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      <invstOrSec>
        <name>Cofiroute SA</name>
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        <name>Tyco Electronics Group SA</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Wells Fargo &amp; Co.</name>
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        <name>United States Small Business Administration</name>
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        <name>Nutrien Ltd.</name>
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        <name>Marsh &amp; McLennan Cos., Inc.</name>
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        <name>COPT Defense Properties LP</name>
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        <name>Adani Electricity Mumbai Ltd.</name>
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        <name>GNMA</name>
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        <name>Eaton Corp. plc</name>
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        <name>Synchrony Financial</name>
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        <name>Accenture Capital, Inc.</name>
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        <name>FHLMC</name>
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        <name>Lam Research Corp.</name>
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        <name>United States of America</name>
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        <name>Republic of Italy</name>
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        <name>N/A</name>
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        <name>CNH Industrial Capital LLC</name>
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        <name>Euronext NV</name>
        <lei>724500QJ4QSZ3H9QU415</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Pacific Gas and Electric Co.</name>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Exxon Mobil Corp.</name>
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        <name>Intesa Sanpaolo SpA</name>
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        <name>BANK</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>FNMA</name>
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        <name>Business Jet Securities LLC</name>
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        <name>E.ON International Finance BV</name>
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        <name>N/A</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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      <invstOrSec>
        <name>Danske Bank A/S</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vodafone Group plc</name>
        <lei>213800TB53ELEUKM7Q61</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Xcel Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-25</maturityDt>
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      <invstOrSec>
        <name>Chubb Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>WSP Global, Inc.</name>
        <lei>549300IQ87LU6X6ERQ78</lei>
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        <name>Regal Rexnord Corp.</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
        <title>Regal Rexnord Corp.</title>
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        <name>Aeroporti di Roma SpA</name>
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        <invCountry>IT</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-15</maturityDt>
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      <invstOrSec>
        <name>NVIDIA Corp.</name>
        <lei>549300S4KLFTLO7GSQ80</lei>
        <title>NVIDIA Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <isin value="XS2927570858"/>
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        <balance>774000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2035-10-24</maturityDt>
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        <name>Pacific Gas and Electric Co.</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>Pacific Gas and Electric Co.</title>
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        <name>Paychex, Inc.</name>
        <lei>529900K900DW6SUBM174</lei>
        <title>Paychex, Inc.</title>
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        <name>PG&amp;E Corp.</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
        <title>PG&amp;E Corp.</title>
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        <name>Videotron Ltd.</name>
        <lei>549300LW4GNJRBECSD81</lei>
        <title>Videotron Ltd.</title>
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        <invCountry>CA</invCountry>
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        <name>Edison International</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>Edison International</title>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
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        <name>Astra International Tbk. PT</name>
        <lei>529900L49TRJOMG4DK47</lei>
        <title>Astra International Tbk. PT</title>
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        <invCountry>ID</invCountry>
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        <name>Volvo Financial Equipment LLC</name>
        <lei>N/A</lei>
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        <name>Bank Gospodarstwa Krajowego</name>
        <lei>259400BCOV9JJIGLYF05</lei>
        <title>Bank Gospodarstwa Krajowego</title>
        <cusip>06237MAB9</cusip>
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        <balance>539000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>Enterprise Fleet Financing LLC</name>
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      <invstOrSec>
        <name>GNMA</name>
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      <invstOrSec>
        <name>Santos Finance Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Berkshire Hathaway Energy Co.</name>
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        <title>Berkshire Hathaway Energy Co.</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-05-01</maturityDt>
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        <name>Vale SA</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Engie SA</name>
        <lei>LAXUQCHT4FH58LRZDY46</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140MHQV4</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-04-01</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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        <name>Fiserv Funding ULC</name>
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          <isin value="XS3060660050"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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        <curCd>N/A</curCd>
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        <name>Investor AB</name>
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        <name>FHLMC</name>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <name>Bermuda</name>
        <lei>549300FP5PUZXX9FVJ40</lei>
        <title>Bermuda Government Bond</title>
        <cusip>085209AG9</cusip>
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        <invCountry>BM</invCountry>
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        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group, Inc.</title>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179YHS6</cusip>
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          <isin value="US36179YHS63"/>
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        <name>Florida Power &amp; Light Co.</name>
        <lei>A89MY1K3YLIGJMYWVX50</lei>
        <title>Florida Power &amp; Light Co.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <name>Republic of Korea</name>
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        <name>MFS Institutional Money Market Portfolio</name>
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        <name>Japan</name>
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        <name>FHLMC Pool</name>
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        <name>Northern Star Resources Ltd.</name>
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      <invstOrSec>
        <name>Element Fleet Management Corp.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PG&amp;E Corp.</name>
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        <title>PG&amp;E Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <title>PG&amp;E Corp.</title>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
        <cusip>3132DWDC4</cusip>
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          <isin value="US3132DWDC47"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NatWest Markets plc</name>
        <lei>RR3QWICWWIPCS8A4S074</lei>
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          <isin value="XS2975316899"/>
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        <fairValLevel>2</fairValLevel>
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          <other otherDesc="Inhouse Asset ID" value="867164"/>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>Goldman Sachs International</counterpartyName>
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        <name>Informa plc</name>
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        <name>PetroChina Co. Ltd.</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Goldman Sachs International</counterpartyName>
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      <invstOrSec>
        <name>Lseg US Fin Corp.</name>
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        <name>BSPRT Issuer Ltd.</name>
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      <invstOrSec>
        <name>Truist Financial Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
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        <name>Angel Oak Mortgage Trust</name>
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        <name>Republic of Korea</name>
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        <title>Republic of Korea</title>
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        <name>Inner Mongolia Yili Industrial Group Co. Ltd.</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Multifamily Structured Pass-Through Certificates, Series K109, Class XAM</title>
        <cusip>3137FTG43</cusip>
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        <curCd>USD</curCd>
        <valUSD>245243.29000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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        <name>Targa Resources Corp.</name>
        <lei>5493003QENHHS261UR94</lei>
        <title>Targa Resources Corp.</title>
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        <name>Xcel Energy, Inc.</name>
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        <name>RTE Reseau de Transport d'Electricite SADIR</name>
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        <name>Intel Corp.</name>
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        <name>GNMA</name>
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        <name>FNMA</name>
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        <name>Amadeus IT Group SA</name>
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        <name>Warnermedia Holdings, Inc.</name>
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      <invstOrSec>
        <name>Phillips 66</name>
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        <name>WP Carey, Inc.</name>
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        <name>FNMA</name>
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        <name>UBS Group AG</name>
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        <name>Danone SA</name>
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        <name>Sanofi SA</name>
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        <name>N/A</name>
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        <name>FHLMC</name>
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        <name>Petronas Capital Ltd.</name>
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        <name>EQT Trust</name>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <name>CH Robinson Worldwide, Inc.</name>
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        <name>Holcim Finance US LLC</name>
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        <name>Arthur J Gallagher &amp; Co.</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>Arthur J Gallagher &amp; Co.</title>
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        <name>Danske Bank A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
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        <invCountry>DK</invCountry>
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        <name>N/A</name>
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        <name>Broadcom, Inc.</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom, Inc.</title>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Barclays plc</name>
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        <name>British American Tobacco plc</name>
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        <name>Expand Energy Corp.</name>
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        <name>LXP Industrial Trust</name>
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        <name>Kirin Holdings Co. Ltd.</name>
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        <name>Boeing Co. (The)</name>
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        <name>FNMA</name>
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        <name>Arbor Realty Commercial Real Estate Notes Ltd.</name>
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        <name>Tesco Corporate Treasury Services plc</name>
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        <name>Edison International</name>
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        <name>Johnson &amp; Johnson</name>
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        <name>Element Fleet Management Corp.</name>
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        <name>Akzo Nobel NV</name>
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        <name>DSV Finance BV</name>
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        <name>AGCO Corp.</name>
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        <name>Republic of India</name>
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        <name>Pfizer, Inc.</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>Pfizer, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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          <isin value="FR0000131104"/>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="867745"/>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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              <counterpartyName>State Street Bank and Trust</counterpartyName>
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      <invstOrSec>
