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      <regStreet1>200 West Madison St</regStreet1>
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      <repPdEnd>2027-05-31</repPdEnd>
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      <invstOrSec>
        <name>COMM 2010-C1 MORTGAGE TRUST</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>Freddie Mac Strips </title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HUDBAY MINERALS INC</name>
        <lei>894500LX3TMESP27BE29</lei>
        <title>Hudbay Minerals Inc </title>
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          <isin value="US443628AH54"/>
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        <balance>40000.00000000</balance>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-01</maturityDt>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>Ginnie Mae II Pool </title>
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          <isin value="US3622ACBN99"/>
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        <balance>66641.54000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-09-01</maturityDt>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note </title>
        <cusip>91282CLD1</cusip>
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          <isin value="US91282CLD10"/>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-31</maturityDt>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
        <cusip>91282CQZ7</cusip>
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          <isin value="US91282CQZ76"/>
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        <balance>189000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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        <name>JP MORGAN CHASE &amp; COMPANY</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SM ENERGY COMPANY</name>
        <lei>84BUTVXV5ODI6BXNMH43</lei>
        <title>SM Energy Co </title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool </title>
        <cusip>31418DYZ9</cusip>
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          <isin value="US31418DYZ94"/>
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        <balance>43243.13000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-05-01</maturityDt>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool </title>
        <cusip>3140W1QZ9</cusip>
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          <isin value="US3140W1QZ91"/>
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        <balance>34789.03000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
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          <isin value="US912810RH32"/>
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        <fairValLevel>2</fairValLevel>
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        <name>HONDA AUTO RECEIVABLES 2021-2 OWNER TRUST</name>
        <lei>N/A</lei>
        <title>Honda Auto Receivables 2026-2 Owner Trust </title>
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          <isin value="US43814YAD31"/>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
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          <isin value="US912810UU06"/>
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        <name>BERKSHIRE HATHAWAY ENERGY COMPANY</name>
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        <title>Berkshire Hathaway Energy Co </title>
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          <isin value="US084659AV35"/>
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        <name>GOLDMAN SACHS BANK USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Goldman Sachs Bank USA/New York NY </title>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
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          <isin value="US91282CQC81"/>
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        <balance>95000.00000000</balance>
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        <name>PRESTIGE BRANDS INC</name>
        <lei>549300JBVP4J6D42I235</lei>
        <title>Prestige Brands Inc </title>
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        <balance>50000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MACY'S RETAIL HOLDINGS LLC</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <title>United States Treasury Note </title>
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          <isin value="US9128286T26"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <fairValLevel>2</fairValLevel>
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        <invCountry>CH</invCountry>

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          <maturityDt>N/A</maturityDt>
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        <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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        <name>ONEOK INC</name>
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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>CMS ENERGY CORP</name>
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              <title>CMS Energy Corporation COM</title>
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        <fairValLevel>2</fairValLevel>
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        <name>ALLIANCE RESOURCE OPERATING PARTNERS LP / ALLIANCE RESOURCE FINANCE CORP</name>
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        <name>GS MORTGAGE SECURITIES CORP TRUST 2012-BWTR</name>
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        <fairValLevel>2</fairValLevel>
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        <name>COMM 2013-CCRE7 MORTGAGE TRUST</name>
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        <title>COMM 2013-CCRE7 Mortgage Trust </title>
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          <isin value="US12625FBC95"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Chicago Board of Trade</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
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          <ticker value="FVZ6 COMDTY"/>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>J.P. MORGAN SECURITIES INC.</counterpartyName>
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        <name>AMERICAN TOWER CORP</name>
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        <title>American Tower Corp. </title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>JP MORGAN CHASE BANK NA</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>JPMorgan Chase Bank NA 5 05/22/31</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CANADIAN IMPERIAL BANK OF COMMERCE</name>
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        <title>Canadian Imperial Bank of Commerce </title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc </title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <name>FREDDIE MAC STRUCTURED PASS THROUGH CERTIFICATES SERIES 2020-K119</name>
