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      <regStreet1>200 West Madison St</regStreet1>
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      <regZipOrPostalCode>60606</regZipOrPostalCode>
      <regPhone>312-857-2160</regPhone>
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      <repPdEnd>2025-05-31</repPdEnd>
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        <name>United States Treasury Bonds</name>
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        <name>NextEra Energy Capital Holdings Inc</name>
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      <invstOrSec>
        <name>Commercial Mortgage Trust</name>
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      <invstOrSec>
        <name>HudBay Minerals Inc</name>
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        <name>Government National Mortgage Association</name>
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        <name>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bond </title>
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          <isin value="US912810UG12"/>
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        <name>DELL EQUIPMENT FINANCE TRUST 2023-3</name>
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        <title>Dell Equipment Finance Trust 2023-3 </title>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool </title>
        <cusip>31418DYZ9</cusip>
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        <balance>49887.60000000</balance>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
        <cusip>912810UJ5</cusip>
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          <isin value="US912810UJ50"/>
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        <balance>378000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Berkshire Hathaway Energy Company</name>
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        <name>Prestige Brands, Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <title>Freddie Mac Pool </title>
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        <name>Federal Farm Credit Banks</name>
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        <name>Goldman Sachs Group, Inc.</name>
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        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note </title>
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        <name>Burlington Northern Santa Fe LLC</name>
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        <name>US Foods Inc</name>
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        <title>US Foods Inc </title>
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        <name>United Air Lines, Inc.</name>
        <lei>K1OQBWM7XEOO08LDNP29</lei>
        <title>United Airlines 2023-1 Class A Pass Through Trust </title>
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        <name>Federal National Mortgage Association</name>
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        <title>Federal National Mortgage Association </title>
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        <name>Walmart Inc</name>
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        <name>American Honda Finance Corporation</name>
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        <name>Alliance Resource Operating Partners LP/Alliance Resource Finance Corp</name>
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        <title>Alliance Resource Operating Partners LP </title>
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        <name>Federal Home Loan Banks</name>
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        <name>Commercial Mortgage Trust</name>
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        <name>United States Treasury Notes</name>
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        <name>Morgan Stanley</name>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <name>Fnma Pass-Thru I</name>
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        <name>J.P. Morgan Chase Commercial Mortgage Securities Trust</name>
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        <name>ConocoPhillips Co.</name>
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        <name>PNC Financial Services Group Inc.</name>
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        <name>B.A.T. Capital Corporation</name>
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        <name>Morgan Stanley Bank of America Merrill Lynch Trust 2014-C17</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>Davita Inc</name>
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        <title>DaVita Inc </title>
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        <name>Walt Disney Company</name>
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        <name>MERCEDES-BENZ  AUTO LEASE TRUST 2024-A</name>
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        <name>Enpro Inc</name>
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        <name>Nexstar Media Inc.</name>
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        <name>Government National Mortgage Association</name>
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        <name>Synchrony Financial</name>
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        <name>Fnma Pass-Thru I</name>
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        <name>The Gap Inc.</name>
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        <name>Florida Power &amp; Light Co.</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>Federal National Mortgage Association</name>
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        <name>Vital Energy Inc</name>
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        <name>Bank of America Corp.</name>
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        <name>J.P. Morgan Chase Commercial Mortgage Securities Trust</name>
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        <name>The Charles Schwab Corporation</name>
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        <name>Chicago Board of Trade</name>
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        <name>Fox Corporation</name>
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        <name>Centerpoint Energy Inc</name>
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        <name>Federal Farm Credit Banks</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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      <invstOrSec>
        <name>Consensus Cloud Solutions Inc</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>53679.22000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Banco Bilbao Vizcaya Argentaria SA</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
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        <cusip>05946KAF8</cusip>
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        <assetCat>DBT</assetCat>
        <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>Bank of Montreal</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
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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>2030-09-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.64000160</annualizedRt>
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        <name>Keurig Dr Pepper Inc</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr Pepper Inc </title>
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          <isin value="US49271VAU44"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
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        <name>Meta Platforms Inc</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
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          <maturityDt>2053-05-15</maturityDt>
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        <name>AMC Networks Inc</name>
