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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United Technologies Corp.</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>United Technologies Corp.</title>
        <cusip>913017CU1</cusip>
        <identifiers>
          <isin value="XS1822301203"/>
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        <balance>395000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
        <valUSD>453635.54000000</valUSD>
        <pctVal>0.091740300010</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.15000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Evergy Inc.</name>
        <lei>549300PGTHDQY6PSUI61</lei>
        <title>Evergy Inc.</title>
        <cusip>30034WAB2</cusip>
        <identifiers>
          <isin value="US30034WAB28"/>
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        <balance>480000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>494097.60000000</valUSD>
        <pctVal>0.099923083756</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
        <cusip>404280BR9</cusip>
        <identifiers>
          <isin value="US404280BR94"/>
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        <balance>255000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>257922.30000000</valUSD>
        <pctVal>0.052160527769</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.69175000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
        <cusip>20030NCG4</cusip>
        <identifiers>
          <isin value="US20030NCG43"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12005.10000000</valUSD>
        <pctVal>0.002427833312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.04900000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ABN AMRO Bank NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO Bank NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS0937858271"/>
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        <balance>1025000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
        <valUSD>1236878.75000000</valUSD>
        <pctVal>0.250138310595</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-11-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac Pool</name>
        <lei>N/A</lei>
        <title>Freddie Mac Pool</title>
        <cusip>3132DV4V4</cusip>
        <identifiers>
          <isin value="US3132DV4V45"/>
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        <balance>4846518.03000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4998650.23000000</valUSD>
        <pctVal>1.010894498583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chesapeake Funding II LLC</name>
        <lei>5493000HT7H4OFOD6Z12</lei>
        <title>Chesapeake Funding II LLC</title>
        <cusip>165183BN3</cusip>
        <identifiers>
          <isin value="US165183BN36"/>
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        <balance>579579.22000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>588887.26000000</valUSD>
        <pctVal>0.119092727842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.23000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SBA Tower Trust</name>
        <lei>N/A</lei>
        <title>SBA Tower Trust</title>
        <cusip>78403DAK6</cusip>
        <identifiers>
          <isin value="US78403DAK63"/>
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        <balance>885000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>894080.10000000</valUSD>
        <pctVal>0.180812942053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Charter Communications Operating LLC / Charter Communications Operating Capital</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC / Charter Communications Operating Capital</title>
        <cusip>161175AZ7</cusip>
        <identifiers>
          <isin value="US161175AZ73"/>
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        <balance>305000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>402185.20000000</valUSD>
        <pctVal>0.081335318012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.38400000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac REMICS</name>
        <lei>N/A</lei>
        <title>Freddie Mac REMICS</title>
        <cusip>3137AX6T5</cusip>
        <identifiers>
          <isin value="US3137AX6T55"/>
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        <balance>1331164.99000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1331590.96000000</valUSD>
        <pctVal>0.269292291696</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nexity SA</name>
        <lei>969500JJ71T2DIPDVV84</lei>
        <title>Nexity SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0010112524"/>
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        <balance>85524.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
        <valUSD>3957442.27000000</valUSD>
        <pctVal>0.800327375417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Otis Worldwide Corp.</name>
        <lei>549300ZLBKR8VSU25153</lei>
        <title>Otis Worldwide Corp.</title>
        <cusip>68902VAB3</cusip>
        <identifiers>
          <isin value="US68902VAB36"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>258657.50000000</valUSD>
        <pctVal>0.052309209833</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.36200000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Oglethorpe Power Corp.</name>
        <lei>3EERXCUSWMS9GV5D9M98</lei>
        <title>Oglethorpe Power Corp.</title>
        <cusip>677050AH9</cusip>
        <identifiers>
          <isin value="US677050AH96"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>311447.50000000</valUSD>
        <pctVal>0.062985115953</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Broadcom Corp. / Broadcom Cayman Finance Ltd.</name>
        <lei>N/A</lei>
        <title>Broadcom Corp. / Broadcom Cayman Finance Ltd.</title>
        <cusip>11134LAH2</cusip>
        <identifiers>
          <isin value="US11134LAH24"/>
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        <balance>665000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>697478.60000000</valUSD>
        <pctVal>0.141053533889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GreatAmerica Leasing Receivables Funding LLC Series 2018-1</name>
        <lei>N/A</lei>
        <title>GreatAmerica Leasing Receivables Funding LLC Series 2018-1</title>
        <cusip>39154TAQ1</cusip>
        <identifiers>
          <isin value="US39154TAQ13"/>
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        <balance>173915.74000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>174522.71000000</valUSD>
        <pctVal>0.035294337330</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Seasoned Credit Risk Transfer Trust Series 2018-4</name>
        <lei>N/A</lei>
        <title>Seasoned Credit Risk Transfer Trust Series 2018-4</title>
        <cusip>35563PHF9</cusip>
        <identifiers>
          <isin value="US35563PHF99"/>
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        <balance>234841.35000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>246834.70000000</valUSD>
        <pctVal>0.049918243687</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>
      <invstOrSec>
        <name>ABN AMRO Bank NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO Bank NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0011540547"/>
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        <balance>256119.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
        <valUSD>3512790.65000000</valUSD>
        <pctVal>0.710403924933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Corp Nacional del Cobre de Chile</name>
        <lei>549300UVMBCBCIPSUI70</lei>
        <title>Corp Nacional del Cobre de Chile</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USP3143NAY06"/>
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        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>864375.92000000</valUSD>
        <pctVal>0.174805761961</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CPUK Finance Ltd.</name>
        <lei>6354003CVDDPNXREIR29</lei>
        <title>CPUK Finance Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1240177342"/>
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        <balance>1200000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-08-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.58800000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Goldman Sachs Group Inc.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc.</title>
        <cusip>38141GWV2</cusip>
        <identifiers>
          <isin value="US38141GWV21"/>
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        <balance>235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>258185.10000000</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>2029-04-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.81400000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>National Australia Bank Ltd.</name>
        <lei>F8SB4JFBSYQFRQEH3Z21</lei>
        <title>National Australia Bank Ltd.</title>
        <cusip>632525AS0</cusip>
        <identifiers>
          <isin value="US632525AS04"/>
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        <balance>850000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>918535.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-02</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.93300000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Iberdrola SA</name>
        <lei>5QK37QC7NWOJ8D7WVQ45</lei>
        <title>Iberdrola SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ES0144580Y14"/>
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        <balance>195071.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
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        <pctVal>0.451634127050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>British Telecommunications plc</name>
        <lei>549300OWFMSO9NYV4H90</lei>
        <title>British Telecommunications plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1720922415"/>
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        <balance>1475000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="1.28216634"/>
        <valUSD>2035842.69000000</valUSD>
        <pctVal>0.411715579328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FirstEnergy Corp.</name>
        <lei>549300SVYJS666PQJH88</lei>
        <title>FirstEnergy Corp.</title>
        <cusip>337932AH0</cusip>
        <identifiers>
          <isin value="US337932AH00"/>
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        <balance>825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>912103.50000000</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>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Shell International Finance BV</name>
        <lei>213800ITMMKU4Z7I4F78</lei>
        <title>Shell International Finance BV</title>
        <cusip>822582BQ4</cusip>
        <identifiers>
          <isin value="US822582BQ44"/>
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        <balance>425000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503030.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AT&amp;T Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc.</title>
        <cusip>00206REF5</cusip>
        <identifiers>
          <isin value="XS1629866432"/>
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        <balance>250000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
        <valUSD>334270.37000000</valUSD>
        <pctVal>0.067600664684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac Pool</name>
        <lei>N/A</lei>
        <title>Freddie Mac Pool</title>
        <cusip>3132DV4R3</cusip>
        <identifiers>
          <isin value="US3132DV4R33"/>
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        <balance>1259127.15000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1328882.79000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1716248197"/>
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        <balance>1500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="1.28216634"/>
        <valUSD>1960398.82000000</valUSD>
        <pctVal>0.396458301938</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.25600000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Veolia Environnement SA</name>
        <lei>969500LENY69X51OOT31</lei>
        <title>Veolia Environnement SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0012663169"/>
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        <balance>400000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
        <valUSD>488320.37000000</valUSD>
        <pctVal>0.098754734351</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.59000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sprint Spectrum Co. LLC / Sprint Spectrum Co. II LLC / Sprint Spectrum Co. III LLC</name>
        <lei>N/A</lei>
        <title>Sprint Spectrum Co LLC / Sprint Spectrum Co II LLC / Sprint Spectrum Co III LLC</title>
        <cusip>85208NAD2</cusip>
        <identifiers>
          <isin value="US85208NAD21"/>
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        <balance>1100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1178793.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.73800000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Seasoned Credit Risk Transfer Trust Series 2019-3</name>
        <lei>N/A</lei>
        <title>Seasoned Credit Risk Transfer Trust Series 2019-3</title>
        <cusip>35563PLH0</cusip>
        <identifiers>
          <isin value="US35563PLH00"/>
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        <balance>372010.48000000</balance>
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        <curCd>USD</curCd>
        <valUSD>394885.40000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>American International Group Inc.</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group Inc.</title>
        <cusip>026874DN4</cusip>
        <identifiers>
          <isin value="US026874DN40"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>743717.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RCI Banque SA</name>
        <lei>96950001WI712W7PQG45</lei>
        <title>RCI Banque SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0013241361"/>
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        <balance>575000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
        <valUSD>643489.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Credit Suisse Group AG</name>
        <lei>549300506SI9CRFV9Z86</lei>
        <title>Credit Suisse Group AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CH0343366842"/>
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        <balance>600000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hess Corp.</name>
        <lei>UASVRYNXNK17ULIGK870</lei>
        <title>Hess Corp.</title>
        <cusip>023551AJ3</cusip>
        <identifiers>
          <isin value="US023551AJ38"/>
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        <balance>515000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>685835.80000000</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>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
        <cusip>20030NAK7</cusip>