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        <title>Freddie Mac Multifamily Structured Pass Through </title>
        <cusip>3137FXQS0</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CONOCOPHILLIPS COMPANY</name>
        <lei>6VJJ5GQWIRDQ06DUXG89</lei>
        <title>ConocoPhillips Co </title>
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        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC </title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>PNC FINANCIAL SERVICES GROUP INC (THE)</name>
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        <name>FIRSTCASH INC</name>
        <lei>549300V2X3UU7K0DG350</lei>
        <title>FirstCash Inc </title>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>Fannie Mae Pool </title>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>XPLR INFRASTRUCTURE OPERATING PARTNERS LP</name>
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        <title>XPLR Infrastructure Operating Partners LP </title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <title>American Honda Finance Corp. </title>
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        <name>GAP INC (THE)</name>
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          <maturityDt>2046-08-15</maturityDt>
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      <invstOrSec>
        <name>DUKE ENERGY CAROLINAS LLC</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool </title>
        <cusip>3140QRET6</cusip>
        <identifiers>
          <isin value="US3140QRET64"/>
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        <balance>20378.96000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21184.83000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-01-01</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORP</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool </title>
        <cusip>3132DNQ22</cusip>
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          <isin value="US3132DNQ220"/>
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        <balance>114563.50000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>AMAZON.COM INC</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc. </title>
        <cusip>023135ED4</cusip>
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          <isin value="US023135ED43"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>64281.63000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool </title>
        <cusip>3140FXFD9</cusip>
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          <isin value="US3140FXFD90"/>
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        <balance>156879.70000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-11-01</maturityDt>
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        <name>ORACLE CORP</name>
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        <title>Oracle Corp. </title>
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        <balance>103000.00000000</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>2031-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>CRESCENT ENERGY FINANCE LLC</name>
        <lei>54930061FUL6DBLFUW14</lei>
        <title>Vital Energy Inc </title>
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        <balance>68000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>70289.97000000</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>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>EXELON CORP</name>
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        <title>Exelon Corp. </title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
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              <name>Exelon Corp.</name>
              <title>Exelon Corp. COM</title>
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        <name>CABLE ONE INC</name>
        <lei>549300648QS85T0XSH18</lei>
        <title>Cable One Inc </title>
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          <isin value="US12685JAC99"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FOX CORP</name>
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        <title>Fox Corp </title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-10-13</maturityDt>
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        <name>AMC GLOBAL MEDIA INC</name>
        <lei>549300VGG9K75226LR46</lei>
        <title>AMC Networks, Inc. </title>
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        <fairValLevel>2</fairValLevel>
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        <name>TOTALENERGIES CAPITAL USA LLC</name>
        <lei>9845000979865101C194</lei>
        <title>TotalEnergies Capital USA LLC </title>
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        <balance>50000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>SALESFORCE INC</name>
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        <title>Salesforce, Inc. </title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST 2012-C5</name>
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        <title>MSBAM Commercial Mortgage Securities Trust 2012-CKSV</title>
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        <balance>79233.50000000</balance>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <title>United States Treasury Bond </title>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BMO 2026-C15 MORTGAGE TRUST</name>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Ginnie Mae II Pool </title>
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          <isin value="US3617MKP781"/>
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        <balance>111253.15000000</balance>
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        <valUSD>92210.12000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>CNH EQUIPMENT TRUST 2026-B</name>
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        <name>CONSENSUS CLOUD SOLUTIONS INC</name>
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        <name>BANCO BILBAO VIZCAYA ARGENTARIA SA</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <name>META PLATFORMS INC</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms Inc. </title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>TRUIST FINANCIAL CORP</name>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>BATH &amp; BODY WORKS INC</name>
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        <name>CARMAX AUTO OWNER TRUST</name>
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        <name>HOWARD HUGHES CORP (THE)</name>
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        <name>FREMF 2020-K117 MORTGAGE TRUST</name>
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        <name>ALLIANT ENERGY CORP</name>
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        <name>FIRST AMERICAN FUNDS INC</name>
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        <title>First American Treasury Obligations Fund </title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>VERIZON MASTER TRUST</name>
