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        <name>Lam Research Corp.</name>
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        <name>United States of America</name>
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        <name>United States of America</name>
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        <name>BlackRock, Inc.</name>
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        <name>MPLX LP</name>
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        <name>Royalty Pharma plc</name>
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        <name>AerCap Ireland Capital DAC / AerCap Global Aviation Trust</name>
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        <name>Experian plc</name>
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        <name>Taiwan Semiconductor Manufacturing Co. Ltd.</name>
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        <name>United Therapeutics Corp.</name>
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        <name>Idemitsu Kosan Co. Ltd.</name>
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        <name>Walmart, Inc.</name>
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        <name>Ingredion, Inc.</name>
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        <name>Valero Energy Corp.</name>
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        <name>Comcast Corp.</name>
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        <name>Simon Property Group LP</name>
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        <name>FHLMC Pool</name>
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        <name>United States of America</name>
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        <name>GNMA</name>
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        <name>NVIDIA Corp.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Paychex, Inc.</name>
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        <name>Telenor ASA</name>
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        <name>N/A</name>
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        <name>Bank of America Corp.</name>
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        <name>Amazon.com, Inc.</name>
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        <name>Meta Platforms, Inc.</name>
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        <name>United States of America</name>
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          <maturityDt>2029-02-15</maturityDt>
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        <name>Ovintiv, Inc.</name>
        <lei>2549003MEX7YMKLGI239</lei>
        <title>Ovintiv, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corp.</title>
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        <name>Alexandria Real Estate Equities, Inc.</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-05-15</maturityDt>
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      <invstOrSec>
        <name>Sea Ltd.</name>
        <lei>529900OM6JLLW44YKI15</lei>
        <title>Sea Ltd.</title>
        <cusip>81141R100</cusip>
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          <isin value="US81141R1005"/>
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      <invstOrSec>
        <name>Advantest Corp.</name>
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        <name>FHLMC Pool</name>
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        <name>Aker BP ASA</name>
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        <name>Jabil, Inc.</name>
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        <name>SMBC Aviation Capital Finance DAC</name>
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        <name>Bank of America Corp.</name>
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        <name>Philip Morris International, Inc.</name>
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        <name>NatWest Group plc</name>
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        <invCountry>GB</invCountry>
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        <name>Xylem, Inc.</name>
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        <name>Chevron Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>United Mexican States</name>
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        <fairValLevel>2</fairValLevel>
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        <name>UnitedHealth Group, Inc.</name>
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        <name>United States of America</name>
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        <name>Var Energi ASA</name>
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        <title>Var Energi ASA</title>
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        <name>GNMA</name>
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        <name>Greenville City School District</name>
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        <name>ING Groep NV</name>
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        <name>Northrop Grumman Corp.</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corp.</title>
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        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp.</title>
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        <name>Zoetis, Inc.</name>
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        <name>Canadian Natural Resources Ltd.</name>
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        <name>Oracle Corp.</name>
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        <name>KLA Corp.</name>
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        <name>Curtiss-Wright Corp.</name>
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        <name>Suncorp Group Ltd.</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Virginia Electric and Power Co.</name>
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        <name>ENEOS Holdings, Inc.</name>
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        <name>Jazz Pharmaceuticals plc</name>
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        <name>Mid-America Apartment Communities, Inc.</name>
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        <name>Subaru Corp.</name>
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        <name>United States of America</name>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>Sony Group Corp.</name>
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        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Ultra Bonds</title>
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          <other otherDesc="Inhouse Asset ID" value="1446816"/>
          <other otherDesc="Future Ticker" value="WNU5 Comdty"/>
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        <name>Xcel Energy, Inc.</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>Xcel Energy, Inc.</title>
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        <name>Gen Digital, Inc.</name>
        <lei>YF6ZV0M6AU4FY94MK914</lei>
        <title>Gen Digital, Inc.</title>
        <cusip>668771108</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>CSL Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Alibaba Group Holding Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Waters Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Eli Lilly &amp; Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Danaher Corp.</name>
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        <name>Atlas Copco AB</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Stryker Corp.</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Icon Investments Six DAC</name>
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        <title>Icon Investments Six DAC</title>
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        <name>Mars, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>US Bancorp</name>
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        <balance>13848.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, Single-family, 30 Year</title>
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        <balance>158694.73000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <maturityDt>2054-06-20</maturityDt>
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        <name>Howmet Aerospace, Inc.</name>
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        <name>N/A</name>
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        <name>GNMA</name>
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        <name>PayPal Holdings, Inc.</name>
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        <name>Comcast Corp.</name>
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        <title>Comcast Corp.</title>
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        <name>Alphabet, Inc.</name>
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        <title>Alphabet, Inc., Class C</title>
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        <name>Commonwealth Bank of Australia</name>
        <lei>MSFSBD3QN1GSN7Q6C537</lei>
        <title>Commonwealth Bank of Australia</title>
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        <invCountry>AU</invCountry>
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        <name>Medpace Holdings, Inc.</name>
        <lei>549300H8TYEUVTW14A54</lei>
        <title>Medpace Holdings, Inc.</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>Intel Corp.</name>
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        <name>Amadeus IT Group SA</name>
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        <name>International Business Machines Corp.</name>
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        <name>Cigna Group (The)</name>
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        <name>Biogen, Inc.</name>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <name>Asahi Kasei Corp.</name>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
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        <name>Sanofi SA</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>GE Vernova, Inc.</name>
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        <name>Next plc</name>
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        <name>Haleon US Capital LLC</name>
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        <name>Fortescue Ltd.</name>
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        <name>GSK plc</name>
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        <name>Republic Services, Inc.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
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        <name>Brambles Ltd.</name>
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        <title>Brambles Ltd.</title>
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        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
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        <name>Check Point Software Technologies Ltd.</name>
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        <name>CSAIL Commercial Mortgage Trust</name>
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        <name>Berkshire Hathaway, Inc.</name>
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        <name>NVIDIA Corp.</name>
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        <title>NVIDIA Corp.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GNMA</name>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NextEra Energy, Inc.</name>
        <lei>254900RHL9MEUS5NKX63</lei>
        <title>NextEra Energy, Inc.</title>
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          <isin value="US65339F1012"/>
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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>Gaming and Leisure Properties, Inc.</name>
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        <title>Gaming and Leisure Properties, Inc.</title>
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          <isin value="US36467J1088"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Recruit Holdings Co. Ltd.</name>
        <lei>353800R2LRSMVVC4I806</lei>
        <title>Recruit Holdings Co. Ltd.</title>
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          <isin value="JP3970300004"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kirin Holdings Co. Ltd.</name>
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        <title>Kirin Holdings Co. Ltd.</title>
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          <isin value="JP3258000003"/>
