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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <name>Western Midstream Operating LP</name>
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        <name>Southern California Gas Co.</name>
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        <name>VEON Holdings BV</name>
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        <name>Orange SA</name>
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        <name>Eaton Corp. plc</name>
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        <name>Cablevision Lightpath LLC</name>
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        <name>AerCap Ireland Capital DAC</name>
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        <name>Equinix, Inc.</name>
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        <name>Taiwan Semiconductor Manufacturing Co. Ltd.</name>
        <lei>549300KB6NK5SBD14S87</lei>
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        <name>Performance Food Group, Inc.</name>
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        <name>Walmart, Inc.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart, Inc.</title>
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        <name>FNMA</name>
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        <name>NCR Corp.</name>
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      <invstOrSec>
        <name>BAT Capital Corp.</name>
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        <name>Waste Connections, Inc.</name>
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        <name>Nissan Motor Acceptance Co. LLC</name>
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        <name>Flex Intermediate Holdco LLC</name>
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        <name>BX Trust</name>
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        <name>United Mexican States</name>
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        <name>Bank of America Corp.</name>
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        <name>Home Partners of America Trust</name>
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      <invstOrSec>
        <name>Muenchener Rueckversicherungs-Gesellschaft AG</name>
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        <name>Southern California Edison Co.</name>
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        <name>Samsung Electronics Co. Ltd.</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>Samsung Electronics Co. Ltd.</title>
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        <name>Spectra Energy Partners LP</name>
        <lei>2HKVXE7U4NF5B6UGSU72</lei>
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        <name>Telenor ASA</name>
        <lei>549300IM1QSBY4SLPM26</lei>
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        <name>Lloyds Banking Group plc</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group plc</title>
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        <name>FREMF Mortgage Trust</name>
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        <name>Apple, Inc.</name>
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        <name>CF Hippolyta LLC</name>
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        <name>salesforce.com, Inc.</name>
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      <invstOrSec>
        <name>Carrier Global Corp.</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>Arbor Multifamily Mortgage Securities Trust</name>
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      <invstOrSec>
        <name>New Economy Assets Phase 1 Sponsor LLC</name>
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        <name>KLA Corp.</name>
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        <name>N/A</name>
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        <name>Becton Dickinson and Co.</name>
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        <name>FHLMC STACR REMIC Trust</name>
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        <name>Taco Bell Funding LLC</name>
        <lei>N/A</lei>
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        <name>Carrington Mortgage Loan Trust</name>
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        <name>BX Trust</name>
        <lei>N/A</lei>
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        <name>Credit Suisse Group AG</name>
        <lei>549300506SI9CRFV9Z86</lei>
        <title>Credit Suisse Group AG</title>
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        <name>Ford Credit Auto Owner Trust</name>
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      <invstOrSec>
        <name>Eli Lilly &amp; Co.</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co.</title>
        <cusip>532457108</cusip>
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      <invstOrSec>
        <name>Huntsman International LLC</name>
        <lei>3YTEJFW18LGIUQ2N5J61</lei>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hilton Domestic Operating Co., Inc.</name>
        <lei>5493003EG7H0N1E4XV50</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-15</maturityDt>
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          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-21</maturityDt>
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          <annualizedRt>4.05000000</annualizedRt>
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        <name>United Mexican States</name>
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          <isin value="XS2280637039"/>
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        <curCd>USD</curCd>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2071-04-19</maturityDt>
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        <name>T-Mobile USA, Inc.</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-Mobile USA, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-15</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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          <isin value="US912810QD37"/>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-15</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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        <name>Regents of the University of California Medical Center</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-05-15</maturityDt>
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          <annualizedRt>3.00600000</annualizedRt>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-15</maturityDt>
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          <annualizedRt>2.00000000</annualizedRt>
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        <name>Cummins, Inc.</name>
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        <name>Intel Corp.</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp.</title>
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        <assetCat>EC</assetCat>
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        <name>International Business Machines Corp.</name>
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        <assetCat>EC</assetCat>
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        <name>Alabama Power Co.</name>
        <lei>0RL818ELFOHP5JHOFU19</lei>
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        <name>Sysco Corp.</name>
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        <name>Willis North America, Inc.</name>
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        <name>FHLMC STACR Trust</name>
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        <name>OneMain Finance Corp.</name>
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        <name>CVS Health Corp.</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp.</title>
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        <name>WP Carey, Inc.</name>
        <lei>54930042CRNE713E3Q67</lei>
        <title>WP Carey, Inc.</title>
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        <name>WELLS FARGO GOVT FD LEX</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cintas Corp. No. 2</name>
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        <title>Cintas Corp. No. 2</title>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
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        <title>Citigroup, Inc.</title>
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      <invstOrSec>
        <name>MSCI, Inc.</name>
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        <name>Banco BTG Pactual SA</name>
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        <name>Citizens Financial Group, Inc.</name>
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        <name>GNMA</name>
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        <name>AMSR Trust</name>
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        <name>FNMA</name>
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        <name>Seasoned Loans Structured Transaction</name>
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        <name>J.P. Morgan Mortgage Trust</name>
        <lei>N/A</lei>
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        <name>Transcontinental Gas Pipe Line Co. LLC</name>
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        <name>Stericycle, Inc.</name>
        <lei>B8PTJH2P0AXSWSMP2136</lei>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>NYU Langone Hospitals</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2018-1745, Class A</title>
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      <invstOrSec>
        <name>Delta Air Lines, Inc.</name>
        <lei>N/A</lei>
        <title>Delta Air Lines, Inc.</title>
        <cusip>830867AB3</cusip>
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        <balance>2125000.00000000</balance>
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          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Crown Castle Towers LLC</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Nordstrom, Inc.</name>
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        <title>Nordstrom, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Johnson &amp; Johnson</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Merck &amp; Co., Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Protective Life Corp.</name>
