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        <name>FANNIE MAE POOL 3.50%</name>
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        <name>FANNIE MAE POOL 2.00%</name>
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        <name>FREDDIE MAC MULTIFAMI VAR</name>
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        <name>ATHENE HLDG. LTD 6.65%</name>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.625%</title>
        <cusip>91282CGS4</cusip>
        <identifiers>
          <isin value="US91282CGS44"/>
          <ticker value="T"/>
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        <balance>1730000</balance>
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        <curCd>USD</curCd>
        <valUSD>1696481.25</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MEXICO GOV. INTL. 6.338%</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEXICO GOV. INTL. 6.338%</title>
        <cusip>91087BAX8</cusip>
        <identifiers>
          <isin value="US91087BAX82"/>
          <ticker value="MEX"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>468000</valUSD>
        <pctVal>0.0155373210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-04</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RENAISSANCERE HLDGS 5.75%</name>
        <lei>EK6GB9U3U58PDI411C94</lei>
        <title>RENAISSANCERE HLDGS 5.75%</title>
        <cusip>75968NAE1</cusip>
        <identifiers>
          <isin value="US75968NAE13"/>
          <ticker value="RNR"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>512747.21</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GLU1</cusip>
        <identifiers>
          <isin value="US06051GLU12"/>
          <ticker value="BAC"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>418082.42</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.872000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICREDIT AUTOMOB 6.00%</name>
        <lei>N/A</lei>
        <title>AMERICREDIT AUTOMOB 6.00%</title>
        <cusip>03065UAF6</cusip>
        <identifiers>
          <isin value="US03065UAF66"/>
          <ticker value="AMCAR"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50836.76</valUSD>
        <pctVal>0.0016877501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>J M SMUCKER CO/THE 6.50%</name>
        <lei>5493000WDH6A0LHDJD55</lei>
        <title>J M SMUCKER CO/THE 6.50%</title>
        <cusip>832696AZ1</cusip>
        <identifiers>
          <isin value="US832696AZ12"/>
          <ticker value="SJM"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>109029.91</valUSD>
        <pctVal>0.0036197280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WELLS FARGO &amp; CO F2F</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO F2F</title>
        <cusip>95000U3J0</cusip>
        <identifiers>
          <isin value="US95000U3J01"/>
          <ticker value="WFC"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>505619.76</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.198000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3140XNLR3</cusip>
        <identifiers>
          <isin value="US3140XNLR39"/>
          <ticker value="FNMA"/>
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        <balance>1266011.96</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1105501.04</valUSD>
        <pctVal>0.0367019755</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>PROVINCE OF ALBERTA 4.50%</name>
        <lei>LQPXMHHNJKIPJYE53543</lei>
        <title>PROVINCE OF ALBERTA 4.50%</title>
        <cusip>013051ET0</cusip>
        <identifiers>
          <isin value="US013051ET04"/>
          <ticker value="ALTA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>498831.19</valUSD>
        <pctVal>0.0165608982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHENIERE ENERGY PAR 5.55%</name>
        <lei>5493005UEC8AZ34LDV29</lei>
        <title>CHENIERE ENERGY PAR 5.55%</title>
        <cusip>16411QAW1</cusip>
        <identifiers>
          <isin value="US16411QAW15"/>
          <ticker value="CQP"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>253949.64</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.550000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>THERMO FISHER SCIE 5.546%</name>
        <lei>HCHV7422L5HDJZCRFL38</lei>
        <title>THERMO FISHER SCIE 5.546%</title>
        <cusip>883556DK5</cusip>
        <identifiers>
          <isin value="US883556DK59"/>
          <ticker value="TMO"/>
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        <balance>190000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>188318.68</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.546000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HONDA AUTO RECEIVAB 3.78%</name>
        <lei>N/A</lei>
        <title>HONDA AUTO RECEIVAB 3.78%</title>
        <cusip>43815CAD0</cusip>
        <identifiers>
          <isin value="US43815CAD02"/>
          <ticker value="HAROT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98830.65</valUSD>
        <pctVal>0.0032811187</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.780000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NISSAN AUTO LEASE T 3.87%</name>
        <lei>N/A</lei>
        <title>NISSAN AUTO LEASE T 3.87%</title>
        <cusip>65481HAD5</cusip>
        <identifiers>
          <isin value="US65481HAD52"/>
          <ticker value="NALT"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198296.72</valUSD>
        <pctVal>0.0065833329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.870000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ABBOTT LABORATORIES 5.60%</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>ABBOTT LABORATORIES 5.60%</title>
        <cusip>002824BX7</cusip>
        <identifiers>
          <isin value="US002824BX75"/>
          <ticker value="ABT"/>
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        <balance>130000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>127386.17</valUSD>
        <pctVal>0.0042291449</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137HQMF5</cusip>
        <identifiers>
          <isin value="US3137HQMF59"/>
          <ticker value="FHMS"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>97037.18</valUSD>
        <pctVal>0.0032215765</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.50%</title>
        <cusip>91282CQE4</cusip>
        <identifiers>
          <isin value="US91282CQE48"/>
          <ticker value="T"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5898984.36</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>3140W6JW3</cusip>
        <identifiers>
          <isin value="US3140W6JW31"/>
          <ticker value="FN"/>
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        <balance>996334.17</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>985266.75</valUSD>
        <pctVal>0.0327102688</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <name>FANNIE MAE POOL 3.00%</name>
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        <name>FREDDIE MAC MULTIF 3.854%</name>
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        <name>FANNIE MAE POOL 3.00%</name>
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        <name>FANNIE MAE POOL 2.00%</name>
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        <name>GOLDMAN SACHS GROUP I F2F</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.210000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31418DZV7</cusip>
        <identifiers>
          <isin value="US31418DZV71"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>8610920.53</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 1.914%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3137H13P9</cusip>
        <identifiers>
          <isin value="US3137H13P90"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>267806.28</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC F2F</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC F2F</title>
        <cusip>404280CV9</cusip>
        <identifiers>
          <isin value="US404280CV97"/>
          <ticker value="HSBC"/>
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        <balance>149980</balance>
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        <curCd>USD</curCd>
        <valUSD>142214.53</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.206000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.875%</title>
        <cusip>91282CEB3</cusip>
        <identifiers>
          <isin value="US91282CEB37"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4713476.55</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.875000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>3132DWDS9</cusip>
        <identifiers>
          <isin value="US3132DWDS98"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1141692.71</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>PACIFIC GAS AND ELE 5.90%</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>PACIFIC GAS AND ELE 5.90%</title>
        <cusip>694308KG1</cusip>
        <identifiers>
          <isin value="US694308KG17"/>
          <ticker value="PCG"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>827393.38</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.900000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COMCAST CORP 2.887%</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP 2.887%</title>
        <cusip>20030NDS7</cusip>
        <identifiers>
          <isin value="US20030NDS71"/>
          <ticker value="CMCSA"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>56674.26</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.887000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>HUNTINGTON INGALLS 2.043%</name>
        <lei>5TZLZ6WJTBVJ0QWBG121</lei>
        <title>HUNTINGTON INGALLS 2.043%</title>
        <cusip>446413AZ9</cusip>
        <identifiers>
          <isin value="US446413AZ96"/>
          <ticker value="HII"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189321.61</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.043000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>31418EFE5</cusip>
        <identifiers>
          <isin value="US31418EFE59"/>
          <ticker value="FNMA"/>
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        <balance>633783.19</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>577468.42</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.75%</title>
        <cusip>91282CFB2</cusip>
        <identifiers>
          <isin value="US91282CFB28"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4926757.8</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.750000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONSOLIDATED EDISON 6.15%</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>CONSOLIDATED EDISON 6.15%</title>
        <cusip>209111GD9</cusip>
        <identifiers>
          <isin value="US209111GD93"/>
          <ticker value="ED"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>520155.53</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANK 2022-BNK44 VAR</name>
        <lei>N/A</lei>
        <title>BANK 2022-BNK44 VAR</title>
        <cusip>06540KAJ8</cusip>
        <identifiers>
          <isin value="US06540KAJ88"/>
          <ticker value="BANK"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>518091.65</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.9343048</annualizedRt>
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        <securityLending>
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        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31405VJQ1</cusip>
        <identifiers>
          <isin value="US31405VJQ14"/>
          <ticker value="FNMA"/>
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        <balance>24358.07</balance>
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        <curCd>USD</curCd>
        <valUSD>24800.27</valUSD>
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      <invstOrSec>
        <name>COMCAST CORP 4.80%</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP 4.80%</title>
        <cusip>20030NEE7</cusip>
        <identifiers>
          <isin value="US20030NEE76"/>
          <ticker value="CMCSA"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>492215.68</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.375%</title>
        <cusip>91282CHX2</cusip>
        <identifiers>
          <isin value="US91282CHX20"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5021093.75</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UBS AG/LONDON 5.65%</name>
        <lei>N/A</lei>
        <title>UBS AG/LONDON 5.65%</title>
        <cusip>902674ZW3</cusip>
        <identifiers>
          <isin value="US902674ZW39"/>
          <ticker value="UBS"/>
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        <balance>1300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1331157.22</valUSD>
        <pctVal>0.0441936262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LENNOX INTL. INC 5.50%</name>
        <lei>S7DWAC87RDMPBF77GJ92</lei>
        <title>LENNOX INTL. INC 5.50%</title>
        <cusip>526107AG2</cusip>
        <identifiers>
          <isin value="US526107AG24"/>
          <ticker value="LII"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>203307.31</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN EXPRESS CR 5.15%</name>
        <lei>549300Y4SA5G3GIJTP18</lei>
        <title>AMERICAN EXPRESS CR 5.15%</title>
        <cusip>02589BAC4</cusip>
        <identifiers>
          <isin value="US02589BAC46"/>
          <ticker value="AMXCA"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>101632.36</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>3140QS4E8</cusip>
        <identifiers>
          <isin value="US3140QS4E88"/>
          <ticker value="FNMA"/>
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        <balance>264729.88</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>271292.39</valUSD>
        <pctVal>0.0090067456</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MAIN STREET CAP. CO 6.95%</name>
        <lei>5493001FS9QJLJNF3E20</lei>
        <title>MAIN STREET CAP. CO 6.95%</title>
        <cusip>56035LAH7</cusip>
        <identifiers>
          <isin value="US56035LAH78"/>
          <ticker value="MAIN"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>102834.09</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.950000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
        <cusip>91282CMZ1</cusip>
        <identifiers>
          <isin value="US91282CMZ13"/>
          <ticker value="T"/>
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        <balance>7000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6924257.83</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ORACLE CORP 5.70%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 5.70%</title>
        <cusip>68389XDZ5</cusip>
        <identifiers>
          <isin value="US68389XDZ50"/>
          <ticker value="ORCL"/>
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        <balance>270000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>261482.8</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ORACLE CORP 6.70%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 6.70%</title>
        <cusip>68389XEB7</cusip>
        <identifiers>
          <isin value="US68389XEB73"/>
          <ticker value="ORCL"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>658847.55</valUSD>
        <pctVal>0.0218733459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALPHABET INC 5.65%</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC 5.65%</title>
        <cusip>02079KBP1</cusip>
        <identifiers>
          <isin value="US02079KBP12"/>
          <ticker value="GOOGL"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>394685.49</valUSD>
        <pctVal>0.0131033230</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK5 2026-5YR20 5.104%</name>
        <lei>N/A</lei>
        <title>BANK5 2026-5YR20 5.104%</title>
        <cusip>06650JAG3</cusip>
        <identifiers>
          <isin value="US06650JAG31"/>
          <ticker value="BANK5"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503691.45</valUSD>
        <pctVal>0.0167222559</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-02-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.104000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMGEN INC 5.65%</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>AMGEN INC 5.65%</title>
        <cusip>031162DY3</cusip>
        <identifiers>
          <isin value="US031162DY30"/>
          <ticker value="AMGN"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>488157.91</valUSD>
        <pctVal>0.0162065516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-02-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SANTANDER DRIVE AUT 4.07%</name>
        <lei>N/A</lei>
        <title>SANTANDER DRIVE AUT 4.07%</title>
        <cusip>80288FAD3</cusip>
        <identifiers>
          <isin value="US80288FAD33"/>
          <ticker value="SDART"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49400.55</valUSD>
        <pctVal>0.0016400688</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.070000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VERTIV HLDGS. CO 4.85%</name>
        <lei>549300KTTIRAOGXCRV69</lei>
        <title>VERTIV HLDGS. CO 4.85%</title>
        <cusip>92537NAA6</cusip>
        <identifiers>
          <isin value="US92537NAA63"/>
          <ticker value="VRT"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>291367.93</valUSD>
        <pctVal>0.0096732416</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VIRGINIA ELEC. AND 5.70%</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>VIRGINIA ELEC. AND 5.70%</title>
        <cusip>927804GY4</cusip>
        <identifiers>
          <isin value="US927804GY48"/>
          <ticker value="D"/>
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        <balance>230000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>225918.67</valUSD>
        <pctVal>0.0075003652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EATON CORP 4.80%</name>
        <lei>0NZWDMRCE180888QQE14</lei>
        <title>EATON CORP 4.80%</title>
        <cusip>278058DZ2</cusip>
        <identifiers>
          <isin value="US278058DZ25"/>
          <ticker value="ETN"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>981058.86</valUSD>
        <pctVal>0.0325705693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CARVANA AUTO RECEIV 4.77%</name>
        <lei>N/A</lei>
        <title>CARVANA AUTO RECEIV 4.77%</title>
        <cusip>14689CAC6</cusip>
        <identifiers>
          <isin value="US14689CAC64"/>
          <ticker value="CRVNA"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100137.97</valUSD>
        <pctVal>0.0033245209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.770000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CNH EQUIP. TST. 202 4.59%</name>
        <lei>N/A</lei>
        <title>CNH EQUIP. TST. 202 4.59%</title>
        <cusip>12676QAD2</cusip>
        <identifiers>
          <isin value="US12676QAD25"/>
          <ticker value="CNH"/>
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        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>75172.04</valUSD>
        <pctVal>0.0024956669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.590000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.50%</title>
        <cusip>3128KU6K8</cusip>
        <identifiers>
          <isin value="US3128KU6K82"/>
          <ticker value="FHLMC"/>
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        <balance>5378.92</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5531.55</valUSD>
        <pctVal>0.0001836442</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 7.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 7.00%</title>
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        <name>GINNIE MAE II POOL 2.00%</name>
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        <name>TELEDYNE TECHNOLOGI 2.75%</name>
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        <name>FREDDIE MAC POOL 2.00%</name>
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        <name>FANNIE MAE POOL 2.50%</name>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK 2022-BNK42 VAR</name>
        <lei>N/A</lei>
        <title>BANK 2022-BNK42 VAR</title>
        <cusip>06541MBN3</cusip>
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          <isin value="US06541MBN39"/>
          <ticker value="BANK"/>
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        <curCd>USD</curCd>
        <valUSD>193631.16</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>COMCAST CORP 2.987%</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP 2.987%</title>
        <cusip>20030NDW8</cusip>
        <identifiers>
          <isin value="US20030NDW83"/>
          <ticker value="CMCSA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>260118.19</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BAXTER INTL. INC 3.132%</name>
        <lei>J5OIVXX3P24RJRW5CK77</lei>
        <title>BAXTER INTL. INC 3.132%</title>
        <cusip>071813CV9</cusip>
        <identifiers>
          <isin value="US071813CV90"/>
          <ticker value="BAX"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89736.32</valUSD>
        <pctVal>0.0029791923</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.25%</title>
        <cusip>91282CEV9</cusip>
        <identifiers>
          <isin value="US91282CEV90"/>
          <ticker value="T"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3897343.76</valUSD>
        <pctVal>0.1293894896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WESTPAC BANKING CO 5.457%</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>WESTPAC BANKING CO 5.457%</title>
        <cusip>961214FK4</cusip>
        <identifiers>
          <isin value="US961214FK48"/>
          <ticker value="WSTP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>507506.6</valUSD>
        <pctVal>0.0168489166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.457000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FLEX LTD 6.00%</name>
        <lei>549300EAQH74YHD07T53</lei>
        <title>FLEX LTD 6.00%</title>
        <cusip>33938XAE5</cusip>
        <identifiers>
          <isin value="US33938XAE58"/>
          <ticker value="FLEX"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>304995.97</valUSD>
        <pctVal>0.0101256844</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HERSHEY CO/THE 4.25%</name>
        <lei>21X2CX66SU2BR6QTAD08</lei>
        <title>HERSHEY CO/THE 4.25%</title>
        <cusip>427866BH0</cusip>
        <identifiers>
          <isin value="US427866BH08"/>
          <ticker value="HSY"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199479.22</valUSD>
        <pctVal>0.0066225912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COREBRIDGE FINL. IN 3.85%</name>
        <lei>549300XY1661QCIA7J65</lei>
        <title>COREBRIDGE FINL. IN 3.85%</title>
        <cusip>21871XAF6</cusip>
        <identifiers>
          <isin value="US21871XAF69"/>
          <ticker value="CRBG"/>
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        <balance>1420000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1387784.77</valUSD>
        <pctVal>0.0460736271</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFA 4.05%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFA 4.05%</title>
        <cusip>3137HAGS9</cusip>
        <identifiers>
          <isin value="US3137HAGS92"/>
          <ticker value="FHMS"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>193350.26</valUSD>
        <pctVal>0.0064191134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BHP BILLITON FIN. U 5.50%</name>
        <lei>5493003NUVITP3TMY274</lei>
        <title>BHP BILLITON FIN. U 5.50%</title>
        <cusip>055451BF4</cusip>
        <identifiers>
          <isin value="US055451BF42"/>
          <ticker value="BHP"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>295698.41</valUSD>
        <pctVal>0.0098170109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="5016.150000000000"/>
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      <invstOrSec>
        <name>INTUIT INC 5.20%</name>
        <lei>VI90HBPH7XSFMB9E4M29</lei>
        <title>INTUIT INC 5.20%</title>
        <cusip>46124HAG1</cusip>
        <identifiers>
          <isin value="US46124HAG11"/>
          <ticker value="INTU"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>301265.04</valUSD>
        <pctVal>0.0100018197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ATMOS ENERGY CORP 6.20%</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
        <title>ATMOS ENERGY CORP 6.20%</title>
        <cusip>049560BA2</cusip>
        <identifiers>
          <isin value="US049560BA22"/>
          <ticker value="ATO"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>212638.99</valUSD>
        <pctVal>0.0070594877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.75%</title>
        <cusip>912810TW8</cusip>
        <identifiers>
          <isin value="US912810TW80"/>
          <ticker value="T"/>
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        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3442578.13</valUSD>
        <pctVal>0.1142915418</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SHELL FIN. US INC 3.875%</name>
        <lei>N/A</lei>
        <title>SHELL FIN. US INC 3.875%</title>
        <cusip>822905AR6</cusip>
        <identifiers>
          <isin value="US822905AR69"/>
          <ticker value="RDSALN"/>
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        <balance>9000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8883.79</valUSD>
        <pctVal>0.0002949365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-11-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GE VERNOVA INC 5.50%</name>
        <lei>254900DP080RU6OK2553</lei>
        <title>GE VERNOVA INC 5.50%</title>
        <cusip>36828AAC5</cusip>
        <identifiers>
          <isin value="US36828AAC53"/>
          <ticker value="GEV"/>
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        <balance>220000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>213407.18</valUSD>
        <pctVal>0.0070849912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ORACLE CORP 4.55%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 4.55%</title>
        <cusip>68389XDW2</cusip>
        <identifiers>
          <isin value="US68389XDW20"/>
          <ticker value="ORCL"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>492906.53</valUSD>
        <pctVal>0.0163642030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALPHABET INC 4.80%</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC 4.80%</title>
        <cusip>02079KBM8</cusip>
        <identifiers>
          <isin value="US02079KBM80"/>
          <ticker value="GOOGL"/>
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        <balance>820000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>806098.48</valUSD>
        <pctVal>0.0267619890</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      </invstOrSec>
      <invstOrSec>
        <name>SYSCO CORP 4.95%</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.00%</title>
        <cusip>3618N6DC8</cusip>
        <identifiers>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>EQUINIX EUR. 2 FINC 4.70%</name>
        <lei>254900FSZR46BPMCKI50</lei>
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        <cusip>29390XAH7</cusip>
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          <ticker value="EQIX"/>
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      <invstOrSec>
        <name>CHASE ISSUANCE TRUS 4.40%</name>
        <lei>N/A</lei>
        <title>CHASE ISSUANCE TRUS 4.40%</title>
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          <ticker value="CHAIT"/>
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        <curCd>USD</curCd>
        <valUSD>100064.82</valUSD>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>3142JCCV0</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PORSCHE INNOVATIVE 4.41%</name>
        <lei>N/A</lei>
        <title>PORSCHE INNOVATIVE 4.41%</title>
        <cusip>73328FAD0</cusip>
        <identifiers>
          <isin value="US73328FAD06"/>
          <ticker value="PILOT"/>
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        <curCd>USD</curCd>
        <valUSD>99904.54</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31401GKC7</cusip>
        <identifiers>
          <isin value="US31401GKC77"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>20103.62</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31405MW37</cusip>
        <identifiers>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>6220.47</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LUBRIZOL CORP/THE 6.50%</name>
        <lei>549300TW3R1QXAWGC017</lei>
        <title>LUBRIZOL CORP/THE 6.50%</title>
        <cusip>549271AF1</cusip>
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          <ticker value="BRK"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55318.89</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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>ENBRIDGE ENERGY PAR 7.50%</name>
        <lei>CZ6VG2MNE1J6YDI02G48</lei>
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          <ticker value="ENBCN"/>
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        <curCd>USD</curCd>
        <valUSD>57951.18</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31415XQZ7</cusip>
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          <ticker value="FNMA"/>
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        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>36202EXT1</cusip>
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        <curCd>USD</curCd>
        <valUSD>9534.58</valUSD>
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        <name>GINNIE MAE II POOL 6.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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      <invstOrSec>
        <name>STATE OF TEXAS 5.517%</name>
        <lei>549300X9CH74QB747L76</lei>
        <title>STATE OF TEXAS 5.517%</title>
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        <identifiers>
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          <ticker value="TXS"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31417MTV5</cusip>
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        <curCd>USD</curCd>
        <valUSD>15833.83</valUSD>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NEW JERSEY TRANSPO 6.561%</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>NEW JERSEY TRANSPO 6.561%</title>
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        <curCd>USD</curCd>
        <valUSD>219124.2</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.00%</title>
        <cusip>312939WA5</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>53267.52</valUSD>
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        <name>GINNIE MAE II POOL 5.50%</name>
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        <name>FANNIE MAE POOL 6.00%</name>
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        <name>FANNIE MAE POOL 6.00%</name>
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        <name>FREDDIE MAC GOLD PO 7.00%</name>
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        <name>FREDDIE MAC GOLD PO 5.50%</name>
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        <name>FANNIE MAE POOL 3.50%</name>
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        <name>DOW CHEM. CO/THE 5.25%</name>
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        <name>GINNIE MAE II POOL 3.00%</name>
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        <name>GINNIE MAE II POOL 3.00%</name>
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        <name>FANNIE MAE POOL 3.00%</name>
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        <name>FANNIE MAE POOL 2.50%</name>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140X9QB4</cusip>
        <identifiers>
          <isin value="US3140X9QB40"/>
          <ticker value="FNMA"/>
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        <valUSD>663640.93</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>PACIFIC GAS AND ELE 4.20%</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>PACIFIC GAS AND ELE 4.20%</title>
        <cusip>694308JU2</cusip>
        <identifiers>
          <isin value="US694308JU20"/>
          <ticker value="PCG"/>
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        <curCd>USD</curCd>
        <valUSD>327570.48</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 2.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.00%</title>
        <cusip>36179WDQ8</cusip>
        <identifiers>
          <isin value="US36179WDQ87"/>
          <ticker value="GNR"/>
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        <balance>1497577.3</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1228736.76</valUSD>
        <pctVal>0.0407933280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.25%</title>
        <cusip>91282CBS9</cusip>
        <identifiers>
          <isin value="US91282CBS98"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4756250</valUSD>
        <pctVal>0.1579046648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.250000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3133AUP36</cusip>
        <identifiers>
          <isin value="US3133AUP361"/>
          <ticker value="FHLMC"/>
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        <balance>3384146.9</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2867940.84</valUSD>
        <pctVal>0.0952139263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KIMBERLY-CLARK CORP 2.00%</name>
        <lei>MP3J6QPYPGN75NVW2S34</lei>
        <title>KIMBERLY-CLARK CORP 2.00%</title>
        <cusip>494368CD3</cusip>
        <identifiers>
          <isin value="US494368CD38"/>
          <ticker value="KMB"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>176165.06</valUSD>
        <pctVal>0.0058485750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PG&amp;E ENERGY REC. F 2.822%</name>
        <lei>N/A</lei>
        <title>PG&amp;E ENERGY REC. F 2.822%</title>
        <cusip>71710TAC2</cusip>
        <identifiers>
          <isin value="US71710TAC27"/>
          <ticker value="PCG"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>36957.75</valUSD>
        <pctVal>0.0012269753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.822000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CABOT CORP 5.00%</name>
        <lei>K05C0SER542GQ6VLRO68</lei>
        <title>CABOT CORP 5.00%</title>
        <cusip>127055AM3</cusip>
        <identifiers>
          <isin value="US127055AM33"/>
          <ticker value="CBT"/>
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        <balance>70000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>69861.18</valUSD>
        <pctVal>0.0023193495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140KYEH3</cusip>
        <identifiers>
          <isin value="US3140KYEH32"/>
          <ticker value="FNMA"/>
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        <balance>4774719.1</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3844763.63</valUSD>
        <pctVal>0.1276438607</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.625%</title>
        <cusip>91282CFC0</cusip>
        <identifiers>
          <isin value="US91282CFC01"/>
          <ticker value="T"/>
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        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3345234.38</valUSD>
        <pctVal>0.1110597873</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.625000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GKY4</cusip>
        <identifiers>
          <isin value="US06051GKY43"/>
          <ticker value="BAC"/>
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        <balance>1403000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1405081.01</valUSD>
        <pctVal>0.0466478520</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.015000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARCELORMITTAL SA 6.80%</name>
        <lei>2EULGUTUI56JI9SAL165</lei>
        <title>ARCELORMITTAL SA 6.80%</title>
        <cusip>03938LBF0</cusip>
        <identifiers>
          <isin value="US03938LBF04"/>
          <ticker value="MTNA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>548574.58</valUSD>
        <pctVal>0.0182123491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TARGET CORP 4.80%</name>
        <lei>8WDDFXB5T1Z6J0XC1L66</lei>
        <title>TARGET CORP 4.80%</title>
        <cusip>87612EBR6</cusip>
        <identifiers>
          <isin value="US87612EBR62"/>
          <ticker value="TGT"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>356979.12</valUSD>
        <pctVal>0.0118514940</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <loanByFundCondition isLoanByFund="Y" loanVal="365885.760000000000"/>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31402J3U9</cusip>
        <identifiers>
          <isin value="US31402J3U95"/>
          <ticker value="FNMA"/>
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        <balance>8442.13</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8315.39</valUSD>
        <pctVal>0.0002760660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SCE REC. FNDG. LLC 5.112%</name>
        <lei>N/A</lei>
        <title>SCE REC. FNDG. LLC 5.112%</title>
        <cusip>78433LAH9</cusip>
        <identifiers>
          <isin value="US78433LAH96"/>
          <ticker value="EIX"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>92786.61</valUSD>
        <pctVal>0.0030804601</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.112000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.375%</title>
        <cusip>912810TU2</cusip>
        <identifiers>
          <isin value="US912810TU25"/>
          <ticker value="T"/>
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        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3291093.75</valUSD>
        <pctVal>0.1092623507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
        <cusip>91282CHW4</cusip>
        <identifiers>
          <isin value="US91282CHW47"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4986132.8</valUSD>
        <pctVal>0.1655366367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHASE ISSUANCE TRUS 5.08%</name>
        <lei>5493008SHVCX2Y068L12</lei>
        <title>CHASE ISSUANCE TRUS 5.08%</title>
        <cusip>161571HU1</cusip>