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        <balance>13500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Komatsu Ltd.</name>
        <lei>5493004LQ0B4T7QPQV17</lei>
        <title>Komatsu Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="JP3304200003"/>
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        <balance>10800.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PepsiCo, Inc.</name>
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        <title>PepsiCo, Inc.</title>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>adidas AG</name>
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        <title>adidas AG</title>
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          <isin value="DE000A1EWWW0"/>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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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>097023105</cusip>
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          <isin value="US0970231058"/>
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        <balance>3050.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sartorius AG</name>
        <lei>529900EQV2DY4FOAMU38</lei>
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        <cusip>N/A</cusip>
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          <isin value="DE0007165631"/>
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        <assetCat>EP</assetCat>
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        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sika AG</name>
        <lei>549300R3N69ECGYPU434</lei>
        <title>Sika AG</title>
        <cusip>N/A</cusip>
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          <isin value="CH0418792922"/>
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        <balance>3300.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US91282CFV81"/>
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        <balance>3500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fox Corp.</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>Fox Corp., Class A</title>
        <cusip>35137L105</cusip>
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          <isin value="US35137L1052"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29273RBF5</cusip>
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          <isin value="US29273RBF55"/>
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        <balance>505000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>445490.38000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-03-15</maturityDt>
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          <annualizedRt>5.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Travelers Cos., Inc. (The)</name>
        <lei>549300Y650407RU8B149</lei>
        <title>Travelers Cos., Inc. (The)</title>
        <cusip>89417E109</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>CaixaBank SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
        <title>CaixaBank SA</title>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-03</maturityDt>
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      <invstOrSec>
        <name>Deutsche Boerse AG</name>
        <lei>529900G3SW56SHYNPR95</lei>
        <title>Deutsche Boerse AG</title>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Exelon Corp.</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>Exelon Corp.</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Canadian Natural Resources Ltd.</name>
        <lei>549300T15RIMIKZC5Q38</lei>
        <title>Canadian Natural Resources Ltd.</title>
        <cusip>136385AL5</cusip>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>145305.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Compass Group plc</name>
        <lei>2138008M6MH9OZ6U2T68</lei>
        <title>Compass Group plc</title>
        <cusip>N/A</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Nitto Denko Corp.</name>
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        <name>Vodafone Group plc</name>
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        <name>Dropbox, Inc.</name>
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        <name>Fair Isaac Corp.</name>
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        <name>Georgia Power Co.</name>
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        <name>Motorola Solutions, Inc.</name>
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        <name>Argenx SE</name>
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        <name>Cheniere Energy, Inc.</name>
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        <name>AP Moller - Maersk A/S</name>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>FHLMC Pool</name>
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        <name>Albertsons Cos., Inc.</name>
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        <name>Veralto Corp.</name>
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        <name>FedEx Corp.</name>
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        <name>Adecco Group AG</name>
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        <name>Snap-on, Inc.</name>
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        <name>American Express Co.</name>
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        <name>Oracle Corp.</name>
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        <name>Marriott International, Inc.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
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        <invCountry>US</invCountry>
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        <name>Rexel SA</name>
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        <name>Taiwan Semiconductor Manufacturing Co. Ltd.</name>
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        <name>Eli Lilly &amp; Co.</name>
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        <name>FHLMC Pool</name>
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        <name>Industria de Diseno Textil SA</name>
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        <name>Paramount Global</name>
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        <name>Tesla, Inc.</name>
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        <name>United States of America</name>
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        <name>Kering SA</name>
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        <name>Deutsche Post AG</name>
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      <invstOrSec>
        <name>GNMA</name>
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        <name>Howmet Aerospace, Inc.</name>
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        <name>FNMA</name>
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        <name>N/A</name>
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        <name>United States of America</name>
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        <title>U.S. Treasury Bonds</title>
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        <name>GNMA</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <title>S&amp;P 500 E-Mini Index</title>
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          <other otherDesc="Future Ticker" value="ESU5 Index"/>
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        <name>Northrop Grumman Corp.</name>
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        <name>Targa Resources Partners LP / Targa Resources Partners Finance Corp.</name>
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        <name>Ipsen SA</name>
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      <invstOrSec>
        <name>Chocoladefabriken Lindt &amp; Spruengli AG</name>
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        <title>Chocoladefabriken Lindt &amp; Spruengli AG</title>
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        <name>Apple, Inc.</name>
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        <title>Apple, Inc.</title>
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        <name>Sun Hung Kai Properties Ltd.</name>
        <lei>529900LUMD393RD3S874</lei>
        <title>Sun Hung Kai Properties Ltd.</title>
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        <name>Becton Dickinson &amp; Co.</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
        <title>Becton Dickinson &amp; Co.</title>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
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      <invstOrSec>
        <name>BlackRock Funding, Inc.</name>
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      <invstOrSec>
        <name>Mitsubishi Estate Co. Ltd.</name>
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        <name>Ageas SA</name>
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        <name>Royal Bank of Canada</name>
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      <invstOrSec>
        <name>Enterprise Products Partners LP</name>
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        <name>Vodafone Group plc</name>
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        <name>FNMA</name>
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        <title>FNMA, 30 Year</title>
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          <isin value="US31418D4X74"/>
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        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>Aegon Ltd.</name>
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        <title>Aegon Ltd.</title>
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        <invCountry>BM</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>MS&amp;AD Insurance Group Holdings, Inc.</name>
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        <title>MS&amp;AD Insurance Group Holdings, Inc.</title>
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          <isin value="JP3890310000"/>
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        <invCountry>JP</invCountry>
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        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
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        <name>Marvell Technology, Inc.</name>
        <lei>N/A</lei>
        <title>Marvell Technology, Inc.</title>
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        <name>Simon Property Group, Inc.</name>
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        <title>Simon Property Group, Inc.</title>
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        <name>Corebridge Financial, Inc.</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>Corebridge Financial, Inc.</title>
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        <balance>150000.00000000</balance>
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        <name>Wells Fargo Commercial Mortgage Trust</name>
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        <name>Westlake Corp.</name>
        <lei>GOXNEVUM0LL78B1OS344</lei>
        <title>Westlake Corp.</title>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Smurfit WestRock plc</name>
        <lei>635400EGSEOPDW2EXS14</lei>
        <title>Smurfit WestRock plc</title>
        <cusip>N/A</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tesla, Inc.</name>
        <lei>54930043XZGB27CTOV49</lei>
        <title>Tesla, Inc.</title>
        <cusip>88160R101</cusip>
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        <balance>1070.00000000</balance>
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      <invstOrSec>
        <name>Mizuho Financial Group, Inc.</name>
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        <name>EDP Finance BV</name>
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        <name>United States of America</name>
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        <name>GNMA</name>
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        <name>Johnson Controls International plc</name>
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        <name>Publicis Groupe SA</name>
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        <name>United States of America</name>
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        <name>United States of America</name>
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        <name>LVMH Moet Hennessy Louis Vuitton SE</name>
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        <name>Howmet Aerospace, Inc.</name>
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        <name>Athene Holding Ltd.</name>
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        <name>Enel Finance International NV</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>ASML Holding NV</name>
