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        <name>ING Groep NV</name>
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        <name>M&amp;T Bank Corp</name>
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        <name>Nippon Life Insurance Co</name>
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        <name>Public Storage</name>
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        <name>Enterprise Products Operating LLC</name>
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        <name>Liberty Mutual Group Inc</name>
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        <name>Dominion Energy Inc</name>
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        <name>Credit Agricole SA</name>
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        <name>BNP Paribas SA</name>
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        <name>NatWest Group PLC</name>
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        <name>Goldman Sachs Group Inc/The</name>
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        <name>EUSHI Finance Inc</name>
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      <invstOrSec>
        <name>Voya Financial Inc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Standard Chartered PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sempra</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2077-08-16</maturityDt>
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      <invstOrSec>
        <name>Nordea Bank Abp</name>
        <lei>529900ODI3047E2LIV03</lei>
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          <isin value="US65558RAQ20"/>
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        <invCountry>FI</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>Standard Chartered PLC</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>Standard Chartered PLC</title>
        <cusip>853254AC4</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.01000000</annualizedRt>
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      <invstOrSec>
        <name>Standard Chartered PLC</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>Standard Chartered PLC</title>
        <cusip>853254AB6</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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          <annualizedRt>7.01000000</annualizedRt>
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      <invstOrSec>
        <name>Deutsche Bank AG</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
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          <isin value="XS1071551474"/>
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        <balance>7000000.00000000</balance>
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        <valUSD>7428036.00000000</valUSD>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.13000000</annualizedRt>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
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        <valUSD>4712025.60000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup Inc</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Entergy Corp</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>Entergy Corp</title>
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          <isin value="US29364GAS21"/>
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        <balance>400000.00000000</balance>
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        <valUSD>399426.84000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>Assurant Inc</name>
        <lei>H3F39CAXWQRVWURFXL38</lei>
        <title>Assurant Inc</title>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
        <cusip>404280BL2</cusip>
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          <isin value="US404280BL25"/>
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        <balance>3000000.00000000</balance>
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        <valUSD>3012717.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>Bank of Montreal</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
        <title>Bank of Montreal</title>
        <cusip>06368L5Q5</cusip>
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          <isin value="US06368L5Q57"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2623430.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2084-11-26</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.30000000</annualizedRt>
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      <invstOrSec>
        <name>Nomura Holdings Inc</name>
        <lei>549300B3CEAHYG7K8164</lei>
        <title>Nomura Holdings Inc</title>
        <cusip>65535HCC1</cusip>
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        <balance>600000.00000000</balance>
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        <valUSD>618558.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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      <invstOrSec>
        <name>Royal Bank of Canada</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>Royal Bank of Canada</title>
        <cusip>780082AT0</cusip>
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          <isin value="US780082AT05"/>
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        <balance>7000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6757515.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2084-11-24</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.35000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
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        <name>Zurich Finance Ireland Designated Activity Co</name>
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        <name>JPMorgan Chase &amp; Co</name>
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        <name>Southern Co/The</name>
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        <name>Huntington Capital II</name>
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        <name>BlackRock Liquidity FedFund - Institutional Class</name>
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        <name>Wintrust Financial Corp</name>
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        <name>Emera US Finance LLC</name>
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        <name>Rexford Industrial Realty Inc</name>
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        <name>UBS Group AG</name>
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        <name>Bank of America Corp</name>
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        <name>Energy Transfer LP</name>
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        <name>Sumitomo Life Insurance Co</name>
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        <name>UBS Group AG</name>
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        <name>Dai-ichi Life Insurance Co Ltd</name>
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        <name>US Bancorp</name>
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        <name>Banco Santander SA</name>
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        <name>EUSHI Finance Inc</name>
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        <name>Bank of Montreal</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>Regions Financial Corp</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>State Street Corp</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>Cullen/Frost Bankers Inc</name>
        <lei>529900V2E9G9AY665O34</lei>
        <title>Cullen/Frost Bankers Inc</title>
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        <balance>57739.00000000</balance>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>Energy Transfer LP</title>
        <cusip>29273VBG4</cusip>
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        <balance>2600000.00000000</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>2056-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Meiji Yasuda Life Insurance Co</name>
        <lei>549300SLU4LP6YMRLK07</lei>
        <title>Meiji Yasuda Life Insurance Co</title>
        <cusip>585270AE1</cusip>
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          <isin value="US585270AE15"/>