        <lei>549300VGG9K75226LR46</lei>
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          <maturityDt>2029-02-15</maturityDt>
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        <name>Performance Food Group Inc</name>
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        <name>VERIZON MASTER TRUST</name>
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        <title>Verizon Master Trust </title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Caixabank S.A.</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
        <title>CaixaBank SA </title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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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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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CFCRE 2016-C6 Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CFCRE Commercial Mortgage Trust 2011-C2 </title>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc </title>
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        <invCountry>US</invCountry>

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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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        <name>UnitedHealth Group Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS Freddie Mac Pool </title>
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        <name>Chicago Board of Trade</name>
        <lei>549300EX04Q2QBFQTQ27</lei>
        <title>CBOT 2 Year US Treasury Note Future </title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>Florida Power &amp; Light Co.</name>
        <lei>A89MY1K3YLIGJMYWVX50</lei>
        <title>Florida Power &amp; Light Co </title>
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        <name>Ford Motor Company</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Co. </title>
        <cusip>345370DA5</cusip>
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        <balance>60000.00000000</balance>
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        <name>Bread Financial Holdings Inc</name>
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        <name>Comerica Incorporated</name>
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        <name>UnitedHealth Group Inc.</name>
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        <name>BMW VEHICLE LEASE TRUST 2024-2</name>
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        <name>OneMain Financial Corporation</name>
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        <name>NiSource Inc.</name>
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        <name>ING Groep N.V.</name>
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        <name>The Bank of New York Mellon Corp.</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
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        <name>Dominion Energy Inc</name>
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        <name>The Boeing Company</name>
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        <name>Deluxe Corporation</name>
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        <name>American Express Company</name>
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        <name>Chevron USA Inc</name>
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        <name>Federal Farm Credit Banks</name>
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        <name>Broadcom Inc</name>
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        <name>Energy Transfer LP</name>
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        <name>CHICAGO MERCANTILE EXCHANGE</name>
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        <title>CME E-Mini Standard &amp; Poor's 500 Index Future </title>
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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>CITIGROUP COMMERCIAL MORTGAGE TRUST</name>
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        <name>COMM 2013-CCRE11 Mortgage Trust</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Ziff Davis Inc</name>
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        <name>Phillips 66 Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>United States Treasury Bonds</name>
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        <name>General Motors Financial Company  Inc</name>
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        <name>Waste Management, Inc.</name>
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        <name>Noble Finance II LLC.</name>
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        <name>The Cigna Group</name>
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        <name>Altagas Ltd</name>
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        <name>Federal National Mortgage Association</name>
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        <title>Fannie Mae Pool </title>
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        <name>Eldorado Gold Corp</name>
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        <name>Midamerican Energy Company</name>
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        <name>NatWest Group PLC</name>
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        <title>NatWest Group PLC </title>
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        <name>Paramount Global</name>
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        <name>Dell International L.L.C. and EMC Corporation</name>
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        <name>3M Company</name>
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        <name>Fnma Pass-Thru I</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool </title>
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          <isin value="US3140QVQB31"/>
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        <balance>90255.91000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Comcast Corporation</name>
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        <name>HLF Financing SaRL LLC and Herbalife International Inc.</name>
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        <title>SunCoke Energy Inc </title>
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        <name>Ameriquest Mortgage Securities Inc Asset Backed Pass-Through Certificates Series 2005-R7</name>
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        <name>Morgan Stanley Private Bank National Association</name>
        <lei>549300GS0W0TEUQS8571</lei>
        <title>Morgan Stanley Private Bank NA </title>
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        <name>Cisco Systems, Inc.</name>
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        <title>Cisco Systems Inc </title>
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        <name>Central Garden &amp; Pet Company</name>
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        <name>Federal Farm Credit Banks</name>
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        <issuerCat>USGSE</issuerCat>
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        <name>Oracle Corp.</name>
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        <title>Oracle Corp. </title>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc. </title>
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        <name>Hyundai Auto Receivables Trust 2024-C</name>
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        <title>Hyundai Auto Receivables Trust </title>
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      <invstOrSec>
        <name>J P Morgan Chase Commercial Mortgage Securities Trust 2019-MFP</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Chase Commercial Mortgage Securities  Trust</title>
