>
        <lei>549300ILTEOF3E3QY357</lei>
        <title>WTRG 2.704 04/15/30</title>
        <cusip>29670GAD4</cusip>
        <identifiers>
          <isin value="US29670GAD43"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>899513.01000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70400000</annualizedRt>
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      <invstOrSec>
        <name>Essential Utilities Inc</name>
        <lei>549300ILTEOF3E3QY357</lei>
        <title>WTRG 5 3/8 01/15/34</title>
        <cusip>29670GAH5</cusip>
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          <isin value="US29670GAH56"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1015589.92000000</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>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Evergy Inc</name>
        <lei>549300PGTHDQY6PSUI61</lei>
        <title>EVRG 2.9 09/15/29</title>
        <cusip>30034WAB2</cusip>
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          <isin value="US30034WAB28"/>
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        <balance>4800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4416266.69000000</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>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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      <invstOrSec>
        <name>Eversource Energy</name>
        <lei>SJ7XXD41SQU3ZNWUJ746</lei>
        <title>ES 5.95 07/15/34</title>
        <cusip>30040WAZ1</cusip>
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          <isin value="US30040WAZ14"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>1049988.16000000</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>2034-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95000000</annualizedRt>
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      <invstOrSec>
        <name>Exelon Corporation</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>EXC 4.05 04/15/30</title>
        <cusip>30161NAX9</cusip>
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          <isin value="US30161NAX93"/>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
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      <invstOrSec>
        <name>Exelon Corporation</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>EXC 5.15 03/15/29</title>
        <cusip>30161NBM2</cusip>
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        <balance>1000000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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        <name>Exelon Corporation</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>EXC 5.45 03/15/34</title>
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        <name>Extra Space Storage LP</name>
        <lei>549300YNKSKNZFR8UC42</lei>
        <title>EXR 2.55 06/01/31</title>
        <cusip>30225VAF4</cusip>
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        <balance>4800000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.55000000</annualizedRt>
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        <name>Extra Space Storage LP</name>
        <lei>549300YNKSKNZFR8UC42</lei>
        <title>EXR 2.35 03/15/32</title>
        <cusip>30225VAG2</cusip>
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        <balance>1000000.00000000</balance>
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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>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.35000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Extra Space Storage LP</name>
        <lei>549300YNKSKNZFR8UC42</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Teledyne FLIR LLC</name>
        <lei>VOBD35NEPH6WISIRTJ85</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fortinet Inc</name>
        <lei>549300O0QJWDBAS0QX03</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Fortinet Inc</name>
        <lei>549300O0QJWDBAS0QX03</lei>
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          <isin value="US34959EAB56"/>
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        <balance>4800000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
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      <invstOrSec>
        <name>Fortune Brands Innovations Inc</name>
        <lei>54930032LHW54PQUJD44</lei>
        <title>FBINUS 3 1/4 09/15/29</title>
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          <isin value="US34964CAE66"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>935341.15000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-15</maturityDt>
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        <name>Fortune Brands Innovations Inc</name>
        <lei>54930032LHW54PQUJD44</lei>
        <title>FBINUS 5 7/8 06/01/33</title>
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          <isin value="US34964CAH97"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-01</maturityDt>
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        <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>840001.90000000</valUSD>
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        <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>
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      <invstOrSec>
        <name>Genuine Parts Co</name>
        <lei>549300D46DQVEU651W04</lei>
        <title>GPC 2 3/4 02/01/32</title>
        <cusip>372460AC9</cusip>
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          <isin value="US372460AC93"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>859007.86000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>Genuine Parts Co</name>
        <lei>549300D46DQVEU651W04</lei>
        <title>GPC 6 1/2 11/01/28</title>
        <cusip>372460AE5</cusip>
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          <isin value="US372460AE59"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1059138.33000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Globe Life Inc</name>
        <lei>5493001JFHKQOPP6XA71</lei>
        <title>GL 5.85 09/15/34</title>
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          <isin value="US37959EAC66"/>
