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      <invstOrSec>
        <name>Government National Mortgage Association</name>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-09-01</maturityDt>
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      <invstOrSec>
        <name>GLP Capital, L.P. / GLP Financing II, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>National Rural Utilities Cooperative Finance Corp.</name>
        <lei>4NYF266XZC35SCTGX023</lei>
        <title>National Rural Utilities Cooperative Finance Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Edison International</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>Edison International</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>Barclays PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <ticker value="USZ3"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FedEx Corp.</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FedEx Corp.</title>
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          <isin value="US31428XCA28"/>
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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>2050-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Booking Holdings Inc.</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
        <title>Booking Holdings Inc.</title>
        <cusip>09857LAR9</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-19</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Hewlett Packard Enterprise Co.</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>Hewlett Packard Enterprise Co.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-10-15</maturityDt>
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      <invstOrSec>
        <name>Hasbro, Inc.</name>
        <lei>549300NUB6D2R1ITYR45</lei>
        <title>Hasbro, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.10000000</annualizedRt>
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        <name>VICI Properties L.P.</name>
        <lei>254900X4QE7SGKQLLN38</lei>
        <title>VICI Properties L.P.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>RenaissanceRe Finance Inc.</name>
        <lei>54930048ETFU7B0OJ457</lei>
        <title>RenaissanceRe Finance 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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        <name>Booz Allen Hamilton Inc.</name>
        <lei>549300D7XCH2480XU542</lei>
        <title>Booz Allen Hamilton Inc.</title>
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        <name>Cooperatieve Rabobank U.A.</name>
        <lei>DG3RU1DBUFHT4ZF9WN62</lei>
        <title>Cooperatieve Rabobank U.A.</title>
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        <balance>300000.00000000</balance>
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        <invCountry>NL</invCountry>
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          <maturityDt>2026-07-21</maturityDt>
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        <name>Gilead Sciences, Inc.</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences, Inc.</title>
        <cusip>375558BX0</cusip>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
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      <invstOrSec>
        <name>Time Warner Cable, LLC</name>
        <lei>549300U5NFR7S6E3GM41</lei>
        <title>Time Warner Cable, LLC</title>
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          <isin value="US88732JBD90"/>
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        <balance>420000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Uniform Mortgage Backed Securities</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage Backed Securities, TBA</title>
        <cusip>01F022493</cusip>
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          <isin value="US01F0224935"/>
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        <balance>950000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association, IO</title>
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          <isin value="US38380HQY17"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-10-16</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
        <cusip>02209SBL6</cusip>
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          <isin value="US02209SBL60"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Freddie Mac Multifamily Structured Pass-Through Ctfs.</name>
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        <title>Freddie Mac Multifamily Structured Pass-Through Ctfs., Series K093, Class X1, IO</title>
        <cusip>3137FMCT7</cusip>
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          <isin value="US3137FMCT77"/>
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        <balance>2462858.11000000</balance>
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        <curCd>USD</curCd>
        <valUSD>104079.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-APCP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.09235800</annualizedRt>
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      <invstOrSec>
        <name>PacifiCorp</name>
        <lei>SGY07Y7FNYBNLM6Z1M11</lei>
        <title>PacifiCorp</title>
        <cusip>695114CL0</cusip>
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          <isin value="US695114CL03"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>198986.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American International Group, Inc.</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group, Inc., Series A-9</title>
        <cusip>026874DM6</cusip>
        <identifiers>
          <isin value="US026874DM66"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18935.01000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
        <cusip>404280CC1</cusip>
        <identifiers>
          <isin value="US404280CC17"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>225201.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-22</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.97300000</annualizedRt>
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      <invstOrSec>
        <name>CNA Financial Corp.</name>
        <lei>549300YX2GSZD7YG1R84</lei>
        <title>CNA Financial Corp.</title>
        <cusip>126117AU4</cusip>
        <identifiers>
          <isin value="US126117AU49"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>280323.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.45000000</annualizedRt>
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      <invstOrSec>
        <name>U.S. Treasury Notes/Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes/Bonds</title>
        <cusip>912810SU3</cusip>
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          <isin value="US912810SU34"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>740484.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</annualizedRt>
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      <invstOrSec>
        <name>Barclays PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>Barclays PLC</title>
        <cusip>06738EBW4</cusip>
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        <balance>470000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>322114.51000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.33000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Enstar Group Ltd.</name>
        <lei>213800AMAL5QFXVUCN04</lei>
        <title>Enstar Group Ltd.</title>
        <cusip>29359UAC3</cusip>
        <identifiers>
          <isin value="US29359UAC36"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>85740.76000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
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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>
        <cusip>161175BS2</cusip>
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          <isin value="US161175BS22"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>38511.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>International Business Machines Corp.</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>International Business Machines Corp.</title>
        <cusip>459200KU4</cusip>
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          <isin value="US459200KU40"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>262508.19000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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      <invstOrSec>
        <name>Capital One Financial Corp.</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>Capital One Financial Corp.</title>
        <cusip>14040HBN4</cusip>
        <identifiers>
          <isin value="US14040HBN44"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>372365.17000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Halliburton Co.</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>Halliburton Co.</title>
        <cusip>406216AY7</cusip>
        <identifiers>
          <isin value="US406216AY74"/>
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        <balance>113000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>131588.78000000</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>2039-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.45000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>Johnson &amp; Johnson</title>
        <cusip>478160BU7</cusip>
        <identifiers>
          <isin value="US478160BU72"/>
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        <balance>300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>264959.20000000</valUSD>
        <pctVal>0.128195061724</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BlackRock, Inc.</name>
        <lei>549300LRIF3NWCU26A80</lei>
        <title>BlackRock, Inc.</title>
        <cusip>09247XAS0</cusip>