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        <balance>4650000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-06-11</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AltaGas Ltd</name>
        <lei>2549008X5V70MOS4HM10</lei>
        <title>AltaGas Ltd</title>
        <cusip>021361AD2</cusip>
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          <isin value="US021361AD20"/>
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        <balance>1500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1563118.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-10-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.20000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup Inc</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
        <cusip>17327CBC6</cusip>
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          <isin value="US17327CBC64"/>
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        <balance>11000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11219615.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.88000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>American Electric Power Co Inc</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>American Electric Power Co Inc</title>
        <cusip>02557TAE9</cusip>
        <identifiers>
          <isin value="US02557TAE91"/>
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        <balance>2700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2691665.64000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>Citizens Financial Group Inc</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group Inc</title>
        <cusip>174610BD6</cusip>
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          <isin value="US174610BD66"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2480915.00000000</valUSD>
        <pctVal>0.280221309606</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
        <cusip>404280BP3</cusip>
        <identifiers>
          <isin value="US404280BP39"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>505248.00000000</valUSD>
        <pctVal>0.057068160834</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA</title>
        <cusip>05964HBH7</cusip>
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          <isin value="US05964HBH75"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1072689.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup Inc</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup Inc</title>
        <cusip>172967QJ3</cusip>
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          <isin value="US172967QJ33"/>
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        <balance>2000000.00000000</balance>
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        <valUSD>2030348.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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          <annualizedRt>6.63000000</annualizedRt>
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      <invstOrSec>
        <name>Meiji Yasuda Life Insurance Co</name>
        <lei>549300SLU4LP6YMRLK07</lei>
        <title>Meiji Yasuda Life Insurance Co</title>
        <cusip>585270AD3</cusip>
        <identifiers>
          <isin value="US585270AD32"/>
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        <balance>3600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3600140.98000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-11</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.80000000</annualizedRt>
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      <invstOrSec>
        <name>Corebridge Financial Inc</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>Corebridge Financial Inc</title>
        <cusip>21871XAU3</cusip>
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          <isin value="US21871XAU37"/>
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        <balance>4270000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4383458.17000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
          <annualizedRt>6.88000000</annualizedRt>
          <isDefault>N</isDefault>
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        <name>CoBank ACB</name>
        <lei>P0J8I7M2E0A77CKF1705</lei>
        <title>CoBank ACB</title>
        <cusip>19075QAD4</cusip>
        <identifiers>
          <isin value="US19075QAD43"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1972120.00000000</valUSD>
        <pctVal>0.222752512319</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>CoBank ACB</name>
        <lei>P0J8I7M2E0A77CKF1705</lei>
        <title>CoBank ACB</title>
        <cusip>19075QAE2</cusip>
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          <isin value="US19075QAE26"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5024450.00000000</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.45000000</annualizedRt>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
        <cusip>404280DT3</cusip>
        <identifiers>
          <isin value="US404280DT33"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5184545.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Standard Chartered PLC</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>Standard Chartered PLC</title>
        <cusip>853254DA5</cusip>
        <identifiers>
          <isin value="US853254DA59"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1054221.00000000</valUSD>
        <pctVal>0.119075094968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.88000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Swiss RE Subordinated Finance PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-04-01</maturityDt>
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        <name>Swedbank AB</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Prudential Financial Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Phillips 66 Co</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-03-15</maturityDt>
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      <invstOrSec>
        <name>Societe Generale SA</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <name>Goldman Sachs Group Inc/The</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Algonquin Power &amp; Utilities Corp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Truist Financial Corp</name>
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        <name>Nippon Life Insurance Co</name>
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        <invCountry>JP</invCountry>
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        <lei>CFGNEKW0P8842LEUIA51</lei>
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        <name>Transcanada Trust</name>
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        <name>UBS Group AG</name>
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        <name>Affiliated Managers Group Inc</name>
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        <name>UBS Group AG</name>
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      <invstOrSec>
        <name>MetLife Inc</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>MetLife Inc</title>
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        <invCountry>US</invCountry>
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        <name>NiSource Inc</name>
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        <name>Goldman Sachs Group Inc/The</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>American Electric Power Co Inc</name>
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        <title>American Electric Power Co Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BP Capital Markets PLC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <name>PNC Financial Services Group Inc/The</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Citizens Financial Group Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Farm Credit Bank of Texas</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup Inc</name>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <name>Transcanada Trust</name>
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        <name>Swiss RE Subordinated Finance PLC</name>
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        <name>TELUS Corp</name>
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        <name>Alliant Energy Corp</name>