        <identifiers>
          <isin value="US20030NAK72"/>
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        <balance>775000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1168552.75000000</valUSD>
        <pctVal>0.236320504921</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dignity Health</name>
        <lei>TFVG45LTYVO3XKPZWP18</lei>
        <title>Dignity Health California GO</title>
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          <isin value="US254010AB73"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-11-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Broadcom Corp. / Broadcom Cayman Finance Ltd.</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-01-15</maturityDt>
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          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>Providence St Joseph Health Obligated Group</name>
        <lei>N/A</lei>
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          <isin value="US743756AE88"/>
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        <balance>245000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-10-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NextEra Energy Capital Holdings Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings Inc.</title>
        <cusip>65339KBJ8</cusip>
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          <isin value="US65339KBJ88"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-01</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
        <cusip>68389XBQ7</cusip>
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          <isin value="US68389XBQ79"/>
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        <balance>265000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Telefonica Emisiones SA</name>
        <lei>549300Y5MFC4SW5Z3K71</lei>
        <title>Telefonica Emisiones SA</title>
        <cusip>87938WAV5</cusip>
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        <balance>1070000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-03-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.66500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vinci SA</name>
        <lei>213800WFQ334R8UXUG83</lei>
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        <cusip>N/A</cusip>
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          <isin value="FR0000125486"/>
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        <balance>44445.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CommonSpirit Health</name>
        <lei>4SXHN5XW08IBO0UG2V58</lei>
        <title>Catholic Health Initiatives Colorado GO</title>
        <cusip>14916RAF1</cusip>
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          <isin value="US14916RAF10"/>
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        <balance>895000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-08-01</maturityDt>
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          <annualizedRt>4.20000000</annualizedRt>
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      <invstOrSec>
        <name>FedEx Corp.</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FedEx Corp.</title>
        <cusip>31428XBE5</cusip>
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          <isin value="US31428XBE58"/>
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        <balance>187000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>207914.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc.</title>
        <cusip>172967LS8</cusip>
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        <balance>1930000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2086986.20000000</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>2028-10-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.52000000</annualizedRt>
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        <name>State of Connecticut</name>
        <lei>5493007GRO6CU0IKP741</lei>
        <title>State of Connecticut</title>
        <cusip>20772GE79</cusip>
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        <balance>250000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-15</maturityDt>
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          <annualizedRt>5.77000000</annualizedRt>
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        <name>Otis Worldwide Corp.</name>
        <lei>549300ZLBKR8VSU25153</lei>
        <title>Otis Worldwide Corp.</title>
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        <name>State Grid Overseas Investment 2016 Ltd.</name>
        <lei>3003006V8BHG5158QO96</lei>
        <title>State Grid Overseas Investment 2016 Ltd.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

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        <name>FMC Corp.</name>
        <lei>CKDHZ2X64EEBQCSP7013</lei>
        <title>FMC Corp.</title>
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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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        <name>Allergan Funding SCS</name>
        <lei>222100FLFVOSKCBCAR54</lei>
        <title>Allergan Funding SCS</title>
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        <balance>550000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.80000000</annualizedRt>
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      <invstOrSec>
        <name>Qatar Government International Bond</name>
        <lei>52990074F6OJOAXK4P65</lei>
        <title>Qatar Government International Bond</title>
        <cusip>74727PAY7</cusip>
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        <balance>285000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>QA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dominion Energy Inc.</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>Dominion Energy Inc.</title>
        <cusip>25746UDA4</cusip>
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        <balance>125000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-08-15</maturityDt>
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        <name>Enterprise Fleet Financing LLC</name>
        <lei>RKWYUSIDZTWNAX1D9U96</lei>
        <title>Enterprise Fleet Financing LLC</title>
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        <balance>399383.22000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Fidelity National Information Services Inc.</name>
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        <name>City of Montreal Canada</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
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        <name>Temasek Financial I Ltd.</name>
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        <name>Cargill Inc.</name>
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        <name>Fannie Mae Pool</name>
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      <invstOrSec>
        <name>Orange SA</name>
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        <invCountry>FR</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac REMICS</name>
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          <maturityDt>2040-08-15</maturityDt>
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        <name>Simon Property Group LP</name>
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        <name>Credit Mutuel Arkea SA</name>
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        <name>Isuzu Motors Ltd.</name>
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        <name>Conagra Brands Inc.</name>
        <lei>54930035UDEIH090K650</lei>
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        <name>AstraZeneca plc</name>
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        <name>Merck &amp; Co. Inc.</name>
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        <name>Verizon Communications Inc.</name>
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        <name>Ford Auto Securitization Trust</name>
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        <name>Georgia Power Co.</name>
        <lei>D981X4Z4RWS7PDMJUZ03</lei>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
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          <isin value="XS0543758246"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-09-23</maturityDt>
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      <invstOrSec>
        <name>AutoZone Inc.</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
        <title>AutoZone Inc.</title>
        <cusip>053332AT9</cusip>
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          <isin value="US053332AT96"/>
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        <curCd>USD</curCd>
        <valUSD>450474.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae Pool</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418DMJ8</cusip>
        <identifiers>
          <isin value="US31418DMJ80"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>567743.00000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>Cigna Corp.</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Corp.</title>
        <cusip>125523AH3</cusip>
        <identifiers>
          <isin value="US125523AH38"/>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>494033.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>CommonSpirit Health</name>
        <lei>4SXHN5XW08IBO0UG2V58</lei>
        <title>COMMONSPIRIT HEALTH</title>
        <cusip>20268JAB9</cusip>
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          <isin value="US20268JAB98"/>
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        <balance>145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>153672.45000000</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>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.34700000</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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          <isin value="US06051GHM42"/>
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        <curCd>USD</curCd>
        <valUSD>1677394.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.27100000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SBA Tower Trust</name>
        <lei>N/A</lei>
        <title>SBA Tower Trust</title>
        <cusip>78403DAM2</cusip>
        <identifiers>
          <isin value="US78403DAM20"/>
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        <balance>755000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>796328.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.44800000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>General Motors Co.</name>
        <lei>54930070NSV60J38I987</lei>
        <title>General Motors Co.</title>
        <cusip>37045VAS9</cusip>
        <identifiers>
          <isin value="US37045VAS97"/>
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        <balance>1095000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1197524.85000000</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>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AstraZeneca plc</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>AstraZeneca plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0009895292"/>
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        <balance>39578.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="1.28216634"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States Treasury Note/Bond</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>912828YS3</cusip>
        <identifiers>
          <isin value="US912828YS30"/>
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        <balance>1265000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1335764.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Trinity Acquisition plc</name>
        <lei>549300FJZWZN6MJNGB63</lei>
        <title>Trinity Acquisition plc</title>
        <cusip>89641UAC5</cusip>
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          <isin value="US89641UAC53"/>
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        <balance>888000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1000136.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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        <name>Standard Chartered plc</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>Standard Chartered plc</title>
        <cusip>N/A</cusip>
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          <isin value="GB0004082847"/>
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        <balance>449292.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Freddie Mac Pool</name>
        <lei>N/A</lei>
        <title>Freddie Mac Pool</title>
        <cusip>31339UZL7</cusip>
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          <isin value="US31339UZL78"/>
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        <balance>228310.35000000</balance>
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        <curCd>USD</curCd>
        <valUSD>232301.21000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Oglethorpe Power Corp.</name>
        <lei>3EERXCUSWMS9GV5D9M98</lei>
        <title>Oglethorpe Power Corp.</title>
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        <balance>20000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
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        <name>AT&amp;T Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T 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>2037-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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        <name>PPL Capital Funding Inc.</name>
        <lei>549300MROK5WY0D2NU17</lei>
        <title>PPL Capital Funding 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>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
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      <invstOrSec>
        <name>Fox Corp.</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>Fox Corp.</title>
        <cusip>35137LAB1</cusip>
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          <isin value="US35137LAB18"/>
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        <balance>145000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>157058.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.03000000</annualizedRt>
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      <invstOrSec>
        <name>Philip Morris International Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International Inc.</title>
        <cusip>718172BH1</cusip>
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          <isin value="XS1040105980"/>
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        <balance>500000.00000000</balance>
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        <valUSD>630704.66000000</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>2026-03-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>681142.00000000</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>2039-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Broadcom Inc.</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom Inc.</title>
        <cusip>11135FAE1</cusip>
        <identifiers>