        <identifiers>
          <isin value="US161571HU14"/>
          <ticker value="CHAIT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>101488.57</valUSD>
        <pctVal>0.0033693600</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.080000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>T-MOBILE USA INC 6.00%</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 6.00%</title>
        <cusip>87264ADD4</cusip>
        <identifiers>
          <isin value="US87264ADD46"/>
          <ticker value="TMUS"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197731.35</valUSD>
        <pctVal>0.0065645630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN TOWER CORP 5.90%</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>AMERICAN TOWER CORP 5.90%</title>
        <cusip>03027XCF5</cusip>
        <identifiers>
          <isin value="US03027XCF50"/>
          <ticker value="AMT"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>313069.41</valUSD>
        <pctVal>0.0103937178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTUIT INC 5.125%</name>
        <lei>VI90HBPH7XSFMB9E4M29</lei>
        <title>INTUIT INC 5.125%</title>
        <cusip>46124HAF3</cusip>
        <identifiers>
          <isin value="US46124HAF38"/>
          <ticker value="INTU"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1011410.3</valUSD>
        <pctVal>0.0335782191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KIMCO REALTY OP LLC 6.40%</name>
        <lei>549300EA7I6T15IBYS12</lei>
        <title>KIMCO REALTY OP LLC 6.40%</title>
        <cusip>49447BAA1</cusip>
        <identifiers>
          <isin value="US49447BAA17"/>
          <ticker value="KIM"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>216320.46</valUSD>
        <pctVal>0.0071817103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROYAL BANK OF CANAD 5.15%</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>ROYAL BANK OF CANAD 5.15%</title>
        <cusip>78016HZW3</cusip>
        <identifiers>
          <isin value="US78016HZW32"/>
          <ticker value="RY"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203856.93</valUSD>
        <pctVal>0.0067679286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.375%</title>
        <cusip>91282CKQ3</cusip>
        <identifiers>
          <isin value="US91282CKQ32"/>
          <ticker value="T"/>
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        <balance>10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10003125</valUSD>
        <pctVal>0.3320977871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SHELL FIN. US INC 6.375%</name>
        <lei>N/A</lei>
        <title>SHELL FIN. US INC 6.375%</title>
        <cusip>822905AT2</cusip>
        <identifiers>
          <isin value="US822905AT26"/>
          <ticker value="RDSALN"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>218569.31</valUSD>
        <pctVal>0.0072563708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
        <cusip>91282CPZ8</cusip>
        <identifiers>
          <isin value="US91282CPZ85"/>
          <ticker value="T"/>
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        <balance>12500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12195312.5</valUSD>
        <pctVal>0.4048771054</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PACIFICORP 4.25%</name>
        <lei>SGY07Y7FNYBNLM6Z1M11</lei>
        <title>PACIFICORP 4.25%</title>
        <cusip>695114DH8</cusip>
        <identifiers>
          <isin value="US695114DH81"/>
          <ticker value="BRKHEC"/>
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        <balance>770000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>760484.83</valUSD>
        <pctVal>0.0252476430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST NATL. MASTER 4.61%</name>
        <lei>N/A</lei>
        <title>FIRST NATL. MASTER 4.61%</title>
        <cusip>32113CCH1</cusip>
        <identifiers>
          <isin value="US32113CCH16"/>
          <ticker value="FNMNT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100148.98</valUSD>
        <pctVal>0.0033248864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.610000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MOBILITY GBL. INC 5.45%</name>
        <lei>2549005RG02MFEFPS959</lei>
        <title>MOBILITY GBL. INC 5.45%</title>
        <cusip>60744MAB2</cusip>
        <identifiers>
          <isin value="US60744MAB28"/>
          <ticker value="MBGL"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>303242.47</valUSD>
        <pctVal>0.0100674692</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.50%</title>
        <cusip>31407H6M3</cusip>
        <identifiers>
          <isin value="US31407H6M38"/>
          <ticker value="FNMA"/>
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        <balance>3097.57</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3274.54</valUSD>
        <pctVal>0.0001087128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31410PQQ9</cusip>
        <identifiers>
          <isin value="US31410PQQ99"/>
          <ticker value="FNMA"/>
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        <balance>7194.23</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7254.94</valUSD>
        <pctVal>0.0002408597</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL GRID USA 5.803%</name>
        <lei>IITLLQEWVF9O8A7S8169</lei>
        <title>NATIONAL GRID USA 5.803%</title>
        <cusip>49337WAJ9</cusip>
        <identifiers>
          <isin value="US49337WAJ99"/>
          <ticker value="NGGLN"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>52205.47</valUSD>
        <pctVal>0.0017331905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.803000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31410PQT3</cusip>
        <identifiers>
          <isin value="US31410PQT39"/>
          <ticker value="FNMA"/>
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        <balance>15075.58</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15202.76</valUSD>
        <pctVal>0.0005047226</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.50%</title>
        <cusip>31412LUH1</cusip>
        <identifiers>
          <isin value="US31412LUH13"/>
          <ticker value="FNMA"/>
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        <balance>73630.46</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>78018.96</valUSD>
        <pctVal>0.0025901830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
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        <name>GINNIE MAE I POOL 5.00%</name>
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        <name>FREDDIE MAC GOLD PO 6.00%</name>
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        <name>FANNIE MAE POOL 4.00%</name>
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        <name>UNITED STATES TSY. 2.50%</name>
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        <name>FANNIE MAE POOL 3.50%</name>
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        <name>UNITED STATES TSY. 3.00%</name>
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        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FANNIE MAE-ACES 2.937%</name>
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        <name>FREDDIE MAC POOL 2.50%</name>
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        <name>INTER-AMERICAN DEV 1.125%</name>
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        <name>BERKSHIRE HATHAWAY 4.25%</name>
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        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>INTEL CORP 3.05%</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>INTEL CORP 3.05%</title>
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          <ticker value="INTC"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>COPT DEFENSE PROPS. 2.90%</name>
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        <cusip>22003BAP1</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KLA CORP 5.25%</name>
        <lei>549300H0BF5JCG96TJ81</lei>
        <title>KLA CORP 5.25%</title>
        <cusip>482480AN0</cusip>
        <identifiers>
          <isin value="US482480AN02"/>
          <ticker value="KLAC"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>232694.43</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2062-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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        <name>NOMURA HOLDINGS IN 5.386%</name>
        <lei>549300B3CEAHYG7K8164</lei>
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        <cusip>65535HBF5</cusip>
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        <curCd>USD</curCd>
        <valUSD>1210670.06</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-06</maturityDt>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.25%</title>
        <cusip>91282CEW7</cusip>
        <identifiers>
          <isin value="US91282CEW73"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4958046.85</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>PG&amp;E WILDFIRE REC. 4.722%</name>
        <lei>N/A</lei>
        <title>PG&amp;E WILDFIRE REC. 4.722%</title>
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          <isin value="US693342AG27"/>
          <ticker value="PCG"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>98433.81</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HF SINCLAIR CORP 4.50%</name>
        <lei>2549009G116AM01XHN24</lei>
        <title>HF SINCLAIR CORP 4.50%</title>
        <cusip>403949AC4</cusip>
        <identifiers>
          <isin value="US403949AC48"/>
          <ticker value="DINO"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>244075.94</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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        <name>MORGAN STANLEY F2V</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2V</title>
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          <isin value="US61747YFB65"/>
          <ticker value="MS"/>
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        <curCd>USD</curCd>
        <valUSD>823097.5</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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        <name>COMCAST CORP 5.50%</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP 5.50%</title>
        <cusip>20030NEG2</cusip>
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          <ticker value="CMCSA"/>
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        <curCd>USD</curCd>
        <valUSD>470432.34</valUSD>
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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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        <name>NVENT FIN. SARL 5.65%</name>
        <lei>549300KO1OQ4MVFB6X02</lei>
        <title>NVENT FIN. SARL 5.65%</title>
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        <curCd>USD</curCd>
        <valUSD>205678.48</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <name>COMCAST CORP 5.35%</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP 5.35%</title>
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          <isin value="US20030NEF42"/>
          <ticker value="CMCSA"/>
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        <curCd>USD</curCd>
        <valUSD>603577.28</valUSD>
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        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140XKLB4</cusip>
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          <ticker value="FNMA"/>
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        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140XMKJ4</cusip>
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          <ticker value="FNMA"/>
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        <valUSD>200261.58</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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        <name>NEVADA POWER CO 6.00%</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SHELL FIN. US INC 3.125%</name>
        <lei>N/A</lei>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GM FINL. AUTOMOBILE 3.88%</name>
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          <ticker value="GMALT"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALLY AUTO RECEIVABL 3.92%</name>
        <lei>N/A</lei>
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          <ticker value="ALLYA"/>
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        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140W5ZV9</cusip>
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          <ticker value="FN"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BANK5 2026-5YR22 5.713%</name>
        <lei>N/A</lei>
        <title>BANK5 2026-5YR22 5.713%</title>
        <cusip>06211HAC8</cusip>
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          <isin value="US06211HAC88"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>309846.9</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>31427SZK7</cusip>
        <identifiers>
          <isin value="US31427SZK76"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>PACIFICORP 6.10%</name>
        <lei>SGY07Y7FNYBNLM6Z1M11</lei>
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        <cusip>695114CB2</cusip>
        <identifiers>
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          <ticker value="BRKHEC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>208225</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>ALLSTATE CORP/THE F2F</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
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          <isin value="US020002AU59"/>
          <ticker value="ALL"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>231180.3</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
        <valUSD>23606.72</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3128M44B6</cusip>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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        <name>DUKE ENERGY FLORID 6.35%</name>
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          <ticker value="DUK"/>
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        <curCd>USD</curCd>
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        <name>FANNIE MAE POOL 6.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31410KLK8</cusip>
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          <ticker value="FNMA"/>
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        <name>KINDER MORGAN ENERG 6.55%</name>
        <lei>549300PDHUGWPWGOT525</lei>
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        <cusip>494550BF2</cusip>
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          <ticker value="KMI"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>CSX CORP 6.22%</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX CORP 6.22%</title>
        <cusip>126408GS6</cusip>
        <identifiers>
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        <balance>365000</balance>
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        <curCd>USD</curCd>
        <valUSD>394432.69</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.220000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONSTELLATION ENERG 5.75%</name>
        <lei>S2PEWKCZFFECR4533P43</lei>
        <title>CONSTELLATION ENERG 5.75%</title>
        <cusip>30161MAJ2</cusip>
        <identifiers>
          <isin value="US30161MAJ27"/>
          <ticker value="CEG"/>
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        <balance>430000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>430850.22</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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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        <name>GINNIE MAE II POOL 5.50%</name>
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        <name>FANNIE MAE POOL 2.00%</name>
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        <name>FANNIE MAE POOL 6.00%</name>
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        <name>GINNIE MAE I POOL 5.50%</name>
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        <name>FREDDIE MAC POOL 6.00%</name>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>AERCAP IRELAND CAP. 5.75%</name>
        <lei>N/A</lei>
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        <cusip>00774MBC8</cusip>
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          <ticker value="AER"/>
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        <curCd>USD</curCd>
        <valUSD>305808.8</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CSX CORP 5.20%</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
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        <cusip>126408HW6</cusip>
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          <ticker value="CSX"/>
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        <curCd>USD</curCd>
        <valUSD>204170.6</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>MOHAWK INDS. INC 5.85%</name>
        <lei>549300JI1115MG3Q6322</lei>
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        <cusip>608190AM6</cusip>
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          <ticker value="MHK"/>
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        <curCd>USD</curCd>
        <valUSD>102416.08</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>UNITED STATES TSY. 4.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.375%</title>
        <cusip>91282CJN2</cusip>
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          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5023046.9</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>UNITED STATES TSY. 4.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.625%</title>
        <cusip>912810UA4</cusip>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>SHELL FIN. US INC 3.00%</name>
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          <ticker value="RDSALN"/>
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        <curCd>USD</curCd>
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        <name>ORACLE CORP 6.55%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
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          <ticker value="ORCL"/>
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        <curCd>USD</curCd>
        <valUSD>197964.41</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <cusip>060505GQ1</cusip>
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          <ticker value="BAC"/>
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        <balance>1550000</balance>
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        <curCd>USD</curCd>
        <valUSD>1522671.9</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SANTANDER DRIVE AUT 3.93%</name>
        <lei>N/A</lei>
        <title>SANTANDER DRIVE AUT 3.93%</title>
        <cusip>80288FAC5</cusip>
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          <ticker value="SDART"/>
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        <balance>50000</balance>
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        <curCd>USD</curCd>
        <valUSD>49537.87</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BENCHMARK 2026-B 5.09951%</name>
        <lei>N/A</lei>
        <title>BENCHMARK 2026-B 5.09951%</title>
        <cusip>08164FAG6</cusip>
        <identifiers>
          <isin value="US08164FAG63"/>
          <ticker value="BMARK"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249584.53</valUSD>
        <pctVal>0.0082860576</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2059-03-15</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>ABBOTT LABORATORIES 4.65%</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>ABBOTT LABORATORIES 4.65%</title>
        <cusip>002824BU3</cusip>
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        <name>GINNIE MAE II POOL 5.50%</name>
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      <invstOrSec>
        <name>APPALACHIAN POWER C 7.00%</name>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.50%</name>
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        <curCd>USD</curCd>
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        <name>METROPOLITAN TRANS 7.336%</name>
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        <curCd>USD</curCd>
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        <name>GINNIE MAE I POOL 6.00%</name>
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        <name>JOHNS HOPKINS UNIV 4.083%</name>
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        <curCd>USD</curCd>
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        <name>FANNIE MAE POOL 3.00%</name>
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        <name>FANNIE MAE POOL 3.50%</name>
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        <name>FANNIE MAE POOL 3.00%</name>
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        <name>FREDDIE MAC POOL 1.50%</name>
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        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TORONTO-DOMINION B 4.456%</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TORONTO-DOMINION B 4.456%</title>
        <cusip>89115A2E1</cusip>
        <identifiers>
          <isin value="US89115A2E11"/>
          <ticker value="TD"/>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
        <valUSD>393191.8</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-06-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.456000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179XBR6</cusip>
        <identifiers>
          <isin value="US36179XBR61"/>
          <ticker value="GNR"/>
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        <balance>1179676.8</balance>
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        <curCd>USD</curCd>
        <valUSD>1049562</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DIAMONDBACK ENERGY 6.25%</name>
        <lei>549300R22LSX6OHWEN64</lei>
        <title>DIAMONDBACK ENERGY 6.25%</title>
        <cusip>25278XAW9</cusip>
        <identifiers>
          <isin value="US25278XAW92"/>
          <ticker value="FANG"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>207315.59</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ASIAN DEVELOPMENT B 4.00%</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>ASIAN DEVELOPMENT B 4.00%</title>
        <cusip>045167FV0</cusip>
        <identifiers>
          <isin value="US045167FV02"/>
          <ticker value="ASIA"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1963885.34</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PNC FINL. SERVS. GRP. F2F</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC FINL. SERVS. GRP. F2F</title>
        <cusip>693475BM6</cusip>
        <identifiers>
          <isin value="US693475BM68"/>
          <ticker value="PNC"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300250.68</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GILEAD SCIENCES INC 5.25%</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>GILEAD SCIENCES INC 5.25%</title>
        <cusip>375558BZ5</cusip>
        <identifiers>
          <isin value="US375558BZ59"/>
          <ticker value="GILD"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1027951.77</valUSD>
        <pctVal>0.0341273860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HORACE MANN EDUCATO 7.25%</name>
        <lei>254900G5YAV3A2YK8T32</lei>
        <title>HORACE MANN EDUCATO 7.25%</title>
        <cusip>440327AL8</cusip>
        <identifiers>
          <isin value="US440327AL82"/>
          <ticker value="HMN"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>156948.83</valUSD>
        <pctVal>0.0052106076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.875%</title>
        <cusip>91282CJG7</cusip>
        <identifiers>
          <isin value="US91282CJG78"/>
          <ticker value="T"/>
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        <balance>2340000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2401516.4</valUSD>
        <pctVal>0.0797289129</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>91282CJW2</cusip>
        <identifiers>
          <isin value="US91282CJW29"/>
          <ticker value="T"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5974218.72</valUSD>
        <pctVal>0.1983405003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WELLS FARGO &amp; CO F2F</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO F2F</title>
        <cusip>95000U3K7</cusip>
        <identifiers>
          <isin value="US95000U3K73"/>
          <ticker value="WFC"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>611547.85</valUSD>
        <pctVal>0.0203030241</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.499000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PROVINCE OF ONTARIO 4.20%</name>
        <lei>C7PVKCRGLG18EBQGZV36</lei>
        <title>PROVINCE OF ONTARIO 4.20%</title>
        <cusip>683234DQ8</cusip>
        <identifiers>
          <isin value="US683234DQ81"/>
          <ticker value="ONT"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>998753.36</valUSD>
        <pctVal>0.0331580162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="392.900000000000"/>
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      <invstOrSec>
        <name>AMRIZE FIN. US LLC 5.40%</name>
        <lei>529900FB2F1WKLFNGY62</lei>
        <title>AMRIZE FIN. US LLC 5.40%</title>
        <cusip>43475RAT3</cusip>
        <identifiers>
          <isin value="US43475RAT32"/>
          <ticker value="AMRZ"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202945.59</valUSD>
        <pctVal>0.0067376726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ORACLE CORP 6.85%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 6.85%</title>
        <cusip>68389XEC5</cusip>
        <identifiers>
          <isin value="US68389XEC56"/>
          <ticker value="ORCL"/>
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        <balance>210000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>195465.41</valUSD>
        <pctVal>0.0064893351</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HYUNDAI AUTO RECEIV 4.31%</name>
        <lei>N/A</lei>
        <title>HYUNDAI AUTO RECEIV 4.31%</title>
        <cusip>448981AG5</cusip>
        <identifiers>
          <isin value="US448981AG55"/>
          <ticker value="HART"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49112.68</valUSD>
        <pctVal>0.0016305117</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.310000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PACIFIC GAS AND ELE 5.20%</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>PACIFIC GAS AND ELE 5.20%</title>
        <cusip>694308LA3</cusip>
        <identifiers>
          <isin value="US694308LA38"/>
          <ticker value="PCG"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>485642.35</valUSD>
        <pctVal>0.0161230365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANCO BILBAO VIZCA 5.127%</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>BANCO BILBAO VIZCA 5.127%</title>
        <cusip>05946KAU5</cusip>
        <identifiers>
          <isin value="US05946KAU51"/>
          <ticker value="BBVASM"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>389155.44</valUSD>
        <pctVal>0.0129197286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.127000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AUTOMATIC DATA PROC 5.00%</name>
        <lei>HGBOLILQXWER4SAL2I23</lei>
        <title>AUTOMATIC DATA PROC 5.00%</title>
        <cusip>053015AK9</cusip>
        <identifiers>
          <isin value="US053015AK99"/>
          <ticker value="ADP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <name>GINNIE MAE II POOL 6.50%</name>
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        <name>FREDDIE MAC GOLD PO 6.50%</name>
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        <name>FANNIE MAE POOL 3.50%</name>
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        <name>FANNIE MAE POOL 3.50%</name>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140JSAH2</cusip>
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          <isin value="US3140JSAH29"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>534293.63</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RAYMOND JAMES FINL. 3.75%</name>
        <lei>RGUZHJ05YTITL6D76949</lei>
        <title>RAYMOND JAMES FINL. 3.75%</title>
        <cusip>754730AH2</cusip>
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          <isin value="US754730AH26"/>
          <ticker value="RJF"/>
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        <curCd>USD</curCd>
        <valUSD>72671.78</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PUBLIC STORAGE 2.30%</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>PUBLIC STORAGE 2.30%</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140XCBQ0</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>THERMO FISHER SCIEN 1.75%</name>
        <lei>HCHV7422L5HDJZCRFL38</lei>
        <title>THERMO FISHER SCIEN 1.75%</title>
        <cusip>883556CK6</cusip>
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          <ticker value="TMO"/>
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        <curCd>USD</curCd>
        <valUSD>35779.99</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.750000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>BRIXMOR OPERATING P 2.50%</name>
        <lei>549300CJHBL7JBUA6503</lei>
        <title>BRIXMOR OPERATING P 2.50%</title>
        <cusip>11120VAL7</cusip>
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          <isin value="US11120VAL71"/>
          <ticker value="BRX"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>267177.34</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>GENERAL MILLS INC 2.25%</name>
        <lei>2TGYMUGI08PO8X8L6150</lei>
        <title>GENERAL MILLS INC 2.25%</title>
        <cusip>370334CQ5</cusip>
        <identifiers>
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          <ticker value="GIS"/>
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        <balance>432000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179W2V9</cusip>
        <identifiers>
          <isin value="US36179W2V97"/>
          <ticker value="GNR"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1241939.06</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140QN7K2</cusip>
        <identifiers>
          <isin value="US3140QN7K21"/>
          <ticker value="FNMA"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1195944.82</valUSD>
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        <invCountry>US</invCountry>
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        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>3132DWD67</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>31418EE22</cusip>
        <identifiers>
          <isin value="US31418EE225"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>4337267.89</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>PG&amp;E WILDFIRE REC. 4.022%</name>
        <lei>N/A</lei>
        <title>PG&amp;E WILDFIRE REC. 4.022%</title>
        <cusip>693342AF4</cusip>
        <identifiers>
          <isin value="US693342AF44"/>
          <ticker value="PCG"/>
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        <balance>49329.52</balance>
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        <curCd>USD</curCd>
        <valUSD>48391.85</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.022000000000</annualizedRt>
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        <name>PG&amp;E WILDFIRE REC. 5.212%</name>
        <lei>N/A</lei>
        <title>PG&amp;E WILDFIRE REC. 5.212%</title>
        <cusip>693342AJ6</cusip>
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          <isin value="US693342AJ65"/>
          <ticker value="PCG"/>
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        <curCd>USD</curCd>
        <valUSD>94709.85</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PDG8</cusip>
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          <isin value="US46647PDG81"/>
          <ticker value="JPM"/>
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        <balance>33000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33095.84</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.851000000000</annualizedRt>
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        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31403DQF9</cusip>
        <identifiers>
          <isin value="US31403DQF95"/>
          <ticker value="FNMA"/>
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        <balance>81866.31</balance>
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        <curCd>USD</curCd>
        <valUSD>81720.62</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>HCA INC 5.50%</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA INC 5.50%</title>
        <cusip>404119CQ0</cusip>
        <identifiers>
          <isin value="US404119CQ00"/>
          <ticker value="HCA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510795.51</valUSD>
        <pctVal>0.0169581064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SUMITOMO MITSUI FI 5.808%</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>SUMITOMO MITSUI FI 5.808%</title>
        <cusip>86562MDJ6</cusip>
        <identifiers>
          <isin value="US86562MDJ62"/>
          <ticker value="SUMIBK"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>312943.82</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.808000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MARVELL TECH. INC 5.75%</name>
        <lei>N/A</lei>
        <title>MARVELL TECH. INC 5.75%</title>
        <cusip>573874AP9</cusip>
        <identifiers>
          <isin value="US573874AP91"/>
          <ticker value="MRVL"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>307605.1</valUSD>
        <pctVal>0.0102123060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENERGY TRANSFER LP 6.40%</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP 6.40%</title>
        <cusip>29273VAT7</cusip>
        <identifiers>
          <isin value="US29273VAT70"/>
          <ticker value="ET"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>423363.96</valUSD>
        <pctVal>0.0140554311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 7.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 7.00%</title>
        <cusip>36179YPK4</cusip>
        <identifiers>
          <isin value="US36179YPK46"/>
          <ticker value="GNR"/>
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        <balance>174901.74</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>181521.64</valUSD>
        <pctVal>0.0060264102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APOLLO DEBT SOLS. B 6.55%</name>
        <lei>549300UMUGX092P8DW87</lei>
        <title>APOLLO DEBT SOLS. B 6.55%</title>
        <cusip>03770DAF0</cusip>
        <identifiers>
          <isin value="US03770DAF06"/>
          <ticker value="APODS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>504281.96</valUSD>
        <pctVal>0.0167418605</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>3618N56G9</cusip>
        <identifiers>
          <isin value="US3618N56G99"/>
          <ticker value="GNR"/>
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        <balance>493905.53</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>474625.47</valUSD>
        <pctVal>0.0157572827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>060505GR9</cusip>
        <identifiers>
          <isin value="US060505GR98"/>
          <ticker value="BAC"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>984872.16</valUSD>
        <pctVal>0.0326971686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.045000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MCCORMICK INC/MD 4.15%</name>
        <lei>549300JQQA6MQ4OJP259</lei>
        <title>MCCORMICK INC/MD 4.15%</title>
        <cusip>579780AV9</cusip>
        <identifiers>
          <isin value="US579780AV93"/>
          <ticker value="MKC"/>
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        <balance>900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>890232.97</valUSD>
        <pctVal>0.0295552039</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WALT DISNEY CO/THE 4.00%</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>WALT DISNEY CO/THE 4.00%</title>
        <cusip>254687GD2</cusip>
        <identifiers>
          <isin value="US254687GD28"/>
          <ticker value="DIS"/>
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        <balance>1610000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1573112.81</valUSD>
        <pctVal>0.0522264076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DTE ELEC. CO 4.85%</name>
        <lei>9N0FWODEJVKHC2DYLO03</lei>
        <title>DTE ELEC. CO 4.85%</title>
        <cusip>23338VBB1</cusip>
        <identifiers>
          <isin value="US23338VBB18"/>
          <ticker value="DTE"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>488677.26</valUSD>
        <pctVal>0.0162237937</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HA SUSTBL. INFRA. C 6.00%</name>
        <lei>254900ZZRL7MWL1X8E92</lei>
        <title>HA SUSTBL. INFRA. C 6.00%</title>
        <cusip>41068XAK6</cusip>
        <identifiers>
          <isin value="US41068XAK63"/>
          <ticker value="HASI"/>
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        <balance>170000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>167729.2</valUSD>
        <pctVal>0.0055685095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SANTANDER DRIVE AUT 4.26%</name>
        <lei>N/A</lei>
        <title>SANTANDER DRIVE AUT 4.26%</title>
        <cusip>80288FAE1</cusip>
        <identifiers>
          <isin value="US80288FAE16"/>
          <ticker value="SDART"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49276.18</valUSD>
        <pctVal>0.0016359398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.260000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMEREN CORP 5.00%</name>
        <lei>XRZQ5S7HYJFPHJ78L959</lei>
        <title>AMEREN CORP 5.00%</title>
        <cusip>023608AS1</cusip>
        <identifiers>
          <isin value="US023608AS14"/>
          <ticker value="AEE"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>488121.24</valUSD>
        <pctVal>0.0162053342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ASTRAZENECA FIN. LL 4.60%</name>
