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          <ccc>XXXXXXXX</ccc>
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        <classId>C000029059</classId>
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      <regCik>0000865733</regCik>
      <regLei>54930064OKHCLZTUHW53</regLei>
      <regStreet1>4301 WILSON BLVD</regStreet1>
      <regCity>ARLINGTON</regCity>
      <regStateConditional regCountry="US" regState="US-VA"/>
      <regZipOrPostalCode>22203</regZipOrPostalCode>
      <regPhone>800-258-3030</regPhone>
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      <seriesId>S000010526</seriesId>
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      <repPdEnd>2022-12-31</repPdEnd>
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      <totLiabs>1859087.34</totLiabs>
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      <assetsInvested>0.00000000</assetsInvested>
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        <name>NATIONWIDE BLDG SOCIETY</name>
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        <name>MITSUBISHI UFJ FIN GRP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>US AIRWAYS 2013-1A PTT</name>
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          <isin value="US90346WAA18"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAUDI ARABIAN OIL CO</name>
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          <isin value="US80414L2H78"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TRANSCANADA PIPELINES</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
        <title>TransCanada PipeLines Ltd</title>
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          <isin value="CA89352LAC42"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Harris County Cultural Education Facilities Finance Corp</name>
        <lei>N/A</lei>
        <title>HARRIS CNTY TX CULTURAL EDU FACS FIN CORP MED FACS REVENUE</title>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>RECKITT BENCKISER TSY</name>
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        <title>Reckitt Benckiser Treasury Services PLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NATWEST GROUP PLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Consumer Loan Underlying Bond Credit Trust</name>
        <lei>N/A</lei>
        <title>CONSUMER LOAN UNDERLYING BOND CLUB CERTIFICATE ISSUER TRUST I SERIES 2019-HP1</title>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>Carvana Auto Receivables Trust</name>
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        <title>Carvana Auto Receivables Trust 2020-NP1</title>
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          <isin value="US14687PAC95"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DT Auto Owner Trust</name>
        <lei>N/A</lei>
        <title>DT Auto Owner Trust 2020-3</title>
        <cusip>26253AAA4</cusip>
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          <isin value="US26253AAA43"/>
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        <balance>208000.80000000</balance>
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        <name>Bank of America Corp</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>PACIFIC GAS &amp; ELECTRIC</name>
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      <invstOrSec>
        <name>Oasis Securitisation</name>
        <lei>N/A</lei>
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        <name>Petroleos Mexicanos</name>
        <lei>549300CAZKPF4HKMPX17</lei>
        <title>Petroleos Mexicanos</title>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>United Auto Credit Securitization Trust</name>
        <lei>N/A</lei>
        <title>United Auto Credit Securitization Trust 2022-1</title>
        <cusip>90944DAA9</cusip>
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        <name>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SOUTHERN CAL EDISON</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <balance>1853.93000000</balance>
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      <invstOrSec>
        <name>AMER AIRLN 15-2 AA PTT</name>
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        <name>United States Treasury</name>
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        <name>LAD Auto Receivables Trust</name>
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        <name>BNSF RAILWAY CO 2015-1 P</name>
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        <name>Oportun Funding LLC</name>
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      <invstOrSec>
        <name>ENTERGY NEW ORLEANS STORE RECOVERY FUNDING LLC</name>
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      <invstOrSec>
        <name>FIDUS INVESTMENT CORP</name>
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        <name>SEALED AIR CORP</name>
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        <name>SPRINT SPECTRUM / SPEC I</name>
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        <name>FRTKL</name>
        <lei>N/A</lei>
        <title>FRTKL 2021-SFR1</title>
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        <name>Credit Acceptance Auto Loan Trust</name>
        <lei>N/A</lei>
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        <name>Reliance Industries Ltd</name>
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        <title>Reliance Industries Ltd</title>
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        <invCountry>IN</invCountry>
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        <name>DELTA AIR LINES/SKYMILES</name>
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        <name>Metropolitan Edison Co</name>
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        <title>Metropolitan Edison Co</title>
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        <name>BIO-RAD LABS</name>
        <lei>549300ZC1GPV35XYDK53</lei>
        <title>Bio-Rad Laboratories Inc</title>
        <cusip>090572AR9</cusip>
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        <name>United Auto Credit Securitization Trust</name>
