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        <name>The TJX Companies Inc.</name>
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        <name>BlackRock Taxable Municipal Bond Trust</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Stryker Corporation</name>
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        <name>United States Treasury Notes</name>
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        <name>TEXAS ST DEPT HSG &amp; CMNTY AFFAIRS</name>
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        <name>General Dynamics Corporation</name>
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        <name>Evergy Missouri West Storm Funding I LLC</name>
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        <name>Fifth Third Bank National Association Cincinnati Ohio</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>IDAHO HSG &amp; FIN ASSN</name>
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        <name>JP MORGAN MORTGAGE TRUST 2024-1</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Honeywell International Inc.</name>
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        <name>PINNACLE FINANCIAL PARTNERS INC</name>
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        <name>IDAHO HSG &amp; FIN ASSN</name>
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        <name>Fidelity Colchester Street Trust</name>
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      <invstOrSec>
        <name>Salesforce Inc.</name>
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        <name>Pepsico Inc</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>NEBRASKA INVT FIN AUTH</name>
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        <name>DTE Electric Securitization Funding II LLC</name>
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        <name>Siemens AG</name>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>NEW RESIDENTIAL MORTGAGE LOAN TRUST 2018-3</name>
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        <title>NRZT 2018-3A A1</title>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>NextEra Energy Inc</name>
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        <name>Eli Lilly &amp; Co.</name>
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        <name>Goldman Sachs Group, Inc.</name>
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        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 AO0573</title>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>Northrop Grumman Corporation</name>
        <lei>RIMU48P07456QXSO0R61</lei>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>First Citizens BancShares Inc (Delaware)</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>FCNCA V6.254 03/12/40</title>
        <cusip>31959XAF0</cusip>
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        <name>Western Alliance Bank</name>
        <lei>SI7YQSVPFZBSQ878IC17</lei>
        <title>WAL V6.537 11/15/35</title>
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        <name>Putnam Premier Income Trust</name>
        <lei>G5048SOHSFOQHNEL1E85</lei>
        <title>Putnam Premier Income Trust SH BEN INT</title>
        <cusip>746853100</cusip>
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          <ticker value="PPT"/>
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        <balance>77203.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <name>Entergy Louisiana LLC</name>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Microsoft Corp.</name>
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        <name>United States Treasury Notes</name>
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        <name>AbbVie Inc.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Apple Inc.</name>
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        <name>Nuveen Multi-Market Income Fund</name>
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        <name>United States Treasury Notes</name>
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        <name>PUBLIC FIN AUTH WIS</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>Charles Stark Draper Laboratory Inc. (The)</name>
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        <name>Union Electric Company</name>
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        <name>DWS MUNICIPAL INCOME TRUST</name>
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        <name>Cheniere Energy Inc</name>
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        <name>Entergy Corporation</name>
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        <name>Small Business Administration</name>
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        <name>Government National Mortgage Association</name>
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        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>Williams Companies Inc. (The)</name>
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        <name>JP MORGAN MORTGAGE TRUST 2021-6</name>
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        <name>The Sherwin-Williams Company</name>
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        <name>Putnam Master Int</name>
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        <name>JP MORGAN MORTGAGE TRUST 2024-2</name>
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        <name>SEQUOIA MORTGAGE TRUST 2020-4</name>
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        <name>Duke Energy Progress SC Storm Funding LLC</name>
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        <name>Morgan Stanley</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>DOWNTOWN DALLAS DEVELOPMENT AUTHORITY (TX)</name>
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        <name>Nuveen Taxable Municipal Income Fd</name>
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        <name>SOUTHSTATE BANK CORP</name>