        <identifiers>
          <isin value="US09247XAS09"/>
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        <balance>275000.00000000</balance>
        <units>PA</units>
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        <name>BlackRock, Inc.</name>
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        <name>Georgia-Pacific LLC</name>
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        <name>Paramount Global</name>
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        <name>Union Pacific Corp.</name>
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        <name>Visa Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>M&amp;T Bank Corp.</name>
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        <name>ArcelorMittal S.A.</name>
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        <invCountry>LU</invCountry>
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        <name>Hasbro, Inc.</name>
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        <name>Pinnacle West Capital Corp.</name>
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        <name>WaMu Mortgage Pass-Through Ctfs. Trust</name>
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        <name>Alibaba Group Holding Ltd.</name>
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        <name>Cigna Group (The)</name>
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        <name>Sumitomo Mitsui Financial Group, Inc.</name>
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        <name>Paramount Global</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
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        <name>American International Group, Inc.</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group, Inc.</title>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <name>Toll Brothers Finance Corp.</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Spectra Energy Partners, L.P.</name>
        <lei>2HKVXE7U4NF5B6UGSU72</lei>
        <title>Spectra Energy Partners, L.P.</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Dell International LLC / EMC Corp.</name>
        <lei>N/A</lei>
        <title>Dell International LLC / EMC Corp.</title>
        <cusip>24703TAJ5</cusip>
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          <isin value="US24703TAJ51"/>
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        <balance>29000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33345.42000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.10000000</annualizedRt>
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      <invstOrSec>
        <name>Uniform Mortgage Backed Securities</name>
        <lei>N/A</lei>
        <title>Uniform Mortgage Backed Securities, TBA</title>
        <cusip>01F0306A1</cusip>
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          <isin value="US01F0306A11"/>
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        <balance>2992000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2581184.40000000</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>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co. (The)</title>
        <cusip>097023CX1</cusip>
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          <isin value="US097023CX16"/>
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        <balance>480000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>464089.47000000</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>2060-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.93000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Consolidated Edison Co. of New York, Inc.</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>Consolidated Edison Co. of New York, Inc.</title>
        <cusip>209111FQ1</cusip>
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          <isin value="US209111FQ16"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>163239.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46625HJZ4</cusip>
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          <isin value="US46625HJZ47"/>
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        <balance>125000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>120345.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3140JWQJ2</cusip>
        <identifiers>
          <isin value="US3140JWQJ23"/>
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        <balance>331954.17000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>288987.23000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co.</title>
        <cusip>025816BR9</cusip>
        <identifiers>
          <isin value="US025816BR90"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>72836.20000000</valUSD>
        <pctVal>0.035240297958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Goldman Sachs Group, Inc. (The)</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group, Inc. (The)</title>
        <cusip>38145GAH3</cusip>
        <identifiers>
          <isin value="US38145GAH39"/>
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        <balance>301000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>283007.35000000</valUSD>
        <pctVal>0.136927288056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Toronto-Dominion Bank (The)</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank (The)</title>
        <cusip>89114TZG0</cusip>
        <identifiers>
          <isin value="US89114TZG02"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>88683.66000000</valUSD>
        <pctVal>0.042907765677</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JBS USA LUX S.A. / JBS USA Food Co. / JBS USA Finance Inc.</name>
        <lei>N/A</lei>
        <title>JBS USA LUX S.A. / JBS USA Food Co. / JBS USA Finance Inc.</title>
        <cusip>46590XAZ9</cusip>
        <identifiers>
          <isin value="US46590XAZ96"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194538.84000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>XX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
        <cusip>86562MAN0</cusip>
        <identifiers>
          <isin value="US86562MAN02"/>
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        <balance>475000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>444533.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.44600000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-Bund Future</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000C7F2YA4"/>
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        <balance>12.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92220000"/>
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        <pctVal>-0.00518917720</pctVal>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>BOFA SECURITIES, INC.</counterpartyName>
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                <issuerName>Bundesrepublik Deutschland Bundesanleihe</issuerName>
                <issueTitle>Bundesrepublik Deutschland Bundesanleihe</issueTitle>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
        <cusip>110122CP1</cusip>
        <identifiers>
          <isin value="US110122CP17"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>231696.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>JBS USA LUX S.A. / JBS USA Food Co. / JBS USA Finance Inc.</name>
        <lei>N/A</lei>
        <title>JBS USA LUX S.A. / JBS USA Food Co. / JBS USA Finance Inc.</title>
        <cusip>46590XAN6</cusip>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>193220.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Banco Santander S.A.</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander S.A.</title>
        <cusip>05964HAJ4</cusip>
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          <isin value="US05964HAJ41"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>188065.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37900000</annualizedRt>
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        <name>U.S. Treasury Notes/Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes/Bonds</title>
        <cusip>91282CHE4</cusip>
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          <isin value="US91282CHE49"/>
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        <balance>3000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2918027.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Verizon Communications Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>U.S. Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-15</maturityDt>
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      <invstOrSec>
        <name>MetLife, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2100-12-31</maturityDt>
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        <name>Baker Hughes Holdings LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Uniform Mortgage Backed Securities</name>
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      <invstOrSec>
        <name>Conopco, Inc.</name>
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        <name>Truist Bank</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-03</maturityDt>
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        <name>Invesco Liquid Assets Portfolio</name>
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        <title>Invesco Liquid Assets Portfolio</title>
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          <isin value="US8252527291"/>
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        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Stanley Black &amp; Decker, Inc.</name>
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        <title>Stanley Black &amp; Decker, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-15</maturityDt>
