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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Welltower Inc.</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>WELLTOWER INC REIT USD1.0</title>
        <cusip>95040Q104</cusip>
        <identifiers>
          <isin value="US95040Q1040"/>
          <ticker value="WELL "/>
        </identifiers>
        <balance>31873</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2089275.15</valUSD>
        <pctVal>0.1520038423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Weyerhaeuser Company</name>
        <lei>08IRJODWFYBI7QWRGS31</lei>
        <title>WEYERHAEUSER CO REIT USD1.25</title>
        <cusip>962166104</cusip>
        <identifiers>
          <isin value="US9621661043"/>
          <ticker value="WY "/>
        </identifiers>
        <balance>682506</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21157686</valUSD>
        <pctVal>1.5393135585</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>
        <name>The Williams Companies Inc.</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>WILLIAMS COS INC/THE COMMON STOCK USD1.0</title>
        <cusip>969457100</cusip>
        <identifiers>
          <isin value="US9694571004"/>
          <ticker value="WMB "/>
        </identifiers>
        <balance>33800</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1112020</valUSD>
        <pctVal>0.0809042852</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>
        <name>Zimmer Biomet Holdings Inc.</name>
        <lei>2P2YLDVPES3BXQ1FRB91</lei>
        <title>ZIMMER BIOMET HOLDINGS INC COMMON STOCK USD.01</title>
        <cusip>98956P102</cusip>
        <identifiers>
          <isin value="US98956P1021"/>
          <ticker value="ZBH "/>
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        <balance>122384</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15603960</valUSD>
        <pctVal>1.1352558685</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>
        <name>TotalEnergies SE</name>
        <lei>N/A</lei>
        <title>TOTAL SA COMMON STOCK EUR2.5</title>
        <cusip>B15C55900</cusip>
        <identifiers>
          <isin value="FR0000120271"/>
          <ticker value="FP "/>
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        <balance>539956</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.934187"/>
        <valUSD>33894731.08</valUSD>
        <pctVal>2.4659889136</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>
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      <invstOrSec>
        <name>Dr. Ing. h.c. F. Porsche Aktiengesellschaft</name>
        <lei>N/A</lei>
        <title>DR ING HC F PORSCHE AG PREFERENCE</title>
        <cusip>BJN59B909</cusip>
        <identifiers>
          <isin value="DE000PAG9113"/>
          <ticker value="P911 GR"/>
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        <balance>91958</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.934187"/>
        <valUSD>9279803.74</valUSD>
        <pctVal>0.6751460305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Accenture Public Limited Company</name>
        <lei>N/A</lei>
        <title>ACCENTURE PLC COMMON STOCK USD.0000225</title>
        <cusip>G1151C101</cusip>
        <identifiers>
          <isin value="IE00B4BNMY34"/>
          <ticker value="ACN "/>
        </identifiers>
        <balance>8400</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2241456</valUSD>
        <pctVal>0.1630756601</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TE Connectivity Ltd.</name>
        <lei>N/A</lei>
        <title>TE CONNECTIVITY LTD COMMON STOCK CHF.57</title>
        <cusip>H84989104</cusip>
        <identifiers>
          <isin value="CH0102993182"/>
          <ticker value="TEL "/>
        </identifiers>
        <balance>31553</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3622284.4</valUSD>
        <pctVal>0.2635369241</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>
        <name>NXP Semiconductors N.V.</name>
        <lei>N/A</lei>
        <title>NXP SEMICONDUCTORS NV COMMON STOCK</title>
        <cusip>N6596X109</cusip>
        <identifiers>
          <isin value="NL0009538784"/>
          <ticker value="NXPI "/>
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        <balance>9055</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1430961.65</valUSD>
        <pctVal>0.1041086757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sempra Energy</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>SEMPRA ENERGY COMMON STOCK</title>
        <cusip>816851109</cusip>
        <identifiers>
          <isin value="US8168511090"/>
          <ticker value="SRE "/>
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        <balance>180219</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27851044.26</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Siemens Aktiengesellschaft</name>
        <lei>W38RGI023J3WT1HWRP32</lei>
        <title>SIEMENS AG ADR</title>
        <cusip>826197501</cusip>
        <identifiers>
          <isin value="US8261975010"/>
          <ticker value="SIEGY US"/>
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        <balance>209910</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14439708.9</valUSD>
        <pctVal>1.0505515438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>The Southern Company</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>SOUTHERN CO/THE COMMON STOCK USD5.0</title>
        <cusip>842587107</cusip>