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        <curCd>USD</curCd>
        <valUSD>1029663.01000000</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>2034-09-15</maturityDt>
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        <name>J. B. Hunt Transport Services, Inc.</name>
        <lei>549300XCD1MPI1C5GK90</lei>
        <title>JBHT 3 7/8 03/01/26</title>
        <cusip>445658CF2</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-01</maturityDt>
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        <name>Ingersoll Rand Inc</name>
        <lei>5299004C02FMZCUOIR50</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-08-14</maturityDt>
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        <name>Invitation Homes Operating Partnership Lp</name>
        <lei>549300147YMUQB3GW319</lei>
        <title>INVH 2 08/15/31</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-15</maturityDt>
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        <name>Jabil Inc</name>
        <lei>5493000CGCQY2OQU7669</lei>
        <title>JBL 3.95 01/12/28</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-12</maturityDt>
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        <name>Jabil Inc</name>
        <lei>5493000CGCQY2OQU7669</lei>
        <title>JBL 3.6 01/15/30</title>
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        <name>Jabil Inc</name>
        <lei>5493000CGCQY2OQU7669</lei>
        <title>JBL 3 01/15/31</title>
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        <name>Juniper Networks, Inc.</name>
        <lei>AUHIXNGG7U2U7JEHM527</lei>
        <title>JNPR 2 12/10/30</title>
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        <name>KLA Corp.</name>
        <lei>549300H0BF5JCG96TJ81</lei>
        <title>KLAC 4.1 03/15/29</title>
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        <name>Keysight Technologies, Inc.</name>
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        <name>McCormick &amp; Company, Incorporated</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>NNN REIT Inc</name>
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        <name>NetApp Inc.</name>
        <lei>QTX3D84DZDD5JYOCYH15</lei>
        <title>NTAP 2 3/8 06/22/27</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NetApp Inc.</name>
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        <name>Ovintiv Exploration Inc.</name>
        <lei>T8W3X1PFLPW2YE0UIP44</lei>
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        <name>Newmont Corporation</name>
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        <name>Newmont Corporation</name>
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        <name>NiSource Inc.</name>
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        <name>Nordson Corp</name>
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        <name>Nucor Corporation</name>
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        <name>Nucor Corporation</name>
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        <name>Omega Healthcare Investors, Inc.</name>
        <lei>549300OJ7ENK42CZ8E73</lei>
        <title>OHI 4 3/4 01/15/28</title>
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        <name>Omega Healthcare Investors, Inc.</name>
        <lei>549300OJ7ENK42CZ8E73</lei>
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        <name>Omega Healthcare Investors, Inc.</name>
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        <name>Parker-Hannifin Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>QUALCOMM Inc.</name>
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        <name>QUALCOMM Inc.</name>
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        <name>QUALCOMM Inc.</name>
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        <name>Quanta Services, Inc.</name>
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        <name>Regions Financial Corporation</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
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        <name>Reinsurance Group of America, Incorporated</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>RGA 3.9 05/15/29</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Reinsurance Group of America, Incorporated</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Reinsurance Group of America, Incorporated</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>RSG 3 3/8 11/15/27</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>RSG 1.45 02/15/31</title>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>RSG 1 3/4 02/15/32</title>
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        <name>Kite Realty Group, L.P.</name>
        <lei>549300X6R2GYI8Y3OD81</lei>
        <title>KRG 4 3/4 09/15/30</title>
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        <name>Roper Technologies Inc</name>
        <lei>54930003T4SXCIWVXY35</lei>
        <title>ROP 4.2 09/15/28</title>
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        <name>Roper Technologies Inc</name>
        <lei>54930003T4SXCIWVXY35</lei>
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        <name>Royalty Pharma PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Ryder System, Inc.</name>
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        <name>Schlumberger Holdings Corporation</name>
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        <name>Schlumberger Holdings Corporation</name>
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        <name>Schlumberger Holdings Corporation</name>
        <lei>529900IKZG65COT1D505</lei>
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        <name>Simon Property Group LP</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Skyworks Solutions, Inc.</name>
        <lei>549300WZ3ORQ2BVKBD96</lei>
        <title>SWKS 3 06/01/31</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
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        <name>Steel Dynamics, Inc.</name>
        <lei>549300HGGKEL4FYTTQ83</lei>