        <name>GreatAmerica Leasing Receivables Funding LLC</name>
        <lei>N/A</lei>
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        <cusip>39154TCB2</cusip>
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          <isin value="US39154TCB26"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Federal Republic of Germany</name>
        <lei>529900AQBND3S6YJLY83</lei>
        <title>Bundesrepublik Deutschland</title>
        <cusip>N/A</cusip>
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          <isin value="DE000BU2D004"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-15</maturityDt>
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      <invstOrSec>
        <name>Connecticut State Higher Education Supplement Loan Authority</name>
        <lei>N/A</lei>
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        <cusip>207743WY7</cusip>
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          <isin value="US207743WY72"/>
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        <balance>560000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>533336.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Empire District Bondco LLC</name>
        <lei>N/A</lei>
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          <isin value="US291918AA87"/>
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        <curCd>USD</curCd>
        <valUSD>710689.41000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.94300000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Perusahaan Perseroan Persero PT Perusahaan Listrik Negara</name>
        <lei>254900OYVDRYS9J51J61</lei>
        <title>Perusahaan Perseroan Persero PT Perusahaan Listrik Negara</title>
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          <isin value="US71568PAP45"/>
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        <balance>691000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>478765.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-30</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wurth Finance International BV</name>
        <lei>5JB3IE65ZU13TA0DGN10</lei>
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          <isin value="XS2911681083"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>P3 Group Sarl</name>
        <lei>529900GR62MT0O5VW110</lei>
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          <isin value="XS2901491261"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co. Ltd.</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>Taiwan Semiconductor Manufacturing Co. Ltd.</title>
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          <isin value="TW0002330008"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>Societe Generale SA</title>
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          <isin value="FR001400WL86"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Euro-Bobl</title>
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          <isin value="DE000F1B2NH5"/>
          <other otherDesc="Future Ticker" value="OEM5 Comdty"/>
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        <fairValLevel>1</fairValLevel>
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                  <ticker value="OEM5 Comdty"/>
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        <name>Hellenic Republic</name>
        <lei>2138003EKTMKZ5598902</lei>
        <title>Hellenic Republic</title>
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          <isin value="GR0124040743"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TRTX Issuer Ltd.</name>
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        <invCountry>KY</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>APA Infrastructure Ltd.</name>
        <lei>261700SS8OEHDOCOUJ33</lei>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>United Mexican States</name>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>OBX Trust</name>
        <lei>254900OHTVKDKZL33I54</lei>
        <title>OBX Trust, Series 2024-NQM2, Class A1</title>
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        <curCd>USD</curCd>
        <valUSD>1049035.29000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-12-25</maturityDt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137FUZZ0</cusip>
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          <isin value="US3137FUZZ07"/>
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        <curCd>USD</curCd>
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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>2030-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.76924880</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Cie de Saint-Gobain SA</name>
        <lei>NFONVGN05Z0FMN5PEC35</lei>
        <title>Cie de Saint-Gobain SA</title>
        <cusip>N/A</cusip>
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          <isin value="FR0000125007"/>
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        <balance>49663.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Manufacturers &amp; Traders Trust Co.</name>
        <lei>WWB2V0FCW3A0EE3ZJN75</lei>
        <title>Manufacturers &amp; Traders Trust Co.</title>
        <cusip>55279HAW0</cusip>
        <identifiers>
          <isin value="US55279HAW07"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>402036.46000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Iowa Student Loan Liquidity Corp.</name>
        <lei>549300FO1LWVSZKGJK70</lei>
        <title>Iowa Student Loan Liquidity Corp.</title>
        <cusip>462590NG1</cusip>
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          <isin value="US462590NG13"/>
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        <balance>405000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>385224.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.08000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
        <cusip>3133KMZB4</cusip>
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          <isin value="US3133KMZB44"/>
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        <balance>94990.57000000</balance>
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        <curCd>USD</curCd>
        <valUSD>79958.05000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="870450"/>
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        <curCd>N/A</curCd>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>NatWest Group plc</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NatWest Group plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2871577115"/>
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        <balance>240000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
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        <pctVal>0.022809138448</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-05</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000A4DE9Y3"/>
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        <balance>400000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2986317506"/>
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        <balance>560000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.58800000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Multifamily Structured Pass-Through Certificates, Series K136, Class XAM</title>
        <cusip>3137H4SM3</cusip>
        <identifiers>
          <isin value="US3137H4SM31"/>
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        <balance>3294996.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>102422.64000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.66448080</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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          <other otherDesc="Inhouse Asset ID" value="867735"/>
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        <curCd>N/A</curCd>
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        <name>Becton Dickinson &amp; Co.</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
        <title>Becton Dickinson &amp; Co.</title>
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          <isin value="US0758871091"/>
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        <units>NS</units>
        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31418ECZ1</cusip>
        <identifiers>
          <isin value="US31418ECZ16"/>
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        <balance>197026.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138A2AX7</cusip>
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          <isin value="US3138A2AX74"/>
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        <balance>224832.90000000</balance>
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        <curCd>USD</curCd>
        <valUSD>214278.27000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3138EPUM4</cusip>
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          <isin value="US3138EPUM46"/>
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        <balance>186173.32000000</balance>
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        <curCd>USD</curCd>
        <valUSD>184394.99000000</valUSD>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Pioneer Natural Resources Co.</name>
        <lei>FY8JBF7CCL2VE4F1B628</lei>
        <title>Pioneer Natural Resources Co.</title>
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        <balance>549000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DB Insurance Co. Ltd.</name>
        <lei>9884000ZF26VNJBWSJ91</lei>
        <title>DB Insurance Co. Ltd.</title>
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        <balance>16691.00000000</balance>
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        <invCountry>KR</invCountry>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31410KGB4</cusip>
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        <balance>8194.35000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8441.39000000</valUSD>
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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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          <other otherDesc="Inhouse Asset ID" value="867181"/>
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        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3140MLPX24"/>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>NXP BV</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LKQ Corp.</name>
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          <isin value="US5018892084"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Colorado Housing and Finance Authority</name>
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          <isin value="US196480D611"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-01</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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        <name>FNMA</name>
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          <isin value="US31418D4X74"/>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <name>Advanced Info Service PCL</name>
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        <name>FNMA</name>
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        <name>Elevance Health, Inc.</name>
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        <name>Wolters Kluwer NV</name>
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        <name>FNMA</name>
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        <name>GNMA</name>
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        <name>Oriental Republic of Uruguay</name>
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        <name>Societe Generale SA</name>
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        <name>Eni SpA</name>
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        <name>DSM BV</name>
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        <name>Angel Oak Mortgage Trust</name>
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        <name>Angel Oak Mortgage Trust</name>
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        <name>Aramark</name>
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        <name>Johnson Controls International plc</name>
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        <name>Terna - Rete Elettrica Nazionale</name>
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        <name>AREIT Trust</name>
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        <name>GNMA</name>
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        <name>Linde plc</name>
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        <name>FNMA</name>
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        <name>Hartford Insurance Group, Inc. (The)</name>
        <lei>IU7C3FTM7Y3BQM112U94</lei>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enel Finance International NV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BXMT Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Glencore plc</name>
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        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>FNMA</name>
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          <isin value="US3140XGQ696"/>
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        <name>New Hampshire Business Finance Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>Westinghouse Air Brake Technologies Corp.</name>
        <lei>06BTX5UWZD0GQ5N5Y745</lei>
        <title>Westinghouse Air Brake Technologies Corp.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Koninklijke KPN NV</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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        <name>Bayer AG</name>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Home Depot, Inc. (The)</name>
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        <name>Infraestructura Energetica Nova SAPI de CV</name>
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        <invCountry>MX</invCountry>
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        <name>General Mills, Inc.</name>
        <lei>2TGYMUGI08PO8X8L6150</lei>
        <title>General Mills, Inc.</title>
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        <name>Pembina Pipeline Corp.</name>
        <lei>5493002W3L9YICM6FU21</lei>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <name>NBN Co. Ltd.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31418QPN7</cusip>
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        <name>BBCMS Trust</name>
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        <name>Infosys Ltd.</name>
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        <name>Schneider Electric SE</name>
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        <name>Baidu, Inc.</name>
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        <name>Popular, Inc.</name>
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        <name>Vier Gas Transport GmbH</name>