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        <name>Pro Medicus Ltd.</name>
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        <name>CK Asset Holdings Ltd.</name>
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        <name>Republic Services, Inc.</name>
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        <name>Berkshire Hathaway Finance Corp.</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>Jones Lang LaSalle, Inc.</name>
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        <name>AXA SA</name>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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      <invstOrSec>
        <name>United Airlines Pass-Through Trust</name>
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          <isin value="US90932MAA36"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FFCB</name>
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          <isin value="US3133EMRX20"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>117253.66000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-02-25</maturityDt>
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          <annualizedRt>2.10000000</annualizedRt>
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      <invstOrSec>
        <name>Newmont Corp.</name>
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        <title>Newmont Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>VAT Group AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Exelixis, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Schneider Electric SE</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Global Payments, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-15</maturityDt>
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        <name>Tokyo Electron Ltd.</name>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Skyworks Solutions, Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Trane Technologies plc</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <name>FNMA</name>
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        <name>United States of America</name>
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        <name>Scout24 SE</name>
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        <invCountry>DE</invCountry>
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        <name>Sherwin-Williams Co. (The)</name>
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        <invCountry>US</invCountry>
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        <name>VeriSign, Inc.</name>
        <lei>LMPL4N8ZOJRMF0KOF759</lei>
        <title>VeriSign, Inc.</title>
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        <invCountry>US</invCountry>
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        <name>Siemens Funding BV</name>
        <lei>213800CCRGH2TO338X64</lei>
        <title>Siemens Funding BV</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>NL</invCountry>

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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2053-07-20</maturityDt>
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      <invstOrSec>
        <name>Old Republic International Corp.</name>
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        <title>Old Republic International Corp.</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nice Ltd.</name>
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        <title>Nice Ltd.</title>
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        <curCd>USD</curCd>
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        <invCountry>IL</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Charter Communications Operating LLC / Charter Communications Operating Capital Corp.</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC / Charter Communications Operating Capital Corp.</title>
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          <isin value="US161175CR30"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hermes International SCA</name>
        <lei>969500Y4IJGHJE2MTJ13</lei>
        <title>Hermes International SCA</title>
        <cusip>N/A</cusip>
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          <isin value="FR0000052292"/>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31418EVA5</cusip>
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          <isin value="US31418EVA53"/>
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        <balance>429044.53000000</balance>
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        <curCd>USD</curCd>
        <valUSD>436991.31000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Telefonaktiebolaget LM Ericsson</name>
        <lei>549300W9JLPW15XIFM52</lei>
        <title>Telefonaktiebolaget LM Ericsson, Class B</title>
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          <isin value="SE0000108656"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>SE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Eastern Energy Gas Holdings LLC</name>
        <lei>549300BFOD6TDMVV4O24</lei>
        <title>Eastern Energy Gas Holdings LLC</title>
        <cusip>27636AAB8</cusip>
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          <isin value="US27636AAB89"/>
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        <balance>290000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>302006.33000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Morgan Stanley Bank of America Merrill Lynch Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C27, Class AS</title>
        <cusip>61690AAG9</cusip>
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          <isin value="US61690AAG94"/>
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        <balance>49000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>48676.35000000</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>2047-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.06800000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hitachi Ltd.</name>
        <lei>549300T6IPOCDWLKC615</lei>
        <title>Hitachi Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3788600009"/>
          <other otherDesc="Inhouse Asset ID" value="17636"/>
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        <balance>19100.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="144.00500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WW Grainger, Inc.</name>
        <lei>549300TWZSP6O1IH2V34</lei>
        <title>WW Grainger, Inc.</title>
        <cusip>384802104</cusip>
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          <isin value="US3848021040"/>
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        <balance>246.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>255899.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
        <title>Hyundai Capital America</title>
        <cusip>44891ACV7</cusip>
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          <isin value="US44891ACV70"/>
          <other otherDesc="Inhouse Asset ID" value="1323020"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>204414.12000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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      <invstOrSec>
        <name>HDFC Bank Ltd.</name>
        <lei>335800ZQ6I4E2JXENC50</lei>
        <title>HDFC Bank Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="INE040A01034"/>
          <other otherDesc="Inhouse Asset ID" value="208348"/>
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        <balance>37751.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="85.76000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Travelers Cos., Inc. (The)</name>
        <lei>549300Y650407RU8B149</lei>
        <title>Travelers Cos., Inc. (The)</title>
        <cusip>89417E109</cusip>
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          <isin value="US89417E1091"/>
          <other otherDesc="Inhouse Asset ID" value="1155"/>
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        <balance>335.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>89625.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Athene Global Funding</name>
        <lei>549300LM1QSI4MSIL320</lei>
        <title>Athene Global Funding</title>
        <cusip>04685A2Y6</cusip>
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          <isin value="US04685A2Y60"/>
          <other otherDesc="Inhouse Asset ID" value="1180263"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>175716.04000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.67300000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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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="282769"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-1504.69000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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      <invstOrSec>
        <name>Enel SpA</name>
        <lei>WOCMU6HCI0OJWNPRZS33</lei>
        <title>Enel SpA</title>
        <cusip>N/A</cusip>
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          <isin value="IT0003128367"/>
          <other otherDesc="Inhouse Asset ID" value="178352"/>
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        <balance>7103.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc.</title>
        <cusip>91324PFQ0</cusip>
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          <isin value="US91324PFQ00"/>
          <other otherDesc="Inhouse Asset ID" value="1488339"/>
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        <balance>95000.00000000</balance>
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        <valUSD>96862.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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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="277095"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>8985.90000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>Citibank</counterpartyName>
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      <invstOrSec>
        <name>Genpact Ltd.</name>
        <lei>529900OSEC6Q0L4L5B35</lei>
        <title>Genpact Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG3922B1072"/>
          <other otherDesc="Inhouse Asset ID" value="394609"/>
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        <balance>2250.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>99022.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
        <cusip>71654QDF6</cusip>
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        <name>Eiffage SA</name>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
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        <name>Chipotle Mexican Grill, Inc.</name>
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        <name>FNMA</name>
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        <name>Adobe, Inc.</name>
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        <name>Novo Nordisk A/S</name>
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        <name>Air Liquide SA</name>
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        <name>Japan Post Insurance Co. Ltd.</name>
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        <name>Imperial Brands plc</name>
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        <name>Mizuho Financial Group, Inc.</name>
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        <name>Altria Group, Inc.</name>
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        <name>Owens Corning</name>
        <lei>JO5M6676RDJIZ2U8X907</lei>
        <title>Owens Corning</title>
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        <name>Amazon.com, Inc.</name>
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        <title>Amazon.com, Inc.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>GNMA</name>
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        <name>CSAIL</name>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <name>Veeva Systems, Inc.</name>
        <lei>549300YZEXPDB92M2F02</lei>
        <title>Veeva Systems, Inc., Class A</title>
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        <invCountry>US</invCountry>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810SF6</cusip>
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        <name>Wolters Kluwer NV</name>
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        <name>Orange SA</name>
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        <name>Shionogi &amp; Co. Ltd.</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>ASML Holding NV</name>
        <lei>724500Y6DUVHQD6OXN27</lei>
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        <balance>730.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-22</maturityDt>