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        <name>Equinix, Inc.</name>
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        <name>FREMF Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-01</maturityDt>
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        <name>MVW LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Pfizer, Inc.</name>
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        <name>Calpine Corp.</name>
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        <name>Sky Ltd.</name>
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        <name>Valero Energy Corp.</name>
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        <name>Comcast Corp.</name>
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        <name>BAE Systems plc</name>
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        <name>Ally Financial, Inc.</name>
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        <name>AerCap Ireland Capital DAC</name>
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        <name>Mello Mortgage Capital Acceptance</name>
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        <name>GNMA</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>XAF Financial Index</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="IXAH2ID"/>
          <other otherDesc="Future Ticker" value="IXAH2 Index"/>
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        <balance>421.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
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        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>CME Clearing House</counterpartyName>
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              <indexBasketInfo>
                <indexName>E-mini Financial Select Sector</indexName>
                <indexIdentifier>IXM Index</indexIdentifier>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BXHPP Trust</name>
        <lei>N/A</lei>
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        <cusip>05609JAJ1</cusip>
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          <isin value="US05609JAJ16"/>
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        <balance>1280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1267220.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-15</maturityDt>
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          <annualizedRt>1.00599840</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Industria de Diseno Textil SA</name>
        <lei>549300TTCXZOGZM2EY83</lei>
        <title>Industria de Diseno Textil SA</title>
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          <isin value="ES0148396007"/>
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        <balance>154655.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>US Airways Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>US Airways Pass-Through Trust, Series 2012-1, Class A</title>
        <cusip>90345WAA2</cusip>
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          <isin value="US90345WAA27"/>
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        <balance>1118181.02000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1176554.99000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Deutsche Post AG</name>
        <lei>8ER8GIG7CSMVD8VUFE78</lei>
        <title>Deutsche Post AG (Registered)</title>
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          <isin value="DE0005552004"/>
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        <balance>145103.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89011527"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Truist Bank</name>
        <lei>JJKC32MCHWDI71265Z06</lei>
        <title>Truist Bank</title>
        <cusip>07330MAC1</cusip>
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          <isin value="US07330MAC10"/>
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        <balance>1900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1930871.49000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-17</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.63600000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>CVS Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>CVS Pass-Through Trust</title>
        <cusip>126650AQ3</cusip>
        <identifiers>
          <isin value="US126650AQ30"/>
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        <balance>93070.11000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98571.82000000</valUSD>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U2H5</cusip>
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          <isin value="US95000U2H53"/>
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        <balance>1795000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1805151.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-30</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Precision Castparts Corp.</name>
        <lei>0XOOAY5P5J7Q734SEC89</lei>
        <title>Precision Castparts Corp.</title>
        <cusip>740189AM7</cusip>
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          <isin value="US740189AM73"/>
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        <balance>4040000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4217112.67000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>Macquarie Group Ltd.</name>
        <lei>ACMHD8HWFMFUIQQ8Y590</lei>
        <title>Macquarie Group Ltd.</title>
        <cusip>55608JAZ1</cusip>
        <identifiers>
          <isin value="US55608JAZ12"/>
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        <balance>1925000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1854457.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-14</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.87100000</annualizedRt>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828Z78</cusip>
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          <isin value="US912828Z781"/>
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        <balance>3155000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3138485.53000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>Time Warner Entertainment Co. LP</name>
        <lei>N/A</lei>
        <title>Time Warner Entertainment Co. LP</title>
        <cusip>88731EAF7</cusip>
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          <isin value="US88731EAF79"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>859568.34000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.37500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>American Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>American Airlines Pass-Through Trust, Series 2016-2, Class A</title>
        <cusip>023764AA1</cusip>
        <identifiers>
          <isin value="US023764AA14"/>
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        <balance>1207910.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1150644.56000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
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      <invstOrSec>
        <name>BX Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust, Series 2020-VIV3, Class B</title>
        <cusip>05608EAA2</cusip>
        <identifiers>
          <isin value="US05608EAA29"/>
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        <balance>1622236.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1673554.79000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-09</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.54387600</annualizedRt>
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      <invstOrSec>
        <name>Biogen, Inc.</name>
        <lei>W8J5WZB5IY3K0NDQT671</lei>
        <title>Biogen, Inc.</title>
        <cusip>09062XAE3</cusip>
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          <isin value="US09062XAE31"/>
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        <balance>3480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3532734.08000000</valUSD>
        <pctVal>0.218596150307</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark Mortgage Trust, Series 2020-B19, Class A2</title>
        <cusip>08162WAZ9</cusip>
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          <isin value="US08162WAZ95"/>
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        <balance>2175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2144514.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.69100000</annualizedRt>
          <isDefault>N</isDefault>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Dell International LLC</name>
        <lei>N/A</lei>
        <title>Dell International LLC</title>
        <cusip>24703DBE0</cusip>
        <identifiers>
          <isin value="US24703DBE04"/>
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        <balance>2090000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1890456.35000000</valUSD>
        <pctVal>0.116976390261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cie Generale des Etablissements Michelin SCA</name>
        <lei>549300SOSI58J6VIW052</lei>
        <title>Cie Generale des Etablissements Michelin SCA</title>
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        <name>United Parcel Service, Inc.</name>
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        <name>Office Properties Income Trust</name>
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        <name>Avolon Holdings Funding Ltd.</name>
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        <name>FNMA</name>
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        <name>Citigroup, Inc.</name>
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        <name>UBS Group AG</name>
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        <name>Sierra Timeshare Receivables Funding LLC</name>
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        <name>Bayer AG</name>
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        <name>FHLMC</name>
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        <name>Home Depot, Inc. (The)</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>Home Depot, Inc. (The)</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>UAL Pass-Through Trust</name>
