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          <ccc>XXXXXXXX</ccc>
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        <classId>C000021483</classId>
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      <regFileNumber>811-04419</regFileNumber>
      <regCik>0000778207</regCik>
      <regLei>5493000QR1WGXIM5V222</regLei>
      <regStreet1>1801 CALIFORNIA STREET</regStreet1>
      <regStreet2>SUITE 5200</regStreet2>
      <regCity>DENVER</regCity>
      <regStateConditional regCountry="US" regState="US-CO"/>
      <regZipOrPostalCode>80202</regZipOrPostalCode>
      <regPhone>720-493-4256</regPhone>
      <seriesName>Transamerica Multi-Managed Balanced VP</seriesName>
      <seriesId>S000007919</seriesId>
      <seriesLei>549300WK7PLJ4S5HO711</seriesLei>
      <repPdEnd>2025-12-31</repPdEnd>
      <repPdDate>2025-03-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
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      <totLiabs>120180485.32</totLiabs>
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      <assetsInvested>0.00000000</assetsInvested>
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        <name>United States Treasury</name>
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        <name>Onslow Bay Financial LLC</name>
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        <name>Salesforce Inc</name>
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        <name>Intuit Inc</name>
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        <name>Dow Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CIGNA GROUP/THE</name>
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          <maturityDt>2030-03-15</maturityDt>
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        <name>JPMORGAN CHASE &amp; CO</name>
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        <name>SHELL INTERNATIONAL FIN</name>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-12</maturityDt>
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        <name>United Parcel Service Inc</name>
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        <name>Fannie Mae</name>
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        <title>Federal National Mortgage Association</title>
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        <name>Accenture PLC</name>
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        <invCountry>IE</invCountry>
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        <name>Petroleos Mexicanos</name>
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        <name>ROPER TECHNOLOGIES INC</name>
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        <name>CLEVELAND ELECTRIC ILLUM</name>
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        <name>LLOYDS BANKING GROUP PLC</name>
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        <invCountry>GB</invCountry>
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        <name>BANK OF AMERICA CORP</name>
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        <name>Fannie Mae</name>
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        <name>Western Digital Corp</name>
        <lei>549300QQXOOYEF89IC56</lei>
        <title>Western Digital Corp.</title>
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        <name>Colombia Government International Bonds</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia Government International Bonds</title>
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        <balance>615000.00000000</balance>
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        <invCountry>CO</invCountry>
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        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GENERAL ELECTRIC CO</name>
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        <name>Vistra Corp</name>
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        <name>Welltower Inc</name>
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        <name>Concord Minutemen Capital Co LLC</name>
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        <name>CROWDSTRIKE HOLDINGS INC</name>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>Chipotle Mexican Grill Inc</name>
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        <name>Hertz Vehicle Financing LLC</name>
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        <name>Progressive Corp/The</name>
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        <name>UBS GROUP AG</name>
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        <name>AERCAP IRELAND CAP/GLOBA</name>
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        <name>Fannie Mae</name>
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        <name>Dominion Energy Inc</name>
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        <name>Mondelez International Inc</name>
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        <name>BMW US Capital LLC</name>
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        <name>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>Johnson &amp; Johnson</title>
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        <name>Columbia Funding Co LLC</name>
        <lei>549300O1V8MCLCRCFD82</lei>
        <title>Columbia Funding Co. LLC</title>
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        <name>UnitedHealth Group Inc</name>
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        <name>Philip Morris International Inc</name>
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        <name>Columbia Funding Co LLC</name>
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        <name>United Rentals Inc</name>
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        <name>Petroleos Mexicanos</name>
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        <name>VITERRA FINANCE BV</name>
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        <invCountry>NL</invCountry>
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        <name>JPMORGAN CHASE &amp; CO</name>
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        <name>Fannie Mae</name>
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        <name>United States Treasury</name>
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        <name>United States Treasury</name>
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        <name>United States Treasury</name>
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        <name>ARCELORMITTAL SA</name>
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        <invCountry>LU</invCountry>
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      <invstOrSec>
        <name>TRUIST FINANCIAL CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PHILIP MORRIS INTL INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HUNTINGTON INGALLS INDUS</name>
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        <title>Huntington Ingalls Industries, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-08-16</maturityDt>
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      <invstOrSec>
        <name>BAT CAPITAL CORP</name>
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        <title>BAT Capital 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>2034-02-20</maturityDt>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810TB4</cusip>
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          <isin value="US912810TB44"/>
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        <balance>766000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-15</maturityDt>
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      <invstOrSec>
        <name>Freddie Mac</name>
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        <title>Federal Home Loan Mortgage Corp.</title>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-07-01</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>AbbVie Inc</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</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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      <invstOrSec>
        <name>Mainbeach Funding LLC</name>
        <lei>635400CWJW29VERCBI90</lei>
        <title>Mainbeach Funding LLC</title>
        <cusip>56037BV43</cusip>
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        <balance>1175000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-08-04</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1217067.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-02</maturityDt>
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          <annualizedRt>7.33000000</annualizedRt>
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      <invstOrSec>
        <name>Duke Energy Corp</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
        <cusip>26441CAT2</cusip>
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        <balance>1542000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-09-01</maturityDt>
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          <annualizedRt>3.75000000</annualizedRt>
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        <name>INTESA SANPAOLO SPA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-21</maturityDt>
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        <name>LKQ CORP</name>
        <lei>DS830JTTZQN6GK0I2E41</lei>
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        <balance>519000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2033-06-15</maturityDt>
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        <name>TRUIST FINANCIAL CORP</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
        <cusip>89788MAQ5</cusip>
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        <balance>463000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>Seagate Technology Holdings PLC</name>
        <lei>635400RUXIFEZSRU8X70</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810RK6</cusip>
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        <balance>5429000.00000000</balance>
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        <name>Ventas Inc</name>
        <lei>ORQTRC074CWLT3DKHT41</lei>
        <title>Ventas, Inc.</title>
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        <name>Mont Blanc Capital Corp</name>
        <lei>549300NC8BUDZTUFIQ67</lei>
        <title>Mont Blanc Capital Corp.</title>
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        <balance>6250000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-08-15</maturityDt>
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        <name>ANGLO AMERICAN CAPITAL</name>
        <lei>TINT358G1SSHR3L3PW36</lei>
        <title>Anglo American Capital PLC</title>
        <cusip>034863AU4</cusip>
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          <isin value="US034863AU41"/>
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        <balance>845000.00000000</balance>
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        <valUSD>840297.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>United States Treasury</name>
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        <name>WEYERHAEUSER CO</name>
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        <name>Toyota Motor Credit Corp</name>
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        <name>State Street Global Advisors</name>
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        <name>United States Treasury</name>
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        <name>Chubb Ltd</name>
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        <name>Metlife Securitization Trust</name>
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      <invstOrSec>
        <name>Hin Timeshare Trust</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Sheffield Receivables Co LLC</name>
        <lei>549300MYF6MOTU9T3G29</lei>
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        <curCd>USD</curCd>
        <valUSD>5580906.40000000</valUSD>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>GE HEALTHCARE TECH INC</name>
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        <title>GE HealthCare Technologies, Inc.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DELL INT LLC / EMC CORP</name>
        <lei>N/A</lei>
        <title>Dell International LLC/EMC Corp.</title>
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          <isin value="US24703DBQ34"/>
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        <balance>1170000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-02-01</maturityDt>
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      <invstOrSec>
        <name>GOLDMAN SACHS GROUP INC</name>
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        <title>Goldman Sachs Group, Inc.</title>
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          <isin value="US38141GYN86"/>
