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      <regStreet1>200 West Madison St</regStreet1>
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      <regCity>Chicago</regCity>
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      <regZipOrPostalCode>60606</regZipOrPostalCode>
      <regPhone>312-857-2160</regPhone>
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        <name>Government National Mortgage Association</name>
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        <name>United States Treasury Notes</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Prestige Brands, Inc.</name>
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        <name>United States Treasury Bonds</name>
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        <name>Weatherford International Ltd Bermuda</name>
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        <name>Macys Retail Holdings LLC</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <title>Fannie Mae REMICS </title>
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        <name>Federal Farm Credit Banks</name>
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      <invstOrSec>
        <name>Burlington Northern Santa Fe LLC</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UBS Group AG</name>
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        <title>UBS Group AG </title>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <title>Ginnie Mae II Pool </title>
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          <isin value="US36179XS723"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Chicago Board of Trade</name>
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          <ticker value="WNM6 COMDTY"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>STONEX GROUP INC</counterpartyName>
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      <invstOrSec>
        <name>AbbVie Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
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          <isin value="US00287YEF25"/>
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      <invstOrSec>
        <name>General Motors Financial Company  Inc</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co Inc </title>
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          <isin value="US37045XCA28"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>U.S. Bancorp.</name>
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        <title>US Bancorp </title>
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        <balance>60000.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alliance Resource Operating Partners LP/Alliance Resource Finance Corp</name>
        <lei>2549007036KGPSVTHP54</lei>
        <title>Alliance Resource Operating Partners LP </title>
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          <isin value="US01879NAC92"/>
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        <balance>50000.00000000</balance>
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        <valUSD>52826.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Emera Inc</name>
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        <title>Emera, Inc. </title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
        <lei>549300FVY7JUBJ0PIH53</lei>
        <title>COMM 2013-CCRE7 Mortgage Trust </title>
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        <balance>100000.00000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Coca-Cola Co (The)</name>
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        <title>Coca-Cola Co/The </title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Tower Corporation</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp. </title>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Canadian Imperial Bank of Commerce</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>Canadian Imperial Bank of Commerce </title>
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        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc </title>
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      <invstOrSec>
        <name>J.P. Morgan Chase Commercial Mortgage Securities Trust</name>
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        <title>JP Morgan Chase Commercial Mortgage Sec </title>
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      <invstOrSec>
        <name>ConocoPhillips Co.</name>
        <lei>6VJJ5GQWIRDQ06DUXG89</lei>
        <title>ConocoPhillips Co </title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PNC Financial Services Group Inc.</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group Inc/The </title>
        <cusip>693475BU8</cusip>
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        <name>Helix Energy Solutions Group, Inc.</name>
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      <invstOrSec>
        <name>United States Treasury Notes</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Firstcash Inc</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>RLJ Lodging Trust LP</name>
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        <title>RLJ Lodging Trust LP </title>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
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        <title>Fannie Mae Pool </title>
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          <isin value="US3140FXEP30"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Walt Disney Company</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Alphabet Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-15</maturityDt>
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        <name>Chicago Board of Trade</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Enpro Inc</name>
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        <name>UBS Bank USA</name>
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        <name>Federal Home Loan Banks</name>
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        <name>Government National Mortgage Association</name>
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        <name>California Resources Corporation</name>
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        <name>Synchrony Financial</name>
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        <title>Synchrony Financial </title>
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        <name>The Procter &amp; Gamble Co.</name>
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        <title>Procter &amp; Gamble Co/The </title>
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        <name>Federal National Mortgage Association</name>
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        <title>Fannie Mae Pool </title>
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        <name>The Gap Inc.</name>
        <lei>T2ZG1WRWZ4BUCMQL9224</lei>
        <title>Gap Inc/The </title>
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        <name>Structured Asset Securities Corp.</name>
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        <name>The Charles Schwab Corporation</name>
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        <name>Duke Energy Carolinas  LLC</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>United States Treasury Notes</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Crescent Energy Finance LLC</name>
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        <name>J.P. Morgan Chase Commercial Mortgage Securities Trust</name>
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        <name>Cable One Inc</name>
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        <name>California Resources Corporation</name>
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        <name>CHICAGO BOARD OF TRADE</name>
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        <name>Federal Express Corporation</name>
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        <name>Totalenergies Capital USA LLC</name>
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        <name>Morgan Stanley Bank of America Merrill Lynch Trust 2012-C5</name>
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        <name>Truist Financial Corp.</name>
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        <name>United States Treasury Notes</name>
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        <name>Zebra Technologies Corporation</name>