        <identifiers>
          <isin value="US8425871071"/>
          <ticker value="SO "/>
        </identifiers>
        <balance>576512</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41168721.92</valUSD>
        <pctVal>2.9952033430</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>
        <name>Southwest Airlines Co.</name>
        <lei>UDTZ87G0STFETI6HGH41</lei>
        <title>SOUTHWEST AIRLINES CO COMMON STOCK USD1.0</title>
        <cusip>844741108</cusip>
        <identifiers>
          <isin value="US8447411088"/>
          <ticker value="LUV "/>
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        <balance>192641</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6486222.47</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Stericycle Inc.</name>
        <lei>B8PTJH2P0AXSWSMP2136</lei>
        <title>STERICYCLE INC COMMON STOCK USD.01</title>
        <cusip>858912108</cusip>
        <identifiers>
          <isin value="US8589121081"/>
          <ticker value="SRCL "/>
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        <balance>166749</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8319107.61</valUSD>
        <pctVal>0.6052512141</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>
        <name>The TJX Companies Inc.</name>
        <lei>V167QI9I69W364E2DY52</lei>
        <title>TJX COS INC/THE COMMON STOCK USD1.0</title>
        <cusip>872540109</cusip>
        <identifiers>
          <isin value="US8725401090"/>
          <ticker value="TJX "/>
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        <balance>141692</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11278683.2</valUSD>
        <pctVal>0.8205731937</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>
        <name>Targa Resources Corp.</name>
        <lei>5493003QENHHS261UR94</lei>
        <title>TARGA RESOURCES CORP COMMON STOCK USD.001</title>
        <cusip>87612G101</cusip>
        <identifiers>
          <isin value="US87612G1013"/>
          <ticker value="TRGP "/>
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        <balance>11246</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>826581</valUSD>
        <pctVal>0.0601373581</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>
        <name>TC Energy Corporation</name>
        <lei>N/A</lei>
        <title>TC ENERGY CORP COMMON STOCK</title>
        <cusip>87807B107</cusip>
        <identifiers>
          <isin value="CA87807B1076"/>
          <ticker value="TRP "/>
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        <balance>390371</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15560188.06</valUSD>
        <pctVal>1.1320712697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Texas Instruments Incorporated</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>TEXAS INSTRUMENTS INC COMMON STOCK USD1.0</title>
        <cusip>882508104</cusip>
        <identifiers>
          <isin value="US8825081040"/>
          <ticker value="TXNN "/>
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        <balance>84017</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13881288.74</valUSD>
        <pctVal>1.0099240516</pctVal>
        <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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>3M Company</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
        <title>3M CO COMMON STOCK USD.01</title>
        <cusip>88579Y101</cusip>
        <identifiers>
          <isin value="US88579Y1010"/>
          <ticker value="MMM "/>
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        <balance>18400</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2206528</valUSD>
        <pctVal>0.1605344964</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>
        <name>TotalEnergies SE</name>
        <lei>N/A</lei>
        <title>TOTAL SA ADR</title>
        <cusip>89151E109</cusip>
        <identifiers>
          <isin value="US89151E1091"/>
          <ticker value="TOT "/>
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        <balance>160573</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9968371.84</valUSD>
        <pctVal>0.7252423507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Tyson Foods Inc.</name>
        <lei>WD6L6041MNRW1JE49D58</lei>
        <title>TYSON FOODS INC COMMON STOCK USD.1</title>
        <cusip>902494103</cusip>
        <identifiers>
          <isin value="US9024941034"/>
          <ticker value="TSN "/>
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        <balance>187142</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11649589.5</valUSD>
        <pctVal>0.8475582381</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>
        <name>U.S. Bancorp</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP COMMON STOCK USD.01</title>
        <cusip>902973304</cusip>
        <identifiers>
          <isin value="US9029733048"/>
          <ticker value="USB "/>
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        <balance>144900</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6319089</valUSD>
        <pctVal>0.4597411728</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>United Parcel Service Inc.</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>UNITED PARCEL SERVICE INC COMMON STOCK USD.01</title>
        <cusip>911312106</cusip>
        <identifiers>
          <isin value="US9113121068"/>
          <ticker value="UPS "/>