        <lei>5493007MUBNP1GFMEB89</lei>
        <title>Verizon Master Trust Series 2026-1 </title>
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        <balance>48000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47618.97000000</valUSD>
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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>2031-02-20</maturityDt>
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        <name>NEXTERA ENERGY CAPITAL HOLDINGS INC</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings Inc </title>
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          <isin value="US65339KBR05"/>
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        <balance>15000.00000000</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>2030-06-01</maturityDt>
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      <invstOrSec>
        <name>ONEOK INC</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
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        <balance>31000.00000000</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>2032-10-15</maturityDt>
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          <annualizedRt>4.95000000</annualizedRt>
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      <invstOrSec>
        <name>TELECOM ITALIA CAPITAL SA</name>
        <lei>549300777DJZOR5C4L39</lei>
        <title>Telecom Italia Capital SA </title>
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          <isin value="US87927VAF58"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36405.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-15</maturityDt>
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      <invstOrSec>
        <name>SOUTHERN COMPANY (THE)</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co/The </title>
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          <isin value="US842587ED56"/>
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        <balance>75000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>74137.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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              <name>Southern Co.</name>
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      <invstOrSec>
        <name>NISSAN AUTO RECEIVABLES OWNER TRUST</name>
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        <title>Nissan Auto Receivables 2026-A Owner Trust </title>
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          <isin value="US65479YAD22"/>
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        <balance>38000.00000000</balance>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool </title>
        <cusip>31427QTS1</cusip>
        <identifiers>
          <isin value="US31427QTS11"/>
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        <balance>29670.91000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29417.87000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>HONDA MOTOR CO LTD</name>
        <lei>549300P7ZYCQJ36CCS16</lei>
        <title>Honda Motor Co Ltd. </title>
        <cusip>438127AE2</cusip>
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          <isin value="US438127AE20"/>
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        <balance>98000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>96686.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.68800000</annualizedRt>
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      <invstOrSec>
        <name>FLORIDA POWER &amp; LIGHT COMPANY</name>
        <lei>A89MY1K3YLIGJMYWVX50</lei>
        <title>Florida Power &amp; Light Co </title>
        <cusip>341081GU5</cusip>
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          <isin value="US341081GU57"/>
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        <balance>27000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27041.79000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool </title>
        <cusip>31418FNX1</cusip>
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          <isin value="US31418FNX14"/>
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        <balance>21526.88000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21190.17000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>FORD MOTOR CO</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Co. </title>
        <cusip>345370DA5</cusip>
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        <balance>44000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38500.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-12</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>HEALTHEQUITY INC</name>
        <lei>529900LRJU1RAFQHM467</lei>
        <title>HealthEquity Inc </title>
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        <balance>30000.00000000</balance>
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        <valUSD>29284.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool </title>
        <cusip>31418ELW8</cusip>
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          <isin value="US31418ELW83"/>
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        <balance>53469.29000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>META PLATFORMS INC</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms, Inc. 4.6 11/15/32</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHL MORTGAGE PASS-THROUGH TRUST</name>
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        <title>Alternative Loan Trust 2003-22CB </title>
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        <balance>90556.57000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2033-12-25</maturityDt>
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        <name>INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT (WORLD BANK)</name>
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        <title>International Bank for Reconstruction &amp; Development</title>
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        <balance>86000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-11</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICS </title>
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        <balance>10863.04000000</balance>
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        <valUSD>10719.57000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-01-25</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ING GROEP NV</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING Groep NV </title>
        <cusip>456837AZ6</cusip>
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          <isin value="US456837AZ69"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>179572.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.24999888</annualizedRt>
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      <invstOrSec>
        <name>BANK OF NEW YORK MELLON CORP (THE)</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>Bank of New York Mellon Corp/The </title>
