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                <lei>BQ4BKCS1HXDV9HN80Z93</lei>
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                <cusip>30303M102</cusip>
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                    <isin value="US30303M1027"/>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>ABBVIE INC</name>
                <lei>FR5LCKFTG8054YNNRU85</lei>
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                <cusip>00287Y109</cusip>
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                    <isin value="US00287Y1091"/>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>GAMING AND LEISURE PROPERTIES INC</name>
                <lei>5493006GWRDBCZYWTM57</lei>
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                <cusip>36467J108</cusip>
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                    <isin value="US36467J1088"/>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>HILTON WORLDWIDE HOLDINGS INC</name>
                <lei>549300HVGPK36ICB0B89</lei>
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                    <isin value="US43300A2033"/>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>CHARTER COMMUNICATIONS INC</name>
                <lei>0J0XRGZE3PBRFEZ7MV65</lei>
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                <cusip>16119P108</cusip>
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                <assetCat>EC</assetCat>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>BJ'S WHOLESALE CLUB HOLDINGS INC</name>
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                <cusip>05550J101</cusip>
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                    <isin value="US05550J1016"/>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>CIGNA GROUP/THE</name>
                <lei>549300VIWYMSIGT1U456</lei>
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                <cusip>125523100</cusip>
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                    <isin value="US1255231003"/>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>CORTEVA INC</name>
                <lei>549300WZN9I2QKLS0O94</lei>
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                <cusip>22052L104</cusip>
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                    <isin value="US22052L1044"/>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>APOLLO ASSET MANAGEMENT INC</name>
                <lei>54930054P2G7ZJB0KM79</lei>
                <title>COMMON STOCK</title>
                <cusip>03769M106</cusip>
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                    <isin value="US03769M1062"/>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>CONSTELLATION ENERGY CORP</name>
                <lei>549300F8Y20RYGNGV346</lei>
                <title>COMMON STOCK</title>
                <cusip>21037T109</cusip>
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                    <isin value="US21037T1097"/>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>NORTHROP GRUMMAN CORP</name>
                <lei>RIMU48P07456QXSO0R61</lei>
                <title>COMMON STOCK</title>
                <cusip>666807102</cusip>
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                    <isin value="US6668071029"/>
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                <balance>5980</balance>
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                <curCd>USD</curCd>
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                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>SOUTHWEST AIRLINES CO</name>
                <lei>UDTZ87G0STFETI6HGH41</lei>
                <title>COMMON STOCK</title>
                <cusip>844741108</cusip>
                <identifiers>
                    <isin value="US8447411088"/>
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                <balance>52433</balance>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>UNITED RENTALS INC</name>
                <lei>5323X5O7RN0NKFCDRY08</lei>
                <title>COMMON STOCK</title>
                <cusip>911363109</cusip>
                <identifiers>
                    <isin value="US9113631090"/>
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                <balance>11878</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>5565199.34</valUSD>
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                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>BANK OF AMERICA CORP</name>
                <lei>9DJT3UXIJIZJI4WXO774</lei>
                <title>COMMON STOCK</title>
                <cusip>060505104</cusip>
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                    <isin value="US0605051046"/>
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                <balance>178165</balance>
                <units>NS</units>
                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>EASTMAN CHEMICAL CO</name>
                <lei>FDPVHDGJ1IQZFK9KH630</lei>
                <title>COMMON STOCK</title>
                <cusip>277432100</cusip>
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                    <isin value="US2774321002"/>
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                <units>NS</units>
                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isCashCollateral>N</isCashCollateral>
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            <invstOrSec>
                <name>PULTEGROUP INC</name>
                <lei>N/A</lei>
                <title>COMMON STOCK</title>
                <cusip>745867101</cusip>
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                <balance>38575</balance>
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                <curCd>USD</curCd>
                <valUSD>2108895.25</valUSD>
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                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>PROCTER  AND  GAMBLE CO/THE</name>
                <lei>2572IBTT8CCZW6AU4141</lei>
                <title>COMMON STOCK</title>
                <cusip>742718109</cusip>