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        <name>Coventry Building Society</name>
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        <name>Commonwealth of Australia</name>
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        <name>Electricite de France SA</name>
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        <name>United States of America</name>
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        <name>Corebridge Financial, Inc.</name>
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        <name>Stora Enso OYJ</name>
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      <invstOrSec>
        <name>N/A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>mBank SA</name>
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          <isin value="XS2907137736"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Telefonaktiebolaget LM Ericsson</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>SSE plc</name>
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        <name>Highland Holdings Sarl</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Marriott International, Inc.</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
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        <name>N/A</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>Hitachi Ltd.</name>
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        <name>UniCredit SpA</name>
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        <name>AIB Group plc</name>
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        <name>Travelers Cos., Inc. (The)</name>
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        <name>N/A</name>
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        <name>TotalEnergies Capital International SA</name>
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        <name>N/A</name>
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        <name>Regal Rexnord Corp.</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
        <title>Regal Rexnord Corp.</title>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kraft Heinz Foods Co.</name>
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        <title>Kraft Heinz Foods Co.</title>
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          <isin value="US50077LAB27"/>
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        <curCd>USD</curCd>
        <valUSD>506325.44000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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        <title>UMBS</title>
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          <isin value="US3140MKG890"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WMG Acquisition Corp.</name>
        <lei>549300NAS11NXI33CP80</lei>
        <title>WMG Acquisition Corp.</title>
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          <isin value="US92933BAT17"/>
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        <balance>302000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Mondi Finance plc</name>
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        <title>Mondi Finance plc</title>
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          <isin value="XS3025943419"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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      <invstOrSec>
        <name>Hess Corp.</name>
        <lei>UASVRYNXNK17ULIGK870</lei>
        <title>Hess Corp.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC</title>
        <cusip>161175BT0</cusip>
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        <balance>340000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>253257.29000000</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>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Altria Group, Inc.</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>Altria Group, Inc.</title>
        <cusip>02209S103</cusip>
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          <isin value="US02209S1033"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>3650R Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>3650R Commercial Mortgage Trust, Series 2021-PF1, Class XA</title>
        <cusip>88581EAF8</cusip>
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          <isin value="US88581EAF88"/>
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        <balance>7107615.76280000</balance>
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        <curCd>USD</curCd>
        <valUSD>285349.45000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>Burlington Northern Santa Fe LLC</name>
        <lei>N/A</lei>
        <title>Burlington Northern Santa Fe LLC</title>
        <cusip>12189LBL4</cusip>
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          <isin value="US12189LBL45"/>
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        <balance>590000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>579387.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Morgan Stanley Capital I Trust</name>
        <lei>N/A</lei>
        <title>Morgan Stanley Capital I Trust, Series 2021-L6, Class XA</title>
        <cusip>61692CBK3</cusip>
        <identifiers>
          <isin value="US61692CBK36"/>
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        <balance>9309345.09380000</balance>
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        <curCd>USD</curCd>
        <valUSD>420256.42000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.28822400</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Multifamily Structured Pass-Through Certificates, Series K538, Class X1</title>
        <cusip>3137HKSB1</cusip>
        <identifiers>
          <isin value="US3137HKSB12"/>
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        <balance>2295620.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>57617.54000000</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>2030-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.57074040</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FNMA or FHLMC</name>
        <lei>N/A</lei>
        <title>UMBS, 30 Year, Single Family</title>
        <cusip>01F062663</cusip>
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          <isin value="US01F0626634"/>
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        <balance>1700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1749080.90000000</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>2055-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hammerson plc</name>
        <lei>213800G1C9KKVVDN1A60</lei>
        <title>Hammerson plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2912234197"/>
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        <balance>197000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75035641"/>
        <valUSD>251459.49000000</valUSD>
        <pctVal>0.020719809317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>Deutsche Bank AG</title>
        <cusip>25160PAQ0</cusip>
        <identifiers>
          <isin value="US25160PAQ00"/>
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        <balance>634000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>642498.39000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.37300000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Intel Corp.</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp.</title>
        <cusip>458140CJ7</cusip>
        <identifiers>
          <isin value="US458140CJ73"/>
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        <balance>384000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>342033.21000000</valUSD>
        <pctVal>0.028182920801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</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>Aristocrat Leisure Ltd.</name>
        <lei>529900TE2HO3OZKYKC27</lei>
        <title>Aristocrat Leisure Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000ALL7"/>
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        <name>EnBW International Finance BV</name>
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      <invstOrSec>
        <name>Wolters Kluwer NV</name>
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      <invstOrSec>
        <name>General Dynamics Corp.</name>
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        <name>Transurban Finance Co. Pty. Ltd.</name>
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        <name>STWD Ltd.</name>
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        <name>PNC Financial Services Group, Inc. (The)</name>
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        <name>GEA Group AG</name>
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        <name>Province of British Columbia Canada</name>
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        <name>Verus Securitization Trust</name>
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        <name>N/A</name>
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        <name>Sammons Financial Group, Inc.</name>
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        <name>Graphic Packaging International LLC</name>
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        <name>Tesco plc</name>
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        <name>Iberdrola SA</name>
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        <name>Cie Financiere Richemont SA</name>
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        <name>People's Republic of China</name>
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        <title>People's Republic of China</title>
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        <name>BANK</name>
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        <name>Kyocera Corp.</name>
        <lei>N/A</lei>
        <title>Kyocera Corp.</title>
        <cusip>N/A</cusip>
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        <invCountry>JP</invCountry>
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      <invstOrSec>
        <name>Eversource Energy</name>
        <lei>SJ7XXD41SQU3ZNWUJ746</lei>
        <title>Eversource Energy</title>
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        <name>QatarEnergy</name>
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        <name>JPMORGAN US GOVERNMENT MONEY MKT FD</name>
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        <name>Enterprise Fleet Financing LLC</name>
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        <name>Commonwealth Bank of Australia</name>
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        <name>FHLMC Pool</name>
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        <name>Booz Allen Hamilton, Inc.</name>
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        <name>N/A</name>
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        <name>Cousins Properties, Inc.</name>
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        <name>Fairfax Financial Holdings Ltd.</name>
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        <name>Constellation Brands, Inc.</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FNMA</name>
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        <name>ELM Trust</name>
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      <invstOrSec>
        <name>Japan</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP1201511EC7"/>
        </identifiers>
        <balance>452000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="JPY" exchangeRt="142.98000000"/>
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        <pctVal>0.258394807305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <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>
      <invstOrSec>
        <name>TCW CLO Ltd.</name>
        <lei>N/A</lei>
        <title>TCW CLO Ltd., Series 2020-1A, Class BR3</title>
        <cusip>87190CBL3</cusip>
        <identifiers>
          <isin value="US87190CBL37"/>
        </identifiers>
        <balance>1275000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1256156.78000000</valUSD>
        <pctVal>0.103505057432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.86946880</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31418ECQ1</cusip>
        <identifiers>
          <isin value="US31418ECQ17"/>
        </identifiers>
        <balance>744918.85000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>621032.00000000</valUSD>
        <pctVal>0.051171918864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
        <cusip>3132DWDJ9</cusip>
        <identifiers>
          <isin value="US3132DWDJ99"/>
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        <balance>456723.30000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>380403.24000000</valUSD>
        <pctVal>0.031344542202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MF1 Ltd.</name>
        <lei>N/A</lei>
        <title>MF1 Ltd., Series 2022-FL8, Class A</title>
        <cusip>55284JAA7</cusip>
        <identifiers>
          <isin value="US55284JAA79"/>
        </identifiers>
        <balance>405301.92000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>403381.60000000</valUSD>
        <pctVal>0.033237917702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.66858880</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mars, Inc.</name>
        <lei>54930073HKEO6GZBSS03</lei>
        <title>Mars, Inc.</title>
        <cusip>571676AY1</cusip>
        <identifiers>
          <isin value="US571676AY11"/>
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        <balance>232000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>234832.01000000</valUSD>
        <pctVal>0.019349734897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Legrand SA</name>
        <lei>969500XXRPGD7HCAFA90</lei>
        <title>Legrand SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0010307819"/>
        </identifiers>
        <balance>27276.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
        <valUSD>3003092.21000000</valUSD>
        <pctVal>0.247449392162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sodexo SA</name>
        <lei>969500LCBOG12HXPYM84</lei>
        <title>Sodexo SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000121220"/>
        </identifiers>
        <balance>41626.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
        <valUSD>2636021.19000000</valUSD>
        <pctVal>0.217203400888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fastighets AB Balder</name>
        <lei>549300GHKJCEZOAEUU82</lei>
        <title>Fastighets AB Balder</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3003232272"/>
        </identifiers>
        <balance>290000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
        <valUSD>323791.12000000</valUSD>
        <pctVal>0.026679805423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MetLife, Inc.</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife, Inc.</title>
        <cusip>59156RCN6</cusip>
        <identifiers>
          <isin value="US59156RCN61"/>
        </identifiers>
        <balance>589000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>598349.13000000</valUSD>