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          <annualizedRt>2.30000000</annualizedRt>
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        <name>Consolidated Edison Co. of New York, Inc.</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Brighthouse Financial, Inc.</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>U.S. Treasury Notes</name>
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        <title>U.S. Treasury Notes</title>
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        <name>Edison International</name>
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        <title>Edison International</title>
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          <maturityDt>2028-03-15</maturityDt>
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        <name>Brighthouse Financial, Inc.</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>Brighthouse Financial, Inc.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2047-06-22</maturityDt>
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          <annualizedRt>4.70000000</annualizedRt>
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        <name>Magna International Inc.</name>
        <lei>95RWVLFZX6VGDZNNTN43</lei>
        <title>Magna International Inc.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Nomura Holdings, Inc.</name>
        <lei>549300B3CEAHYG7K8164</lei>
        <title>Nomura Holdings, Inc.</title>
        <cusip>65535HAZ2</cusip>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-22</maturityDt>
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        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp.</title>
        <cusip>89788NAA8</cusip>
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        <balance>450000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-07-28</maturityDt>
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        <name>Novartis Capital Corp.</name>
        <lei>5493002KF87V5RSRQS84</lei>
        <title>Novartis Capital Corp.</title>
        <cusip>66989HAN8</cusip>
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        <balance>450000.00000000</balance>
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      <invstOrSec>
        <name>Diageo Capital PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Invesco Private Prime Fund</name>
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          <other otherDesc="CADIS_ID" value="2487474"/>
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        <fairValLevel>2</fairValLevel>
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        <name>Shell International Finance B.V.</name>
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        <title>Shell International Finance B.V.</title>
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          <isin value="US822582CD22"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-07</maturityDt>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
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        <title>JPMorgan Chase &amp; Co.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-10</maturityDt>
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      <invstOrSec>
        <name>Appalachian Power Co.</name>
        <lei>3SCHO1ABYYIG382BEI70</lei>
        <title>Appalachian Power Co.</title>
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          <isin value="US037735CM71"/>
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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>2038-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Parker-Hannifin Corp.</name>
        <lei>5493002CONDB4N2HKI23</lei>
        <title>Parker-Hannifin Corp.</title>
        <cusip>701094AJ3</cusip>
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          <isin value="US701094AJ33"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
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      <invstOrSec>
        <name>Intel Corp.</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp.</title>
        <cusip>458140BH2</cusip>
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          <isin value="US458140BH27"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>238998.44000000</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>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.45000000</annualizedRt>
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      <invstOrSec>
        <name>AEP Texas Inc.</name>
        <lei>5493001L78U618KXNZ75</lei>
        <title>AEP Texas Inc.</title>
        <cusip>00108WAG5</cusip>
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          <isin value="US00108WAG50"/>
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        <balance>806000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>758238.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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        <name>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co. (The)</title>
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        <valUSD>352064.11000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-05-01</maturityDt>
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          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>Avnet, Inc.</name>
        <lei>XJI53DCPL7QABOWK4Z75</lei>
        <title>Avnet, Inc.</title>
        <cusip>053807AW3</cusip>
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          <isin value="US053807AW30"/>
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        <balance>250000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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        <name>Fannie Mae REMICs</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICs, IO</title>
        <cusip>3136AXQT5</cusip>
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          <isin value="US3136AXQT58"/>
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        <balance>40051.78000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7166.89000000</valUSD>
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        <assetCat>ABS-APCP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-08-25</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>31418DXK3</cusip>
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          <isin value="US31418DXK35"/>
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        <balance>640754.68000000</balance>
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        <valUSD>512749.70000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-03-01</maturityDt>
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          <annualizedRt>2.00000000</annualizedRt>
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        <name>U.S. Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CBT7</cusip>
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          <isin value="US91282CBT71"/>
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        <balance>2900000.00000000</balance>
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        <valUSD>2632429.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2026-03-31</maturityDt>
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        <name>U.S. Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>9128282A7</cusip>
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          <isin value="US9128282A70"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-08-15</maturityDt>
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          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>Omnicom Group Inc / Omnicom Capital Inc.</name>
        <lei>HKUPACFHSSASQK8HLS17</lei>
        <title>Omnicom Group Inc / Omnicom Capital Inc.</title>
        <cusip>681919BA3</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-01</maturityDt>
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          <annualizedRt>3.65000000</annualizedRt>
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      <invstOrSec>
        <name>Canadian Pacific Railway Co.</name>
        <lei>54930036474DURYNB481</lei>
        <title>Canadian Pacific Railway Co.</title>
        <cusip>13645RAX2</cusip>
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          <isin value="US13645RAX26"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>208015.52000000</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>2115-09-15</maturityDt>
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          <annualizedRt>6.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>International Business Machines Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Baidu, Inc.</name>
        <lei>254900AL64IANZYI1E02</lei>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-23</maturityDt>
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      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>British Telecommunications PLC</name>
        <lei>549300OWFMSO9NYV4H90</lei>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-15</maturityDt>
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      <invstOrSec>
        <name>Apple Inc.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple Inc.</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Freddie Mac Multifamily Structured Pass-Through Ctfs.</name>
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        <title>Freddie Mac Multifamily Structured Pass-Through Ctfs., Series KC03, Class X1, IO</title>
        <cusip>3137FKWE2</cusip>
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          <isin value="US3137FKWE23"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.63221000</annualizedRt>
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      <invstOrSec>
        <name>Nomura Holdings, Inc.</name>
        <lei>549300B3CEAHYG7K8164</lei>
        <title>Nomura Holdings, Inc.</title>