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        <balance>1314000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3140XKUQ1</cusip>
        <identifiers>
          <isin value="US3140XKUQ16"/>
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        <balance>2521535.77000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2477475.71000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>NXP BV/NXP FDG/NXP USA</name>
        <lei>N/A</lei>
        <title>NXP BV/NXP Funding LLC/NXP USA, Inc.</title>
        <cusip>62954HAY4</cusip>
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          <isin value="US62954HAY45"/>
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        <balance>432000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>401696.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>XX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>31418MWM0</cusip>
        <identifiers>
          <isin value="US31418MWM09"/>
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        <balance>116872.29000000</balance>
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        <curCd>USD</curCd>
        <valUSD>116598.01000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CARGILL INC</name>
        <lei>QXZYQNMR4JZ5RIRN4T31</lei>
        <title>Cargill, Inc.</title>
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        <balance>903000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>899712.63000000</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>2035-02-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.13000000</annualizedRt>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corp.</title>
        <cusip>3128M9WN8</cusip>
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          <isin value="US3128M9WN87"/>
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        <balance>34525.32000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35154.74000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>ALLSTATE CORP</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>Allstate Corp.</title>
        <cusip>020002BL4</cusip>
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          <isin value="US020002BL42"/>
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        <balance>1533000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1555290.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.05000000</annualizedRt>
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      <invstOrSec>
        <name>AMGEN INC</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
        <cusip>031162DA5</cusip>
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          <isin value="US031162DA53"/>
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        <balance>574000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>409950.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</annualizedRt>
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      <invstOrSec>
        <name>UNITEDHEALTH GROUP INC</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc.</title>
        <cusip>91324PEX6</cusip>
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        <balance>847000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>762060.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.20000000</annualizedRt>
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      <invstOrSec>
        <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>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PPG Industries Inc</name>
        <lei>549300BKPEP01R3V6C59</lei>
        <title>PPG Industries, Inc.</title>
        <cusip>693506107</cusip>
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          <isin value="US6935061076"/>
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        <balance>18633.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>New Residential Mortgage Loan Trust</title>
        <cusip>64829DAG1</cusip>
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          <isin value="US64829DAG16"/>
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        <balance>77023.10000000</balance>
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        <curCd>USD</curCd>
        <valUSD>73855.38000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>M&amp;T BANK CORPORATION</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T Bank Corp.</title>
        <cusip>55261FAS3</cusip>
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          <isin value="US55261FAS39"/>
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        <balance>466000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>501363.71000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.41000000</annualizedRt>
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      <invstOrSec>
        <name>AVIATION CAPITAL GROUP</name>
        <lei>549300ODEK8HY3445C77</lei>
        <title>Aviation Capital Group LLC</title>
        <cusip>05369AAK7</cusip>
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          <isin value="US05369AAK79"/>
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        <balance>588000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>574105.31000000</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>TENN VALLEY AUTHORITY</name>
        <lei>549300HE1ISW43LNKM54</lei>
        <title>Tennessee Valley Authority</title>
        <cusip>880591FB3</cusip>
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          <isin value="US880591FB36"/>
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        <curCd>USD</curCd>
        <valUSD>988890.41000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-01</maturityDt>
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      <invstOrSec>
        <name>Sierra Receivables Funding Co LLC</name>
        <lei>N/A</lei>
        <title>Sierra Timeshare Receivables Funding LLC</title>
        <cusip>82652QAA9</cusip>
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          <isin value="US82652QAA94"/>
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        <curCd>USD</curCd>
        <valUSD>356105.25000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-11-20</maturityDt>
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          <annualizedRt>0.99000000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810UF3</cusip>
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          <isin value="US912810UF39"/>
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        <balance>976000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>973560.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.63000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>New Residential Mortgage Loan Trust</title>
        <cusip>64829JAA1</cusip>
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          <isin value="US64829JAA16"/>
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        <balance>387469.02000000</balance>
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        <curCd>USD</curCd>
        <valUSD>374170.08000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>EQUIFAX INC</name>
        <lei>5493004MCF8JDC86VS77</lei>
        <title>Equifax, Inc.</title>
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          <isin value="US294429AV70"/>
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        <balance>932000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>943720.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Nucor Corp</name>
        <lei>549300GGJCRSI2TIEJ46</lei>
        <title>Nucor Corp.</title>
        <cusip>670346105</cusip>
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          <isin value="US6703461052"/>
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        <balance>6112.00000000</balance>
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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>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F060642</cusip>
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          <isin value="US01F0606420"/>
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        <balance>9363000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9501473.06000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Glencove Funding LLC</name>
        <lei>549300XUUQZO7I38ZR06</lei>
        <title>Glencove Funding LLC</title>
        <cusip>37828VRB1</cusip>
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          <isin value="US37828VRB17"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5992006.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-11</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>PNC FINANCIAL SERVICES</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group, Inc.</title>
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          <isin value="US693475BS39"/>
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        <balance>905000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-18</maturityDt>
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      <invstOrSec>
        <name>American Tower Trust I</name>
        <lei>5493004YGM0MQZJOEJ36</lei>
        <title>American Tower Trust #1</title>
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          <isin value="US03027WAK80"/>
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        <balance>716000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-23</maturityDt>
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          <annualizedRt>3.65000000</annualizedRt>
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      <invstOrSec>
        <name>Medtronic PLC</name>
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        <title>Medtronic PLC</title>
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        <balance>49286.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CVS HEALTH CORP</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp.</title>
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        <balance>1078000.00000000</balance>
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        <valUSD>1087201.81000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-03-10</maturityDt>
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        <name>Truist Financial Corp</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
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          <isin value="US89832Q1094"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>AMER AIRLINE 16-2 AA PTT</name>
        <lei>N/A</lei>
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          <isin value="US023765AA88"/>
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        <balance>427449.39000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <title>Wells Fargo &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Advanced Micro Devices Inc</name>
        <lei>R2I72C950HOYXII45366</lei>
        <title>Advanced Micro Devices, Inc.</title>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <name>PepsiCo Inc</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PepsiCo, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Texas Instruments Inc</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>Texas Instruments, Inc.</title>
        <cusip>882508104</cusip>
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        <balance>33251.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>United States Treasury</name>
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        <name>CME Group Inc</name>
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        <name>SYNOPSYS INC</name>
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        <name>Onslow Bay Financial LLC</name>
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      <invstOrSec>
        <name>Sierra Receivables Funding Co LLC</name>
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          <maturityDt>2040-04-20</maturityDt>
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        <name>KROGER CO</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-09-15</maturityDt>
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        <name>Alphabet Inc</name>
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        <title>Alphabet, Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>WP CAREY INC</name>
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        <name>COPT DEFENSE PROP LP</name>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
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        <name>Prologis Inc</name>
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        <name>321 Henderson Receivables LLC</name>
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        <name>Visa Inc</name>
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        <name>Hewlett Packard Enterprise Co</name>
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        <name>Southern Co/The</name>