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        <name>Societe Generale SA</name>
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        <name>Bank of New York Mellon Corp/The</name>
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        <name>Royal Bank of Canada</name>
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        <name>Bank of Nova Scotia/The</name>
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        <name>PNC Financial Services Group Inc/The</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
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        <name>Citigroup Inc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Electric Power Co Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Evergy Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Barclays PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BNP Paribas SA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KeyCorp Capital I</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Bank of America Corp</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Enbridge Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Principal Funds, Inc - Government Money Market Fund - Class R-6</name>
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        <name>Verizon Communications Inc</name>
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        <name>Canadian Imperial Bank of Commerce</name>
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        <name>Corebridge Financial Inc</name>
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        <name>ING Groep NV</name>
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        <name>Corebridge Financial Inc</name>
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        <name>Verizon Communications Inc</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
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        <name>Bank of Nova Scotia/The</name>
        <lei>L3I9ZG2KFGXZ61BMYR72</lei>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Dominion Energy Inc</name>
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      <invstOrSec>
        <name>Prudential Financial Inc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Wells Fargo &amp; Co</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TELUS Corp</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-06-09</maturityDt>
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      <invstOrSec>
        <name>Corebridge Financial Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>Equitable Holdings Inc</name>
        <lei>549300FIBAKMNHPZ4009</lei>
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        <balance>1600000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-03-28</maturityDt>
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        <name>JPMorgan Chase &amp; Co</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>Electricite de France SA</name>
        <lei>549300X3UK4GG3FNMO06</lei>
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        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <name>Wells Fargo &amp; Co</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Liberty Mutual Insurance Co</name>
        <lei>CNC20I6IOMGF7KY49D67</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Huntington Bancshares Inc/OH</name>
        <lei>549300XTVCVV9I7B5T19</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>US Bancorp</name>
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        <name>Nippon Life Insurance Co</name>
        <lei>549300Y0HHMFW3EVWY08</lei>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Sempra</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-04-01</maturityDt>
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        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <name>TransCanada PipeLines Ltd</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
        <title>TransCanada PipeLines Ltd</title>
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        <balance>1000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-10-17</maturityDt>
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      <invstOrSec>
        <name>Sumitomo Life Insurance Co</name>
        <lei>549300I5OQCDADQSPI57</lei>
        <title>Sumitomo Life Insurance Co</title>
        <cusip>86564CAC4</cusip>
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        <balance>5000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2081-04-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.38000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American Electric Power Co Inc</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Voya Financial Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Banco Bilbao Vizcaya Argentaria SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>KeyCorp Capital III</name>
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        <name>BNP Paribas SA</name>
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        <name>Charles Schwab Corp/The</name>
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        <name>Public Storage</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Enbridge Inc</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Barclays PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>State Street Corp</name>
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        <name>Lloyds Banking Group PLC</name>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MetLife Capital Trust IV</name>
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        <name>Bank of New York Mellon Corp/The</name>
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        <name>Banco Bilbao Vizcaya Argentaria SA</name>
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        <name>Truist Financial Corp</name>
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        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <name>Toronto-Dominion Bank/The</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank/The</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ACE Capital Trust II</name>
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        <title>ACE Capital Trust II</title>
        <cusip>00440FAA2</cusip>
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        <balance>2570000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MetLife Inc</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Affiliated Managers Group Inc</name>
        <lei>2JE75BUE3T1BLCYYGK54</lei>
        <title>Affiliated Managers Group Inc</title>
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          <isin value="US0082528508"/>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bank of Montreal</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
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          <isin value="US06368LQ586"/>
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        <valUSD>8198234.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2084-05-26</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>7.70000000</annualizedRt>
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      <invstOrSec>
        <name>State Street Corp</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
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          <isin value="US857477CH48"/>
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        <balance>6900000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7094462.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.70000000</annualizedRt>
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      <invstOrSec>
        <name>Barclays PLC</name>
        <lei>213800LBQA1Y9L22JB70</lei>
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          <isin value="US06738EBX22"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1259401.20000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
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          <isin value="US902613BE74"/>
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        <balance>12000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13854576.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
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      <invstOrSec>