        <cusip>65535HAW9</cusip>
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          <isin value="US65535HAW97"/>
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        <valUSD>257198.94000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-14</maturityDt>
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      <invstOrSec>
        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2079-05-01</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>Western Union Co. (The)</name>
        <lei>28ID94QU1140NC23S047</lei>
        <title>Western Union Co. (The)</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-11-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.20000000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 10 Year Notes Future</title>
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          <ticker value="TYZ3"/>
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        <balance>-45.00000000</balance>
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        <curCd>USD</curCd>
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        <name>Conagra Brands, Inc.</name>
        <lei>54930035UDEIH090K650</lei>
        <title>Conagra Brands, Inc.</title>
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          <isin value="US205887AR36"/>
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        <fairValLevel>2</fairValLevel>
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        <name>MetLife, Inc.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife, Inc.</title>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3140JY2W5</cusip>
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        <issuerCat>USGSE</issuerCat>
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          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>Fannie Mae REMICs</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICs, IO</title>
        <cusip>3136APZR6</cusip>
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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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        <name>McKesson Corp.</name>
        <lei>549300WZWOM80UCFSF54</lei>
        <title>McKesson Corp.</title>
        <cusip>581557BR5</cusip>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-08-15</maturityDt>
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        <name>Nomura Holdings, Inc.</name>
        <lei>549300B3CEAHYG7K8164</lei>
        <title>Nomura Holdings, Inc.</title>
        <cusip>65535HBB4</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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          <maturityDt>2029-01-22</maturityDt>
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          <annualizedRt>2.71000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc.</title>
        <cusip>172967EW7</cusip>
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        <balance>200000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.12500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <title>Goldman Sachs Group, Inc. (The)</title>
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        <name>B.A.T Capital Corp.</name>
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        <name>Credit Suisse AG</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Cintas Corp. No. 2</name>
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        <name>U.S. Treasury Notes/Bonds</name>
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        <name>Intel Corp.</name>
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        <title>Intel Corp.</title>
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        <name>B.A.T Capital Corp.</name>
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        <title>B.A.T Capital Corp.</title>
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        <name>Citigroup Commercial Mortgage Trust</name>
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        <name>CHRISTUS Health</name>
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        <name>Intel Corp.</name>
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        <name>California Institute of Technology</name>
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        <name>Stanley Black &amp; Decker, Inc.</name>
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        <name>Natwest Group PLC</name>
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        <name>Keybank N.A.</name>
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        <name>Viatris Inc.</name>
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        <name>Caterpillar Financial Services Corp.</name>
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      <invstOrSec>
        <name>Freddie Mac Multifamily Structured Pass-Through Ctfs.</name>
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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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          <isin value="US594918BJ27"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-03</maturityDt>
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        <name>U.S. Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912810TC27"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-15</maturityDt>
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        <name>N/A</name>
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        <name>Paramount Global</name>
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        <name>BP Capital Markets PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup Inc.</name>
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          <maturityDt>2026-10-21</maturityDt>
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        <name>Mohawk Industries, Inc.</name>
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          <maturityDt>2030-05-15</maturityDt>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <name>Apple Inc.</name>
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        <name>Bank</name>
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        <name>N/A</name>
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          <ticker value="WNZ3"/>
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        <name>Alibaba Group Holding Ltd.</name>
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        <name>3M Co.</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
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        <name>U.S. Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Philip Morris International Inc.</name>
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      <invstOrSec>
        <name>N/A</name>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Westpac Banking Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Meta Platforms, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HCA Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA Inc.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2025-04-15</maturityDt>
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      <invstOrSec>
        <name>Black Hills Corp.</name>
        <lei>3MGELCRSTNSAMJ962671</lei>
        <title>Black Hills Corp.</title>
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        <name>Time Warner Cable Enterprises LLC</name>
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        <name>Allstate Corp. (The)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Southwest Airlines Co.</name>
        <lei>UDTZ87G0STFETI6HGH41</lei>
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        <name>Uniform Mortgage Backed Securities</name>
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        <name>Barclays PLC</name>
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        <invCountry>GB</invCountry>
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        <name>Lockheed Martin Corp.</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>Lockheed Martin Corp.</title>
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      <invstOrSec>
        <name>HCA Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA Inc.</title>
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        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <name>U.S. Treasury Notes/Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
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      <invstOrSec>
        <name>Emerson Electric Co.</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Uniform Mortgage Backed Securities</name>
        <lei>N/A</lei>
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        <name>Freddie Mac STRIPS</name>
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        <name>Simon Property Group, L.P.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>National Australia Bank Ltd.</name>
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        <name>Keybank N.A.</name>
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        <name>Discovery Communications, LLC</name>
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        <name>Regal Rexnord Corp.</name>
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        <name>Oglethorpe Power Corp. (An Electric Membership Corp.)</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
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        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
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        <name>Autodesk, Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>Celanese US Holdings LLC</name>
        <lei>CD30XVRLT4QO00B1C706</lei>
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        <name>TJX Cos., Inc. (The)</name>
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        <name>ONEOK, Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK, Inc.</title>