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        <name>Howard Hughes Holdings Inc.</name>
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        <name>NextEra Energy Capital Holdings Inc</name>
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        <name>Oneok Inc.</name>
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        <name>Telecom Italia Capital S.A.</name>
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        <name>CHICAGO MERCANTILE EXCHANGE</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>United States Treasury Notes</name>
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        <name>Meta Platforms Inc</name>
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        <name>BMW VEHICLE LEASE TRUST 2024-2</name>
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        <name>United States Treasury Notes</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Chicago Board of Trade</name>
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        <name>ING Groep N.V.</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Boeing Co.</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co/The </title>
        <cusip>097023CY9</cusip>
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          <isin value="US097023CY98"/>
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        <balance>37000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38329.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
        <cusip>91282CPT2</cusip>
        <identifiers>
          <isin value="US91282CPT26"/>
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        <balance>470000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>471487.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Amerigas Partners, L.P./Amerigas Finance Corp.</name>
        <lei>H36E1IF6YS0OBMHM6168</lei>
        <title>AmeriGas Partners LP / AmeriGas Finance Corp. </title>
        <cusip>030981AP9</cusip>
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          <isin value="US030981AP92"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37484.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chevron USA Inc</name>
        <lei>VA8TZDWPEZYU430RZ444</lei>
        <title>Chevron USA, Inc. </title>
        <cusip>166756BE5</cusip>
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          <isin value="US166756BE57"/>
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        <balance>71000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>73916.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.81900000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bond 2.75%, 11/15/2042</title>
        <cusip>912810QY7</cusip>
        <identifiers>
          <isin value="US912810QY73"/>
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        <balance>203000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>161162.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
        <cusip>912810UQ9</cusip>
        <identifiers>
          <isin value="US912810UQ93"/>
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        <balance>158000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>159073.91000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>UnitedHealth Group Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc. </title>
        <cusip>91324PES7</cusip>
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          <isin value="US91324PES74"/>
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        <balance>22000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22389.06000000</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>2053-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bond </title>
        <cusip>912810TW8</cusip>
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          <isin value="US912810TW80"/>
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        <balance>234000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>240928.59000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
        <cusip>91282CPK1</cusip>
        <identifiers>
          <isin value="US91282CPK17"/>
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        <balance>312000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>312914.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Broadcom Inc</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom Inc </title>
        <cusip>11135FCB5</cusip>
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        <balance>35000.00000000</balance>
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        <valUSD>35444.51000000</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>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
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        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP </title>
        <cusip>29273VAJ9</cusip>
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          <isin value="US29273VAJ98"/>
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        <balance>125000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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          <annualizedRt>6.62499820</annualizedRt>
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        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note </title>
        <cusip>91282CGH8</cusip>
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          <isin value="US91282CGH88"/>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>FMC Corp.</name>
        <lei>CKDHZ2X64EEBQCSP7013</lei>
        <title>FMC Corp </title>
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        <balance>150000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>NISSAN AUTO LEASE TRUST 2025-A</name>
        <lei>N/A</lei>
        <title>Nissan Auto Lease Trust 2025-A </title>
        <cusip>65479XAD4</cusip>
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          <isin value="US65479XAD49"/>
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        <balance>188000.00000000</balance>
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        <invCountry>US</invCountry>

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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co </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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        <name>Lockheed Martin Corporation</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp </title>
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        <balance>38000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.70000000</annualizedRt>
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        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association </title>
        <cusip>38383LDU1</cusip>
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        <balance>196705.42000000</balance>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Virginia Electric and Power Company</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>Virginia Electric and Power Co. </title>
        <cusip>927804GL2</cusip>
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        <balance>65000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association </title>
        <cusip>38384NLT0</cusip>
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          <isin value="US38384NLT09"/>
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        <curCd>USD</curCd>
        <valUSD>42673.36000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Johnson Controls International PLC / Tyco Fire &amp; Security Finance S.C.A.</name>
        <lei>549300XQ6S1GYKGBL205</lei>
        <title>Johnson Controls International plc </title>
        <cusip>477921AA8</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association </title>
        <cusip>38384HVG0</cusip>
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          <isin value="US38384HVG00"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation</name>
        <lei>549300T0G4GS0SINS786</lei>
        <title>Icahn Enterprises LP/ Icahn Enterprises Finance Corp.</title>
        <cusip>451102CC9</cusip>
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        <curCd>USD</curCd>
        <valUSD>25593.11000000</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>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass Through </title>
        <cusip>3137F84U4</cusip>
        <identifiers>