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        <name>HOUSING URBAN DEVELOPMNT</name>
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        <name>American Credit Acceptance Receivables Trust</name>
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        <name>GLS Auto Receivables Trust</name>
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        <name>7-ELEVEN INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BROOKLYN UNION GAS CO</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TRITON CONTAINER</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AVOLON HOLDINGS FNDG LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Maine Health &amp; Higher Educational Facilities Authority</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Salomon Brothers Mortgage Securities VII</name>
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        <name>Longtrain Leasing III LLC</name>
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        <name>GA GLOBAL FUNDING TRUST</name>
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        <name>AMERISOURCEBERGEN CORP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>SERVICE PROPERTIES TRUST</name>
        <lei>529900IS770AG1K9QG27</lei>
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        <name>BANCO SANTANDER SA</name>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Santa Rosa Leasing LLC</name>
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        <name>OWL ROCK TECHNOLOGY FINA</name>
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        <name>Progress Residential Trust</name>
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        <name>PIONEER NATURAL RESOURCE</name>
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        <title>Pioneer Natural Resources Co</title>
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      <invstOrSec>
        <name>Credit Acceptance Auto Loan Trust</name>
        <lei>N/A</lei>
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        <name>PHILLIPS 66</name>
        <lei>5493005JBO5YSIGK1814</lei>
        <title>Phillips 66</title>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Main Street Capital Corp</name>
        <lei>5493001FS9QJLJNF3E20</lei>
        <title>Main Street Capital Corp</title>
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          <isin value="US56035LAD64"/>
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        <balance>1271000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1297009.99000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
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          <isin value="US06051GJK67"/>
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        <balance>920000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.20000000</annualizedRt>
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      <invstOrSec>
        <name>7-ELEVEN INC</name>
        <lei>549300K23JPL0SS3LB18</lei>
        <title>7-Eleven Inc</title>
        <cusip>817826AC4</cusip>
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          <isin value="US817826AC47"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-10</maturityDt>
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          <annualizedRt>0.95000000</annualizedRt>
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      <invstOrSec>
        <name>Foursight Capital Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Foursight Capital Automobile Receivables Trust 2022-1</title>
        <cusip>35105JAB4</cusip>
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          <isin value="US35105JAB44"/>
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        <balance>585000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>576735.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>7-ELEVEN INC</name>
        <lei>549300K23JPL0SS3LB18</lei>
        <title>7-Eleven Inc</title>
        <cusip>817826AA8</cusip>
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          <isin value="US817826AA80"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>984423.56000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.63000000</annualizedRt>
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      <invstOrSec>
        <name>TENCENT MUSIC ENT GRP</name>
        <lei>213800XTZK2GOHQTYK41</lei>
        <title>Tencent Music Entertainment Group</title>
        <cusip>88034PAA7</cusip>
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          <isin value="US88034PAA75"/>
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        <balance>1260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1154312.09000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.38000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NISSAN MOTOR CO</name>
        <lei>353800DRBDH1LUTNAY26</lei>
        <title>Nissan Motor Co Ltd</title>
        <cusip>654744AC5</cusip>
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          <isin value="US654744AC50"/>
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        <balance>1850000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1822948.26000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MIDWEST CONNECTOR CAPIT</name>
        <lei>N/A</lei>
        <title>Midwest Connector Capital Co LLC</title>
        <cusip>59833CAA0</cusip>
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          <isin value="US59833CAA09"/>
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        <balance>3270000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>ANTARES HOLDINGS</name>
        <lei>5493008EAIGV4283RM42</lei>
        <title>Antares Holdings LP</title>
        <cusip>03666HAC5</cusip>
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          <isin value="US03666HAC51"/>
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        <balance>335000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>312268.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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      <invstOrSec>
        <name>JBS FINANCE LUXEMBOURG</name>
        <lei>N/A</lei>
        <title>JBS Finance Luxembourg Sarl</title>
        <cusip>46592QAB5</cusip>