        <lei>549300C3HATU4Q460S18</lei>
        <title>ASTRAZENECA FIN. LL 4.60%</title>
        <cusip>04636NAS2</cusip>
        <identifiers>
          <isin value="US04636NAS27"/>
          <ticker value="AZN"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>484801.38</valUSD>
        <pctVal>0.0160951168</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ARES STRAT. INC. FU 5.55%</name>
        <lei>549300IANZJVZPTICV54</lei>
        <title>ARES STRAT. INC. FU 5.55%</title>
        <cusip>04020EAW7</cusip>
        <identifiers>
          <isin value="US04020EAW75"/>
          <ticker value="ARESSI"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145551.27</valUSD>
        <pctVal>0.0048322154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>APPALACHIAN POWER 5.836%</name>
        <lei>N/A</lei>
        <title>APPALACHIAN POWER 5.836%</title>
        <cusip>037975AC3</cusip>
        <identifiers>
          <isin value="US037975AC33"/>
          <ticker value="AEP"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102083.37</valUSD>
        <pctVal>0.0033891070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.836000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 6.00%</title>
        <cusip>3128LXUK4</cusip>
        <identifiers>
          <isin value="US3128LXUK41"/>
          <ticker value="FHLMC"/>
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        <balance>38139.78</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40058.18</valUSD>
        <pctVal>0.0013299077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138WQRA2</cusip>
        <identifiers>
          <isin value="US3138WQRA26"/>
          <ticker value="FNMA"/>
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        <balance>190248.53</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>172384.85</valUSD>
        <pctVal>0.0057230743</pctVal>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418CV43</cusip>
        <identifiers>
          <isin value="US31418CV439"/>
          <ticker value="FNMA"/>
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        <balance>201559.28</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194997.67</valUSD>
        <pctVal>0.0064738064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NUTRIEN LTD 4.125%</name>
        <lei>5493002QQ7GD21OWF963</lei>
        <title>NUTRIEN LTD 4.125%</title>
        <cusip>67077MAN8</cusip>
        <identifiers>
          <isin value="US67077MAN83"/>
          <ticker value="NTRCN"/>
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        <balance>23000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21146.55</valUSD>
        <pctVal>0.0007020529</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC SERVICES I 3.95%</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>REPUBLIC SERVICES I 3.95%</title>
        <cusip>760759AT7</cusip>
        <identifiers>
          <isin value="US760759AT74"/>
          <ticker value="RSG"/>
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        <balance>432000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>428209.65</valUSD>
        <pctVal>0.0142163051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AUTOZONE INC 3.75%</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
        <title>AUTOZONE INC 3.75%</title>
        <cusip>053332AW2</cusip>
        <identifiers>
          <isin value="US053332AW26"/>
          <ticker value="AZO"/>
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        <balance>121000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>118252.61</valUSD>
        <pctVal>0.0039259162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICA MOVIL SAB 4.375%</name>
        <lei>5493000FNR3UCEAONM59</lei>
        <title>AMERICA MOVIL SAB 4.375%</title>
        <cusip>02364WBG9</cusip>
        <identifiers>
          <isin value="US02364WBG96"/>
          <ticker value="AMXLMM"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>418901</valUSD>
        <pctVal>0.0139072635</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3131XQVA1</cusip>
        <identifiers>
          <isin value="US3131XQVA18"/>
          <ticker value="FHLMC"/>
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        <balance>52844.01</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>51115.16</valUSD>
        <pctVal>0.0016969928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3131Y2FK9</cusip>
        <identifiers>
          <isin value="US3131Y2FK95"/>
          <ticker value="FHLMC"/>
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        <balance>92053.83</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>87346.11</valUSD>
        <pctVal>0.0028998388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>3131XNVM2</cusip>
        <identifiers>
          <isin value="US3131XNVM25"/>
          <ticker value="FHLMC"/>
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        <balance>67976.7</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>63338.62</valUSD>
        <pctVal>0.0021028044</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESTPAC BANKING CO 4.421%</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>WESTPAC BANKING CO 4.421%</title>
        <cusip>961214EG4</cusip>
        <identifiers>
          <isin value="US961214EG45"/>
          <ticker value="WSTP"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>269248.99</valUSD>
        <pctVal>0.0089389060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.421000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BURLINGTON NORTHERN 3.55%</name>
        <lei>N/A</lei>
        <title>BURLINGTON NORTHERN 3.55%</title>
        <cusip>12189LBE0</cusip>
        <identifiers>
          <isin value="US12189LBE02"/>
          <ticker value="BNSF"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>290754.68</valUSD>
        <pctVal>0.0096528821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEXAS INSTRUMENTS I 2.25%</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>TEXAS INSTRUMENTS I 2.25%</title>
        <cusip>882508BG8</cusip>
        <identifiers>
          <isin value="US882508BG82"/>
          <ticker value="TXN"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>187168.76</valUSD>
        <pctVal>0.0062138913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1886.560000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>APPLE INC 2.20%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC 2.20%</title>
        <cusip>037833DP2</cusip>
        <identifiers>
          <isin value="US037833DP29"/>
          <ticker value="AAPL"/>
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        <balance>188000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>176573.31</valUSD>
        <pctVal>0.0058621286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ORACLE CORP 3.60%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 3.60%</title>
        <cusip>68389XBX2</cusip>
        <identifiers>
          <isin value="US68389XBX21"/>
          <ticker value="ORCL"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>608112.03</valUSD>
        <pctVal>0.0201889569</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROCTER &amp; GAMBLE CO 3.00%</name>
        <lei>2572IBTT8CCZW6AU4141</lei>
        <title>PROCTER &amp; GAMBLE CO 3.00%</title>
        <cusip>742718FH7</cusip>
        <identifiers>
          <isin value="US742718FH71"/>
          <ticker value="PG"/>
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        <balance>794000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>756339.21</valUSD>
        <pctVal>0.0251100109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COMCAST CORP 3.40%</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP 3.40%</title>
        <cusip>20030NDG3</cusip>
        <identifiers>
          <isin value="US20030NDG34"/>
          <ticker value="CMCSA"/>
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        <balance>1370000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1308907.48</valUSD>
        <pctVal>0.0434549481</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="69408.090000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>SNAP-ON INC 3.10%</name>
        <lei>HHWAT5TDOYZMM26KKQ73</lei>
        <title>SNAP-ON INC 3.10%</title>
        <cusip>833034AM3</cusip>
        <identifiers>
          <isin value="US833034AM32"/>
          <ticker value="SNA"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>67318.21</valUSD>
        <pctVal>0.0022349244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ABBOTT LABORATORIES 1.15%</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>ABBOTT LABORATORIES 1.15%</title>
        <cusip>002824BP4</cusip>
        <identifiers>
          <isin value="US002824BP42"/>
          <ticker value="ABT"/>
        </identifiers>
        <balance>110000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104898.31</valUSD>
        <pctVal>0.0034825614</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="105432.400000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAKEDA PHARM. CO L 3.025%</name>
        <lei>549300ZLMVP4X0OGR454</lei>
        <title>TAKEDA PHARM. CO L 3.025%</title>
        <cusip>874060AY2</cusip>
        <identifiers>
          <isin value="US874060AY21"/>
          <ticker value="TACHEM"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>379338.15</valUSD>
        <pctVal>0.0125938005</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.025000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OTIS WORLDWIDE COR 3.362%</name>
        <lei>549300ZLBKR8VSU25153</lei>
        <title>OTIS WORLDWIDE COR 3.362%</title>
        <cusip>68902VAM9</cusip>
        <identifiers>
          <isin value="US68902VAM90"/>
          <ticker value="OTIS"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>139941.93</valUSD>
        <pctVal>0.0046459887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.362000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3140KLHZ8</cusip>
        <identifiers>
          <isin value="US3140KLHZ81"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>529311.87</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>452932.29</valUSD>
        <pctVal>0.0150370820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</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>FANNIE MAE POOL 1.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 1.50%</title>
        <cusip>31418DUF7</cusip>
        <identifiers>
          <isin value="US31418DUF76"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>2047572.3</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1571757.33</valUSD>
        <pctVal>0.0521814064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</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>SALESFORCE INC 1.95%</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>SALESFORCE INC 1.95%</title>
        <cusip>79466LAJ3</cusip>
        <identifiers>
          <isin value="US79466LAJ35"/>
          <ticker value="CRM"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>261292.1</valUSD>
        <pctVal>0.0086747420</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.950000000000</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>WELLTOWER OP LLC 2.05%</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>WELLTOWER OP LLC 2.05%</title>
        <cusip>95040QAN4</cusip>
        <identifiers>
          <isin value="US95040QAN43"/>
          <ticker value="WELL"/>
        </identifiers>
        <balance>67000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>63073.81</valUSD>
        <pctVal>0.0020940129</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.050000000000</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>ISRAEL GOVERNMENT I 4.50%</name>
        <lei>213800T8ZHTFZIBYPE21</lei>
        <title>ISRAEL GOVERNMENT I 4.50%</title>
        <cusip>4651387N9</cusip>
        <identifiers>
          <isin value="US4651387N91"/>
          <ticker value="ISRAEL"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>170838.77</valUSD>
        <pctVal>0.0056717453</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</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>ATMOS ENERGY CORP 4.125%</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
        <title>ATMOS ENERGY CORP 4.125%</title>
        <cusip>049560AM7</cusip>
        <identifiers>
          <isin value="US049560AM78"/>
          <ticker value="ATO"/>
        </identifiers>
        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62745.77</valUSD>
        <pctVal>0.0020831222</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMAZON.COM INC 4.95%</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON.COM INC 4.95%</title>
        <cusip>023135AQ9</cusip>
        <identifiers>
          <isin value="US023135AQ91"/>
          <ticker value="AMZN"/>
        </identifiers>
        <balance>156000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145810.53</valUSD>
        <pctVal>0.0048408227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</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>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179SSN8</cusip>
        <identifiers>
          <isin value="US36179SSN89"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>18164.65</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15794.54</valUSD>
        <pctVal>0.0005243693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</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>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179TJX4</cusip>
        <identifiers>
          <isin value="US36179TJX46"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>378277.76</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>345528.7</valUSD>
        <pctVal>0.0114713469</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>TANGER PROPS. LP 2.75%</name>
        <lei>PQPGJDNFN35EXH363L31</lei>
        <title>TANGER PROPS. LP 2.75%</title>
        <cusip>875484AL1</cusip>
        <identifiers>
          <isin value="US875484AL13"/>
          <ticker value="SKT"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89893.67</valUSD>
        <pctVal>0.0029844163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TD SYNNEX CORP 2.65%</name>
        <lei>5493004HI6PFLF46NS53</lei>
        <title>TD SYNNEX CORP 2.65%</title>
        <cusip>87162WAK6</cusip>
        <identifiers>
          <isin value="US87162WAK62"/>
          <ticker value="SNX"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>133548.56</valUSD>
        <pctVal>0.0044337326</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.650000000000</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>NORTHROP GRUMMAN CO 3.25%</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>NORTHROP GRUMMAN CO 3.25%</title>
        <cusip>666807BN1</cusip>
        <identifiers>
          <isin value="US666807BN13"/>
          <ticker value="NOC"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>491326.23</valUSD>
        <pctVal>0.0163117380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED PARCEL SERVI 3.75%</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>UNITED PARCEL SERVI 3.75%</title>
        <cusip>911312BN5</cusip>
        <identifiers>
          <isin value="US911312BN52"/>
          <ticker value="UPS"/>
        </identifiers>
        <balance>180000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>136447.77</valUSD>
        <pctVal>0.0045299846</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="6103.510000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>T-MOBILE USA INC 5.80%</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 5.80%</title>
        <cusip>87264ACX1</cusip>
        <identifiers>
          <isin value="US87264ACX19"/>
          <ticker value="TMUS"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>96004.24</valUSD>
        <pctVal>0.0031872835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.800000000000</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>UNION PACIFIC CORP 5.15%</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>UNION PACIFIC CORP 5.15%</title>
        <cusip>907818GD4</cusip>
        <identifiers>
          <isin value="US907818GD49"/>
          <ticker value="UNP"/>
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        <balance>900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>827409.04</valUSD>
        <pctVal>0.0274694869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>31418CS54</cusip>
        <identifiers>
          <isin value="US31418CS542"/>
          <ticker value="FNMA"/>
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        <balance>261877.34</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>247136.92</valUSD>
        <pctVal>0.0082047984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CONNECTICUT LIGHT A 4.00%</name>
        <lei>549300O45IUXEDS1VZ32</lei>
        <title>CONNECTICUT LIGHT A 4.00%</title>
        <cusip>207597EL5</cusip>
        <identifiers>
          <isin value="US207597EL50"/>
          <ticker value="ES"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198959.21</valUSD>
        <pctVal>0.0066053272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CONOCOPHILLIPS CO 4.025%</name>
        <lei>6VJJ5GQWIRDQ06DUXG89</lei>
        <title>CONOCOPHILLIPS CO 4.025%</title>
        <cusip>20826FBD7</cusip>
        <identifiers>
          <isin value="US20826FBD78"/>
          <ticker value="COP"/>
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        <balance>405000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>295062.48</valUSD>
        <pctVal>0.0097958984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.025000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN EXPRESS CO 5.85%</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>AMERICAN EXPRESS CO 5.85%</title>
        <cusip>025816DB2</cusip>
        <identifiers>
          <isin value="US025816DB21"/>
          <ticker value="AXP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>509472.78</valUSD>
        <pctVal>0.0169141926</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179TZ57</cusip>
        <identifiers>
          <isin value="US36179TZ577"/>
          <ticker value="GNR"/>
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        <balance>135956.6</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>128910.09</valUSD>
        <pctVal>0.0042797381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WALMART INC 3.95%</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>WALMART INC 3.95%</title>
        <cusip>931142EB5</cusip>
        <identifiers>
          <isin value="US931142EB57"/>
          <ticker value="WMT"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>183664.38</valUSD>
        <pctVal>0.0060975479</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PACIFICORP 4.125%</name>
        <lei>SGY07Y7FNYBNLM6Z1M11</lei>
        <title>PACIFICORP 4.125%</title>
        <cusip>695114CT3</cusip>
        <identifiers>
          <isin value="US695114CT39"/>
          <ticker value="BRKHEC"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38028.79</valUSD>
        <pctVal>0.0012625332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOUTHWESTERN ELECTR 4.10%</name>
        <lei>R64UBJHEC74EB3HGQ410</lei>
        <title>SOUTHWESTERN ELECTR 4.10%</title>
        <cusip>845437BR2</cusip>
        <identifiers>
          <isin value="US845437BR25"/>
          <ticker value="AEP"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>246995.61</valUSD>
        <pctVal>0.0082001070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WESTINGHOUSE AIR BRAK STP</name>
        <lei>06BTX5UWZD0GQ5N5Y745</lei>
        <title>WESTINGHOUSE AIR BRAK STP</title>
        <cusip>960386AM2</cusip>
        <identifiers>
          <isin value="US960386AM29"/>
          <ticker value="WAB"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250162.48</valUSD>
        <pctVal>0.0083052452</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SIMON PROP. GRP. LP 4.25%</name>
        <lei>MR92GTD0MJTTTTQDVG45</lei>
        <title>SIMON PROP. GRP. LP 4.25%</title>
        <cusip>828807CT2</cusip>
        <identifiers>
          <isin value="US828807CT20"/>
          <ticker value="SPG"/>
        </identifiers>
        <balance>148000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>124602.49</valUSD>
        <pctVal>0.0041367284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRANE TECHNOLOGIES 4.65%</name>
        <lei>549300A5OEF3CJI2CO89</lei>
        <title>TRANE TECHNOLOGIES 4.65%</title>
        <cusip>456873AC2</cusip>
        <identifiers>
          <isin value="US456873AC20"/>
          <ticker value="TT"/>
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        <balance>35000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31207.17</valUSD>
        <pctVal>0.0010360594</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CARDINAL HEALTH INC 4.50%</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
        <title>CARDINAL HEALTH INC 4.50%</title>
        <cusip>14149YBB3</cusip>
        <identifiers>
          <isin value="US14149YBB39"/>
          <ticker value="CAH"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>169360.33</valUSD>
        <pctVal>0.0056226620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LEIDOS INC 5.75%</name>
        <lei>5493006I78VIN6J1BQ95</lei>
        <title>LEIDOS INC 5.75%</title>
        <cusip>52532XAJ4</cusip>
        <identifiers>
          <isin value="US52532XAJ46"/>
          <ticker value="LDOS"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>308847.17</valUSD>
        <pctVal>0.0102535419</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36202FXC5</cusip>
        <identifiers>
          <isin value="US36202FXC57"/>
          <ticker value="GNR"/>
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        <balance>44665.46</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44187.22</valUSD>
        <pctVal>0.0014669894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LABORATORY CORP OF 4.70%</name>
        <lei>OZ7UA8IXAIFILY2VZH07</lei>
        <title>LABORATORY CORP OF 4.70%</title>
        <cusip>50540RAS1</cusip>
        <identifiers>
          <isin value="US50540RAS13"/>
          <ticker value="LH"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>267760.25</valUSD>
        <pctVal>0.0088894807</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</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>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179SGK7</cusip>
        <identifiers>
          <isin value="US36179SGK78"/>
          <ticker value="GNR"/>
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        <balance>490765.24</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>440933.03</valUSD>
        <pctVal>0.0146387138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
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          <ticker value="JPM"/>
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        <curCd>USD</curCd>
        <valUSD>33628.82</valUSD>
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        <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>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418DC91</cusip>
        <identifiers>
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          <ticker value="FNMA"/>
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        <balance>35936.64</balance>
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        <curCd>USD</curCd>
        <valUSD>34351.99</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERISOURCEBERGEN C 4.30%</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
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        <cusip>03073EAQ8</cusip>
        <identifiers>
          <isin value="US03073EAQ89"/>
          <ticker value="COR"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82721.24</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY CAP 3.587%</name>
        <lei>N/A</lei>
        <title>MORGAN STANLEY CAP 3.587%</title>
        <cusip>61691NAE5</cusip>
        <identifiers>
          <isin value="US61691NAE58"/>
          <ticker value="MSC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>196330.96</valUSD>
        <pctVal>0.0065180708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO COMMER 3.589%</name>
        <lei>N/A</lei>
        <title>WELLS FARGO COMMER 3.589%</title>
        <cusip>95001GAE3</cusip>
        <identifiers>
          <isin value="US95001GAE35"/>
          <ticker value="WFCM"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>97899.74</valUSD>
        <pctVal>0.0032502130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.589000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179T4P7</cusip>
        <identifiers>
          <isin value="US36179T4P73"/>
          <ticker value="GNR"/>
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        <balance>181721.07</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>172297.8</valUSD>
        <pctVal>0.0057201843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BENCHMARK 2018-B5 4.2076%</name>
        <lei>N/A</lei>
        <title>BENCHMARK 2018-B5 4.2076%</title>
        <cusip>08160BAD6</cusip>
        <identifiers>
          <isin value="US08160BAD64"/>
          <ticker value="BMARK"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197169.5</valUSD>
        <pctVal>0.0065459099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <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>GENERAL MOTORS CO 5.00%</name>
        <lei>54930070NSV60J38I987</lei>
        <title>GENERAL MOTORS CO 5.00%</title>
        <cusip>37045VAS9</cusip>
        <identifiers>
          <isin value="US37045VAS97"/>
          <ticker value="GM"/>
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        <balance>227000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>228152.22</valUSD>
        <pctVal>0.0075745177</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>3131WNL69</cusip>
        <identifiers>
          <isin value="US3131WNL694"/>
          <ticker value="FHLMC"/>
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        <balance>180561.3</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>177470.26</valUSD>
        <pctVal>0.0058919068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>31329MUT5</cusip>
        <identifiers>
          <isin value="US31329MUT51"/>
          <ticker value="FHLMC"/>
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        <balance>167768.42</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>151894.25</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AIR LEASE CORP 4.625%</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>AIR LEASE CORP 4.625%</title>
        <cusip>00912XBF0</cusip>
        <identifiers>
          <isin value="US00912XBF06"/>
          <ticker value="SUMIAL"/>
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        <balance>551000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>549141.09</valUSD>
        <pctVal>0.0182311568</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INTERNATIONAL FLAVO 5.00%</name>
        <lei>BZLRL03D3GPGMOGFO832</lei>
        <title>INTERNATIONAL FLAVO 5.00%</title>
        <cusip>459506AL5</cusip>
        <identifiers>
          <isin value="US459506AL51"/>
          <ticker value="IFF"/>
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        <balance>41000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>36225.33</valUSD>
        <pctVal>0.0012026594</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>3131XMSC0</cusip>
        <identifiers>
          <isin value="US3131XMSC07"/>
          <ticker value="FHLMC"/>
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        <balance>489279.92</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>455795.9</valUSD>
        <pctVal>0.0151321522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TOTALENERGIES CAP. 2.829%</name>
        <lei>549300U37G2I8G4RUG09</lei>
        <title>TOTALENERGIES CAP. 2.829%</title>
        <cusip>89153VAT6</cusip>
        <identifiers>
          <isin value="US89153VAT61"/>
          <ticker value="TTEFP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>472055.32</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PROVINCE OF BRITISH 7.25%</name>
        <lei>54930058TO7MEKUHWL16</lei>
        <title>PROVINCE OF BRITISH 7.25%</title>
        <cusip>110709EC2</cusip>
        <identifiers>
          <isin value="US110709EC29"/>
          <ticker value="BRCOL"/>
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        <balance>175000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>207414.94</valUSD>
        <pctVal>0.0068860524</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.250000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179NDR6</cusip>
        <identifiers>
          <isin value="US36179NDR61"/>
          <ticker value="GNR"/>
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        <balance>241575.16</balance>
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        <curCd>USD</curCd>
        <valUSD>226517.66</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PROCTER &amp; GAMBLE CO 3.55%</name>
        <lei>2572IBTT8CCZW6AU4141</lei>
        <title>PROCTER &amp; GAMBLE CO 3.55%</title>
        <cusip>742718FJ3</cusip>
        <identifiers>
          <isin value="US742718FJ38"/>
          <ticker value="PG"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>170829.57</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>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DEERE &amp; CO 3.75%</name>
        <lei>PWFTNG3EI0Y73OXWDH08</lei>
        <title>DEERE &amp; CO 3.75%</title>
        <cusip>244199BK0</cusip>
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          <ticker value="DE"/>
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        <curCd>USD</curCd>
        <valUSD>487319.59</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>31418DP97</cusip>
        <identifiers>
          <isin value="US31418DP975"/>
          <ticker value="FNMA"/>
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        <balance>503403.37</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>406771.39</valUSD>
        <pctVal>0.0135045677</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DBJPM 20-C9 MTGE. 1.926%</name>
        <lei>N/A</lei>
        <title>DBJPM 20-C9 MTGE. 1.926%</title>
        <cusip>233063AT3</cusip>
        <identifiers>
          <isin value="US233063AT32"/>
          <ticker value="DBJPM"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89198.32</valUSD>
        <pctVal>0.0029613311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-15</maturityDt>
          <couponKind>Variable</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VIRGINIA ELEC. AND 4.45%</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>VIRGINIA ELEC. AND 4.45%</title>
        <cusip>927804FR0</cusip>
        <identifiers>
          <isin value="US927804FR06"/>
          <ticker value="D"/>
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        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>64833.19</valUSD>
        <pctVal>0.0021524233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.450000000000</annualizedRt>
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          <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>
        <name>METLIFE INC STP</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>METLIFE INC STP</title>
        <cusip>59156RBL1</cusip>
        <identifiers>
          <isin value="US59156RBL15"/>
          <ticker value="MET"/>
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        <balance>370000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>326890.88</valUSD>
        <pctVal>0.0108525824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.721000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>31418BYJ9</cusip>
        <identifiers>
          <isin value="US31418BYJ96"/>
          <ticker value="FNMA"/>
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        <balance>98221.88</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93707.7</valUSD>
        <pctVal>0.0031110398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC SERVICES 3.375%</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>REPUBLIC SERVICES 3.375%</title>
        <cusip>760759AS9</cusip>
        <identifiers>
          <isin value="US760759AS91"/>
          <ticker value="RSG"/>
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        <balance>296000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>292440.75</valUSD>
        <pctVal>0.0097088586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>3140Q83V5</cusip>
        <identifiers>
          <isin value="US3140Q83V59"/>
          <ticker value="FNMA"/>
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        <balance>177836.01</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>173145.93</valUSD>
        <pctVal>0.0057483417</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>3140Q9DP5</cusip>
        <identifiers>
          <isin value="US3140Q9DP50"/>
          <ticker value="FNMA"/>
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        <balance>88312.49</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>86157.25</valUSD>
        <pctVal>0.0028603693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JOHNSON &amp; JOHNSON 2.45%</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>JOHNSON &amp; JOHNSON 2.45%</title>
        <cusip>478160CT9</cusip>
        <identifiers>
          <isin value="US478160CT90"/>
          <ticker value="JNJ"/>
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        <balance>120000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65039.84</valUSD>
        <pctVal>0.0021592839</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.450000000000</annualizedRt>
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          <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>FANNIE MAE POOL 1.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 1.50%</title>
        <cusip>31418DTL6</cusip>
        <identifiers>
          <isin value="US31418DTL63"/>
          <ticker value="FNMA"/>
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        <balance>304873.08</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>273631.57</valUSD>
        <pctVal>0.0090844050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.50%</title>
        <cusip>3132D6DM9</cusip>
        <identifiers>
          <isin value="US3132D6DM93"/>
          <ticker value="FHLMC"/>
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        <balance>45569.64</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>46339.47</valUSD>
        <pctVal>0.0015384428</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</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>
        <name>CONOCOPHILLIPS 4.875%</name>
        <lei>WPTL2Z3FIYTHSP5V2253</lei>
        <title>CONOCOPHILLIPS 4.875%</title>
        <cusip>20825CBC7</cusip>
        <identifiers>
          <isin value="US20825CBC73"/>
          <ticker value="COP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>445540.81</valUSD>
        <pctVal>0.0147916893</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>31418EGA2</cusip>
        <identifiers>
          <isin value="US31418EGA29"/>
          <ticker value="FNMA"/>
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        <balance>124980.39</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>116994.89</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INTER-AMERICAN DEV. 3.50%</name>
        <lei>VKU1UKDS9E7LYLMACP54</lei>
        <title>INTER-AMERICAN DEV. 3.50%</title>
        <cusip>4581X0EJ3</cusip>
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          <isin value="US4581X0EJ31"/>
          <ticker value="IADB"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>285210.94</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-12</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3132A5D85</cusip>
        <identifiers>
          <isin value="US3132A5D858"/>
          <ticker value="FHLB"/>
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        <balance>74867.19</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>71488.44</valUSD>
        <pctVal>0.0023733736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>3132A5JS5</cusip>
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      <invstOrSec>
        <name>TAMPA ELECTRIC CO 4.10%</name>
        <lei>WS423EPRKJIIJUITXD73</lei>
        <title>TAMPA ELECTRIC CO 4.10%</title>
        <cusip>875127BA9</cusip>
        <identifiers>
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          <ticker value="TE"/>
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        <curCd>USD</curCd>
        <valUSD>41853.72</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>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31416YLR7</cusip>
        <identifiers>
          <isin value="US31416YLR70"/>
          <ticker value="FNMA"/>
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        <balance>206666.88</balance>
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        <curCd>USD</curCd>
        <valUSD>208418.66</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 1.521%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 1.521%</title>
        <cusip>3137F82N2</cusip>
        <identifiers>
          <isin value="US3137F82N25"/>
          <ticker value="FHLMC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>176811.6</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.521000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>VERIZON COMMS. INC 2.987%</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMS. INC 2.987%</title>
        <cusip>92343VFW9</cusip>
        <identifiers>
          <isin value="US92343VFW90"/>
          <ticker value="VZ"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>412185.59</valUSD>
        <pctVal>0.0136843159</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.987000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>BRIGHTHOUSE FINL. I 3.85%</name>
        <lei>5493003T8SZSHOGGAW52</lei>
        <title>BRIGHTHOUSE FINL. I 3.85%</title>
        <cusip>10922NAH6</cusip>
        <identifiers>
          <isin value="US10922NAH61"/>
          <ticker value="BHF"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>143223.18</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.850000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHUBB INA HOLDINGS 2.85%</name>
        <lei>CZCBJZWDMLTHWJDXU843</lei>
        <title>CHUBB INA HOLDINGS 2.85%</title>
        <cusip>171239AH9</cusip>