        <title>STLD 3.45 04/15/30</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
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        <name>Steel Dynamics, Inc.</name>
        <lei>549300HGGKEL4FYTTQ83</lei>
        <title>STLD 3 1/4 01/15/31</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
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        <name>Sun Communities Operating Limited Partnership</name>
        <lei>549300PUNBPJCGT6X741</lei>
        <title>SUI 2.7 07/15/31</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-15</maturityDt>
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        <name>Sun Communities Operating Limited Partnership</name>
        <lei>549300PUNBPJCGT6X741</lei>
        <title>SUI 2.3 11/01/28</title>
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        <name>Sysco Corporation</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>SYY 5 3/4 01/17/29</title>
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        <name>Sysco Corporation</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
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        <name>Targa Resources Partners LP/Targa Resources Finance Corp.</name>
        <lei>6OQWTZ1SPC04IFT4T704</lei>
        <title>TRGP 5 01/15/28</title>
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        <name>Targa Resources Corp.</name>
        <lei>5493003QENHHS261UR94</lei>
        <title>TRGP 6 1/8 03/15/33</title>
        <cusip>87612GAC5</cusip>
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        <name>Targa Resources Corp.</name>
        <lei>5493003QENHHS261UR94</lei>
        <title>TRGP 6.15 03/01/29</title>
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        <name>Tennessee Gas Pipeline Company</name>
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        <title>KMI 7 10/15/28</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Tractor Supply Co</name>
        <lei>549300OJ9VZHZRO6I137</lei>
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        <valUSD>1014354.79000000</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>2033-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Transcontinental Gas Pipe Line Company, LLC</name>
        <lei>N/A</lei>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1027143.86000000</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>2026-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.85000000</annualizedRt>
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      <invstOrSec>
        <name>Trimble Inc</name>
        <lei>549300E2MI7NSZFQWS19</lei>
        <title>TRMB 4.9 06/15/28</title>
        <cusip>896239AC4</cusip>
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          <isin value="US896239AC42"/>
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        <balance>4800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4812919.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Trimble Inc</name>
        <lei>549300E2MI7NSZFQWS19</lei>
        <title>TRMB 6.1 03/15/33</title>
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          <isin value="US896239AE08"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1054748.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UDR Inc</name>
        <lei>P3CH2EG5X6Z1XWU1OO74</lei>
        <title>UDR 3.2 01/15/30</title>
        <cusip>90265EAQ3</cusip>
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          <isin value="US90265EAQ35"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>926131.33000000</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>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UDR Inc</name>
        <lei>P3CH2EG5X6Z1XWU1OO74</lei>
        <title>UDR 2.1 08/01/32</title>
        <cusip>90265EAT7</cusip>
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          <isin value="US90265EAT73"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>816526.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.10000000</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 3.4 09/15/26</title>
        <cusip>91913YAU4</cusip>
        <identifiers>
          <isin value="US91913YAU47"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>977617.01000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</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>Valero Energy Corp.</name>
        <lei>549300XTO5VR8SKV1V74</lei>
        <title>VLO 4.35 06/01/28</title>
        <cusip>91913YAV2</cusip>
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          <isin value="US91913YAV20"/>
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        <balance>4800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4746097.68000000</valUSD>
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        <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>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ventas Realty Limited Partnership</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
        <title>VTR 4 1/8 01/15/26</title>
        <cusip>92277GAG2</cusip>
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          <isin value="US92277GAG29"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>992730.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <name>Ventas Realty Limited Partnership</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
        <title>VTR 3 1/4 10/15/26</title>
        <cusip>92277GAJ6</cusip>
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          <isin value="US92277GAJ67"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>972330.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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        <name>Ventas Realty Limited Partnership</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
        <title>VTR 4 03/01/28</title>
        <cusip>92277GAM9</cusip>
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        <balance>1000000.00000000</balance>
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        <valUSD>979148.16000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Ventas Realty Limited Partnership</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
