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        <name>Shell plc</name>
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        <name>Occidental Petroleum Corp.</name>
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        <name>Five Corners Funding Trust III</name>
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        <name>Wells Fargo Bank NA into Schlumberger NV</name>
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        <name>Exxon Mobil Corp.</name>
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        <name>Matador Resources Co.</name>
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        <name>Wynn Macau Ltd.</name>
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        <name>Celanese US Holdings LLC</name>
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        <name>FHLMC Pool</name>
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      <invstOrSec>
        <name>Goldman Sachs Bank USA into Delta Air Lines, Inc.</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Goldman Sachs Bank USA into Delta Air Lines, Inc.</title>
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          <isin value="US38152A2511"/>
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        <balance>1600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>103918214.91000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>American Airlines, Inc. / AAdvantage Loyalty IP Ltd.</name>
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        <title>American Airlines, Inc. / AAdvantage Loyalty IP Ltd.</title>
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          <isin value="US00253XAA90"/>
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        <balance>833333.33000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Calumet Specialty Products Partners LP / Calumet Finance Corp.</name>
        <lei>N/A</lei>
        <title>Calumet Specialty Products Partners LP / Calumet Finance Corp.</title>
        <cusip>131477AX9</cusip>
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          <isin value="US131477AX99"/>
          <other otherDesc="Inhouse Asset ID" value="1337833"/>
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        <balance>140000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>142625000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rivian Holdings LLC / Rivian LLC / Rivian Automotive LLC</name>
        <lei>N/A</lei>
        <title>Rivian Holdings LLC / Rivian LLC / Rivian Automotive LLC</title>
        <cusip>76954LAD1</cusip>
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          <isin value="US76954LAD10"/>
          <other otherDesc="Inhouse Asset ID" value="1484480"/>
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        <balance>60000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>58348518.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>AbbVie, Inc.</title>
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        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Options Clearing</counterpartyName>
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            <putOrCall>Put</putOrCall>
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            <shareNo>100.00000000</shareNo>
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      <invstOrSec>
        <name>Dell International LLC / EMC Corp.</name>
        <lei>N/A</lei>
        <title>Dell International LLC / EMC Corp.</title>
        <cusip>24703DBL4</cusip>
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          <isin value="US24703DBL47"/>
          <other otherDesc="Inhouse Asset ID" value="1233574"/>
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        <balance>40000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>41595617.60000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Co.</title>
        <cusip>694308KM8</cusip>
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          <isin value="US694308KM84"/>
          <other otherDesc="Inhouse Asset ID" value="1272038"/>
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        <balance>30000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31857604.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.40000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
        <cusip>023135106</cusip>
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          <isin value="US0231351067"/>
          <other otherDesc="Inhouse Asset ID" value="46337"/>
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        <balance>1146026.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>238682835.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG, Inc.</title>
        <cusip>92332YAD3</cusip>
        <identifiers>
          <isin value="US92332YAD31"/>
          <other otherDesc="Inhouse Asset ID" value="1305811"/>
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        <balance>185000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198778430.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.87500000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>Blackstone Private Credit Fund</name>
        <lei>549300ORP3TTCNXSYO43</lei>
        <title>Blackstone Private Credit Fund</title>
        <cusip>09261HBX4</cusip>
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          <isin value="US09261HBX44"/>
          <other otherDesc="Inhouse Asset ID" value="1439069"/>
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        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19407003.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup Global Markets Holdings, Inc. into Halliburton Co.</name>
        <lei>82VOJDD5PTRDMVVMGV31</lei>
        <title>Citigroup Global Markets Holdings, Inc. into Halliburton Co.</title>
        <cusip>17333P122</cusip>
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          <isin value="US17333P1223"/>
          <other otherDesc="Inhouse Asset ID" value="1560009"/>
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        <balance>8100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>284314195.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
        <cusip>68389XDM4</cusip>
        <identifiers>
          <isin value="US68389XDM48"/>
          <other otherDesc="Inhouse Asset ID" value="1525209"/>
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        <balance>80000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75079940.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-26</maturityDt>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp., Series D</title>
        <cusip>68389X204</cusip>
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          <isin value="US68389X2045"/>
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        <valUSD>270060000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mizuho Markets Cayman LP into Exxon Mobil Corp.</name>
        <lei>549300KHUXLS6Q30KT26</lei>
        <title>Mizuho Markets Cayman LP into Exxon Mobil Corp.</title>
        <cusip>60701E246</cusip>
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          <isin value="US60701E2467"/>
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        <balance>2225000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2026-04-07</maturityDt>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172DB2</cusip>
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          <isin value="US718172DB29"/>
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        <valUSD>25707444.25000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-15</maturityDt>
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          <annualizedRt>5.37500000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Shea Homes LP / Shea Homes Funding Corp.</name>
        <lei>N/A</lei>
        <title>Shea Homes LP / Shea Homes Funding Corp.</title>
        <cusip>82088KAJ7</cusip>
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          <isin value="US82088KAJ79"/>
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        <balance>40000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38767412.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
        <cusip>65339KCU2</cusip>
        <identifiers>
          <isin value="US65339KCU25"/>
          <other otherDesc="Inhouse Asset ID" value="1324720"/>
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        <balance>60000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60766879.20000000</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>2034-03-15</maturityDt>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ardagh Group SA</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>9.50000000</annualizedRt>
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      <invstOrSec>
        <name>Toronto-Dominion Bank (The) into United Parcel Service, Inc.</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Northrop Grumman Corp.</name>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Toronto-Dominion Bank (The) into Albemarle Corp.</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>15.00000000</annualizedRt>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co.</name>
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        <title>Bristol-Myers Squibb Co.</title>
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          <isin value="US1101221083"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60650000.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CCO Holdings LLC / CCO Holdings Capital Corp.</name>
        <lei>N/A</lei>
        <title>CCO Holdings LLC / CCO Holdings Capital Corp.</title>
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          <isin value="US1248EPCT83"/>