        <lei>N/A</lei>
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        <cusip>909287AA2</cusip>
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          <isin value="US909287AA20"/>
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        <balance>712277.03000000</balance>
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        <curCd>USD</curCd>
        <valUSD>726106.60000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-07-02</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
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          <isin value="US912810QH41"/>
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        <balance>4235000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5722709.17000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-05-15</maturityDt>
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      <invstOrSec>
        <name>AXA SA</name>
        <lei>F5WCUMTUM4RKZ1MAIE39</lei>
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          <isin value="FR0000120628"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mauser Packaging Solutions Holding Co.</name>
        <lei>549300DNGHXL0OMHW304</lei>
        <title>Mauser Packaging Solutions Holding Co., Term Loan</title>
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          <isin value="US05604XAP15"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-04-03</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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          <isin value="US172967LP48"/>
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        <balance>1180000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-24</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Teva Pharmaceutical Finance Netherlands III BV</name>
        <lei>5493004T21MOAFINJP35</lei>
        <title>Teva Pharmaceutical Finance Netherlands III BV</title>
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          <isin value="US88167AAP66"/>
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        <balance>1335000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-09</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2021-30, Class WI</title>
        <cusip>38382ND95</cusip>
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          <isin value="US38382ND955"/>
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        <balance>7322631.56000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1002892.97000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ford Credit Floorplan Master Owner Trust</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>Ford Credit Floorplan Master Owner Trust, Series 2019-4, Class A</title>
        <cusip>34528QHF4</cusip>
        <identifiers>
          <isin value="US34528QHF46"/>
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        <balance>2015000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2058442.19000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.44000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sands China Ltd.</name>
        <lei>549300EVO6UZDGY05787</lei>
        <title>Sands China Ltd.</title>
        <cusip>80007RAF2</cusip>
        <identifiers>
          <isin value="US80007RAF29"/>
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        <balance>1310000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1346273.90000000</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>2025-08-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hilton Domestic Operating Co., Inc.</name>
        <lei>5493003EG7H0N1E4XV50</lei>
        <title>Hilton Domestic Operating Co., Inc.</title>
        <cusip>432833AH4</cusip>
        <identifiers>
          <isin value="US432833AH41"/>
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        <balance>740000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>781084.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Altice France SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>Altice France SA</title>
        <cusip>02156LAF8</cusip>
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          <isin value="US02156LAF85"/>
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        <balance>2100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1949934.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA, Series 2013-149, Class BA</title>
        <cusip>38378UKQ9</cusip>
        <identifiers>
          <isin value="US38378UKQ93"/>
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        <balance>3962531.99000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4071830.91000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC STACR Trust</name>
        <lei>549300L8K4CLYS7FCQ06</lei>
        <title>FHLMC STACR Trust, Series 2018-DNA2, Class M2</title>
        <cusip>35563TAB7</cusip>
        <identifiers>
          <isin value="US35563TAB70"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4058178.80000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-25</maturityDt>
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          <annualizedRt>2.25771120</annualizedRt>
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      <invstOrSec>
        <name>Victoria's Secret &amp; Co.</name>
        <lei>5493006T3O70U3UWVF17</lei>
        <title>Victoria's Secret &amp; Co.</title>
        <cusip>926400AA0</cusip>
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          <isin value="US926400AA00"/>
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        <balance>1830000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1763433.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Great-West Lifeco, Inc.</name>
        <lei>549300X81X4VZEESFU46</lei>
        <title>Great-West Lifeco, Inc.</title>
        <cusip>39138C106</cusip>
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          <isin value="CA39138C1068"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2022-3, Class YS</title>
        <cusip>3136BLFH8</cusip>
        <identifiers>
          <isin value="US3136BLFH82"/>
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        <balance>10080000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>567060.48000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS, 30 Year</title>
        <cusip>3140X7MM8</cusip>
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          <isin value="US3140X7MM84"/>
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        <balance>0.01000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.01000000</valUSD>
        <pctVal>0.000000000618</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PNC Financial Services Group, Inc. (The)</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group, Inc. (The)</title>
        <cusip>693475105</cusip>
        <identifiers>
          <isin value="US6934751057"/>
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        <balance>31072.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6400521.28000000</valUSD>
        <pctVal>0.396047163495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Aircastle Ltd.</name>
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        <name>Nutrien Ltd.</name>
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        <name>MPLX LP</name>
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        <name>Starwood Property Trust, Inc.</name>
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        <name>Alliant Holdings Intermediate LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Travelers Cos., Inc. (The)</name>
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        <name>Braskem Netherlands Finance BV</name>
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        <name>Ford Credit Floorplan Master Owner Trust</name>
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        <name>Entergy Louisiana LLC</name>
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        <name>JPMorgan Chase Bank NA</name>
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        <name>Altria Group, Inc.</name>
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        <name>Waste Management, Inc.</name>
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        <name>FirstKey Homes Trust</name>
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        <name>Samsung Electronics Co. Ltd.</name>
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        <name>Energy Transfer Operating LP</name>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <name>WEC Energy Group, Inc.</name>
        <lei>549300IGLYTZUK3PVP70</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Duquesne Light Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mileage Plus Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Owens-Brockway Glass Container, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OneMain Finance Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Southern Co. Gas Capital Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ford Credit Auto Owner Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Aviation Capital Group LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Comision Federal de Electricidad</name>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup, Inc.</name>
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        <title>Citigroup, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CVS Health Corp.</name>
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        <title>CVS Health Corp.</title>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <name>Coca-Cola Europacific Partners plc</name>
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        <invCountry>GB</invCountry>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Snam SpA</name>
        <lei>8156002278562044AF79</lei>
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        <invCountry>IT</invCountry>
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        <name>Chase Funding Trust</name>
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        <name>California Institute of Technology</name>
        <lei>549300CITPNHOTVPHC04</lei>
        <title>California Institute of Technology</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co., Series E</title>