          <isin value="US11135FAE16"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>64775.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bay Area Toll Authority</name>
        <lei>5493001FUZGUQMIP5D78</lei>
        <title>Bay Area Toll Authority California Toll Bridge Revenue (San Francisco Bay Area)</title>
        <cusip>072024WS7</cusip>
        <identifiers>
          <isin value="US072024WS78"/>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>201058.00000000</valUSD>
        <pctVal>0.040660661727</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.57400000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United Airlines 2018-1 Class B Pass Through Trust</name>
        <lei>N/A</lei>
        <title>United Airlines 2018-1 Class B Pass Through Trust</title>
        <cusip>90932NAA1</cusip>
        <identifiers>
          <isin value="US90932NAA19"/>
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        <balance>68912.32000000</balance>
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        <curCd>USD</curCd>
        <valUSD>73161.45000000</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>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Note/Bond</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>912810SH2</cusip>
        <identifiers>
          <isin value="US912810SH23"/>
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        <balance>370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>474121.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>94974BGL8</cusip>
        <identifiers>
          <isin value="US94974BGL80"/>
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        <balance>325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>365342.25000000</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>2027-07-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp.</title>
        <cusip>05526DAZ8</cusip>
        <identifiers>
          <isin value="US05526DAZ87"/>
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        <balance>675000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>708297.75000000</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>2024-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.22200000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>N/A</lei>
        <title>Freddie Mac Gold Pool</title>
        <cusip>3132VLPD3</cusip>
        <identifiers>
          <isin value="US3132VLPD35"/>
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        <balance>139996.06000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>148258.63000000</valUSD>
        <pctVal>0.029982860680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co.</title>
        <cusip>842400GN7</cusip>
        <identifiers>
          <isin value="US842400GN73"/>
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        <balance>30000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32834.40000000</valUSD>
        <pctVal>0.006640215417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fannie Mae or Freddie Mac</name>
        <lei>N/A</lei>
        <title>Fannie Mae or Freddie Mac</title>
        <cusip>01F022634</cusip>
        <identifiers>
          <isin value="US01F0226344"/>
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        <balance>6900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7041243.00000000</valUSD>
        <pctVal>1.423975170171</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Madison Park Funding XVIII Ltd.</name>
        <lei>N/A</lei>
        <title>Madison Park Funding XVIII Ltd.</title>
        <cusip>55819BAL4</cusip>
        <identifiers>
          <isin value="US55819BAL45"/>
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        <balance>875000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>873431.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-21</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.00913000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Discover Bank</name>
        <lei>X05BVSK68TQ7YTOSNR22</lei>
        <title>Discover Bank</title>
        <cusip>25466AAD3</cusip>
        <identifiers>
          <isin value="US25466AAD37"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>751058.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FedEx Corp.</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FedEx Corp.</title>
        <cusip>31428XBB1</cusip>
        <identifiers>
          <isin value="US31428XBB10"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>66868.10000000</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>2045-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>International Paper Co.</name>
        <lei>824LMFJDH41EY779Q875</lei>
        <title>International Paper Co.</title>
        <cusip>460146CS0</cusip>
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          <isin value="US460146CS07"/>
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        <balance>475000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>524870.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cleco Corporate Holdings LLC</name>
        <lei>5493002H80P81B3HXL31</lei>
        <title>Cleco Corporate Holdings LLC</title>
        <cusip>18551QAA5</cusip>
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          <isin value="US18551QAA58"/>
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        <balance>270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>281593.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Syngenta Finance NV</name>
        <lei>54930042S3BYCEGOCN86</lei>
        <title>Syngenta Finance NV</title>
        <cusip>87164KAC8</cusip>
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          <isin value="US87164KAC80"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>451092.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.18200000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SOCGEN 1 04/01/22</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1538867760"/>
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        <balance>600000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
        <valUSD>674559.09000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>61761J3R8</cusip>
        <identifiers>
          <isin value="US61761J3R84"/>
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        <balance>2100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2229465.00000000</valUSD>
        <pctVal>0.450872495490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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        <name>BPCE SA</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>WEA Finance LLC</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Freddie Mac Pool</name>
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        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2049-12-01</maturityDt>
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      <invstOrSec>
        <name>Anheuser-Busch InBev Worldwide Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-04-15</maturityDt>
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        <name>European Investment Bank</name>
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        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Municipal Electric Authority of Georgia</name>
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          <maturityDt>2057-04-01</maturityDt>
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        <name>Toledo Hospital</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-11-15</maturityDt>
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      <invstOrSec>
        <name>Dominion Energy South Carolina Inc.</name>
        <lei>3QRVFYR22IUIEOORTK28</lei>
        <title>Dominion Energy South Carolina Inc.</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-01</maturityDt>
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        <name>County of Broward FL Airport System Revenue</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Galp Energia SGPS SA</name>
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        <invCountry>PT</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Alabama Power Co.</name>
        <lei>0RL818ELFOHP5JHOFU19</lei>
        <title>Alabama Power Co.</title>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-07-15</maturityDt>
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        <name>Bayer US Finance II LLC</name>
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        <name>Sempra Energy</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
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        <name>Western Midstream Operating LP</name>
        <lei>L6D8A6MLSY454J2JXJ60</lei>
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        <invCountry>US</invCountry>

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        <name>Novartis AG</name>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>

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        <name>Synchrony Bank</name>
        <lei>549300UATVPGSLE43Z27</lei>
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        <invCountry>US</invCountry>

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        <name>Dominion Energy Gas Holdings LLC</name>
        <lei>549300BFOD6TDMVV4O24</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co.</title>
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        <balance>475000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AXA SA</name>
        <lei>F5WCUMTUM4RKZ1MAIE39</lei>
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        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>North Texas Tollway Authority</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
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          <isin value="US66285WFB72"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-01-01</maturityDt>
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      <invstOrSec>
        <name>Brooklyn Union Gas Co.</name>
        <lei>83BQ1DXS6VA5GZFK8S35</lei>
        <title>Brooklyn Union Gas Co.</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-03-15</maturityDt>
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      <invstOrSec>
        <name>McDonald's Corp.</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>McDonald's Corp.</title>
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        <balance>250000.00000000</balance>
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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>2048-09-01</maturityDt>
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          <annualizedRt>4.45000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc.</title>
        <cusip>N/A</cusip>
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          <isin value="XS2031277077"/>
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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>2026-10-23</maturityDt>
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          <annualizedRt>1.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp.</title>
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          <isin value="US539830BN88"/>
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        <curCd>USD</curCd>
        <valUSD>150333.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-09-15</maturityDt>
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          <annualizedRt>4.09000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KKR Clo 16 Ltd.</name>
        <lei>254900VCKMCY079T6M57</lei>
        <title>KKR Clo 16 Ltd.</title>
        <cusip>48251BAL4</cusip>
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          <isin value="US48251BAL45"/>
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        <balance>435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>435183.31000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-20</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Apple Inc.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple Inc.</title>
        <cusip>037833DF4</cusip>
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          <isin value="US037833DF47"/>
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        <balance>645000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>680442.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>Duke Energy Progress LLC</name>
        <lei>0NIFZ782LS46WOC9QK20</lei>
        <title>Duke Energy Progress LLC</title>
        <cusip>26442UAB0</cusip>
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          <isin value="US26442UAB08"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>429901.50000000</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>2045-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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      <invstOrSec>
        <name>Bankia SA</name>
        <lei>549300685QG7DJS55M76</lei>
        <title>BKIASM 4 1/8 03/24/36</title>
        <cusip>N/A</cusip>
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          <isin value="ES0414950644"/>
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        <balance>550000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <name>Boeing Co.</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BA 3 3/8 06/15/46</title>
        <cusip>097023BS3</cusip>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>179373.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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        <name>United Technologies Corp.</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>United Technologies Corp.</title>
        <cusip>913017CW7</cusip>
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        <valUSD>680333.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-11-16</maturityDt>
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          <annualizedRt>4.45000000</annualizedRt>
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        <name>Molson Coors International LP</name>
        <lei>549300JY2HGCZWKZS671</lei>
        <title>Molson Coors International LP</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2023-07-15</maturityDt>
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        <name>Progressive Corp.</name>
        <lei>529900TACNVLY9DCR586</lei>
        <title>Progressive Corp.</title>
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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>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</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>2025-10-15</maturityDt>
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          <annualizedRt>3.95000000</annualizedRt>
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        <name>RCI Banque SA</name>
        <lei>96950001WI712W7PQG45</lei>
        <title>RCI Banque SA</title>
        <cusip>N/A</cusip>
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        <balance>625000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-09-26</maturityDt>
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        <name>Fannie Mae REMICS</name>
        <lei>N/A</lei>
        <title>Fannie Mae REMICS</title>
        <cusip>3136B5TS4</cusip>
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        <balance>463134.61000000</balance>
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        <curCd>USD</curCd>