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          <isin value="US46592QAB59"/>
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        <balance>3364000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3124348.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Westlake Automobile Receivables Trust 2020-3</title>
        <cusip>96042QAC4</cusip>
        <identifiers>
          <isin value="US96042QAC42"/>
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        <balance>787650.44000000</balance>
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        <curCd>USD</curCd>
        <valUSD>785764.96000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-15</maturityDt>
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          <annualizedRt>0.56000000</annualizedRt>
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      <invstOrSec>
        <name>Upstart Securitization Trust</name>
        <lei>N/A</lei>
        <title>Upstart Securitization Trust 2021-3</title>
        <cusip>91679LAA0</cusip>
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          <isin value="US91679LAA08"/>
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        <balance>675969.36000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-20</maturityDt>
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          <annualizedRt>0.83000000</annualizedRt>
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      <invstOrSec>
        <name>Westlake Automobile Receivables Trust</name>
        <lei>N/A</lei>
        <title>Westlake Automobile Receivables Trust 2019-2</title>
        <cusip>96041LAE2</cusip>
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        <balance>361175.95000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <maturityDt>2024-07-15</maturityDt>
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        <name>SBA Tower Trust</name>
        <lei>N/A</lei>
        <title>SBA Tower Trust</title>
        <cusip>78403DAN0</cusip>
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        <balance>4765000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.84000000</annualizedRt>
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      <invstOrSec>
        <name>ENEL FINANCE INTL NV</name>
        <lei>0YQH6LCEF474UTUV4B96</lei>
        <title>Enel Finance International NV</title>
        <cusip>29278GAL2</cusip>
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          <isin value="US29278GAL23"/>
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        <balance>3275000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-09-10</maturityDt>
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          <annualizedRt>2.65000000</annualizedRt>
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      <invstOrSec>
        <name>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29278NAH6</cusip>
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          <isin value="US29278NAH61"/>
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        <balance>1100000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>MIDWEST CONNECTOR CAPIT</name>
        <lei>N/A</lei>
        <title>Midwest Connector Capital Co LLC</title>
        <cusip>59833CAB8</cusip>
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          <isin value="US59833CAB81"/>
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        <balance>2176000.00000000</balance>
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        <valUSD>2176000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-01</maturityDt>
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          <annualizedRt>3.63000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>New Jersey Housing &amp; Mortgage Finance Agency</name>
        <lei>5493002ONULJL0FIGU24</lei>
        <title>NEW JERSEY ST HSG &amp; MTGE FIN AGY REVENUE</title>
        <cusip>64613ADR0</cusip>
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          <isin value="US64613ADR05"/>
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        <balance>690000.00000000</balance>
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        <valUSD>665439.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-04-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INT DEVELOPMENT FIN CORP</name>
        <lei>254900QI8QTIK0FY6E92</lei>
        <title>United States International Development Finance Corp</title>
        <cusip>6903536P7</cusip>
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          <isin value="US6903536P76"/>
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        <balance>755181.72000000</balance>
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        <curCd>USD</curCd>
        <valUSD>741175.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-10-15</maturityDt>
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      <invstOrSec>
        <name>SBA Tower Trust</name>
        <lei>N/A</lei>
        <title>SBA Tower Trust</title>
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          <isin value="US78403DAM20"/>
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        <balance>2420000.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-03-15</maturityDt>
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          <annualizedRt>3.45000000</annualizedRt>
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      <invstOrSec>
        <name>City of El Cajon CA</name>
        <lei>N/A</lei>
        <title>EL CAJON CA</title>
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          <isin value="US282659AZ49"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>281395.92000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.70000000</annualizedRt>
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      <invstOrSec>
        <name>CoreVest American Finance Ltd</name>
        <lei>N/A</lei>
        <title>Corevest American Finance 2020-4 Trust</title>
        <cusip>21873AAA5</cusip>
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          <isin value="US21873AAA51"/>
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        <balance>817764.68000000</balance>