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        <name>MORGAN STANLEY</name>
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        <title>Morgan Stanley</title>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <name>Lennar Corp</name>
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        <name>Lam Research Corp</name>
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        <title>Lam Research Corp.</title>
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        <name>Baker Hughes Co</name>
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        <name>NXP Semiconductors NV</name>
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        <name>Leidos Holdings Inc</name>
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        <name>PUBLIC SERVICE ELECTRIC</name>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <name>M&amp;T BANK CORPORATION</name>
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        <name>GoodLeap Sustainable Home Improvement Loan Trust</name>
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        <name>FOUNDRY JV HOLDCO LLC</name>
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        <name>321 Henderson Receivables LLC</name>
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        <name>SABINE PASS LIQUEFACTION</name>
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        <name>321 Henderson Receivables LLC</name>
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        <name>Lowe's Cos Inc</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos., Inc.</title>
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        <name>ONEOK INC</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
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      <invstOrSec>
        <name>APTIV SWISS HOLDINGS LTD</name>
        <lei>N/A</lei>
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        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SENSATA TECH INC</name>
        <lei>5493002MMDDCUNV7NY90</lei>
        <title>Sensata Technologies, Inc.</title>
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          <isin value="US81728UAA25"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Royal Caribbean Cruises Ltd</name>
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        <title>Royal Caribbean Cruises Ltd.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LPL HOLDINGS INC</name>
        <lei>549300Z5YF8CCRMYUL26</lei>
        <title>LPL Holdings, Inc.</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BRISTOL-MYERS SQUIBB CO</name>
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        <title>Bristol-Myers Squibb Co.</title>
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          <isin value="US110122EL84"/>
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        <balance>383000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2064-02-22</maturityDt>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810UB2</cusip>
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          <isin value="US912810UB25"/>
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        <balance>1090000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-05-15</maturityDt>
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        <name>Microsoft Corp</name>
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        <title>Microsoft Corp.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>INGERSOLL RAND INC</name>
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        <title>Ingersoll Rand, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.45000000</annualizedRt>
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        <name>BANK OF AMERICA CORP</name>
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        <title>Bank of America Corp.</title>
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        <balance>3092000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-15</maturityDt>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation-Protected Indexed Bonds</title>
        <cusip>912810PZ5</cusip>
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          <isin value="US912810PZ57"/>
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        <name>TEXTRON INC</name>
        <lei>3PPKBHUG1HD6BO7RNR87</lei>
        <title>Textron, Inc.</title>
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        <name>META PLATFORMS INC</name>
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        <title>Meta Platforms, Inc.</title>
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        <name>VERALTO CORP</name>
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        <title>Veralto Corp.</title>
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        <name>Chase Issuance Trust</name>
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        <name>Aptiv PLC</name>
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        <assetCat>EC</assetCat>
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        <invCountry>JE</invCountry>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810SX7</cusip>
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        <name>United States Treasury</name>
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        <name>Fannie Mae</name>
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        <name>United States Treasury</name>
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        <name>NVIDIA Corp</name>
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        <name>Best Buy Co Inc</name>
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        <name>Fannie Mae</name>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>Freddie Mac</name>
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        <name>Alphabet Inc</name>
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      <invstOrSec>
        <name>AERCAP IRELAND CAP/GLOBA</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LABORATORY CORP OF AMER</name>
        <lei>OZ7UA8IXAIFILY2VZH07</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOEING CO/THE</name>
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        <title>Boeing Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cigna Group/The</name>
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        <title>Cigna Group</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>General Motors Co</name>
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        <title>General Motors Co.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GE HEALTHCARE TECH INC</name>
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        <title>GE HealthCare Technologies, Inc.</title>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
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          <isin value="US31410KFF66"/>
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        <fairValLevel>2</fairValLevel>
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        <name>UMBS, TBA</name>
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          <isin value="US01F0506430"/>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Onslow Bay Financial LLC</name>
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        <title>OBX Trust</title>
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          <isin value="US67448NAA63"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>31416TL56</cusip>
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          <isin value="US31416TL560"/>
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        <name>Walt Disney Co/The</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>Walt Disney Co.</title>
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        <name>WESTERN MIDSTREAM OPERAT</name>
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        <title>Western Midstream Operating LP</title>
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        <name>Citigroup Mortgage Loan Trust Inc</name>
        <lei>549300R1KUK063S4I339</lei>
        <title>Citigroup Mortgage Loan Trust, Inc.</title>
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        <name>Linde PLC</name>
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        <assetCat>EC</assetCat>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US91282CLM19"/>
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        <name>PACIFIC GAS &amp; ELECTRIC</name>
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        <title>Pacific Gas &amp; Electric Co.</title>
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        <name>CVS HEALTH CORP</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp.</title>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <balance>2611000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-11-15</maturityDt>
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        <name>BXG Receivables Note Trust</name>
        <lei>N/A</lei>
        <title>BXG Receivables Note Trust</title>
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          <isin value="US123919AA08"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-11-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Walmart Inc</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart, Inc.</title>
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          <isin value="US9311421039"/>
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        <balance>24911.00000000</balance>
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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>CONSTELLATION INSURC INC</name>
        <lei>549300K609B872PZT291</lei>
        <title>Constellation Insurance, Inc.</title>
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          <isin value="US67740QAH92"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-24</maturityDt>
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          <annualizedRt>6.80000000</annualizedRt>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust</title>
        <cusip>89177BAA3</cusip>
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          <isin value="US89177BAA35"/>
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        <balance>1455740.66000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-03-25</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MVW Owner Trust</name>
        <lei>N/A</lei>
        <title>MVW Owner Trust</title>
        <cusip>55389PAA7</cusip>
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          <isin value="US55389PAA75"/>
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        <balance>70853.18000000</balance>
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        <curCd>USD</curCd>
        <valUSD>70653.86000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.89000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>New Residential Mortgage Loan Trust</title>
        <cusip>64828MAA5</cusip>
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          <isin value="US64828MAA53"/>
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        <balance>585186.16000000</balance>
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        <curCd>USD</curCd>
        <valUSD>562252.95000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2057-04-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Coca-Cola Co/The</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>Coca-Cola Co.</title>
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          <isin value="US1912161007"/>
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        <balance>77443.00000000</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>31416CCW4</cusip>
        <identifiers>
          <isin value="US31416CCW47"/>
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        <balance>271508.39000000</balance>
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        <curCd>USD</curCd>
        <valUSD>267524.24000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828Z94</cusip>
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          <isin value="US912828Z948"/>
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        <balance>5582000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4972777.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F022642</cusip>
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          <isin value="US01F0226427"/>
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        <balance>27936000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23181616.02000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DTE Electric Co</name>
        <lei>9N0FWODEJVKHC2DYLO03</lei>
        <title>DTE Electric Co.</title>
        <cusip>23338VAD8</cusip>
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          <isin value="US23338VAD82"/>