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        <name>GEA Group AG</name>
        <lei>549300PHUU0ZZWO8EO07</lei>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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          <other otherDesc="Future Ticker" value="TYU5 Comdty"/>
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        <name>Autodesk, Inc.</name>
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        <name>Equinix, Inc.</name>
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        <name>Golden State Tobacco Securitization Corp.</name>
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        <name>TE Connectivity plc</name>
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        <name>Deere &amp; Co.</name>
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        <name>Marvell Technology, Inc.</name>
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        <name>GNMA</name>
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        <name>RS Group plc</name>
        <lei>549300KVXDURRKVW7R37</lei>
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        <name>Universal Health Services, Inc.</name>
        <lei>549300YGMGQDO0NMJD09</lei>
        <title>Universal Health Services, Inc., Class B</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Swissquote Group Holding SA</name>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Lyft, Inc.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Eurofins Scientific SE</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sammons Financial Group, Inc.</name>
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        <title>Sammons Financial Group, Inc.</title>
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          <isin value="US79588TAF75"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <curCd>N/A</curCd>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="279371"/>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Citibank</counterpartyName>
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      <invstOrSec>
        <name>Tesco plc</name>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Axis Capital Holdings Ltd.</name>
        <lei>635400VD2NQBYAHMEM55</lei>
        <title>Axis Capital Holdings Ltd.</title>
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        <balance>978.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Pool, 30 Year</title>
        <cusip>3132DSG22</cusip>
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          <isin value="US3132DSG220"/>
          <other otherDesc="Inhouse Asset ID" value="1346801"/>
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        <balance>838967.80400000</balance>
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        <curCd>USD</curCd>
        <valUSD>666094.07000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Iberdrola SA</name>
        <lei>5QK37QC7NWOJ8D7WVQ45</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US91282CDP32"/>
          <other otherDesc="Inhouse Asset ID" value="1183303"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Consolidated Edison, Inc.</name>
        <lei>54930033SBW53OO8T749</lei>
        <title>Consolidated Edison, Inc.</title>
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        <name>United States of America</name>
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        <name>Danske Bank A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
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        <name>Baltimore Gas and Electric Co.</name>
        <lei>88V8C2WYSOD1SPSSLH72</lei>
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        <name>Freeport-McMoRan, Inc.</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan, Inc.</title>
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        <name>Southern Co. (The)</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co. (The)</title>
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        <assetCat>EC</assetCat>
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        <name>MetLife, Inc.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife, Inc.</title>
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        <balance>200000.00000000</balance>
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      <invstOrSec>
        <name>Sherwin-Williams Co. (The)</name>
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        <name>Mattel, Inc.</name>
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        <name>Citigroup, Inc.</name>
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        <name>3i Group plc</name>
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        <name>Fast Retailing Co. Ltd.</name>
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        <name>BP plc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Brunswick Corp.</name>
        <lei>YM4O38W15AX4YLLQKU27</lei>
        <title>Brunswick Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BPCE SA</name>
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        <name>FHLMC Pool</name>
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        <name>Enterprise Products Partners LP</name>
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        <name>Airbnb, Inc.</name>
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        <name>Apple, Inc.</name>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>Georg Fischer AG</name>
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        <name>Cheniere Energy, Inc.</name>
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        <name>Ryder System, Inc.</name>
        <lei>ZXJ6Y2OSPZXIVGRILD15</lei>
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        <name>ASM International NV</name>
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        <name>N/A</name>
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        <name>United States of America</name>
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      <invstOrSec>
        <name>AutoZone, Inc.</name>
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        <title>AutoZone, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
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          <isin value="US3140QPSK44"/>
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        <balance>0.00600000</balance>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pfizer Investment Enterprises Pte. Ltd.</name>
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        <title>Pfizer Investment Enterprises Pte. Ltd.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <isin value="US36179W5A24"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BX Commercial Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US05610HAA14"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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        <curCd>N/A</curCd>
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        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Huntington Bancshares, Inc.</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares, Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Otis Worldwide Corp.</name>
        <lei>549300ZLBKR8VSU25153</lei>
        <title>Otis Worldwide Corp.</title>
        <cusip>68902V107</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Netflix, Inc.</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>Netflix, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BAE Systems plc</name>
        <lei>8SVCSVKSGDWMW2QHOH83</lei>
        <title>BAE Systems plc</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-03-26</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>American Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, Single-family, 30 Year</title>
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          <isin value="US36179YU776"/>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>3140X5SU8</cusip>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>Otis Worldwide Corp.</name>
        <lei>549300ZLBKR8VSU25153</lei>
        <title>Otis Worldwide Corp.</title>
        <cusip>68902V107</cusip>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
        <cusip>902613AE8</cusip>
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          <isin value="US902613AE83"/>
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        <balance>425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>367735.51000000</valUSD>
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        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-11</maturityDt>
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      <invstOrSec>
        <name>Charles Schwab Corp. (The)</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp. (The)</title>
        <cusip>808513105</cusip>
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          <isin value="US8085131055"/>
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        <balance>10529.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>960665.96000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tencent Holdings Ltd.</name>
        <lei>254900N4SLUMW4XUYY11</lei>
        <title>Tencent Holdings Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG875721634"/>
          <other otherDesc="Inhouse Asset ID" value="318608"/>
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        <balance>10321.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hoya Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Broadcom, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>McKesson Corp.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Asset ID" value="280124"/>
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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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      <invstOrSec>
        <name>Martin Marietta Materials, Inc.</name>
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        <title>Martin Marietta Materials, Inc.</title>
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        <name>Prologis Targeted US Logistics Fund LP</name>
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        <title>Prologis Targeted US Logistics Fund LP</title>
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      <invstOrSec>
        <name>Meta Platforms, Inc.</name>
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        <title>Meta Platforms, Inc.</title>
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      <invstOrSec>
        <name>ABB Ltd.</name>
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        <invCountry>CH</invCountry>
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        <name>BAE Systems plc</name>
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        <invCountry>GB</invCountry>
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        <name>Northern Star Resources Ltd.</name>
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        <invCountry>AU</invCountry>
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        <name>Investor AB</name>
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        <name>Southern Co. Gas Capital Corp.</name>
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        <title>Southern Co. Gas Capital Corp.</title>
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        <name>Abbott Laboratories</name>
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        <title>Abbott Laboratories</title>
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        <invCountry>US</invCountry>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Pool, 30 Year</title>
        <cusip>3132DWD75</cusip>
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        <invCountry>US</invCountry>
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        <name>Meta Platforms, Inc.</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
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        <name>Medtronic plc</name>
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        <name>Koninklijke Ahold Delhaize NV</name>
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        <title>Koninklijke Ahold Delhaize NV</title>
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        <name>United Airlines Holdings, Inc.</name>
        <lei>98450079DA0B78DD6764</lei>
        <title>United Airlines Holdings, Inc.</title>
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        <name>Air Products and Chemicals, Inc.</name>
        <lei>7QEON6Y1RL5XR3R1W237</lei>
        <title>Air Products and Chemicals, Inc.</title>
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        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
        <cusip>14040H105</cusip>
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        <name>Costco Wholesale Corp.</name>