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        <curCd>USD</curCd>
        <valUSD>758666.63000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-12-15</maturityDt>
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          <annualizedRt>1.17000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CoreVest American Finance Trust</name>
        <lei>N/A</lei>
        <title>CoreVest American Finance 2021-3 Trust</title>
        <cusip>21873NAG4</cusip>
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          <isin value="US21873NAG43"/>
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        <balance>2480000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2291089.47000000</valUSD>
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        <assetCat>ABS-O</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-10-15</maturityDt>
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          <annualizedRt>2.49000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Legrand France SA</name>
        <lei>969500TJLHIZLFRWEQ48</lei>
        <title>Legrand France SA</title>
        <cusip>524671AA2</cusip>
        <identifiers>
          <isin value="US524671AA21"/>
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        <balance>3384000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3874695.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VERIZON COMMUNICATIONS</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications Inc</title>
        <cusip>92343VFS8</cusip>
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          <isin value="US92343VFS88"/>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1572800.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.85000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29278NAP8</cusip>
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          <isin value="US29278NAP87"/>
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        <balance>2900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2836638.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BOEING CO</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>Boeing Co/The</title>
        <cusip>097023DG7</cusip>
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          <isin value="US097023DG73"/>
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        <balance>3800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3592582.59000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.20000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AVOLON HOLDINGS FNDG LTD</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd</title>
        <cusip>05401AAM3</cusip>
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          <isin value="US05401AAM36"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1369548.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.13000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>91282CED9</cusip>
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          <isin value="US91282CED92"/>
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        <balance>50697000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-15</maturityDt>
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          <annualizedRt>1.75000000</annualizedRt>
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      <invstOrSec>
        <name>United States Treasury</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>91282CAB7</cusip>
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          <isin value="US91282CAB72"/>
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        <balance>54405000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-31</maturityDt>
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      <invstOrSec>
        <name>PLUTO AIRCRAFT LEASING</name>
        <lei>N/A</lei>
        <title>Pluto Aircraft Leasing LLC</title>
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          <isin value="US72941XAA63"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-02-07</maturityDt>
          <couponKind>Floating</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gracie Point International Funding</name>
        <lei>N/A</lei>
        <title>Gracie Point International Funding 2020-B</title>
        <cusip>38411DAA2</cusip>
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          <isin value="US38411DAA28"/>
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        <balance>749970.67000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-02</maturityDt>
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          <annualizedRt>1.63000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MSN 41079 and 41084 Ltd</name>
        <lei>N/A</lei>
        <title>MSN 41079 and 41084 Ltd</title>
        <cusip>553737AB3</cusip>
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          <isin value="US553737AB39"/>
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        <balance>648288.27000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Credit Acceptance Receivables Trust</name>
        <lei>N/A</lei>
        <title>American Credit Acceptance Receivables Trust 2020-3</title>
        <cusip>025297AB8</cusip>
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          <isin value="US025297AB89"/>
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        <balance>290890.61000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-13</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>State Street Global Advisors</name>
        <lei>549300BZ5TGIFZUZDZ37</lei>
        <title>State Street Institutional US Government Money Market Fund</title>
        <cusip>857492706</cusip>
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          <isin value="US8574927062"/>
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        <balance>29435364.94000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DT Auto Owner Trust</name>
        <lei>N/A</lei>
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        <name>United States Treasury</name>
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        <name>Bank of Montreal</name>