        <pctVal>0.049302891208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31418ECY4</cusip>
        <identifiers>
          <isin value="US31418ECY41"/>
        </identifiers>
        <balance>561029.36000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>478961.18000000</valUSD>
        <pctVal>0.039465539042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</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>
      <invstOrSec>
        <name>Japan</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Bond</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP1051771R39"/>
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        <balance>531000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="JPY" exchangeRt="142.98000000"/>
        <valUSD>3752801.09000000</valUSD>
        <pctVal>0.309224054304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.10000000</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>AIB Group plc</name>
        <lei>635400AKJBGNS5WNQL34</lei>
        <title>AIB Group plc</title>
        <cusip>00135TAE4</cusip>
        <identifiers>
          <isin value="US00135TAE47"/>
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        <balance>438000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>446720.28000000</valUSD>
        <pctVal>0.036808946919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-28</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.87100000</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>MF1 Ltd.</name>
        <lei>N/A</lei>
        <title>MF1 Ltd., Series 2022-FL8, Class B</title>
        <cusip>55284JAE9</cusip>
        <identifiers>
          <isin value="US55284JAE91"/>
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        <balance>604312.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>589873.60000000</valUSD>
        <pctVal>0.048604522793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-19</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.26859000</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>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
        <cusip>3132DWN66</cusip>
        <identifiers>
          <isin value="US3132DWN665"/>
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        <balance>471897.81000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>451405.52000000</valUSD>
        <pctVal>0.037195002261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>
      <invstOrSec>
        <name>Wells Fargo Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Wells Fargo Commercial Mortgage Trust, Series 2021-C60, Class XA</title>
        <cusip>95003DBP2</cusip>
        <identifiers>
          <isin value="US95003DBP24"/>
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        <balance>6742873.46610000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>455241.73000000</valUSD>
        <pctVal>0.037511099059</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.61865720</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>Interpublic Group of Cos., Inc. (The)</name>
        <lei>5493008IUOJ5VWTRC333</lei>
        <title>Interpublic Group of Cos., Inc. (The)</title>
        <cusip>460690100</cusip>
        <identifiers>
          <isin value="US4606901001"/>
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        <balance>26840.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>674220.80000000</valUSD>
        <pctVal>0.055554580238</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Holcim Finance US LLC</name>
        <lei>529900FB2F1WKLFNGY62</lei>
        <title>Holcim Finance US LLC</title>
        <cusip>43475RAD8</cusip>
        <identifiers>
          <isin value="US43475RAD89"/>
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        <balance>153000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>152923.30000000</valUSD>
        <pctVal>0.012600604638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</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>Bruce Power LP</name>
        <lei>549300R8DACS3G0K8262</lei>
        <title>Bruce Power LP</title>
        <cusip>116705AQ7</cusip>
        <identifiers>
          <isin value="CA116705AQ79"/>
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        <balance>862000.00000000</balance>
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      <invstOrSec>
        <name>Orange SA</name>
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        <name>Thermo Fisher Scientific Finance I BV</name>
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        <name>N/A</name>
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        <name>NY Society for Relief of Ruptured &amp; Crippled Maintaining Hospital Special Surgery</name>
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        <name>FHLMC Pool</name>
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        <name>Securitas AB</name>
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        <name>Linde plc</name>
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        <name>TELUS Corp.</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>International Flavors &amp; Fragrances, Inc.</name>
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        <name>Columbia Pipelines Operating Co. LLC</name>
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        <name>Nationwide Building Society</name>
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        <name>FNMA</name>
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      <invstOrSec>
        <name>MF1 Multifamily Housing Mortgage Loan Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STWD Ltd.</name>
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          <isin value="US78486BAC81"/>
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        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IG Group Holdings plc</name>
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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>FNMA</name>
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          <isin value="US31418D7E66"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.00000000</annualizedRt>
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      <invstOrSec>
        <name>Home Depot, Inc. (The)</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>Home Depot, Inc. (The)</title>
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          <isin value="US437076BD31"/>
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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>2044-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>Kao Corp.</name>
        <lei>353800HM38HFCB8RGL63</lei>
        <title>Kao Corp.</title>
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          <isin value="JP3205800000"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Toyota Tsusho Corp.</name>
        <lei>549300CEE2ENIUJNXB84</lei>
        <title>Toyota Tsusho Corp.</title>
        <cusip>N/A</cusip>
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          <isin value="JP3635000007"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Medtronic plc</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>Medtronic plc</title>
        <cusip>N/A</cusip>
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          <isin value="IE00BTN1Y115"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Raizen Fuels Finance SA</name>
        <lei>52990010NH26VC32Q522</lei>
        <title>Raizen Fuels Finance SA</title>
        <cusip>75102XAB2</cusip>
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          <isin value="US75102XAB29"/>
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        <balance>606000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>602231.95000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-05</maturityDt>
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      <invstOrSec>
        <name>Charles Schwab Corp. (The)</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>Charles Schwab Corp. (The)</title>
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          <isin value="US808513CH62"/>
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        <balance>794000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-08-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.13600000</annualizedRt>
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      <invstOrSec>
        <name>Brown &amp; Brown, Inc.</name>
        <lei>549300PC8KTJ71XKFY89</lei>
        <title>Brown &amp; Brown, Inc.</title>
        <cusip>115236AG6</cusip>
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          <isin value="US115236AG61"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>151691.42000000</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>2034-06-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65000000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140F5DA8</cusip>
        <identifiers>
          <isin value="US3140F5DA88"/>
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        <balance>65274.44000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60219.35000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>ECTRVYYCEF89VWYS6K36</lei>
        <title>U.K. Treasury</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BDCHBW80"/>
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        <balance>2076000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-07-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="870455"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
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              <counterpartyName>JP Morgan Chase Bank</counterpartyName>
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        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canada Government Bond</title>
        <cusip>135087M27</cusip>
        <identifiers>
          <isin value="CA135087M276"/>
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        <balance>4348000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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        <name>Republic of Italy</name>
        <lei>815600DE60799F5A9309</lei>
        <title>Buoni Poliennali del Tesoro</title>
        <cusip>N/A</cusip>
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          <isin value="IT0005402117"/>
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        <balance>1948000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>VF Corp.</name>
        <lei>CWAJJ9DJ5Z7P057HV541</lei>
        <title>VF Corp.</title>
        <cusip>918204108</cusip>
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          <isin value="US9182041080"/>
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        <balance>116799.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="867972"/>
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        <balance>1.00000000</balance>
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        <curCd>N/A</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>State Street Bank and Trust</counterpartyName>
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            <amtCurSold>26857247.11000000</amtCurSold>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury Ultra Bond</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Future Ticker" value="WNM5 Comdty"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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      <invstOrSec>
        <name>Aon plc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Willis Towers Watson plc</name>
        <lei>549300WHC56FF48KL350</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Quebecor, Inc.</name>
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          <isin value="CA7481932084"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kubota Corp.</name>
        <lei>549300CSY4INHEHQQT13</lei>
        <title>Kubota Corp.</title>
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          <isin value="JP3266400005"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>COPT Defense Properties LP</name>
        <lei>H0TWO5VRNEP6CQAWPX27</lei>
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          <isin value="US22003BAL09"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DBS Group Holdings Ltd.</name>
        <lei>5493007FKT78NKPM5V55</lei>
        <title>DBS Group Holdings Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="SG1L01001701"/>
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        <assetCat>EC</assetCat>
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        <invCountry>SG</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HCA, Inc.</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA, Inc.</title>
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          <isin value="US404121AK12"/>
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        <balance>191000.00000000</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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      <invstOrSec>
        <name>Reckitt Benckiser Group plc</name>
        <lei>5493003JFSMOJG48V108</lei>
        <title>Reckitt Benckiser Group plc</title>
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          <isin value="GB00B24CGK77"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ambev SA</name>
        <lei>549300TH5Q6VRP8OT012</lei>
        <title>Ambev SA</title>
        <cusip>N/A</cusip>
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          <isin value="BRABEVACNOR1"/>
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        <assetCat>EC</assetCat>
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        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
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          <isin value="US36179XLD65"/>
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        <curCd>USD</curCd>
        <valUSD>418893.59000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Walt Disney Co. (The)</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>Walt Disney Co. (The)</title>
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        <balance>658000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Enel Finance International NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>Enel Finance International NV</title>
        <cusip>N/A</cusip>
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        <balance>440000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-02-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>95000U3P6</cusip>
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          <isin value="US95000U3P60"/>
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        <balance>373000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-24</maturityDt>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp., Class A</title>
        <cusip>20030N101</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
        <cusip>3133KMY58</cusip>
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          <isin value="US3133KMY583"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Plains All American Pipeline LP</name>