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        <name>FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD</name>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION</name>
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        <name>United States Treasury Bonds</name>
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        <name>Assurant Inc.</name>
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        <name>Federal National Mortgage Association</name>
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        <name>JP MORGAN MORTGAGE TRUST 2024-4</name>
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        <title>JPMMT 2024-4 A8A</title>
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        <name>CENTERPOINT ENERGY RESOURCES CORP</name>
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        <name>Take-Two Interactive Software Inc.</name>
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        <name>United States Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>Federal National Mortgage Association</name>
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        <name>DOUBLELINE OPPORTUNISTIC CREDIT FUND</name>
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        <name>First Trust Mortgage Income Fund</name>
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        <name>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>WASTE CONNECTIONS INC</name>
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        <name>Alphabet Inc.</name>
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        <name>Vertiv Holdings Co</name>
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        <name>Federal National Mortgage Association</name>
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          <couponKind>Fixed</couponKind>
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        <name>Government National Mortgage Association</name>
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        <name>Intuitive Surgical Inc.</name>
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        <name>NEW YORK N Y</name>
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        <name>Equifax Inc.</name>
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        <name>Halliburton Company</name>
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        <name>Exelon Corp.</name>
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        <name>United States Treasury Bonds</name>
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        <name>FEDERAL HOME LN MTG CORP MULTICLASS MTG PARTN CTFS GTD</name>
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        <title>FHR 5280 A</title>
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        <name>CHASE HOME LENDING MORTGAGE TRUST 2023-1</name>
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        <name>Regions Financial Corporation</name>
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        <name>Alphabet Inc.</name>
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        <name>CVS Health Corp</name>
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        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNR 2005-74 HA</title>
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        <name>Texas Childrens Hospital</name>
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        <name>Government National Mortgage Association</name>
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        <name>Federal National Mortgage Association</name>
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        <name>Government National Mortgage Association</name>
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        <name>Blackrock Core Bond Trust</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hancock John Income Securities Trust</name>
        <lei>549300RB36J7QSFLWG11</lei>
        <title>Hancock John Income Securities Trust COM</title>
        <cusip>410123103</cusip>
        <identifiers>
          <isin value="US4101231037"/>
          <ticker value="JHS"/>
        </identifiers>
        <balance>5900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>64546.00000000</valUSD>
        <pctVal>0.089536231455</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wynnton Funding Trust</name>
        <lei>N/A</lei>
        <title>AFL 5.251 08/15/35</title>
        <cusip>983196AA4</cusip>
        <identifiers>
          <isin value="US983196AA41"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>246437.90000000</valUSD>
        <pctVal>0.341851096177</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25100000</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>OAK CREEK WIS</name>
        <lei>549300FLUIG6KPZ61B39</lei>
        <title>WI OAK 2.4 10/01/2029</title>
        <cusip>671137D95</cusip>
        <identifiers>
          <isin value="US671137D959"/>
        </identifiers>
        <balance>295000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>283390.57000000</valUSD>
        <pctVal>0.393110706595</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Government National Mortgage Association</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>G2 2809</title>
        <cusip>36202DDN8</cusip>
        <identifiers>
          <isin value="US36202DDN84"/>
        </identifiers>
        <balance>5803.89000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5975.96000000</valUSD>
        <pctVal>0.008289668418</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</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>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHR 4293 BA</title>
        <cusip>3137B7FP9</cusip>
        <identifiers>
          <isin value="US3137B7FP90"/>
        </identifiers>
        <balance>4968.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5063.54000000</valUSD>
        <pctVal>0.007023987379</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.15288500</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>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>Amazon.com, Inc. COM</title>