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        <balance>1499000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1276113.54000000</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>2044-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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      <invstOrSec>
        <name>SYNOPSYS INC</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
        <title>Synopsys, Inc.</title>
        <cusip>871607AG2</cusip>
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          <isin value="US871607AG29"/>
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        <balance>427000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>422240.39000000</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>2055-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PACCAR Inc</name>
        <lei>KDTEY8BWE486IKZ3CC07</lei>
        <title>PACCAR, Inc.</title>
        <cusip>693718108</cusip>
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          <isin value="US6937181088"/>
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        <balance>18828.00000000</balance>
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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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        <name>Exxon Mobil Corp</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp.</title>
        <cusip>30231G102</cusip>
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        <balance>114302.00000000</balance>
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        <valUSD>13593936.86000000</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>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CFM8</cusip>
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          <isin value="US91282CFM82"/>
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        <balance>658000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-30</maturityDt>
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        <name>FISERV INC</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>Fiserv, Inc.</title>
        <cusip>337738BD9</cusip>
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          <isin value="US337738BD90"/>
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        <balance>812000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-02</maturityDt>
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          <annualizedRt>5.45000000</annualizedRt>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128284N7</cusip>
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          <isin value="US9128284N73"/>
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        <balance>5105800.00000000</balance>
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          <maturityDt>2028-05-15</maturityDt>
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        <name>KEYSIGHT TECHNOLOGIES</name>
        <lei>549300GLKVIO8YRCYN02</lei>
        <title>Keysight Technologies, Inc.</title>
        <cusip>49338LAE3</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.60000000</annualizedRt>
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      <invstOrSec>
        <name>SCF Equipment Trust Llc</name>
        <lei>N/A</lei>
        <title>SCF Equipment Trust LLC</title>
        <cusip>78437DAC4</cusip>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1262801.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-21</maturityDt>
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      <invstOrSec>
        <name>Sandisk Corp/DE</name>
        <lei>N/A</lei>
        <title>Sandisk Corp.</title>
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          <isin value="US80004C2008"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3140XKTV2</cusip>
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          <isin value="US3140XKTV20"/>
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        <balance>2195653.36000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-03-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>BB-UBS Trust</name>
        <lei>N/A</lei>
        <title>BB-UBS Trust</title>
        <cusip>05490AAA1</cusip>
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          <isin value="US05490AAA16"/>
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        <balance>423991.47000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-05</maturityDt>
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      <invstOrSec>
        <name>COREBRIDGE FINANCIAL INC</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>Corebridge Financial, Inc.</title>
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          <isin value="US21871XAS80"/>
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        <balance>703000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-01-15</maturityDt>
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          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>ARROW ELECTRONICS INC</name>
        <lei>549300YNNLBXT8N8R512</lei>
        <title>Arrow Electronics, Inc.</title>
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          <isin value="US04273WAE12"/>
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        <balance>496000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-10</maturityDt>
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      <invstOrSec>
        <name>OVINTIV INC</name>
        <lei>2549003MEX7YMKLGI239</lei>
        <title>Ovintiv, Inc.</title>
        <cusip>69047QAC6</cusip>
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          <isin value="US69047QAC69"/>
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        <balance>751000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>774532.39000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810SD1</cusip>
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          <isin value="US912810SD19"/>
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        <balance>1931600.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1459565.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RGA GLOBAL FUNDING</name>
        <lei>549300Y22K5FOEBMSK42</lei>
        <title>RGA Global Funding</title>
        <cusip>76209PAF0</cusip>
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          <isin value="US76209PAF09"/>
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        <balance>1474000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1470300.35000000</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>2031-12-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.05000000</annualizedRt>
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      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F032443</cusip>
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          <isin value="US01F0324438"/>
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        <balance>2856000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2744787.05000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>17327CAR4</cusip>
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          <isin value="US17327CAR43"/>
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        <balance>468000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>478530.82000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.17000000</annualizedRt>
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      <invstOrSec>
        <name>RENAISSANCERE HOLDINGS L</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>RenaissanceRe Holdings Ltd.</title>
        <cusip>75968NAG6</cusip>
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        <balance>495000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3140XKP38</cusip>
        <identifiers>
          <isin value="US3140XKP385"/>
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        <balance>2592930.96000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128285M8</cusip>
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          <isin value="US9128285M81"/>
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        <balance>1274600.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2028-11-15</maturityDt>
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      <invstOrSec>
        <name>Palantir Technologies Inc</name>
        <lei>549300UVN46B3BBDHO85</lei>
        <title>Palantir Technologies, Inc.</title>
        <cusip>69608A108</cusip>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810UA4</cusip>
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          <isin value="US912810UA42"/>
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        <balance>1487000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2054-05-15</maturityDt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3140XPDG1</cusip>
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          <isin value="US3140XPDG14"/>
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        <balance>4089375.91000000</balance>
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        <valUSD>4011508.30000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Marvell Technology Inc</name>
        <lei>N/A</lei>
        <title>Marvell Technology, Inc.</title>
        <cusip>573874104</cusip>
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        <balance>5697.00000000</balance>
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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>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
        <cusip>01F020646</cusip>
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          <isin value="US01F0206460"/>
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        <balance>8760000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6952783.88000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO</name>
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          <isin value="US46647PEH55"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AVOLON HOLDINGS FNDG LTD</name>
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        <title>Avolon Holdings Funding Ltd.</title>
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          <isin value="US05401AAV35"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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          <isin value="US912810TR95"/>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-05-15</maturityDt>
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      <invstOrSec>
        <name>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29273RAT6</cusip>
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          <isin value="US29273RAT68"/>
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        <balance>659000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cisco Systems Inc</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>Cisco Systems, Inc.</title>
        <cusip>17277AV12</cusip>
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          <isin value="US17277AV126"/>
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        <curCd>USD</curCd>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>KEYSIGHT TECHNOLOGIES</name>
        <lei>549300GLKVIO8YRCYN02</lei>
        <title>Keysight Technologies, Inc.</title>
        <cusip>49338LAG8</cusip>
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          <isin value="US49338LAG86"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-15</maturityDt>
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          <annualizedRt>4.95000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>31419A4H7</cusip>
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          <isin value="US31419A4H78"/>
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        <balance>4116.28000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4288.97000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29273RAZ2</cusip>
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          <isin value="US29273RAZ29"/>
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        <balance>553000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95000000</annualizedRt>
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      <invstOrSec>
        <name>Martin Marietta Materials Inc</name>
        <lei>5299005MZ4WZECVATV08</lei>
        <title>Martin Marietta Materials, Inc.</title>
        <cusip>573284106</cusip>
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          <isin value="US5732841060"/>
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        <balance>2595.00000000</balance>
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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>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust</title>
        <cusip>89176EAA8</cusip>
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          <isin value="US89176EAA82"/>
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        <balance>162636.13000000</balance>
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        <curCd>USD</curCd>