          <isin value="US3137F84U40"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>67401.82000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.62519200</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp. 4.55 02/04/29</title>
        <cusip>68389XDW2</cusip>
        <identifiers>
          <isin value="US68389XDW20"/>
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        <balance>14000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14029.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Federal Farm Credit Banks</name>
        <lei>254900C5LP6DN9OP9V83</lei>
        <title>Federal Farm Credit Banks Funding Corp. </title>
        <cusip>3133ETTR8</cusip>
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        <balance>101000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101146.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.59000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust 2012-C5</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Bank of America Merrill Lynch Tr </title>
        <cusip>61761AAJ7</cusip>
        <identifiers>
          <isin value="US61761AAJ79"/>
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        <balance>165085.76000000</balance>
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        <curCd>USD</curCd>
        <valUSD>162037.86000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.68049680</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley Private Bank National Association</name>
        <lei>549300GS0W0TEUQS8571</lei>
        <title>Morgan Stanley Private Bank NA </title>
        <cusip>61776NV91</cusip>
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          <isin value="US61776NV919"/>
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        <balance>154000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>154033.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American Tower Corporation</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp </title>
        <cusip>03027XAW0</cusip>
        <identifiers>
          <isin value="US03027XAW02"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>49611.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc. </title>
        <cusip>92343VFT6</cusip>
        <identifiers>
          <isin value="US92343VFT61"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>80211.21000000</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>2040-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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      <invstOrSec>
        <name>The Toronto-Dominion Bank</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank/The </title>
        <cusip>89115A3E0</cusip>
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          <isin value="US89115A3E02"/>
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        <balance>20000.00000000</balance>
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        <valUSD>20384.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.86100000</annualizedRt>
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      <invstOrSec>
        <name>New Gold, Inc.</name>
        <lei>5493005G0GNCHP0H6L96</lei>
        <title>New Gold Inc </title>
        <cusip>644535AJ5</cusip>
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          <isin value="US644535AJ57"/>
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        <balance>55000.00000000</balance>
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        <invCountry>US</invCountry>

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          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note </title>
        <cusip>91282CDY4</cusip>
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          <isin value="US91282CDY49"/>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2032-02-15</maturityDt>
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          <annualizedRt>1.87500000</annualizedRt>
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      <invstOrSec>
        <name>Pediatrix Medical Group Inc</name>
        <lei>N/A</lei>
        <title>Pediatrix Medical Group Inc </title>
        <cusip>58502BAE6</cusip>
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          <isin value="US58502BAE65"/>
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        <balance>50000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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          <maturityDt>2030-02-15</maturityDt>
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          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust 2011-C2</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust 2014-150E </title>
        <cusip>61764BAA1</cusip>
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          <isin value="US61764BAA17"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>94451.00000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-09</maturityDt>
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          <annualizedRt>3.91200000</annualizedRt>
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      <invstOrSec>
        <name>CVS Health Corp</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp </title>
        <cusip>126650EG1</cusip>
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          <isin value="US126650EG12"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>182131.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000144</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>The Bank of New York Mellon Corp.</name>
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        <name>FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD</name>
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        <name>Apple Inc.</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>United States Treasury Notes</name>
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        <issuerCat>UST</issuerCat>
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        <name>Chicago Board of Trade</name>
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        <name>Government National Mortgage Association</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Phillips 66 Co.</name>
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        <name>Noble Finance II LLC.</name>
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        <name>BP Capital Markets America, Inc.</name>
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      <invstOrSec>
        <name>HLF Financing SaRL LLC and Herbalife International Inc.</name>
        <lei>549300VKVJUV5OGV2R51</lei>
        <title>SunCoke Energy Inc </title>
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          <isin value="US40390DAD75"/>
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        <curCd>USD</curCd>
        <valUSD>45710.79000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Webster Financial Corp.</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
        <title>Webster Financial Corporation Series F</title>
        <cusip>947890505</cusip>
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          <isin value="US9478905055"/>
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        <balance>3658.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WELLS FARGO COMMERCIAL MORTGAGE TRUST 2026-5C8</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust 2026-5C8 </title>
        <cusip>95005BAC4</cusip>
        <identifiers>
          <isin value="US95005BAC46"/>
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        <balance>47000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>48643.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.03400000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Csmc 2019-Uvil</name>
        <lei>N/A</lei>
        <title>CSMC Series 2019-UVIL </title>
        <cusip>12656DAC7</cusip>
        <identifiers>
          <isin value="US12656DAC74"/>
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        <balance>9242000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50042.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.12382920</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bond </title>
        <cusip>912810SZ2</cusip>
        <identifiers>
          <isin value="US912810SZ21"/>
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        <balance>270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>161567.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</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>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley </title>