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        <balance>155643</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27056979.12</valUSD>
        <pctVal>1.9685127576</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Verizon Communications Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMUNICATIONS INC COMMON STOCK USD.1</title>
        <cusip>92343V104</cusip>
        <identifiers>
          <isin value="US92343V1044"/>
          <ticker value="VZ "/>
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        <balance>222072</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8749636.8</valUSD>
        <pctVal>0.6365740827</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>Biogen Inc.</name>
        <lei>W8J5WZB5IY3K0NDQT671</lei>
        <title>BIOGEN INC COMMON STOCK USD.0005</title>
        <cusip>09062X103</cusip>
        <identifiers>
          <isin value="US09062X1037"/>
          <ticker value="BIIB "/>
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        <balance>15139</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4192291.88</valUSD>
        <pctVal>0.3050074442</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>The Boeing Company</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO/THE COMMON STOCK USD5.0</title>
        <cusip>097023105</cusip>
        <identifiers>
          <isin value="US0970231058"/>
          <ticker value="BA "/>
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        <balance>65034</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12388326.66</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CF Industries Holdings Inc.</name>
        <lei>N/A</lei>
        <title>CF INDUSTRIES HOLDINGS INC COMMON STOCK USD.01</title>
        <cusip>125269100</cusip>
        <identifiers>
          <isin value="US1252691001"/>
          <ticker value="CF "/>
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        <balance>292884</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24953716.8</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cigna Corporation</name>
        <lei>N/A</lei>
        <title>CIGNA CORP COMMON STOCK USD.01</title>
        <cusip>125523100</cusip>
        <identifiers>
          <isin value="US1255231003"/>
          <ticker value="CI "/>
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        <balance>49348</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16350966.32</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CVS Health Corporation</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP COMMON STOCK USD.01</title>
        <cusip>126650100</cusip>
        <identifiers>
          <isin value="US1266501006"/>
          <ticker value="CVS "/>
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        <balance>160391</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14946837.29</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cardinal Health Inc.</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
        <title>CARDINAL HEALTH INC COMMON STOCK</title>
        <cusip>14149Y108</cusip>
        <identifiers>
          <isin value="US14149Y1082"/>
          <ticker value="CAH "/>
        </identifiers>
        <balance>102471</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7876945.77</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>The Carlyle Group Inc.</name>
        <lei>N/A</lei>
        <title>CARLYLE GROUP INC/THE COMMON STOCK USD1.0</title>
        <cusip>14316J108</cusip>
        <identifiers>
          <isin value="US14316J1088"/>
          <ticker value="CG US"/>
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        <balance>82800</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2470752</valUSD>
        <pctVal>0.1797579401</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>
        <name>Centene Corporation</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>CENTENE CORP COMMON STOCK USD.001</title>
        <cusip>15135B101</cusip>
        <identifiers>
          <isin value="US15135B1017"/>
          <ticker value="CNC "/>
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        <balance>105429</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8646232.29</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Chevron Corporation</name>
        <lei>N/A</lei>
        <title>CHEVRON CORP COMMON STOCK USD.75</title>
        <cusip>166764100</cusip>
        <identifiers>
          <isin value="US1667641005"/>
          <ticker value="CVX "/>
        </identifiers>
        <balance>24527</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4402351.23</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Equity Residential</name>
        <lei>5493008RACSH5EP3PI59</lei>
        <title>EQUITY RESIDENTIAL REIT USD.01</title>
        <cusip>29476L107</cusip>
        <identifiers>
          <isin value="US29476L1070"/>
          <ticker value="EQR "/>
        </identifiers>
        <balance>324132</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19123788</valUSD>
        <pctVal>1.3913386444</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>
        <name>Exxon Mobil Corporation</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>EXXON MOBIL CORP COMMON STOCK</title>
        <cusip>30231G102</cusip>
        <identifiers>
          <isin value="US30231G1022"/>
          <ticker value="XOM "/>
        </identifiers>
        <balance>194220</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21422466</valUSD>
        <pctVal>1.5585774536</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>