        <lei>29DX7H14B9S6O3FD6V18</lei>
        <title>Costco Wholesale Corp.</title>
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        <name>BWX Technologies, Inc.</name>
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        <name>Amcor Flexibles North America, Inc.</name>
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        <name>Lowe's Cos., Inc.</name>
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        <name>Bayer US Finance II LLC</name>
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        <name>FNMA</name>
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        <name>Hess Corp.</name>
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        <name>Alexandria Real Estate Equities, Inc.</name>
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        <name>Sage Group plc (The)</name>
        <lei>2138005RN5XYLTF8G138</lei>
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        <name>Qantas Airways Ltd.</name>
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        <name>Leonardo SpA</name>
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      <invstOrSec>
        <name>Pacific Gas and Electric Co.</name>
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      <invstOrSec>
        <name>DBS Group Holdings Ltd.</name>
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      <invstOrSec>
        <name>FNMA</name>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
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        <title>Bank of America Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CFCRE Commercial Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</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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        <fairValLevel>2</fairValLevel>
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        <name>Reckitt Benckiser Group plc</name>
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        <name>Canon, Inc.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US31418D3Z32"/>
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        <name>Palantir Technologies, Inc.</name>
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        <name>GNMA</name>
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        <name>United Mexican States</name>
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        <name>AT&amp;T, Inc.</name>
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        <title>AT&amp;T, Inc.</title>
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        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
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        <invCountry>IT</invCountry>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp., Class A</title>
        <cusip>20030N101</cusip>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>GoDaddy, Inc.</name>
        <lei>549300J8H1TB0I2CB447</lei>
        <title>GoDaddy, Inc., Class A</title>
        <cusip>380237107</cusip>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co.</name>
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        <name>SAP SE</name>
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        <name>Blackstone, Inc.</name>
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        <name>FNMA</name>
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        <name>United States of America</name>
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        <name>FNMA</name>
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        <name>Delta Air Lines, Inc. / SkyMiles IP Ltd.</name>
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        <name>Cisco Systems, Inc.</name>
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        <name>RTX Corp.</name>
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        <name>Workday, Inc.</name>
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        <title>Workday, Inc.</title>
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        <name>Wartsila OYJ Abp</name>
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        <name>Vodafone Group plc</name>
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        <name>PepsiCo, Inc.</name>
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        <name>Bandai Namco Holdings, Inc.</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Coca-Cola Consolidated, Inc.</name>
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        <name>Arch Capital Group Ltd.</name>
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        <name>Asics Corp.</name>
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        <name>BX Trust</name>
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        <name>Foundry JV Holdco LLC</name>
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        <name>DR Horton, Inc.</name>
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        <name>GNMA</name>
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        <name>Mitsubishi Chemical Group Corp.</name>
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        <name>Oracle Corp.</name>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <name>Cognizant Technology Solutions Corp.</name>
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        <title>Cognizant Technology Solutions Corp., Class A</title>
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        <name>Cochlear Ltd.</name>
        <lei>5493001OLLWY8KV5UC08</lei>
        <title>Cochlear Ltd.</title>
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        <name>First Industrial Realty Trust, Inc.</name>
        <lei>N/A</lei>
        <title>First Industrial Realty Trust, Inc.</title>
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        <name>Thermo Fisher Scientific, Inc.</name>
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        <name>Motorola Solutions, Inc.</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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      <invstOrSec>
        <name>Workday, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Williams Cos., Inc. (The)</name>
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        <name>Cigna Group (The)</name>
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        <name>Erste Group Bank AG</name>
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        <invCountry>AT</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Targa Resources Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-02-15</maturityDt>
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      <invstOrSec>
        <name>JBS USA Holding Lux Sarl / JBS USA Foods Group Holdings, Inc. / JBS USA Food Co.</name>
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      <invstOrSec>
        <name>Berkshire Hathaway, Inc.</name>
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        <name>United States of America</name>
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        <issuerCat>UST</issuerCat>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <name>FNMA</name>
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        <issuerCat>USGSE</issuerCat>
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        <name>Unilever plc</name>
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        <name>Charter Communications Operating LLC / Charter Communications Operating Capital</name>
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        <name>T-Mobile USA, Inc.</name>
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        <title>T-Mobile USA, Inc.</title>
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        <name>Jefferies Financial Group, Inc.</name>
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        <title>Jefferies Financial Group, Inc.</title>
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        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
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      <invstOrSec>
        <name>Securitas AB</name>
        <lei>635400TTYKE8EIWDS617</lei>
        <title>Securitas AB, Class B</title>
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        <name>Lowe's Cos., Inc.</name>
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        <name>Roche Holding AG</name>
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        <name>Allianz SE</name>
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        <name>United States of America</name>
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        <name>Arab Republic of Egypt</name>
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        <name>Vodafone Group plc</name>
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        <name>FHLMC Pool</name>
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        <name>Berkshire Hathaway Energy Co.</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>Marvell Technology, Inc.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Ascension Health</name>
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        <name>Exelon Corp.</name>
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        <name>Yokogawa Electric Corp.</name>
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        <name>Home Depot, Inc. (The)</name>
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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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        <name>KDDI Corp.</name>
        <lei>5299003FU7V4I45FU310</lei>
        <title>KDDI Corp.</title>
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        <name>Chevron Corp.</name>
        <lei>N/A</lei>
        <title>Chevron Corp.</title>
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        <name>FHLMC Pool</name>
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        <name>Bank of America Corp.</name>
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        <name>Intuitive Surgical, Inc.</name>
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        <name>Morgan Stanley</name>
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        <name>Cisco Systems, Inc.</name>
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        <name>United States of America</name>
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        <name>Edison International</name>
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        <name>N/A</name>
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        <name>United States of America</name>
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        <name>McCormick &amp; Co., Inc.</name>
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        <name>Regeneron Pharmaceuticals, Inc.</name>
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        <name>Insulet Corp.</name>
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        <name>ConocoPhillips</name>
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        <name>AT&amp;T, Inc.</name>
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        <name>GNMA</name>
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        <name>Truist Financial Corp.</name>
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        <name>JD Sports Fashion plc</name>
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        <name>Analog Devices, Inc.</name>
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        <name>Chugai Pharmaceutical Co. Ltd.</name>
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        <name>Pilgrim's Pride Corp.</name>
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        <name>AIB Group plc</name>
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        <name>AT&amp;T, Inc.</name>
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        <name>GNMA</name>
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      <invstOrSec>
        <name>Reliance, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Vistra Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Roche Holding AG</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ABN AMRO Bank NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ConocoPhillips</name>
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        <fairValLevel>1</fairValLevel>
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        <name>FHLMC Pool</name>
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        <name>United States of America</name>
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        <name>Netflix, Inc.</name>
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        <name>Bank of America Corp.</name>
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        <name>Boeing Co. (The)</name>
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        <name>Verisk Analytics, Inc.</name>