        <valUSD>160062.56000000</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EQM MIDSTREAM PARTNERS L</name>
        <lei>549300NELT611CL6XM83</lei>
        <title>EQM Midstream Partners LP</title>
        <cusip>26885BAP5</cusip>
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          <isin value="US26885BAP58"/>
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        <balance>325000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Hilton Grand Vacations Trust</name>
        <lei>N/A</lei>
        <title>Hilton Grand Vacations Trust</title>
        <cusip>43283YAA1</cusip>
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          <isin value="US43283YAA10"/>
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        <balance>411695.67000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage-Backed Security, TBA</title>
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          <isin value="US01F0224448"/>
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        <balance>1923000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sierra Receivables Funding Co LLC</name>
        <lei>N/A</lei>
        <title>Sierra Timeshare Receivables Funding LLC</title>
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        <name>UMBS, TBA</name>
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      <invstOrSec>
        <name>Berkshire Hathaway Inc</name>
        <lei>5493000C01ZX7D35SD85</lei>
        <title>Berkshire Hathaway, Inc.</title>
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        <name>ONCOR ELECTRIC DELIVERY</name>
        <lei>549300SP2X2BS1KERD24</lei>
        <title>Oncor Electric Delivery Co. LLC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DoorDash Inc</name>
        <lei>549300NUQ43FGGSK5051</lei>
        <title>DoorDash, Inc.</title>
        <cusip>25809K105</cusip>
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        <balance>6846.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Victory Receivables Corp</name>
        <lei>549300D0F37QF0LP7F94</lei>
        <title>Victory Receivables Corp.</title>
        <cusip>92646KSW3</cusip>
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        <balance>5625000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
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      <invstOrSec>
        <name>COMCAST CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HEALTH CARE SERVICE CORP</name>
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        <title>Health Care Service Corp. A Mutual Legal Reserve Co.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-15</maturityDt>
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      <invstOrSec>
        <name>NBCUniversal Media LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TransDigm Group Inc</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MVW Owner Trust</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Netflix Inc</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <balance>1540000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cadence Design Systems Inc</name>
        <lei>GCT7RXJOGLXPV0NXZY22</lei>
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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>FORTITUDE GROUP HOLDINGS</name>
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        <title>Fortitude Group Holdings LLC</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHARLES SCHWAB CORP</name>
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        <title>Charles Schwab Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FORD MOTOR CREDIT CO LLC</name>
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        <name>BANCO SANTANDER SA</name>
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        <invCountry>ES</invCountry>
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        <name>CAFCO LLC</name>
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        <name>Mastercard Inc</name>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>31416AWL0</cusip>
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          <isin value="US31416AWL06"/>
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        <name>AT&amp;T Inc</name>
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        <title>AT&amp;T, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>BOARDWALK PIPELINES LP</name>
        <lei>549300W6AQ2GHHCGL606</lei>
        <title>Boardwalk Pipelines LP</title>
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        <balance>524000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
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      <invstOrSec>
        <name>Broadcom Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bank of America Corp</name>
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        <name>MARKEL GROUP INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <name>Chicago Mercantile Exchange</name>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured Pass Through Certs.</name>
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        <name>Tesla Inc</name>
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        <name>US Bancorp</name>
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        <name>CRC Funding LLC</name>
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        <name>Towd Point Mortgage Trust</name>
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        <name>United States Treasury</name>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>HEICO CORP</name>
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        <name>Fannie Mae</name>
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        <title>Federal National Mortgage Association</title>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <name>DNB Bank ASA</name>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>Credit Suisse Mortgage Trust</name>
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        <name>Sierra Receivables Funding Co LLC</name>
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        <name>Municipal Electric Authority of Georgia</name>
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        <name>Government National Mortgage Association</name>
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        <name>Fannie Mae</name>
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        <name>Abbott Laboratories</name>
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        <name>MVW Owner Trust</name>
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        <name>New Residential Mortgage Loan Trust</name>
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      <invstOrSec>
        <name>FedEx Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SBA TOWER TRUST</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Kenvue Inc</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EXPEDIA GROUP INC</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-02-15</maturityDt>
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      <invstOrSec>
        <name>AMPHENOL CORP</name>
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        <title>Amphenol Corp.</title>
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        <balance>976000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-04-05</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SBA Communications Corp</name>
        <lei>5299001HX8ZN8Y8QIT49</lei>
        <title>SBA Communications Corp.</title>
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          <isin value="US78410G1040"/>
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        <balance>11724.00000000</balance>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Arista Networks Inc</name>
        <lei>635400H1WKBLOQERUU95</lei>
        <title>Arista Networks, Inc.</title>
        <cusip>040413205</cusip>
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        <balance>20013.00000000</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3138EL6E8</cusip>
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          <isin value="US3138EL6E81"/>
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        <balance>20568.84000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20291.29000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PNC FINANCIAL SERVICES</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group, Inc.</title>
        <cusip>693475BW4</cusip>
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          <isin value="US693475BW41"/>
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        <balance>164000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>167528.88000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.68000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC Multifamily Structured Pass Through Certs.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corp. Multifamily Structured Pass-Through Certificates</title>
        <cusip>3137FWG79</cusip>
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          <isin value="US3137FWG796"/>
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        <balance>4208000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.38000000</annualizedRt>
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      <invstOrSec>
        <name>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-04</maturityDt>
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          <annualizedRt>6.88000000</annualizedRt>
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        <name>GXO LOGISTICS INC</name>
        <lei>5493007CNWMXN78JRN66</lei>
        <title>GXO Logistics, Inc.</title>
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        <balance>566000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-06</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CMM0</cusip>
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          <isin value="US91282CMM00"/>
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        <balance>7452100.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>ASHTEAD CAPITAL INC</name>
        <lei>213800J1134IW58IC398</lei>
        <title>Ashtead Capital, 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>2034-04-15</maturityDt>
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        <name>Sierra Receivables Funding Co LLC</name>
        <lei>N/A</lei>
        <title>Sierra Timeshare Receivables Funding LLC</title>
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        <name>CSX Corp</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX 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>GILEAD SCIENCES INC</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences, Inc.</title>
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        <balance>970000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2035-06-15</maturityDt>
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      <invstOrSec>
        <name>Corpay Inc</name>
        <lei>549300DG6RR0NQSFLN74</lei>
        <title>Corpay, Inc.</title>
        <cusip>219948106</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>HOLCIM FINANCE US LLC</name>
        <lei>529900FB2F1WKLFNGY62</lei>
        <title>Holcim Finance U.S. LLC</title>
        <cusip>50587KAB7</cusip>
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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>Goldman Sachs Group Inc/The</name>
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      <invstOrSec>
        <name>ASHTEAD CAPITAL INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CENTENE CORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VULCAN MATERIALS CO</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UMBS, TBA</name>
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          <isin value="US01F0306450"/>
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        <name>ALCON FINANCE CORP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bayer US Finance II LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-15</maturityDt>
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        <name>INFOR INC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-15</maturityDt>
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        <name>ServiceNow Inc</name>
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        <name>Accelerated Assets</name>
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        <name>Barton Capital SA</name>
        <lei>549300KOFKIMD0C37W24</lei>
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        <name>Hilton Grand Vacations Trust</name>
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        <name>Hudson Yards</name>
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        <name>Fidelity National Information Services Inc</name>
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        <name>UBER TECHNOLOGIES INC</name>
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        <title>Uber Technologies, Inc.</title>