        <name>Meta Platforms Inc.</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>FACEBOOK INC COMMON STOCK USD.000006</title>
        <cusip>30303M102</cusip>
        <identifiers>
          <isin value="US30303M1027"/>
          <ticker value="FB "/>
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        <balance>56700</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6823278</valUSD>
        <pctVal>0.4964231126</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Fifth Third Bancorp</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>FIFTH THIRD BANCORP COMMON STOCK</title>
        <cusip>316773100</cusip>
        <identifiers>
          <isin value="US3167731005"/>
          <ticker value="FITB "/>
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        <balance>428350</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14054163.5</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fiserv Inc.</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>FISERV INC COMMON STOCK USD.01</title>
        <cusip>337738108</cusip>
        <identifiers>
          <isin value="US3377381088"/>
          <ticker value="FISV "/>
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        <balance>112392</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11359459.44</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Flowserve Corporation</name>
        <lei>6Y0GK87T6V7NJKZJVM41</lei>
        <title>FLOWSERVE CORP COMMON STOCK USD1.25</title>
        <cusip>34354P105</cusip>
        <identifiers>
          <isin value="US34354P1057"/>
          <ticker value="FLS "/>
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        <balance>39087</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1199189.16</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fox Corporation</name>
        <lei>N/A</lei>
        <title>FOX CORP COMMON STOCK USD.01</title>
        <cusip>35137L204</cusip>
        <identifiers>
          <isin value="US35137L2043"/>
          <ticker value="FOX "/>
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        <balance>27914</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>794153.3</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>Franklin Resources Inc.</name>
        <lei>RIFQSET379FOGTEFKS80</lei>
        <title>FRANKLIN RESOURCES INC COMMON STOCK USD.1</title>
        <cusip>354613101</cusip>
        <identifiers>
          <isin value="US3546131018"/>
          <ticker value="BEN "/>
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        <balance>50305</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1327045.9</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>General Electric Company</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>GENERAL ELECTRIC CO COMMON STOCK USD.06</title>
        <cusip>369604301</cusip>
        <identifiers>
          <isin value="US3696043013"/>
          <ticker value="GE US"/>
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        <balance>484051</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>40558633.29</valUSD>
        <pctVal>2.9508167452</pctVal>
        <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>The Goldman Sachs Group Inc.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC/THE COMMON STOCK USD.01</title>
        <cusip>38141G104</cusip>
        <identifiers>
          <isin value="US38141G1040"/>
          <ticker value="GS "/>
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        <balance>48135</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16528596.3</valUSD>
        <pctVal>1.2025271756</pctVal>
        <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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>The Hartford Financial Services Group Inc.</name>
        <lei>IU7C3FTM7Y3BQM112U94</lei>
        <title>HARTFORD FINANCIAL SERVICES GR COMMON STOCK USD.01</title>
        <cusip>416515104</cusip>
        <identifiers>
          <isin value="US4165151048"/>
          <ticker value="HIG "/>
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        <balance>173723</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13173415.09</valUSD>
        <pctVal>0.9584231688</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>Sanofi</name>
        <lei>549300E9PC51EN656011</lei>
        <title>SANOFI COMMON STOCK EUR2.0</title>
        <cusip>567173901</cusip>
        <identifiers>
          <isin value="FR0000120578"/>
          <ticker value="SAN "/>
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        <balance>92123</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.934187"/>
        <valUSD>8883101.24</valUSD>
        <pctVal>0.6462842005</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>
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      </invstOrSec>
      <invstOrSec>
        <name>Mattel Inc.</name>
        <lei>549300VELLG24KHTJ564</lei>
        <title>MATTEL INC COMMON STOCK USD1.0</title>
        <cusip>577081102</cusip>
        <identifiers>
          <isin value="US5770811025"/>
          <ticker value="MAT "/>
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        <balance>499197</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8905674.48</valUSD>
        <pctVal>0.6479265017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Medtronic Public Limited Company</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>MEDTRONIC PLC COMMON STOCK USD.1</title>
        <cusip>585055106</cusip>
        <identifiers>