        <cusip>842400GN7</cusip>
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        <balance>870000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BPCE SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Orkla ASA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enterprise Products Partners LP</name>
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        <name>Magellan Midstream Partners LP</name>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Starbucks Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-08-15</maturityDt>
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        <name>Wells Fargo Bank NA</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
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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>2037-02-01</maturityDt>
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        <name>LyondellBasell Industries NV</name>
        <lei>BN6WCCZ8OVP3ITUUVN49</lei>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <isin value="US61744YAN85"/>
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        <balance>4435000.00000000</balance>
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        <valUSD>4519607.12000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-23</maturityDt>
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          <annualizedRt>3.12500000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, Series 000</title>
        <cusip>3137FPLK9</cusip>
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          <isin value="US3137FPLK98"/>
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        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-25</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Republic of Colombia</name>
        <lei>549300MHDRBVRF6B9117</lei>
        <title>Colombia Government Bond</title>
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          <isin value="US195325DZ51"/>
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        <balance>1780000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>CO</invCountry>
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          <maturityDt>2032-04-22</maturityDt>
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        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
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        <invCountry>FR</invCountry>
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        <name>Performance Food Group, Inc.</name>
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        <title>Performance Food Group, Inc.</title>
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          <maturityDt>2027-10-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>Federative Republic of Brazil</name>
        <lei>254900ZFY40OYEADAP90</lei>
        <title>Brazil Government Bond</title>
        <cusip>105756CE8</cusip>
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        <name>L3Harris Technologies, Inc.</name>
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        <title>L3Harris Technologies, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
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        <invCountry>US</invCountry>
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        <name>Linde plc</name>
        <lei>8945002PAZHZLBGKGF02</lei>
        <title>Linde plc</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-27</maturityDt>
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      <invstOrSec>
        <name>AstraZeneca plc</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>AstraZeneca plc</title>
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        <name>Sirius XM Radio, Inc.</name>
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        <name>Reliance Standard Life Global Funding II</name>
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        <name>Bank of America Corp.</name>
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        <name>Credit Suisse Group AG</name>
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        <name>Broadcom, Inc.</name>
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        <name>American Airlines Pass-Through Trust</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <name>Navient Private Education Refi Loan Trust</name>
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        <name>FNMA</name>
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        <name>Lazard Ltd.</name>
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        <invCountry>BM</invCountry>

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        <name>Federative Republic of Brazil</name>
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        <name>BAE Systems plc</name>
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        <name>Medtronic plc</name>
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        <name>Progress Residential Trust</name>
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      <invstOrSec>
        <name>Realty Income Corp.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>GlaxoSmithKline plc</name>
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        <name>FNMA</name>
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        <name>Dell International LLC</name>
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        <name>Mello Warehouse Securitization Trust</name>
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        <name>N/A</name>
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          <other otherDesc="Inhouse Sedol" value="WNH2COM"/>
          <other otherDesc="Future Ticker" value="WNH2 Comdty"/>
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        <name>Verizon Communications, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS, 30 Year</title>
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        <issuerCat>USGSE</issuerCat>
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        <name>CF Hippolyta LLC</name>
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        <name>Equity One Mortgage Pass-Through Trust</name>
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        <name>Cemex SAB de CV</name>
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        <name>Hanesbrands, Inc.</name>
        <lei>GX5LWVWZLL5S4W1L2F20</lei>
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        <name>BX Trust</name>
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        <name>CNH Industrial Capital LLC</name>
        <lei>549300PNSJ5B81UMVO28</lei>
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        <name>Jersey Central Power &amp; Light Co.</name>
        <lei>549300W9UGH9ZPLNPF79</lei>
        <title>Jersey Central Power &amp; Light Co.</title>
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        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
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        <title>General Motors Financial Co., Inc.</title>
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          <isin value="US37045XBY13"/>
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        <curCd>USD</curCd>
        <valUSD>907442.96000000</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>2022-06-30</maturityDt>
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      <invstOrSec>
        <name>MainStay U.S. Government Liquidity Fund</name>
        <lei>549300Y3ZLEL13IJCK58</lei>
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          <isin value="US56064L4885"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</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>Ford Credit Floorplan Master Owner Trust</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>Ford Credit Floorplan Master Owner Trust, Series 2018-4, Class A</title>
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        <balance>1480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1637039.69000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.06000000</annualizedRt>
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      <invstOrSec>
        <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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        <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>MMAF Equipment Finance LLC</name>
        <lei>N/A</lei>
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          <isin value="US60700KAD46"/>
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        <curCd>USD</curCd>
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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>2027-11-15</maturityDt>
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          <annualizedRt>0.66000000</annualizedRt>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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          <isin value="US06051GKD06"/>
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        <balance>1195000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1158011.31000000</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>2032-10-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.57200000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co. (The)</title>
        <cusip>097023CQ6</cusip>
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          <isin value="US097023CQ64"/>
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        <balance>880000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>852389.07000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
        <cusip>617446HD4</cusip>
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          <isin value="US617446HD43"/>
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        <balance>490000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>677720.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Peachtree Corners Funding Trust</name>
        <lei>N/A</lei>
        <title>Peachtree Corners Funding Trust</title>
        <cusip>70466WAA7</cusip>
        <identifiers>
          <isin value="US70466WAA71"/>
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        <balance>940000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>987304.13000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.97600000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