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        <balance>185000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>188435222.45000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>Huntsman International LLC</name>
        <lei>3YTEJFW18LGIUQ2N5J61</lei>
        <title>Huntsman International LLC</title>
        <cusip>44701QBE1</cusip>
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          <isin value="US44701QBE17"/>
          <other otherDesc="Inhouse Asset ID" value="1177818"/>
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        <balance>40000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37444162.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>General Motors Co.</name>
        <lei>54930070NSV60J38I987</lei>
        <title>General Motors Co.</title>
        <cusip>37045VAZ3</cusip>
        <identifiers>
          <isin value="US37045VAZ31"/>
          <other otherDesc="Inhouse Asset ID" value="1206339"/>
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        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25606374.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.60000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Merrill Lynch BV into UnitedHealth Group, Inc.</name>
        <lei>549300RQ1D1WIE085245</lei>
        <title>Merrill Lynch BV into UnitedHealth Group, Inc.</title>
        <cusip>59028A119</cusip>
        <identifiers>
          <isin value="US59028A1198"/>
          <other otherDesc="Inhouse Asset ID" value="1512894"/>
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        <balance>950000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>263570484.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BNP Paribas SA into Texas Instruments, Inc.</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA into Texas Instruments, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3053714757"/>
          <other otherDesc="Inhouse Asset ID" value="1487941"/>
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        <balance>1300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>252355401.35000000</valUSD>
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        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
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      <invstOrSec>
        <name>Royal Bank of Canada into Analog Devices, Inc.</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada into Analog Devices, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USC798658350"/>
          <other otherDesc="Inhouse Asset ID" value="1540873"/>
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        <balance>890000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>225767842.19000000</valUSD>
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        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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      <invstOrSec>
        <name>Post Holdings, Inc.</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings, Inc.</title>
        <cusip>737446AU8</cusip>
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          <isin value="US737446AU86"/>
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        <balance>45000000.00000000</balance>
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        <valUSD>45521505.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2032-02-15</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>Cloud Software Group, Inc.</name>
        <lei>04EEB871XLHVNY4RZJ65</lei>
        <title>Cloud Software Group, Inc.</title>
        <cusip>88632QAE3</cusip>
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        <balance>150000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>Blackstone Private Credit Fund</name>
        <lei>549300ORP3TTCNXSYO43</lei>
        <title>Blackstone Private Credit Fund</title>
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        <balance>30000000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-03-12</maturityDt>
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        <name>Calumet Specialty Products Partners LP / Calumet Finance Corp.</name>
        <lei>N/A</lei>
        <title>Calumet Specialty Products Partners LP / Calumet Finance Corp.</title>
        <cusip>131477AW1</cusip>
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        <balance>73565000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>GNMA</name>
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        <name>International Business Machines Corp.</name>
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        <name>Bausch Health Cos., Inc.</name>
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        <name>CVS Health Corp.</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>UBS AG into Marvell Technology, Inc.</name>
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        <name>Ardagh Holdings SA</name>
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        <name>Venture Global Plaquemines LNG LLC</name>
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        <name>Citigroup, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>JPMorgan Chase Bank NA into Schlumberger NV</name>
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        <name>Asurion LLC/ Asurion Co-Issuer, Inc.</name>
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        <name>Netflix, Inc.</name>
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        <name>Cleveland-Cliffs, Inc.</name>
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        <name>Asurion LLC/ Asurion Co-Issuer, Inc.</name>
        <lei>549300KNQVXGIOXWK278</lei>
        <title>Asurion LLC and Asurion Co-Issuer, Inc.</title>
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        <name>Quikrete Holdings, Inc.</name>
        <lei>5493007KIN86DIZWZT22</lei>
        <title>Quikrete Holdings, Inc.</title>
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        <name>Venture Global LNG, Inc.</name>
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        <name>Capital One Financial Corp.</name>
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      <invstOrSec>
        <name>UBS AG into Oracle Corp.</name>
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        <name>Tenet Healthcare Corp.</name>
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        <name>United Airlines Pass-Through Trust</name>
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        <name>United States of America</name>
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        <name>CHS/Community Health Systems, Inc.</name>
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        <name>BellRing Brands, Inc.</name>
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        <name>Ford Motor Co.</name>
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        <name>Ford Motor Co.</name>
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        <name>U.S. Treasury Bills</name>
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        <name>Rain Carbon, Inc.</name>
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        <name>BNP Paribas Issuance BV into Freeport-McMoRan, Inc.</name>
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        <name>Citigroup, Inc.</name>
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        <name>Medline Borrower LP</name>
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        <name>United Parcel Service, Inc.</name>
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        <name>Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp.</name>
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      <invstOrSec>
        <name>Regal Rexnord Corp.</name>
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        <title>Regal Rexnord Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cleveland-Cliffs, Inc.</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>Cleveland-Cliffs, Inc.</title>
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          <isin value="US185899AL57"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UBS AG into Texas Instruments, Inc.</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>UBS AG into Texas Instruments, Inc.</title>
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          <isin value="US90304M4776"/>
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          <annualizedRt>10.00000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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          <isin value="US17327CAU71"/>
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        <balance>30000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29318969.70000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.41100000</annualizedRt>
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      <invstOrSec>
        <name>UBS AG into Schlumberger NV</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>UBS AG into Schlumberger NV</title>
        <cusip>90304M428</cusip>
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          <isin value="US90304M4289"/>
          <other otherDesc="Inhouse Asset ID" value="1569517"/>
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        <balance>5050000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>248821410.93000000</valUSD>
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        <assetCat>SN</assetCat>
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        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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      <invstOrSec>
        <name>Raymond James Financial, Inc.</name>
        <lei>RGUZHJ05YTITL6D76949</lei>
        <title>Raymond James Financial, Inc.</title>