        <identifiers>
          <isin value="US171239AH94"/>
          <ticker value="CB"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>63601.4</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179XFF8</cusip>
        <identifiers>
          <isin value="US36179XFF87"/>
          <ticker value="GNR"/>
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        <balance>740097.93</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>669188.87</valUSD>
        <pctVal>0.0222166716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JOHN DEERE CAPITAL 4.15%</name>
        <lei>E0KSF7PFQ210NWI8Z391</lei>
        <title>JOHN DEERE CAPITAL 4.15%</title>
        <cusip>24422EWK1</cusip>
        <identifiers>
          <isin value="US24422EWK18"/>
          <ticker value="DE"/>
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        <balance>118000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117852.35</valUSD>
        <pctVal>0.0039126278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.150000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418AKN7</cusip>
        <identifiers>
          <isin value="US31418AKN71"/>
          <ticker value="FNMA"/>
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        <balance>190594.55</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>183137.01</valUSD>
        <pctVal>0.0060800396</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY 4.30%</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY 4.30%</title>
        <cusip>61747YDY8</cusip>
        <identifiers>
          <isin value="US61747YDY86"/>
          <ticker value="MS"/>
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        <balance>784000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>660833.89</valUSD>
        <pctVal>0.0219392912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WW GRAINGER INC 4.60%</name>
        <lei>549300TWZSP6O1IH2V34</lei>
        <title>WW GRAINGER INC 4.60%</title>
        <cusip>384802AB0</cusip>
        <identifiers>
          <isin value="US384802AB05"/>
          <ticker value="GWW"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89335.91</valUSD>
        <pctVal>0.0029658990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179RF95</cusip>
        <identifiers>
          <isin value="US36179RF953"/>
          <ticker value="GNR"/>
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        <balance>87471.62</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80755.96</valUSD>
        <pctVal>0.0026810497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GENERAL MOTORS CO 6.75%</name>
        <lei>54930070NSV60J38I987</lei>
        <title>GENERAL MOTORS CO 6.75%</title>
        <cusip>37045VAL4</cusip>
        <identifiers>
          <isin value="US37045VAL45"/>
          <ticker value="GM"/>
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        <balance>145000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153105.93</valUSD>
        <pctVal>0.0050830256</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.750000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FORTIVE CORP 4.30%</name>
        <lei>549300MU9YQJYHDQEF63</lei>
        <title>FORTIVE CORP 4.30%</title>
        <cusip>34959JAH1</cusip>
        <identifiers>
          <isin value="US34959JAH14"/>
          <ticker value="FTV"/>
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        <balance>105000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>86270.69</valUSD>
        <pctVal>0.0028641355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANCO BILBAO VIZCAYA F2V</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>BANCO BILBAO VIZCAYA F2V</title>
        <cusip>05946KAL5</cusip>
        <identifiers>
          <isin value="US05946KAL52"/>
          <ticker value="BBVASM"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>407314.91</valUSD>
        <pctVal>0.0135226122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.138000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418EKT6</cusip>
        <identifiers>
          <isin value="US31418EKT63"/>
          <ticker value="FNMA"/>
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        <balance>2072347.2</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1998969.34</valUSD>
        <pctVal>0.0663645905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 3.50%</title>
        <cusip>3128MMW25</cusip>
        <identifiers>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>51387.5</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 3.244%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 3.244%</title>
        <cusip>3137FBBX3</cusip>
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          <isin value="US3137FBBX34"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>148145.7</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>36179XTC0</cusip>
        <identifiers>
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          <ticker value="GNR"/>
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        <balance>420138.06</balance>
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        <curCd>USD</curCd>
        <valUSD>416469.42</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>SYNOVUS BANK/COLUM 5.625%</name>
        <lei>N/A</lei>
        <title>SYNOVUS BANK/COLUM 5.625%</title>
        <cusip>87164DVJ6</cusip>
        <identifiers>
          <isin value="US87164DVJ61"/>
          <ticker value="PNFP"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>252561.65</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LOCKHEED MARTIN COR 4.09%</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>LOCKHEED MARTIN COR 4.09%</title>
        <cusip>539830BN8</cusip>
        <identifiers>
          <isin value="US539830BN88"/>
          <ticker value="LMT"/>
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        <balance>20000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15756.47</valUSD>
        <pctVal>0.0005231054</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.090000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AIR LEASE CORP 3.625%</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>AIR LEASE CORP 3.625%</title>
        <cusip>00912XAY0</cusip>
        <identifiers>
          <isin value="US00912XAY04"/>
          <ticker value="SUMIAL"/>
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        <balance>163000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>160723.16</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.625000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMGEN INC 5.65%</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>AMGEN INC 5.65%</title>
        <cusip>031162DT4</cusip>
        <identifiers>
          <isin value="US031162DT45"/>
          <ticker value="AMGN"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>973303.04</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="40684.020000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>3138A4SQ9</cusip>
        <identifiers>
          <isin value="US3138A4SQ97"/>
          <ticker value="FNMA"/>
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        <balance>33031.01</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33311.03</valUSD>
        <pctVal>0.0011059063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <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>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137F4X72</cusip>
        <identifiers>
          <isin value="US3137F4X727"/>
          <ticker value="FHLMC"/>
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        <balance>148702.91</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146915.49</valUSD>
        <pctVal>0.0048775067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.650000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK 2018-BNK12 VAR</name>
        <lei>N/A</lei>
        <title>BANK 2018-BNK12 VAR</title>
        <cusip>06541KBA5</cusip>
        <identifiers>
          <isin value="US06541KBA51"/>
          <ticker value="BANK"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>296420.43</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.255000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CSAIL 2018-C C14 A4 VAR</name>
        <lei>N/A</lei>
        <title>CSAIL 2018-C C14 A4 VAR</title>
        <cusip>12596GAZ2</cusip>
        <identifiers>
          <isin value="US12596GAZ28"/>
          <ticker value="CSAIL"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297018.63</valUSD>
        <pctVal>0.0098608415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.421600000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>549300MS654K78GYF580</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>31334WD81</cusip>
        <identifiers>
          <isin value="US31334WD814"/>
          <ticker value="FAMCA"/>
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        <balance>453691.74</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>415077.56</valUSD>
        <pctVal>0.0137803276</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ORACLE CORP 3.80%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 3.80%</title>
        <cusip>68389XBP9</cusip>
        <identifiers>
          <isin value="US68389XBP96"/>
          <ticker value="ORCL"/>
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        <balance>5000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3994.74</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3140Q7VM6</cusip>
        <identifiers>
          <isin value="US3140Q7VM61"/>
          <ticker value="FNMA"/>
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        <balance>53973.75</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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          <maturityDt>2047-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>THE CAMPBELL S COMP 4.80%</name>
        <lei>5493007JDSMX8Z5Z1902</lei>
        <title>THE CAMPBELL S COMP 4.80%</title>
        <cusip>134429BH1</cusip>
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          <isin value="US134429BH18"/>
          <ticker value="CPB"/>
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        <balance>240000</balance>
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        <curCd>USD</curCd>
        <valUSD>196725.44</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418CZJ6</cusip>
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          <isin value="US31418CZJ60"/>
          <ticker value="FNMA"/>
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        <balance>57062.04</balance>
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        <curCd>USD</curCd>
        <valUSD>55540.09</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERCONTINENTAL EX 4.25%</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>INTERCONTINENTAL EX 4.25%</title>
        <cusip>45866FAH7</cusip>
        <identifiers>
          <isin value="US45866FAH73"/>
          <ticker value="ICE"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>413755</valUSD>
        <pctVal>0.0137364194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <name>ARIZONA PUBLIC SERV 4.20%</name>
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      <invstOrSec>
        <name>KOREA INTERNATIONAL 3.50%</name>
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        <curCd>USD</curCd>
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        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3132A5D28</cusip>
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        <name>FREDDIE MAC POOL 3.50%</name>
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        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3132A2X49</cusip>
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        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3131XJR87</cusip>
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      <invstOrSec>
        <name>JPMCC COMMER. MTG 3.3861%</name>
        <lei>N/A</lei>
        <title>JPMCC COMMER. MTG 3.3861%</title>
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        <curCd>USD</curCd>
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        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138WQAW2</cusip>
        <identifiers>
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        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31418CR97</cusip>
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        <name>FANNIE MAE-ACES VAR</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>ITC HLDGS. CORP 3.35%</name>
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        <name>ONEOK INC 4.55%</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
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        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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      </invstOrSec>
      <invstOrSec>
        <name>DIGNITY HEALTH 5.267%</name>
        <lei>N/A</lei>
        <title>DIGNITY HEALTH 5.267%</title>
        <cusip>254010AE1</cusip>
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          <isin value="US254010AE13"/>
          <ticker value="CATMED"/>
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        <curCd>USD</curCd>
        <valUSD>180504.26</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PARKER-HANNIFIN COR 4.45%</name>
        <lei>5493002CONDB4N2HKI23</lei>
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          <ticker value="PH"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>APPLE INC 3.45%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
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        <cusip>037833BA7</cusip>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-02-09</maturityDt>
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      <invstOrSec>
        <name>KIMBERLY-CLARK CORP 3.20%</name>
        <lei>MP3J6QPYPGN75NVW2S34</lei>
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        <cusip>494368BV4</cusip>
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        <balance>25000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418CCH5</cusip>
        <identifiers>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36179TAM7</cusip>
        <identifiers>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>161195.87</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2047-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.00%</title>
        <cusip>3128P7DN0</cusip>
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          <isin value="US3128P7DN02"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>214.3</valUSD>
        <pctVal>0.0000071146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179QYS4</cusip>
        <identifiers>
          <isin value="US36179QYS47"/>
          <ticker value="GNR"/>
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        <balance>172170.39</balance>
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        <curCd>USD</curCd>
        <valUSD>159271.68</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2045-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 3.00%</title>
        <cusip>36178NF87</cusip>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>46993.98</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3138WJ5W4</cusip>
        <identifiers>
          <isin value="US3138WJ5W45"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>161801.56</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2047-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418CRJ5</cusip>
        <identifiers>
          <isin value="US31418CRJ52"/>
          <ticker value="FNMA"/>
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        <balance>156014.43</balance>
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        <curCd>USD</curCd>
        <valUSD>150415.09</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2032-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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      <invstOrSec>
        <name>GATX CORP 3.50%</name>
        <lei>549300IHYHCQP2PIR591</lei>
        <title>GATX CORP 3.50%</title>
        <cusip>361448BA0</cusip>
        <identifiers>
          <isin value="US361448BA03"/>
          <ticker value="GATX"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>490397.1</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>LEGGETT &amp; PLATT INC 3.50%</name>
        <lei>DKOVQUCDW4ZLYCUD4T55</lei>
        <title>LEGGETT &amp; PLATT INC 3.50%</title>
        <cusip>524660AY3</cusip>
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          <isin value="US524660AY34"/>
          <ticker value="LEG"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>489645.35</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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      <invstOrSec>
        <name>INDONESIA GOVERNMEN 3.50%</name>
        <lei>529900FWX0GRR7WG5W79</lei>
        <title>INDONESIA GOVERNMEN 3.50%</title>
        <cusip>455780CD6</cusip>
        <identifiers>
          <isin value="US455780CD62"/>
          <ticker value="8DIB"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>494292</valUSD>
        <pctVal>0.0164101998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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      <invstOrSec>
        <name>SYSCO CORP 4.45%</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>SYSCO CORP 4.45%</title>
        <cusip>871829BH9</cusip>
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          <isin value="US871829BH94"/>
          <ticker value="SYY"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244170.42</valUSD>
        <pctVal>0.0081063124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.450000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140JNTD2</cusip>
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          <isin value="US3140JNTD27"/>
          <ticker value="FNMA"/>
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        <balance>144844.29</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>132912.51</valUSD>
        <pctVal>0.0044126161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALEXANDRIA REAL EST 2.75%</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>ALEXANDRIA REAL EST 2.75%</title>
        <cusip>015271AT6</cusip>
        <identifiers>
          <isin value="US015271AT64"/>
          <ticker value="ARE"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>932424.23</valUSD>
        <pctVal>0.0309559286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140GVY66</cusip>
        <identifiers>
          <isin value="US3140GVY660"/>
          <ticker value="FNMA"/>
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        <balance>96807.89</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89256.3</valUSD>
        <pctVal>0.0029632560</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3140HEAW2</cusip>
        <identifiers>
          <isin value="US3140HEAW28"/>
          <ticker value="FNMA"/>
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        <balance>284082.9</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>269554.19</valUSD>
        <pctVal>0.0089490384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIF 1.566%</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC MULTIF 1.566%</title>
        <cusip>3137F63Z8</cusip>
        <identifiers>
          <isin value="US3137F63Z81"/>
          <ticker value="FHLMC"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>222554.55</valUSD>
        <pctVal>0.0073886784</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.566000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179X5E2</cusip>
        <identifiers>
          <isin value="US36179X5E28"/>
          <ticker value="GNR"/>
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        <balance>243513.74</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>228843.15</valUSD>
        <pctVal>0.0075974562</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROGRESSIVE CORP/TH 4.20%</name>
        <lei>529900TACNVLY9DCR586</lei>
        <title>PROGRESSIVE CORP/TH 4.20%</title>
        <cusip>743315AT0</cusip>
        <identifiers>
          <isin value="US743315AT02"/>
          <ticker value="PGR"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>245335.5</valUSD>
        <pctVal>0.0081449924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BENCHMARK 2018-B3 4.025%</name>
        <lei>N/A</lei>
        <title>BENCHMARK 2018-B3 4.025%</title>
        <cusip>08161BAY9</cusip>
        <identifiers>
          <isin value="US08161BAY92"/>
          <ticker value="BMARK"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98478.16</valUSD>
        <pctVal>0.0032694162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.025000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ABB FINANCE USA INC 3.80%</name>
        <lei>5493002Y01YAFV45F528</lei>
        <title>ABB FINANCE USA INC 3.80%</title>
        <cusip>00037BAF9</cusip>
        <identifiers>
          <isin value="US00037BAF94"/>
          <ticker value="ABBNVX"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198017.18</valUSD>
        <pctVal>0.0065740523</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="114940.220000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>WALMART INC 3.70%</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>WALMART INC 3.70%</title>
        <cusip>931142EE9</cusip>
        <identifiers>
          <isin value="US931142EE96"/>
          <ticker value="WMT"/>
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        <balance>251000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248667.86</valUSD>
        <pctVal>0.0082556247</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>36179YDK7</cusip>
        <identifiers>
          <isin value="US36179YDK73"/>
          <ticker value="GNR"/>
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        <balance>657542.16</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>665071.48</valUSD>
        <pctVal>0.0220799767</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31418EN97</cusip>
        <identifiers>
          <isin value="US31418EN978"/>
          <ticker value="FNMA"/>
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        <balance>124267.32</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>124977.9</valUSD>
        <pctVal>0.0041491918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEXTERA ENERGY CAP. 2.25%</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NEXTERA ENERGY CAP. 2.25%</title>
        <cusip>65339KBR0</cusip>
        <identifiers>
          <isin value="US65339KBR05"/>
          <ticker value="NEE"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>364848.97</valUSD>
        <pctVal>0.0121127683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COMCAST CORP 2.80%</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP 2.80%</title>
        <cusip>20030NDL2</cusip>
        <identifiers>
          <isin value="US20030NDL29"/>
          <ticker value="CMCSA"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>390149.17</valUSD>
        <pctVal>0.0129527199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HUNTINGTON BANCSHARES F2F</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>HUNTINGTON BANCSHARES F2F</title>
        <cusip>446150BC7</cusip>
        <identifiers>
          <isin value="US446150BC73"/>
          <ticker value="HBAN"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>514679.94</valUSD>
        <pctVal>0.0170870672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.208000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SANTANDER DRIVE AUT 6.04%</name>
        <lei>N/A</lei>
        <title>SANTANDER DRIVE AUT 6.04%</title>
        <cusip>802927AF0</cusip>
        <identifiers>
          <isin value="US802927AF02"/>
          <ticker value="DRIVE"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50766.05</valUSD>
        <pctVal>0.0016854026</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.040000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>FANNIE MAE-ACES VAR</title>
        <cusip>3136B2HA3</cusip>
        <identifiers>
          <isin value="US3136B2HA35"/>
          <ticker value="FNMA"/>
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        <balance>177418.46</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>174177.89</valUSD>
        <pctVal>0.0057826021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.473000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>3140Q9N25</cusip>
        <identifiers>
          <isin value="US3140Q9N257"/>
          <ticker value="FNMA"/>
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        <balance>54658.77</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>53049.78</valUSD>
        <pctVal>0.0017612211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 6.50%</name>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140XKP95</cusip>
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      <invstOrSec>
        <name>GENERAL MOTORS FINA 3.60%</name>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>PACIFIC GAS AND ELE 4.95%</name>
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          <ticker value="PCG"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <cusip>36179UCC4</cusip>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>156244.93</valUSD>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <cusip>36179UCB6</cusip>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>295840.59</valUSD>
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        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AERCAP IRELAND CAP. 6.15%</name>
        <lei>N/A</lei>
        <title>AERCAP IRELAND CAP. 6.15%</title>
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        <identifiers>
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          <ticker value="AER"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>313454.33</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 6.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 6.50%</title>
        <cusip>3132DWJT1</cusip>
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          <ticker value="FHLMC"/>
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        <balance>201622.17</balance>
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        <curCd>USD</curCd>
        <valUSD>208639.1</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3133C9KN2</cusip>
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        <curCd>USD</curCd>
        <valUSD>517180.66</valUSD>
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      <invstOrSec>
        <name>FANNIE MAE POOL 6.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.50%</title>
        <cusip>3140QSV32</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>199186.9</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>GINNIE MAE II POOL 7.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 7.00%</title>
        <cusip>36179YHV9</cusip>
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          <ticker value="GNR"/>
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        <valUSD>130317.11</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>PANAMA GOV. INTL. 6.875%</name>
        <lei>549300SHS4T08CL0LP14</lei>
        <title>PANAMA GOV. INTL. 6.875%</title>
        <cusip>698299BW3</cusip>
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          <isin value="US698299BW36"/>
          <ticker value="PANAMA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>545000</valUSD>
        <pctVal>0.0180936751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>AMERICA MOVIL SAB 6.125%</name>
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        <title>AMERICA MOVIL SAB 6.125%</title>
        <cusip>02364WAP0</cusip>
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          <isin value="US02364WAP05"/>
          <ticker value="AMXLMM"/>
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        <balance>505000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>529200.7</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>KREDITANSTALT FUER 0.00%</name>
        <lei>549300GDPG70E3MBBU98</lei>
        <title>KREDITANSTALT FUER 0.00%</title>
        <cusip>500769BR4</cusip>
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          <isin value="US500769BR40"/>
          <ticker value="KFW"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>323241.79</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-18</maturityDt>
          <couponKind>None</couponKind>
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        <name>PACIFICORP 5.30%</name>
        <lei>SGY07Y7FNYBNLM6Z1M11</lei>
        <title>PACIFICORP 5.30%</title>
        <cusip>695114DC9</cusip>
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          <isin value="US695114DC94"/>
          <ticker value="BRKHEC"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>406029.44</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DIAMONDBACK ENERGY 5.75%</name>
        <lei>549300R22LSX6OHWEN64</lei>
        <title>DIAMONDBACK ENERGY 5.75%</title>
        <cusip>25278XBA6</cusip>
        <identifiers>
          <isin value="US25278XBA63"/>
          <ticker value="FANG"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>291657.27</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-18</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GILEAD SCIENCES INC 4.50%</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>GILEAD SCIENCES INC 4.50%</title>
        <cusip>375558BA0</cusip>
        <identifiers>
          <isin value="US375558BA09"/>
          <ticker value="GILD"/>
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        <balance>150000</balance>
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        <curCd>USD</curCd>
        <valUSD>130503.39</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JOHNSON &amp; JOHNSON 3.70%</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>JOHNSON &amp; JOHNSON 3.70%</title>
        <cusip>478160BV5</cusip>
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          <isin value="US478160BV55"/>
          <ticker value="JNJ"/>
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        <curCd>USD</curCd>
        <valUSD>479221.19</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>XYLEM INC/NY 2.25%</name>
        <lei>549300DF5MV96DRYLQ48</lei>
        <title>XYLEM INC/NY 2.25%</title>
        <cusip>98419MAL4</cusip>
        <identifiers>
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          <ticker value="XYL"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>180192.18</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.250000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179WFG8</cusip>
        <identifiers>
          <isin value="US36179WFG87"/>
          <ticker value="GNR"/>
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        <balance>1722921.89</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1473490.01</valUSD>
        <pctVal>0.0489189900</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133KL6J1</cusip>
        <identifiers>
          <isin value="US3133KL6J19"/>
          <ticker value="FHLMC"/>
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        <balance>630372.87</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>513262.69</valUSD>
        <pctVal>0.0170400154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE MULTI-A 1.39%</name>
        <lei>R42WS16M9R97TJJKGU15</lei>
        <title>CAPITAL ONE MULTI-A 1.39%</title>
        <cusip>14041NFX4</cusip>
        <identifiers>
          <isin value="US14041NFX49"/>
          <ticker value="COMET"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>141312.24</valUSD>
        <pctVal>0.0046914821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.390000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CLECO COR. HLDGS. LLC STP</name>
        <lei>5493002H80P81B3HXL31</lei>
        <title>CLECO COR. HLDGS. LLC STP</title>
        <cusip>18551PAD1</cusip>
        <identifiers>
          <isin value="US18551PAD15"/>
          <ticker value="CNL"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85123.54</valUSD>
        <pctVal>0.0028260508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.973000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179TNR2</cusip>
        <identifiers>
          <isin value="US36179TNR22"/>
          <ticker value="GNR"/>
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        <balance>381267.93</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>350399.61</valUSD>
        <pctVal>0.0116330582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SYNCHRONY FINANCIAL 3.95%</name>
        <lei>549300RS7EWPM9MA6C78</lei>
        <title>SYNCHRONY FINANCIAL 3.95%</title>
        <cusip>87165BAM5</cusip>
        <identifiers>
          <isin value="US87165BAM54"/>
          <ticker value="SYF"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>395941.5</valUSD>
        <pctVal>0.0131450218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>3138WKVH5</cusip>
        <identifiers>
          <isin value="US3138WKVH52"/>
          <ticker value="FNMA"/>
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        <balance>109696.26</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>107280</valUSD>
        <pctVal>0.0035616321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KIRBY CORP 4.20%</name>
        <lei>I7NO6FZO5GUCG585T325</lei>
        <title>KIRBY CORP 4.20%</title>
        <cusip>497266AC0</cusip>
        <identifiers>
          <isin value="US497266AC03"/>
          <ticker value="KEX"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99078.89</valUSD>
        <pctVal>0.0032893601</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALABAMA POWER CO 4.30%</name>
        <lei>0RL818ELFOHP5JHOFU19</lei>
        <title>ALABAMA POWER CO 4.30%</title>
        <cusip>010392FS2</cusip>
        <identifiers>
          <isin value="US010392FS24"/>
          <ticker value="SO"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>245396</valUSD>
        <pctVal>0.0081470009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MID-AMERICA APTS. 2.875%</name>
        <lei>549300FXWGE3QSYCUJ38</lei>
        <title>MID-AMERICA APTS. 2.875%</title>
        <cusip>59523UAU1</cusip>
        <identifiers>
          <isin value="US59523UAU16"/>
          <ticker value="MAA"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>126927.22</valUSD>
        <pctVal>0.0042139080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>31418D7F3</cusip>
        <identifiers>
          <isin value="US31418D7F32"/>
          <ticker value="FNMA"/>
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        <balance>7932363.47</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6679364.8</valUSD>
        <pctVal>0.2217509298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179T7K5</cusip>
        <identifiers>
          <isin value="US36179T7K59"/>
          <ticker value="GNR"/>
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        <balance>128250.66</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>121596.76</valUSD>
        <pctVal>0.0040369399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHERN CALIFORNIA 4.30%</name>
        <lei>XY0N0J73VHV5F4CUJV89</lei>
        <title>SOUTHERN CALIFORNIA 4.30%</title>
        <cusip>842434CS9</cusip>
        <identifiers>
          <isin value="US842434CS98"/>
          <ticker value="SRE"/>
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        <balance>125000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100536.99</valUSD>
        <pctVal>0.0033377681</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REALTY INCOME CORP 3.40%</name>
        <lei>549300CUWDAUZSH43859</lei>
        <title>REALTY INCOME CORP 3.40%</title>
        <cusip>756109BH6</cusip>
        <identifiers>
          <isin value="US756109BH64"/>
          <ticker value="O"/>
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        <balance>61000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59993.88</valUSD>
        <pctVal>0.0019917611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LEAR CORP 3.55%</name>
        <lei>549300UPNBTXA1SYTQ33</lei>
        <title>LEAR CORP 3.55%</title>
        <cusip>521865BD6</cusip>
        <identifiers>
          <isin value="US521865BD60"/>
          <ticker value="LEA"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>136673.66</valUSD>
        <pctVal>0.0045374840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTERPOINT ENERGY 3.55%</name>
        <lei>549300S8SEQBOJLKHW63</lei>
        <title>CENTERPOINT ENERGY 3.55%</title>
        <cusip>15189XAM0</cusip>
        <identifiers>
          <isin value="US15189XAM02"/>
          <ticker value="CNP"/>
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        <balance>40000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31511.02</valUSD>
        <pctVal>0.0010461471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DOW CHEMICAL CO/TH 4.25%</name>
        <lei>ZQUIP1CSZO8LXRBSOU78</lei>
        <title>DOW CHEMICAL CO/TH 4.25%</title>
        <cusip>260543CK7</cusip>
        <identifiers>
          <isin value="US260543CK73"/>
          <ticker value="DOW"/>
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        <balance>470000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>426542.71</valUSD>
        <pctVal>0.0141609637</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NUCOR CORP 2.979%</name>
        <lei>549300GGJCRSI2TIEJ46</lei>
        <title>NUCOR CORP 2.979%</title>
        <cusip>670346AU9</cusip>
        <identifiers>
          <isin value="US670346AU98"/>
          <ticker value="NUE"/>
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        <balance>275000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>172069.57</valUSD>
        <pctVal>0.0057126072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.979000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>QUALCOMM INC 5.40%</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM INC 5.40%</title>
        <cusip>747525BS1</cusip>
        <identifiers>
          <isin value="US747525BS17"/>
          <ticker value="QCOM"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>310643.21</valUSD>
        <pctVal>0.0103131694</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="312533.190000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN EXPRESS CR 5.24%</name>
        <lei>549300Y4SA5G3GIJTP18</lei>
        <title>AMERICAN EXPRESS CR 5.24%</title>
        <cusip>02582JKF6</cusip>
        <identifiers>