        <cusip>38141GYM0</cusip>
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          <isin value="US38141GYM04"/>
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        <balance>1435000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1396623.12000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-21</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.94800000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>PNC Financial Services Group, Inc. (The)</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group, Inc. (The)</title>
        <cusip>693475AZ8</cusip>
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          <isin value="US693475AZ80"/>
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        <balance>985000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>983130.32000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.55000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS, 30 Year</title>
        <cusip>3140HJJS1</cusip>
        <identifiers>
          <isin value="US3140HJJS12"/>
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        <balance>2121322.28000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2245583.80000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>FHLMC STACR Trust</name>
        <lei>N/A</lei>
        <title>Freddie Mac STACR REMIC Trust, Series 2022-DNA1, Class M1B</title>
        <cusip>35564KPV5</cusip>
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          <isin value="US35564KPV51"/>
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        <balance>1845000.00000000</balance>
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        <valUSD>1842693.75000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-01-25</maturityDt>
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          <annualizedRt>1.89966960</annualizedRt>
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      <invstOrSec>
        <name>Delta Air Lines, Inc.</name>
        <lei>N/A</lei>
        <title>Delta Air Lines, Inc.</title>
        <cusip>830867AA5</cusip>
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          <isin value="US830867AA59"/>
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        <balance>1080000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1120476.51000000</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>2025-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Cisco Systems, Inc.</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>Cisco Systems, Inc.</title>
        <cusip>17275R102</cusip>
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          <isin value="US17275R1023"/>
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        <balance>277410.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15443414.70000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Textron Financial Corp.</name>
        <lei>4E8B2CNXPE5P5AY03O18</lei>
        <title>Textron Financial Corp.</title>
        <cusip>883199AR2</cusip>
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          <isin value="US883199AR25"/>
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        <balance>3540000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2964750.00000000</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>2042-02-15</maturityDt>
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          <annualizedRt>1.89100080</annualizedRt>
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      <invstOrSec>
        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
        <cusip>37045XDE3</cusip>
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          <isin value="US37045XDE31"/>
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        <balance>810000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>757604.89000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.35000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>First Horizon Bank</name>
        <lei>COOWI3L2W9TPYR3WJX37</lei>
        <title>First Horizon Bank</title>
        <cusip>337158AJ8</cusip>
        <identifiers>
          <isin value="US337158AJ88"/>
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        <balance>1555000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1822582.78000000</valUSD>
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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>Expedia Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-01-31</maturityDt>
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      <invstOrSec>
        <name>Willis North America, Inc.</name>
        <lei>5493004KVU1HWZCP0C66</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Assicurazioni Generali SpA</name>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>PepsiCo, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>New Residential Mortgage Loan Trust</name>
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        <name>N/A</name>
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        <name>FHLMC</name>
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        <name>Empresa Nacional del Petroleo</name>
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        <invCountry>CL</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <title>JPMorgan Chase &amp; Co.</title>
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        <name>China Resources Gas Group Ltd.</name>
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        <name>Royal Bank of Canada</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Bayview Commercial Asset Trust</name>
        <lei>N/A</lei>
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        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
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        <name>NiSource, Inc.</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource, Inc.</title>
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        <name>MassMutual Global Funding II</name>
        <lei>549300K1IE3K7YU6VG29</lei>
        <title>MassMutual Global Funding II</title>
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        <name>Hertz Vehicle Financing III LP</name>
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        <name>HSBC Holdings plc</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings plc</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Unilever plc</name>
        <lei>549300MKFYEKVRWML317</lei>
        <title>Unilever plc</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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          <other otherDesc="Inhouse Sedol" value="TUH2COM"/>
          <other otherDesc="Future Ticker" value="TUH2 Comdty"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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          <other otherDesc="Inhouse Asset ID" value="112493"/>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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      <invstOrSec>
        <name>Vale Overseas Ltd.</name>
        <lei>254900BA3U6G5DNV5V04</lei>
        <title>Vale Overseas Ltd.</title>
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          <isin value="US91911TAP84"/>
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        <balance>2585000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Russell 2000 E-Mini Index</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Sedol" value="RTYH2ID"/>
          <other otherDesc="Future Ticker" value="RTYH2 Index"/>
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        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CME Clearing House</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <indexName>Russell 2000 E-mini Index</indexName>
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      <invstOrSec>
        <name>Analog Devices, Inc.</name>
        <lei>GYVOE5EZ4GDAVTU4CQ61</lei>
        <title>Analog Devices, Inc.</title>
        <cusip>032654105</cusip>
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          <isin value="US0326541051"/>
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        <balance>95920.00000000</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>National Grid plc</name>
        <lei>8R95QZMKZLJX5Q2XR704</lei>
        <title>National Grid plc</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Roche Holding AG</name>
        <lei>549300U41AUUVOAAOB37</lei>
        <title>Roche Holding AG</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AerCap Ireland Capital DAC</name>
        <lei>N/A</lei>
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        <cusip>00774MAD7</cusip>
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        <invCountry>IE</invCountry>
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        <name>Allianz SE</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>American Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
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          <isin value="US023765AA88"/>
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        <balance>519860.00000000</balance>
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        <curCd>USD</curCd>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, REMIC, Series 2021-53, Class GI</title>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>Republic Services, Inc.</title>
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        <name>United States of America</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>3790000.00000000</balance>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>salesforce.com, Inc.</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>salesforce.com, Inc.</title>
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      <invstOrSec>
        <name>DISH DBS Corp.</name>
        <lei>N/A</lei>
        <title>DISH DBS Corp.</title>
        <cusip>25470XBF1</cusip>
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        <balance>2135000.00000000</balance>
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        <valUSD>2043023.99000000</valUSD>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Chevron Corp.</name>
        <lei>N/A</lei>
        <title>Chevron Corp.</title>
        <cusip>166764100</cusip>
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        <name>FNMA</name>
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        <name>Target Corp.</name>