          <isin value="IE00BTN1Y115"/>
          <ticker value="MDT "/>
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        <balance>156088</balance>
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        <curCd>USD</curCd>
        <valUSD>12131159.36</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Merck and Co. Inc.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MERCK and CO INC COMMON STOCK USD.5</title>
        <cusip>58933Y105</cusip>
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          <isin value="US58933Y1055"/>
          <ticker value="MRK "/>
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        <balance>116921</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12972384.95</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MetLife Inc.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>METLIFE INC COMMON STOCK USD.01</title>
        <cusip>59156R108</cusip>
        <identifiers>
          <isin value="US59156R1086"/>
          <ticker value="MET "/>
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        <balance>295457</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21382223.09</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Microsoft Corporation</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>MICROSOFT CORP COMMON STOCK USD.00000625</title>
        <cusip>594918104</cusip>
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          <isin value="US5949181045"/>
          <ticker value="MSFT "/>
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        <balance>71043</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17037532.26</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mondelez International Inc.</name>
        <lei>549300DV9GIB88LZ5P30</lei>
        <title>MONDELEZ INTERNATIONAL INC COMMON STOCK</title>
        <cusip>609207105</cusip>
        <identifiers>
          <isin value="US6092071058"/>
          <ticker value="MDLZ "/>
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        <balance>29265</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1950512.25</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>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY COMMON STOCK USD.01</title>
        <cusip>617446448</cusip>
        <identifiers>
          <isin value="US6174464486"/>
          <ticker value="MS "/>
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        <balance>118945</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10112703.9</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>News Corporation</name>
        <lei>549300ITS31QK8VRBQ14</lei>
        <title>NEWS CORP COMMON STOCK USD.01</title>
        <cusip>65249B109</cusip>
        <identifiers>
          <isin value="US65249B1098"/>
          <ticker value="NWSA "/>
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        <balance>1172237</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21334713.4</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NextEra Energy Inc.</name>
        <lei>N/A</lei>
        <title>NEXTERA ENERGY INC PREFERRED STOCK 09/25 6.926</title>
        <cusip>65339F713</cusip>
        <identifiers>
          <isin value="US65339F7134"/>
          <ticker value="NEE"/>
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        <balance>56812</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2851394.28</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NextEra Energy Inc.</name>
        <lei>N/A</lei>
        <title>NEXTERA ENERGY INC PREFERRED STOCK</title>
        <cusip>65339F770</cusip>
        <identifiers>
          <isin value="US65339F7704"/>
          <ticker value="NEE"/>
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        <balance>91279</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4627845.3</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Becton Dickinson and Company</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
        <title>BECTON DICKINSON AND CO PREFERRED STOCK 06/23 6</title>
        <cusip>075887406</cusip>
        <identifiers>
          <isin value="US0758874061"/>
          <ticker value="BDX"/>
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        <balance>106565</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5336775.2</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Best Buy Co. Inc.</name>
        <lei>HL5XPTVRV0O8TUN5LL90</lei>
        <title>BEST BUY CO INC COMMON STOCK USD.1</title>
        <cusip>086516101</cusip>
        <identifiers>
          <isin value="US0865161014"/>
          <ticker value="BBY "/>
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        <balance>72900</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5847309</valUSD>
        <pctVal>0.4254171285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hess Corporation</name>
        <lei>UASVRYNXNK17ULIGK870</lei>
        <title>HESS CORP COMMON STOCK USD1.0</title>
        <cusip>42809H107</cusip>
        <identifiers>
          <isin value="US42809H1077"/>
          <ticker value="HES "/>
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        <balance>85930</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12186592.6</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Huntington Bancshares Incorporated</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>HUNTINGTON BANCSHARES INC/OH COMMON STOCK USD.01</title>
        <cusip>446150104</cusip>
        <identifiers>
          <isin value="US4461501045"/>
          <ticker value="HBAN "/>