        <lei>N/A</lei>
        <title>Plains All American Pipeline LP</title>
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        <balance>424000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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      <invstOrSec>
        <name>Xcel Energy, Inc.</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>Xcel Energy, Inc.</title>
        <cusip>98389B100</cusip>
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        <balance>7654.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>541137.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ferguson Enterprises, Inc.</name>
        <lei>2138003JYQMRP3SLX189</lei>
        <title>Ferguson Enterprises, Inc.</title>
        <cusip>31488VAA5</cusip>
        <identifiers>
          <isin value="US31488VAA52"/>
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        <balance>533000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>515805.97000000</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>MediaTek, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>APA Infrastructure Ltd.</name>
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        <name>Bank of America Corp.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bermuda</name>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Federal Republic of Germany</name>
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          <isin value="DE000BU25042"/>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
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        <name>AIB Group plc</name>
        <lei>635400AKJBGNS5WNQL34</lei>
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          <isin value="XS3027988933"/>
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        <balance>1020000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137H2NA8</cusip>
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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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      <invstOrSec>
        <name>Shimamura Co. Ltd.</name>
        <lei>N/A</lei>
        <title>Shimamura Co. Ltd.</title>
        <cusip>N/A</cusip>
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          <isin value="JP3358200008"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Occidental Petroleum Corp.</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
        <title>Occidental Petroleum Corp.</title>
        <cusip>674599DF9</cusip>
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        <balance>484000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>471502.54000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <name>Jersey Central Power &amp; Light Co.</name>
        <lei>549300W9UGH9ZPLNPF79</lei>
        <title>Jersey Central Power &amp; Light Co.</title>
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        <balance>548000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-03-01</maturityDt>
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        <name>Intesa Sanpaolo SpA</name>
        <lei>2W8N8UU78PMDQKZENC08</lei>
        <title>Intesa Sanpaolo SpA</title>
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        <balance>300000.00000000</balance>
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        <invCountry>IT</invCountry>
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        <name>BPCE SA</name>
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        <invCountry>FR</invCountry>
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        <name>News Corp.</name>
        <lei>549300ITS31QK8VRBQ14</lei>
        <title>News Corp.</title>
        <cusip>65249BAA7</cusip>
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          <isin value="US65249BAA70"/>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-05-15</maturityDt>
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          <annualizedRt>3.87500000</annualizedRt>
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        <name>Danske Bank A/S</name>
        <lei>MAES062Z21O4RZ2U7M96</lei>
        <title>Danske Bank A/S</title>
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        <balance>568000.00000000</balance>
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        <invCountry>DK</invCountry>
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        <name>Low Income Investment Fund</name>
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        <title>Low Income Investment Fund, Series 2019</title>
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        <balance>760000.00000000</balance>
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        <invCountry>US</invCountry>
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          <maturityDt>2029-07-01</maturityDt>
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        <name>BP Capital Markets BV</name>
        <lei>7245003VD7E4T30HJD24</lei>
        <title>BP Capital Markets BV</title>
        <cusip>N/A</cusip>
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          <isin value="XS2270147924"/>
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        <balance>440000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Diageo plc</name>
        <lei>213800ZVIELEA55JMJ32</lei>
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        <cusip>N/A</cusip>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Euronet Worldwide, Inc.</name>
        <lei>YG3575C4DSHJPA5KET68</lei>
        <title>Euronet Worldwide, Inc.</title>
        <cusip>N/A</cusip>
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          <isin value="XS2001315766"/>
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        <balance>825000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FHLMC</name>
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          <isin value="US3137FVNL22"/>
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        <balance>3056884.00000000</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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      <invstOrSec>
        <name>NEC Corp.</name>
        <lei>5493000QYMPFRTEY4K28</lei>
        <title>NEC Corp.</title>
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          <isin value="JP3733000008"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BX Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BX Commercial Mortgage Trust, Series 2024-PURE, Class A</title>
        <cusip>74625PAB0</cusip>
        <identifiers>
          <isin value="CA74625PAB00"/>
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        <balance>1001000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-11-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ferrari NV</name>
        <lei>549300RIVY5EX8RCON76</lei>
        <title>Ferrari NV</title>
        <cusip>N/A</cusip>
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          <isin value="XS2824763044"/>
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        <balance>1110000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-05-21</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>Kingdom of Spain</name>
        <lei>9598007A56S18711AH60</lei>
        <title>Bonos and Obligaciones del Estado</title>
        <cusip>N/A</cusip>
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          <isin value="ES0000012O67"/>
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        <invCountry>ES</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-04-30</maturityDt>
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          <annualizedRt>3.15000000</annualizedRt>
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      <invstOrSec>
        <name>Bruce Power LP</name>
        <lei>549300R8DACS3G0K8262</lei>
        <title>Bruce Power LP, Series 21-1</title>
        <cusip>116705AK0</cusip>
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          <isin value="CA116705AK00"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-21</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Anheuser-Busch InBev Worldwide, Inc.</name>
        <lei>549300CRGMZK3K53BF92</lei>
        <title>Anheuser-Busch InBev Worldwide, Inc.</title>
        <cusip>03523TBV9</cusip>
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          <isin value="US03523TBV98"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-01-23</maturityDt>
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          <annualizedRt>5.55000000</annualizedRt>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179WR34</cusip>
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          <isin value="US36179WR347"/>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-20</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>949746101</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PPL Electric Utilities Corp.</name>
        <lei>549300GCZLSGYEYPIR35</lei>
        <title>PPL Electric Utilities Corp.</title>
        <cusip>69351UBB8</cusip>
        <identifiers>
          <isin value="US69351UBB89"/>
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        <balance>771000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>727932.15000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Bain Capital Credit CLO Ltd.</name>
        <lei>N/A</lei>
        <title>Bain Capital Credit CLO Ltd., Series 2021-7A, Class BR</title>
        <cusip>05682NAQ6</cusip>
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          <isin value="US05682NAQ60"/>
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        <balance>1365087.00000000</balance>
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        <assetCat>ABS-CBDO</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-22</maturityDt>
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      <invstOrSec>
        <name>COLT Mortgage Loan Trust</name>
        <lei>2138001HZNOLT1K3WY73</lei>
        <title>COLT Mortgage Loan Trust, Series 2024-1, Class A1</title>
        <cusip>19688TAA3</cusip>
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          <isin value="US19688TAA34"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

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      <invstOrSec>
        <name>CaixaBank SA</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
        <title>CaixaBank SA</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-27</maturityDt>
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      <invstOrSec>
        <name>Bacardi Ltd.</name>
        <lei>549300R32WTQNHNN5055</lei>
        <title>Bacardi Ltd.</title>
        <cusip>067316AG4</cusip>
        <identifiers>
          <isin value="US067316AG42"/>
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        <balance>658000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>BM</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.15000000</annualizedRt>
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      <invstOrSec>
        <name>Entergy Corp.</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>Entergy Corp.</title>
        <cusip>29364GAM5</cusip>
        <identifiers>
          <isin value="US29364GAM50"/>
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        <balance>816000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>804403.06000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.90000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pernod Ricard SA</name>
        <lei>52990097YFPX9J0H5D87</lei>
        <title>Pernod Ricard SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR001400XRB3"/>
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        <balance>1000000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>N/A</name>
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          <other otherDesc="Inhouse Sedol" value="TYM5COM"/>
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        <fairValLevel>1</fairValLevel>
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              <counterpartyName>CME Clearing House</counterpartyName>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Mitsubishi UFJ Financial Group, Inc.</name>
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        <name>Japan</name>
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        <name>N/A</name>
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        <name>FHLMC</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Pacific Gas and Electric Co.</name>
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        <name>Southern California Edison Co.</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
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        <name>N/A</name>
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        <name>HCA, Inc.</name>
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        <name>PepsiCo, Inc.</name>
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        <name>Ontario Teachers' Cadillac Fairview Properties Trust</name>
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        <name>Alamtri Resources Indonesia Tbk. PT</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31415MM51</cusip>
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        <name>Japan</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>Japan Government Bond</title>
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        <invCountry>JP</invCountry>
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          <maturityDt>2040-03-20</maturityDt>
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          <annualizedRt>2.30000000</annualizedRt>
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        <name>Deutsche Telekom AG</name>
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      <invstOrSec>
        <name>APA Infrastructure Ltd.</name>
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      <invstOrSec>
        <name>Enel Americas SA</name>
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        <name>Massachusetts Educational Financing Authority</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>Boston Gas Co.</name>
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        <name>Memorial Sloan-Kettering Cancer Center</name>
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        <name>PPG Industries, Inc.</name>
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        <name>Powszechna Kasa Oszczednosci Bank Polski SA</name>
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        <name>Axalta Coating Systems Ltd.</name>
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        <name>Commonwealth of Australia</name>
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        <name>Koninklijke KPN NV</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>FNMA</name>
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        <name>Federal Republic of Germany</name>
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        <name>Macquarie Airfinance Holdings Ltd.</name>
        <lei>549300MCGUSL5B852H65</lei>
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        <name>Jersey Central Power &amp; Light Co.</name>
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        <name>FNMA</name>