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      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
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      <invstOrSec>
        <name>Amgen Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sabra Health Care L.P.</name>
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        <name>Westpac Banking Corp.</name>
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        <name>Reynolds American Inc.</name>
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        <name>Banc of America Mortgage Trust</name>
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        <name>Wells Fargo Bank, N.A.</name>
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        <name>Stanley Black &amp; Decker, Inc.</name>
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        <name>Simon Property Group, L.P.</name>
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        <name>B.A.T Capital Corp.</name>
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        <name>Microsoft Corp.</name>
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        <name>Toyota Motor Credit Corp.</name>
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        <name>Koninklijke KPN N.V.</name>
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        <name>Baidu, Inc.</name>
        <lei>254900AL64IANZYI1E02</lei>
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        <invCountry>KY</invCountry>

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        <name>Reynolds American Inc.</name>
        <lei>02S2RPPVO9RP4NEU2740</lei>
        <title>Reynolds American Inc.</title>
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      <invstOrSec>
        <name>Warnermedia Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Adventist Health System</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-03-01</maturityDt>
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        <name>U.S. Treasury Notes</name>
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      <invstOrSec>
        <name>Dell International LLC / EMC Corp.</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Motorola Solutions, Inc.</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>Motorola Solutions, Inc.</title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corp.</title>
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          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Vornado Realty, L.P.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
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        <name>HCA Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA Inc.</title>
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        <name>Synchrony Financial</name>
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        <title>Synchrony Financial</title>
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          <annualizedRt>3.95000000</annualizedRt>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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        <name>Fannie Mae REMICs</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae REMICs, IO</title>
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        <name>ONEOK, Inc.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK, Inc.</title>
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        <name>TWDC Enterprises 18 Corp.</name>
        <lei>7260JQNI6SCF9FIV2392</lei>
        <title>TWDC Enterprises 18 Corp.</title>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Australia 10 Year Bonds Future</title>
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      <invstOrSec>
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      <invstOrSec>
        <name>Philip Morris International Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Philip Morris International Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-15</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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        <name>Energy Transfer L.P.</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.30000000</annualizedRt>
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        <name>HSBC Holdings PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-12</maturityDt>
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        <name>Federal National Mortgage Association</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-09-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>National Australia Bank Ltd.</name>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-14</maturityDt>
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          <annualizedRt>3.37500000</annualizedRt>
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        <name>Alibaba Group Holding Ltd.</name>
        <lei>5493001NTNQJDH60PM02</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-06</maturityDt>
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          <annualizedRt>3.40000000</annualizedRt>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Truist Bank</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-15</maturityDt>
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          <annualizedRt>3.30000000</annualizedRt>
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        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <valUSD>298341.17000000</valUSD>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-14</maturityDt>
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          <annualizedRt>6.11900000</annualizedRt>
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        <name>nVent Finance S.a.r.l.</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>LU</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>Intel Corp.</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
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        <name>Toronto-Dominion Bank (The)</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-15</maturityDt>
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        <name>Suzano Austria GmbH</name>
        <lei>254900287ZNSGVP1R341</lei>
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        <invCountry>AT</invCountry>

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        <name>N/A</name>
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        <name>Natwest Group PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
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      <invstOrSec>
        <name>Realty Income Corp.</name>
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        <name>Johnson &amp; Johnson</name>
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        <name>Principal Financial Group, Inc.</name>
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        <name>Alibaba Group Holding Ltd.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Juniper Networks, Inc.</name>
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        <name>Black Hills Corp.</name>
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        <name>Mid-America Apartments, L.P.</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>Union Electric Co.</name>
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        <name>Philip Morris International Inc.</name>
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        <name>Fortune Brands Innovations, Inc.</name>
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        <name>HSBC Holdings PLC</name>
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        <name>Eversource Energy</name>
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        <name>Allstate Corp. (The)</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Nucor Corp.</name>
        <lei>549300GGJCRSI2TIEJ46</lei>
        <title>Nucor Corp.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Plains All American Pipeline L.P./ PAA Finance Corp.</name>
        <lei>N/A</lei>
        <title>Plains All American Pipeline L.P./ PAA Finance Corp.</title>
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          <isin value="US72650RAR30"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101584.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.65000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Progress Energy, Inc.</name>
        <lei>549300FBMTW0JYWMNB26</lei>
        <title>Progress Energy, Inc.</title>
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          <isin value="US743263AE50"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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      <invstOrSec>
        <name>Kinder Morgan Energy Partners, L.P.</name>
        <lei>549300PDHUGWPWGOT525</lei>
        <title>Kinder Morgan Energy Partners, L.P.</title>
        <cusip>494550AW6</cusip>
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          <isin value="US494550AW68"/>
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        <balance>131000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>140380.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.95000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3140X7S59</cusip>
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          <isin value="US3140X7S590"/>
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        <balance>454546.90000000</balance>
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        <curCd>USD</curCd>
        <valUSD>382424.46000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>U.S. Treasury Notes/Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes/Bonds</title>
        <cusip>91282CFZ9</cusip>
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          <isin value="US91282CFZ95"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6872578.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>Banco Santander S.A.</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander S.A.</title>