        <name>Lloyds Banking Group PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group PLC</title>
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          <isin value="US539439BF59"/>
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        <balance>2500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2456488.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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          <annualizedRt>6.63000000</annualizedRt>
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      <invstOrSec>
        <name>Invesco Preferred ETF</name>
        <lei>549300J11Q08WEERN210</lei>
        <title>Invesco Preferred ETF</title>
        <cusip>46138E511</cusip>
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          <isin value="US46138E5116"/>
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        <balance>123647.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1361353.47000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Standard Chartered PLC</name>
        <lei>U4LOSYZ7YG4W3S5F2G91</lei>
        <title>Standard Chartered PLC</title>
        <cusip>N/A</cusip>
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          <isin value="USG84228EP90"/>
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        <balance>12500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11759685.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Enbridge Inc</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge Inc</title>
        <cusip>29250NBT1</cusip>
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          <isin value="US29250NBT19"/>
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        <balance>4650000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5318098.05000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2084-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.50000000</annualizedRt>
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      <invstOrSec>
        <name>Lloyds Banking Group PLC</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>Lloyds Banking Group PLC</title>
        <cusip>53944YAV5</cusip>
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          <isin value="US53944YAV56"/>
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        <balance>2000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2129408.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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      <invstOrSec>
        <name>Reinsurance Group of America Inc</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America Inc</title>
        <cusip>759351AT6</cusip>
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          <isin value="US759351AT60"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>403726.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.65000000</annualizedRt>
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      <invstOrSec>
        <name>NextEra Energy Capital Holdings Inc</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings Inc</title>
        <cusip>65339KCW8</cusip>
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          <isin value="US65339KCW80"/>
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        <balance>2700000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-09-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.70000000</annualizedRt>
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      <invstOrSec>
        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA</title>
        <cusip>05971KAQ2</cusip>
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        <balance>5000000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.63000000</annualizedRt>
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      <invstOrSec>
        <name>Enbridge Inc</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge Inc</title>
        <cusip>29250NBC8</cusip>
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          <isin value="US29250NBC83"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5044055.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2080-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="USF1067PAD80"/>
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        <balance>1400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1469462.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>Bank of Nova Scotia/The</name>
        <lei>L3I9ZG2KFGXZ61BMYR72</lei>
        <title>Bank of Nova Scotia/The</title>
        <cusip>06419GEE2</cusip>
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          <isin value="US06419GEE26"/>
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        <balance>23600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23833828.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2085-10-27</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.88000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen</name>
        <lei>529900MUF4C20K50JS49</lei>
        <title>Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen</title>
        <cusip>62582PAA8</cusip>
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          <isin value="US62582PAA84"/>
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        <balance>3600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3691497.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.88000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <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</title>
        <cusip>48128BAR2</cusip>
        <identifiers>
          <isin value="US48128BAR24"/>
        </identifiers>
        <balance>4800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4838192.26000000</valUSD>
        <pctVal>0.546477638783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.10000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Dairy Farmers of America Inc</name>
        <lei>1LTUIZEFFT7MUIERI838</lei>
        <title>Dairy Farmers of America Inc</title>
        <cusip>23385HAA7</cusip>
        <identifiers>
          <isin value="US23385HAA77"/>
        </identifiers>
        <balance>7000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6992930.00000000</valUSD>
        <pctVal>0.789856969136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.13000000</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>Huntington Bancshares Inc/OH</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>Huntington Bancshares Inc/OH</title>
        <cusip>446150AV6</cusip>
        <identifiers>
          <isin value="US446150AV63"/>
        </identifiers>
        <balance>14810000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14623756.85000000</valUSD>
        <pctVal>1.651764891529</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.45000000</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>Electricite de France SA</name>
        <lei>549300X3UK4GG3FNMO06</lei>
        <title>Electricite de France SA</title>
        <cusip>28504KAA5</cusip>
        <identifiers>
          <isin value="US28504KAA51"/>
        </identifiers>
        <balance>2000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2316350.00000000</valUSD>
        <pctVal>0.261633562821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.13000000</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="Not applicable for derivative asset types" noteItem="C.5.a"/>
      <explntrNote note="Cash and cash equivalents includes USD and only foreign currencies considered highly liquid." noteItem="B.2.f"/>
      <explntrNote note="Returns shown in Item B.5.a have been calculated without deducting any applicable sales loads or redemption fees" noteItem="B.5.a"/>
      <explntrNote note="It is a policy to obtain additional collateral from, or return excess collateral to, the borrower by the end of the next business day following the valuation date of the securities loaned. Therefore, the value of the collateral held may be temporarily less than that required under the lending contract." noteItem="C.12.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-06-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Principal Funds, Inc</ncom:nameOfApplicant>
      <ncom:signature>Megan Hoffmann</ncom:signature>
      <ncom:signerName>/s/ Megan Hoffmann</ncom:signerName>
      <ncom:title>Vice President and Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