        <cusip>754730109</cusip>
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          <isin value="US7547301090"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>86874000.00000000</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Merrill Lynch BV into UnitedHealth Group, Inc.</name>
        <lei>549300RQ1D1WIE085245</lei>
        <title>Merrill Lynch BV into UnitedHealth Group, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2887845159"/>
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        <balance>520000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>143185594.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>10.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>J.P. Morgan Structured Products BV into Blackrock, Inc.</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Structured Products BV into Blackrock, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="1590740"/>
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        <assetCat>SN</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>RR Donnelley &amp; Sons Co.</name>
        <lei>SU4X0P4WWRGOQDTSV032</lei>
        <title>RR Donnelley &amp; Sons Co.</title>
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          <isin value="US257867BJ97"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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      <invstOrSec>
        <name>Viatris, Inc.</name>
        <lei>254900ZZTSW7NL773X71</lei>
        <title>Viatris, Inc.</title>
        <cusip>92556VAD8</cusip>
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          <isin value="US92556VAD82"/>
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        <curCd>USD</curCd>
        <valUSD>36251294.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
        <cusip>03027XBZ2</cusip>
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          <isin value="US03027XBZ24"/>
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        <balance>80000000.00000000</balance>
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        <valUSD>82711368.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-15</maturityDt>
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          <annualizedRt>5.65000000</annualizedRt>
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        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
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        <curCd>USD</curCd>
        <valUSD>75772612.30000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <annualizedRt>6.69200000</annualizedRt>
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      <invstOrSec>
        <name>CHS/Community Health Systems, Inc.</name>
        <lei>5493007X5NC5XI1BB106</lei>
        <title>CHS/Community Health Systems, Inc.</title>
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        <balance>630000000.00000000</balance>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <title>JPMorgan Chase &amp; Co.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2034-10-23</maturityDt>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, Single-family, 30 Year</title>
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        <valUSD>174390367.51000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <annualizedRt>5.50000000</annualizedRt>
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        <name>CHS/Community Health Systems, Inc.</name>
        <lei>5493007X5NC5XI1BB106</lei>
        <title>CHS/Community Health Systems, Inc.</title>
        <cusip>12543DBJ8</cusip>
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        <invCountry>US</invCountry>
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          <annualizedRt>6.87500000</annualizedRt>
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      <invstOrSec>
        <name>US Bancorp</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp</title>
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        <valUSD>47346017.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.85000000</annualizedRt>
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      <invstOrSec>
        <name>Royal Bank of Canada into BP plc</name>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
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      <invstOrSec>
        <name>Home Depot, Inc. (The)</name>
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      <invstOrSec>
        <name>U.S. Treasury Bills</name>
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      <invstOrSec>
        <name>UBS AG into Bank of America Corp.</name>
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      <invstOrSec>
        <name>United States of America</name>
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      <invstOrSec>
        <name>J.P. Morgan Structured Products BV into Home Depot, Inc. (The)</name>
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        <name>AXA SA</name>
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      <invstOrSec>
        <name>Kinder Morgan, Inc.</name>
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      <invstOrSec>
        <name>Merrill Lynch BV into Salesforce, Inc.</name>
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        <name>KKR &amp; Co., Inc.</name>
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        <name>NRG Energy, Inc.</name>
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        <name>Morgan Stanley</name>
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        <name>U.S. Treasury Bills</name>
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        <name>Venture Global Plaquemines LNG LLC</name>
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        <name>Citigroup, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Herc Holdings, Inc.</name>
        <lei>549300TP80QLITMSBP82</lei>
        <title>Herc Holdings, Inc.</title>
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        <valUSD>30767760.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>PNC Financial Services Group, Inc. (The)</name>
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        <title>PNC Financial Services Group, Inc. (The)</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>USA Compression Partners LP / USA Compression Finance Corp.</name>
        <lei>N/A</lei>
        <title>USA Compression Partners LP / USA Compression Finance Corp.</title>
        <cusip>91740PAG3</cusip>
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          <isin value="US91740PAG37"/>
          <other otherDesc="Inhouse Asset ID" value="1337640"/>
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        <balance>40000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>40950646.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</annualizedRt>
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      <invstOrSec>
        <name>Expedia Group, Inc.</name>
        <lei>N/A</lei>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Merrill Lynch BV into Procter &amp; Gamble Co. (The)</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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        <name>Vistra Operations Co. LLC</name>
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        <title>Vistra Operations Co. LLC</title>
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          <isin value="US92840VAP76"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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        <balance>50000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Barclays Bank plc into Micron Technology, Inc.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>EMRLD Borrower LP</name>
        <lei>5493000GJYE7GAQCUC61</lei>
        <title>EMRLD Borrower LP, First Lien, Second Amendment Incremental CME Term Loan</title>
        <cusip>26872NAD1</cusip>
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          <isin value="US26872NAD12"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-04</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc., First Lien, CME Term Loan, J</title>
        <cusip>89364MCA0</cusip>
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          <isin value="US89364MCA09"/>
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        <balance>19748743.71850000</balance>
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        <curCd>USD</curCd>
        <valUSD>19773627.14000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.16774000</annualizedRt>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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        <name>Cleveland-Cliffs, Inc.</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>Cleveland-Cliffs, Inc.</title>
        <cusip>185899AR2</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>Ashtead Capital, Inc.</name>
        <lei>213800J1134IW58IC398</lei>
        <title>Ashtead Capital, Inc.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
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        <balance>20000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20203110.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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      <invstOrSec>
        <name>General Motors Co.</name>
        <lei>54930070NSV60J38I987</lei>
        <title>General Motors Co.</title>
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          <other otherDesc="Inhouse Asset ID" value="673734"/>
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        <balance>140000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>131408212.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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          <isin value="US37045XEH52"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-23</maturityDt>