        <valUSD>471934.17000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <name>Banque Federative du Credit Mutuel SA</name>
        <lei>VBHFXSYT7OG62HNT8T76</lei>
        <title>Banque Federative du Credit Mutuel SA</title>
        <cusip>N/A</cusip>
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        <balance>1100000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>1.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Enbridge Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge Inc.</title>
        <cusip>29250N105</cusip>
        <identifiers>
          <isin value="CA29250N1050"/>
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        <balance>92038.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="0.74501769"/>
        <valUSD>3425754.13000000</valUSD>
        <pctVal>0.692802225435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CVS Health Corp.</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp.</title>
        <cusip>126650CU2</cusip>
        <identifiers>
          <isin value="US126650CU24"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1038440.00000000</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>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
        <cusip>06738EBH7</cusip>
        <identifiers>
          <isin value="US06738EBH71"/>
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        <balance>785000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>834455.00000000</valUSD>
        <pctVal>0.168754749782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-07</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.93200000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Province of Ontario Canada</name>
        <lei>C7PVKCRGLG18EBQGZV36</lei>
        <title>Province of Ontario Canada</title>
        <cusip>68333ZAC1</cusip>
        <identifiers>
          <isin value="CA68333ZAC10"/>
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        <balance>815000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="0.74501769"/>
        <valUSD>655792.93000000</valUSD>
        <pctVal>0.132623295218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Conagra Brands Inc.</name>
        <lei>54930035UDEIH090K650</lei>
        <title>Conagra Brands Inc.</title>
        <cusip>205887CD2</cusip>
        <identifiers>
          <isin value="US205887CD22"/>
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        <balance>345000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>420441.15000000</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>2038-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Starbucks Corp.</name>
        <lei>OQSJ1DU9TAOC51A47K68</lei>
        <title>Starbucks Corp.</title>
        <cusip>855244AS8</cusip>
        <identifiers>
          <isin value="US855244AS84"/>
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        <balance>335000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>401199.35000000</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>2048-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA</title>
        <cusip>05578QAA1</cusip>
        <identifiers>
          <isin value="US05578QAA13"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>447568.00000000</valUSD>
        <pctVal>0.090513240199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac Pool</name>
        <lei>N/A</lei>
        <title>Freddie Mac Pool</title>
        <cusip>3132DV4G7</cusip>
        <identifiers>
          <isin value="US3132DV4G77"/>
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        <balance>3043158.12000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3106394.95000000</valUSD>
        <pctVal>0.628217102796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FCE Bank plc</name>
        <lei>TU5V87TL5Q0UV1EW4H93</lei>
        <title>F 0.869 09/13/21</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1548776498"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
        <valUSD>554612.29000000</valUSD>
        <pctVal>0.112161180921</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-09-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.86900000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Goldman Sachs Group Inc.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc.</title>
        <cusip>38141GWZ3</cusip>
        <identifiers>
          <isin value="US38141GWZ35"/>
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        <balance>635000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>719791.55000000</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>Variable</couponKind>
          <annualizedRt>4.22300000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KDDI Corp.</name>
        <lei>5299003FU7V4I45FU310</lei>
        <title>KDDI Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3496400007"/>
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        <balance>102700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="0.00927127"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
        <cusip>907818FB9</cusip>
        <identifiers>
          <isin value="US907818FB91"/>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>214223.10000000</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>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fannie Mae REMICS</name>
        <lei>N/A</lei>
        <title>Fannie Mae REMICS</title>
        <cusip>3136B3T59</cusip>
        <identifiers>
          <isin value="US3136B3T599"/>
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        <balance>162483.45000000</balance>
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        <curCd>USD</curCd>
        <valUSD>167140.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fannie Mae REMICS</name>
        <lei>N/A</lei>
        <title>Fannie Mae REMICS</title>
        <cusip>3136B3JN1</cusip>
        <identifiers>
          <isin value="US3136B3JN11"/>
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        <balance>1092795.18000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1197015.06000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>CaixaBank SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
        <title>CaixaBank SA</title>
        <cusip>N/A</cusip>
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          <isin value="XS1897489578"/>
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        <balance>1700000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Millicom International Cellular SA</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>Millicom International Cellular SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SE0001174970"/>
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        <balance>75701.00000000</balance>
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        <currencyConditional curCd="SEK" exchangeRt="0.10406531"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Welltower Inc.</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>Welltower Inc.</title>
        <cusip>42217KBF2</cusip>
        <identifiers>
          <isin value="US42217KBF21"/>
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        <balance>325000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>357314.75000000</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>2025-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fannie Mae REMICS</name>
        <lei>N/A</lei>
        <title>Fannie Mae REMICS</title>
        <cusip>3136B4VA3</cusip>
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          <isin value="US3136B4VA35"/>
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        <balance>518069.13000000</balance>
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        <curCd>USD</curCd>
        <valUSD>572347.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SK Telecom Co. Ltd.</name>
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      <invstOrSec>
        <name>Standard Chartered plc</name>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Energy Transfer Operating LP</name>
        <lei>5493008K8W3OKZE54J59</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac REMICS</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-09-15</maturityDt>
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        <name>Japan Government Ten Year Bond</name>
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          <isin value="JP1103551K72"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KeySpan Gas East Corp.</name>
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      <invstOrSec>
        <name>First Investors Auto Owner Trust 2016-1</name>
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      <invstOrSec>
        <name>BP Capital Markets plc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FedEx Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Anheuser-Busch InBev SA/NV</name>
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        <name>Anheuser-Busch InBev Worldwide Inc.</name>
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        <name>Qatar Government International Bond</name>
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        <name>UBS Group AG</name>
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        <name>Atlas Senior Loan Fund V Ltd.</name>
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        <name>SSM Health Care Corp.</name>
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        <name>COLT 2018-3 Mortgage Loan Trust</name>
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        <name>Bayer US Finance LLC</name>
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        <name>COLT 2018-1 Mortgage Loan Trust</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>Comcast Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Boeing Co.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>E.ON SE</name>
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        <invCountry>DE</invCountry>

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      <invstOrSec>
        <name>Orange SA</name>
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        <name>Koninklijke KPN NV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Home Depot Inc.</name>
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        <title>Home Depot Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Boston Scientific Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-01</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <cusip>34540UAB5</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-06</maturityDt>
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      <invstOrSec>
        <name>Nutrien Ltd.</name>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ENN Energy Holdings Ltd.</name>
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        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Chubb INA Holdings Inc.</name>
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        <title>Chubb INA Holdings Inc.</title>
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        <name>N/A</name>
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        <name>Angel Oak Mortgage Trust I LLC 2018-3</name>
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        <name>Mitsubishi UFJ Financial Group Inc.</name>
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        <name>Northwestern Mutual Life Insurance Co.</name>
        <lei>1DU7IM20QESYGDO4HO54</lei>
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        <name>SoFi Consumer Loan Program 2019-3 Trust</name>
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        <title>SoFi Consumer Loan Program 2019-3 Trust</title>
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        <name>National Grid plc</name>
        <lei>8R95QZMKZLJX5Q2XR704</lei>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>Banco Santander Chile</name>
        <lei>3YJP8HORPAEXJ80D6368</lei>
        <title>Banco Santander Chile</title>
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        <balance>1050000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>CL</invCountry>

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          <maturityDt>2025-01-10</maturityDt>
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          <annualizedRt>2.70000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae or Freddie Mac</name>
        <lei>N/A</lei>
        <title>Fannie Mae or Freddie Mac</title>
        <cusip>01F032633</cusip>
        <identifiers>
          <isin value="US01F0326334"/>
        </identifiers>
        <balance>3080000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3198395.20000000</valUSD>
        <pctVal>0.646822634752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Bank of Nova Scotia</name>
        <lei>L3I9ZG2KFGXZ61BMYR72</lei>
        <title>Bank of Nova Scotia</title>
        <cusip>064159QE9</cusip>
        <identifiers>
          <isin value="US064159QE92"/>
        </identifiers>
        <balance>990000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1038183.30000000</valUSD>
        <pctVal>0.209955435607</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</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>Boeing Co.</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co.</title>
        <cusip>097023CA1</cusip>
        <identifiers>
          <isin value="US097023CA13"/>
        </identifiers>
        <balance>175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>190342.25000000</valUSD>
        <pctVal>0.038493578170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.45000000</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>Australia Government Bond</name>
        <lei>213800J6B7JSBDETCB42</lei>
        <title>Australia Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000XCLWAR9"/>
        </identifiers>
        <balance>870000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="0.65145306"/>
        <valUSD>635323.47000000</valUSD>
        <pctVal>0.128483684813</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</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>Lowe's Cos. Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos. Inc.</title>
        <cusip>548661DS3</cusip>
        <identifiers>
          <isin value="US548661DS37"/>
        </identifiers>
        <balance>440000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>537235.60000000</valUSD>
        <pctVal>0.108647032197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</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>Philadelphia Authority for Industrial Development</name>
        <lei>549300DIY68KQZEW7M79</lei>
        <title>Philadelphia Authority for Industrial Development</title>
        <cusip>71781LBH1</cusip>
        <identifiers>
          <isin value="US71781LBH15"/>
        </identifiers>
        <balance>525000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>701898.75000000</valUSD>
        <pctVal>0.141947436265</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.55000000</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>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP 1 1/2 11/17/25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1614416193"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
        <valUSD>934604.95000000</valUSD>