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        <name>Marathon Petroleum Corp.</name>
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        <name>Marathon Petroleum Corp.</name>
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        <name>Lloyds Banking Group plc</name>
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        <name>Gazprom PJSC Via Gaz Capital SA</name>
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        <name>American Electric Power Co., Inc.</name>
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        <name>American Tower Corp.</name>
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        <name>Kilroy Realty LP</name>
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        <name>New Economy Assets Phase 1 Sponsor LLC</name>
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        <name>Ally Financial, Inc.</name>
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        <name>GS Mortgage Securities Corp. Trust</name>
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        <name>Starwood Property Trust, Inc.</name>
        <lei>BUGSFQZERKRBFWIG5267</lei>
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      <invstOrSec>
        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
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        <title>JPMorgan Chase &amp; Co.</title>
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        <balance>1115000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREMF Mortgage Trust</name>
        <lei>N/A</lei>
        <title>FREMF Mortgage Trust, Series 2017-K63, Class C</title>
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          <isin value="US30300HAJ59"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-02-25</maturityDt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="102491"/>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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      <invstOrSec>
        <name>Berry Global, Inc.</name>
        <lei>549300AP2Q7ERHX6RI89</lei>
        <title>Berry Global, Inc.</title>
        <cusip>085770AA3</cusip>
        <identifiers>
          <isin value="US085770AA31"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204750.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MSC Industrial Direct Co., Inc.</name>
        <lei>0XVKH0LN6YGOWO2EGO17</lei>
        <title>MSC Industrial Direct Co., Inc., Class A</title>
        <cusip>553530106</cusip>
        <identifiers>
          <isin value="US5535301064"/>
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        <balance>82538.00000000</balance>
        <units>NS</units>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd.</title>
        <cusip>05401AAH4</cusip>
        <identifiers>
          <isin value="US05401AAH41"/>
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        <balance>2720000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</annualizedRt>
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      <invstOrSec>
        <name>Navient Private Education Refi Loan Trust</name>
        <lei>N/A</lei>
        <title>Navient Private Education Refi Loan Trust, Series 2021-EA, Class B</title>
        <cusip>63942EAB4</cusip>
        <identifiers>
          <isin value="US63942EAB48"/>
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        <balance>3245000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2069-12-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.03000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TruGreen LP</name>
        <lei>549300QNRP2MNHR3QM19</lei>
        <title>TruGreen LP, 1st Lien Term Loan</title>
        <cusip>89787RAH5</cusip>
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        <balance>1331550.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-02</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC, REMIC, Series 4877, Class BE</title>
        <cusip>3137FLXB5</cusip>
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          <isin value="US3137FLXB57"/>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Sysco Corp.</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>Sysco Corp.</title>
        <cusip>871829BJ5</cusip>
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          <isin value="US871829BJ50"/>
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        <balance>1130000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
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      <invstOrSec>
        <name>Sprint Spectrum Co. LLC</name>
        <lei>N/A</lei>
        <title>Sprint Spectrum Co. LLC</title>
        <cusip>85208NAD2</cusip>
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          <isin value="US85208NAD21"/>
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        <balance>3388125.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC</title>
        <cusip>29379VBZ5</cusip>
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          <isin value="US29379VBZ58"/>
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        <balance>1460000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BX Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust, Series 2021-ACNT, Class D</title>
        <cusip>05609QAG1</cusip>
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          <isin value="US05609QAG10"/>
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        <balance>2410000.00000000</balance>
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      <invstOrSec>
        <name>Dell International LLC</name>
        <lei>N/A</lei>
        <title>Dell International LLC</title>
        <cusip>24703TAE6</cusip>
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        <balance>1749000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>J.P. Morgan Mortgage Trust</name>
        <lei>N/A</lei>
        <title>J.P. Morgan Mortgage Trust, Series 2021-7, Class A4</title>
        <cusip>46592NAF3</cusip>
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          <isin value="US46592NAF33"/>
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        <balance>1489273.22000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1481365.18000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.49999840</annualizedRt>
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      <invstOrSec>
        <name>Invitation Homes Operating Partnership LP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tokio Marine Holdings, Inc.</name>
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        <title>Tokio Marine Holdings, Inc.</title>
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          <isin value="JP3910660004"/>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BASF SE</name>
        <lei>529900PM64WH8AF1E917</lei>
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        <cusip>N/A</cusip>
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          <isin value="DE000BASF111"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Ameren Corp.</name>
        <lei>XRZQ5S7HYJFPHJ78L959</lei>
        <title>Ameren Corp.</title>
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          <isin value="US0236081024"/>
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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>Toyota Motor Corp.</name>
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        <title>Toyota Motor Corp.</title>
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          <isin value="JP3633400001"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hudson Yards Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US44421GAA13"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Coca-Cola Co. (The)</name>
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          <isin value="US1912161007"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Citigroup Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Citigroup Commercial Mortgage Trust, Series 2016-GC36, Class A5</title>
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          <isin value="US17324TAE91"/>
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        <balance>560000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Expedia Group, Inc.</name>
        <lei>N/A</lei>
        <title>Expedia Group, Inc.</title>
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          <isin value="US30212PAM77"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-15</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>United Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>United Airlines Pass-Through Trust, Series 2020-1, Class A</title>
        <cusip>90931GAA7</cusip>
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          <isin value="US90931GAA76"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>One Bryant Park Trust</name>
        <lei>N/A</lei>
        <title>One Bryant Park Trust, Series 2019-OBP, Class A</title>
        <cusip>68236JAA9</cusip>
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          <isin value="US68236JAA97"/>
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        <balance>4140000.00000000</balance>
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      <invstOrSec>
        <name>NXP BV</name>
        <lei>N/A</lei>
        <title>NXP BV</title>
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        <balance>1255000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-01</maturityDt>
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          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>International Business Machines Corp.</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>International Business Machines Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>S&amp;P 500 E-Mini Index</title>
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          <other otherDesc="Inhouse Sedol" value="ESH2IDX"/>
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        <curCd>USD</curCd>
        <valUSD>-2052368.80000000</valUSD>
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        <name>Nestle Holdings, Inc.</name>
        <lei>549300EAEU8YV8MQXP30</lei>
        <title>Nestle Holdings, Inc.</title>
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        <name>Anheuser-Busch InBev Worldwide, Inc.</name>