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        <name>Diamondback Energy, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BSPRT Issuer Ltd.</name>
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        <name>N/A</name>
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        <name>Sage Group plc (The)</name>
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        <name>Colgate-Palmolive Co.</name>
        <lei>YMEGZFW4SBUSS5BQXF88</lei>
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        <name>N/A</name>
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          <other otherDesc="Future Ticker" value="G M5 Comdty"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Province of Alberta Canada</name>
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        <name>Roche Holding AG</name>
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        <name>FNMA</name>
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        <name>Aker BP ASA</name>
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        <name>FHLMC Pool</name>
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        <name>DSV Finance BV</name>
        <lei>529900RTQQ0IIS4B3E03</lei>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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      <invstOrSec>
        <name>KDDI Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NextEra Energy, Inc.</name>
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        <name>N/A</name>
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        <name>Low Income Investment Fund</name>
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        <name>T-Mobile USA, Inc.</name>
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        <name>Cigna Group (The)</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Severn Trent Utilities Finance plc</name>
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        <invCountry>GB</invCountry>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>N/A</name>
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        <name>Morgan Stanley</name>
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        <title>Morgan Stanley</title>
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        <name>Nestle Finance International Ltd.</name>
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        <invCountry>LU</invCountry>

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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Energy Transfer LP</name>
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        <name>Target Corp.</name>
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        <title>Target Corp.</title>
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        <name>Stanley Black &amp; Decker, Inc.</name>
        <lei>549300DJ09SMTO561131</lei>
        <title>Stanley Black &amp; Decker, Inc.</title>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>FORT CRE Issuer LLC</name>
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        <name>ConocoPhillips</name>
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        <name>Sberbank of Russia PJSC</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Republic of Italy</name>
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      <invstOrSec>
        <name>HSBC Holdings plc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Hellenic Republic</name>
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        <name>E.ON SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Charles Schwab Corp. (The)</name>
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        <name>FNMA</name>
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        <name>MF1 Ltd.</name>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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      <invstOrSec>
        <name>N/A</name>
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        <name>Northern States Power Co.</name>
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        <name>Tata Consultancy Services Ltd.</name>
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        <name>N/A</name>
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        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
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        <name>Japan</name>
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        <name>Japan</name>
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        <name>Arcadis NV</name>
        <lei>7245000UZH70GO047N03</lei>
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        <issuerCat>CORP</issuerCat>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ABN AMRO Bank NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
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        <cusip>N/A</cusip>
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          <isin value="NL0011540547"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140QKQL5</cusip>
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          <isin value="US3140QKQL57"/>
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        <balance>52923.80000000</balance>
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        <curCd>USD</curCd>
        <valUSD>44396.94000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SPP-Distribucia A/S</name>
        <lei>213800AGL5LRVQNANS48</lei>
        <title>SPP-Distribucia A/S</title>
        <cusip>N/A</cusip>
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          <isin value="XS2348408514"/>
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        <invCountry>SK</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-06-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PG&amp;E Corp.</name>
        <lei>8YQ2GSDWYZXO2EDN3511</lei>
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          <isin value="US69331C3060"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
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          <isin value="US06051GJT76"/>
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        <balance>605000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-22</maturityDt>
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          <annualizedRt>2.68700000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Anglo American Capital plc</name>
        <lei>TINT358G1SSHR3L3PW36</lei>
        <title>Anglo American Capital plc</title>
        <cusip>034863AW0</cusip>
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          <isin value="US034863AW07"/>
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        <balance>372000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-01</maturityDt>
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          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140KHW31</cusip>
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          <isin value="US3140KHW319"/>
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          <maturityDt>2050-07-01</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Verisk Analytics, Inc.</name>
        <lei>549300I1YSWNIRKBWP67</lei>
        <title>Verisk Analytics, Inc.</title>
        <cusip>92345Y106</cusip>
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        <fairValLevel>1</fairValLevel>
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        <name>Organon &amp; Co.</name>
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        <title>Organon &amp; Co.</title>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Canada</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Republic of Peru</name>
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        <title>Republic of Peru</title>
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        <invCountry>PE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BANK</name>
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        <name>Boston Properties LP</name>
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        <name>Enel Finance International NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
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        <name>FHLMC Pool</name>
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        <title>UMBS</title>
        <cusip>3132DWDY6</cusip>
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        <name>Japan</name>
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        <title>Japan Government Bond</title>
        <cusip>N/A</cusip>
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        <name>Prysmian SpA</name>
        <lei>529900X0H1IO3RS1A464</lei>
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          <isin value="XS2948435743"/>
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        <invCountry>IT</invCountry>
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        <name>N/A</name>
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        <name>Accenture Capital, Inc.</name>
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        <name>Heathrow Funding Ltd.</name>
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        <name>FHLMC Pool</name>
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        <name>Eli Lilly &amp; Co.</name>
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        <name>FHLMC</name>
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        <name>WH Group Ltd.</name>
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        <name>FNMA</name>
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        <name>Morgan Stanley Capital I Trust</name>
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        <name>Videotron Ltd.</name>
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        <name>Kroger Co. (The)</name>
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        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
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        <name>ACREC Ltd.</name>
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        <name>Nippon Life Insurance Co.</name>
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        <name>Lear Corp.</name>
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        <name>FHLMC Pool</name>
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        <name>T-Mobile USA, Inc.</name>
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        <name>Agilent Technologies, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Tesco Corporate Treasury Services plc</name>
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        <fairValLevel>2</fairValLevel>
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          <other otherDesc="Inhouse Asset ID" value="870449"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EPR Properties</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BXMT Ltd.</name>
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        <isRestrictedSec>Y</isRestrictedSec>

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        <name>Magyar Export-Import Bank Zrt.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Tower Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-15</maturityDt>
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        <name>Duke Energy Florida LLC</name>
        <lei>7MOHLM3DKE63RX2ZCN83</lei>
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        <name>China Construction Bank Corp.</name>
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        <name>Carlsberg Breweries A/S</name>
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        <invCountry>DK</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Japan</name>
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        <invCountry>JP</invCountry>
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          <maturityDt>2034-12-20</maturityDt>
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        <name>Hellenic Republic</name>
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        <name>Fairfax Financial Holdings Ltd.</name>
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        <name>BP Capital Markets plc</name>
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        <name>Secom Co. Ltd.</name>
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        <name>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
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        <name>BNP Paribas SA</name>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
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        <name>FHLMC</name>
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        <name>Enel SpA</name>
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        <name>FHLMC Pool</name>
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        <name>People's Republic of China</name>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>N/A</name>
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        <name>Booking Holdings, Inc.</name>
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        <name>Cie Generale des Etablissements Michelin SCA</name>
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        <name>FHLMC Pool</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>UMBS</title>
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        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>FHLMC Pool</name>
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        <name>Bank of America Corp.</name>
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        <name>Rio Tinto plc</name>
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        <name>Alliander NV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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          <isin value="US31416BW870"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TDC Net A/S</name>
        <lei>549300SH2G3R15Y3FX20</lei>
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        <cusip>N/A</cusip>
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          <isin value="XS3060305235"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-09</maturityDt>
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      <invstOrSec>
        <name>American International Group, Inc.</name>
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          <isin value="US026874DS37"/>
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        <fairValLevel>2</fairValLevel>
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        <name>FNMA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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          <other otherDesc="Inhouse Asset ID" value="870448"/>
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        <fairValLevel>2</fairValLevel>
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              <counterpartyName>State Street Bank and Trust</counterpartyName>
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      <invstOrSec>
        <name>Honeywell International, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Dick's Sporting Goods, Inc.</name>