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          <isin value="US05964HAB15"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>378670.84000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kyndryl Holdings, Inc.</name>
        <lei>549300LQ4LWX2R8ZV130</lei>
        <title>Kyndryl Holdings, Inc.</title>
        <cusip>50155QAK6</cusip>
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          <isin value="US50155QAK67"/>
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        <balance>575000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>481113.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PayPal Holdings, Inc.</name>
        <lei>5493005X2GO78EFZ3E94</lei>
        <title>PayPal Holdings, Inc.</title>
        <cusip>70450YAD5</cusip>
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          <isin value="US70450YAD58"/>
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        <balance>275000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>256172.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Conoco Funding Co.</name>
        <lei>XX71EBFZWSRCIL200314</lei>
        <title>Conoco Funding Co.</title>
        <cusip>20825UAC8</cusip>
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          <isin value="US20825UAC80"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>227153.65000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>United Airlines Pass-Through Trust</name>
        <lei>N/A</lei>
        <title>United Airlines Pass-Through Trust, Series 20-1</title>
        <cusip>90931GAA7</cusip>
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          <isin value="US90931GAA76"/>
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        <curCd>USD</curCd>
        <valUSD>341160.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc.</title>
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        <valUSD>394466.76000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2062-04-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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        <name>Fifth Third Bancorp</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>Fifth Third Bancorp</title>
        <cusip>316773CY4</cusip>
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          <isin value="US316773CY45"/>
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        <balance>235000.00000000</balance>
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        <valUSD>223780.27000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-28</maturityDt>
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      <invstOrSec>
        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Co.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Virginia Electric and Power Co.</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>Virginia Electric and Power Co.</title>
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        <balance>316000.00000000</balance>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Tsmc Arizona Corp.</name>
        <lei>2549005GOBWLCSY63Q97</lei>
        <title>Tsmc Arizona Corp.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-05-14</maturityDt>
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      <invstOrSec>
        <name>Ascension Health</name>
        <lei>N/A</lei>
        <title>Ascension Health, Series B</title>
        <cusip>04352EAA3</cusip>
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          <isin value="US04352EAA38"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>194707.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.53200000</annualizedRt>
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        <name>Blackstone Holdings Finance Co. L.L.C.</name>
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      <invstOrSec>
        <name>Reliance Standard Life Global Funding II</name>
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      <invstOrSec>
        <name>UnitedHealth Group Inc.</name>
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          <maturityDt>2028-02-15</maturityDt>
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        <name>Australia and New Zealand Banking Group Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-16</maturityDt>
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        <name>Southern California Edison Co.</name>
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        <name>Philip Morris International Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-03-20</maturityDt>
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          <annualizedRt>4.50000000</annualizedRt>
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        <name>Bank of Montreal</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Baidu, Inc.</name>
        <lei>254900AL64IANZYI1E02</lei>
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        <invCountry>KY</invCountry>

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          <maturityDt>2028-03-29</maturityDt>
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        <name>Lincoln National Corp.</name>
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        <name>iShares MBS ETF</name>
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        <name>National Rural Utilities Cooperative Finance Corp.</name>
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        <name>Banco Santander S.A.</name>
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        <name>U.S. Treasury Notes</name>
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        <name>Energy Transfer L.P.</name>
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        <name>ORIX Corp.</name>
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        <name>Freddie Mac Multifamily Structured Pass-Through Ctfs.</name>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citigroup Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>203184.91000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Lloyds Banking Group PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group PLC</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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      <invstOrSec>
        <name>Columbia Pipeline Group, Inc.</name>
        <lei>549300SRP1TQM9JJBG80</lei>
        <title>Columbia Pipeline Group, Inc.</title>
        <cusip>198280AH2</cusip>
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          <isin value="US198280AH20"/>
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        <balance>368000.00000000</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>2045-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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      <invstOrSec>
        <name>Celanese US Holdings LLC</name>
        <lei>CD30XVRLT4QO00B1C706</lei>
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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>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>3M Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-09-19</maturityDt>
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        <name>Shell International Finance B.V.</name>
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        <title>Shell International Finance B.V.</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Boston Properties L.P.</name>
        <lei>BVHHEFJI6SHNOKQT2572</lei>
        <title>Boston Properties L.P.</title>
        <cusip>10112RBB9</cusip>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>342655.66000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>Southwest Gas Corp.</name>
        <lei>OQQR1IQTGBKH0UR88X59</lei>
        <title>Southwest Gas Corp.</title>
        <cusip>845011AE5</cusip>
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          <isin value="US845011AE58"/>
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        <curCd>USD</curCd>
        <valUSD>426042.75000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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          <isin value="US06051GKC23"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>U.S. Treasury Notes/Bonds</name>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Invesco Government &amp; Agency Portfolio</name>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Federal Home Loan Mortgage Corp.</title>
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        <valUSD>930841.47000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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          <annualizedRt>3.00000000</annualizedRt>
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        <name>Southwestern Electric Power Co.</name>
        <lei>R64UBJHEC74EB3HGQ410</lei>
        <title>Southwestern Electric Power Co., Series N</title>
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          <isin value="US845437BS08"/>
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      <invstOrSec>
        <name>EQT Corp.</name>
        <lei>4NT01YGM4X7ZX86ISY52</lei>
        <title>EQT Corp.</title>
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          <isin value="US26884LAG41"/>
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        <balance>350000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2030-02-01</maturityDt>
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          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Mylan Inc.</name>
        <lei>30ZMPDNA1RHIBH89C294</lei>
        <title>Mylan Inc.</title>
        <cusip>628530BK2</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>Toyota Motor Credit Corp.</name>
        <lei>Z2VZBHUMB7PWWJ63I008</lei>