        <cusip>06406RBZ9</cusip>
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          <isin value="US06406RBZ91"/>
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        <balance>64000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>63870.49000000</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>2032-07-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.06000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BOEING COMPANY (THE)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co/The </title>
        <cusip>097023CY9</cusip>
        <identifiers>
          <isin value="US097023CY98"/>
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        <balance>37000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37116.92000000</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>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
        <cusip>91282CPT2</cusip>
        <identifiers>
          <isin value="US91282CPT26"/>
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        <balance>155000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>151960.55000000</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DELUXE CORP</name>
        <lei>KWGNKB8TX9LE5TV29231</lei>
        <title>Deluxe Corp </title>
        <cusip>248019AU5</cusip>
        <identifiers>
          <isin value="US248019AU57"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60652.80000000</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>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERIGAS PARTNERS LP / AMERIGAS FINANCE CORP</name>
        <lei>N/A</lei>
        <title>AmeriGas Partners LP / AmeriGas Finance Corp. </title>
        <cusip>030981AP9</cusip>
        <identifiers>
          <isin value="US030981AP92"/>
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        <balance>35000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37223.76000000</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>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHEVRON USA INC</name>
        <lei>VA8TZDWPEZYU430RZ444</lei>
        <title>Chevron USA, Inc. </title>
        <cusip>166756BE5</cusip>
        <identifiers>
          <isin value="US166756BE57"/>
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        <balance>36000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35855.74000000</valUSD>
        <pctVal>0.156716311482</pctVal>
        <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>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</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>99000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>72803.67000000</valUSD>
        <pctVal>0.318206307408</pctVal>
        <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>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool </title>
        <cusip>31427RRR3</cusip>
        <identifiers>
          <isin value="US31427RRR39"/>
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        <balance>62567.85000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59193.31000000</valUSD>
        <pctVal>0.258718888737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool </title>
        <cusip>3140W0VA0</cusip>
        <identifiers>
          <isin value="US3140W0VA03"/>
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        <balance>22047.35000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21848.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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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>21155.91000000</valUSD>
        <pctVal>0.092467096795</pctVal>
        <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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bond </title>
        <cusip>912810TW8</cusip>
        <identifiers>
          <isin value="US912810TW80"/>
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        <balance>152000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>144506.87000000</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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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
        <cusip>91282CPK1</cusip>
        <identifiers>
          <isin value="US91282CPK17"/>
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        <balance>310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>304417.58000000</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>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BROADCOM INC</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom Inc </title>
        <cusip>11135FCB5</cusip>
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          <isin value="US11135FCB58"/>
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        <balance>27000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26321.11000000</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>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
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      <invstOrSec>
        <name>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP </title>
        <cusip>29273VAJ9</cusip>
        <identifiers>
          <isin value="US29273VAJ98"/>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>125840.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
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          <annualizedRt>6.62500096</annualizedRt>
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      <invstOrSec>
        <name>FMC CORP</name>
        <lei>CKDHZ2X64EEBQCSP7013</lei>
        <title>FMC Corp </title>
        <cusip>302491AZ8</cusip>
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          <isin value="US302491AZ88"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>110952.23000000</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>2055-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.45000128</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool </title>
        <cusip>3140W6UP5</cusip>
        <identifiers>
          <isin value="US3140W6UP50"/>
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        <balance>148133.62000000</balance>
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        <curCd>USD</curCd>
        <valUSD>144136.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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        <name>LOCKHEED MARTIN CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>Government National Mortgage Association </title>
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        <name>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool </title>
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        <issuerCat>USGSE</issuerCat>
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        <name>PAYPAL HOLDINGS INC</name>
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        <title>PayPal Holdings, Inc. </title>