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        <name>Liberty Street Funding LLC</name>
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        <name>Sherwin-Williams Co/The</name>
        <lei>Z15BMIOX8DDH0X2OBP21</lei>
        <title>Sherwin-Williams Co.</title>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITED PARCEL SERVICE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>DOMINICAN REPUBLIC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-06-01</maturityDt>
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        <name>MORGAN STANLEY</name>
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        <title>Morgan Stanley</title>
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        <name>Sierra Receivables Funding Co LLC</name>
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        <name>Analog Devices Inc</name>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>Charles Schwab Corp/The</name>
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        <name>ADVANCED MICRO DEVICES</name>
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        <name>Fannie Mae</name>
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        <name>CAPITAL ONE FINANCIAL CO</name>
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        <name>Ross Stores Inc</name>
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        <name>OCCIDENTAL PETROLEUM COR</name>
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        <title>Occidental Petroleum Corp.</title>
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        <name>CARNIVAL CORP</name>
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        <title>Carnival Corp.</title>
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        <name>Sierra Receivables Funding Co LLC</name>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
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      <invstOrSec>
        <name>NUTRIEN LTD</name>
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        <name>Petroleos Mexicanos</name>
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        <name>Towd Point Mortgage Trust</name>
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        <name>NXP BV/NXP FDG/NXP USA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UMBS, TBA</name>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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        <balance>2397300.00000000</balance>
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        <name>BRAVO Residential Funding Trust</name>
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        <name>GoodLeap Sustainable Home Improvement Loan Trust</name>
        <lei>N/A</lei>
        <title>GoodLeap Sustainable Home Solutions Trust</title>
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        <name>ORACLE CORP</name>
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        <title>Oracle Corp.</title>
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        <name>Carrier Global Corp</name>
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        <name>LyondellBasell Industries NV</name>
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        <name>SITIOS LATINOAMERICA</name>
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        <title>Sitios Latinoamerica SAB de CV</title>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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      </invstOrSec>
      <invstOrSec>
        <name>STARWOOD PROPERTY TRUST</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Altria Group Inc</name>
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          <isin value="US02209S1033"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CIM Trust</name>
        <lei>N/A</lei>
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          <isin value="US12567RAA86"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2061-07-25</maturityDt>
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      <invstOrSec>
        <name>Fannie Mae</name>
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        <title>Federal National Mortgage Association</title>
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          <isin value="US3140QRW661"/>
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        <balance>2613276.17000000</balance>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TE Connectivity PLC</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <cusip>912810PV4</cusip>
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          <isin value="US912810PV44"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-15</maturityDt>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>New Residential Mortgage Loan Trust</title>
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          <isin value="US64828YAR27"/>
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        <balance>284175.67000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-05-25</maturityDt>
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      <invstOrSec>
        <name>KLA CORP</name>
        <lei>549300H0BF5JCG96TJ81</lei>
        <title>KLA Corp.</title>
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          <isin value="US482480AJ99"/>
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        <balance>734000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810UE6</cusip>
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          <isin value="US912810UE63"/>
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        <balance>1822000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-15</maturityDt>
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        <name>ICG US CLO Ltd</name>
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        <title>ICG U.S. CLO Ltd.</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-10-20</maturityDt>
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      <invstOrSec>
        <name>HESS MIDSTREAM OPERATION</name>
        <lei>N/A</lei>
        <title>Hess Midstream Operations LP</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LMA-Americas LLC</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corp.</title>
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          <maturityDt>2053-04-01</maturityDt>
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        <name>Yum! Brands Inc</name>
        <lei>549300JE8XHZZ7OHN517</lei>
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        <name>QUANTA SERVICES INC</name>
        <lei>SHVRXXEACT60MMH07S24</lei>
        <title>Quanta Services, Inc.</title>
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        <name>CANADIAN IMPERIAL BANK</name>
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        <title>Canadian Imperial Bank of Commerce</title>
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        <invCountry>CA</invCountry>
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        <name>Hilton Grand Vacations Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PRUDENTIAL FINANCIAL INC</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial, Inc.</title>
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        <name>ELEVANCE HEALTH INC</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>Elevance Health, Inc.</title>
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        <name>United States Treasury</name>
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        <name>GLENCORE FUNDING LLC</name>
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        <name>Fannie Mae</name>
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        <name>Carnival Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>AMERICAN EXPRESS CO</name>
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        <name>BOEING CO</name>
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        <name>Ingersoll Rand Inc</name>
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        <name>Onslow Bay Financial LLC</name>
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        <name>Caterpillar Inc</name>
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        <name>Starbird Funding Corp</name>
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        <name>CITADEL LP</name>
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        <title>Citadel LP</title>
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        <name>VICI PROPERTIES LP</name>
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        <name>Towd Point Mortgage Trust</name>
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        <name>PLAINS ALL AMER PIPELINE</name>
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        <name>Mackinac Funding Co LLC</name>
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      <invstOrSec>
        <name>CSL FINANCE PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Textron Inc</name>
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        <name>Neurocrine Biosciences Inc</name>
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      <invstOrSec>
        <name>COLT Funding LLC</name>
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        <name>Mexico Government International Bonds</name>
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        <title>Mexico Government International Bonds</title>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-11</maturityDt>
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        <name>AutoZone Inc</name>
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        <name>Mainbeach Funding LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>America Movil SAB de CV</name>
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        <name>VIATRIS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ameriprise Financial Inc</name>
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        <name>HCA Healthcare Inc</name>
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        <name>ANHEUSER-BUSCH INBEV WOR</name>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>HYATT HOTELS CORP</name>
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        <title>Hyatt Hotels Corp.</title>
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        <name>Freddie Mac</name>
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        <name>Otis Worldwide Corp</name>
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        <title>Otis Worldwide Corp.</title>
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        <name>Diamondback Energy Inc</name>
        <lei>549300R22LSX6OHWEN64</lei>
        <title>Diamondback Energy, Inc.</title>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <name>McKesson Corp</name>
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        <title>McKesson Corp.</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UMBS, TBA</name>
        <lei>N/A</lei>
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          <isin value="US01F0304471"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Swedbank AB</name>
        <lei>M312WZV08Y7LYUC71685</lei>
        <title>Swedbank AB</title>
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          <isin value="US87020WW242"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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          <isin value="US912810FG86"/>
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      <invstOrSec>
        <name>Humana Inc</name>
        <lei>529900YLDW34GJAO4J06</lei>
        <title>Humana, Inc.</title>
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          <isin value="US4448591028"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SCHLUMBERGER HLDGS CORP</name>
        <lei>529900IKZG65COT1D505</lei>
        <title>Schlumberger Holdings Corp.</title>
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          <isin value="US806851AK71"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NRG ENERGY INC</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy, Inc.</title>
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          <isin value="US629377CW01"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>APPLOVIN CORP</name>
        <lei>549300LLVXMUAOL3SQ07</lei>
        <title>AppLovin Corp.</title>
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          <isin value="US03831WAD02"/>
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        <balance>911000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fixed Income Clearing Corp</name>
        <lei>549300H47WTHXPU08X20</lei>
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        <assetCat>RA</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
          <clearedCentCparty centralCounterparty="Fixed Income Clearing Corp" isCleared="Y"/>
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              <invstCat>UST</invstCat>