        <title>Toyota Motor Credit Corp.</title>
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        <curCd>USD</curCd>
        <valUSD>146114.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-17</maturityDt>
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          <annualizedRt>4.55000000</annualizedRt>
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      <invstOrSec>
        <name>ING Groep N.V.</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING Groep N.V.</title>
        <cusip>456837AQ6</cusip>
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          <isin value="US456837AQ60"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>232570.21000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>PPG Industries, Inc.</name>
        <lei>549300BKPEP01R3V6C59</lei>
        <title>PPG Industries, Inc.</title>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>U.S. Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CDW LLC / CDW Finance Corp.</name>
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        <title>CDW LLC / CDW Finance Corp.</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-01</maturityDt>
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          <annualizedRt>3.27600000</annualizedRt>
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        <name>AXA</name>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>181178.85000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-12-15</maturityDt>
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          <annualizedRt>8.60000000</annualizedRt>
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        <name>Banco Santander S.A.</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander S.A.</title>
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          <isin value="US05964HAM79"/>
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        <curCd>USD</curCd>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-25</maturityDt>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-19</maturityDt>
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      <invstOrSec>
        <name>Mitsubishi UFJ Financial Group, Inc.</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>Mitsubishi UFJ Financial Group, Inc.</title>
        <cusip>606822AV6</cusip>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.96100000</annualizedRt>
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      <invstOrSec>
        <name>John Deere Capital Corp.</name>
        <lei>E0KSF7PFQ210NWI8Z391</lei>
        <title>John Deere Capital Corp.</title>
        <cusip>24422ETC3</cusip>
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          <isin value="US24422ETC39"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>Tapestry, Inc.</name>
        <lei>549300LJNVY5SW3VTN33</lei>
        <title>Tapestry, Inc.</title>
        <cusip>876030AA5</cusip>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>184761.33000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-15</maturityDt>
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          <annualizedRt>3.05000000</annualizedRt>
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        <name>Energy Transfer L.P.</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer L.P.</title>
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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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          <annualizedRt>5.40000000</annualizedRt>
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        <name>U.S. Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CFG1</cusip>
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          <isin value="US91282CFG15"/>
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          <maturityDt>2024-08-31</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>3140X4RK4</cusip>
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        <balance>98794.12000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>U.S. Treasury Notes/Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes/Bonds</title>
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          <maturityDt>2025-04-30</maturityDt>
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          <annualizedRt>3.87500000</annualizedRt>
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        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
        <cusip>02209SBD4</cusip>
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        <balance>353000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2029-02-14</maturityDt>
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          <annualizedRt>4.80000000</annualizedRt>
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        <name>Healthpeak OP, LLC</name>
        <lei>PZ9HF5U52KPF0MH0QN75</lei>
        <title>Healthpeak OP, LLC</title>
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      <invstOrSec>
        <name>PVH Corp.</name>
        <lei>123WALMHY1GZXG2YDL90</lei>
        <title>PVH Corp.</title>
        <cusip>693656AC4</cusip>
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        <balance>200000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-10</maturityDt>
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        <name>AerCap Ireland Capital DAC / AerCap Global Aviation Trust</name>
        <lei>N/A</lei>
        <title>AerCap Ireland Capital DAC / AerCap Global Aviation Trust</title>
        <cusip>00774MAX3</cusip>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>121955.21000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>UBS Group AG</name>
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      <invstOrSec>
        <name>Westpac Banking Corp.</name>
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        <name>HCA Inc.</name>
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        <name>Keybank N.A.</name>
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        <name>EQT Corp.</name>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>Morgan Stanley</name>
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        <name>Ross Stores, Inc.</name>
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        <name>Arizona Public Service Co.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>General Motors Co.</name>
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        <name>Deutsche Bank AG</name>
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        <name>DuPont de Nemours, Inc.</name>
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        <name>Toyota Motor Credit Corp.</name>
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        <name>Uniform Mortgage Backed Securities</name>
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        <name>Amazon.com, Inc.</name>
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      <invstOrSec>
        <name>Philip Morris International Inc.</name>
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        <name>Shell International Finance B.V.</name>
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        <name>Fannie Mae REMICs</name>
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        <name>Cooperatieve Rabobank U.A.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>U.S. Treasury Bonds</name>
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        <name>Mitsubishi UFJ Financial Group, Inc.</name>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-11</maturityDt>
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        <name>Uniform Mortgage Backed Securities</name>
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          <maturityDt>2053-09-01</maturityDt>
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      <invstOrSec>
        <name>Nokia OYJ</name>
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        <invCountry>FI</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-12</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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        <name>TCI Communications, Inc.</name>
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          <maturityDt>2028-02-15</maturityDt>
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          <annualizedRt>7.12500000</annualizedRt>
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        <name>Vodafone Group PLC</name>
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        <invCountry>GB</invCountry>
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          <maturityDt>2049-06-19</maturityDt>
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        <name>Time Warner Cable, LLC</name>
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        <name>Diageo Capital PLC</name>
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        <title>Diageo Capital PLC</title>
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        <invCountry>GB</invCountry>
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        <name>Ally Financial Inc.</name>
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        <name>Charter Communications Operating LLC/Charter Communications Operating Capital Corp.</name>
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        <name>General Motors Co.</name>
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        <title>General Motors Co.</title>
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        <name>Norfolk Southern Corp.</name>
        <lei>54930036C8MWP850MI84</lei>
        <title>Norfolk Southern Corp.</title>