        <pctVal>0.189008424040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</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>Fannie Mae REMICS</name>
        <lei>N/A</lei>
        <title>Fannie Mae REMICS</title>
        <cusip>3136ANUU9</cusip>
        <identifiers>
          <isin value="US3136ANUU93"/>
        </identifiers>
        <balance>423284.90000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>446375.09000000</valUSD>
        <pctVal>0.090271993842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>City of Toronto Canada</name>
        <lei>54930037NB6NXS8EKP78</lei>
        <title>City of Toronto Canada</title>
        <cusip>891288DR0</cusip>
        <identifiers>
          <isin value="CA891288DR03"/>
        </identifiers>
        <balance>1000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="0.74501769"/>
        <valUSD>877830.36000000</valUSD>
        <pctVal>0.177526700365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</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>AT&amp;T Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc.</title>
        <cusip>00206RCJ9</cusip>
        <identifiers>
          <isin value="XS1196380031"/>
        </identifiers>
        <balance>380000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
        <valUSD>470338.93000000</valUSD>
        <pctVal>0.095118284922</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</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>AbbVie Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie Inc.</title>
        <cusip>00287YBR9</cusip>
        <identifiers>
          <isin value="US00287YBR99"/>
        </identifiers>
        <balance>210000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>231294.00000000</valUSD>
        <pctVal>0.046775393635</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</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>Healthpeak Properties Inc.</name>
        <lei>PZ9HF5U52KPF0MH0QN75</lei>
        <title>Healthpeak Properties Inc.</title>
        <cusip>42250PAA1</cusip>
        <identifiers>
          <isin value="US42250PAA12"/>
        </identifiers>
        <balance>315000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>330438.15000000</valUSD>
        <pctVal>0.066825661446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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>E.ON International Finance BV</name>
        <lei>549300TG53AWJ719M814</lei>
        <title>E.ON International Finance BV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS0327443627"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="1.28216634"/>
        <valUSD>384736.48000000</valUSD>
        <pctVal>0.077806602410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</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>American International Group Inc.</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1405781425"/>
        </identifiers>
        <balance>875000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
        <valUSD>1004699.34000000</valUSD>
        <pctVal>0.203183857402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</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>United Kingdom Gilt</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BYY5F581"/>
        </identifiers>
        <balance>955000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="1.28216634"/>
        <valUSD>1235260.36000000</valUSD>
        <pctVal>0.249811017932</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</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>MPLX LP</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP</title>
        <cusip>55336VAR1</cusip>
        <identifiers>
          <isin value="US55336VAR15"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>211414.00000000</valUSD>
        <pctVal>0.042754991785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>ERAC USA Finance LLC</name>
        <lei>LTKX5ODQW6Z7BQ2K1V47</lei>
        <title>ERAC USA Finance LLC</title>
        <cusip>26884TAN2</cusip>
        <identifiers>
          <isin value="US26884TAN28"/>
        </identifiers>
        <balance>575000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>688493.50000000</valUSD>
        <pctVal>0.139236445727</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
        <cusip>907818FL7</cusip>
        <identifiers>
          <isin value="US907818FL73"/>
        </identifiers>
        <balance>265000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>278051.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2070-02-05</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Saudi Government International Bond</name>
        <lei>635400FMICXSM3SI3H65</lei>
        <title>Saudi Government International Bond</title>
        <cusip>80413TAD1</cusip>
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          <isin value="US80413TAD19"/>
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        <balance>1555000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1593859.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>SA</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Grand Parkway Transportation Corp.</name>
        <lei>N/A</lei>
        <title>Grand Parkway Transportation Corp</title>
        <cusip>38611TDL8</cusip>
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          <isin value="US38611TDL89"/>
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        <balance>210000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>213929.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.23600000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
        <cusip>345397YT4</cusip>
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          <isin value="US345397YT41"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>618332.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.81500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Penske Truck Leasing Co. Lp / PTL Finance Corp.</name>
        <lei>N/A</lei>
        <title>Penske Truck Leasing Co. Lp / PTL Finance Corp.</title>
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          <isin value="US709599BG87"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>186865.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>First Investors Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>First Investors Auto Owner Trust</title>
        <cusip>32059AAB6</cusip>
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          <isin value="US32059AAB61"/>
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        <balance>89086.63000000</balance>
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        <curCd>USD</curCd>
        <valUSD>89231.84000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.41000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Magnetite VII Ltd.</name>
        <lei>549300B54XJTQC6DWJ15</lei>
        <title>Magnetite VII Ltd.</title>
        <cusip>55951PBA4</cusip>
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          <isin value="US55951PBA49"/>
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        <balance>1510000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1506675.43000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.63125000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Molson Coors Beverage Co.</name>
        <lei>54930073LBBH6ZCBE225</lei>
        <title>Molson Coors Beverage Co.</title>
        <cusip>60871RAG5</cusip>
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          <isin value="US60871RAG56"/>
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        <balance>425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>441460.25000000</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>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sinopec Group Overseas Development 2018 Ltd.</name>
        <lei>549300C6OZZ8LTVR8209</lei>
        <title>Sinopec Group Overseas Development 2018 Ltd.</title>
        <cusip>82939GAL2</cusip>
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          <isin value="US82939GAL23"/>
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        <balance>845000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>885737.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kellogg Co.</name>
        <lei>LONOZNOJYIBXOHXWDB86</lei>
        <title>Kellogg Co.</title>
        <cusip>487836108</cusip>
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          <isin value="US4878361082"/>
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        <balance>41930.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2535507.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Volkswagen AG</name>
        <lei>529900NNUPAGGOMPXZ31</lei>
        <title>Volkswagen AG Preference Shares</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0007664039"/>
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        <balance>18153.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Aker BP ASA</name>
        <lei>549300NFTY73920OYK69</lei>
        <title>Aker BP ASA</title>
        <cusip>00973RAF0</cusip>
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          <isin value="US00973RAF01"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>705250.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
        <cusip>14040HCC7</cusip>
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          <isin value="XS2010331440"/>
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        <balance>1425000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-12</maturityDt>
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          <annualizedRt>1.65000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Tencent Holdings Ltd.</name>
        <lei>254900N4SLUMW4XUYY11</lei>
        <title>Tencent Holdings Ltd.</title>
        <cusip>88032WAG1</cusip>
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          <isin value="US88032WAG15"/>
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        <balance>690000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>744365.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-19</maturityDt>
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        <name>TJX Cos. Inc.</name>
        <lei>V167QI9I69W364E2DY52</lei>
        <title>TJX Cos. Inc.</title>
        <cusip>872540109</cusip>
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        <balance>32783.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1960423.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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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        <name>Ford Credit Floorplan Master Owner Trust A</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>Ford Credit Floorplan Master Owner Trust A</title>
        <cusip>34528QHF4</cusip>
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          <isin value="US34528QHF46"/>
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        <balance>210000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-15</maturityDt>
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        <name>UniCredit SPA</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UniCredit SPA</title>
        <cusip>N/A</cusip>
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        <balance>1400000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-20</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Freddie Mac Multifamily Structured Pass Through Certificates</name>
        <lei>N/A</lei>
        <title>Freddie Mac Multifamily Structured Pass Through Certificates</title>
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        <balance>235000.00000000</balance>
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        <valUSD>244860.60000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-25</maturityDt>
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      <invstOrSec>
        <name>National Retail Properties Inc.</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>National Retail Properties Inc.</title>
        <cusip>637417AG1</cusip>
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          <isin value="US637417AG16"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>433840.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <name>Freddie Mac</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-01</maturityDt>
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      <invstOrSec>
        <name>Cooperatieve Rabobank UA</name>
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        <cusip>N/A</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Fortis Inc.</name>
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          <isin value="US349553AM97"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-04</maturityDt>
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      <invstOrSec>
        <name>Sales Tax Securitization Corp.</name>
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          <isin value="US79467BCN38"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Northwestern Mutual Life Insurance Co.</name>
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        <name>Foothill-Eastern Transportation Corridor Agency</name>
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        <valUSD>338599.80000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.92400000</annualizedRt>
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        <name>Amgen Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen Inc.</title>
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          <isin value="US031162CF59"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>437066.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-06-15</maturityDt>
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          <annualizedRt>4.66300000</annualizedRt>
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        <name>Chicago Transit Authority</name>
        <lei>549300CB8XLRGIPN3E12</lei>
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        <curCd>USD</curCd>
        <valUSD>58500.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-12-01</maturityDt>
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          <annualizedRt>6.89900000</annualizedRt>
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        <name>Alibaba Group Holding Ltd.</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>Alibaba Group Holding Ltd.</title>
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        <balance>690000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>742619.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-06</maturityDt>
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          <annualizedRt>3.40000000</annualizedRt>
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        <name>United Kingdom Gilt</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

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          <maturityDt>2022-07-22</maturityDt>
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        <name>Amazon.com Inc.</name>
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        <name>BPCE SA</name>
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        <name>N/A</name>
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        <name>Tennessee Gas Pipeline Co. LLC</name>