          <isin value="US02582JKF65"/>
          <ticker value="AMXCA"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102271.22</valUSD>
        <pctVal>0.0033953435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.240000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CARMAX AUTO OWNER T 5.69%</name>
        <lei>N/A</lei>
        <title>CARMAX AUTO OWNER T 5.69%</title>
        <cusip>14319EAG1</cusip>
        <identifiers>
          <isin value="US14319EAG17"/>
          <ticker value="CARMX"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>101614.33</valUSD>
        <pctVal>0.0033735352</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.690000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.50%</title>
        <cusip>3133W9D99</cusip>
        <identifiers>
          <isin value="US3133W9D994"/>
          <ticker value="FHLMC"/>
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        <balance>801841.58</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>808922.87</valUSD>
        <pctVal>0.0268557571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROVINCE OF BRITISH 4.75%</name>
        <lei>54930058TO7MEKUHWL16</lei>
        <title>PROVINCE OF BRITISH 4.75%</title>
        <cusip>110709AN2</cusip>
        <identifiers>
          <isin value="US110709AN20"/>
          <ticker value="BRCOL"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>252314.16</valUSD>
        <pctVal>0.0083766797</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENERGY TRANSFER LP 5.35%</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP 5.35%</title>
        <cusip>86765BAQ2</cusip>
        <identifiers>
          <isin value="US86765BAQ23"/>
          <ticker value="ET"/>
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        <balance>80000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>72696.58</valUSD>
        <pctVal>0.0024134831</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NORTHROP GRUMMAN CO 3.85%</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>NORTHROP GRUMMAN CO 3.85%</title>
        <cusip>666807BJ0</cusip>
        <identifiers>
          <isin value="US666807BJ01"/>
          <ticker value="NOC"/>
        </identifiers>
        <balance>8000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6340.21</valUSD>
        <pctVal>0.0002104912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REYNOLDS AMERICAN I 5.85%</name>
        <lei>02S2RPPVO9RP4NEU2740</lei>
        <title>REYNOLDS AMERICAN I 5.85%</title>
        <cusip>761713BB1</cusip>
        <identifiers>
          <isin value="US761713BB19"/>
          <ticker value="BATSLN"/>
        </identifiers>
        <balance>795000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>783036.36</valUSD>
        <pctVal>0.0259963404</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>APPLE INC 4.65%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC 4.65%</title>
        <cusip>037833BX7</cusip>
        <identifiers>
          <isin value="US037833BX70"/>
          <ticker value="AAPL"/>
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        <balance>206000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>184256.04</valUSD>
        <pctVal>0.0061171907</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>31418CRC0</cusip>
        <identifiers>
          <isin value="US31418CRC00"/>
          <ticker value="FNMA"/>
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        <balance>323874.84</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297921.06</valUSD>
        <pctVal>0.0098908016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORTHROP GRUMMAN CO 4.03%</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>NORTHROP GRUMMAN CO 4.03%</title>
        <cusip>666807BP6</cusip>
        <identifiers>
          <isin value="US666807BP60"/>
          <ticker value="NOC"/>
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        <balance>252000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200698.82</valUSD>
        <pctVal>0.0066630812</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.030000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HOME DEPOT INC/THE 4.85%</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>HOME DEPOT INC/THE 4.85%</title>
        <cusip>437076DD1</cusip>
        <identifiers>
          <isin value="US437076DD13"/>
          <ticker value="HD"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>506173.08</valUSD>
        <pctVal>0.0168046445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</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>BANK OF MONTREAL F2F</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
        <title>BANK OF MONTREAL F2F</title>
        <cusip>06368L8L3</cusip>
        <identifiers>
          <isin value="US06368L8L34"/>
          <ticker value="BMO"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>299171.98</valUSD>
        <pctVal>0.0099323314</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.640000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UBER TECHS. INC 5.35%</name>
        <lei>549300B2FTG34FILDR98</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SEMPRA F2V</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>INTEL CORP 5.125%</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EXPORT DEV. CANADA 3.875%</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>MIZUHO FINANCIAL GROU F2V</name>
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        <curCd>USD</curCd>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>GINNIE MAE I POOL 3.50%</name>
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      <invstOrSec>
        <name>FLORIDA POWER &amp; LIG 5.80%</name>
        <lei>A89MY1K3YLIGJMYWVX50</lei>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LPL HLDGS. INC 5.20%</name>
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        <curCd>USD</curCd>
        <valUSD>251635.89</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>APPLE INC 3.75%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>GINNIE MAE I POOL 5.50%</name>
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        <name>FREDDIE MAC POOL 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140XL7J1</cusip>
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          <ticker value="FNMA"/>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>ASSURANT INC 4.90%</name>
        <lei>H3F39CAXWQRVWURFXL38</lei>
        <title>ASSURANT INC 4.90%</title>
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          <ticker value="AIZ"/>
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        <curCd>USD</curCd>
        <valUSD>215220.82</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
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        <name>FREDDIE MAC POOL 6.50%</name>
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        <name>FANNIE MAE POOL 6.50%</name>
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        <name>FANNIE MAE POOL 6.00%</name>
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        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <ticker value="GNR"/>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140HEAY8</cusip>
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          <ticker value="FNMA"/>
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        <valUSD>46104.27</valUSD>
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        <debtSec>
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        <name>TOYOTA MOTOR CREDIT 4.80%</name>
        <lei>Z2VZBHUMB7PWWJ63I008</lei>
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        <cusip>89236TLM5</cusip>
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          <ticker value="TOYOTA"/>
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        <curCd>USD</curCd>
        <valUSD>495710.9</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>INGERSOLL RAND INC 5.314%</name>
        <lei>5299004C02FMZCUOIR50</lei>
        <title>INGERSOLL RAND INC 5.314%</title>
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          <ticker value="IR"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>509964.79</valUSD>
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        <debtSec>
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        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36179T7L3</cusip>
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          <ticker value="GNR"/>
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        <debtSec>
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        <name>CD 2018-CD7 MORTGA 4.279%</name>
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        <title>CD 2018-CD7 MORTGA 4.279%</title>
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        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3138EPF66</cusip>
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          <isin value="US3138EPF660"/>
          <ticker value="FNMA"/>
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          <couponKind>Fixed</couponKind>
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        <name>J M SMUCKER CO/THE 4.375%</name>
        <lei>5493000WDH6A0LHDJD55</lei>
        <title>J M SMUCKER CO/THE 4.375%</title>
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          <ticker value="SJM"/>
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        <curCd>USD</curCd>
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        <name>NEXTERA ENERGY CAP. H F2V</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
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          <ticker value="NEE"/>
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        <name>GENERAL MOTORS FINL 4.90%</name>
        <lei>5493008B6JBRUJ90QL97</lei>
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        <name>FREDDIE MAC POOL 6.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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      <invstOrSec>
        <name>KRAFT HEINZ FOODS C 5.20%</name>
        <lei>5493003STKEZ2S0RNU91</lei>
        <title>KRAFT HEINZ FOODS C 5.20%</title>
        <cusip>50077LBM7</cusip>
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      <invstOrSec>
        <name>MORGAN STANLEY DIRE 6.15%</name>
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        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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      <invstOrSec>
        <name>FISERV INC 5.375%</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>FISERV INC 5.375%</title>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179TV69</cusip>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>51619.22</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PRUDENTIAL FINL. I 3.935%</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>PRUDENTIAL FINL. I 3.935%</title>
        <cusip>744320BA9</cusip>
        <identifiers>
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          <ticker value="PRU"/>
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        <balance>335000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>254417.41</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ASIAN DEV. BANK 4.50%</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>ASIAN DEV. BANK 4.50%</title>
        <cusip>045167FZ1</cusip>
        <identifiers>
          <isin value="US045167FZ16"/>
          <ticker value="ASIA"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>704739.17</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137HAMB9</cusip>
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          <ticker value="FHMS"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198580.04</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
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          <ticker value="FNMA"/>
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        <units>PA</units>
        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.50%</title>
        <cusip>3132E0NH1</cusip>
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          <isin value="US3132E0NH19"/>
          <ticker value="FHLMC"/>
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        <balance>461568.81</balance>
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        <curCd>USD</curCd>
        <valUSD>467924.34</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PUBLIC SERV. ELEC. 4.05%</name>
        <lei>549300RUHPVD434XUK18</lei>
        <title>PUBLIC SERV. ELEC. 4.05%</title>
        <cusip>74456QBV7</cusip>
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          <ticker value="PEG"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>238913</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>Fixed</couponKind>
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        <name>LOWE S COS INC 3.65%</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>LOWE S COS INC 3.65%</title>
        <cusip>548661DR5</cusip>
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          <ticker value="LOW"/>
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        <balance>76000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74225.87</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>GINNIE MAE II POOL 6.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.50%</title>
        <cusip>36179YHU1</cusip>
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          <isin value="US36179YHU10"/>
          <ticker value="GNR"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>184027.74</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WILLIAMS COS INC/TH 5.15%</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>WILLIAMS COS INC/TH 5.15%</title>
        <cusip>88339WAC0</cusip>
        <identifiers>
          <isin value="US88339WAC01"/>
          <ticker value="WMB"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499570.34</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>PACIFICORP 5.80%</name>
        <lei>SGY07Y7FNYBNLM6Z1M11</lei>
        <title>PACIFICORP 5.80%</title>
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          <isin value="US695114DE50"/>
          <ticker value="BRKHEC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95373.42</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PEH5</cusip>
        <identifiers>
          <isin value="US46647PEH55"/>
          <ticker value="JPM"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1040113.87</valUSD>
        <pctVal>0.0345311605</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.766000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>GINNIE MAE II POOL 5.00%</name>
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        <name>GINNIE MAE II POOL 6.50%</name>
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        <name>FREDDIE MAC MULTIF 2.519%</name>
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        <name>AXIS SPECIALTY FIN. L F2V</name>
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        <name>FREDDIE MAC POOL 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>ARES CAP. CORP 5.95%</name>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>KOREA DEV. BANK/TH 4.375%</name>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MERCK INC 5.15%</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
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        <name>APPLE INC 4.00%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
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        <name>MCDONALD S CORP 5.00%</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
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        <curCd>USD</curCd>
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        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>EATON CORP 4.35%</name>
        <lei>0NZWDMRCE180888QQE14</lei>
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        <name>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>36179YAR5</cusip>
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          <ticker value="GNR"/>
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        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3132DQHM1</cusip>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PUBLIC STORAGE OPE 5.125%</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>PUBLIC STORAGE OPE 5.125%</title>
        <cusip>74460WAF4</cusip>
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          <ticker value="PSA"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VALE O/SEAS. LTD 6.40%</name>
        <lei>254900BA3U6G5DNV5V04</lei>
        <title>VALE O/SEAS. LTD 6.40%</title>
        <cusip>91911TAS2</cusip>
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          <ticker value="VALEBZ"/>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
        <valUSD>408200</valUSD>
        <pctVal>0.0135519967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-06-28</maturityDt>
          <couponKind>Fixed</couponKind>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>31297LHM5</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>67034.67</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31402TWN1</cusip>
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          <isin value="US31402TWN17"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>54372.38</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SYNCHRONY CARD FNDG 4.49%</name>
        <lei>N/A</lei>
        <title>SYNCHRONY CARD FNDG 4.49%</title>
        <cusip>87166PAQ4</cusip>
        <identifiers>
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          <ticker value="SYNIT"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>100014.93</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BURLINGTON NORTHERN 5.80%</name>
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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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138YSTF3</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>155821.94</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140Q7VN4</cusip>
        <identifiers>
          <isin value="US3140Q7VN45"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>648277.31</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>3131XJ5L2</cusip>
        <identifiers>
          <isin value="US3131XJ5L25"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>313510.87</valUSD>
        <pctVal>0.0104083740</pctVal>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3131Y25E4</cusip>
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          <isin value="US3131Y25E45"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>129464.66</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>GENERAL ELEC. CO 4.90%</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>GENERAL ELEC. CO 4.90%</title>
        <cusip>369604CA9</cusip>
        <identifiers>
          <isin value="US369604CA96"/>
          <ticker value="GE"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>249661.24</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31418FQP5</cusip>
        <identifiers>
          <isin value="US31418FQP52"/>
          <ticker value="FNMA"/>
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        <balance>229792.38</balance>
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        <curCd>USD</curCd>
        <valUSD>233520.51</valUSD>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>US BANCORP F2F</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP F2F</title>
        <cusip>91159HJY7</cusip>
        <identifiers>
          <isin value="US91159HJY71"/>
          <ticker value="USB"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>295722.65</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.033000000000</annualizedRt>
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        <name>US BANCORP F2F</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP F2F</title>
        <cusip>91159HJW1</cusip>
        <identifiers>
          <isin value="US91159HJW16"/>
          <ticker value="USB"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>492537.7</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-26</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3140JNX39</cusip>
        <identifiers>
          <isin value="US3140JNX390"/>
          <ticker value="FNMA"/>
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        <balance>409261.48</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>386928.13</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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      <invstOrSec>
        <name>BANK 2020-BNK28 1.844%</name>
        <lei>N/A</lei>
        <title>BANK 2020-BNK28 1.844%</title>
        <cusip>06540YAH2</cusip>
        <identifiers>
          <isin value="US06540YAH27"/>
          <ticker value="BANK"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>442277.1</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-03-15</maturityDt>
          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>SIMON PROP. GRP. LP 6.75%</name>
        <lei>MR92GTD0MJTTTTQDVG45</lei>
        <title>SIMON PROP. GRP. LP 6.75%</title>
        <cusip>828807CE5</cusip>
        <identifiers>
          <isin value="US828807CE50"/>
          <ticker value="SPG"/>
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        <balance>242000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>273004.78</valUSD>
        <pctVal>0.0090635960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENTERPRISE PRODS. O 5.95%</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>ENTERPRISE PRODS. O 5.95%</title>
        <cusip>29379VAT0</cusip>
        <identifiers>
          <isin value="US29379VAT08"/>
          <ticker value="EPD"/>
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        <balance>40000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>41694.59</valUSD>
        <pctVal>0.0013842355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHERN CO GAS CA 5.875%</name>
        <lei>E8CD46SWUD2TSN8PA636</lei>
        <title>SOUTHERN CO GAS CA 5.875%</title>
        <cusip>001192AH6</cusip>
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          <ticker value="SO"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PHILIPPINE GOVERNME 5.00%</name>
        <lei>529900RAHBALMYIJ3T08</lei>
        <title>PHILIPPINE GOVERNME 5.00%</title>
        <cusip>718286BW6</cusip>
        <identifiers>
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        <curCd>USD</curCd>
        <valUSD>488342.92</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3140HGL21</cusip>
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        <curCd>USD</curCd>
        <valUSD>322957.23</valUSD>
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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>CALIFORNIA ENDOWME 2.498%</name>
        <lei>54930046FICHFANLFV69</lei>
        <title>CALIFORNIA ENDOWME 2.498%</title>
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        <identifiers>
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          <ticker value="CAENDW"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>59910.56</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>Fixed</couponKind>
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      <invstOrSec>
        <name>ILLINOIS TOOL WORKS 3.90%</name>
        <lei>76NA4I14SZCFAYMNSV04</lei>
        <title>ILLINOIS TOOL WORKS 3.90%</title>
        <cusip>452308AR0</cusip>
        <identifiers>
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          <ticker value="ITW"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83412.51</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WINTRUST FINANCIAL 4.85%</name>
        <lei>Q774KI4AW80FHFW33O61</lei>
        <title>WINTRUST FINANCIAL 4.85%</title>
        <cusip>97650WAG3</cusip>
        <identifiers>
          <isin value="US97650WAG33"/>
          <ticker value="WTFC"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99463.06</valUSD>
        <pctVal>0.0033021143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-06</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133KYVK2</cusip>
        <identifiers>
          <isin value="US3133KYVK27"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1100863.36</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>31418D6G2</cusip>
        <identifiers>
          <isin value="US31418D6G24"/>
          <ticker value="FNMA"/>
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        <balance>3313841.33</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3019588.33</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CIGNA GROUP/THE 4.375%</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>CIGNA GROUP/THE 4.375%</title>
        <cusip>125523AH3</cusip>
        <identifiers>
          <isin value="US125523AH38"/>
          <ticker value="CI"/>
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        <balance>1150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1145236.01</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>COCA-COLA CO/THE 2.125%</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>COCA-COLA CO/THE 2.125%</title>
        <cusip>191216CM0</cusip>
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          <isin value="US191216CM09"/>
          <ticker value="KO"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>227519.27</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3140LTA61</cusip>
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          <isin value="US3140LTA615"/>
          <ticker value="FN"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6407795.45</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 1.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 1.50%</title>
        <cusip>36179WP85</cusip>
        <identifiers>
          <isin value="US36179WP853"/>
          <ticker value="GNR"/>
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        <balance>350808.53</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>275830.28</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SIMON PROPERTY GROU 2.45%</name>
        <lei>MR92GTD0MJTTTTQDVG45</lei>
        <title>SIMON PROPERTY GROU 2.45%</title>
        <cusip>828807DF1</cusip>
        <identifiers>
          <isin value="US828807DF17"/>
          <ticker value="SPG"/>
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        <balance>1001000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>938069.5</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>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PRUDENTIAL FINL. IN 3.70%</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>PRUDENTIAL FINL. IN 3.70%</title>
        <cusip>74432QCF0</cusip>
        <identifiers>
          <isin value="US74432QCF00"/>
          <ticker value="PRU"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>144898.98</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3133KYS83</cusip>
        <identifiers>
          <isin value="US3133KYS838"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>92603.68</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418DMG4</cusip>
        <identifiers>
          <isin value="US31418DMG42"/>
          <ticker value="FNMA"/>
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        <balance>75061.13</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>69197.52</valUSD>
        <pctVal>0.0022973164</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <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>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179VQS2</cusip>
        <identifiers>
          <isin value="US36179VQS24"/>
          <ticker value="GNR"/>
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        <balance>1430109.3</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1222981.34</valUSD>
        <pctVal>0.0406022515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</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>ONCOR ELEC. DELIVER 3.70%</name>
        <lei>549300SP2X2BS1KERD24</lei>
        <title>ONCOR ELEC. DELIVER 3.70%</title>
        <cusip>68233JBV5</cusip>
        <identifiers>
          <isin value="US68233JBV52"/>
          <ticker value="ONCRTX"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>219203.08</valUSD>
        <pctVal>0.0072774116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PROCTER &amp; GAMBLE CO 2.30%</name>
        <lei>2572IBTT8CCZW6AU4141</lei>
        <title>PROCTER &amp; GAMBLE CO 2.30%</title>
        <cusip>742718FW4</cusip>
        <identifiers>
          <isin value="US742718FW49"/>
          <ticker value="PG"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179949.91</valUSD>
        <pctVal>0.0059742297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE I POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 5.50%</title>
        <cusip>36291XSD2</cusip>
        <identifiers>
          <isin value="US36291XSD20"/>
          <ticker value="GNR"/>
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        <balance>34592.8</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34613.5</valUSD>
        <pctVal>0.0011491476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JOHNSON &amp; JOHNSON 2.10%</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>JOHNSON &amp; JOHNSON 2.10%</title>
        <cusip>478160CR3</cusip>
        <identifiers>
          <isin value="US478160CR35"/>
          <ticker value="JNJ"/>
        </identifiers>
        <balance>460000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>321965.04</valUSD>
        <pctVal>0.0106890474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>31334YCU9</cusip>
        <identifiers>
          <isin value="US31334YCU91"/>
          <ticker value="FHLB"/>
        </identifiers>
        <balance>234115.55</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>221897.64</valUSD>
        <pctVal>0.0073668694</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BELL TELEPHONE CO O 5.10%</name>
        <lei>5493000G3EFX9S7TDE29</lei>
        <title>BELL TELEPHONE CO O 5.10%</title>
        <cusip>0778FPAL3</cusip>
        <identifiers>
          <isin value="US0778FPAL33"/>
          <ticker value="BCECN"/>
        </identifiers>
        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>799657.58</valUSD>
        <pctVal>0.0265481550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>APPLE INC 4.85%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC 4.85%</title>
        <cusip>037833EW6</cusip>
        <identifiers>
          <isin value="US037833EW60"/>
          <ticker value="AAPL"/>
        </identifiers>
        <balance>900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>825567.26</valUSD>
        <pctVal>0.0274083409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNUM GROUP 4.125%</name>
        <lei>549300E32YFDO6TZ8R31</lei>
        <title>UNUM GROUP 4.125%</title>
        <cusip>91529YAR7</cusip>
        <identifiers>
          <isin value="US91529YAR71"/>
          <ticker value="UNM"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>149462.34</valUSD>
        <pctVal>0.0049620606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</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>ESSENTIAL PROPS. LP 2.95%</name>
        <lei>254900XX9FNFCDE1NX02</lei>
        <title>ESSENTIAL PROPS. LP 2.95%</title>
        <cusip>29670VAA7</cusip>
        <identifiers>
          <isin value="US29670VAA70"/>
          <ticker value="EPRT"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>90323.53</valUSD>
        <pctVal>0.0029986874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.950000000000</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>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31418ES50</cusip>
        <identifiers>
          <isin value="US31418ES506"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>541943.18</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>547494.4</valUSD>
        <pctVal>0.0181764877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CVS HEALTH CORP 6.00%</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 6.00%</title>
        <cusip>126650EA4</cusip>
        <identifiers>
          <isin value="US126650EA42"/>
          <ticker value="CVS"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>390829.05</valUSD>
        <pctVal>0.0129752915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418EV64</cusip>
        <identifiers>
          <isin value="US31418EV641"/>
          <ticker value="FNMA"/>
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        <balance>1863939.52</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1793398.32</valUSD>
        <pctVal>0.0595397552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.50%</title>
        <cusip>3132E0CU4</cusip>
        <identifiers>
          <isin value="US3132E0CU49"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>798321.01</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>810471.54</valUSD>
        <pctVal>0.0269071720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140QKDT2</cusip>
        <identifiers>
          <isin value="US3140QKDT21"/>
          <ticker value="FNMA"/>
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        <balance>573901.99</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501511.99</valUSD>
        <pctVal>0.0166498991</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>3140XMBE5</cusip>
        <identifiers>
          <isin value="US3140XMBE52"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>260552.23</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>265548.77</valUSD>
        <pctVal>0.0088160609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PFIZER INV. ENTS. P 5.30%</name>
        <lei>5493000FQO8XF9C0RT95</lei>
        <title>PFIZER INV. ENTS. P 5.30%</title>
        <cusip>716973AG7</cusip>
        <identifiers>
          <isin value="US716973AG71"/>
          <ticker value="PFE"/>
        </identifiers>
        <balance>1010000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>951496.63</valUSD>
        <pctVal>0.0315891209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.300000000000</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>PROLOGIS LP 4.875%</name>
        <lei>GL16H1DHB0QSHP25F723</lei>
        <title>PROLOGIS LP 4.875%</title>
        <cusip>74340XCG4</cusip>
        <identifiers>
          <isin value="US74340XCG43"/>
          <ticker value="PLD"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>151299.2</valUSD>
        <pctVal>0.0050230433</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ABBVIE INC 5.40%</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBVIE INC 5.40%</title>
        <cusip>00287YDW6</cusip>
        <identifiers>
          <isin value="US00287YDW66"/>
          <ticker value="ABBV"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>672672.46</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LLOYDS BANKING GRP. P F2V</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>LLOYDS BANKING GRP. P F2V</title>
        <cusip>53944YBC6</cusip>
        <identifiers>
          <isin value="US53944YBC66"/>
          <ticker value="LLOYDS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503430.56</valUSD>
        <pctVal>0.0167135945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.087000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140LPEG3</cusip>
        <identifiers>
          <isin value="US3140LPEG33"/>
          <ticker value="FN"/>
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        <balance>1634602.13</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1318531.24</valUSD>
        <pctVal>0.0437744512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMGEN INC 2.00%</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>AMGEN INC 2.00%</title>
        <cusip>031162CZ1</cusip>
        <identifiers>
          <isin value="US031162CZ14"/>
          <ticker value="AMGN"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>864140.49</valUSD>
        <pctVal>0.0286889492</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>31418D7E6</cusip>
        <identifiers>
          <isin value="US31418D7E66"/>
          <ticker value="FNMA"/>
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        <balance>3037092.88</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2437995.54</valUSD>
        <pctVal>0.0809399986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WESTPAC BANKING CO 1.953%</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>WESTPAC BANKING CO 1.953%</title>
        <cusip>961214EW9</cusip>
        <identifiers>
          <isin value="US961214EW94"/>
          <ticker value="WSTP"/>
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        <balance>308000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>291322.83</valUSD>
        <pctVal>0.0096717443</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.953000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DOMINION ENERGY INC F2V</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>DOMINION ENERGY INC F2V</title>
        <cusip>25746UDV8</cusip>
        <identifiers>
          <isin value="US25746UDV89"/>
          <ticker value="D"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>257834.5</valUSD>
        <pctVal>0.0085599517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CENCORA INC 4.85%</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>CENCORA INC 4.85%</title>
        <cusip>03073EAW5</cusip>
        <identifiers>
          <isin value="US03073EAW57"/>
          <ticker value="COR"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>150902.67</valUSD>
        <pctVal>0.0050098787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PROVINCE OF QUEBEC 4.50%</name>
        <lei>549300WN65YFEQH74Y36</lei>
        <title>PROVINCE OF QUEBEC 4.50%</title>
        <cusip>748148SE4</cusip>
        <identifiers>
          <isin value="US748148SE43"/>
          <ticker value="Q"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>498998.35</valUSD>
        <pctVal>0.0165664478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GLS6</cusip>
        <identifiers>
          <isin value="US06051GLS65"/>
          <ticker value="BAC"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>511662.26</valUSD>
        <pctVal>0.0169868820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.819000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>F&amp;G ANNUITIES &amp; LIF 7.40%</name>
        <lei>N/A</lei>
        <title>F&amp;G ANNUITIES &amp; LIF 7.40%</title>
        <cusip>30190AAC8</cusip>
        <identifiers>
          <isin value="US30190AAC80"/>
          <ticker value="FG"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102809.48</valUSD>