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        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>Government National Mortgage Association, TBA</title>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Uniform Mortgage Backed Securities</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Principal Financial Group, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EPR Properties</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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          <ticker value="FVZ3"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Apple Inc.</name>
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        <title>Apple Inc.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>UnitedHealth Group Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ross Stores, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-15</maturityDt>
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        <name>Simon Property Group, L.P.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ConocoPhillips Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>General Motors Co.</name>
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        <title>General Motors Co.</title>
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        <name>Prudential Financial, Inc.</name>
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      <invstOrSec>
        <name>Aon Corp.</name>
        <lei>LTS3U8DGK38SETRUWX71</lei>
        <title>Aon Corp.</title>
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      <invstOrSec>
        <name>General Motors Co.</name>
        <lei>54930070NSV60J38I987</lei>
        <title>General Motors Co.</title>
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        <name>Air Lease Corp.</name>
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        <name>Jefferies Financial Group Inc.</name>
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        <name>Western Midstream Operating, L.P.</name>
        <lei>L6D8A6MLSY454J2JXJ60</lei>
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        <name>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
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          <maturityDt>2037-08-15</maturityDt>
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      <invstOrSec>
        <name>Realty Income Corp.</name>
        <lei>549300CUWDAUZSH43859</lei>
        <title>Realty Income Corp.</title>
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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>2027-08-15</maturityDt>
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      <invstOrSec>
        <name>PacifiCorp</name>
        <lei>SGY07Y7FNYBNLM6Z1M11</lei>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>271386.80000000</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>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>V.F. Corp.</name>
        <lei>CWAJJ9DJ5Z7P057HV541</lei>
        <title>V.F. Corp.</title>
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          <isin value="US918204BC10"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>207687.35000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group, Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group, Inc.</title>
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          <isin value="US86562MBZ23"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>356292.36000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.14200000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Juniper Networks, Inc.</name>
        <lei>AUHIXNGG7U2U7JEHM527</lei>
        <title>Juniper Networks, Inc.</title>
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          <isin value="US48203RAN44"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>226548.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-12-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.20000000</annualizedRt>
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      <invstOrSec>
        <name>Amgen Inc.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen Inc.</title>
        <cusip>031162CJ7</cusip>
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          <isin value="US031162CJ71"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>465002.34000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Brookfield Finance Inc.</name>
        <lei>549300XH8D8K6OYWGD17</lei>
        <title>Brookfield Finance Inc.</title>
        <cusip>11271LAC6</cusip>
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          <isin value="US11271LAC63"/>
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        <balance>440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>411541.73000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Freddie Mac REMICs</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac REMICs, IO</title>
        <cusip>3137B93W3</cusip>
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          <isin value="US3137B93W33"/>
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        <balance>121918.59000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10859.44000000</valUSD>
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        <assetCat>ABS-APCP</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-01-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.79701000</annualizedRt>
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      <invstOrSec>
        <name>Ralph Lauren Corp.</name>
        <lei>HO1QNWM0IXBZ0QSMMO20</lei>
        <title>Ralph Lauren Corp.</title>
        <cusip>731572AB9</cusip>
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          <isin value="US731572AB96"/>
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        <balance>550000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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      <invstOrSec>
        <name>Dell International LLC / EMC Corp.</name>
        <lei>N/A</lei>
        <title>Dell International LLC / EMC Corp.</title>
        <cusip>24703DBE0</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
        <name>Concentrix Corp.</name>
        <lei>5493000EAJN1KMPVA737</lei>
        <title>Concentrix Corp.</title>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>800506.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-02</maturityDt>
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          <annualizedRt>6.65000000</annualizedRt>
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      <invstOrSec>
        <name>Broadcom Inc.</name>
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        <title>Broadcom Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-05-15</maturityDt>
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        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-11-23</maturityDt>
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          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>American Tower Corp.</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>American Tower Corp.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-03-15</maturityDt>
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          <annualizedRt>3.95000000</annualizedRt>
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        <name>CommonSpirit Health</name>
        <lei>4SXHN5XW08IBO0UG2V58</lei>
        <title>CommonSpirit Health</title>
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        <invCountry>US</invCountry>
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        <name>Dignity Health</name>
        <lei>TFVG45LTYVO3XKPZWP18</lei>
        <title>Dignity Health</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2064-11-01</maturityDt>
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      <invstOrSec>
        <name>ArcelorMittal S.A.</name>
        <lei>2EULGUTUI56JI9SAL165</lei>
        <title>ArcelorMittal S.A.</title>
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        <valUSD>27855.12000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Booking Holdings Inc.</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
        <title>Booking Holdings Inc.</title>
        <cusip>741503BC9</cusip>
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        <balance>399000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>377054.64000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>B.A.T. International Finance PLC</name>
        <lei>21380041YBGOQDFAC823</lei>
        <title>B.A.T. International Finance PLC</title>
        <cusip>05530QAP5</cusip>
        <identifiers>
          <isin value="US05530QAP54"/>
        </identifiers>
        <balance>265000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>251427.68000000</valUSD>
        <pctVal>0.121648113961</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.44800000</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>Exxon Mobil Corp.</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp.</title>
        <cusip>30231GBK7</cusip>
        <identifiers>
          <isin value="US30231GBK76"/>
        </identifiers>
        <balance>450000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>416440.55000000</valUSD>
        <pctVal>0.201486198674</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.48200000</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>MidAmerican Energy Co.</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>MidAmerican Energy Co.</title>
        <cusip>595620AT2</cusip>
        <identifiers>
          <isin value="US595620AT22"/>
        </identifiers>
        <balance>180000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>167892.13000000</valUSD>
        <pctVal>0.081231155469</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2023-09-30</ncom:dateSigned>
      <ncom:nameOfApplicant>AIM Investment Securities Funds (Invesco Investment Securities Funds)</ncom:nameOfApplicant>
      <ncom:signature>Adrien Deberghes</ncom:signature>
      <ncom:signerName>Adrien Deberghes</ncom:signerName>
      <ncom:title>Principal Financial Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