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        <name>Ingersoll Rand, Inc.</name>
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        <title>Ingersoll Rand, Inc.</title>
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        <name>BASF SE</name>
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        <invCountry>DE</invCountry>
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        <name>Allegion plc</name>
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        <name>IDEXX Laboratories, Inc.</name>
        <lei>OGMTXK0LUU1HKV2P0J84</lei>
        <title>IDEXX Laboratories, Inc.</title>
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        <name>T Rowe Price Group, Inc.</name>
        <lei>549300SIV6FPS9Y7IH33</lei>
        <title>T Rowe Price Group, Inc.</title>
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        <name>Duke Energy Florida LLC</name>
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        <name>N/A</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Toyota Motor Corp.</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Conagra Brands, Inc.</name>
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        <name>JBS USA Holding Lux SARL / JBS USA Food Co. / JBS Lux Co. SARL</name>
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        <name>Carrefour SA</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Genmab A/S</name>
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        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>WH Group Ltd.</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <name>Infineon Technologies AG</name>
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        <invCountry>DE</invCountry>
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        <name>TJX Cos., Inc. (The)</name>
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        <name>AppLovin Corp.</name>
        <lei>549300LLVXMUAOL3SQ07</lei>
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        <name>XPO, Inc.</name>
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        <name>FNMA</name>
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        <name>ServiceNow, Inc.</name>
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        <name>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp.</title>
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        <name>Brown &amp; Brown, Inc.</name>
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      <invstOrSec>
        <name>Visa, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ARM Holdings plc</name>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>American Tower Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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      <invstOrSec>
        <name>Geberit AG</name>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>VICI Properties, Inc.</name>
        <lei>254900RKH6RY9KCJQH63</lei>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Republic of South Africa</name>
        <lei>378900AAFB4F17004C49</lei>
        <title>South Africa Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ZAG000096173"/>
          <other otherDesc="Inhouse Asset ID" value="643715"/>
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        <balance>5200000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ZA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CBL4</cusip>
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          <isin value="US91282CBL46"/>
          <other otherDesc="Inhouse Asset ID" value="1134006"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>692375.00000000</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>2031-02-15</maturityDt>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Pool, 30 Year</title>
        <cusip>3133KHSV9</cusip>
        <identifiers>
          <isin value="US3133KHSV95"/>
          <other otherDesc="Inhouse Asset ID" value="1068190"/>
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        <balance>395806.58600000</balance>
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        <curCd>USD</curCd>
        <valUSD>347904.89000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2050-03-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Straumann Holding AG</name>
        <lei>50670046ML5FVIM60Z37</lei>
        <title>Straumann Holding AG</title>
        <cusip>N/A</cusip>
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          <isin value="CH1175448666"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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        <name>Hewlett Packard Enterprise Co.</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>Hewlett Packard Enterprise Co.</title>
        <cusip>42824CBR9</cusip>
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          <isin value="US42824CBR97"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-25</maturityDt>
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          <annualizedRt>4.45000000</annualizedRt>
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        <name>IQVIA, Inc.</name>
        <lei>549300PLWY28YB00C717</lei>
        <title>IQVIA, Inc.</title>
        <cusip>46266TAF5</cusip>
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        <balance>100000.00000000</balance>
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        <name>Procter &amp; Gamble Co. (The)</name>
        <lei>2572IBTT8CCZW6AU4141</lei>
        <title>Procter &amp; Gamble Co. (The)</title>
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        <invCountry>US</invCountry>
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        <name>Aena SME SA</name>
        <lei>959800R7QMXKF0NFMT29</lei>
        <title>Aena SME SA</title>
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        <assetCat>EC</assetCat>
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        <invCountry>ES</invCountry>
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      <invstOrSec>
        <name>UniCredit SpA</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UniCredit SpA</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810TN8</cusip>
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        <balance>605000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>Agilent Technologies, Inc.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>Agilent Technologies, Inc.</title>
        <cusip>00846U101</cusip>
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        <balance>2502.00000000</balance>
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        <valUSD>295261.02000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>Air Products and Chemicals, Inc.</name>
        <lei>7QEON6Y1RL5XR3R1W237</lei>
        <title>Air Products and Chemicals, Inc.</title>
        <cusip>009158106</cusip>
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          <isin value="US0091581068"/>
          <other otherDesc="Inhouse Asset ID" value="14089"/>
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        <balance>5139.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1449506.34000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>FHLMC Pool</name>
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        <name>American Express Co.</name>
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        <name>TotalEnergies Capital SA</name>
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        <name>Hess Corp.</name>
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        <name>Elevance Health, Inc.</name>
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        <name>UBS Group AG</name>
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        <name>Public Service Enterprise Group, Inc.</name>
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        <name>Persimmon plc</name>
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        <name>CNH Industrial NV</name>
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        <name>JPMBB Commercial Mortgage Securities Trust</name>
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        <name>FHLMC Pool</name>
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        <name>Royalty Pharma plc</name>
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        <name>Amazon.com, Inc.</name>
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        <name>Martin Marietta Materials, Inc.</name>
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        <name>Siemens AG</name>
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        <name>People's Republic of China</name>
        <lei>300300CHN201808MOF68</lei>
        <title>China Government Bond</title>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Charter Communications Operating LLC / Charter Communications Operating Capital</name>
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      <invstOrSec>
        <name>Cie Generale des Etablissements Michelin SCA</name>
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        <name>FHLMC Pool</name>
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        <name>ACS Actividades de Construccion y Servicios SA</name>
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        <name>Walt Disney Co. (The)</name>
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        <name>United States of America</name>
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        <name>AstraZeneca plc</name>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <name>Inficon Holding AG</name>
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        <name>Humana, Inc.</name>
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        <title>Humana, Inc.</title>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Fisher &amp; Paykel Healthcare Corp. Ltd.</name>
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        <name>Vistra Operations Co. LLC</name>
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        <name>Baker Hughes Holdings LLC / Baker Hughes Co-Obligor, Inc.</name>
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        <name>Amgen, Inc.</name>
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        <title>Amgen, Inc.</title>
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        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Pool, 30 Year</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Boeing Co. (The)</name>
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        <name>Societe Generale SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AbbVie, Inc.</name>
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      <invstOrSec>
        <name>Pfizer Investment Enterprises Pte. Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Microsoft Corp.</name>
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        <name>ORIX Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Deere &amp; Co.</name>
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        <name>Beiersdorf AG</name>
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        <name>Molson Coors Beverage Co.</name>
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        <name>United States of America</name>
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        <name>Energy Transfer LP</name>
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        <name>RGA Global Funding</name>
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        <name>United States of America</name>
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        <name>Bank of America Corp.</name>
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        <name>Essex Portfolio LP</name>
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        <name>CF Industries Holdings, Inc.</name>
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        <name>N/A</name>
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        <name>Galp Energia SGPS SA</name>
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        <name>FNMA</name>
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        <name>Tapestry, Inc.</name>
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        <name>TotalEnergies SE</name>
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        <name>Engie SA</name>
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        <name>Lonza Group AG</name>
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        <name>MercadoLibre, Inc.</name>
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        <name>Nestle SA</name>
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        <name>S&amp;P Global, Inc.</name>
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        <name>Charter Communications Operating LLC / Charter Communications Operating Capital</name>