        <pctVal>0.0034132135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>36179YHS6</cusip>
        <identifiers>
          <isin value="US36179YHS63"/>
          <ticker value="GNR"/>
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        <balance>532932.46</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>540836.13</valUSD>
        <pctVal>0.0179554371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137HAQ74</cusip>
        <identifiers>
          <isin value="US3137HAQ748"/>
          <ticker value="FHMS"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100390.13</valUSD>
        <pctVal>0.0033328925</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.740000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SANTANDER HLDGS. USA F2F</name>
        <lei>549300SMVCQN2P0O6I58</lei>
        <title>SANTANDER HLDGS. USA F2F</title>
        <cusip>80282KBJ4</cusip>
        <identifiers>
          <isin value="US80282KBJ43"/>
          <ticker value="SANUSA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>513613.79</valUSD>
        <pctVal>0.0170516717</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.174000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="528448.500000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>VIRGINIA ELEC. AND 5.35%</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>VIRGINIA ELEC. AND 5.35%</title>
        <cusip>927804GQ1</cusip>
        <identifiers>
          <isin value="US927804GQ14"/>
          <ticker value="D"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>281155.43</valUSD>
        <pctVal>0.0093341927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PEG7</cusip>
        <identifiers>
          <isin value="US46647PEG72"/>
          <ticker value="JPM"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510952.55</valUSD>
        <pctVal>0.0169633201</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.581000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 6.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 6.50%</title>
        <cusip>3132DSPC0</cusip>
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          <isin value="US3132DSPC07"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>378243.7</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. IN F2F</title>
        <cusip>38141GA95</cusip>
        <identifiers>
          <isin value="US38141GA955"/>
          <ticker value="GS"/>
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        <curCd>USD</curCd>
        <valUSD>725870.19</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>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GENERAL MOTORS CO 5.60%</name>
        <lei>54930070NSV60J38I987</lei>
        <title>GENERAL MOTORS CO 5.60%</title>
        <cusip>37045VAZ3</cusip>
        <identifiers>
          <isin value="US37045VAZ31"/>
          <ticker value="GM"/>
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        <balance>183000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>187298.02</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HUNTINGTON BANCSHARES F2F</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>HUNTINGTON BANCSHARES F2F</title>
        <cusip>446150BB9</cusip>
        <identifiers>
          <isin value="US446150BB90"/>
          <ticker value="HBAN"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499092.82</valUSD>
        <pctVal>0.0165695841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-04</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179XFG6</cusip>
        <identifiers>
          <isin value="US36179XFG60"/>
          <ticker value="GNR"/>
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        <balance>1483057.22</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1394175.55</valUSD>
        <pctVal>0.0462857972</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KYNDRYL HLDGS. INC 2.70%</name>
        <lei>549300LQ4LWX2R8ZV130</lei>
        <title>KYNDRYL HLDGS. INC 2.70%</title>
        <cusip>50155QAK6</cusip>
        <identifiers>
          <isin value="US50155QAK67"/>
          <ticker value="KD"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>469820.46</valUSD>
        <pctVal>0.0155977592</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.700000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>3618N5C49</cusip>
        <identifiers>
          <isin value="US3618N5C494"/>
          <ticker value="GNR"/>
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        <balance>1286607.07</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1237521.14</valUSD>
        <pctVal>0.0410849642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <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>TARGET CORP 5.25%</name>
        <lei>8WDDFXB5T1Z6J0XC1L66</lei>
        <title>TARGET CORP 5.25%</title>
        <cusip>87612EBV7</cusip>
        <identifiers>
          <isin value="US87612EBV74"/>
          <ticker value="TGT"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>254468.63</valUSD>
        <pctVal>0.0084482068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="259426.930000000000"/>
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      <invstOrSec>
        <name>CONOCOPHILLIPS CO 3.758%</name>
        <lei>6VJJ5GQWIRDQ06DUXG89</lei>
        <title>CONOCOPHILLIPS CO 3.758%</title>
        <cusip>20826FBC9</cusip>
        <identifiers>
          <isin value="US20826FBC95"/>
          <ticker value="COP"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80845.34</valUSD>
        <pctVal>0.0026840171</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.758000000000</annualizedRt>
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          <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>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>3132DWFF5</cusip>
        <identifiers>
          <isin value="US3132DWFF59"/>
          <ticker value="FHLMC"/>
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        <balance>2091461.29</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2017199.1</valUSD>
        <pctVal>0.0669698077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <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>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179MX39</cusip>
        <identifiers>
          <isin value="US36179MX395"/>
          <ticker value="GNR"/>
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        <balance>155546.72</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>141921.62</valUSD>
        <pctVal>0.0047117132</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHERN CALIFORNIA 3.90%</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>SOUTHERN CALIFORNIA 3.90%</title>
        <cusip>842400FW8</cusip>
        <identifiers>
          <isin value="US842400FW81"/>
          <ticker value="EIX"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>114983.23</valUSD>
        <pctVal>0.0038173747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GEORGIA-PACIFIC LLC 7.75%</name>
        <lei>L2EVHWFHVAQK72TMH265</lei>
        <title>GEORGIA-PACIFIC LLC 7.75%</title>
        <cusip>373298BR8</cusip>
        <identifiers>
          <isin value="US373298BR83"/>
          <ticker value="GP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>548100.91</valUSD>
        <pctVal>0.0181966235</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TENNESSEE GAS PIPEL 7.00%</name>
        <lei>N/A</lei>
        <title>TENNESSEE GAS PIPEL 7.00%</title>
        <cusip>880451AV1</cusip>
        <identifiers>
          <isin value="US880451AV10"/>
          <ticker value="KMI"/>
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        <balance>295000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>309488.07</valUSD>
        <pctVal>0.0102748194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VALERO ENERGY CORP 7.50%</name>
        <lei>549300XTO5VR8SKV1V74</lei>
        <title>VALERO ENERGY CORP 7.50%</title>
        <cusip>91913YAE0</cusip>
        <identifiers>
          <isin value="US91913YAE05"/>
          <ticker value="VLO"/>
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        <balance>765000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>864755.93</valUSD>
        <pctVal>0.0287093814</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PNC FINL. SERVS. GRP. F2F</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC FINL. SERVS. GRP. F2F</title>
        <cusip>693475BX2</cusip>
        <identifiers>
          <isin value="US693475BX24"/>
          <ticker value="PNC"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>714775.8</valUSD>
        <pctVal>0.0237301305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.492000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>3140XQA72</cusip>
        <identifiers>
          <isin value="US3140XQA723"/>
          <ticker value="FNMA"/>
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        <balance>497038.08</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>505334.78</valUSD>
        <pctVal>0.0167768135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANADIAN NATIONAL R 6.90%</name>
        <lei>3SU7BEP7TH9YEQOZCS77</lei>
        <title>CANADIAN NATIONAL R 6.90%</title>
        <cusip>136375BD3</cusip>
        <identifiers>
          <isin value="US136375BD37"/>
          <ticker value="CNRCN"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26148.9</valUSD>
        <pctVal>0.0008681279</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HESS CORP 7.125%</name>
        <lei>UASVRYNXNK17ULIGK870</lei>
        <title>HESS CORP 7.125%</title>
        <cusip>023551AM6</cusip>
        <identifiers>
          <isin value="US023551AM66"/>
          <ticker value="HES"/>
        </identifiers>
        <balance>390000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>438324.87</valUSD>
        <pctVal>0.0145521244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CANADIAN NATURAL RE 6.45%</name>
        <lei>549300T15RIMIKZC5Q38</lei>
        <title>CANADIAN NATURAL RE 6.45%</title>
        <cusip>136385AE1</cusip>
        <identifiers>
          <isin value="US136385AE19"/>
          <ticker value="CNQCN"/>
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        <balance>135000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145744.41</valUSD>
        <pctVal>0.0048386275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REYNOLDS AMERICAN I 6.15%</name>
        <lei>02S2RPPVO9RP4NEU2740</lei>
        <title>REYNOLDS AMERICAN I 6.15%</title>
        <cusip>761713AZ9</cusip>
        <identifiers>
          <isin value="US761713AZ95"/>
          <ticker value="BATSLN"/>
        </identifiers>
        <balance>65000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65882.37</valUSD>
        <pctVal>0.0021872554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTEL CORP 5.70%</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>INTEL CORP 5.70%</title>
        <cusip>458140CJ7</cusip>
        <identifiers>
          <isin value="US458140CJ73"/>
          <ticker value="INTC"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>660140.58</valUSD>
        <pctVal>0.0219162737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TUCSON ELEC. POWER 5.50%</name>
        <lei>YLF139GXSRKPBBTNZL03</lei>
        <title>TUCSON ELEC. POWER 5.50%</title>
        <cusip>898813AV2</cusip>
        <identifiers>
          <isin value="US898813AV23"/>
          <ticker value="FTSCN"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>191023.45</valUSD>
        <pctVal>0.0063418647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MITSUBISHI UFJ FINL. F2V</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>MITSUBISHI UFJ FINL. F2V</title>
        <cusip>606822CT9</cusip>
        <identifiers>
          <isin value="US606822CT96"/>
          <ticker value="MUFG"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1020942.14</valUSD>
        <pctVal>0.0338946705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.475000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="104056.080000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>ENBRIDGE INC 5.70%</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>ENBRIDGE INC 5.70%</title>
        <cusip>29250NBR5</cusip>
        <identifiers>
          <isin value="US29250NBR52"/>
          <ticker value="ENBCN"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>309765.74</valUSD>
        <pctVal>0.0102840379</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WASTE MGT. INC 4.95%</name>
        <lei>549300YX8JIID70NFS41</lei>
        <title>WASTE MGT. INC 4.95%</title>
        <cusip>94106LBX6</cusip>
        <identifiers>
          <isin value="US94106LBX64"/>
          <ticker value="WM"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>402617.06</valUSD>
        <pctVal>0.0133666464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133GES82</cusip>
        <identifiers>
          <isin value="US3133GES820"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>630351.67</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>574767.38</valUSD>
        <pctVal>0.0190819344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WILLIAMS COS INC/TH 5.30%</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>WILLIAMS COS INC/TH 5.30%</title>
        <cusip>969457CS7</cusip>
        <identifiers>
          <isin value="US969457CS75"/>
          <ticker value="WMB"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249403.38</valUSD>
        <pctVal>0.0082800435</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEXICO GOV. INTL. 6.125%</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEXICO GOV. INTL. 6.125%</title>
        <cusip>91087BBR0</cusip>
        <identifiers>
          <isin value="US91087BBR06"/>
          <ticker value="MEX"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>196200</valUSD>
        <pctVal>0.0065137230</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 6.00%</title>
        <cusip>3128M4R88</cusip>
        <identifiers>
          <isin value="US3128M4R887"/>
          <ticker value="FHLMC"/>
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        <balance>3544.03</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3712.99</valUSD>
        <pctVal>0.0001232691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179TUA1</cusip>
        <identifiers>
          <isin value="US36179TUA14"/>
          <ticker value="GNR"/>
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        <balance>405860.46</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>372874.83</valUSD>
        <pctVal>0.0123792221</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HCA INC 5.75%</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA INC 5.75%</title>
        <cusip>404119DB2</cusip>
        <identifiers>
          <isin value="US404119DB22"/>
          <ticker value="HCA"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>309247.13</valUSD>
        <pctVal>0.0102668204</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SELECTIVE INS. GRP. 5.90%</name>
        <lei>549300R3WGJWLE40R258</lei>
        <title>SELECTIVE INS. GRP. 5.90%</title>
        <cusip>816300AJ6</cusip>
        <identifiers>
          <isin value="US816300AJ62"/>
          <ticker value="SIGI"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103537.7</valUSD>
        <pctVal>0.0034373899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.900000000000</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>OMNICOM GRP. INC 2.40%</name>
        <lei>HKUPACFHSSASQK8HLS17</lei>
        <title>OMNICOM GRP. INC 2.40%</title>
        <cusip>681919BR6</cusip>
        <identifiers>
          <isin value="US681919BR62"/>
          <ticker value="OMC"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>448245.04</valUSD>
        <pctVal>0.0148814681</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EUROPEAN INV. BANK 3.75%</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>EUROPEAN INV. BANK 3.75%</title>
        <cusip>298785KN5</cusip>
        <identifiers>
          <isin value="US298785KN51"/>
          <ticker value="EIB"/>
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        <balance>900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>882413.08</valUSD>
        <pctVal>0.0292955883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="198383.440000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>GEORGIA POWER CO 5.20%</name>
        <lei>D981X4Z4RWS7PDMJUZ03</lei>
        <title>GEORGIA POWER CO 5.20%</title>
        <cusip>373334LB5</cusip>
        <identifiers>
          <isin value="US373334LB51"/>
          <ticker value="SO"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>303606.66</valUSD>
        <pctVal>0.0100795601</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>31406RRQ0</cusip>
        <identifiers>
          <isin value="US31406RRQ01"/>
          <ticker value="FNMA"/>
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        <balance>6319.96</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6541.34</valUSD>
        <pctVal>0.0002171686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179QPH8</cusip>
        <identifiers>
          <isin value="US36179QPH82"/>
          <ticker value="GNR"/>
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        <balance>350187.77</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>336237.19</valUSD>
        <pctVal>0.0111628743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SIMON PROP. GRP. LP 4.30%</name>
        <lei>MR92GTD0MJTTTTQDVG45</lei>
        <title>SIMON PROP. GRP. LP 4.30%</title>
        <cusip>828807EB9</cusip>
        <identifiers>
          <isin value="US828807EB93"/>
          <ticker value="SPG"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>590045.3</valUSD>
        <pctVal>0.0195891522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EXETER AUTOMOBILE R 5.00%</name>
        <lei>N/A</lei>
        <title>EXETER AUTOMOBILE R 5.00%</title>
        <cusip>30168HAF4</cusip>
        <identifiers>
          <isin value="US30168HAF47"/>
          <ticker value="EART"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49381.19</valUSD>
        <pctVal>0.0016394261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE I POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 5.00%</title>
        <cusip>36296QV55</cusip>
        <identifiers>
          <isin value="US36296QV558"/>
          <ticker value="GNR"/>
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        <balance>78736.95</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79372.47</valUSD>
        <pctVal>0.0026351187</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>31418MV90</cusip>
        <identifiers>
          <isin value="US31418MV909"/>
          <ticker value="FNMA"/>
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        <balance>15480.04</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16199.59</valUSD>
        <pctVal>0.0005378167</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLUB CAP. PRIVATE 5.60%</name>
        <lei>254900B5KBW6OY1F9951</lei>
        <title>GOLUB CAP. PRIVATE 5.60%</title>
        <cusip>38179RAG0</cusip>
        <identifiers>
          <isin value="US38179RAG02"/>
          <ticker value="GCRED"/>
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        <balance>810000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>775484.96</valUSD>
        <pctVal>0.0257456384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCEDES-BENZ AUTO 3.93%</name>
        <lei>N/A</lei>
        <title>MERCEDES-BENZ AUTO 3.93%</title>
        <cusip>58770YAD3</cusip>
        <identifiers>
          <isin value="US58770YAD31"/>
          <ticker value="MBALT"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49606.65</valUSD>
        <pctVal>0.0016469112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.930000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOYOTA AUTO RECEIVA 3.86%</name>
        <lei>N/A</lei>
        <title>TOYOTA AUTO RECEIVA 3.86%</title>
        <cusip>89240KAD0</cusip>
        <identifiers>
          <isin value="US89240KAD00"/>
          <ticker value="TAOT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99039.66</valUSD>
        <pctVal>0.0032880577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.860000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 6.00%</title>
        <cusip>3142JCBC3</cusip>
        <identifiers>
          <isin value="US3142JCBC37"/>
          <ticker value="FHLMC"/>
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        <balance>142549.44</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146296.6</valUSD>
        <pctVal>0.0048569599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>31410LBB7</cusip>
        <identifiers>
          <isin value="US31410LBB71"/>
          <ticker value="FNMA"/>
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        <balance>22790.78</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23910.15</valUSD>
        <pctVal>0.0007938027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>36202EPK9</cusip>
        <identifiers>
          <isin value="US36202EPK90"/>
          <ticker value="GNR"/>
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        <balance>7284.69</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7360.67</valUSD>
        <pctVal>0.0002443699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. IN F2F</title>
        <cusip>38145GAS9</cusip>
        <identifiers>
          <isin value="US38145GAS93"/>
          <ticker value="GS"/>
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        <balance>610000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>595574.2</valUSD>
        <pctVal>0.0197727084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.065000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 6.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.50%</title>
        <cusip>36202EW62</cusip>
        <identifiers>
          <isin value="US36202EW626"/>
          <ticker value="GNR"/>
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        <balance>10591.3</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11365.89</valUSD>
        <pctVal>0.0003773408</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NUTRIEN LTD 5.875%</name>
        <lei>5493002QQ7GD21OWF963</lei>
        <title>NUTRIEN LTD 5.875%</title>
        <cusip>67077MAF5</cusip>
        <identifiers>
          <isin value="US67077MAF59"/>
          <ticker value="NTRCN"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>US BANCORP 3.90%</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
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          <ticker value="USB"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>VENTAS REALTY LP 5.70%</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
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        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>GINNIE MAE II POOL 5.00%</name>
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        <name>GINNIE MAE I POOL 4.00%</name>
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        <name>NORTHWESTERN UNIVE 4.643%</name>
        <lei>OBWWNZE695DUK77DTI34</lei>
        <title>NORTHWESTERN UNIVE 4.643%</title>
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        <curCd>USD</curCd>
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        <name>ROGERS COMMUNICATIO 5.45%</name>
        <lei>5493000M6Z4XFIP6PF03</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <name>MOSAIC CO/THE 5.45%</name>
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        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>CUMMINS INC 4.875%</name>
        <lei>ZUNI8PYC725B6H8JU438</lei>
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        <name>SPECTRA ENERGY PART 5.95%</name>
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          <ticker value="ENBCN"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>FREDDIE MAC GOLD PO 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3128M6CY2</cusip>
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        <name>GINNIE MAE I POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 4.50%</title>
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          <ticker value="GNR"/>
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        <name>WILLIAMS COS INC/TH 5.80%</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
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        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>DOMINION ENERGY INC 4.90%</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>DOMINION ENERGY INC 4.90%</title>
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          <ticker value="D"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3138M0ST8</cusip>
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      <invstOrSec>
        <name>DTE ELEC. CO 4.05%</name>
        <lei>9N0FWODEJVKHC2DYLO03</lei>
        <title>DTE ELEC. CO 4.05%</title>
        <cusip>23338VAH9</cusip>
        <identifiers>
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          <ticker value="DTE"/>
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        <curCd>USD</curCd>
        <valUSD>239062.68</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFA 3.90%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFA 3.90%</title>
        <cusip>3137FEZU7</cusip>
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          <isin value="US3137FEZU77"/>
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        <curCd>USD</curCd>
        <valUSD>148595.87</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3131Y9ZL0</cusip>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>BALTIMORE GAS AND E 5.40%</name>
        <lei>88V8C2WYSOD1SPSSLH72</lei>
        <title>BALTIMORE GAS AND E 5.40%</title>
        <cusip>059165EQ9</cusip>
        <identifiers>
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          <ticker value="EXC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189764.88</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</annualizedRt>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179MK74</cusip>
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          <isin value="US36179MK749"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>270079.1</valUSD>
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      <invstOrSec>
        <name>SOUTHERN CALIFORNI 3.75%</name>
        <lei>XY0N0J73VHV5F4CUJV89</lei>
        <title>SOUTHERN CALIFORNI 3.75%</title>
        <cusip>842434CK6</cusip>
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          <ticker value="SRE"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>198052.27</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>3138AAZU8</cusip>
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          <isin value="US3138AAZU83"/>
          <ticker value="FNMA"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>52892.55</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>3138EGP40</cusip>
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          <ticker value="FNMA"/>
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        <balance>23100.22</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23767.39</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>APPLE INC 3.85%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC 3.85%</title>
        <cusip>037833AL4</cusip>
        <identifiers>
          <isin value="US037833AL42"/>
          <ticker value="AAPL"/>
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        <balance>305000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>252366.75</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>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>HALLIBURTON CO 4.75%</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>HALLIBURTON CO 4.75%</title>
        <cusip>406216BE0</cusip>
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          <ticker value="HAL"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>36202FZ58</cusip>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3138X02X5</cusip>
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          <ticker value="FNMA"/>
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      <invstOrSec>
        <name>CME GRP. INC 5.30%</name>
        <lei>LCZ7XYGSLJUHFXXNXD88</lei>
        <title>CME GRP. INC 5.30%</title>
        <cusip>12572QAF2</cusip>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PHILIP MORRIS INTL 4.875%</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTL 4.875%</title>
        <cusip>718172BD0</cusip>
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          <isin value="US718172BD03"/>
          <ticker value="PM"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>90893.12</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>3132A35P1</cusip>
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          <isin value="US3132A35P13"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>139632.11</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3132A5HZ1</cusip>
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          <isin value="US3132A5HZ18"/>
          <ticker value="FHLB"/>
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        <curCd>USD</curCd>
        <valUSD>251395.64</valUSD>
        <pctVal>0.0083461854</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>OGLETHORPE POWER CO 4.50%</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JAPAN BANK FOR INT 4.625%</name>
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        <name>FANNIE MAE POOL 4.00%</name>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
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          <ticker value="MS"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>ABBVIE INC 5.35%</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBVIE INC 5.35%</title>
        <cusip>00287YDV8</cusip>
        <identifiers>
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          <ticker value="ABBV"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>195384</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HSBC HLDGS. PLC F2F</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HLDGS. PLC F2F</title>
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          <ticker value="HSBC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1509924.32</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>2028-11-19</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 1.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 1.50%</title>
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          <ticker value="FN"/>
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        <curCd>USD</curCd>
        <valUSD>400681.39</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.50%</title>
        <cusip>31297FZP1</cusip>
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          <isin value="US31297FZP16"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC GOLD PO 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.50%</title>
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        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.00%</title>
        <cusip>36179YDL5</cusip>
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        <name>GINNIE MAE II POOL 3.50%</name>
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      <invstOrSec>
        <name>APPLOVIN CORP 5.125%</name>
        <lei>549300LLVXMUAOL3SQ07</lei>
        <title>APPLOVIN CORP 5.125%</title>
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        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
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        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>3131XVMQ5</cusip>
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        <name>FANNIE MAE POOL 4.50%</name>
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        <name>FEDERAL HOME LOAN M 4.10%</name>
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      <invstOrSec>
        <name>MITSUBISHI UFJ FINL. F2V</name>
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        <name>MEXICO GOV. INTL. B 6.75%</name>
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        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>JBS USA HLDG. LUX 3.625%</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>BHP BILLITON FIN. 4.125%</name>
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        <name>GINNIE MAE II POOL 3.50%</name>
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        <name>EBAY INC 4.00%</name>
        <lei>OML71K8X303XQONU6T67</lei>
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        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>WEIBO CORP 3.375%</name>
        <lei>549300Q9ID4640FE0422</lei>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

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        <name>MCDONALD S CORP 4.80%</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
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        <curCd>USD</curCd>
        <valUSD>704671.93</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
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          <isin value="US3140QSQC84"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>820262.42</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ONEOK INC 6.05%</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK INC 6.05%</title>
        <cusip>682680BL6</cusip>
        <identifiers>
          <isin value="US682680BL63"/>
          <ticker value="OKE"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>314032.31</valUSD>
        <pctVal>0.0104256855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>3140XLPR3</cusip>
        <identifiers>
          <isin value="US3140XLPR37"/>
          <ticker value="FNMA"/>
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        <balance>602549.59</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>621920.65</valUSD>
        <pctVal>0.0206473949</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3132CXBY7</cusip>
        <identifiers>
          <isin value="US3132CXBY76"/>
          <ticker value="FHLMC"/>
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        <balance>48835.03</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49660.57</valUSD>
        <pctVal>0.0016487013</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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      <invstOrSec>
        <name>PHILIP MORRIS INTL. 5.25%</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTL. 5.25%</title>
        <cusip>718172DC0</cusip>
        <identifiers>
          <isin value="US718172DC02"/>
          <ticker value="PM"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>812301.24</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ORACLE CORP 3.90%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 3.90%</title>
        <cusip>68389XBE4</cusip>
        <identifiers>
          <isin value="US68389XBE40"/>
          <ticker value="ORCL"/>
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        <balance>336000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>285059.91</valUSD>
        <pctVal>0.0094638191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>ERP OPERATING LP 4.50%</name>
        <lei>DX5HQV5MLU50FEWZ5072</lei>
        <title>ERP OPERATING LP 4.50%</title>
        <cusip>26884ABE2</cusip>
        <identifiers>
          <isin value="US26884ABE29"/>
          <ticker value="EQR"/>
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        <balance>55000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47658.01</valUSD>
        <pctVal>0.0015822175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CANADIAN IMPERIAL 6.092%</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>CANADIAN IMPERIAL 6.092%</title>
        <cusip>13607LWW9</cusip>
        <identifiers>
          <isin value="US13607LWW98"/>
          <ticker value="CM"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>318890.52</valUSD>
        <pctVal>0.0105869752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-10-03</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DELL INTL. LLC / EM 3.45%</name>
        <lei>N/A</lei>
        <title>DELL INTL. LLC / EM 3.45%</title>
        <cusip>24703DBH3</cusip>
        <identifiers>
          <isin value="US24703DBH35"/>
          <ticker value="DELL"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>349167.99</valUSD>
        <pctVal>0.0115921691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179VSH4</cusip>
        <identifiers>
          <isin value="US36179VSH41"/>
          <ticker value="GNR"/>
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        <balance>613295.74</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>546088.99</valUSD>
        <pctVal>0.0181298289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <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>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133KJ6R8</cusip>
        <identifiers>
          <isin value="US3133KJ6R88"/>
          <ticker value="FHLMC"/>
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        <balance>1014374.55</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>826423.36</valUSD>
        <pctVal>0.0274367629</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TORONTO-DOMINION B 4.411%</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TORONTO-DOMINION B 4.411%</title>
        <cusip>89115KAM2</cusip>
        <identifiers>
          <isin value="US89115KAM27"/>
          <ticker value="TD"/>
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        <balance>1200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1186763.06</valUSD>
        <pctVal>0.0393998262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.411000000000</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>
        <name>FORD CREDIT AUTO LE 4.00%</name>
        <lei>N/A</lei>
        <title>FORD CREDIT AUTO LE 4.00%</title>
        <cusip>345276AD1</cusip>
        <identifiers>
          <isin value="US345276AD19"/>
          <ticker value="FORDL"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99305.98</valUSD>
        <pctVal>0.0032968993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITEDHEALTH GRP. I 4.75%</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GRP. I 4.75%</title>
        <cusip>91324PCR1</cusip>
        <identifiers>
          <isin value="US91324PCR10"/>
          <ticker value="UNH"/>
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        <balance>281000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249720.18</valUSD>