        <title>VTR 4.4 01/15/29</title>
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          <isin value="US92277GAN79"/>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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        <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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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-15</maturityDt>
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          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Verisk Analytics, Inc.</name>
        <lei>549300I1YSWNIRKBWP67</lei>
        <title>VRSK 4 06/15/25</title>
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          <isin value="US92345YAD85"/>
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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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        <name>Verisk Analytics, Inc.</name>
        <lei>549300I1YSWNIRKBWP67</lei>
        <title>VRSK 5 3/4 04/01/33</title>
        <cusip>92345YAH9</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-04-01</maturityDt>
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        <name>Vulcan Materials Company</name>
        <lei>549300Q8LSNHAVWBNI21</lei>
        <title>VMC 3.9 04/01/27</title>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-01</maturityDt>
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          <annualizedRt>3.90000000</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>W. P. Carey Inc</name>
        <lei>54930042CRNE713E3Q67</lei>
        <title>WPC 2.4 02/01/31</title>
        <cusip>92936UAG4</cusip>
        <identifiers>
          <isin value="US92936UAG40"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>863079.89000000</valUSD>
        <pctVal>0.259533977729</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</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>W. P. Carey Inc</name>
        <lei>54930042CRNE713E3Q67</lei>
        <title>WPC 2 1/4 04/01/33</title>
        <cusip>92936UAH2</cusip>
        <identifiers>
          <isin value="US92936UAH23"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>808583.47000000</valUSD>
        <pctVal>0.243146534552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</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>WEC Energy Group Inc.</name>
        <lei>549300IGLYTZUK3PVP70</lei>
        <title>WEC 1 3/8 10/15/27</title>
        <cusip>92939UAD8</cusip>
        <identifiers>
          <isin value="US92939UAD81"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>916072.06000000</valUSD>
        <pctVal>0.275469082727</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Waste Connections Inc (CA) Inc</name>
        <lei>N/A</lei>
        <title>WCNCN 4 1/4 12/01/28</title>
        <cusip>941053AH3</cusip>
        <identifiers>
          <isin value="US941053AH36"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>987556.87000000</valUSD>
        <pctVal>0.296965050020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</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>Waste Management, Inc.</name>
        <lei>549300YX8JIID70NFS41</lei>
        <title>WM 3.15 11/15/27</title>
        <cusip>94106LBE8</cusip>
        <identifiers>
          <isin value="US94106LBE83"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>964764.15000000</valUSD>
        <pctVal>0.290111124499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</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>Waste Management, Inc.</name>
        <lei>549300YX8JIID70NFS41</lei>
        <title>WM 0 3/4 11/15/25</title>
        <cusip>94106LBL2</cusip>
        <identifiers>
          <isin value="US94106LBL27"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>964524.93000000</valUSD>
        <pctVal>0.290039189422</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Waste Management, Inc.</name>
        <lei>549300YX8JIID70NFS41</lei>
        <title>WM 4 5/8 02/15/33</title>
        <cusip>94106LBU2</cusip>
        <identifiers>
          <isin value="US94106LBU26"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>994749.52000000</valUSD>
        <pctVal>0.299127928667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</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>Western Digital Corp.</name>
        <lei>549300QQXOOYEF89IC56</lei>
        <title>WDC 2.85 02/01/29</title>
        <cusip>958102AQ8</cusip>
        <identifiers>
          <isin value="US958102AQ89"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>896023.10000000</valUSD>
        <pctVal>0.269440224450</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.85000000</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>Western Digital Corp.</name>
        <lei>549300QQXOOYEF89IC56</lei>
        <title>WDC 3.1 02/01/32</title>
        <cusip>958102AR6</cusip>
        <identifiers>
          <isin value="US958102AR62"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>846411.87000000</valUSD>
        <pctVal>0.254521791046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</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>Zions Bancorporation Natl Assn Global Bank</name>
        <lei>8WH0EE09O9V05QJZ3V89</lei>
        <title>ZION 3 1/4 10/29/29</title>
        <cusip>98971DAB6</cusip>
        <identifiers>
          <isin value="US98971DAB64"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>891069.83000000</valUSD>
        <pctVal>0.267950742560</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</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>BBH SWEEP VEHICLE</name>
        <lei>N/A</lei>
        <title>BBH SWEEP VEHICLE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="BBHETFMM"/>
        </identifiers>
        <balance>1231424.78000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1231424.78000000</valUSD>
        <pctVal>0.370297784864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Money Market Sweep Account" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <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>2024-12-27</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>
</edgarSubmission>