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        <valUSD>33222.34000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association </title>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-02-20</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>JOHNSON CONTROLS INTERNATIONAL PLC / TYCO FIRE &amp; SECURITY FINANCE SCA</name>
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        <title>Johnson Controls International plc </title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <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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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>ICAHN ENTERPRISES LP / ICAHN ENTERPRISES FINANCE CORP</name>
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        <title>Icahn Enterprises LP/ Icahn Enterprises Finance Corp.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>FEDERAL HOME LOAN MORTGAGE CORP</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Multifamily Structured Pass Through </title>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>FEDERAL FARM CREDIT BANKS FUNDING CORP</name>
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        <name>MORGAN STANLEY BANK OF AMERICA MERRILL LYNCH TRUST 2012-C5</name>
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        <title>Morgan Stanley Bank of America Merrill Lynch Tr </title>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <title>United States Treasury Note/Bond </title>
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        <name>CVR ENERGY INC</name>
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        <name>MORGAN STANLEY PRIVATE BANK NA</name>
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        <title>Morgan Stanley Private Bank NA </title>
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        <name>VERIZON COMMUNICATIONS INC</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc. </title>
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        <balance>84000.00000000</balance>
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        <name>WALT DISNEY COMPANY (THE)</name>
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        <name>FEDERAL HOME LOAN MORTGAGE CORP</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>Freddie Mac Multifamily Structured Pass Through Certificates</title>
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        <title>Wells Fargo Bank NA </title>
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        <name>Goldman Sachs Bank USA</name>
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        <title>Goldman Sachs Bank USA/New York NY </title>
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      <invstOrSec>
        <name>BELLRING BRANDS 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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        <isRestrictedSec>N</isRestrictedSec>

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        <name>FREDDIE MAC STRUCTURED PASS THROUGH CERTIFICATES</name>
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        <title>Freddie Mac Multifamily Structured Pass Through Certificates</title>
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        <fairValLevel>2</fairValLevel>
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        <name>GOVERNMENT NATIONAL MORTGAGE ASSOCIATION</name>
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        <title>Ginnie Mae II Pool </title>
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          <isin value="US36179WQB71"/>
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        <name>WORLD OMNI AUTO RECEIVABLES TRUST 2025-C</name>
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        <title>World Omni Auto Receivables Trust 2025-C </title>
        <cusip>981936AC1</cusip>
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        <fairValLevel>2</fairValLevel>
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        <name>FEDERAL FARM CREDIT BANKS FUNDING CORP</name>
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        <title>Federal Farm Credit Banks Funding Corp </title>
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        <name>LOWE'S COMPANIES INC</name>
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        <title>General Motors Financial Co, Inc. </title>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool </title>
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        <balance>36136.60000000</balance>
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        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley Bank of America Merrill Lynch Trust </title>
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        <name>TRUIST FINANCIAL CORP</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp. </title>
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        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
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        <name>Chicago Board of Trade</name>
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        <name>ELI LILLY &amp; COMPANY</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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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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        <name>TUTOR PERINI CORP</name>
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        <name>Fnma Pass-Thru I</name>
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        <title>Fannie Mae Pool </title>
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        <name>PHILIP MORRIS INTERNATIONAL INC</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>IMPAC CMB TRUST</name>
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        <name>APPLEBEE'S FUNDING LLC</name>
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        <name>JOHN DEERE OWNER TRUST 2015-B</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
        <cusip>912810SC3</cusip>
        <identifiers>
          <isin value="US912810SC36"/>
        </identifiers>
        <balance>358000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>258095.63000000</valUSD>
        <pctVal>1.128070293443</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <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 &amp; 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>36000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34260.15000000</valUSD>
        <pctVal>0.149742393793</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>
      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORP</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corp. </title>
        <cusip>3134HAD67</cusip>
        <identifiers>
          <isin value="US3134HAD677"/>
        </identifiers>
        <balance>44000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>42058.02000000</valUSD>
        <pctVal>0.183824898403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-08-31</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>