        <pctVal>0.0082905611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <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>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179RS91</cusip>
        <identifiers>
          <isin value="US36179RS915"/>
          <ticker value="GNR"/>
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        <balance>196008.02</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>180007.24</valUSD>
        <pctVal>0.0059761331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KENVUE INC 5.05%</name>
        <lei>5493008HSF8L4M2LIJ82</lei>
        <title>KENVUE INC 5.05%</title>
        <cusip>49177JAP7</cusip>
        <identifiers>
          <isin value="US49177JAP75"/>
          <ticker value="KVUE"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>182579.66</valUSD>
        <pctVal>0.0060615359</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-03-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 6.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 6.50%</title>
        <cusip>3132E0DT6</cusip>
        <identifiers>
          <isin value="US3132E0DT66"/>
          <ticker value="FHLMC"/>
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        <balance>333897.24</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>347355.94</valUSD>
        <pctVal>0.0115320101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</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>UNION ELEC. CO 5.25%</name>
        <lei>QMPJLLDULY5C1M8PNY21</lei>
        <title>UNION ELEC. CO 5.25%</title>
        <cusip>906548CX8</cusip>
        <identifiers>
          <isin value="US906548CX89"/>
          <ticker value="AEE"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>231615.29</valUSD>
        <pctVal>0.0076894896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
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      <invstOrSec>
        <name>PROVINCE OF ONTARIO 5.05%</name>
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      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
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        <name>FREDDIE MAC POOL 3.00%</name>
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      <invstOrSec>
        <name>APPLE INC 4.30%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
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      <invstOrSec>
        <name>CONOCOPHILLIPS CO 5.30%</name>
        <lei>6VJJ5GQWIRDQ06DUXG89</lei>
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        <name>FREDDIE MAC POOL 1.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EBAY INC 2.60%</name>
        <lei>OML71K8X303XQONU6T67</lei>
        <title>EBAY INC 2.60%</title>
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        <curCd>USD</curCd>
        <valUSD>150502.85</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SANTANDER DRIVE AUT 6.28%</name>
        <lei>N/A</lei>
        <title>SANTANDER DRIVE AUT 6.28%</title>
        <cusip>80286YAF9</cusip>
        <identifiers>
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          <ticker value="DRIVE"/>
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        <curCd>USD</curCd>
        <valUSD>25530.59</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CITIZENS FINL. GRP. I F2F</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>CITIZENS FINL. GRP. I F2F</title>
        <cusip>174610BG9</cusip>
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          <ticker value="CFG"/>
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        <curCd>USD</curCd>
        <valUSD>215370.58</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>GINNIE MAE II POOL 6.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.50%</title>
        <cusip>36179X5K8</cusip>
        <identifiers>
          <isin value="US36179X5K87"/>
          <ticker value="GNR"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VALE O/SEAS. LTD 6.125%</name>
        <lei>254900BA3U6G5DNV5V04</lei>
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        <cusip>91911TAR4</cusip>
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          <ticker value="VALEBZ"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COMMONWEALTH EDISON 5.30%</name>
        <lei>D8YOXB8L2ZDC8P7Q0771</lei>
        <title>COMMONWEALTH EDISON 5.30%</title>
        <cusip>202795JZ4</cusip>
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          <ticker value="EXC"/>
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        <curCd>USD</curCd>
        <valUSD>306987.76</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>DUKE ENERGY CORP 5.80%</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>DUKE ENERGY CORP 5.80%</title>
        <cusip>26441CCF0</cusip>
        <identifiers>
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          <ticker value="DUK"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194893.93</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>Fixed</couponKind>
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      <invstOrSec>
        <name>HYATT HOTELS CORP 5.25%</name>
        <lei>T27JQIMTYSH41TCD5186</lei>
        <title>HYATT HOTELS CORP 5.25%</title>
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          <ticker value="H"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>304529.02</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MICROSOFT CORP 1.35%</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>MICROSOFT CORP 1.35%</title>
        <cusip>594918CS1</cusip>
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          <ticker value="MSFT"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1341875.54</valUSD>
        <pctVal>0.0445494680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <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>FREDDIE MAC POOL 6.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 6.50%</title>
        <cusip>3132DP7E2</cusip>
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          <isin value="US3132DP7E29"/>
          <ticker value="FHLMC"/>
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        <balance>438544.36</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>462476.3</valUSD>
        <pctVal>0.0153539375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
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          <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>ABBVIE INC 4.95%</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBVIE INC 4.95%</title>
        <cusip>00287YDT3</cusip>
        <identifiers>
          <isin value="US00287YDT38"/>
          <ticker value="ABBV"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>507086.07</valUSD>
        <pctVal>0.0168349553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>IQVIA INC 6.25%</name>
        <lei>549300PLWY28YB00C717</lei>
        <title>IQVIA INC 6.25%</title>
        <cusip>46266TAF5</cusip>
        <identifiers>
          <isin value="US46266TAF57"/>
          <ticker value="IQV"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>258278.67</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PACIFIC GAS AND ELE 5.55%</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>PACIFIC GAS AND ELE 5.55%</title>
        <cusip>694308KQ9</cusip>
        <identifiers>
          <isin value="US694308KQ98"/>
          <ticker value="PCG"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510322.44</valUSD>
        <pctVal>0.0169424008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EXPEDIA GRP. INC 4.625%</name>
        <lei>CI7MUJI4USF3V0NJ1H64</lei>
        <title>EXPEDIA GRP. INC 4.625%</title>
        <cusip>30212PBK0</cusip>
        <identifiers>
          <isin value="US30212PBK03"/>
          <ticker value="EXPE"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300190.38</valUSD>
        <pctVal>0.0099661417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY CORP 2.55%</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>DUKE ENERGY CORP 2.55%</title>
        <cusip>26441CBL8</cusip>
        <identifiers>
          <isin value="US26441CBL81"/>
          <ticker value="DUK"/>
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        <balance>420000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>378699.14</valUSD>
        <pctVal>0.0125725857</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PHILLIPS 66 CO 5.65%</name>
        <lei>RVJMT2IZVVSKIRJJBH76</lei>
        <title>PHILLIPS 66 CO 5.65%</title>
        <cusip>718547AW2</cusip>
        <identifiers>
          <isin value="US718547AW25"/>
          <ticker value="PSX"/>
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        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>330921.03</valUSD>
        <pctVal>0.0109863809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BOEING CO/THE 6.298%</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO/THE 6.298%</title>
        <cusip>097023DQ5</cusip>
        <identifiers>
          <isin value="US097023DQ55"/>
          <ticker value="BA"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>624623.14</valUSD>
        <pctVal>0.0207371159</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.298000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GNMA POOL #MA6654 2% 05-2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GNMA POOL #MA6654 2% 05-2</title>
        <cusip>36179VMB3</cusip>
        <identifiers>
          <isin value="US36179VMB35"/>
          <ticker value="GNR"/>
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        <balance>951196.8</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>784035.43</valUSD>
        <pctVal>0.0260295089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HOME DEPOT INC/THE 5.40%</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>HOME DEPOT INC/THE 5.40%</title>
        <cusip>437076DG4</cusip>
        <identifiers>
          <isin value="US437076DG44"/>
          <ticker value="HD"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>285265.25</valUSD>
        <pctVal>0.0094706363</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEWMONT CORP / NEWC 4.20%</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>NEWMONT CORP / NEWC 4.20%</title>
        <cusip>65163LAF6</cusip>
        <identifiers>
          <isin value="US65163LAF67"/>
          <ticker value="NEM"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>241607.48</valUSD>
        <pctVal>0.0080212243</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PHILLIPS 66 CO 4.95%</name>
        <lei>RVJMT2IZVVSKIRJJBH76</lei>
        <title>PHILLIPS 66 CO 4.95%</title>
        <cusip>718547AY8</cusip>
        <identifiers>
          <isin value="US718547AY80"/>
          <ticker value="PSX"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>394175.74</valUSD>
        <pctVal>0.0130863996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="400115.720000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY CAROLIN 4.85%</name>
        <lei>MWIUSDMN17TCR56VW396</lei>
        <title>DUKE ENERGY CAROLIN 4.85%</title>
        <cusip>26442CBP8</cusip>
        <identifiers>
          <isin value="US26442CBP86"/>
          <ticker value="DUK"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>504554.64</valUSD>
        <pctVal>0.0167509133</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HONDA MOTOR CO LTD 5.337%</name>
        <lei>549300P7ZYCQJ36CCS16</lei>
        <title>HONDA MOTOR CO LTD 5.337%</title>
        <cusip>438127AF9</cusip>
        <identifiers>
          <isin value="US438127AF94"/>
          <ticker value="HNDA"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199967.18</valUSD>
        <pctVal>0.0066387912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.337000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.625%</title>
        <cusip>91282CNU1</cusip>
        <identifiers>
          <isin value="US91282CNU17"/>
          <ticker value="T"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5934375</valUSD>
        <pctVal>0.1970177125</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="6015415.800000000000"/>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.75%</title>
        <cusip>912810UM8</cusip>
        <identifiers>
          <isin value="US912810UM89"/>
          <ticker value="T"/>
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        <balance>7700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7471105.49</valUSD>
        <pctVal>0.2480362487</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EAGLE MATERIALS INC 2.50%</name>
        <lei>529900KRXRGXL61SG039</lei>
        <title>EAGLE MATERIALS INC 2.50%</title>
        <cusip>26969PAB4</cusip>
        <identifiers>
          <isin value="US26969PAB40"/>
          <ticker value="EXP"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89344.7</valUSD>
        <pctVal>0.0029661908</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DELL INTL. LLC / EM 8.35%</name>
        <lei>N/A</lei>
        <title>DELL INTL. LLC / EM 8.35%</title>
        <cusip>24703TAK2</cusip>
        <identifiers>
          <isin value="US24703TAK25"/>
          <ticker value="DELL"/>
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        <balance>223000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>281865.71</valUSD>
        <pctVal>0.0093577736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WILLIAMS COS INC/TH 5.95%</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>WILLIAMS COS INC/TH 5.95%</title>
        <cusip>969457CW8</cusip>
        <identifiers>
          <isin value="US969457CW87"/>
          <ticker value="WMB"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>396158.65</valUSD>
        <pctVal>0.0131522310</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="407661.920000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>OMNICOM GRP. INC 4.75%</name>
        <lei>HKUPACFHSSASQK8HLS17</lei>
        <title>OMNICOM GRP. INC 4.75%</title>
        <cusip>681919BQ8</cusip>
        <identifiers>
          <isin value="US681919BQ89"/>
          <ticker value="OMC"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500177.95</valUSD>
        <pctVal>0.0166056098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WOODSIDE FIN. LTD 5.70%</name>
        <lei>254900AIZKU6TGRRNZ98</lei>
        <title>WOODSIDE FIN. LTD 5.70%</title>
        <cusip>980236AS2</cusip>
        <identifiers>
          <isin value="US980236AS23"/>
          <ticker value="WDSAU"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95815.27</valUSD>
        <pctVal>0.0031810098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN NATL. GRP. 5.75%</name>
        <lei>549300RK5RZQ740FPL83</lei>
        <title>AMERICAN NATL. GRP. 5.75%</title>
        <cusip>025676AN7</cusip>
        <identifiers>
          <isin value="US025676AN78"/>
          <ticker value="ANGINC"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>152282.51</valUSD>
        <pctVal>0.0050556886</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENBRIDGE INC 3.40%</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>ENBRIDGE INC 3.40%</title>
        <cusip>29250NBE4</cusip>
        <identifiers>
          <isin value="US29250NBE40"/>
          <ticker value="ENBCN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203936.07</valUSD>
        <pctVal>0.0067705560</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUZANO AUSTRIA GMB 3.125%</name>
        <lei>254900287ZNSGVP1R341</lei>
        <title>SUZANO AUSTRIA GMB 3.125%</title>
        <cusip>86964WAK8</cusip>
        <identifiers>
          <isin value="US86964WAK80"/>
          <ticker value="SUZANO"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>354590.72</valUSD>
        <pctVal>0.0117722005</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179WLQ9</cusip>
        <identifiers>
          <isin value="US36179WLQ95"/>
          <ticker value="GNR"/>
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        <balance>1545622.01</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1373799.55</valUSD>
        <pctVal>0.0456093261</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK 2021-BNK37 VAR</name>
        <lei>N/A</lei>
        <title>BANK 2021-BNK37 VAR</title>
        <cusip>06540LBF3</cusip>
        <identifiers>
          <isin value="US06540LBF31"/>
          <ticker value="BANK"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>177195.28</valUSD>
        <pctVal>0.0058827777</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.618000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EXELON CORP 5.125%</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>EXELON CORP 5.125%</title>
        <cusip>30161NBR1</cusip>
        <identifiers>
          <isin value="US30161NBR17"/>
          <ticker value="EXC"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>506669.67</valUSD>
        <pctVal>0.0168211310</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HCA INC 6.20%</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA INC 6.20%</title>
        <cusip>404119DC0</cusip>
        <identifiers>
          <isin value="US404119DC05"/>
          <ticker value="HCA"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203627.65</valUSD>
        <pctVal>0.0067603166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BROADCOM INC 5.70%</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>BROADCOM INC 5.70%</title>
        <cusip>11135FDD0</cusip>
        <identifiers>
          <isin value="US11135FDD06"/>
          <ticker value="AVGO"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297665.96</valUSD>
        <pctVal>0.0098823324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ISRAEL GOV. INTL. 5.875%</name>
        <lei>213800T8ZHTFZIBYPE21</lei>
        <title>ISRAEL GOV. INTL. 5.875%</title>
        <cusip>46515CKR4</cusip>
        <identifiers>
          <isin value="US46515CKR42"/>
          <ticker value="ISRAEL"/>
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        <balance>790000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>766590.63</valUSD>
        <pctVal>0.0254503520</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PDK9</cusip>
        <identifiers>
          <isin value="US46647PDK93"/>
          <ticker value="JPM"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>516028.9</valUSD>
        <pctVal>0.0171318519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.717000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROLOGIS LP 1.75%</name>
        <lei>GL16H1DHB0QSHP25F723</lei>
        <title>PROLOGIS LP 1.75%</title>
        <cusip>74340XBZ3</cusip>
        <identifiers>
          <isin value="US74340XBZ33"/>
          <ticker value="PLD"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179000.86</valUSD>
        <pctVal>0.0059427218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE I POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 5.50%</title>
        <cusip>36241KLL0</cusip>
        <identifiers>
          <isin value="US36241KLL07"/>
          <ticker value="GNR"/>
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        <balance>10261.79</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10655.35</valUSD>
        <pctVal>0.0003537513</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31410FUZ6</cusip>
        <identifiers>
          <isin value="US31410FUZ60"/>
          <ticker value="FNMA"/>
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        <balance>40059.4</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40490.7</valUSD>
        <pctVal>0.0013442671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>3617A8RB7</cusip>
        <identifiers>
          <isin value="US3617A8RB78"/>
          <ticker value="GNR"/>
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        <balance>229951.16</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>216922.85</valUSD>
        <pctVal>0.0072017093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>FREDDIE MAC GOLD PO 5.00%</name>
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        <name>FREDDIE MAC GOLD PO 5.50%</name>
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        <name>FREDDIE MAC POOL 3.00%</name>
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        <name>FANNIE MAE POOL 3.00%</name>
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        <name>COMM 2019-GC44 MTGE. VAR</name>
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        <name>FREDDIE MAC POOL 2.00%</name>
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        <name>QUALCOMM INC 6.00%</name>
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        <name>ROGERS COMMS. INC 4.55%</name>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140QTHW2</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>QUEST DIAGNOSTICS I 6.40%</name>
        <lei>8MCWUBXQ0WE04KMXBX50</lei>
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        <cusip>74834LBD1</cusip>
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          <ticker value="DGX"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LKQ CORP 5.75%</name>
        <lei>DS830JTTZQN6GK0I2E41</lei>
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        <cusip>501889AD1</cusip>
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        <curCd>USD</curCd>
        <valUSD>202709.24</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140XMXW1</cusip>
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        <name>PHILIPPINE GOV. INT 5.75%</name>
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        <name>FEDERAL FARM CREDIT 3.50%</name>
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        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>COUNCIL OF EUR. DE 4.125%</name>
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        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>EXPORT-IMPORT BANK 2.50%</name>
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        <name>FANNIE MAE POOL 6.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>PFIZER INV. ENTS. P 4.75%</name>
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        <name>FREDDIE MAC POOL 5.50%</name>
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        <name>GINNIE MAE I POOL 5.50%</name>
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        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>INTEL CORP 5.20%</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>INTEL CORP 5.20%</title>
        <cusip>458140CG3</cusip>
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          <ticker value="INTC"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EUROPEAN INV. BANK 3.75%</name>
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      <invstOrSec>
        <name>AMERICAN EXPRESS CR 4.80%</name>
        <lei>549300Y4SA5G3GIJTP18</lei>
        <title>AMERICAN EXPRESS CR 4.80%</title>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>US BANCORP F2F</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
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        <cusip>91159HJM3</cusip>
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          <isin value="US91159HJM34"/>
          <ticker value="USB"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
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        <curCd>USD</curCd>
        <valUSD>24388.1</valUSD>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
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          <ticker value="FNMA"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>92508.07</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31405QTF5</cusip>
        <identifiers>
          <isin value="US31405QTF53"/>
          <ticker value="FNMA"/>
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        <balance>12384.33</balance>
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        <curCd>USD</curCd>
        <valUSD>12664.01</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GE HEALTHCARE TECH 5.905%</name>
        <lei>549300OI9J7XOWZMUN85</lei>
        <title>GE HEALTHCARE TECH 5.905%</title>
        <cusip>36267VAK9</cusip>
        <identifiers>
          <isin value="US36267VAK98"/>
          <ticker value="GEHC"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>631164.52</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.905000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GENERAL MOTORS FINL 5.80%</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>GENERAL MOTORS FINL 5.80%</title>
        <cusip>37045XEH5</cusip>
        <identifiers>
          <isin value="US37045XEH52"/>
          <ticker value="GM"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>509716.5</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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>JAPAN BANK FOR INTE 3.50%</name>
        <lei>549300TJ3QFYVCTSCJ29</lei>
        <title>JAPAN BANK FOR INTE 3.50%</title>
        <cusip>471048BV9</cusip>
        <identifiers>
          <isin value="US471048BV90"/>
          <ticker value="JBIC"/>
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        <balance>301000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>295543.44</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>FREDDIE MAC POOL 1.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 1.50%</title>
        <cusip>3132D56P2</cusip>
        <identifiers>
          <isin value="US3132D56P22"/>
          <ticker value="FHLMC"/>
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        <balance>548411.95</balance>
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        <curCd>USD</curCd>
        <valUSD>492202.49</valUSD>
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          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
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          <isin value="US31418ES845"/>
          <ticker value="FNMA"/>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <ticker value="FHLMC"/>
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        <name>DIAGEO CAP. PLC 5.625%</name>
        <lei>213800L23DJLALFC4O95</lei>
        <title>DIAGEO CAP. PLC 5.625%</title>
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          <ticker value="DGELN"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>521146.85</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KENVUE INC 4.90%</name>
        <lei>5493008HSF8L4M2LIJ82</lei>
        <title>KENVUE INC 4.90%</title>
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          <isin value="US49177JAK88"/>
          <ticker value="KVUE"/>
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        <curCd>USD</curCd>
        <valUSD>200765.77</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>Fixed</couponKind>
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      <invstOrSec>
        <name>AMGEN INC 5.75%</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>AMGEN INC 5.75%</title>
        <cusip>031162DU1</cusip>
        <identifiers>
          <isin value="US031162DU18"/>
          <ticker value="AMGN"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>193939.96</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CANADIAN PACIFIC RA 5.95%</name>
        <lei>54930036474DURYNB481</lei>
        <title>CANADIAN PACIFIC RA 5.95%</title>
        <cusip>13645RAF1</cusip>
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          <isin value="US13645RAF10"/>
          <ticker value="CP"/>
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        <balance>710000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>751226.7</valUSD>
        <pctVal>0.0249402786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CANADA GOV. INTL. 4.625%</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
        <title>CANADA GOV. INTL. 4.625%</title>
        <cusip>43358BAA1</cusip>
        <identifiers>
          <isin value="US43358BAA17"/>
          <ticker value="CANADA"/>
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        <balance>1200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1214760.98</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTHWESTERN PUBLIC 6.00%</name>
        <lei>OL6FE7QD5EQ3DOYEO258</lei>
        <title>SOUTHWESTERN PUBLIC 6.00%</title>
        <cusip>845743BX0</cusip>
        <identifiers>
          <isin value="US845743BX00"/>
          <ticker value="XEL"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>302970.73</valUSD>
        <pctVal>0.0100584476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARSH &amp; MCLENNAN CO 5.45%</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>MARSH &amp; MCLENNAN CO 5.45%</title>
        <cusip>571748BX9</cusip>
        <identifiers>
          <isin value="US571748BX98"/>
          <ticker value="MRSH"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>381827.1</valUSD>
        <pctVal>0.0126764321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.450000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BRISTOL-MYERS SQUIB 5.10%</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>BRISTOL-MYERS SQUIB 5.10%</title>
        <cusip>110122EG9</cusip>
        <identifiers>
          <isin value="US110122EG99"/>
          <ticker value="BMY"/>
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        <balance>430000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>438362.89</valUSD>
        <pctVal>0.0145533866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.100000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANCO SANTANDER SA 5.439%</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>BANCO SANTANDER SA 5.439%</title>
        <cusip>05964HBG9</cusip>
        <identifiers>
          <isin value="US05964HBG92"/>
          <ticker value="SANTAN"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>409824.19</valUSD>
        <pctVal>0.0136059188</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.439000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFA 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFA 5.00%</title>
        <cusip>3137HDUV0</cusip>
        <identifiers>
          <isin value="US3137HDUV05"/>
          <ticker value="FHMS"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153380.64</valUSD>
        <pctVal>0.0050921458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HCA INC 6.00%</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA INC 6.00%</title>
        <cusip>404119CV9</cusip>
        <identifiers>
          <isin value="US404119CV94"/>
          <ticker value="HCA"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>296346.79</valUSD>
        <pctVal>0.0098385368</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK MELL F2F</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>BANK OF NEW YORK MELL F2F</title>
        <cusip>06406RBV8</cusip>
        <identifiers>
          <isin value="US06406RBV87"/>
          <ticker value="BNY"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>504289.26</valUSD>
        <pctVal>0.0167421028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.975000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF NEW YORK MELL F2F</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>BANK OF NEW YORK MELL F2F</title>
        <cusip>06406RBZ9</cusip>
        <identifiers>
          <isin value="US06406RBZ91"/>
          <ticker value="BNY"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>252964.38</valUSD>
        <pctVal>0.0083982666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.060000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OCCIDENTAL PETROLEU 6.05%</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
        <title>OCCIDENTAL PETROLEU 6.05%</title>
        <cusip>674599EM3</cusip>
        <identifiers>
          <isin value="US674599EM33"/>
          <ticker value="OXY"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>507788.61</valUSD>
        <pctVal>0.0168582792</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="515435.100000000000"/>
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      <invstOrSec>
        <name>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2F</title>
        <cusip>61747YFV2</cusip>
        <identifiers>
          <isin value="US61747YFV20"/>
          <ticker value="MS"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>289734.75</valUSD>
        <pctVal>0.0096190210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.516000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VULCAN MATS. CO 5.35%</name>
        <lei>549300Q8LSNHAVWBNI21</lei>
        <title>VULCAN MATS. CO 5.35%</title>
        <cusip>929160BC2</cusip>
        <identifiers>
          <isin value="US929160BC27"/>
          <ticker value="VMC"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>304699.31</valUSD>
        <pctVal>0.0101158355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UBS AG/LONDON 4.50%</name>
        <lei>N/A</lei>
        <title>UBS AG/LONDON 4.50%</title>
        <cusip>902674A26</cusip>
        <identifiers>
          <isin value="US902674A263"/>
          <ticker value="UBS"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>259822.37</valUSD>
        <pctVal>0.0086259478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BP CAP. MKTS. AMER 4.989%</name>
        <lei>5493009NTB34VXE1T760</lei>
        <title>BP CAP. MKTS. AMER 4.989%</title>
        <cusip>10373QBW9</cusip>
        <identifiers>
          <isin value="US10373QBW96"/>
          <ticker value="BPLN"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499441.09</valUSD>
        <pctVal>0.0165811465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.989000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KROGER CO/THE 5.00%</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>KROGER CO/THE 5.00%</title>
        <cusip>501044DV0</cusip>
        <identifiers>
          <isin value="US501044DV05"/>
          <ticker value="KR"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>789430.97</valUSD>
        <pctVal>0.0262086376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31418FDA2</cusip>
        <identifiers>
          <isin value="US31418FDA21"/>
          <ticker value="FNMA"/>
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        <balance>3423519.08</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3372635.62</valUSD>
        <pctVal>0.1119694922</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36202FY59</cusip>
        <identifiers>
          <isin value="US36202FY595"/>
          <ticker value="GNR"/>
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        <balance>221119.49</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>207570.31</valUSD>
        <pctVal>0.0068912106</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179NDQ8</cusip>
        <identifiers>
          <isin value="US36179NDQ88"/>
          <ticker value="GNR"/>
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        <balance>263638.06</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>239999.71</valUSD>
        <pctVal>0.0079678473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>T-MOBILE USA INC 4.20%</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 4.20%</title>
        <cusip>87264ADL6</cusip>
        <identifiers>
          <isin value="US87264ADL61"/>
          <ticker value="TMUS"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>592606.89</valUSD>
        <pctVal>0.0196741955</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31418FGF8</cusip>
        <identifiers>
          <isin value="US31418FGF80"/>
          <ticker value="FNMA"/>
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        <balance>156146</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>154318.75</valUSD>
        <pctVal>0.0051232905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31418FF85</cusip>
        <identifiers>
          <isin value="US31418FF856"/>
          <ticker value="FNMA"/>
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        <balance>332989.51</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>334625.84</valUSD>
        <pctVal>0.0111093784</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES VAR</title>
        <cusip>3136BUJV3</cusip>
        <identifiers>
          <isin value="US3136BUJV30"/>
          <ticker value="FNMA"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>149712.45</valUSD>
        <pctVal>0.0049703641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC OF POLAND 5.375%</name>
        <lei>259400R9L8QEP0TPXS31</lei>
        <title>REPUBLIC OF POLAND 5.375%</title>
        <cusip>857524AH5</cusip>
        <identifiers>
          <isin value="US857524AH50"/>
          <ticker value="POLAND"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>408164.8</valUSD>
        <pctVal>0.0135508281</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HEALTHPEAK OP LLC 5.375%</name>
        <lei>PZ9HF5U52KPF0MH0QN75</lei>
        <title>HEALTHPEAK OP LLC 5.375%</title>
        <cusip>42250GAA1</cusip>
        <identifiers>
          <isin value="US42250GAA13"/>
          <ticker value="DOC"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>301963.54</valUSD>
        <pctVal>0.0100250095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PES1</cusip>
        <identifiers>
          <isin value="US46647PES11"/>
          <ticker value="JPM"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>495580.97</valUSD>
        <pctVal>0.0164529928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.534000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>3618N5C64</cusip>
        <identifiers>
          <isin value="US3618N5C643"/>
          <ticker value="GNR"/>
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        <balance>738108.99</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>742898.62</valUSD>
        <pctVal>0.0246637913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GENERAL MOTORS FIN 5.625%</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>GENERAL MOTORS FIN 5.625%</title>
        <cusip>37045XFG6</cusip>
        <identifiers>
          <isin value="US37045XFG60"/>
          <ticker value="GM"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>614574.67</valUSD>
        <pctVal>0.0204035127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTHERN CO/THE F2V</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>SOUTHERN CO/THE F2V</title>
        <cusip>842587EB9</cusip>
        <identifiers>
          <isin value="US842587EB90"/>
          <ticker value="SO"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>256562.5</valUSD>
        <pctVal>0.0085177221</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3132A9S40</cusip>
        <identifiers>
          <isin value="US3132A9S403"/>
          <ticker value="FHLMC"/>
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        <balance>15221.16</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14406.8</valUSD>