        <lei>529900SSBV5I4LWSK313</lei>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TotalEnergies SE</name>
        <lei>529900S21EQ1BO4ESM68</lei>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Flowers Foods, Inc.</name>
        <lei>7YNCQQNDK8FBM9BBTK25</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-15</maturityDt>
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        <name>P3 Group SARL</name>
        <lei>529900GR62MT0O5VW110</lei>
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          <isin value="XS2436807940"/>
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        <invCountry>LU</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-26</maturityDt>
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        <name>Paychex, Inc.</name>
        <lei>529900K900DW6SUBM174</lei>
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        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Landsbankinn HF</name>
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        <name>Nestle SA</name>
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        <name>Whitbread Group plc</name>
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        <name>WMG Acquisition Corp.</name>
        <lei>549300NAS11NXI33CP80</lei>
        <title>WMG Acquisition Corp.</title>
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        <name>Huntington Ingalls Industries, Inc.</name>
        <lei>5TZLZ6WJTBVJ0QWBG121</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Boeing Co. (The)</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co. (The)</title>
        <cusip>097023204</cusip>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <name>Flutter Treasury DAC</name>
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        <name>Masco Corp.</name>
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        <name>Northern Trust Corp.</name>
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      <invstOrSec>
        <name>Avolon Holdings Funding Ltd.</name>
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          <isin value="US05401AAG67"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FNMA</name>
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          <isin value="US3140XEAU87"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Benchmark Mortgage Trust</name>
        <lei>N/A</lei>
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          <isin value="US08163HAG39"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dun &amp; Bradstreet Holdings, Inc.</name>
        <lei>254900LNALVKD1ZX7U27</lei>
        <title>Dun &amp; Bradstreet Holdings, Inc.</title>
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          <isin value="US26484T1060"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140XDYN0</cusip>
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          <isin value="US3140XDYN06"/>
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        <balance>132240.94000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-12-01</maturityDt>
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          <annualizedRt>2.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts Housing Finance Agency</name>
        <lei>549300NLJBK1VP6K2K81</lei>
        <title>Massachusetts Housing Finance Agency</title>
        <cusip>57587GTN5</cusip>
        <identifiers>
          <isin value="US57587GTN50"/>
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        <balance>980000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Algonquin Power &amp; Utilities Corp.</name>
        <lei>549300K5VIUTJXQL7X75</lei>
        <title>Algonquin Power &amp; Utilities Corp.</title>
        <cusip>015857AF2</cusip>
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          <isin value="US015857AF21"/>
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        <balance>240000.00000000</balance>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-15</maturityDt>
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      <invstOrSec>
        <name>OBX Trust</name>
        <lei>254900UI1468MQ7I8472</lei>
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        <cusip>67448LAA0</cusip>
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          <isin value="US67448LAA08"/>
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        <balance>588964.20000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Inhouse Asset ID" value="869417"/>
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        <curCd>N/A</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>Canada Government Bond</title>
        <cusip>135087N59</cusip>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Swiss Life Finance I AG</name>
        <lei>549300GDVNT1NHIHOW12</lei>
        <title>Swiss Life Finance I AG</title>
        <cusip>N/A</cusip>
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        <invCountry>LI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CLP Holdings Ltd.</name>
        <lei>25490002BUTSMP94GO68</lei>
        <title>CLP Holdings Ltd.</title>
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        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>BBCMS Mortgage Trust</name>
        <lei>N/A</lei>
        <title>BBCMS Mortgage Trust, Series 2020-C7, Class XA</title>
        <cusip>05492VAG0</cusip>
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          <isin value="US05492VAG05"/>
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        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179XHW9</cusip>
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        <issuerCat>USGA</issuerCat>
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      <invstOrSec>
        <name>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>Johnson &amp; Johnson</title>
        <cusip>478160DA9</cusip>
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          <isin value="XS2821719536"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NXP Semiconductors NV</name>
        <lei>724500M9BY5293JDF951</lei>
        <title>NXP Semiconductors NV</title>
        <cusip>N/A</cusip>
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        <balance>28479.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Anhui Conch Cement Co. Ltd.</name>
        <lei>300300JVKW56SSAEQZ33</lei>
        <title>Anhui Conch Cement Co. Ltd., Class H</title>
        <cusip>N/A</cusip>
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        <balance>959000.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GNMA</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA</title>
        <cusip>36179XBT2</cusip>
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          <isin value="US36179XBT28"/>
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        <name>BP Capital Markets America, Inc.</name>
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        <name>Mastercard, Inc.</name>
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        <name>Benchmark Mortgage Trust</name>
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        <name>ESB Finance DAC</name>
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        <name>Heineken NV</name>
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        <name>Enel Finance International NV</name>
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        <name>GNMA</name>
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        <name>BBCMS Mortgage Trust</name>
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        <name>Heathrow Funding Ltd.</name>
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        <name>Fujitsu Ltd.</name>
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        <name>N/A</name>
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        <name>Heidelberg Materials AG</name>
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        <name>EOG Resources, Inc.</name>
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        <name>FNMA</name>
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        <title>UMBS</title>
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        <name>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
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      <invstOrSec>
        <name>FHLMC</name>
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      <invstOrSec>
        <name>Doosan Bobcat, Inc.</name>
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        <name>N/A</name>
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        <name>Kingdom of Saudi Arabia</name>
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        <name>People's Republic of China</name>
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        <name>FHLMC Pool</name>
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        <name>Oracle Corp.</name>
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        <name>Highwoods Properties, Inc.</name>
        <lei>ZIIGTYKL9T0X3HLTDX53</lei>
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        <name>EnBW International Finance BV</name>
        <lei>724500CNCIO1ZTJ0X675</lei>
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        <name>Experian Finance plc</name>
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          <isin value="XS2982065018"/>
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        <invCountry>GB</invCountry>

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        <name>FHLMC Pool</name>
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          <isin value="US3133AWL770"/>
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        <name>Global Payments, Inc.</name>
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        <name>Texas Roadhouse, Inc.</name>
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        <name>Anheuser-Busch InBev Worldwide, Inc.</name>
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        <name>BANK</name>
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        <name>United Kingdom of Great Britain and Northern Ireland</name>
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        <name>Leidos Holdings, Inc.</name>
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        <name>Hydro One, Inc.</name>
        <lei>549300X54QEYZVDC8R04</lei>
        <title>Hydro One, Inc.</title>
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        <title>IRS</title>
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        <name>WEA Finance LLC</name>
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        <name>Accenture plc</name>
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        <name>FHLMC</name>
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        <name>Angel Oak Mortgage Trust</name>
        <lei>254900S8TF74AZOT0548</lei>
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        <name>Aptiv plc</name>
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        <name>FHLMC</name>
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        <name>Rio Tinto Finance USA plc</name>
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        <name>Arkema SA</name>
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        <name>Gerdau SA</name>
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        <name>NXP BV</name>
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        <name>Arrow Electronics, Inc.</name>
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        <name>Capgemini SE</name>
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        <name>FNMA</name>
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        <name>Electronic Arts, Inc.</name>
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        <name>Entergy Corp.</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>Entergy Corp.</title>
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        <name>DSV Finance BV</name>
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        <name>QUALCOMM, Inc.</name>
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        <name>Alphabet, Inc.</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>Alphabet, Inc.</title>
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        <name>Saudi Arabian Oil Co.</name>
        <lei>5586006WD91QHB7J4X50</lei>
        <title>Saudi Arabian Oil Co.</title>
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      <invstOrSec>
        <name>Truist Financial Corp.</name>
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        <name>FNMA</name>
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        <name>FHLMC</name>
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        <name>AREIT Trust</name>
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        <name>FNMA</name>
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        <name>N/A</name>
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        <name>N/A</name>
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        <name>Nomad Foods Ltd.</name>
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        <name>FNMA</name>
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        <name>Nationwide Building Society</name>
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        <name>M&amp;T Bank Corp.</name>
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        <name>N/A</name>
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        <title>Euro-Schatz</title>
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          <isin value="DE000F1B2NJ1"/>
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        <name>Erste Group Bank AG</name>
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        <name>HSBC Holdings plc</name>
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        <name>Hellenic Telecommunications Organization SA</name>
        <lei>ELPUFM0XZRZO4LFXW404</lei>
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        <name>Boeing Co. (The)</name>
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        <name>FHLMC Pool</name>
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        <name>Toledo Hospital (The)</name>
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        <name>Roche Holdings, Inc.</name>
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        <name>Eastern Energy Gas Holdings LLC</name>
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        <name>Morgan Stanley</name>
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        <name>FNMA</name>
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        <name>Berkshire Hathaway Energy Co.</name>
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        <name>FNMA</name>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
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        <name>FHLMC Pool</name>
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        <name>Fidelity National Information Services, Inc.</name>
        <lei>6WQI0GK1PRFVBA061U48</lei>
        <title>Fidelity National Information Services, Inc.</title>
        <cusip>31620M106</cusip>