        <cusip>61748UAT9</cusip>
        <identifiers>
          <isin value="US61748UAT97"/>
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        <balance>94000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>94837.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.07299922</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley Bank Of America Merrill Lynch Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Bank of America Merrill Lynch  Trust 2013-C11</title>
        <cusip>61762TAG1</cusip>
        <identifiers>
          <isin value="US61762TAG13"/>
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        <balance>60443.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>58590.42000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.89215080</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Central Garden &amp; Pet Company</name>
        <lei>5493004DVZLD37DJ0H83</lei>
        <title>Central Garden &amp; Pet Co </title>
        <cusip>153527AN6</cusip>
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          <isin value="US153527AN61"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38630.86000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
        <cusip>91282CPY1</cusip>
        <identifiers>
          <isin value="US91282CPY11"/>
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        <balance>266000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>270613.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc. </title>
        <cusip>629377CU4</cusip>
        <identifiers>
          <isin value="US629377CU45"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>82614.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.25000103</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hyundai Auto Receivables Trust 2024-C</name>
        <lei>N/A</lei>
        <title>Hyundai Auto Receivables Trust </title>
        <cusip>448976AD2</cusip>
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          <isin value="US448976AD22"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25187.51000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.41000000</annualizedRt>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool </title>
        <cusip>3140XPKG3</cusip>
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          <isin value="US3140XPKG31"/>
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        <balance>38843.76000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38301.56000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>OneMain Financial Corporation</name>
        <lei>5493008I795YYBFWFU90</lei>
        <title>OneMain Finance Corp </title>
        <cusip>682691AJ9</cusip>
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          <isin value="US682691AJ99"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40360.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>Suburban Propane Partners LP / Suburban Energy Finance Corporation</name>
        <lei>JJAX4X60DE65EYFOTY73</lei>
        <title>Suburban Propane Partners LP/ Suburban Energy Finance Corp</title>
        <cusip>864486AM7</cusip>
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          <isin value="US864486AM71"/>
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        <balance>30000.00000000</balance>
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        <valUSD>29712.71000000</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>2035-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp </title>
        <cusip>14040HDG7</cusip>
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          <isin value="US14040HDG74"/>
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        <balance>26000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26982.11000000</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>2030-07-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.46299992</annualizedRt>
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      <invstOrSec>
        <name>Honda Auto Receivables 2024-3 Owner Trust</name>
        <lei>N/A</lei>
        <title>Honda Auto Receivables 2024-3 Owner Trust </title>
        <cusip>43813YAC6</cusip>
        <identifiers>
          <isin value="US43813YAC66"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60393.67000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.57000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust 2012-Lc5</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust 2016-C32 </title>
        <cusip>94989YAJ2</cusip>
        <identifiers>
          <isin value="US94989YAJ29"/>
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        <balance>83495.10000000</balance>
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        <curCd>USD</curCd>
        <valUSD>82067.54000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.78799920</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>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley </title>
        <cusip>61748UAE2</cusip>
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          <isin value="US61748UAE29"/>
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        <balance>38000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39359.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Zoominfo Technologies Llc /Zoominfo Financial Corporation</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VM Consolidated Inc.</name>
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          <maturityDt>2029-04-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Broadcom Inc</name>
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        <title>Broadcom, Inc. </title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICS </title>
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          <isin value="US3136BRFK81"/>
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        <curCd>USD</curCd>
        <valUSD>87793.56000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-02-25</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>Verizon Master Trust</name>
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        <title>Verizon Master Trust </title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-20</maturityDt>
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        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
        <cusip>91282CPD7</cusip>
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          <isin value="US91282CPD73"/>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-31</maturityDt>
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        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
        <cusip>91282CPF2</cusip>
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          <isin value="US91282CPF22"/>
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        <name>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
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          <isin value="US912810UM89"/>
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        <name>Wells Fargo Bank, National Association</name>
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        <name>Alabama Power Co.</name>
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        <name>Shell Finance US Inc.</name>
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        <name>Gray Media Inc.</name>
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        <name>Goldman Sachs Bank USA</name>
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        <name>Full House Resorts Inc.</name>
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        <title>BellRing Brands Inc </title>
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        <name>Government National Mortgage Association</name>
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        <title>Ginnie Mae II Pool </title>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>Freddie Mac Multifamily Structured Pass Through Certificates</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Federal Farm Credit Banks</name>
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      <invstOrSec>
        <name>Federal Home Loan Banks</name>
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        <name>Federal Farm Credit Banks</name>
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      <invstOrSec>