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      <invstOrSec>
        <name>Church &amp; Dwight Co Inc</name>
        <lei>POOXSI30AWAQGYJZC921</lei>
        <title>Church &amp; Dwight Co., Inc.</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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      <invstOrSec>
        <name>AON NORTH AMERICA INC</name>
        <lei>N/A</lei>
        <title>Aon North America, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CHEVRON USA INC</name>
        <lei>VA8TZDWPEZYU430RZ444</lei>
        <title>Chevron USA, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>LLOYDS BANKING GROUP PLC</name>
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        <title>Lloyds Banking Group PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Apple Inc</name>
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        <title>Apple, Inc.</title>
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        <name>D.R. HORTON INC</name>
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        <title>DR Horton, Inc.</title>
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        <name>AMERICAN HOMES 4 RENT</name>
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        <title>American Homes 4 Rent LP</title>
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        <name>KENVUE INC</name>
        <lei>5493008HSF8L4M2LIJ82</lei>
        <title>Kenvue, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3138A5V66</cusip>
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        <balance>6875.64000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6981.15000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3138EJEX2</cusip>
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          <isin value="US3138EJEX25"/>
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        <balance>41532.70000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39916.35000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GREENSAIF PIPELINES BIDC</name>
        <lei>549300YWDGUXPB8GRP47</lei>
        <title>Greensaif Pipelines Bidco SARL</title>
        <cusip>39541EAD5</cusip>
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          <isin value="US39541EAD58"/>
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        <balance>517000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>522919.65000000</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>2036-02-23</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hilton Grand Vacations Trust</name>
        <lei>N/A</lei>
        <title>Hilton Grand Vacations Trust</title>
        <cusip>43283NAA5</cusip>
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          <isin value="US43283NAA54"/>
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        <balance>794211.44000000</balance>
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        <curCd>USD</curCd>
        <valUSD>799385.17000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.98000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ENTERPRISE PRODUCTS OPER</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC</title>
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          <isin value="US29379VBQ59"/>
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        <balance>1846000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Emerson Electric Co</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
        <title>Emerson Electric Co.</title>
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          <isin value="US29101AVK77"/>
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        <balance>5675000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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      <invstOrSec>
        <name>7-ELEVEN INC</name>
        <lei>549300K23JPL0SS3LB18</lei>
        <title>7-Eleven, Inc.</title>
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          <isin value="US817826AE03"/>
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        <balance>1113000.00000000</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>Regeneron Pharmaceuticals Inc</name>
        <lei>549300RCBFWIRX3HYQ56</lei>
        <title>Regeneron Pharmaceuticals, Inc.</title>
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          <isin value="US75886F1075"/>
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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>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3140XKS76</cusip>
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          <isin value="US3140XKS769"/>
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        <balance>2480385.87000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Deutsche Alt-A Securities INC Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>Deutsche Alt-A Securities Mortgage Loan Trust</title>
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          <isin value="US25150MAC01"/>
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        <balance>38056.96000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-12-25</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>31410G4B6</cusip>
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          <isin value="US31410G4B62"/>
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        <balance>6067.43000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Appalachian Power Co</name>
        <lei>3SCHO1ABYYIG382BEI70</lei>
        <title>Appalachian Power Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALLSTATE CORP</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>Allstate Corp.</title>
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      <invstOrSec>
        <name>LOWE'S COS INC</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos., Inc.</title>
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        <name>Howmet Aerospace Inc</name>
        <lei>549300HO5WFZUT5N2T22</lei>
        <title>Howmet Aerospace, Inc.</title>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
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        <title>Towd Point Mortgage Trust</title>
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      <invstOrSec>
        <name>Towd Point Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Towd Point Mortgage Trust</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BRAVO Residential Funding Trust</name>
        <lei>N/A</lei>
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        <balance>761654.03000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MGM RESORTS INTL</name>
        <lei>54930066VBP7DZEGGJ87</lei>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3140J6EV59"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US91282CFZ95"/>
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        <balance>1450800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1449269.86000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-30</maturityDt>
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          <annualizedRt>3.88000000</annualizedRt>
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      <invstOrSec>
        <name>Digital Realty Trust Inc</name>
        <lei>549300HKCZ31D08NEI41</lei>
        <title>Digital Realty Trust, Inc.</title>
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          <isin value="US2538681030"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810RS9</cusip>
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          <isin value="US912810RS96"/>
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        <balance>4354000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-05-15</maturityDt>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>N/A</lei>
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        <cusip>64830MAG8</cusip>
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          <isin value="US64830MAG87"/>
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        <balance>1016285.62000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2059-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>OFFICE CHERIFIEN DES PHO</name>
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        <title>OCP SA</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>MA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-05-02</maturityDt>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810UC0</cusip>
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          <isin value="US912810UC08"/>
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        <balance>3171000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-08-15</maturityDt>
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      <invstOrSec>
        <name>Equifax Inc</name>
        <lei>5493004MCF8JDC86VS77</lei>
        <title>Equifax, Inc.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Fifth Third Bancorp</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CDY4</cusip>
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          <isin value="US91282CDY49"/>
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        <balance>2051000.00000000</balance>
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        <name>UMBS, TBA</name>
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        <name>Versailles Commercial Paper LLC</name>
        <lei>N/A</lei>
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        <name>PFIZER INVESTMENT ENTER</name>
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        <issuerCat>CORP</issuerCat>
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        <name>ENBRIDGE INC</name>
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        <title>Enbridge, Inc.</title>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
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        <name>TENN VALLEY AUTHORITY</name>
        <lei>549300HE1ISW43LNKM54</lei>
        <title>Tennessee Valley Authority</title>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828ZQ6</cusip>
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        <balance>688000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Angel Oak Mortgage Trust</name>
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        <name>GoodLeap Sustainable Home Improvement Loan Trust</name>
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        <name>FHLMC Multifamily Structured Pass Through Certs.</name>
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        <name>Delta Air Lines Inc</name>
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        <name>First National Master Note Trust</name>
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        <name>Fannie Mae</name>
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        <name>OCCIDENTAL PETROLEUM COR</name>
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        <title>Occidental Petroleum Corp.</title>
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        <name>Onslow Bay Financial LLC</name>
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        <name>FORD MOTOR CREDIT CO LLC</name>
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        <name>Booking Holdings Inc</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
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        <name>Keurig Dr Pepper Inc</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>Keurig Dr. Pepper, Inc.</title>
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        <name>Merck &amp; Co Inc</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>Merck &amp; Co., Inc.</title>
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      </invstOrSec>
      <invstOrSec>
        <name>Equinix Inc</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>Equinix, Inc.</title>
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          <isin value="US29444U7000"/>
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        <balance>992.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>808827.20000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828Z78</cusip>
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          <isin value="US912828Z781"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Charter Communications Operating LLC / Charter Communications Operating Capital</name>
        <lei>549300TPZNMN50BJ3745</lei>
        <title>Charter Communications Operating LLC/Charter Communications Operating Capital</title>
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          <isin value="US161175BT05"/>
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        <balance>526000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>395194.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3138EH3N0</cusip>
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          <isin value="US3138EH3N08"/>
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        <balance>43692.03000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45427.60000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810ST6</cusip>