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                    <isin value="US7427181091"/>
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                <curCd>USD</curCd>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>BALL CORP</name>
                <lei>0BGI85ALH27ZJP15DY16</lei>
                <title>COMMON STOCK</title>
                <cusip>058498106</cusip>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>AMERICAN INTERNATIONAL GROUP INC</name>
                <lei>ODVCVCQG2BP6VHV36M30</lei>
                <title>COMMON STOCK</title>
                <cusip>026874784</cusip>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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            <invstOrSec>
                <name>WALMART INC</name>
                <lei>Y87794H0US1R65VBXU25</lei>
                <title>COMMON STOCK</title>
                <cusip>931142103</cusip>
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                <assetCat>EC</assetCat>
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            <invstOrSec>
                <name>QUALCOMM INC</name>
                <lei>H1J8DDZKZP6H7RWC0H53</lei>
                <title>COMMON STOCK</title>
                <cusip>747525103</cusip>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>COCA-COLA CO/THE</name>
                <lei>UWJKFUJFZ02DKWI3RY53</lei>
                <title>COMMON STOCK</title>
                <cusip>191216100</cusip>
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                <curCd>USD</curCd>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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            <invstOrSec>
                <name>CITIGROUP INC</name>
                <lei>6SHGI4ZSSLCXXQSBB395</lei>
                <title>COMMON STOCK</title>
                <cusip>172967424</cusip>
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                <balance>58010</balance>
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                <curCd>USD</curCd>
                <valUSD>2940526.9</valUSD>
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                <assetCat>EC</assetCat>
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                <invCountry>US</invCountry>
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                <fairValLevel>1</fairValLevel>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>AMERICAN TOWER CORP</name>
                <lei>5493006ORUSIL88JOE18</lei>
                <title>COMMON STOCK</title>
                <cusip>03027X100</cusip>
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                <curCd>USD</curCd>
                <valUSD>1172813.23</valUSD>
                <pctVal>0.780175277886</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
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                    <isLoanByFund>N</isLoanByFund>
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            <invstOrSec>
                <name>ORACLE CORP</name>
                <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
                <title>COMMON STOCK</title>
                <cusip>68389X105</cusip>
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                <balance>38571</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>3371105.4</valUSD>
                <pctVal>2.242516561846</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>MICROSOFT CORP</name>
                <lei>INR2EJN1ERAN0W5ZP974</lei>
                <title>COMMON STOCK</title>
                <cusip>594918104</cusip>
                <identifiers>
                    <isin value="US5949181045"/>
                </identifiers>
                <balance>25247</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>6297106.74</valUSD>
                <pctVal>4.188942344004</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>CONOCOPHILLIPS </name>
                <lei>WPTL2Z3FIYTHSP5V2253</lei>
                <title>COMMON STOCK</title>
                <cusip>20825C104</cusip>
                <identifiers>
                    <isin value="US20825C1045"/>
                </identifiers>
                <balance>44506</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>4599695.1</valUSD>
                <pctVal>3.059795294799</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>EXELON CORP</name>
                <lei>3SOUA6IRML7435B56G12</lei>
                <title>COMMON STOCK</title>
                <cusip>30161N101</cusip>
                <identifiers>
                    <isin value="US30161N1019"/>
                </identifiers>
                <balance>79678</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>3218194.42</valUSD>
                <pctVal>2.140797581141</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>THERMO FISHER SCIENTIFIC INC</name>
                <lei>HCHV7422L5HDJZCRFL38</lei>
                <title>COMMON STOCK</title>
                <cusip>883556102</cusip>
                <identifiers>
                    <isin value="US8835561023"/>
                </identifiers>
                <balance>2981</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1614986.56</valUSD>
                <pctVal>1.074316486206</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>GOLDMAN SACHS GROUP INC/THE</name>
                <lei>784F5XWPLTWKTBV3E584</lei>
                <title>COMMON STOCK</title>
                <cusip>38141G104</cusip>
                <identifiers>
                    <isin value="US38141G1040"/>
                </identifiers>
                <balance>12235</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>4302437.75</valUSD>
                <pctVal>2.862054657409</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>O'REILLY AUTOMOTIVE INC</name>
                <lei>549300K2RLMQL149Q332</lei>
                <title>COMMON STOCK</title>
                <cusip>67103H107</cusip>
                <identifiers>
                    <isin value="US67103H1077"/>
                </identifiers>
                <balance>2981</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>2474528.1</valUSD>
                <pctVal>1.646098115770</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>FREEPORT-MCMORAN INC</name>