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          <isin value="US31620M1062"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mitsubishi Electric Corp.</name>
        <lei>549300TRXM9Y6561AX39</lei>
        <title>Mitsubishi Electric Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3902400005"/>
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        <balance>268700.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="142.98000000"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COPT Defense Properties LP</name>
        <lei>H0TWO5VRNEP6CQAWPX27</lei>
        <title>COPT Defense Properties LP</title>
        <cusip>22003BAM8</cusip>
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          <isin value="US22003BAM81"/>
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        <balance>173000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>149884.37000000</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>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Store Capital LLC</name>
        <lei>254900Z9PIEFQ6AYXK50</lei>
        <title>Store Capital LLC</title>
        <cusip>862121AD2</cusip>
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          <isin value="US862121AD28"/>
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        <balance>878000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>743218.04000000</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>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bacardi Ltd.</name>
        <lei>N/A</lei>
        <title>Bacardi Ltd.</title>
        <cusip>05635JAB6</cusip>
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          <isin value="US05635JAB61"/>
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        <balance>472000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>458376.88000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FHLMC</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHLMC Multifamily Structured Pass-Through Certificates, Series K133, Class XAM</title>
        <cusip>3137H4BT6</cusip>
        <identifiers>
          <isin value="US3137H4BT66"/>
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        <balance>13281588.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>398859.37000000</valUSD>
        <pctVal>0.032865294091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>0.63215280</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
        <cusip>00287YDZ9</cusip>
        <identifiers>
          <isin value="US00287YDZ97"/>
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        <balance>334000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>341352.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="869646"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-14692.67000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>Deutsche Bank</counterpartyName>
              <counterpartyLei>7LTWFZYICNSX8D621K86</counterpartyLei>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Japan Tobacco, Inc.</name>
        <lei>353800Z0ENYBQO0XRJ31</lei>
        <title>Japan Tobacco, Inc.</title>
        <cusip>471105AD8</cusip>
        <identifiers>
          <isin value="US471105AD85"/>
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        <balance>566000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>585299.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Las Vegas Sands Corp.</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp.</title>
        <cusip>517834AL1</cusip>
        <identifiers>
          <isin value="US517834AL18"/>
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        <balance>500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>489941.11000000</valUSD>
        <pctVal>0.040370265508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.20000000</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>Veralto Corp.</name>
        <lei>635400FJE6GSOJUSNY27</lei>
        <title>Veralto Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2868742409"/>
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        <balance>457000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
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        <pctVal>0.044089342867</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Massachusetts Educational Financing Authority</name>
        <lei>5493007K5OP7V6CL0Y88</lei>
        <title>Massachusetts Educational Financing Authority</title>
        <cusip>57563RRZ4</cusip>
        <identifiers>
          <isin value="US57563RRZ46"/>
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        <balance>960000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>891160.22000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.64100000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>91282CMU2</cusip>
        <identifiers>
          <isin value="US91282CMU26"/>
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        <balance>5378000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5444804.87000000</valUSD>
        <pctVal>0.448642119958</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>National Grid plc</name>
        <lei>8R95QZMKZLJX5Q2XR704</lei>
        <title>National Grid plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2575973776"/>
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        <balance>780000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
        <valUSD>917851.02000000</valUSD>
        <pctVal>0.075629271801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>Crh Finance UK plc</name>
        <lei>549300MQJDHXCWSM5880</lei>
        <title>Crh Finance UK plc</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1328187627"/>
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        <balance>510000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.75035641"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Arthur J Gallagher &amp; Co.</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>Arthur J Gallagher &amp; Co.</title>
        <cusip>04316JAF6</cusip>
        <identifiers>
          <isin value="US04316JAF66"/>
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        <balance>158000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>171359.91000000</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>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Barry Callebaut Services NV</name>
        <lei>213800R1F1EJYM4ICO85</lei>
        <title>Barry Callebaut Services NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BE6360449621"/>
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        <balance>300000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>Samsung Electronics Co. Ltd.</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>Samsung Electronics Co. Ltd.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7005930003"/>
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        <balance>131889.00000000</balance>
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        <currencyConditional curCd="KRW" exchangeRt="1421.50000000"/>
        <valUSD>5149377.07000000</valUSD>
        <pctVal>0.424299401045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Islandsbanki HF</name>
        <lei>549300PZMFIQR79Q0T97</lei>
        <title>Islandsbanki HF</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3028099417"/>
        </identifiers>
        <balance>420000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
        <valUSD>479597.90000000</valUSD>
        <pctVal>0.039518003623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IS</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</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>Inmobiliaria Colonial Socimi SA</name>
        <lei>95980020140005007414</lei>
        <title>Inmobiliaria Colonial Socimi SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS2979643991"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
        <valUSD>455370.36000000</valUSD>
        <pctVal>0.037521697940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vulcan Materials Co.</name>
        <lei>549300Q8LSNHAVWBNI21</lei>
        <title>Vulcan Materials Co.</title>
        <cusip>929160BD0</cusip>
        <identifiers>
          <isin value="US929160BD00"/>
        </identifiers>
        <balance>297000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>283835.01000000</valUSD>
        <pctVal>0.023387493885</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Charter Communications Operating LLC</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC</title>
        <cusip>161175CQ5</cusip>
        <identifiers>
          <isin value="US161175CQ56"/>
        </identifiers>
        <balance>579000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>599601.76000000</valUSD>
        <pctVal>0.049406105665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.10000000</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>Marsh &amp; McLennan Cos., Inc.</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>Marsh &amp; McLennan Cos., Inc.</title>
        <cusip>571748CB6</cusip>
        <identifiers>
          <isin value="US571748CB69"/>
        </identifiers>
        <balance>425000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>429676.17000000</valUSD>
        <pctVal>0.035404542937</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.85000000</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>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140KG3Z4</cusip>
        <identifiers>
          <isin value="US3140KG3Z41"/>
        </identifiers>
        <balance>78051.56000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>66532.91000000</valUSD>
        <pctVal>0.005482192016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Henkel AG &amp; Co. KGaA</name>
        <lei>549300VZCL1HTH4O4Y49</lei>
        <title>Henkel AG &amp; Co. KGaA (Preference)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0006048432"/>
        </identifiers>
        <balance>85031.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
        <valUSD>6588792.00000000</valUSD>
        <pctVal>0.542904600150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="867214"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>2140.75000000</valUSD>
        <pctVal>0.000176393946</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>HSBC Bank</counterpartyName>
              <counterpartyLei>MP6I5ZYZBEU3UXPYFY54</counterpartyLei>
            </counterparties>
            <amtCurSold>63338.08000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>57514.97000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2025-07-18</settlementDt>
            <unrealizedAppr>2140.75000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sandoz Finance BV</name>
        <lei>213800DFA3WXJ7KC9R74</lei>
        <title>Sandoz Finance BV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS3032013511"/>
        </identifiers>
        <balance>280000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88272939"/>
        <valUSD>318965.43000000</valUSD>
        <pctVal>0.026282177254</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>3140KG4A8</cusip>
        <identifiers>
          <isin value="US3140KG4A80"/>
        </identifiers>
        <balance>48590.79000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>41338.32000000</valUSD>
        <pctVal>0.003406203153</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Forward Foreign Currency Contract</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Asset ID" value="867934"/>
        </identifiers>
        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-3281.35000000</valUSD>
        <pctVal>-0.00027037733</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Forward Foreign Currency Contract" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>State Street Bank and Trust</counterpartyName>
              <counterpartyLei>571474TGEMMWANRLN572</counterpartyLei>
            </counterparties>
            <amtCurSold>198947748.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>1400564.98000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2025-07-18</settlementDt>
            <unrealizedAppr>-3281.35000000</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Toyota Industries Corp.</name>
        <lei>35380000WKGEAHEMW830</lei>
        <title>Toyota Industries Corp.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3634600005"/>
        </identifiers>
        <balance>51000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="142.98000000"/>
        <valUSD>5978178.77000000</valUSD>
        <pctVal>0.492591169178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>U.S. Treasury 5 Year Note</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Inhouse Sedol" value="FVM5COM"/>
          <other otherDesc="Future Ticker" value="FVM5 Comdty"/>
        </identifiers>
        <balance>111.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>270169.56000000</valUSD>
        <pctVal>0.022261485405</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>CME Clearing House</counterpartyName>
              <counterpartyLei>LCZ7XYGSLJUHFXXNXD88</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
                <issueTitle>U.S. Treasury 5 Year Note</issueTitle>
                <identifiers>
                  <ticker value="FVM5 Comdty"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2025-06-30</expDate>
            <notionalAmt>12120679.74000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>270169.56000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mars, Inc.</name>
        <lei>54930073HKEO6GZBSS03</lei>
        <title>Mars, Inc.</title>
        <cusip>571676BC8</cusip>
        <identifiers>
          <isin value="US571676BC81"/>
        </identifiers>
        <balance>536000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>528314.94000000</valUSD>
        <pctVal>0.043532200023</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FNMA</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>UMBS</title>
        <cusip>31418EBS8</cusip>
        <identifiers>
          <isin value="US31418EBS81"/>
        </identifiers>
        <balance>445486.30000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>371627.29000000</valUSD>
        <pctVal>0.030621419720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chesapeake Funding II LLC</name>
        <lei>5493000HT7H4OFOD6Z12</lei>
        <title>Chesapeake Funding II LLC, Series 2023-1A, Class A1</title>
        <cusip>165183CU6</cusip>
        <identifiers>
          <isin value="US165183CU69"/>
        </identifiers>
        <balance>294726.96000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>296428.65000000</valUSD>
        <pctVal>0.024425187151</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.65000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="All applicable monthly total returns are reported excluding any sales loads or redemption fees for Item B.5." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2025-05-30</ncom:dateSigned>
      <ncom:nameOfApplicant>MFS Series Trust VI</ncom:nameOfApplicant>
      <ncom:signature>James Byrne</ncom:signature>
      <ncom:signerName>James Byrne</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