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        <balance>1282556</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18084039.6</valUSD>
        <pctVal>1.3156924320</pctVal>
        <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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>International Flavors and Fragrances Inc.</name>
        <lei>BZLRL03D3GPGMOGFO832</lei>
        <title>INTERNATIONAL FLAVORS and FRAGRA COMMON STOCK USD.125</title>
        <cusip>459506101</cusip>
        <identifiers>
          <isin value="US4595061015"/>
          <ticker value="IFF US"/>
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        <balance>87328</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9155467.52</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>International Paper Company</name>
        <lei>824LMFJDH41EY779Q875</lei>
        <title>INTERNATIONAL PAPER CO COMMON STOCK USD1.0</title>
        <cusip>460146103</cusip>
        <identifiers>
          <isin value="US4601461035"/>
          <ticker value="IP "/>
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        <balance>555197</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19226472.11</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JPMorgan Chase and Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE and CO COMMON STOCK USD1.0</title>
        <cusip>46625H100</cusip>
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          <isin value="US46625H1005"/>
          <ticker value="JPM "/>
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        <balance>74782</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10028266.2</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Johnson and Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>JOHNSON + JOHNSON COMMON STOCK USD1.0</title>
        <cusip>478160104</cusip>
        <identifiers>
          <isin value="US4781601046"/>
          <ticker value="JNJ "/>
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        <balance>155257</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27426149.05</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kimberly-Clark Corporation</name>
        <lei>MP3J6QPYPGN75NVW2S34</lei>
        <title>KIMBERLY-CLARK CORP COMMON STOCK USD1.25</title>
        <cusip>494368103</cusip>
        <identifiers>
          <isin value="US4943681035"/>
          <ticker value="KMB "/>
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        <balance>156813</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21287364.75</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Kohl's Corporation</name>
        <lei>549300JF6LPRTRJ0FH50</lei>
        <title>KOHL'S CORP COMMON STOCK USD.01</title>
        <cusip>500255104</cusip>
        <identifiers>
          <isin value="US5002551043"/>
          <ticker value="KSS "/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6170367.75</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>L3Harris Technologies Inc.</name>
        <lei>549300UTE50ZMDBG8A20</lei>
        <title>L3HARRIS TECHNOLOGIES INC COMMON STOCK USD1.0</title>
        <cusip>502431109</cusip>
        <identifiers>
          <isin value="US5024311095"/>
          <ticker value="0L3HL "/>
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        <balance>104090</balance>
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        <curCd>USD</curCd>
        <valUSD>21672578.9</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Las Vegas Sands Corp.</name>
        <lei>N/A</lei>
        <title>LAS VEGAS SANDS CORP COMMON STOCK USD.001</title>
        <cusip>517834107</cusip>
        <identifiers>
          <isin value="US5178341070"/>
          <ticker value="LVS "/>
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        <curCd>USD</curCd>
        <valUSD>13640439.34</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>Loews Corporation</name>
        <lei>R8V1FN4M5ITGZOG7BS19</lei>
        <title>LOEWS CORP COMMON STOCK USD.01</title>
        <cusip>540424108</cusip>
        <identifiers>
          <isin value="US5404241086"/>
          <ticker value="L "/>
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        <balance>237946</balance>
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        <curCd>USD</curCd>
        <valUSD>13879390.18</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EOG Resources Inc.</name>
        <lei>XWTZDRYZPBUHIQBKDB46</lei>
        <title>EOG RESOURCES INC COMMON STOCK USD.01</title>
        <cusip>26875P101</cusip>
        <identifiers>
          <isin value="US26875P1012"/>
          <ticker value="EOG "/>
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        <balance>118771</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15383219.92</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Enbridge Inc.</name>
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        <title>ENBRIDGE INC COMMON STOCK</title>
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          <isin value="CA29250N1050"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Equitable Holdings Inc.</name>
        <lei>N/A</lei>
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          <isin value="US29452E1010"/>
          <ticker value="EQH "/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ATandT Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
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          <isin value="US00206R1023"/>