                <lei>549300IRDTHJQ1PVET45</lei>
                <title>COMMON STOCK</title>
                <cusip>35671D857</cusip>
                <identifiers>
                    <isin value="US35671D8570"/>
                </identifiers>
                <balance>97923</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>4011905.31</valUSD>
                <pctVal>2.668787544356</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>EXXON MOBIL CORP</name>
                <lei>J3WHBG0MTS7O8ZVMDC91</lei>
                <title>COMMON STOCK</title>
                <cusip>30231G102</cusip>
                <identifiers>
                    <isin value="US30231G1022"/>
                </identifiers>
                <balance>49076</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>5393943.16</valUSD>
                <pctVal>3.588142592621</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>REGENERON PHARMACEUTICALS INC</name>
                <lei>549300RCBFWIRX3HYQ56</lei>
                <title>COMMON STOCK</title>
                <cusip>75886F107</cusip>
                <identifiers>
                    <isin value="US75886F1075"/>
                </identifiers>
                <balance>5923</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>4503967.66</valUSD>
                <pctVal>2.996115776021</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>UNION PACIFIC CORP</name>
                <lei>549300LMMRSZZCZ8CL11</lei>
                <title>COMMON STOCK</title>
                <cusip>907818108</cusip>
                <identifiers>
                    <isin value="US9078181081"/>
                </identifiers>
                <balance>14832</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>3074376.96</valUSD>
                <pctVal>2.045127764370</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>SANOFI</name>
                <lei>549300E9PC51EN656011</lei>
                <title>COMMON STOCK - ADR</title>
                <cusip>80105N105</cusip>
                <identifiers>
                    <isin value="US80105N1054"/>
                </identifiers>
                <balance>85568</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>4008860.8</valUSD>
                <pctVal>2.666762284601</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>FR</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>NXP SEMICONDUCTORS NV</name>
                <lei>724500M9BY5293JDF951</lei>
                <title>ORDINARY SHARES</title>
                <cusip>N6596X109</cusip>
                <identifiers>
                    <isin value="NL0009538784"/>
                </identifiers>
                <balance>17798</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>3176587.04</valUSD>
                <pctVal>2.113119645368</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>NL</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>ASSURED GUARANTY LTD</name>
                <lei>549300BBOQUJEPH87M14</lei>
                <title>ORDINARY SHARES</title>
                <cusip>G0585R106</cusip>
                <identifiers>
                    <isin value="BMG0585R1060"/>
                </identifiers>
                <balance>23603</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>1473063.23</valUSD>
                <pctVal>0.979906676878</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>EC</assetCat>
                <issuerCat>CORP</issuerCat>
                <invCountry>BM</invCountry>

                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
            <invstOrSec>
                <name>PUTNAM INVESTMENT FUNDS-PUTNAM GOVERNMENT MONEY MARKET FUND</name>
                <lei>549300SEUI2XMME8T893</lei>
                <title>SHORT TERM INV FUND</title>
                <cusip>74680A869</cusip>
                <identifiers>
                    <other otherDesc="Internal ID" value="1823199"/>
                </identifiers>
                <balance>5290461</balance>
                <units>NS</units>
                <curCd>USD</curCd>
                <valUSD>5290461</valUSD>
                <pctVal>3.519304502404</pctVal>
                <payoffProfile>Long</payoffProfile>
                <assetCat>STIV</assetCat>
                <issuerCat>PF</issuerCat>
                <invCountry>US</invCountry>
                <isRestrictedSec>N</isRestrictedSec>

                <fairValLevel>1</fairValLevel>
                <securityLending>
                    <isCashCollateral>N</isCashCollateral>
                    <isNonCashCollateral>N</isNonCashCollateral>
                    <isLoanByFund>N</isLoanByFund>
                </securityLending>
            </invstOrSec>
        </invstOrSecs>
        <explntrNotes>
            <explntrNote note="Monthly total returns provided exclude any applicable sales loads or redemption fees. " noteItem="B.5.a"/>
            <explntrNote note="For total return swaps, interest rate swaps or spread swaps, if any, the mark to market payment may be either paid or received, depending on the change in value of the underlying index, basket or equity. For credit default swaps, if any, floating rate index related payments are only made upon the occurrence of a credit event on the reference obligation." noteItem="C.11.f.i.2"/>
            <explntrNote note="For certain swaptions, if any, the value provided may include any unpaid or received premium and as a result may be a negative value." noteItem="C.2.c"/>
            <explntrNote note="For total return swaps, interest rate swaps or spread swaps, if any, the mark to market payment may be either received or paid, depending on the change in value of the underlying index, basket or equity. For credit default swaps, if any, floating rate index related payments are only made upon the occurrence of a credit event on the reference obligation." noteItem="C.11.f.i.1"/>
        </explntrNotes>
        <signature>
            <ncom:dateSigned>2023-04-27</ncom:dateSigned>
            <ncom:nameOfApplicant>Putnam Investments Inc</ncom:nameOfApplicant>
            <ncom:signature>Janet C. Smith</ncom:signature>
            <ncom:signerName>NPORT</ncom:signerName>
            <ncom:title>Principal Financial Officer</ncom:title>
        </signature>
    </formData>
</edgarSubmission>