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        <title>Anheuser-Busch InBev Worldwide, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
        <cusip>37045XAW6</cusip>
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        <balance>3800000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Welltower, Inc.</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>Welltower, Inc.</title>
        <cusip>95040Q104</cusip>
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        <invCountry>US</invCountry>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
        <cusip>345397B77</cusip>
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        <balance>940000.00000000</balance>
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        <valUSD>910625.00000000</valUSD>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Dell International LLC</name>
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      <invstOrSec>
        <name>Lennar Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-15</maturityDt>
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      <invstOrSec>
        <name>CF Hippolyta LLC</name>
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      <invstOrSec>
        <name>Expedia Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Manulife Financial Corp.</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Orbia Advance Corp. SAB de CV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dow, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Procter &amp; Gamble Co. (The)</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Public Service Electric and Gas Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-15</maturityDt>
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      <invstOrSec>
        <name>Tyson Foods, Inc.</name>
        <lei>WD6L6041MNRW1JE49D58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Restaurant Brands International, Inc.</name>
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        <title>Restaurant Brands International, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>TruGreen LP</name>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <name>GNMA</name>
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        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Edison International</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>Edison International, Series B</title>
        <cusip>281020AT4</cusip>
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        <balance>2140000.00000000</balance>
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        <valUSD>2131825.20000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>General Motors Co.</name>
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      <invstOrSec>
        <name>Hubbell, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MetLife, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
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      <invstOrSec>
        <name>Realogy Group LLC</name>
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        <name>Siemens AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Verizon Communications, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Quad/Graphics, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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      <invstOrSec>
        <name>Freedom Mortgage Corp.</name>
        <lei>549300LYRWPSYPK6S325</lei>
        <title>Freedom Mortgage Corp.</title>
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      <invstOrSec>
        <name>J.P. Morgan Mortgage Trust</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>QVC, Inc.</name>
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        <name>Bank of America Corp.</name>
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        <name>N/A</name>
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        <name>Allied Universal Holdco LLC</name>
        <lei>N/A</lei>
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        <name>Amgen, Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen, Inc.</title>
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        <name>Connecticut Light and Power Co. (The)</name>
        <lei>549300O45IUXEDS1VZ32</lei>
        <title>Connecticut Light and Power Co. (The)</title>
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        <name>GLP Capital LP</name>
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        <name>Microsoft Corp.</name>
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        <name>International Flavors &amp; Fragrances, Inc.</name>
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        <name>Westpac Banking Corp.</name>
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        <name>Bank of America Corp.</name>
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        <name>Valero Energy Corp.</name>
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        <name>TFDXX LEX BLACKROCK FED FUND</name>
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        <name>Progress Residential</name>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
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      <invstOrSec>
        <name>Emerson Electric Co.</name>
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        <name>N/A</name>
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        <name>Republic of Chile</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Drive Auto Receivables Trust</name>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Arbor Multifamily Mortgage Securities Trust</name>
        <lei>N/A</lei>
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        <name>N/A</name>
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        <title>Euro STOXX 50 Index</title>
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        <name>National Fuel Gas Co.</name>
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        <name>Southwestern Energy Co.</name>
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        <name>MASTR Asset-Backed Securities Trust</name>
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        <name>Honeywell International, Inc.</name>
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        <name>TotalEnergies SE</name>
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        <name>Societe Generale SA</name>
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        <name>GNMA</name>
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        <name>GS Mortgage-Backed Securities Trust</name>
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        <name>Air Lease Corp.</name>
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        <name>Verizon Communications, Inc.</name>
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        <name>Nestle SA</name>
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        <name>Hasbro, Inc.</name>
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        <name>Fortis, Inc.</name>
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        <name>United States of America</name>
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        <name>NatWest Group plc</name>
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        <name>FNMA</name>
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        <name>Raytheon Technologies Corp.</name>
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        <name>Wachovia Corp.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Nordstrom, Inc.</name>
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        <name>N/A</name>
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        <name>FNMA</name>
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        <name>Arizona Public Service Co.</name>
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        <name>British Airways Pass-Through Trust</name>
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      <invstOrSec>
        <name>AbbVie, Inc.</name>
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        <name>Omnicom Group, Inc.</name>
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        <name>Enbridge, Inc.</name>
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        <name>GM Financial Revolving Receivables Trust</name>
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        <name>DB Master Finance LLC</name>
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        <name>Air Lease Corp.</name>
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        <name>N/A</name>
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        <name>FirstKey Homes Trust</name>
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        <name>FNMA</name>
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        <name>WEC Energy Group, Inc.</name>
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        <name>N/A</name>
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        <name>Manhattan West Mortgage Trust</name>
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        <name>Navient Private Education Refi Loan Trust</name>
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        <name>Standard Chartered plc</name>
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        <name>Thor Industries, Inc.</name>
        <lei>254900XZO1228PDSG060</lei>
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        <name>Southwestern Electric Power Co.</name>
        <lei>R64UBJHEC74EB3HGQ410</lei>
        <title>Southwestern Electric Power Co.</title>
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        <name>Voya Financial, Inc.</name>
        <lei>549300T065Z4KJ686G75</lei>
        <title>Voya Financial, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <name>Societe Generale SA</name>
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        <name>UnitedHealth Group, Inc.</name>
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        <name>United States of America</name>
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        <name>FHLMC Structured Agency Credit Risk Debt Notes</name>
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        <name>Deutsche Telekom AG</name>
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        <name>Progress Residential Trust</name>