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          <isin value="US912810ST60"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-11-15</maturityDt>
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      <invstOrSec>
        <name>Equity LifeStyle Properties Inc</name>
        <lei>529900PEQG66LENB6798</lei>
        <title>Equity LifeStyle Properties, Inc.</title>
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          <isin value="US29472R1086"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3138EKTR6</cusip>
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          <isin value="US3138EKTR64"/>
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        <balance>17801.25000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Eli Lilly &amp; Co</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co.</title>
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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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        <name>CIFC Funding Ltd</name>
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        <title>CIFC Funding Ltd.</title>
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          <isin value="US12549BAY48"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-18</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>Arthur J Gallagher &amp; Co</name>
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        <title>Arthur J Gallagher &amp; Co.</title>
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          <isin value="US3635761097"/>
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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>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810TT5</cusip>
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          <isin value="US912810TT51"/>
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        <balance>2126000.00000000</balance>
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        <name>T-MOBILE USA INC</name>
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        <title>T-Mobile USA, Inc.</title>
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        <name>Amazon.com Inc</name>
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        <name>Credit Suisse Mortgage Trust</name>
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        <name>GENERAL MOTORS FINL CO</name>
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        <name>UNITED AIR 2014-2 A PTT</name>
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        <title>United Airlines Pass-Through Trust</title>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CCB5</cusip>
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          <isin value="US91282CCB54"/>
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        <name>Nationstar Mortgage Loan Trust</name>
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        <title>Nationstar Mortgage Loan Trust</title>
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        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation-Protected Indexed Notes</title>
        <cusip>912828ZZ6</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-07-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>New Residential Mortgage Loan Trust</name>
        <lei>N/A</lei>
        <title>New Residential Mortgage Loan Trust</title>
        <cusip>64829VAA4</cusip>
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          <isin value="US64829VAA44"/>
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        <balance>251660.55000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2057-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ROYALTY PHARMA PLC</name>
        <lei>549300FGFN7VOK8BZR03</lei>
        <title>Royalty Pharma PLC</title>
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          <isin value="US78081BAK98"/>
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        <balance>761000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>657268.87000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Motorola Solutions Inc</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>Motorola Solutions, Inc.</title>
        <cusip>620076307</cusip>
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          <isin value="US6200763075"/>
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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>Fair Isaac Corp</name>
        <lei>RI6HET5SJUEY30V1PS26</lei>
        <title>Fair Isaac Corp.</title>
        <cusip>303250104</cusip>
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          <isin value="US3032501047"/>
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        <balance>662.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1220833.92000000</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>MVW Owner Trust</name>
        <lei>N/A</lei>
        <title>MVW LLC</title>
        <cusip>62847RAA5</cusip>
        <identifiers>
          <isin value="US62847RAA59"/>
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        <balance>842230.11000000</balance>
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        <curCd>USD</curCd>
        <valUSD>852905.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.32000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810TW8</cusip>
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          <isin value="US912810TW80"/>
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        <balance>1282000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1304885.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-15</maturityDt>
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          <annualizedRt>4.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Baxter International Inc</name>
        <lei>J5OIVXX3P24RJRW5CK77</lei>
        <title>Baxter International, Inc.</title>
        <cusip>071813109</cusip>
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          <isin value="US0718131099"/>
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        <balance>14874.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
        <cusip>110122108</cusip>
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          <isin value="US1101221083"/>
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        <balance>97537.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5948781.63000000</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>AVOLON HOLDINGS FNDG LTD</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAK7</cusip>
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          <isin value="US05401AAK79"/>
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        <balance>553000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>555256.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American Express Co</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co.</title>
        <cusip>025816109</cusip>
        <identifiers>
          <isin value="US0258161092"/>
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        <balance>12553.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3377384.65000000</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>PHILIP MORRIS INTL INC</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172CW7</cusip>
        <identifiers>
          <isin value="US718172CW74"/>
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        <balance>903000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>940582.75000000</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>2029-11-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.63000000</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>14040H105</cusip>
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        <balance>6335.00000000</balance>
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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>VERIZON COMMUNICATIONS</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
        <cusip>92343VFX7</cusip>
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        <balance>1085000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>922467.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.68000000</annualizedRt>
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      <invstOrSec>
        <name>GENERAL ELECTRIC CO</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>General Electric Co.</title>
        <cusip>36962G3P7</cusip>
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          <isin value="US36962G3P70"/>
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        <balance>147000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>154735.05000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.88000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Panama Government International Bonds</name>
        <lei>549300SHS4T08CL0LP14</lei>
        <title>Panama Government International Bonds</title>
        <cusip>698299BF0</cusip>
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          <isin value="US698299BF03"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>520987.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.88000000</annualizedRt>
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      <invstOrSec>
        <name>ELEMENT FLEET MANAGEMENT</name>
        <lei>5493000PGBS1C22ELQ16</lei>
        <title>Element Fleet Management Corp.</title>
        <cusip>286181AK8</cusip>
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          <isin value="US286181AK85"/>
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        <curCd>USD</curCd>
        <valUSD>1514020.64000000</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>2028-12-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.32000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Eaton Corp PLC</name>
        <lei>549300VDIGTMXUNT7H71</lei>
        <title>Eaton Corp. PLC</title>
        <cusip>000000000</cusip>
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          <isin value="IE00B8KQN827"/>
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        <balance>10486.00000000</balance>
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        <valUSD>2850409.38000000</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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        <name>MICROCHIP TECHNOLOGY INC</name>
        <lei>5493007PTFULNYZJ1R12</lei>
        <title>Microchip Technology, Inc.</title>
        <cusip>595017BE3</cusip>
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          <isin value="US595017BE37"/>
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        <balance>950000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>956290.95000000</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>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.05000000</annualizedRt>
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      <invstOrSec>
        <name>BARCLAYS PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
        <cusip>06738ECS2</cusip>
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          <isin value="US06738ECS28"/>
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        <balance>256000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>257527.38000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.04000000</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>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CKP5</cusip>
        <identifiers>
          <isin value="US91282CKP58"/>
        </identifiers>
        <balance>1083000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1110075.00000000</valUSD>
        <pctVal>0.082079733460</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.63000000</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>ConocoPhillips</name>
        <lei>WPTL2Z3FIYTHSP5V2253</lei>
        <title>ConocoPhillips</title>
        <cusip>20825C104</cusip>
        <identifiers>
          <isin value="US20825C1045"/>
        </identifiers>
        <balance>64715.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6796369.30000000</valUSD>
        <pctVal>0.502528370282</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>SYSCO CORPORATION</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
        <cusip>871829BV8</cusip>
        <identifiers>
          <isin value="US871829BV88"/>
        </identifiers>
        <balance>632000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>634576.98000000</valUSD>
        <pctVal>0.046921072340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-04-25</ncom:dateSigned>
      <ncom:nameOfApplicant>TRANSAMERICA SERIES TRUST</ncom:nameOfApplicant>
      <ncom:signature>Joshua Durham</ncom:signature>
      <ncom:signerName>Joshua Durham</ncom:signerName>
      <ncom:title>Chief Operating Officer and Interim Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