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          <annualizedRt>5.80000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Kedrion SpA</name>
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          <isin value="US49272YAB92"/>
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        <valUSD>48484320.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
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          <isin value="US95000U3F88"/>
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        <balance>70000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>71762863.20000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG, Inc.</title>
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          <isin value="US92332YAF88"/>
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        <balance>370000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>368827532.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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          <isin value="US629377CX83"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10087871.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KeyBank NA</name>
        <lei>HUX2X73FUCYHUVH1BK78</lei>
        <title>KeyBank NA</title>
        <cusip>49327M3F9</cusip>
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          <isin value="US49327M3F97"/>
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        <balance>50000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51062739.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.85000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Merrill Lynch BV into NIKE, Inc.</name>
        <lei>549300RQ1D1WIE085245</lei>
        <title>Merrill Lynch BV into NIKE, Inc.</title>
        <cusip>59028A234</cusip>
        <identifiers>
          <isin value="US59028A2345"/>
          <other otherDesc="Inhouse Asset ID" value="1565480"/>
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        <balance>3400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>187276484.29000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-02</maturityDt>
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          <annualizedRt>10.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Co.</title>
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          <isin value="US694308KJ55"/>
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        <balance>50000000.00000000</balance>
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        <valUSD>52309527.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CVS Health Corp.</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp.</title>
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          <isin value="US126650CY46"/>
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        <balance>61925000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>57099660.95000000</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>2038-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.78000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Caesars Entertainment, Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
        <title>Caesars Entertainment, Inc.</title>
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        <balance>129000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>124140570.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
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          <annualizedRt>4.62500000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Abbott Laboratories</title>
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          <other otherDesc="Option Ticker" value="ABT US 06/18/26 P100 Equity"/>
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        <balance>-5000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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                <issuerName>Abbott Laboratories</issuerName>
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            <shareNo>100.00000000</shareNo>
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      <invstOrSec>
        <name>Freeport-McMoRan, Inc.</name>
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      <invstOrSec>
        <name>Albemarle Corp.</name>
        <lei>HDBLS2Q6GV1LSKQPBS54</lei>
        <title>Albemarle Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Southern Co. (The)</name>
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        <title>Southern Co. (The)</title>
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        <curCd>USD</curCd>
        <valUSD>868680000.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31418FED5</cusip>
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          <isin value="US31418FED50"/>
          <other otherDesc="Inhouse Asset ID" value="1407497"/>
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        <curCd>USD</curCd>
        <valUSD>196500482.11000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Exxon Mobil Corp.</title>
        <cusip>00CC3TT12</cusip>
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          <other otherDesc="Option Ticker" value="XOM US 05/15/26 C165 Equity"/>
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        <balance>-20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-21700000.00000000</valUSD>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Options Clearing</counterpartyName>
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            <putOrCall>Call</putOrCall>
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                <issuerName>Exxon Mobil Corp.</issuerName>
                <issueTitle>Exxon Mobil Corp.</issueTitle>
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            <shareNo>100.00000000</shareNo>
            <exercisePrice>165.00000000</exercisePrice>
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      <invstOrSec>
        <name>Fortescue Treasury Pty. Ltd.</name>
        <lei>549300EFD6S2NFE9D745</lei>
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      <invstOrSec>
        <name>Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Qnity Electronics, Inc.</name>
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        <name>CHS/Community Health Systems, Inc.</name>
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      <invstOrSec>
        <name>Truist Financial Corp.</name>
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        <name>Energy Transfer LP</name>
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        <name>Clydesdale Acquisition Holdings, Inc.</name>
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        <name>Williams Cos., Inc. (The)</name>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
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      <invstOrSec>
        <name>Tronox Finance LLC</name>
        <lei>549300LMZ1DX1PWSP524</lei>
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        <invCountry>US</invCountry>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA</title>
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        <invCountry>US</invCountry>
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        <name>Fortescue Treasury Pty. Ltd.</name>
        <lei>549300EFD6S2NFE9D745</lei>
        <title>Fortescue Treasury Pty. Ltd.</title>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>Charles Schwab Corp. (The)</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp. (The)</title>
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        <invCountry>US</invCountry>
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        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>BofA Finance LLC into Albemarle Corp.</name>
        <lei>549300CGZYSEY3ZSIW16</lei>
        <title>BofA Finance LLC into Albemarle Corp.</title>
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          <other otherDesc="Inhouse Asset ID" value="1507712"/>
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        <valUSD>85947922.75000000</valUSD>
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        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
        <cusip>345397C92</cusip>
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        <balance>92000000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Morgan Stanley Finance LLC into International Business Machines Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Univision Communications, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pacific Gas and Electric Co.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VICI Properties LP / VICI Note Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-12-01</maturityDt>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
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        <title>Capital One Financial Corp.</title>
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          <isin value="US14040HCZ64"/>
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        <balance>75000000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>US Bancorp</name>
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        <balance>40000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-12</maturityDt>
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      <invstOrSec>
        <name>FHLMC Pool</name>
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        <title>FHLMC Pool, 30 Year</title>
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          <isin value="US3132DWG800"/>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>United States of America</name>