        <cusip>023135106</cusip>
        <identifiers>
          <isin value="US0231351067"/>
          <ticker value="AMZN"/>
        </identifiers>
        <balance>9700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2020219.00000000</valUSD>
        <pctVal>2.802385832977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Union Pacific Corporation</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corporation COM</title>
        <cusip>907818108</cusip>
        <identifiers>
          <isin value="US9078181081"/>
          <ticker value="UNP"/>
        </identifiers>
        <balance>2050.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>497371.00000000</valUSD>
        <pctVal>0.689937795919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Boston Scientific Corporation</name>
        <lei>Y6ZDD9FP4P8JSSJMW954</lei>
        <title>Boston Scientific Corporation COM</title>
        <cusip>101137107</cusip>
        <identifiers>
          <isin value="US1011371077"/>
          <ticker value="BSX"/>
        </identifiers>
        <balance>2575.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>161581.25000000</valUSD>
        <pctVal>0.224140554006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY FLORIDA PROJECT FINANCE LLC</name>
        <lei>N/A</lei>
        <title>DUK 2.858 03/01/33 2032</title>
        <cusip>26444GAD5</cusip>
        <identifiers>
          <isin value="US26444GAD51"/>
        </identifiers>
        <balance>120000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>109852.47000000</valUSD>
        <pctVal>0.152383977007</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.85800000</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>Abbott Laboratories</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>Abbott Laboratories COM</title>
        <cusip>002824100</cusip>
        <identifiers>
          <isin value="US0028241000"/>
          <ticker value="ABT"/>
        </identifiers>
        <balance>2450.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>251541.50000000</valUSD>
        <pctVal>0.348930653560</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DALLAS CNTY TEX HOSP DIST</name>
        <lei>UQCNU7AEWLMSSOK7VW91</lei>
        <title>TX DALMED 5.62 08/15/2044</title>
        <cusip>234667JL8</cusip>
        <identifiers>
          <isin value="US234667JL88"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>195994.82000000</valUSD>
        <pctVal>0.271878002783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62100000</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>Parker-Hannifin Corp.</name>
        <lei>5493002CONDB4N2HKI23</lei>
        <title>Parker-Hannifin Corp. COM</title>
        <cusip>701094104</cusip>
        <identifiers>
          <isin value="US7010941042"/>
          <ticker value="PH"/>
        </identifiers>
        <balance>625.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>559525.00000000</valUSD>
        <pctVal>0.776155918341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Axon Enterprise Inc</name>
        <lei>549300QP2IEEGFE16681</lei>
        <title>Axon Enterprise Inc COM</title>
        <cusip>05464C101</cusip>
        <identifiers>
          <isin value="US05464C1018"/>
          <ticker value="AXON"/>
        </identifiers>
        <balance>405.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>171999.45000000</valUSD>
        <pctVal>0.238592361501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEQUOIA MORTGAGE TRUST 2025-1</name>
        <lei>N/A</lei>
        <title>SEMT 2025-1 A4</title>
        <cusip>81743EAD3</cusip>
        <identifiers>
          <isin value="US81743EAD31"/>
        </identifiers>
        <balance>143549.95000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>144122.04000000</valUSD>
        <pctVal>0.199921673400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.00000000</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>Broadcom Inc</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom Inc COM</title>
        <cusip>11135F101</cusip>
        <identifiers>
          <isin value="US11135F1012"/>
          <ticker value="AVGO"/>
        </identifiers>
        <balance>10850.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3358183.50000000</valUSD>
        <pctVal>4.658369149551</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UnitedHealth Group Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group Inc. COM</title>
        <cusip>91324P102</cusip>
        <identifiers>
          <isin value="US91324P1021"/>
          <ticker value="UNH"/>
        </identifiers>
        <balance>1900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>514121.00000000</valUSD>
        <pctVal>0.713172882165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FHR 3704 CT</title>
        <cusip>3137A0XM2</cusip>
        <identifiers>
          <isin value="US3137A0XM25"/>
        </identifiers>
        <balance>4968.10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5270.76000000</valUSD>
        <pctVal>0.007311436608</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</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>Shell PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>Shell PLC SPON ADS</title>
        <cusip>780259305</cusip>
        <identifiers>
          <isin value="US7802593050"/>
          <ticker value="SHEL"/>
        </identifiers>
        <balance>2400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>223200.00000000</valUSD>
        <pctVal>0.309616194046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <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>2026-05-21</ncom:dateSigned>
      <ncom:nameOfApplicant>SIT MUTUAL FUNDS INC</ncom:nameOfApplicant>
      <ncom:signature>Paul Rasmussen</ncom:signature>
      <ncom:signerName>Paul Rasmussen</ncom:signerName>
      <ncom:title>VP, Treasurer &amp; Chief Compliance Officer </ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