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        <name>Charter Communications Operating LLC / Charter Communications Operating Capital</name>
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        <name>SEI Investments Co.</name>
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        <name>Martin Marietta Materials, Inc.</name>
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        <name>Coca-Cola HBC AG</name>
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        <name>Fox Corp.</name>
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        <name>RTX Corp.</name>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>DuPont de Nemours, Inc.</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>Old Dominion Freight Line, Inc.</name>
        <lei>5299009TWK32WE417T96</lei>
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        <name>Dick's Sporting Goods, Inc.</name>
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        <name>Unum Group</name>
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        <title>Unum Group</title>
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        <name>Ecolab, Inc.</name>
        <lei>82DYEISM090VG8LTLS26</lei>
        <title>Ecolab, Inc.</title>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <name>American Tower Corp.</name>
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        <name>Masco Corp.</name>
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        <name>Intuitive Surgical, Inc.</name>
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        <name>State Street Corp.</name>
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        <name>Eaton Corp. plc</name>
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        <name>AbbVie, Inc.</name>
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        <name>Intuit, Inc.</name>
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        <name>Netflix, Inc.</name>
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        <name>WRKCo, Inc.</name>
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        <name>Arrow Electronics, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>Union Pacific Corp.</name>
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        <title>Union Pacific Corp.</title>
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        <name>EXOR NV</name>
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        <name>WEC Energy Group, Inc.</name>
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        <name>United States of America</name>
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        <name>Marathon Petroleum Corp.</name>
        <lei>3BNYRYQHD39K4LCKQF12</lei>
        <title>Marathon Petroleum Corp.</title>
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        <name>ABN AMRO Bank NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO Bank NV</title>
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        <invCountry>NL</invCountry>
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        <name>Shopify, Inc.</name>
        <lei>549300HGQ43STJLLP808</lei>
        <title>Shopify, Inc., Class A</title>
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        <name>BP Capital Markets America, Inc.</name>
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        <name>Regeneron Pharmaceuticals, Inc.</name>
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        <name>Tradeweb Markets, Inc.</name>
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        <name>Alcon AG</name>
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        <name>Commonwealth Edison Co.</name>
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        <name>Duke Energy Corp.</name>
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        <name>Kaiser Foundation Hospitals</name>
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        <name>HCA, Inc.</name>
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        <name>Zoom Communications, Inc.</name>
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        <name>Southern California Gas Co.</name>
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        <name>FHLMC Pool</name>
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        <name>Barratt Redrow plc</name>
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        <name>CSX Corp.</name>
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        <name>Keyence Corp.</name>
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        <name>FNMA</name>
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        <name>Albemarle Corp.</name>
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        <name>GE Aerospace</name>
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        <name>Institutional Fiduciary Trust - Money Market Portfolio</name>
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        <title>Institutional Fiduciary Trust - Money Market Portfolio</title>
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        <name>N/A</name>
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        <name>Aflac, Inc.</name>
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        <name>Citigroup, Inc.</name>
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        <name>Yum! Brands, Inc.</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <name>Accenture plc</name>
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        <name>Bath &amp; Body Works, Inc.</name>
        <lei>GR3KVMWVCR54YWQNXU90</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA II, Single-family, 30 Year</title>
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        <name>Asahi Group Holdings Ltd.</name>
        <lei>353800KAJ02XNHLCJW79</lei>
        <title>Asahi Group Holdings Ltd.</title>
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        <invCountry>JP</invCountry>
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        <name>Uber Technologies, Inc.</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>Uber Technologies, Inc.</title>
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      <invstOrSec>
        <name>Oracle Corp.</name>
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        <name>Stryker Corp.</name>
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        <name>7-Eleven, Inc.</name>
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        <name>Toronto-Dominion Bank (The)</name>
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        <name>AerCap Ireland Capital DAC / AerCap Global Aviation Trust</name>
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        <invCountry>IE</invCountry>
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        <name>United States of America</name>
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        <issuerCat>UST</issuerCat>
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          <maturityDt>2046-08-15</maturityDt>
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        <name>Rio Tinto Finance USA plc</name>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2032-03-14</maturityDt>
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        <name>Disco Corp.</name>
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        <name>Northrop Grumman Corp.</name>
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        <name>Novartis Capital Corp.</name>
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        <title>Novartis Capital Corp.</title>
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        <name>CVS Health Corp.</name>
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        <title>CVS Health Corp.</title>
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        <name>BioNTech SE</name>
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        <title>BioNTech SE</title>
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        <name>GNMA</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>CapitaLand Ascendas REIT</name>
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        <name>Fastenal Co.</name>
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        <title>Fastenal Co.</title>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <name>T-Mobile USA, Inc.</name>
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        <name>Suzuki Motor Corp.</name>
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        <name>Sempra, Inc.</name>
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        <name>San Bernardino Community College District</name>
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        <name>L'Oreal SA</name>
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        <name>Brown &amp; Brown, Inc.</name>
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        <name>Morgan Stanley</name>
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        <name>NRG Energy, Inc.</name>
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      <invstOrSec>
        <name>Auto Trader Group plc</name>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
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        <name>Continental AG</name>
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        <name>Duke Energy Indiana LLC</name>
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        <name>American Tower Corp.</name>
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        <name>N/A</name>
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        <name>United States of America</name>
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        <name>Boeing Co. (The)</name>
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        <name>Isuzu Motors Ltd.</name>
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        <name>Becton Dickinson &amp; Co.</name>
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        <name>FNMA</name>
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        <name>DTE Energy Co.</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co.</title>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Barclays plc</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays plc</title>
        <cusip>06738ECX1</cusip>
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          <isin value="US06738ECX13"/>
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        <curCd>USD</curCd>
        <valUSD>232900.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp.</title>
        <cusip>539830109</cusip>
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          <isin value="US5398301094"/>
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        <balance>1679.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Novo Nordisk A/S</name>
        <lei>549300DAQ1CVT6CXN342</lei>
        <title>Novo Nordisk A/S</title>
        <cusip>670100205</cusip>
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          <isin value="US6701002056"/>
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        <balance>11835.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>816851.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kinaxis, Inc.</name>
        <lei>5299009VAZ14K7PFUQ15</lei>
        <title>Kinaxis, Inc.</title>
        <cusip>49448Q109</cusip>
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          <isin value="CA49448Q1090"/>
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        <balance>5900.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.36175000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mars, Inc.</name>
        <lei>54930073HKEO6GZBSS03</lei>
        <title>Mars, Inc.</title>
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          <isin value="US571676AB18"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>94889.41000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46625H100</cusip>
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          <isin value="US46625H1005"/>
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        <balance>12291.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3563283.81000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group plc</title>
        <cusip>N/A</cusip>
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          <isin value="GB00BM8PJY71"/>
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        <balance>98282.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EMCOR Group, Inc.</name>
        <lei>529900X0SQJB2J7YDU43</lei>
        <title>EMCOR Group, Inc.</title>
        <cusip>29084Q100</cusip>
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          <isin value="US29084Q1004"/>
          <other otherDesc="Inhouse Asset ID" value="32911"/>
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        <balance>183.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>97884.87000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Texas Instruments, Inc.</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>Texas Instruments, Inc.</title>
