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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>KKR &amp; CO. INC.</name>
        <lei>549300JOHU21WRN2Z451</lei>
        <title>KKR &amp; CO INC COMMON STOCK</title>
        <cusip>48251W104</cusip>
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          <isin value="US48251W1045"/>
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        <curCd>USD</curCd>
        <valUSD>8524690.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>3M COMPANY</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
        <title>3M CO COMMON STOCK</title>
        <cusip>88579Y101</cusip>
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          <isin value="US88579Y1010"/>
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        <curCd>USD</curCd>
        <valUSD>7147200.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BAXTER INTERNATIONAL INC.</name>
        <lei>J5OIVXX3P24RJRW5CK77</lei>
        <title>BAXTER INTERNATIONAL INC COMMON STOCK</title>
        <cusip>071813109</cusip>
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          <isin value="US0718131099"/>
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        <curCd>USD</curCd>
        <valUSD>6948480.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UBER TECHNOLOGIES, INC.</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>UBER TECHNOLOGIES INC COMMON STOCK</title>
        <cusip>90353T100</cusip>
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          <isin value="US90353T1007"/>
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        <curCd>USD</curCd>
        <valUSD>11831400.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>THE CHARLES SCHWAB CORPORATION</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>SCHWAB (CHARLES) CORP COMMON STOCK</title>
        <cusip>808513105</cusip>
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          <isin value="US8085131055"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8203000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Chubb Limited</name>
        <lei>E0JAN6VLUDI1HITHT809</lei>
        <title>CHUBB LTD COMMON STOCK</title>
        <cusip>H1467J104</cusip>
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          <isin value="CH0044328745"/>
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        <balance>63000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PENN NATIONAL GAMING, INC.</name>
        <lei>N/A</lei>
        <title>PENN NATIONAL GAMING INC COMMON STOCK</title>
        <cusip>707569109</cusip>
        <identifiers>
          <isin value="US7075691094"/>
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        <balance>80000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5728000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>APPLIED MATERIALS, INC.</name>
        <lei>41BNNE1AFPNAZELZ6K07</lei>
        <title>APPLIED MATERIALS INC COMMON STOCK</title>
        <cusip>038222105</cusip>
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          <isin value="US0382221051"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10795350.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMAZON.COM, INC.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON.COM INC COMMON STOCK</title>
        <cusip>023135106</cusip>
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          <isin value="US0231351067"/>
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        <balance>3200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10791776.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>THE GAP, INC.</name>
        <lei>T2ZG1WRWZ4BUCMQL9224</lei>
        <title>GAP INC/THE COMMON STOCK</title>
        <cusip>364760108</cusip>
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          <isin value="US3647601083"/>
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        <balance>280000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6353200.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>First American Funds, Inc: Government Obligations Fund; Class X Shares</name>
        <lei>N/A</lei>
        <title>FIRST AMERICAN TREASURY OBLIGATIONS FUND CLASS X</title>
        <cusip>31846V336</cusip>
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          <isin value="US31846V3362"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1688498.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>THE TJX COMPANIES, INC.</name>
        <lei>V167QI9I69W364E2DY52</lei>
        <title>TJX COMPANIES INC COMMON STOCK</title>
        <cusip>872540109</cusip>
        <identifiers>
          <isin value="US8725401090"/>
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        <balance>110000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7203900.00000000</valUSD>
        <pctVal>2.015848454027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MASTERCARD INCORPORATED.</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>MASTERCARD INC - A COMMON STOCK</title>
        <cusip>57636Q104</cusip>
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          <isin value="US57636Q1040"/>
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        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8388000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>U.S. BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP COMMON STOCK</title>
        <cusip>902973304</cusip>
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          <isin value="US9029733048"/>
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        <balance>190000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11470300.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>L3HARRIS TECHNOLOGIES, INC.</name>
        <lei>549300UTE50ZMDBG8A20</lei>
        <title>L3HARRIS TECHNOLOGIES INC COMMON STOCK</title>
        <cusip>502431109</cusip>
        <identifiers>
          <isin value="US5024311095"/>
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        <balance>47000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10835380.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALPHABET INC.</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC-CL A COMMON STOCK</title>
        <cusip>02079K305</cusip>
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          <isin value="US02079K3059"/>
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        <balance>4500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13324140.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BIOGEN INC.</name>
        <lei>W8J5WZB5IY3K0NDQT671</lei>
        <title>BIOGEN INC COMMON STOCK</title>
        <cusip>09062X103</cusip>
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          <isin value="US09062X1037"/>