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        <title>U.S. Treasury Bonds</title>
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        <valUSD>477812500.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Tenet Healthcare Corp.</name>
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        <title>Tenet Healthcare Corp.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-06-01</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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        <name>Tronox, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>9.12500000</annualizedRt>
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        <name>Abbott Laboratories</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <title>Goldman Sachs Group, Inc. (The)</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2041-02-02</maturityDt>
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        <name>International Paper Co.</name>
        <lei>824LMFJDH41EY779Q875</lei>
        <title>International Paper Co.</title>
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      <invstOrSec>
        <name>Barclays Bank plc into Capital One Financial Corp.</name>
        <lei>N/A</lei>
        <title>Barclays Bank plc into Capital One Financial Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Medtronic plc</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>Medtronic plc</title>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Air Products and Chemicals, Inc.</name>
        <lei>7QEON6Y1RL5XR3R1W237</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <invCountry>US</invCountry>
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        <name>Boeing Co. (The)</name>
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        <name>Hilton Domestic Operating Co., Inc.</name>
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        <name>OPAL US LLC</name>
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        <name>RTX Corp.</name>
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        <name>GE HealthCare Technologies, Inc.</name>
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        <name>Beach Acquisition Bidco LLC</name>
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        <name>BX Frontier Member I LLC</name>
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        <name>Philip Morris International, Inc.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Vistra Operations Co. LLC</name>
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        <name>American Airlines, Inc. / AAdvantage Loyalty IP Ltd.</name>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <name>Comcast Corp.</name>
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        <name>Xcel Energy, Inc.</name>
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        <name>Barclays Bank plc into Microchip Technology, Inc.</name>
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        <name>United States of America</name>
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        <name>United Rentals North America, Inc.</name>
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        <name>GNMA</name>
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        <issuerCat>USGA</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States of America</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Cloud Software Group, Inc.</name>
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        <title>Cloud Software Group, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Barclays plc</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Millrose Properties, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-01</maturityDt>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Pool, 30 Year</title>
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          <isin value="US3132DWNK52"/>
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        <curCd>USD</curCd>
        <valUSD>167858589.14000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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        <name>Qnity Electronics, Inc.</name>
        <lei>254900RSUG4J9TFFZX53</lei>
        <title>Qnity Electronics, Inc.</title>
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          <isin value="US74743LAA89"/>
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        <balance>35000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35085435.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
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      <invstOrSec>
        <name>Shea Homes LP / Shea Homes Funding Corp.</name>
        <lei>N/A</lei>
        <title>Shea Homes LP / Shea Homes Funding Corp.</title>
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          <isin value="US82088KAK43"/>
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        <balance>25000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>24591662.50000000</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>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Teva Pharmaceutical Finance Netherlands III BV</name>
        <lei>5493004T21MOAFINJP35</lei>
        <title>Teva Pharmaceutical Finance Netherlands III BV</title>
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          <isin value="US88167AAR23"/>
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        <balance>30000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33575100.00000000</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>2031-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.12500000</annualizedRt>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
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        <balance>53500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>58045105.88000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.42100000</annualizedRt>
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      <invstOrSec>
        <name>US Bancorp</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp</title>
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        <curCd>USD</curCd>
        <valUSD>338065000.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Salesforce, Inc.</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>Salesforce, Inc.</title>
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          <isin value="US79466LAU89"/>
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        <balance>190000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>189480652.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-15</maturityDt>
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          <annualizedRt>5.55000000</annualizedRt>
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        <name>Newell Brands, Inc.</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
        <title>Newell Brands, Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US91282CHT18"/>
          <other otherDesc="Inhouse Asset ID" value="1286806"/>
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        <curCd>USD</curCd>
        <valUSD>1472783205.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2033-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>Medline Borrower LP / Medline Co-Issuer, Inc.</name>
        <lei>N/A</lei>
        <title>Medline Borrower LP / Medline Co-Issuer, Inc.</title>
        <cusip>58506DAA6</cusip>
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          <isin value="US58506DAA63"/>
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        <balance>75000000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2029-04-01</maturityDt>
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      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
        <cusip>345397G98</cusip>
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        <balance>80000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>82137140.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.53200000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance plc</name>
        <lei>N/A</lei>
        <title>Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance plc</title>
        <cusip>03969YAB4</cusip>
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          <isin value="US03969YAB48"/>
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        <balance>21000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19244219.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <name>Oracle Corp.</name>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>HCA, Inc.</name>
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        <name>Charles Schwab Corp. (The)</name>
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        <name>QXO, Inc.</name>
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        <name>Dow Chemical Co. (The)</name>
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        <name>United Rentals North America, Inc.</name>
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        <name>Bank of America Corp.</name>
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        <name>Celanese US Holdings LLC</name>
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        <name>Freeport-McMoRan, Inc.</name>
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        <name>Franklin Institutional U.S. Government Money Market Fund</name>
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        <name>Tenet Healthcare Corp.</name>
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        <name>Wells Fargo Bank NA into NextEra Energy, Inc.</name>
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        <title>Wells Fargo Bank NA into NextEra Energy, Inc.</title>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>Matador Resources Co.</name>