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        <name>Puget Energy, Inc.</name>
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        <name>Novartis AG</name>
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        <name>Air Lease Corp.</name>
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        <name>PennyMac Financial Services, Inc.</name>
        <lei>549300W1D516HBDEU871</lei>
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      <invstOrSec>
        <name>TELUS Corp.</name>
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        <name>Morgan Stanley Capital I Trust</name>
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        <name>Progress Residential</name>
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        <name>Occidental Petroleum Corp.</name>
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        <name>McDonald's Corp.</name>
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        <name>Citigroup, Inc.</name>
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        <name>McDonald's Corp.</name>
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        <title>McDonald's Corp.</title>
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        <name>AutoNation, Inc.</name>
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        <name>Progress Residential</name>
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        <name>FNMA</name>
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        <name>Hertz Vehicle Financing LLC</name>
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        <name>FHLMC Pool</name>
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        <name>Expedia Group, Inc.</name>
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        <name>T-Mobile USA, Inc.</name>
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        <name>Leggett &amp; Platt, Inc.</name>
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        <name>Extended Stay America Trust</name>
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        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T, Inc.</name>
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        <name>Discover Financial Services</name>
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        <name>Entergy Corp.</name>
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        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <name>Macy's Retail Holdings LLC</name>
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        <name>Banco BTG Pactual SA</name>
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        <name>FNMA</name>
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        <name>American Tower Corp.</name>
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        <name>Kraft Heinz Foods Co.</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>GNMA</name>
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        <name>American Credit Acceptance Receivables Trust</name>
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        <name>Lockheed Martin Corp.</name>
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        <name>Corp. Nacional del Cobre de Chile</name>
        <lei>549300UVMBCBCIPSUI70</lei>
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      </invstOrSec>
      <invstOrSec>
        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp.</title>
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          <isin value="US68389XBZ78"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Valero Energy Corp.</name>
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        <title>Valero Energy Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-12-01</maturityDt>
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      <invstOrSec>
        <name>BXHPP Trust</name>
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          <isin value="US05609JAA07"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vail Resorts, Inc.</name>
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        <title>Vail Resorts, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Avis Budget Rental Car Funding AESOP LLC</name>
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        <cusip>05377RDU5</cusip>
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      <invstOrSec>
        <name>American Airlines, Inc.</name>
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        <name>Virginia Electric and Power Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-15</maturityDt>
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        <name>Texas Instruments, Inc.</name>
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        <name>Evergy, Inc.</name>
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        <title>Evergy, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BX Trust</name>
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        <cusip>05608RAL9</cusip>
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        <balance>3500000.00000000</balance>
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        <name>Iron Mountain, Inc.</name>
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        <title>Iron Mountain, Inc.</title>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG, Series E</title>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMorgan Mortgage Acquisition Trust</name>
        <lei>N/A</lei>
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        <cusip>46630KAA4</cusip>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Inflation Linked Notes</title>
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        <issuerCat>UST</issuerCat>
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          <maturityDt>2029-01-15</maturityDt>
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        <name>Petrobras Global Finance BV</name>
        <lei>549300FNENFFSMO3GT38</lei>
        <title>Petrobras Global Finance BV</title>
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        <balance>1310000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.50000000</annualizedRt>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137FM6K3</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Avis Budget Rental Car Funding AESOP LLC</name>
        <lei>IHXLB8SL0QWSSG2VG640</lei>
        <title>Avis Budget Rental Car Funding AESOP LLC, Series 2020-2A, Class A</title>
        <cusip>05377RDY7</cusip>
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        <balance>845000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
        <cusip>05565AB28</cusip>
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        <balance>1450000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NewRez Warehouse Securitization Trust</name>
        <lei>N/A</lei>
        <title>NewRez Warehouse Securitization Trust, Series 2021-1, Class A</title>
        <cusip>65246PAA9</cusip>
        <identifiers>
          <isin value="US65246PAA93"/>
        </identifiers>
        <balance>1565000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1559872.75000000</valUSD>
        <pctVal>0.096520759954</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-25</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.85771080</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GJZ3</cusip>
        <identifiers>
          <isin value="US06051GJZ37"/>
        </identifiers>
        <balance>1690000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1624374.56000000</valUSD>
        <pctVal>0.100511959698</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-14</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.08700000</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>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
        <cusip>92343VGK4</cusip>
        <identifiers>
          <isin value="US92343VGK44"/>
        </identifiers>
        <balance>770000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>762489.29000000</valUSD>
        <pctVal>0.047180800951</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-03-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</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>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
        <cusip>345397A86</cusip>
        <identifiers>
          <isin value="US345397A860"/>
        </identifiers>
        <balance>1588000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1625715.00000000</valUSD>
        <pctVal>0.100594902545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</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>Las Vegas Sands Corp.</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp.</title>
        <cusip>517834AG2</cusip>
        <identifiers>
          <isin value="US517834AG23"/>
        </identifiers>
        <balance>1415000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1431637.03000000</valUSD>
        <pctVal>0.088585876068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GHR3</cusip>
        <identifiers>
          <isin value="US06051GHR39"/>
        </identifiers>
        <balance>1700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1753443.14000000</valUSD>
        <pctVal>0.108498378736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.45800000</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>Hess Midstream Operations LP</name>
        <lei>N/A</lei>
        <title>Hess Midstream Operations LP</title>
        <cusip>428102AE7</cusip>
        <identifiers>
          <isin value="US428102AE79"/>
        </identifiers>
        <balance>320000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>308800.00000000</valUSD>
        <pctVal>0.019107719314</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS, 30 Year</title>
        <cusip>3133KJVV1</cusip>
        <identifiers>
          <isin value="US3133KJVV15"/>
        </identifiers>
        <balance>2751757.29000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2690024.53000000</valUSD>
        <pctVal>0.166451533903</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</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>2022-02-28</ncom:dateSigned>
      <ncom:nameOfApplicant>MAINSTAY FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Jack Benintende</ncom:signature>
      <ncom:signerName>Jack Benintende</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