          <ticker value="T "/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AbbVie Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBVIE INC COMMON STOCK USD.01</title>
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          <isin value="US00287Y1091"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Ameren Corporation</name>
        <lei>XRZQ5S7HYJFPHJ78L959</lei>
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          <isin value="US0236081024"/>
          <ticker value="AEE "/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American International Group Inc.</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>AMERICAN INTERNATIONAL GROUP I COMMON STOCK USD2.5</title>
        <cusip>026874784</cusip>
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          <isin value="US0268747849"/>
          <ticker value="AIG "/>
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        <balance>540580</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Elevance Health Inc.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>ANTHEM INC COMMON STOCK USD.01</title>
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          <isin value="US0367521038"/>
          <ticker value="ANTM "/>
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        <balance>62060</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31834918.2</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Apollo Global Management Inc.</name>
        <lei>N/A</lei>
        <title>APOLLO GLOBAL MANAGEMENT INC COMMON STOCK USD.0001</title>
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          <isin value="US03769M1062"/>
          <ticker value="APO US"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3049162</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Applied Materials Inc.</name>
        <lei>41BNNE1AFPNAZELZ6K07</lei>
        <title>APPLIED MATERIALS INC COMMON STOCK USD.01</title>
        <cusip>038222105</cusip>
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          <isin value="US0382221051"/>
          <ticker value="AMAT "/>
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        <curCd>USD</curCd>
        <valUSD>10023323.4</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AstraZeneca PLC</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>ASTRAZENECA PLC ADR</title>
        <cusip>046353108</cusip>
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          <isin value="US0463531089"/>
          <ticker value="AZN "/>
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        <balance>116332</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7887309.6</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bank of America Corporation</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP COMMON STOCK USD.01</title>
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          <isin value="US0605051046"/>
          <ticker value="BAC "/>
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        <balance>228486</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7567456.32</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Becton Dickinson and Company</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
        <title>BECTON DICKINSON AND CO COMMON STOCK USD1.0</title>
        <cusip>075887109</cusip>
        <identifiers>
          <isin value="US0758871091"/>
          <ticker value="BDX "/>
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        <balance>87365</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22216919.5</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NiSource Inc.</name>
        <lei>N/A</lei>
        <title>NISOURCE INC PREFERRED STOCK 03/24 7.75</title>
        <cusip>65473P121</cusip>
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          <isin value="US65473P1214"/>
          <ticker value="NI"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4302534.42</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Samsung Electronics Co. Ltd.</name>
        <lei>N/A</lei>
        <title>SAMSUNG ELECTRONICS CO LTD COMMON STOCK KRW100.0</title>
        <cusip>677172009</cusip>
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          <isin value="KR7005930003"/>
          <ticker value="005930 "/>
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        <currencyConditional curCd="KRW" exchangeRt="1264.5"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>PGandE Corporation</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>PGandE CORP COMMON STOCK</title>
        <cusip>69331C108</cusip>
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          <isin value="US69331C1080"/>
          <ticker value="PCG "/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>The PNC Financial Services Group Inc.</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC FINANCIAL SERVICES GROUP I COMMON STOCK USD5.0</title>
        <cusip>693475105</cusip>
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          <isin value="US6934751057"/>
          <ticker value="PNC "/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2638545.64</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PACCAR Inc</name>
        <lei>KDTEY8BWE486IKZ3CC07</lei>
        <title>PACCAR INC COMMON STOCK USD1.0</title>
        <cusip>693718108</cusip>
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          <isin value="US6937181088"/>
          <ticker value="PCAR "/>
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        <curCd>USD</curCd>