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        <name>MSN 41079 and 41084 Ltd</name>
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        <name>Avant Credit Card Master Trust</name>
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        <name>Oasis Securitisation</name>
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        <name>SBA TOWER TRUST</name>
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        <name>DELTA AIR LINES INC</name>
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        <name>NP SPE LP</name>
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        <name>SUMITOMO MITSUI TR BK LT</name>
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        <name>SINOPEC GRP OVERSEA 2012</name>
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        <name>HARMAN INTL IND</name>
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        <name>ATHENE GLOBAL FUNDING</name>
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        <title>Athene Global Funding</title>
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        <name>CoreVest American Finance Ltd</name>
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        <name>BANCO BILBAO VIZCAYA ARG</name>
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      <invstOrSec>
        <name>NISSAN MOTOR ACCEPTANCE</name>
        <lei>7D6DIU2QXTUJRFNNJA49</lei>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-16</maturityDt>
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      <invstOrSec>
        <name>DAIMLER TRUCKS FINAN NA</name>
        <lei>5493003HSDTSCZRXBA58</lei>
        <title>Daimler Trucks Finance North America LLC</title>
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          <isin value="US233853AD26"/>
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        <curCd>USD</curCd>
        <valUSD>1432095.89000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-13</maturityDt>
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      <invstOrSec>
        <name>AMER AIRLINE 21-1B PTT</name>
        <lei>N/A</lei>
        <title>American Airlines 2021-1 Class B Pass Through Trust</title>
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          <isin value="US02376LAA35"/>
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        <balance>1000000.00000000</balance>
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        <valUSD>904666.30000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-07-11</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED AIR 2020-1 A PTT</name>
        <lei>N/A</lei>
        <title>United Airlines 2020-1 Class A Pass Through Trust</title>
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          <isin value="US90931GAA76"/>
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        <curCd>USD</curCd>
        <valUSD>4528868.72000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
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          <annualizedRt>5.88000000</annualizedRt>
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      <invstOrSec>
        <name>OSCAR US Funding Trust</name>
        <lei>N/A</lei>
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          <isin value="US68785AAB17"/>
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        <curCd>USD</curCd>
        <valUSD>473335.01000000</valUSD>
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        <invCountry>JP</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-03-11</maturityDt>
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          <annualizedRt>0.40000000</annualizedRt>
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      <invstOrSec>
        <name>DAIMLER FINANCE NA LLC</name>
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        <curCd>USD</curCd>
        <valUSD>918100.10000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-19</maturityDt>
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          <annualizedRt>3.30000000</annualizedRt>
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        <name>VOLKSWAGEN GROUP AMERICA</name>
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        <title>Volkswagen Group of America Finance LLC</title>
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        <valUSD>6041875.26000000</valUSD>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-24</maturityDt>
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          <annualizedRt>1.25000000</annualizedRt>
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      <invstOrSec>
        <name>NISSAN MOTOR CO</name>
        <lei>353800DRBDH1LUTNAY26</lei>
        <title>Nissan Motor Co Ltd</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-17</maturityDt>
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        <name>MACQUARIE GROUP LTD</name>
        <lei>ACMHD8HWFMFUIQQ8Y590</lei>
        <title>Macquarie Group Ltd</title>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2277696.95000000</valUSD>
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        <invCountry>AU</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>New Jersey Housing &amp; Mortgage Finance Agency</name>
        <lei>5493002ONULJL0FIGU24</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BANCO SANTANDER SA</name>
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        <invCountry>ES</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <invCountry>US</invCountry>
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        <name>PANASONIC CORP</name>
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        <name>SYNGENTA FINANCE NV</name>
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        <name>Royal Bank of Canada</name>
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        <invCountry>CA</invCountry>
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        <name>DELTA AIR LINES INC</name>
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        <title>Delta Air Lines Inc</title>
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        <name>BANK OF AMERICA CORP</name>
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      <invstOrSec>