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        <name>United Kingdom Gilt</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
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        <name>Municipal Electric Authority of Georgia</name>
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        <name>Vodafone Group plc</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group plc</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Dominion Energy South Carolina Inc.</name>
        <lei>3QRVFYR22IUIEOORTK28</lei>
        <title>Dominion Energy South Carolina Inc.</title>
        <cusip>837004CG3</cusip>
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          <isin value="US837004CG35"/>
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        <balance>280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>363207.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Volkswagen Leasing GmbH</name>
        <lei>5299004GLEUX88BSNB74</lei>
        <title>Volkswagen Leasing GmbH</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1642590480"/>
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        <balance>1825000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PNC Bank NA</name>
        <lei>AD6GFRVSDT01YPT1CS68</lei>
        <title>PNC Bank NA</title>
        <cusip>69353RFJ2</cusip>
        <identifiers>
          <isin value="US69353RFJ23"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>664674.00000000</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>2028-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Australia Government Bond</name>
        <lei>213800J6B7JSBDETCB42</lei>
        <title>Australia Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000XCLWAW9"/>
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        <balance>1185000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="0.65145306"/>
        <valUSD>808477.89000000</valUSD>
        <pctVal>0.163501308077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury Note/Bond</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>912810SJ8</cusip>
        <identifiers>
          <isin value="US912810SJ88"/>
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        <balance>1355000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1540255.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NextEra Energy Capital Holdings Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings Inc.</title>
        <cusip>65339KBH2</cusip>
        <identifiers>
          <isin value="US65339KBH23"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>96407.10000000</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>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sunoco Logistics Partners Operations LP</name>
        <lei>5493006LL0CKP8WQW329</lei>
        <title>Sunoco Logistics Partners Operations LP</title>
        <cusip>86765BAQ2</cusip>
        <identifiers>
          <isin value="US86765BAQ23"/>
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        <balance>175000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194572.00000000</valUSD>
        <pctVal>0.039348975288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United Kingdom Gilt</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BDRHNP05"/>
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        <balance>445000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="1.28216634"/>
        <valUSD>610486.22000000</valUSD>
        <pctVal>0.123460760978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
        <cusip>907818FC7</cusip>
        <identifiers>
          <isin value="US907818FC74"/>
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        <balance>120000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145053.60000000</valUSD>
        <pctVal>0.029334696266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Massachusetts School Building Authority</name>
        <lei>N/A</lei>
        <title>Massachusetts School Building Authority Dedicated Sales Tax Revenue</title>
        <cusip>576000XQ1</cusip>
        <identifiers>
          <isin value="US576000XQ10"/>
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        <balance>135000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>144509.40000000</valUSD>
        <pctVal>0.029224640799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.39500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Merck &amp; Co. Inc.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>Merck &amp; Co. Inc.</title>
        <cusip>58933YAX3</cusip>
        <identifiers>
          <isin value="US58933YAX31"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>559055.00000000</valUSD>
        <pctVal>0.113059645684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AbbVie Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie Inc.</title>
        <cusip>00287YAW9</cusip>
        <identifiers>
          <isin value="US00287YAW93"/>
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        <balance>370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>424356.70000000</valUSD>
        <pctVal>0.085819137912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC</title>
        <cusip>29379VBY8</cusip>
        <identifiers>
          <isin value="US29379VBY83"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99212.00000000</valUSD>
        <pctVal>0.020063989352</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Truist Bank</name>
        <lei>JJKC32MCHWDI71265Z06</lei>
        <title>Truist Bank</title>
        <cusip>86787GAJ1</cusip>
        <identifiers>
          <isin value="US86787GAJ13"/>
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        <balance>975000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1047530.25000000</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>2026-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</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>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46625HRY8</cusip>
        <identifiers>
          <isin value="US46625HRY89"/>
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        <balance>1200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1327488.00000000</valUSD>
        <pctVal>0.268462535762</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.78200000</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>N/A</name>
        <lei>N/A</lei>
        <title>CURRENCY CONTRACT - USD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL ID" value="CCTUSD"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-1103354.99000000</valUSD>
        <pctVal>-0.22313533415</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>J.P. Morgan Securities LLC</counterpartyName>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>N/A</lei>
        <title>Freddie Mac Gold Pool</title>
        <cusip>3128MJ5C0</cusip>
        <identifiers>
          <isin value="US3128MJ5C09"/>
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        <balance>244120.42000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>258936.09000000</valUSD>
        <pctVal>0.052365550062</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <cusip>09659W2J2</cusip>
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          <isin value="US09659W2J22"/>
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        <balance>360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>371826.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-19</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State of California</name>
        <lei>N/A</lei>
        <title>California GO</title>
        <cusip>13063A5G5</cusip>
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          <isin value="US13063A5G50"/>
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        <balance>260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>446487.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.55000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Sierra Pacific Power Co.</name>
        <lei>QB888G5GSVGE1LD1WV84</lei>
        <title>Sierra Pacific Power Co.</title>
        <cusip>826418BM6</cusip>
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          <isin value="US826418BM64"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>187648.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fannie Mae REMICS</name>
        <lei>N/A</lei>
        <title>Fannie Mae REMICS</title>
        <cusip>3136ANUP0</cusip>
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          <isin value="US3136ANUP09"/>
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        <balance>542727.23000000</balance>
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        <curCd>USD</curCd>
        <valUSD>558097.27000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kaiser Foundation Hospitals</name>
        <lei>DW4Z57L3G4IRMHYZYK62</lei>
        <title>Kaiser Foundation Hospitals</title>
        <cusip>48305QAB9</cusip>
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          <isin value="US48305QAB95"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>74926.50000000</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>2042-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Boeing Co.</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co.</title>
        <cusip>097023105</cusip>
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          <isin value="US0970231058"/>
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        <balance>8295.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2282037.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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>
        <name>Walt Disney Co.</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>Walt Disney Co.</title>
        <cusip>254687DZ6</cusip>
        <identifiers>
          <isin value="US254687DZ66"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>958061.00000000</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>2034-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.20000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Foothill-Eastern Transportation Corridor Agency</name>
        <lei>N/A</lei>
        <title>FOOTHILL / EASTERN TRANSN CORRIDOR AGY CALIF TOLL RD REV TAXABLE REF BDS 2019A</title>
        <cusip>345105JE1</cusip>
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          <isin value="US345105JE16"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>48600.00000000</valUSD>
        <pctVal>0.009828547782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.09400000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Duke Energy Progress LLC</name>
        <lei>0NIFZ782LS46WOC9QK20</lei>
        <title>Duke Energy Progress LLC</title>
        <cusip>144141DD7</cusip>
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          <isin value="US144141DD73"/>
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        <balance>725000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>854274.75000000</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>2043-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>E.ON SE</name>
        <lei>Q9MAIUP40P25UFBFG033</lei>
        <title>E.On Se</title>
        <cusip>N/A</cusip>
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          <isin value="DE000ENAG999"/>
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        <balance>354414.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp.</title>
        <cusip>539830109</cusip>
        <identifiers>
          <isin value="US5398301094"/>
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        <balance>6095.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Madison Park Funding XXX Ltd.</name>
        <lei>N/A</lei>
        <title>Madison Park Funding XXX Ltd.</title>
        <cusip>55821TAA5</cusip>
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          <isin value="US55821TAA51"/>
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        <balance>1570000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1560993.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.58125000</annualizedRt>
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      <invstOrSec>
        <name>Japan Government Ten Year Bond</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Ten Year Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP1103531K10"/>
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        <balance>699850000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00927127"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</annualizedRt>
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      <invstOrSec>
        <name>Chesapeake Funding II LLC</name>
        <lei>5493000HT7H4OFOD6Z12</lei>
        <title>Chesapeake Funding II LLC</title>
        <cusip>165183AL8</cusip>
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          <isin value="US165183AL88"/>
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        <balance>225874.49000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

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          <maturityDt>2029-05-15</maturityDt>
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          <annualizedRt>1.99000000</annualizedRt>
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        <name>Volkswagen Leasing GmbH</name>
        <lei>5299004GLEUX88BSNB74</lei>
        <title>VW 2 5/8 01/15/24</title>
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          <isin value="XS1014610254"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Colombia Government International Bond</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia Government International Bond</title>
        <cusip>195325BQ7</cusip>
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          <isin value="US195325BQ70"/>
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        <balance>1045000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>Hellenic Telecommunications Organization SA</name>
        <lei>ELPUFM0XZRZO4LFXW404</lei>
        <title>Hellenic Telecommunications Organization SA</title>
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          <isin value="GRS260333000"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
        <cusip>03027XAD2</cusip>
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          <isin value="US03027XAD21"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>224430.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Boeing Co.</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co.</title>
        <cusip>097023BX2</cusip>
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          <isin value="US097023BX25"/>
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        <balance>617000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>666662.33000000</valUSD>
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        <name>NextEra Energy Capital Holdings Inc.</name>
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        <name>Infraestructura Energetica Nova SAB de CV</name>
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        <name>Baxter International Inc.</name>
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        <name>Kansas Development Finance Authority</name>