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          <isin value="US46651MAL00"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
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          <isin value="US91282CNA52"/>
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        <balance>276000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>273326.25000000</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>2032-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp </title>
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          <isin value="US14040HDG74"/>
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        <balance>10000.00000000</balance>
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        <valUSD>10185.07000000</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>
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        <title>Honda Auto Receivables 2024-3 Owner Trust </title>
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        <identifiers>
          <isin value="US43813YAC66"/>
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        <balance>60000.00000000</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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          <maturityDt>2027-10-21</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Coca-Cola Co (The)</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>Coca-Cola Co/The </title>
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          <isin value="US191216CV08"/>
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        <balance>37000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32590.99000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.65000000</annualizedRt>
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      <invstOrSec>
        <name>Federal Home Loan Banks</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>Federal Home Loan Banks </title>
        <cusip>3130B5TW8</cusip>
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          <isin value="US3130B5TW84"/>
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        <balance>155000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>154568.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.54000000</annualizedRt>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool </title>
        <cusip>31418DHM7</cusip>
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          <isin value="US31418DHM74"/>
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        <balance>138707.20000000</balance>
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        <curCd>USD</curCd>
        <valUSD>123860.31000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada </title>
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        <balance>87000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.65000072</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co </title>
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        <balance>50000.00000000</balance>
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        <valUSD>50761.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.24400078</annualizedRt>
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        <name>Zoominfo Technologies Llc /Zoominfo Financial Corporation</name>
        <lei>254900NOX7TLOJ3WS309</lei>
        <title>ZoomInfo Technologies LLC/ZoomInfo Finance Corp </title>
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        <identifiers>
          <isin value="US98981BAA08"/>
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        <balance>54000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50305.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>HLF Financing SaRL LLC and Herbalife International Inc.</name>
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        <title>HLF Financing Sarl LLC </title>
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        <balance>54000.00000000</balance>
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        <valUSD>58688.33000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
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          <annualizedRt>12.25000000</annualizedRt>
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      <invstOrSec>
        <name>Consolidated Edison Company of New York, Inc.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICS </title>
        <cusip>3136BRFK8</cusip>
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          <isin value="US3136BRFK81"/>
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        <balance>155526.97000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool </title>
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        <balance>283013.51000000</balance>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2041-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <name>Wells Fargo Bank, National Association</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
        <title>Wells Fargo Bank NA </title>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alabama Power Company</name>
        <lei>0RL818ELFOHP5JHOFU19</lei>
        <title>Alabama Power Co. </title>
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        <balance>40000.00000000</balance>
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        <valUSD>27595.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Goldman Sachs Bank USA</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Goldman Sachs Bank USA/New York NY </title>
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        <balance>114000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>114196.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
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        <name>John Deere Capital Corp.</name>
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        <name>Government National Mortgage Association</name>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <name>Energy Transfer LP</name>
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        <name>International Bank for Reconstruction &amp; Development</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>Fannie Mae Pool </title>
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        <name>Fnma Pass-Thru I</name>
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        <name>Full House Resorts Inc.</name>
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        <name>Turning Point Brands Inc</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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        <title>Ginnie Mae II Pool </title>
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        <name>General Motors Financial Company  Inc</name>
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        <name>UnitedHealth Group Inc.</name>
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        <name>Exxon Mobil Corp.</name>
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        <title>Exxon Mobil Corp. </title>
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        <name>Honeywell International Inc.</name>
        <lei>ISRPG12PN4EIEOEMW547</lei>
        <title>Honeywell International Inc </title>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Oneok Inc.</name>
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        <name>Dominion Energy Inc</name>
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          <annualizedRt>8.87499834</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>United States Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond </title>
        <cusip>91282CMY4</cusip>
        <identifiers>
          <isin value="US91282CMY48"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19939.84000000</valUSD>
        <pctVal>0.085304761987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</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>2025-05-31</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>
</edgarSubmission>