        <name>Lowes Companies, Inc.</name>
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        <title>Lowe's Cos Inc </title>
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        <name>Energy Transfer LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp. </title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Telus Corp.</name>
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        <title>TELUS Corp </title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-10-15</maturityDt>
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          <annualizedRt>7.00000028</annualizedRt>
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        <name>Crescent Energy Finance LLC</name>
        <lei>54930061FUL6DBLFUW14</lei>
        <title>Crescent Energy Finance LLC </title>
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        <balance>75000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Truist Financial Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>Fannie Mae Pool </title>
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        <name>Turning Point Brands Inc</name>
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        <name>Government National Mortgage Association</name>
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        <title>Ginnie Mae II Pool </title>
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        <name>General Motors Financial Company  Inc</name>
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        <title>General Motors Financial Co Inc </title>
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        <name>UnitedHealth Group Inc.</name>
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        <title>UnitedHealth Group Inc </title>
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        <name>United States Treasury Notes</name>
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        <title>United States Treasury Note/Bond </title>
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        <name>Oracle Corp.</name>
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        <title>Oracle Corp. </title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Exxon Mobil Corp.</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp. </title>
        <cusip>30231GBG6</cusip>
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      <invstOrSec>
        <name>Honeywell International Inc.</name>
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        <title>Honeywell International Inc </title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Homebanc Mortgage Trust 2006 1</name>
        <lei>N/A</lei>
        <title>HomeBanc Mortgage Trust 2005-3 </title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>South Bow Canadian Infrastructure Holdings Ltd.</name>
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        <title>South Bow Canadian Infrastructure Holdings Ltd </title>
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        <balance>150000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Crocs Inc</name>
        <lei>549300B0J6YCXD63OG72</lei>
        <title>Crocs Inc </title>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Eli Lilly &amp; Co.</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co </title>
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          <isin value="US532457CM85"/>
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        <balance>46000.00000000</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>2054-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool </title>
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          <isin value="US3133KN4F78"/>
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        <balance>70237.09000000</balance>
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        <curCd>USD</curCd>
        <valUSD>66698.44000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA </title>
        <cusip>05964HBH7</cusip>
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          <isin value="US05964HBH75"/>
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        <balance>200000.00000000</balance>
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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>N/A</maturityDt>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp 5 7/8 09/26/45</title>
        <cusip>68389XDP7</cusip>
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        <balance>39000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35357.53000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-09-26</maturityDt>
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          <annualizedRt>5.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oneok Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK Inc. </title>
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        <balance>20000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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      <invstOrSec>
        <name>Philip Morris International Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc. </title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Impac CMB Trust</name>
        <lei>N/A</lei>
        <title>Impac CMB Trust Series 2005-4 </title>
        <cusip>45254NPG6</cusip>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-05-25</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Applebees's Funding LLC / IHOP Funding LLC</name>
        <lei>N/A</lei>
        <title>Applebee's Funding LLC / IHOP Funding LLC </title>
        <cusip>03789XAH1</cusip>
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          <isin value="US03789XAH17"/>
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        <balance>80000.00000000</balance>
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        <assetCat>ABS-O</assetCat>
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      <invstOrSec>
        <name>Entergy Corporation</name>
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        <title>Entergy Corp </title>
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      <invstOrSec>
        <name>HLF Financing SaRL LLC and Herbalife International Inc.</name>
        <lei>ST81INWBFR1E54KGC135</lei>
        <title>HLF Financing Sarl LLC / Herbalife International Inc</title>
        <cusip>40390DAC9</cusip>
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        <balance>50000.00000000</balance>
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        <invCountry>US</invCountry>

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          <maturityDt>2029-06-01</maturityDt>
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      <invstOrSec>
        <name>Tegna Inc</name>
        <lei>549300YC5EDBGX85AO10</lei>
        <title>TEGNA Inc </title>
        <cusip>87901JAJ4</cusip>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2028-03-15</maturityDt>
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      <invstOrSec>
        <name>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
        <cusip>912810SC3</cusip>
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          <isin value="US912810SC36"/>
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        <balance>399000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>314415.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>International Bank for Reconstruction &amp; Development</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>International Bank for Reconstruction &amp; Development</title>
        <cusip>45906M5H0</cusip>
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        <balance>100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.17000000</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>Virginia Electric and Power Company</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>Virginia Electric and Power Co 4.95 03/15/36</title>
        <cusip>927804GX6</cusip>
        <identifiers>
          <isin value="US927804GX64"/>
        </identifiers>
        <balance>33000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32959.04000000</valUSD>
        <pctVal>0.137363402547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-02-28</ncom:dateSigned>
      <ncom:nameOfApplicant>Exchange Place Advisors Trust</ncom:nameOfApplicant>
      <ncom:signature>Zachary Richmond</ncom:signature>
      <ncom:signerName>Zachary Richmond</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