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        <name>Microsoft Corp.</name>
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        <name>Cisco Systems Inc.</name>
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        <name>AT&amp;T Inc.</name>
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        <name>Exxon Mobil Corp.</name>
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        <name>International Business Machines Corp.</name>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cimarex Energy Co.</name>
        <lei>11KYOFXPU1C4CQL1CL44</lei>
        <title>XEC 4 3/8 06/01/24</title>
        <cusip>171798AC5</cusip>
        <identifiers>
          <isin value="US171798AC50"/>
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        <balance>859000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>906279.36000000</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>2024-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FedEx Corp.</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FedEx Corp.</title>
        <cusip>31428XBG0</cusip>
        <identifiers>
          <isin value="US31428XBG07"/>
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        <balance>95000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104180.80000000</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>2046-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vanguard Cmt Funds-Vanguard Market Liquidity Fund</name>
        <lei>1I6HV0TLSTR3A4XQ6L78</lei>
        <title>Vanguard Market Liquidity Fund</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="FAID" value="CMT001142"/>
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        <balance>245752.03000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24582575.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
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      <invstOrSec>
        <name>Fannie Mae or Freddie Mac</name>
        <lei>N/A</lei>
        <title>Fannie Mae or Freddie Mac</title>
        <cusip>01F022634</cusip>
        <identifiers>
          <isin value="US01F0226344"/>
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        <balance>6900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>-7041243.00000000</valUSD>
        <pctVal>-1.42397517017</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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>
      <invstOrSec>
        <name>Castlelake Aircraft Structured Trust 2019-1</name>
        <lei>549300MHTIBONNXM3R82</lei>
        <title>Castlelake Aircraft Structured Trust 2019-1</title>
        <cusip>14855MAA6</cusip>
        <identifiers>
          <isin value="US14855MAA62"/>
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        <balance>223033.89000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>228397.86000000</valUSD>
        <pctVal>0.046189697125</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.96700000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Metropolitan Life Global Funding I</name>
        <lei>635400MMSOCXNNNZDZ82</lei>
        <title>Metropolitan Life Global Funding I</title>
        <cusip>59217GCK3</cusip>
        <identifiers>
          <isin value="US59217GCK31"/>
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        <balance>700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>753074.00000000</valUSD>
        <pctVal>0.152296785851</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Orange SA</name>
        <lei>969500MCOONR8990S771</lei>
        <title>Orange SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0013396520"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
        <valUSD>377045.28000000</valUSD>
        <pctVal>0.076251184165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Edison International</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>Edison International</title>
        <cusip>281020107</cusip>
        <identifiers>
          <isin value="US2810201077"/>
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        <balance>44049.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2959652.31000000</valUSD>
        <pctVal>0.598540826070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae Pool</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418CR71</cusip>
        <identifiers>
          <isin value="US31418CR718"/>
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        <balance>1392595.06000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1449733.24000000</valUSD>
        <pctVal>0.293184617706</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Conagra Brands Inc.</name>
        <lei>54930035UDEIH090K650</lei>
        <title>Conagra Brands Inc.</title>
        <cusip>205887CE0</cusip>
        <identifiers>
          <isin value="US205887CE05"/>
        </identifiers>
        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25314.20000000</valUSD>
        <pctVal>0.005119379100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>949746RX1</cusip>
        <identifiers>
          <isin value="CA949746RX19"/>
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        <balance>600000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="CAD" exchangeRt="0.74501769"/>
        <valUSD>463512.86000000</valUSD>
        <pctVal>0.093737824940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.97500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Seasoned Credit Risk Transfer Trust Series 2019-1</name>
        <lei>N/A</lei>
        <title>Seasoned Credit Risk Transfer Trust Series 2019-1</title>
        <cusip>35563PJF7</cusip>
        <identifiers>
          <isin value="US35563PJF71"/>
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        <balance>241696.37000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>258170.39000000</valUSD>
        <pctVal>0.052210699876</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Australia Government Bond</name>
        <lei>213800J6B7JSBDETCB42</lei>
        <title>Australia Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000XCLWAQ1"/>
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        <balance>160000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="AUD" exchangeRt="0.65145306"/>
        <valUSD>120018.36000000</valUSD>
        <pctVal>0.024271732221</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Metropolitan Transportation Authority</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>New York Metropolitan Transportation Authority Revenue (Transit Revenue)</title>
        <cusip>59259YBY4</cusip>
        <identifiers>
          <isin value="US59259YBY41"/>
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        <balance>155000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>239302.95000000</valUSD>
        <pctVal>0.048395071573</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.66800000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MPLX LP</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP</title>
        <cusip>55336VAY6</cusip>
        <identifiers>
          <isin value="US55336VAY65"/>
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        <balance>1325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1378053.00000000</valUSD>
        <pctVal>0.278688472359</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
        <cusip>20030NCL3</cusip>
        <identifiers>
          <isin value="US20030NCL38"/>
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        <balance>265000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>333452.15000000</valUSD>
        <pctVal>0.067435193195</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AT&amp;T Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc.</title>
        <cusip>00206RHS4</cusip>
        <identifiers>
          <isin value="US00206RHS40"/>
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        <balance>950000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1026893.00000000</valUSD>
        <pctVal>0.207672158796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>innogy Finance BV</name>
        <lei>5299005PIU82TA2PW123</lei>
        <title>innogy Finance BV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS0735770637"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="1.28216634"/>
        <valUSD>839050.30000000</valUSD>
        <pctVal>0.169684073355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>New York State Dormitory Authority</name>
        <lei>549300C8XO7EXTX2XU71</lei>
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          <isin value="US64990FRB21"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FedEx Corp.</name>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-10-17</maturityDt>
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      <invstOrSec>
        <name>Marsh &amp; McLennan Cos. Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-15</maturityDt>
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      <invstOrSec>
        <name>GreatAmerica Leasing Receivables Funding LLC Series 2018-1</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Race Point IX CLO Ltd.</name>
        <lei>549300C3570PBQ31OI09</lei>
        <title>Race Point IX CLO Ltd.</title>
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          <isin value="US74981HCC25"/>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
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      <invstOrSec>
        <name>American Tower Corp.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Carrier Global Corp.</name>
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        <title>Carrier Global Corp.</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.72200000</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Assn.</title>
        <cusip>38379TAR0</cusip>
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          <isin value="US38379TAR05"/>
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        <balance>270656.59000000</balance>
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        <curCd>USD</curCd>
        <valUSD>280175.58000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>Mercy Health/OH</name>
        <lei>RV2KCMRGYKSCKT5REH48</lei>
        <title>Mercy Health/OH</title>
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        <curCd>USD</curCd>
        <valUSD>582449.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55500000</annualizedRt>
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        <name>WEA Finance LLC</name>
        <lei>3CYEJKBUJZO3UW777J80</lei>
        <title>WEA Finance LLC</title>
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          <isin value="US92928QAE89"/>
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        <balance>610000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Medtronic Global Holdings SCA</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Royal Bank of Canada</name>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ARI Fleet Lease Trust 2018-A</name>
        <lei>N/A</lei>
        <title>ARI Fleet Lease Trust 2018-A</title>
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          <isin value="US00217EAB48"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <name>Iberdrola International BV</name>
        <lei>549300ZMLFJKWC63XN87</lei>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>Spain Government Bond</name>
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        <title>Spain Government Bond</title>
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        <issuerCat>NUSS</issuerCat>
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        <name>Banco de Sabadell SA</name>
        <lei>SI5RG2M0WQQLZCXKRM20</lei>
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        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae REMICS</name>
        <lei>N/A</lei>
        <title>Fannie Mae REMICS</title>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CSX Corp.</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX Corp.</title>
        <cusip>126408HK2</cusip>
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          <isin value="US126408HK26"/>
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        <balance>405000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>486741.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Santander Holdings USA Inc.</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>Santander Holdings USA Inc.</title>
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          <isin value="US80282KAT34"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae Pool</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <balance>125000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Tyson Foods Inc.</name>
        <lei>WD6L6041MNRW1JE49D58</lei>
        <title>Tyson Foods Inc.</title>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>260922.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-09-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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      <invstOrSec>
        <name>Cox Communications Inc.</name>
        <lei>5493001NEDZNIFRP2R92</lei>
        <title>Cox Communications Inc.</title>
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          <isin value="US224044CK16"/>
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        <balance>650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>760175.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-15</maturityDt>
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          <annualizedRt>4.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Toledo Hospital</name>
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        <title>Toledo Hospital</title>
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          <isin value="US889184AC18"/>
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        <balance>410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>478281.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.32500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide Inc.</name>
        <lei>N/A</lei>
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        <cusip>03522AAJ9</cusip>
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          <isin value="US03522AAJ97"/>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>861490.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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      <invstOrSec>
        <name>HCA Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA Inc.</title>
        <cusip>404119BZ1</cusip>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>349500.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Credit Suisse Group AG</name>
        <lei>549300506SI9CRFV9Z86</lei>
        <title>Credit Suisse Group AG</title>
        <cusip>225401AM0</cusip>
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        <balance>410000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>417302.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-11</maturityDt>
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        <name>Freddie Mac REMICS</name>
        <lei>N/A</lei>
        <title>Freddie Mac REMICS</title>
        <cusip>3137ACCY3</cusip>
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        <curCd>USD</curCd>