        <name>CNH Equipment Trust</name>
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      <invstOrSec>
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        <name>Westgate Resorts</name>
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        <name>GLS Auto Receivables Trust</name>
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        <name>DELTA AIR LINES/SKYMILES</name>
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        <name>Freddie Mac</name>
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        <name>GLS Auto Receivables Trust</name>
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        <name>City of Glendale AZ</name>
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        <name>Bank of America Corp</name>
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        <name>Gracie Point International Funding</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GA GLOBAL FUNDING TRUST</name>
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        <name>CITIGROUP INC</name>
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        <name>MAIN STREET CAPITAL CORP</name>
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        <name>MORGAN STANLEY</name>
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        <name>City of Glendale AZ</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CAPITAL SOUTHWEST CORP</name>
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        <name>LABORATORY CORP OF AMER</name>
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        <name>Credito Real USA Auto Receivables Trust</name>
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        <name>CHENIERE CORP CHRISTI HD</name>
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        <name>BAYLOR SCOTT &amp; WHITE HOL</name>
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        <name>Credit Acceptance Auto Loan Trust</name>
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        <name>ANTARES HOLDINGS</name>
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        <title>Antares Holdings LP</title>
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        <name>SECURITY BENEFIT GL FUND</name>
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        <title>Security Benefit Global Funding</title>
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        <name>SOUTHERN CAL EDISON</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co</title>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1899036.14000000</valUSD>
        <pctVal>0.358729488737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NATIONWIDE BLDG SOCIETY</name>
        <lei>549300XFX12G42QIKN82</lei>
        <title>Nationwide Building Society</title>
        <cusip>63861VAF4</cusip>
        <identifiers>
          <isin value="US63861VAF40"/>
        </identifiers>
        <balance>1500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1426980.53000000</valUSD>
        <pctVal>0.269557795759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.97000000</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>GOLDMAN SACHS GROUP INC</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>Goldman Sachs Group Inc/The</title>
        <cusip>38141GZK3</cusip>
        <identifiers>
          <isin value="US38141GZK39"/>
        </identifiers>
        <balance>930000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>889197.94000000</valUSD>
        <pctVal>0.167970222200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.64000000</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>AVOLON HOLDINGS FNDG LTD</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd</title>
        <cusip>05401AAK7</cusip>
        <identifiers>
          <isin value="US05401AAK79"/>
        </identifiers>
        <balance>1850000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1909304.43000000</valUSD>
        <pctVal>0.360669177164</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</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>GLS Auto Receivables Trust</name>
        <lei>N/A</lei>
        <title>GLS Auto Receivables Issuer Trust 2020-2</title>
        <cusip>38014RAA2</cusip>
        <identifiers>
          <isin value="US38014RAA23"/>
        </identifiers>
        <balance>353341.26000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>353444.26000000</valUSD>
        <pctVal>0.066765911409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.58000000</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>MAGALLANES INC</name>
        <lei>549300DXR29GD4N0A520</lei>
        <title>Magallanes Inc</title>
        <cusip>55903VAG8</cusip>
        <identifiers>
          <isin value="US55903VAG86"/>
        </identifiers>
        <balance>1355000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1352533.55000000</valUSD>
        <pctVal>0.255494700007</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.76000000</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>AIRCASTLE LTD</name>
        <lei>549300PNK8AKY3OIKP58</lei>
        <title>Aircastle Ltd</title>
        <cusip>00928QAT8</cusip>
        <identifiers>
          <isin value="US00928QAT85"/>
        </identifiers>
        <balance>1243000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1266276.09000000</valUSD>
        <pctVal>0.239200594869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>United Auto Credit Securitization Trust</name>
        <lei>N/A</lei>
        <title>United Auto Credit Securitization Trust</title>
        <cusip>90943UAA2</cusip>
        <identifiers>
          <isin value="US90943UAA25"/>
        </identifiers>
        <balance>181224.79000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>181110.00000000</valUSD>
        <pctVal>0.034211827956</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.34000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2022-04-29</ncom:dateSigned>
      <ncom:nameOfApplicant>HOMESTEAD FUNDS INC</ncom:nameOfApplicant>
      <ncom:signature>Amy DiMauro</ncom:signature>
      <ncom:signerName>Amy DiMauro</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