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        <balance>36000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9600480.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNION PACIFIC CORPORATION</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>UNION PACIFIC CORP COMMON STOCK</title>
        <cusip>907818108</cusip>
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          <isin value="US9078181081"/>
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        <balance>47000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11345800.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WELLTOWER INC</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>WELLTOWER INC REIT</title>
        <cusip>95040Q104</cusip>
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          <isin value="US95040Q1040"/>
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        <balance>85000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6834000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED PARCEL SERVICE, INC.</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>UNITED PARCEL SERVICE-CL B COMMON STOCK</title>
        <cusip>911312106</cusip>
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          <isin value="US9113121068"/>
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        <balance>57000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12167790.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PRINCIPAL FINANCIAL GROUP, INC.</name>
        <lei>CUMYEZJOAF02RYZ1JJ85</lei>
        <title>PRINCIPAL FINANCIAL GROUP COMMON STOCK</title>
        <cusip>74251V102</cusip>
        <identifiers>
          <isin value="US74251V1026"/>
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        <balance>162000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10868580.00000000</valUSD>
        <pctVal>3.041326252513</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SYSCO CORPORATION</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>SYSCO CORP COMMON STOCK</title>
        <cusip>871829107</cusip>
        <identifiers>
          <isin value="US8718291078"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7690000.00000000</valUSD>
        <pctVal>2.151872542855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CORTEVA, INC.</name>
        <lei>549300WZN9I2QKLS0O94</lei>
        <title>CORTEVA INC COMMON STOCK</title>
        <cusip>22052L104</cusip>
        <identifiers>
          <isin value="US22052L1044"/>
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        <balance>245000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10571750.00000000</valUSD>
        <pctVal>2.958265091668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COLGATE-PALMOLIVE COMPANY</name>
        <lei>YMEGZFW4SBUSS5BQXF88</lei>
        <title>COLGATE-PALMOLIVE CO COMMON STOCK</title>
        <cusip>194162103</cusip>
        <identifiers>
          <isin value="US1941621039"/>
        </identifiers>
        <balance>130000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9904700.00000000</valUSD>
        <pctVal>2.771606238649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TE Connectivity Ltd.</name>
        <lei>894500ZRIX9K13RHXR17</lei>
        <title>TE CONNECTIVITY LTD COMMON STOCK</title>
        <cusip>H84989104</cusip>
        <identifiers>
          <isin value="CH0102993182"/>
        </identifiers>
        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7300000.00000000</valUSD>
        <pctVal>2.042739865129</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SKYWORKS SOLUTIONS, INC.</name>
        <lei>549300WZ3ORQ2BVKBD96</lei>
        <title>SKYWORKS SOLUTIONS INC COMMON STOCK</title>
        <cusip>83088M102</cusip>
        <identifiers>
          <isin value="US83088M1027"/>
        </identifiers>
        <balance>45000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7520850.00000000</valUSD>
        <pctVal>2.104539741733</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEMPRA ENERGY</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>SEMPRA ENERGY COMMON STOCK</title>
        <cusip>816851109</cusip>
        <identifiers>
          <isin value="US8168511090"/>
        </identifiers>
        <balance>75000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9572250.00000000</valUSD>
        <pctVal>2.678577626572</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOUTHWEST AIRLINES CO.</name>
        <lei>UDTZ87G0STFETI6HGH41</lei>
        <title>SOUTHWEST AIRLINES CO COMMON STOCK</title>
        <cusip>844741108</cusip>
        <identifiers>
          <isin value="US8447411088"/>
        </identifiers>
        <balance>185000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8746800.00000000</valUSD>
        <pctVal>2.447594116755</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO COMMON STOCK</title>
        <cusip>46625H100</cusip>
        <identifiers>
          <isin value="US46625H1005"/>
        </identifiers>
        <balance>64000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10872960.00000000</valUSD>
        <pctVal>3.042551896432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE GOLDMAN SACHS GROUP, INC.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC COMMON STOCK</title>
        <cusip>38141G104</cusip>
        <identifiers>
          <isin value="US38141G1040"/>
        </identifiers>
        <balance>25000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10333750.00000000</valUSD>
        <pctVal>2.891666175517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEDTRONIC PUBLIC LIMITED COMPANY</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>MEDTRONIC PLC COMMON STOCK</title>
        <cusip>G5960L103</cusip>
        <identifiers>
          <isin value="IE00BTN1Y115"/>
        </identifiers>
        <balance>57000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6832020.00000000</valUSD>
        <pctVal>1.911786248405</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RAYTHEON TECHNOLOGIES CORPORATION</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>RAYTHEON TECHNOLOGIES CORP COMMON STOCK</title>
        <cusip>75513E101</cusip>
        <identifiers>
          <isin value="US75513E1010"/>
        </identifiers>
        <balance>120000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10663200.00000000</valUSD>
        <pctVal>2.983855305458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2021-10-31</ncom:dateSigned>
      <ncom:nameOfApplicant>THE ADVISORS' INNER CIRCLE FUND</ncom:nameOfApplicant>
      <ncom:signature>Andy Metzger</ncom:signature>
      <ncom:signerName>Andy Metzger</ncom:signerName>
      <ncom:title>CFO</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