        <valUSD>241033.15000000</valUSD>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EURO BTP FUT MAR 20</title>
        <cusip>N/A</cusip>
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          <ticker value="IKH0"/>
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        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Brandywine Operating Partnership LP</name>
        <lei>IXBXSCONLDQ1ZI73YU71</lei>
        <title>Brandywine Operating Partnership LP</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Tencent Holdings Ltd.</name>
        <lei>254900N4SLUMW4XUYY11</lei>
        <title>Tencent Holdings Ltd.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

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        <name>Emerson Electric Co.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Chicago Transit Authority</name>
        <lei>549300CB8XLRGIPN3E12</lei>
        <title>Chicago IL Transit Authority Transfer Tax Receipts Revenue</title>
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        <balance>645000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>TransCanada PipeLines Ltd.</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
        <title>TransCanada PipeLines Ltd.</title>
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        <balance>475000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Koninklijke Philips NV</name>
        <lei>H1FJE8H61JGM1JSGM897</lei>
        <title>Koninklijke Philips NV</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp.</title>
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        <balance>650000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Empresa de Transmision Electrica SA</name>
        <lei>254900RX1DOMC83TZ320</lei>
        <title>Empresa de Transmision Electrica SA</title>
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        <name>Iberdrola SA</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>EQM Midstream Partners LP</name>
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        <name>CVS Health Corp.</name>
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          <isin value="US126650CW89"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Imperial Brands Finance plc</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
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      <invstOrSec>
        <name>Danone SA</name>
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        <invCountry>FR</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae Pool</name>
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        <name>AXA SA</name>
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        <name>Boeing Co.</name>
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        <name>Cleco Corporate Holdings LLC</name>
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        <name>Dignity Health</name>
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        <name>Macquarie Group Ltd.</name>
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        <name>Cottage Health Obligated Group</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Georgia Power Co.</name>
        <lei>D981X4Z4RWS7PDMJUZ03</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Oglethorpe Power Corp.</name>
        <lei>3EERXCUSWMS9GV5D9M98</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac REMICS</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Guangdong Investment Ltd.</name>
        <lei>N/A</lei>
        <title>Guangdong Investment Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="HK0270001396"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <isin value="US61744YAP34"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-24</maturityDt>
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        <name>Verizon Communications Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
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          <isin value="XS2114853299"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-20</maturityDt>
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          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>Vanguard Cmt Funds-Vanguard Market Liquidity Fund</name>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications Inc.</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.67200000</annualizedRt>
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      <invstOrSec>
        <name>Oglethorpe Power Corp.</name>
        <lei>3EERXCUSWMS9GV5D9M98</lei>
        <title>Oglethorpe Power Corp.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>Daimler AG</name>
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        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>America Movil SAB de CV</name>
        <lei>5493000FNR3UCEAONM59</lei>
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        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Intesa Sanpaolo SPA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Bell Canada Inc.</name>
        <lei>549300O5ZKB2MUUSKB97</lei>
        <title>Bell Canada Inc.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Occidental Petroleum Corp.</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
        <title>Occidental Petroleum Corp.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-05-01</maturityDt>
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          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications Inc.</title>
        <cusip>92343VCM4</cusip>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>350115.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Telefonica Emisiones SA</name>
        <lei>549300Y5MFC4SW5Z3K71</lei>
        <title>Telefonica Emisiones SA</title>
        <cusip>N/A</cusip>
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          <isin value="XS1069430368"/>
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        <name>Phillips 66 Partners LP</name>
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        <name>Deephaven Residential Mortgage Trust 2018-1</name>
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      <invstOrSec>
        <name>Anthem Inc.</name>
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        <name>CommonSpirit Health</name>
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        <name>CK Hutchison International 17 II Ltd.</name>
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        <name>Fannie Mae or Freddie Mac</name>
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        <name>Nestle SA</name>
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        <name>Vantage Data Centers Issuer LLC</name>
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        <name>Sky Ltd.</name>
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        <name>Bank of America Corp.</name>
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        <name>MMAF Equipment Finance LLC 2017-B</name>
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        <name>Philip Morris International Inc.</name>
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        <name>AT&amp;T Inc.</name>
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        <name>UBS Group AG</name>
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        <name>Merck &amp; Co. Inc.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
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        <name>Medtronic Global Holdings SCA</name>
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        <name>General Motors Co.</name>
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        <name>John Deere Capital Corp.</name>
        <lei>E0KSF7PFQ210NWI8Z391</lei>
        <title>John Deere Capital Corp.</title>
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      <invstOrSec>
        <name>Pfizer Inc.</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>Pfizer Inc.</title>
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          <isin value="US7170811035"/>
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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>Fidelity National Information Services Inc.</name>
        <lei>6WQI0GK1PRFVBA061U48</lei>
        <title>Fidelity National Information Services Inc.</title>
        <cusip>31620MBE5</cusip>
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          <isin value="XS1843435923"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-21</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="INTERNAL ID" value="CCTUSD"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>94621.96000000</valUSD>
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        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>J.P. Morgan Securities LLC</counterpartyName>
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      <invstOrSec>
        <name>Energy Transfer Operating LP</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>Energy Transfer Operating LP</title>
        <cusip>29273RBE8</cusip>
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          <isin value="US29273RBE80"/>
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        <balance>975000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co. Ltd.</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>Taiwan Semiconductor Manufacturing Co. Ltd.</title>
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          <isin value="TW0002330008"/>
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        <balance>502000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="INTERNAL ID" value="CCTUSD"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>189991.13000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>GOLDMAN SACHS INTERNATIONAL</counterpartyName>
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      <invstOrSec>
        <name>Goldman Sachs Group Inc.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc.</title>
        <cusip>38141GWQ3</cusip>
        <identifiers>
          <isin value="US38141GWQ36"/>
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        <balance>1425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1502919.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-29</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.27200000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BPCE SA</name>
        <lei>9695005MSX1OYEMGDF46</lei>
        <title>BPCE SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0013155009"/>
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        <balance>1300000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="1.10395990"/>
        <valUSD>1626353.92000000</valUSD>
        <pctVal>0.328903234839</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Japan Government Ten Year Bond</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Ten Year Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP1103541K42"/>
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        <balance>42600000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="0.00927127"/>
        <valUSD>406274.53000000</valUSD>
        <pctVal>0.082162317504</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.10000000</annualizedRt>
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      <invstOrSec>
        <name>Allergan Funding SCS</name>
        <lei>222100FLFVOSKCBCAR54</lei>
        <title>Allergan Funding SCS</title>
        <cusip>00507UAU5</cusip>
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          <isin value="US00507UAU51"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>330973.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>United Technologies Corp.</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>United Technologies Corp.</title>
        <cusip>913017DD8</cusip>
        <identifiers>
          <isin value="US913017DD80"/>
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        <balance>310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>346902.40000000</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>2025-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
        <cusip>780086QC1</cusip>
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          <isin value="CA780086QC12"/>
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        <balance>1825000.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="0.74501769"/>
        <valUSD>1410293.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.94900000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Province of Ontario Canada</name>
        <lei>C7PVKCRGLG18EBQGZV36</lei>
        <title>Province of Ontario Canada</title>
        <cusip>N/A</cusip>
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          <isin value="CH0367206759"/>
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        <balance>1075000.00000000</balance>
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        <currencyConditional curCd="CHF" exchangeRt="1.03648424"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Chubb INA Holdings Inc.</name>
        <lei>CZCBJZWDMLTHWJDXU843</lei>
        <title>Chubb INA Holdings Inc.</title>
        <cusip>171239AC0</cusip>
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          <isin value="XS2012102674"/>
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        <balance>1010000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.87500000</annualizedRt>
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        <name>Penske Truck Leasing Co. Lp / PTL Finance Corp.</name>
        <lei>N/A</lei>
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        <cusip>709599AN4</cusip>
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          <isin value="US709599AN48"/>
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        <balance>1125000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1207203.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-01-17</maturityDt>
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          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Anthem Inc.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>Anthem Inc.</title>
        <cusip>036752AG8</cusip>
        <identifiers>
          <isin value="US036752AG89"/>
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        <balance>665000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>743257.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10100000</annualizedRt>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
        <cusip>20030NCE9</cusip>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>70485.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.99900000</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>Chicago Transit Authority</name>
        <lei>549300CB8XLRGIPN3E12</lei>
        <title>Chicago Transit Authority</title>
        <cusip>167725AB6</cusip>
        <identifiers>
          <isin value="US167725AB65"/>
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        <balance>45000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47539.35000000</valUSD>
        <pctVal>0.009614048827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2020-03-31</ncom:dateSigned>
      <ncom:nameOfApplicant>VANGUARD WORLD FUND</ncom:nameOfApplicant>
      <ncom:signature>Christine M. Buchanan</ncom:signature>
      <ncom:signerName>Christine M. Buchanan</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