        <cusip>882508104</cusip>
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          <isin value="US8825081040"/>
          <other otherDesc="Inhouse Asset ID" value="5041"/>
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        <balance>1955.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>405897.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>United Kingdom Gilt</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BQC82C90"/>
          <other otherDesc="Inhouse Asset ID" value="1388962"/>
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        <balance>850000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.72851783"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VICI Properties LP / VICI Note Co., Inc.</name>
        <lei>N/A</lei>
        <title>VICI Properties LP / VICI Note Co., Inc.</title>
        <cusip>92564RAE5</cusip>
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          <isin value="US92564RAE53"/>
          <other otherDesc="Inhouse Asset ID" value="1040385"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>216055.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Swiss Re AG</name>
        <lei>529900PS9YW3YY29F326</lei>
        <title>Swiss Re AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CH0126881561"/>
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        <balance>2950.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Berkshire Hathaway Energy Co.</name>
        <lei>549300JD0S5IZJE9LY15</lei>
        <title>Berkshire Hathaway Energy Co.</title>
        <cusip>59562VBD8</cusip>
        <identifiers>
          <isin value="US59562VBD82"/>
          <other otherDesc="Inhouse Asset ID" value="1015815"/>
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        <balance>175000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>164539.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ferrari NV</name>
        <lei>549300RIVY5EX8RCON76</lei>
        <title>Ferrari NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0011585146"/>
          <other otherDesc="Inhouse Asset ID" value="622906"/>
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        <balance>108.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.84893246"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Newmont Corp. / Newcrest Finance Pty. Ltd.</name>
        <lei>N/A</lei>
        <title>Newmont Corp. / Newcrest Finance Pty. Ltd.</title>
        <cusip>65163LAR0</cusip>
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          <isin value="US65163LAR06"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>189903.58000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
        <cusip>31418ELX6</cusip>
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          <isin value="US31418ELX66"/>
          <other otherDesc="Inhouse Asset ID" value="1221742"/>
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        <balance>0.02000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.02000000</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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          <maturityDt>2052-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>SSE plc</name>
        <lei>549300KI75VYLLMSK856</lei>
        <title>SSE plc</title>
        <cusip>N/A</cusip>
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          <isin value="GB0007908733"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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      <invstOrSec>
        <name>Salesforce, Inc.</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>Salesforce, Inc.</title>
        <cusip>79466L302</cusip>
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          <other otherDesc="Inhouse Asset ID" value="308705"/>
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        <balance>1395.00000000</balance>
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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>InterContinental Hotels Group plc</name>
        <lei>2138007ZFQYRUSLU3J98</lei>
        <title>InterContinental Hotels Group plc</title>
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          <isin value="GB00BHJYC057"/>
          <other otherDesc="Inhouse Asset ID" value="273769"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rolls-Royce Holdings plc</name>
        <lei>213800EC7997ZBLZJH69</lei>
        <title>Rolls-Royce Holdings plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B63H8491"/>
          <other otherDesc="Inhouse Asset ID" value="494810"/>
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        <balance>9263.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Johnson &amp; Johnson</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mitsubishi Electric Corp.</name>
        <lei>549300TRXM9Y6561AX39</lei>
        <title>Mitsubishi Electric Corp.</title>
        <cusip>N/A</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Microsoft Corp.</name>
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        <title>Microsoft Corp.</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Mitsubishi UFJ Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Workday, Inc.</name>
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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>Xero Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citibank NA</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-30</maturityDt>
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        <name>Singapore Exchange Ltd.</name>
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        <invCountry>SG</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MTU Aero Engines AG</name>
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        <invCountry>DE</invCountry>
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        <name>Makita Corp.</name>
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        <name>Klepierre SA</name>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>UniCredit SpA</name>
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        <invCountry>IT</invCountry>
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        <name>McDonald's Corp.</name>
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        <title>McDonald's Corp.</title>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Haleon plc</name>
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        <name>Arthur J Gallagher &amp; Co.</name>
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        <name>CyberArk Software Ltd.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>IL</invCountry>

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        <name>Synopsys, Inc.</name>
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        <title>Synopsys, Inc.</title>
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        <name>United Mexican States</name>
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        <invCountry>MX</invCountry>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FNMA, 30 Year</title>
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      <invstOrSec>
        <name>Samsung Electronics Co. Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-09-01</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Smurfit WestRock plc</name>
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          <isin value="IE00028FXN24"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Monolithic Power Systems, Inc.</name>
        <lei>529900TB7O85LSZ1XU31</lei>
        <title>Monolithic Power Systems, Inc.</title>
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          <isin value="US6098391054"/>
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        <name>Zoetis, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Salesforce, Inc.</name>
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        <title>Salesforce, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-15</maturityDt>
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        <name>Palo Alto Networks, Inc.</name>
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        <title>Palo Alto Networks, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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          <isin value="DE0005140008"/>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Salesforce, Inc.</name>
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        <title>Salesforce, Inc.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Equinix, Inc.</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>Equinix, Inc.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Canadian Pacific Kansas City Ltd.</name>
        <lei>N/A</lei>
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        <balance>3240.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <name>Henkel AG &amp; Co. KGaA</name>
        <lei>549300VZCL1HTH4O4Y49</lei>
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        <name>eBay, Inc.</name>
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        <name>American Express Co.</name>
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        <name>Cintas Corp.</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <name>N/A</name>
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        <cusip>N/A</cusip>
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        <name>Amgen, Inc.</name>
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        <title>Amgen, Inc.</title>
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        <name>Monster Beverage Corp.</name>
        <lei>52990090AP0E7HCB6F33</lei>
        <title>Monster Beverage Corp.</title>
        <cusip>61174X109</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <balance>1610000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1572454.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Linde plc</name>
        <lei>5299003QR1WT0EF88V51</lei>
        <title>Linde plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IE000S9YS762"/>
          <other otherDesc="Inhouse Asset ID" value="1239901"/>
        </identifiers>
        <balance>2360.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1107264.80000000</valUSD>
        <pctVal>0.199392252807</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Pool, 30 Year</title>
        <cusip>3132DWDX8</cusip>
        <identifiers>
          <isin value="US3132DWDX83"/>
          <other otherDesc="Inhouse Asset ID" value="1427583"/>
        </identifiers>
        <balance>601073.54900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>477040.01000000</valUSD>
        <pctVal>0.085903644975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-01</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>
      <invstOrSec>
        <name>Mars, Inc.</name>
        <lei>54930073HKEO6GZBSS03</lei>
        <title>Mars, Inc.</title>
        <cusip>571676BC8</cusip>
        <identifiers>
          <isin value="US571676BC81"/>
          <other otherDesc="Inhouse Asset ID" value="1450770"/>
        </identifiers>
        <balance>80000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79861.61000000</valUSD>
        <pctVal>0.014381190778</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Best Buy Co., Inc.</name>
        <lei>HL5XPTVRV0O8TUN5LL90</lei>
        <title>Best Buy Co., Inc.</title>
        <cusip>086516101</cusip>
        <identifiers>
          <isin value="US0865161014"/>
          <other otherDesc="Inhouse Asset ID" value="25598"/>
        </identifiers>
        <balance>2768.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>185815.84000000</valUSD>
        <pctVal>0.033461046485</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Pool, 30 Year</title>
        <cusip>3133KN4U4</cusip>
        <identifiers>
          <isin value="US3133KN4U46"/>
          <other otherDesc="Inhouse Asset ID" value="1362799"/>
        </identifiers>
        <balance>446717.03000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>373263.90000000</valUSD>
        <pctVal>0.067216017264</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</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="Used CNY (Onshore Yuan) instead of CNH (Offshore Yuan) for all base currency isocodes." noteItem="C.2.b"/>
      <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"/>
      <explntrNote note="Used CNY (Onshore Yuan) instead of CNH (Offshore Yuan) for all base currency isocodes." noteItem="C.11.e.i"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Franklin Templeton Variable Insurance Products Trust</ncom:nameOfApplicant>
      <ncom:signature>Monica Krogh</ncom:signature>
      <ncom:signerName>Monica Krogh</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