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        <name>Wells Fargo Bank NA into Amazon.com, Inc.</name>
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        <name>United Airlines Holdings, Inc.</name>
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      <invstOrSec>
        <name>FHLMC Pool</name>
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      <invstOrSec>
        <name>GNMA</name>
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        <name>Citigroup Global Markets Holdings, Inc. into International Business Machines Corp.</name>
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        <name>Weatherford International Ltd.</name>
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        <name>Lowe's Cos., Inc.</name>
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        <name>SCIH Salt Holdings, Inc.</name>
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        <name>J.P. Morgan Structured Products BV into Taiwan Semiconductor Manufacturing Co. Ltd.</name>
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        <name>HP, Inc.</name>
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        <title>HP, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>SLB Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>NRG Energy, Inc.</name>
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        <name>Lowe's Cos., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Mizuho Markets Cayman LP into Amgen, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Mineral Resources Ltd.</name>
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        <name>American Electric Power Co., Inc.</name>
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        <name>Weatherford International Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Endo Finance Holdings LP</name>
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        <name>CCO Holdings LLC / CCO Holdings Capital Corp.</name>
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        <name>NextEra Energy, Inc.</name>
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        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
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        <name>Cigna Group (The)</name>
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        <name>Royal Bank of Canada into Texas Instruments, Inc.</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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        <name>Boeing Co. (The)</name>
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        <title>Boeing Co. (The)</title>
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        <name>BNP Paribas Issuance BV into Target Corp.</name>
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      <invstOrSec>
        <name>Toronto-Dominion Bank (The) into Intel Corp.</name>
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        <title>Toronto-Dominion Bank (The) into Intel Corp.</title>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
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        <title>Wells Fargo &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Boeing Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Kinder Morgan, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Broadcom, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CCO Holdings LLC / CCO Holdings Capital Corp.</name>
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        <name>Genmab A/S / Genmab Finance LLC</name>
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        <name>BASF SE</name>
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        <invCountry>DE</invCountry>
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        <name>GNMA</name>
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        <name>Coca-Cola Co. (The)</name>
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        <name>United Airlines Pass-Through Trust</name>
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        <name>Quikrete Holdings, Inc.</name>
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        <title>Quikrete Holdings, Inc.</title>
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        <name>Carnival Corp.</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
        <title>Carnival Corp.</title>
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      <invstOrSec>
        <name>Royal Bank of Canada into NIKE, Inc.</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada into NIKE, Inc.</title>
        <cusip>78017W270</cusip>
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        <curCd>USD</curCd>
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        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
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      <invstOrSec>
        <name>Dell International LLC / EMC Corp.</name>
        <lei>N/A</lei>
        <title>Dell International LLC / EMC Corp.</title>
        <cusip>24703TAG1</cusip>
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          <isin value="US24703TAG13"/>
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        <balance>55000000.00000000</balance>
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        <valUSD>56143067.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2029-10-01</maturityDt>
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          <annualizedRt>5.30000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup Global Markets Holdings, Inc. into NextEra Energy, Inc.</name>
        <lei>82VOJDD5PTRDMVVMGV31</lei>
        <title>Citigroup Global Markets Holdings, Inc. into NextEra Energy, Inc.</title>
        <cusip>17333F769</cusip>
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        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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        <name>Procter &amp; Gamble Co. (The)</name>
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        <name>Toronto-Dominion Bank (The) into Starbucks Corp.</name>
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        <name>Wells Fargo Bank NA into CVS Health Corp.</name>
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        <name>Venture Global Calcasieu Pass LLC</name>
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        <name>Goodyear Tire &amp; Rubber Co. (The)</name>
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        <name>Sempra, Inc.</name>
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        <name>Boeing Co. (The)</name>
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        <name>LPL Financial Holdings, Inc.</name>
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        <name>DaVita, Inc.</name>
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        <name>Clydesdale Acquisition Holdings, Inc.</name>
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        <name>Merrill Lynch BV into Charles Schwab Corp. (The)</name>
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        <name>Hilcorp Energy I LP / Hilcorp Finance Co.</name>
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        <name>Venture Global Plaquemines LNG LLC</name>
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        <title>Venture Global Plaquemines LNG LLC</title>
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        <name>Microsoft Corp.</name>
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        <name>Southern Co. (The)</name>
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        <name>Bank of America Corp.</name>
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        <name>Ford Motor Co.</name>
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        <name>Charles Schwab Corp. (The)</name>
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        <name>FHLMC Pool</name>
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        <name>Mineral Resources Ltd.</name>
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        <name>Mizuho Markets Cayman LP into Dell Technologies, Inc.</name>
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        <name>Toronto-Dominion Bank (The) into Target Corp.</name>
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        <invCountry>CA</invCountry>
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        <name>Connect Holding II LLC</name>
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          <annualizedRt>10.50000000</annualizedRt>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <curCd>USD</curCd>
        <valUSD>44222495.85000000</valUSD>
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        <name>Matador Resources Co.</name>
        <lei>549300CI3Q2UUK5R4G79</lei>
        <title>Matador Resources Co.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>Morgan Stanley Finance LLC into JPMorgan Chase &amp; Co.</name>
        <lei>5493003FCPSE9RKT4B56</lei>
        <title>Morgan Stanley Finance LLC into JPMorgan Chase &amp; Co.</title>
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        <invCountry>US</invCountry>
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        <name>Mizuho Markets Cayman LP into Meta Platforms, Inc.</name>
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        <name>General Motors Financial Co., Inc.</name>
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        <name>DaVita, Inc.</name>
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        <name>FNMA</name>
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        <name>American Express Co.</name>
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        <name>Honeywell International, Inc.</name>