        <valUSD>1992563.01</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Pfizer Inc.</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>PFIZER INC COMMON STOCK USD.05</title>
        <cusip>717081103</cusip>
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          <ticker value="PFE "/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Philip Morris International Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTERNATIONAL IN COMMON STOCK</title>
        <cusip>718172109</cusip>
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          <ticker value="PM "/>
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        <curCd>USD</curCd>
        <valUSD>23820178.34</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Qualcomm Incorporated</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM INC COMMON STOCK USD.0001</title>
        <cusip>747525103</cusip>
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          <ticker value="QCOM "/>
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        <curCd>USD</curCd>
        <valUSD>28522613.72</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>RPM International Inc.</name>
        <lei>549300TJCKW4BRXPJ474</lei>
        <title>RPM INTERNATIONAL INC COMMON STOCK USD.01</title>
        <cusip>749685103</cusip>
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          <isin value="US7496851038"/>
          <ticker value="RPM "/>
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        <curCd>USD</curCd>
        <valUSD>4258565</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Raymond James Financial Inc.</name>
        <lei>RGUZHJ05YTITL6D76949</lei>
        <title>RAYMOND JAMES FINANCIAL INC COMMON STOCK USD.01</title>
        <cusip>754730109</cusip>
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          <isin value="US7547301090"/>
          <ticker value="RJF "/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Chubb Limited</name>
        <lei>E0JAN6VLUDI1HITHT809</lei>
        <title>CHUBB LTD COMMON STOCK</title>
        <cusip>171232101</cusip>
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          <isin value="CH0044328745"/>
          <ticker value="CB "/>
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        <balance>123281</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27195788.6</valUSD>
        <pctVal>1.9786117502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cisco Systems Inc.</name>
        <lei>N/A</lei>
        <title>CISCO SYSTEMS INC COMMON STOCK USD.001</title>
        <cusip>17275R102</cusip>
        <identifiers>
          <isin value="US17275R1023"/>
          <ticker value="CSCO "/>
        </identifiers>
        <balance>114769</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5467595.16</valUSD>
        <pctVal>0.3977912973</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rayonier Inc.</name>
        <lei>HGV8VDVNL0W6SF2U9C50</lei>
        <title>RAYONIER INC REIT</title>
        <cusip>754907103</cusip>
        <identifiers>
          <isin value="US7549071030"/>
          <ticker value="RYN "/>
        </identifiers>
        <balance>333404</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10988995.84</valUSD>
        <pctVal>0.7994971799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROWE T PRICE GOV RES FD 20340919 00000.0000000000</name>
        <lei>N/A</lei>
        <title>ROWE T PRICE GOV RES FD 20340919 00000.0000000000</title>
        <cusip>76105Y109</cusip>
        <identifiers>
          <isin value="US76105Y1091"/>
          <ticker value="76105Y109010"/>
        </identifiers>
        <balance>11083137.75</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11083137.75</valUSD>
        <pctVal>0.8063464128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street Bank and Trust Company</name>
        <lei>571474TGEMMWANRLN572</lei>
        <title>SSC GOVERNMENT MM GVMXX</title>
        <cusip>7839989D1</cusip>
        <identifiers>
          <ticker value="7839989D1010"/>
        </identifiers>
        <balance>3000000.01</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3000000.01</valUSD>
        <pctVal>0.2182630317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sanofi</name>
        <lei>549300E9PC51EN656011</lei>
        <title>SANOFI ADR</title>
        <cusip>80105N105</cusip>
        <identifiers>
          <isin value="US80105N1054"/>
          <ticker value="SNY "/>
        </identifiers>
        <balance>97094</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4702262.42</valUSD>
        <pctVal>0.3421100161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>The Charles Schwab Corporation</name>
        <lei>N/A</lei>
        <title>CHARLES SCHWAB CORP/THE COMMON STOCK USD.01</title>
        <cusip>808513105</cusip>
        <identifiers>
          <isin value="US8085131055"/>
          <ticker value="SCHW "/>
        </identifiers>
        <balance>85515</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7119978.9</valUSD>
        <pctVal>0.5180093918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Returns are reported without deduction of sales loads and redemption fees, if applicable." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2023-01-30</ncom:dateSigned>
      <ncom:nameOfApplicant>John Hancock Variable Insurance Trust</ncom:nameOfApplicant>
      <ncom:signature>/s/Salvatore Schiavone</ncom:signature>
      <ncom:signerName>Salvatore Schiavone</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