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        <name>Netflix, Inc.</name>
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        <title>Netflix, Inc.</title>
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        <name>U.S. Treasury Bills</name>
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        <name>TransDigm, Inc.</name>
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        <name>Medline Borrower LP</name>
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        <name>N/A</name>
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        <title>Exxon Mobil Corp.</title>
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        <name>Textron, Inc.</name>
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        <name>Lowe's Cos., Inc.</name>
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        <title>Lowe's Cos., Inc.</title>
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        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
        <title>Venture Global LNG, Inc.</title>
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        <name>Stagwell Global LLC</name>
        <lei>984500904E015Z0C1F82</lei>
        <title>Stagwell Global LLC</title>
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        <name>US Bancorp</name>
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        <name>Southern Co. (The)</name>
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        <name>UBS AG into Marvell Technology, Inc.</name>
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        <name>Mauser Packaging Solutions Holding Co.</name>
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        <name>Venture Global LNG, Inc.</name>
        <lei>54930011XLBUWMQUC829</lei>
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      <invstOrSec>
        <name>NRG Energy, Inc.</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>6.50000000</annualizedRt>
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        <name>Teva Pharmaceutical Finance Netherlands III BV</name>
        <lei>5493004T21MOAFINJP35</lei>
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          <isin value="US88167AAK79"/>
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        <balance>26000000.00000000</balance>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
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      <invstOrSec>
        <name>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-02-01</maturityDt>
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      <invstOrSec>
        <name>NCL Corp. Ltd.</name>
        <lei>UNZWILHE4KMRP9K2L524</lei>
        <title>NCL Corp. Ltd.</title>
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          <isin value="US62886HBR12"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-01</maturityDt>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
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          <isin value="US9078181081"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JetBlue Airways Corp. / JetBlue Loyalty LP</name>
        <lei>N/A</lei>
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          <isin value="US476920AA15"/>
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        <balance>230000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>217676218.20000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Cleveland-Cliffs, Inc.</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>Cleveland-Cliffs, Inc.</title>
        <cusip>18589GAA3</cusip>
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          <isin value="US18589GAA31"/>
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        <curCd>USD</curCd>
        <valUSD>59652976.04000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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      <invstOrSec>
        <name>Ashtead Capital, Inc.</name>
        <lei>213800J1134IW58IC398</lei>
        <title>Ashtead Capital, Inc.</title>
        <cusip>045054AQ6</cusip>
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          <isin value="US045054AQ67"/>
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        <balance>25000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25256210.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.55000000</annualizedRt>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <balance>155000000.00000000</balance>
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        <valUSD>160521854.85000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-25</maturityDt>
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          <annualizedRt>6.17400000</annualizedRt>
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        <name>Cleveland-Cliffs, Inc.</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>Cleveland-Cliffs, Inc.</title>
        <cusip>185899AP6</cusip>
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          <isin value="US185899AP61"/>
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        <balance>97000000.00000000</balance>
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        <valUSD>93973823.10000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.00000000</annualizedRt>
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        <name>DaVita, Inc.</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DaVita, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Caesars Entertainment, Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
        <title>Caesars Entertainment, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Sempra, Inc.</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra, Inc.</title>
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        <name>Regal Rexnord Corp.</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
        <title>Regal Rexnord Corp.</title>
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        <balance>25000000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.30000000</annualizedRt>
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        <name>Ardagh Holdings SA</name>
        <lei>549300ORV6YW6ESSNQ21</lei>
        <title>Ardagh Holdings SA</title>
        <cusip>985923101</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Royal Caribbean Cruises Ltd.</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>Royal Caribbean Cruises Ltd.</title>
        <cusip>780153BG6</cusip>
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        <valUSD>50582275.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mauser Packaging Solutions Holding Co.</name>
        <lei>549300DNGHXL0OMHW304</lei>
        <title>Mauser Packaging Solutions Holding Co.</title>
        <cusip>57763RAF4</cusip>
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        <balance>250000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>232494450.00000000</valUSD>
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        <name>Clear Channel Outdoor Holdings, Inc.</name>
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        <name>Tenet Healthcare Corp.</name>
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        <name>CHS/Community Health Systems, Inc.</name>
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        <name>J.P. Morgan Structured Products BV into Amazon.com, Inc.</name>
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        <name>Toronto-Dominion Bank (The) into Medtronic plc</name>
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        <name>Alcoa Nederland Holding BV</name>
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        <name>United Rentals North America, Inc.</name>
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        <name>Mizuho Markets Cayman LP into Microsoft Corp.</name>
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      <invstOrSec>
        <name>BofA Finance LLC into Comcast Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wynn Resorts Finance LLC / Wynn Resorts Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>1261229 BC Ltd.</name>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-15</maturityDt>
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      <invstOrSec>
        <name>Ashtead Capital, Inc.</name>
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        <title>Ashtead Capital, Inc.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>McDonald's Corp.</name>
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        <title>McDonald's Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Cheniere Energy Partners LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Southern Co. (The)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Franklin Institutional U.S. Government Money Market Fund</name>
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        <title>Franklin Institutional U.S. Government Money Market Fund</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Fertitta Entertainment LLC / Fertitta Entertainment Finance Co., Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Vistra Operations Co. LLC</name>
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        <title>Vistra Operations Co. LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Tronox, Inc.</name>
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        <name>Mizuho Markets Cayman LP into Analog Devices, Inc.</name>
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        <invCountry>KY</invCountry>

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        <name>KB Home</name>
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        <name>Tenet Healthcare Corp.</name>
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        <title>Tenet Healthcare Corp.</title>
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        <name>Wells Fargo &amp; Co.</name>
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        <title>Wells Fargo &amp; Co.</title>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>BAT Capital Corp.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Clarion Partners Real Estate Income Fund, Inc.</name>
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        <name>Dominion Energy, Inc.</name>
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        <name>Oracle Corp.</name>
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        <name>Cogent Communications Group LLC / Cogent Finance, Inc.</name>
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        <name>Citigroup, Inc.</name>
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        <name>ARC Falcon I, Inc. / Arclin USA LLC / New Arclin US Holding Corp.</name>
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        <name>Dell Technologies, Inc.</name>
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        <name>Toronto-Dominion Bank (The) into QUALCOMM, Inc.</name>
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        <name>Quikrete Holdings, Inc.</name>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
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        <name>NRG Energy, Inc.</name>
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        <name>Celanese US Holdings LLC</name>
        <lei>CD30XVRLT4QO00B1C706</lei>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <name>Royal Bank of Canada into Oracle Corp.</name>
        <lei>N/A</lei>
        <title>Royal Bank of Canada into Oracle Corp.</title>
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        <name>Mauser Packaging Solutions Holding Co.</name>
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        <name>Royal Bank of Canada into Microsoft Corp.</name>
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        <name>Hologic, Inc.</name>
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        <name>Barclays plc</name>
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        <name>United States of America</name>
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        <name>Merrill Lynch BV into Halliburton Co.</name>
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        <name>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
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        <name>Lockheed Martin Corp.</name>
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        <name>Medline Borrower LP</name>
        <lei>254900QT3R363TVK6F09</lei>
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        <name>Energy Transfer LP</name>
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        <name>Nestle SA</name>
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        <name>Lowe's Cos., Inc.</name>
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        <name>American Airlines, Inc. / AAdvantage Loyalty IP Ltd.</name>
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        <name>Wells Fargo Bank NA into Starbucks Corp.</name>
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        <name>Texas Instruments, Inc.</name>
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        <name>Ares Management Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Organon &amp; Co. / Organon Foreign Debt Co-Issuer BV</name>
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        <name>Truist Financial Corp.</name>
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        <name>TransDigm, Inc.</name>
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        <name>Centene Corp.</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>Centene Corp.</title>
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        <name>Humana, Inc.</name>
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        <title>Humana, Inc.</title>
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        <name>Beach Acquisition Bidco LLC</name>
        <lei>254900F2FNX3GBTB6202</lei>
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        <name>CHS/Community Health Systems, Inc.</name>
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        <name>HCA, Inc.</name>
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        <name>Ally Financial, Inc.</name>
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        <name>Caesars Entertainment, Inc.</name>
        <lei>549300FA4CTCW903Y781</lei>
        <title>Caesars Entertainment, Inc.</title>
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        <name>Citigroup Global Markets Holdings, Inc. into Microsoft Corp.</name>
        <lei>82VOJDD5PTRDMVVMGV31</lei>
        <title>Citigroup Global Markets Holdings, Inc. into Microsoft Corp.</title>
        <cusip>17333Q153</cusip>
        <identifiers>
          <isin value="US17333Q1537"/>
          <other otherDesc="Inhouse Asset ID" value="1588683"/>
        </identifiers>
        <balance>860000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>329596994.51000000</valUSD>
        <pctVal>0.419173355831</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.00000000</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>MPH Acquisition Holdings LLC</name>
        <lei>5493002WXOPRPTXWTU06</lei>
        <title>MPH Acquisition Holdings LLC, First Lien, Exchange First Out CME Term Loan</title>
        <cusip>55328HAP6</cusip>
        <identifiers>
          <isin value="US55328HAP64"/>
          <other otherDesc="Inhouse Asset ID" value="1436218"/>
        </identifiers>
        <balance>30148198.74080000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30140661.69000000</valUSD>
        <pctVal>0.038332152653</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-31</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.41684000</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>Goldman Sachs Bank USA into Home Depot, Inc. (The)</name>
        <lei>KD3XUN7C6T14HNAYLU02</lei>
        <title>Goldman Sachs Bank USA into Home Depot, Inc. (The)</title>
        <cusip>38151L506</cusip>
        <identifiers>
          <isin value="US38151L5066"/>
          <other otherDesc="Inhouse Asset ID" value="1471301"/>
        </identifiers>
        <balance>850000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>287664402.57000000</valUSD>
        <pctVal>0.365844516142</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</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>TransDigm, Inc.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm, Inc.</title>
        <cusip>893647BY2</cusip>
        <identifiers>
          <isin value="US893647BY22"/>
          <other otherDesc="Inhouse Asset ID" value="1473027"/>
        </identifiers>
        <balance>30000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>29863749.00000000</valUSD>
        <pctVal>0.037979981900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
        <lei>549300TPZNMN50BJ3745</lei>
        <title>Charter Communications Operating LLC, First Lien, CME Term Loan B5</title>
        <cusip>16117LCE7</cusip>
        <identifiers>
          <isin value="US16117LCE74"/>
          <other otherDesc="Inhouse Asset ID" value="1421096"/>
        </identifiers>
        <balance>19750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>19771033.75000000</valUSD>
        <pctVal>0.025144314733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.91078000</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>Toronto-Dominion Bank (The) into Lowe's Cos., Inc.</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank (The) into Lowe's Cos., Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2990363751"/>
          <other otherDesc="Inhouse Asset ID" value="1503289"/>
        </identifiers>
        <balance>1255000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>291067642.79000000</valUSD>
        <pctVal>0.370172673399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>SN</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</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>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
        <cusip>06738ECE3</cusip>
        <identifiers>
          <isin value="US06738ECE32"/>
          <other otherDesc="Inhouse Asset ID" value="1221362"/>
        </identifiers>
        <balance>65000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>72709623.35000000</valUSD>
        <pctVal>0.092470311709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.43700000</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>N/A</name>
        <lei>N/A</lei>
        <title>PepsiCo, Inc.</title>
        <cusip>00CBRUHF7</cusip>
        <identifiers>
          <isin value="US00CBRUHF77"/>
          <other otherDesc="Inhouse Asset ID" value="1576722"/>
          <other otherDesc="Option Ticker" value="PEP US 06/18/26 C185 Equity"/>
        </identifiers>
        <balance>-5000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-345000.00000000</valUSD>
        <pctVal>-0.00043876251</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Options Clearing</counterpartyName>
              <counterpartyLei>549300CII6SLYGKNHA04</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>PepsiCo, Inc.</issuerName>
                <issueTitle>PepsiCo, Inc.</issueTitle>
                <identifiers>
                  <cusip value="713448108"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>185.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-06-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>789181.25000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Custodian Funds</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