        <pctVal>0.0004782972</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>3131WKTK6</cusip>
        <identifiers>
          <isin value="US3131WKTK66"/>
          <ticker value="FHLMC"/>
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        <balance>36429.32</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35993.22</valUSD>
        <pctVal>0.0011949534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STATE STREET CORP 4.729%</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>STATE STREET CORP 4.729%</title>
        <cusip>857477CW1</cusip>
        <identifiers>
          <isin value="US857477CW15"/>
          <ticker value="STT"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503486.43</valUSD>
        <pctVal>0.0167154493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.729000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST HORIZON CORP F2F</name>
        <lei>TF3RXI1ZB1TQ30H9JV10</lei>
        <title>FIRST HORIZON CORP F2F</title>
        <cusip>320517AE5</cusip>
        <identifiers>
          <isin value="US320517AE51"/>
          <ticker value="FHN"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>101262.73</valUSD>
        <pctVal>0.0033618623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.514000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.00%</title>
        <cusip>36179YU77</cusip>
        <identifiers>
          <isin value="US36179YU776"/>
          <ticker value="GNR"/>
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        <balance>382064.45</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>392385.96</valUSD>
        <pctVal>0.0130269800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>GINNIE MAE I POOL 4.50%</name>
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        <name>GINNIE MAE I POOL 4.00%</name>
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        <name>GINNIE MAE II POOL 3.50%</name>
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        <title>GINNIE MAE II POOL 3.50%</title>
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        <curCd>USD</curCd>
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        <name>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <ticker value="GNR"/>
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      <invstOrSec>
        <name>ARTHUR J GALLAGHER 5.55%</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>ARTHUR J GALLAGHER 5.55%</title>
        <cusip>04316JAP4</cusip>
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          <isin value="US04316JAP49"/>
          <ticker value="AJG"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>189545.38</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ARROW ELECTNCS. IN 3.875%</name>
        <lei>549300YNNLBXT8N8R512</lei>
        <title>ARROW ELECTNCS. IN 3.875%</title>
        <cusip>042735BF6</cusip>
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          <ticker value="ARW"/>
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        <curCd>USD</curCd>
        <valUSD>246960.32</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AEP TRANSMISSION CO 4.00%</name>
        <lei>549300X123Z1I0LA3Y84</lei>
        <title>AEP TRANSMISSION CO 4.00%</title>
        <cusip>00115AAF6</cusip>
        <identifiers>
          <isin value="US00115AAF66"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>160561.02</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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      <invstOrSec>
        <name>HCA INC 5.50%</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA INC 5.50%</title>
        <cusip>404119BV0</cusip>
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          <ticker value="HCA"/>
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        <balance>330000</balance>
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        <curCd>USD</curCd>
        <valUSD>307473.82</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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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        <name>UBS COMMERCIAL MORTGA VAR</name>
        <lei>N/A</lei>
        <title>UBS COMMERCIAL MORTGA VAR</title>
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          <ticker value="UBSCM"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>97497.92</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-15</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>3133KGUS5</cusip>
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          <isin value="US3133KGUS55"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>KEYSIGHT TECHS. INC 3.00%</name>
        <lei>549300GLKVIO8YRCYN02</lei>
        <title>KEYSIGHT TECHS. INC 3.00%</title>
        <cusip>49338LAF0</cusip>
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          <isin value="US49338LAF04"/>
          <ticker value="KEYS"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>189615.76</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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        <name>BLUE OWL CREDIT INC 5.80%</name>
        <lei>5493003I42XBWPE05N35</lei>
        <title>BLUE OWL CREDIT INC 5.80%</title>
        <cusip>09581CAD3</cusip>
        <identifiers>
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          <ticker value="OCINCC"/>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
        <valUSD>389718.6</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>Fixed</couponKind>
          <annualizedRt>5.800000000000</annualizedRt>
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        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GMT3</cusip>
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          <ticker value="BAC"/>
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        <balance>1540000</balance>
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        <curCd>USD</curCd>
        <valUSD>1539257.63</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.623000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>BOEING CO/THE 6.858%</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO/THE 6.858%</title>
        <cusip>097023DT9</cusip>
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          <ticker value="BA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>561936.07</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.858000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3140W0QN8</cusip>
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          <isin value="US3140W0QN88"/>
          <ticker value="FNMA"/>
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        <balance>870486.2</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>776404.9</valUSD>
        <pctVal>0.0257761799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NETFLIX INC 6.375%</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>NETFLIX INC 6.375%</title>
        <cusip>64110LAX4</cusip>
        <identifiers>
          <isin value="US64110LAX47"/>
          <ticker value="NFLX"/>
        </identifiers>
        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>630154.36</valUSD>
        <pctVal>0.0209207491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3132DV4N2</cusip>
        <identifiers>
          <isin value="US3132DV4N29"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>266691.16</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>225650.63</valUSD>
        <pctVal>0.0074914664</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179VDP2</cusip>
        <identifiers>
          <isin value="US36179VDP22"/>
          <ticker value="GNR"/>
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        <balance>655163.25</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>599549.39</valUSD>
        <pctVal>0.0199046824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179VSG6</cusip>
        <identifiers>
          <isin value="US36179VSG67"/>
          <ticker value="GNR"/>
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        <balance>793334.47</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>678431.75</valUSD>
        <pctVal>0.0225235297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC 3.30%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 3.30%</title>
        <cusip>00206RKE1</cusip>
        <identifiers>
          <isin value="US00206RKE17"/>
          <ticker value="T"/>
        </identifiers>
        <balance>550000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>347696</valUSD>
        <pctVal>0.0115432999</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC 3.10%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 3.10%</title>
        <cusip>00206RKD3</cusip>
        <identifiers>
          <isin value="US00206RKD34"/>
          <ticker value="T"/>
        </identifiers>
        <balance>900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>644532.08</valUSD>
        <pctVal>0.0213980809</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="43743.800000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE-ACES 1.27%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES 1.27%</title>
        <cusip>3136BBN73</cusip>
        <identifiers>
          <isin value="US3136BBN730"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>177746.82</valUSD>
        <pctVal>0.0059010885</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.270000000000</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>PANAMA GOV. INTL. 2.252%</name>
        <lei>549300SHS4T08CL0LP14</lei>
        <title>PANAMA GOV. INTL. 2.252%</title>
        <cusip>698299BN3</cusip>
        <identifiers>
          <isin value="US698299BN37"/>
          <ticker value="PANAMA"/>
        </identifiers>
        <balance>102000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85476</valUSD>
        <pctVal>0.0028377522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.252000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3140HDJW5</cusip>
        <identifiers>
          <isin value="US3140HDJW53"/>
          <ticker value="FNMA"/>
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        <balance>65629.41</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62259.13</valUSD>
        <pctVal>0.0020669660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE-ACES 3.143%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES 3.143%</title>
        <cusip>3136B4QB7</cusip>
        <identifiers>
          <isin value="US3136B4QB72"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>150204.43</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145207.77</valUSD>
        <pctVal>0.0048208114</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.143000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAKEDA US FINC. INC 5.90%</name>
        <lei>254900ZGPIBGBZ2N3A33</lei>
        <title>TAKEDA US FINC. INC 5.90%</title>
        <cusip>87406BAB8</cusip>
        <identifiers>
          <isin value="US87406BAB80"/>
          <ticker value="TACHEM"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>252406.97</valUSD>
        <pctVal>0.0083797609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="114213.900000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY PRIVAT F2F</name>
        <lei>549300GS0W0TEUQS8571</lei>
        <title>MORGAN STANLEY PRIVAT F2F</title>
        <cusip>61776NVE0</cusip>
        <identifiers>
          <isin value="US61776NVE02"/>
          <ticker value="MS"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499456.02</valUSD>
        <pctVal>0.0165816421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.466000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140X9FL4</cusip>
        <identifiers>
          <isin value="US3140X9FL41"/>
          <ticker value="FNMA"/>
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        <balance>434543.83</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>398415.99</valUSD>
        <pctVal>0.0132271734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>T-MOBILE USA INC 3.30%</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 3.30%</title>
        <cusip>87264ABN4</cusip>
        <identifiers>
          <isin value="US87264ABN46"/>
          <ticker value="TMUS"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>260919.96</valUSD>
        <pctVal>0.0086623871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>3132DVKZ7</cusip>
        <identifiers>
          <isin value="US3132DVKZ75"/>
          <ticker value="FHLMC"/>
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        <balance>405152.8</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>359758.68</valUSD>
        <pctVal>0.0119437737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>ANHEUSER-BUSCH INBE 3.50%</name>
        <lei>549300CRGMZK3K53BF92</lei>
        <title>ANHEUSER-BUSCH INBE 3.50%</title>
        <cusip>035240AV2</cusip>
        <identifiers>
          <isin value="US035240AV25"/>
          <ticker value="ABIBB"/>
        </identifiers>
        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>578957.56</valUSD>
        <pctVal>0.0192210459</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
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        <name>GINNIE MAE II POOL 2.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.00%</title>
        <cusip>36179WXH6</cusip>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>31418EEA4</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.625%</title>
        <cusip>912810TN8</cusip>
        <identifiers>
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          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3998437.5</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CANADIAN PACIFIC RA 4.95%</name>
        <lei>54930036474DURYNB481</lei>
        <title>CANADIAN PACIFIC RA 4.95%</title>
        <cusip>13648TAE7</cusip>
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          <ticker value="CP"/>
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        <curCd>USD</curCd>
        <valUSD>91863.99</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>EXXON MOBIL CORP 2.61%</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>EXXON MOBIL CORP 2.61%</title>
        <cusip>30231GBN1</cusip>
        <identifiers>
          <isin value="US30231GBN16"/>
          <ticker value="XOM"/>
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        <balance>1010000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>936684.42</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PRESIDENT AND FELL 2.517%</name>
        <lei>6S3X7J22E861RNTJSA74</lei>
        <title>PRESIDENT AND FELL 2.517%</title>
        <cusip>740816AP8</cusip>
        <identifiers>
          <isin value="US740816AP89"/>
          <ticker value="HARVRD"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>182941.14</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>Fixed</couponKind>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
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        <cusip>46647PBN5</cusip>
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        <curCd>USD</curCd>
        <valUSD>869979.76</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-04-22</maturityDt>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179VN22</cusip>
        <identifiers>
          <isin value="US36179VN223"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>1063338.58</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>APOLLO GBL. MGT. I 6.375%</name>
        <lei>254900LMFT1CY9IYB476</lei>
        <title>APOLLO GBL. MGT. I 6.375%</title>
        <cusip>03769MAA4</cusip>
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          <ticker value="APO"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>213074.6</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WESTPAC BANKING COR 6.82%</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>WESTPAC BANKING COR 6.82%</title>
        <cusip>961214FP3</cusip>
        <identifiers>
          <isin value="US961214FP35"/>
          <ticker value="WSTP"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>327432.67</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UDR INC 2.10%</name>
        <lei>P3CH2EG5X6Z1XWU1OO74</lei>
        <title>UDR INC 2.10%</title>
        <cusip>90265EAV2</cusip>
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          <isin value="US90265EAV20"/>
          <ticker value="UDR"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>249332.95</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.100000000000</annualizedRt>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140XABG6</cusip>
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          <isin value="US3140XABG62"/>
          <ticker value="FNMA"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>794097.91</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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      <invstOrSec>
        <name>VERIZON MASTER TRUS 5.34%</name>
        <lei>5493007MUBNP1GFMEB89</lei>
        <title>VERIZON MASTER TRUS 5.34%</title>
        <cusip>92348KCQ4</cusip>
        <identifiers>
          <isin value="US92348KCQ40"/>
          <ticker value="VZMT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100846.74</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2F</title>
        <cusip>61747YFQ3</cusip>
        <identifiers>
          <isin value="US61747YFQ35"/>
          <ticker value="MS"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1021509.76</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.656000000000</annualizedRt>
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        <securityLending>
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        <name>IBM INTL. CAP. PTE 5.30%</name>
        <lei>2549007KTXQQBYZO7485</lei>
        <title>IBM INTL. CAP. PTE 5.30%</title>
        <cusip>449276AG9</cusip>
        <identifiers>
          <isin value="US449276AG99"/>
          <ticker value="IBM"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>269433.74</valUSD>
        <pctVal>0.0089450396</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-02-05</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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        <name>FREDDIE MAC POOL 6.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 6.50%</title>
        <cusip>3132DSGK2</cusip>
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          <isin value="US3132DSGK24"/>
          <ticker value="FHLMC"/>
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        <balance>405205.76</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>425483.05</valUSD>
        <pctVal>0.0141257836</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHARTER COMMS. OPER 3.95%</name>
        <lei>N/A</lei>
        <title>CHARTER COMMS. OPER 3.95%</title>
        <cusip>161175CG7</cusip>
        <identifiers>
          <isin value="US161175CG74"/>
          <ticker value="CHTR"/>
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        <balance>240000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>141914.58</valUSD>
        <pctVal>0.0047114795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2062-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 3.00%</name>
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      <invstOrSec>
        <name>EXETER AUTOMOBILE R 5.57%</name>
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        <name>FANNIE MAE POOL 5.00%</name>
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      <invstOrSec>
        <name>TRAVELERS COS INC/T 5.70%</name>
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        <name>CONSTELLATION ENERG 4.40%</name>
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        <curCd>USD</curCd>
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        <name>FREDDIE MAC POOL 2.00%</name>
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        <name>CINTAS CORP NO 2 4.00%</name>
        <lei>549300QVUQTTKMTE0G41</lei>
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          <ticker value="CTAS"/>
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        <curCd>USD</curCd>
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        <name>EXPORT DEV. CANADA 4.125%</name>
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        <name>ROPER TECHS. INC 4.90%</name>
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        <name>SHELL FIN. US INC 3.75%</name>
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        <valUSD>177798.43</valUSD>
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        <name>UNITED STATES TSY. 4.25%</name>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
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        <name>PIEDMONT NATURAL GA 5.05%</name>
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        <curCd>USD</curCd>
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        <name>FIDELITY NATL. INFO 5.10%</name>
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        <name>PG&amp;E WILDFIRE REC. 5.099%</name>
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        <name>GINNIE MAE II POOL 4.00%</name>
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        <name>BANK OF AMERICA CORP F2F</name>
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        <name>UNITED STATES TSY. 4.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.25%</title>
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        <curCd>USD</curCd>
        <valUSD>966015.62</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS PLC F2V</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC F2V</title>
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        <curCd>USD</curCd>
        <valUSD>557258.54</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-02</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36179XNE2</cusip>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.625%</title>
        <cusip>912810QE1</cusip>
        <identifiers>
          <isin value="US912810QE10"/>
          <ticker value="T"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1491386.72</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHICAGO TRANSIT AUT 6.20%</name>
        <lei>549300CB8XLRGIPN3E12</lei>
        <title>CHICAGO TRANSIT AUT 6.20%</title>
        <cusip>16772PAQ9</cusip>
        <identifiers>
          <isin value="US16772PAQ90"/>
          <ticker value="CHITRN"/>
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        <balance>135265.58</balance>
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        <curCd>USD</curCd>
        <valUSD>141995.81</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.200000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMAZON.COM INC 4.65%</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON.COM INC 4.65%</title>
        <cusip>023135CQ7</cusip>
        <identifiers>
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          <ticker value="AMZN"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503419.1</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>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179XNC6</cusip>
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          <isin value="US36179XNC64"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>762049.46</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LOS ANGELES COMMUNI 6.75%</name>
        <lei>N/A</lei>
        <title>LOS ANGELES COMMUNI 6.75%</title>
        <cusip>54438CPA4</cusip>
        <identifiers>
          <isin value="US54438CPA44"/>
          <ticker value="LOSHGR"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>162447.98</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.750000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OHIO STATE UNIVERSI 4.80%</name>
        <lei>JFC10ZULKO4X2E3HBY86</lei>
        <title>OHIO STATE UNIVERSI 4.80%</title>
        <cusip>677632PA3</cusip>
        <identifiers>
          <isin value="US677632PA36"/>
          <ticker value="OHSHGR"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>166069.04</valUSD>
        <pctVal>0.0055133931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2111-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ING GROEP NV F2F</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING GROEP NV F2F</title>
        <cusip>456837BH5</cusip>
        <identifiers>
          <isin value="US456837BH52"/>
          <ticker value="INTNED"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>211642.61</valUSD>
        <pctVal>0.0070264085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.114000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONSUMERS 2023 SECU 5.21%</name>
        <lei>N/A</lei>
        <title>CONSUMERS 2023 SECU 5.21%</title>
        <cusip>21071BAB1</cusip>
        <identifiers>
          <isin value="US21071BAB18"/>
          <ticker value="CMS"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50714.75</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JBS NV/JBS USA FOOD 5.50%</name>
        <lei>RB8RC03FUD8DSX57C193</lei>
        <title>JBS NV/JBS USA FOOD 5.50%</title>
        <cusip>472140AF9</cusip>
        <identifiers>
          <isin value="US472140AF96"/>
          <ticker value="JBS"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>798836.64</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. IN F2F</title>
        <cusip>38145GAR1</cusip>
        <identifiers>
          <isin value="US38145GAR11"/>
          <ticker value="GS"/>
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        <balance>640000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>627922.25</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.516000000000</annualizedRt>
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      <invstOrSec>
        <name>ATHENE HLDG. LTD 6.25%</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>ATHENE HLDG. LTD 6.25%</title>
        <cusip>04686JAH4</cusip>
        <identifiers>
          <isin value="US04686JAH41"/>
          <ticker value="ATH"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>92132.68</valUSD>
        <pctVal>0.0030587501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</annualizedRt>
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        <name>PRUDENTIAL FINL. IN 5.20%</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>PRUDENTIAL FINL. IN 5.20%</title>
        <cusip>74432QCK9</cusip>
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          <isin value="US74432QCK94"/>
          <ticker value="PRU"/>
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        <curCd>USD</curCd>
        <valUSD>401235.92</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE OR FREDD 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE OR FREDD 3.00%</title>
        <cusip>01F030678</cusip>
        <identifiers>
          <isin value="US01F0306781"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>5753343.75</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3138EEP60</cusip>
        <identifiers>
          <isin value="US3138EEP606"/>
          <ticker value="FNMA"/>
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        <balance>22206.24</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21408.8</valUSD>
        <pctVal>0.0007107594</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 6.00%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FREDDIE MAC POOL 6.00%</title>
        <cusip>3132DTU57</cusip>
        <identifiers>
          <isin value="US3132DTU575"/>
          <ticker value="FHLB"/>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 3.00%</name>
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      <invstOrSec>
        <name>BANK 2018-BNK15 VAR</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 2.537%</name>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>LOCKHEED MARTIN COR 3.60%</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
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        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <cusip>36179RNV7</cusip>
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          <ticker value="GNR"/>
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        <name>AUTOZONE INC 4.00%</name>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US31418DQ882"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31417D2J1</cusip>
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        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3138E9K33</cusip>
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          <ticker value="FNMA"/>
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        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3138WFRN8</cusip>
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        <name>HALLIBURTON CO 4.85%</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>HALLIBURTON CO 4.85%</title>
        <cusip>406216BJ9</cusip>
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          <ticker value="HAL"/>
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        <balance>275000</balance>
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        <curCd>USD</curCd>
        <valUSD>267022.79</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3140E7GV6</cusip>
        <identifiers>
          <isin value="US3140E7GV65"/>
          <ticker value="FNMA"/>
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        <balance>51900.05</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50469.51</valUSD>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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        <name>UNITED STATES TSY. 2.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.875%</title>
        <cusip>912810RU4</cusip>
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          <ticker value="T"/>
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        <balance>1500000</balance>
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        <curCd>USD</curCd>
        <valUSD>1095585.93</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>FORTINET INC 2.20%</name>
        <lei>549300O0QJWDBAS0QX03</lei>
        <title>FORTINET INC 2.20%</title>
        <cusip>34959EAB5</cusip>
        <identifiers>
          <isin value="US34959EAB56"/>
          <ticker value="FTNT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89343.03</valUSD>
        <pctVal>0.0029661353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.200000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PERUVIAN GOV. INTL. 3.30%</name>
        <lei>254900STKLK2DBJJZ530</lei>
        <title>PERUVIAN GOV. INTL. 3.30%</title>
        <cusip>715638DS8</cusip>
        <identifiers>
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          <ticker value="PERU"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>386550</valUSD>
        <pctVal>0.0128332296</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-03-11</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BP CAPITAL MARKETS 3.279%</name>
        <lei>549300CRVT18MXX0AG93</lei>
        <title>BP CAPITAL MARKETS 3.279%</title>
        <cusip>05565QDN5</cusip>
        <identifiers>
          <isin value="US05565QDN51"/>
          <ticker value="BPLN"/>
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        <balance>138000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>136413.28</valUSD>
        <pctVal>0.0045288396</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-19</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 2.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.875%</title>
        <cusip>9128284V9</cusip>
        <identifiers>
          <isin value="US9128284V99"/>
          <ticker value="T"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5843906.28</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>COCA-COLA CO/THE 1.50%</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>COCA-COLA CO/THE 1.50%</title>
        <cusip>191216DJ6</cusip>
        <identifiers>
          <isin value="US191216DJ60"/>
          <ticker value="KO"/>
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        <balance>81000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77515.97</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133AYL32</cusip>
        <identifiers>
          <isin value="US3133AYL321"/>
          <ticker value="FHLMC"/>
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        <balance>735222</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>596144.5</valUSD>
        <pctVal>0.0197916420</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3138WF5Y8</cusip>
        <identifiers>
          <isin value="US3138WF5Y82"/>
          <ticker value="FNMA"/>
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        <balance>297980.34</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>276481.08</valUSD>
        <pctVal>0.0091790070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GHG7</cusip>
        <identifiers>
          <isin value="US06051GHG73"/>
          <ticker value="BAC"/>
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        <balance>837000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>828012.57</valUSD>
        <pctVal>0.0274895237</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.970000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONNECTICUT LIGHT A 5.25%</name>
        <lei>549300O45IUXEDS1VZ32</lei>
        <title>CONNECTICUT LIGHT A 5.25%</title>
        <cusip>207597EP6</cusip>
        <identifiers>
          <isin value="US207597EP64"/>
          <ticker value="ES"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>469547.43</valUSD>
        <pctVal>0.0155886948</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INDONESIA GOV. INTL 5.65%</name>
        <lei>529900FWX0GRR7WG5W79</lei>
        <title>INDONESIA GOV. INTL 5.65%</title>
        <cusip>455780DS2</cusip>
        <identifiers>
          <isin value="US455780DS23"/>
          <ticker value="INDON"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>293838.58</valUSD>
        <pctVal>0.0097552657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="291826.800000000000"/>
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      <invstOrSec>
        <name>FISERV INC 3.50%</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>FISERV INC 3.50%</title>
        <cusip>337738AU2</cusip>
        <identifiers>
          <isin value="US337738AU25"/>
          <ticker value="FISV"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>191945.97</valUSD>
        <pctVal>0.0063724918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="124764.870000000000"/>
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      <invstOrSec>
        <name>ESSEX PORTFOLIO LP 3.00%</name>
        <lei>5493003GN3O58H286O74</lei>
        <title>ESSEX PORTFOLIO LP 3.00%</title>
        <cusip>29717PAU1</cusip>
        <identifiers>
          <isin value="US29717PAU12"/>
          <ticker value="ESS"/>
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        <balance>154000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145355.38</valUSD>
        <pctVal>0.0048257120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>3132A5H24</cusip>
        <identifiers>
          <isin value="US3132A5H248"/>
          <ticker value="FHLB"/>
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        <balance>79453.98</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77613.58</valUSD>
        <pctVal>0.0025767246</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY CAP 3.261%</name>
        <lei>N/A</lei>
        <title>MORGAN STANLEY CAP 3.261%</title>
        <cusip>61771MAW0</cusip>
        <identifiers>
          <isin value="US61771MAW01"/>
          <ticker value="MSC"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>238754.65</valUSD>
        <pctVal>0.0079265121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2052-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.261000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CUBESMART LP 3.00%</name>
        <lei>549300MPHKO3I3FJRA97</lei>
        <title>CUBESMART LP 3.00%</title>
        <cusip>22966RAF3</cusip>
        <identifiers>
          <isin value="US22966RAF38"/>
          <ticker value="CUBE"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>376247</valUSD>
        <pctVal>0.0124911761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>254900C5LP6DN9OP9V83</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>3132DMFC4</cusip>
        <identifiers>
          <isin value="US3132DMFC47"/>
          <ticker value="FHLMC"/>
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        <balance>489880.08</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>435870.98</valUSD>
        <pctVal>0.0144706567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EXELON CORP 4.10%</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>EXELON CORP 4.10%</title>
        <cusip>30161NBH3</cusip>
        <identifiers>
          <isin value="US30161NBH35"/>
          <ticker value="EXC"/>
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        <balance>550000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>421183.64</valUSD>
        <pctVal>0.0139830458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MPLX LP 5.65%</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP 5.65%</title>
        <cusip>55336VBW9</cusip>
        <identifiers>
          <isin value="US55336VBW90"/>
          <ticker value="MPLX"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93285.33</valUSD>
        <pctVal>0.0030970173</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3128LXUQ1</cusip>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36179TZ65</cusip>
        <identifiers>
          <isin value="US36179TZ650"/>
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        <balance>137253.3</balance>
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        <curCd>USD</curCd>
        <valUSD>134364.33</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <cusip>36291PY42</cusip>
        <identifiers>
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        <balance>7784.74</balance>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CAPITAL ONE FINL. COR F2F</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>VERISK ANALYTICS IN 5.75%</name>
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          <ticker value="VRSK"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140KFNB7</cusip>
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          <ticker value="FNMA"/>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HSBC BANK USA NA 7.00%</name>
        <lei>1IE8VN30JCEQV1H4R804</lei>
        <title>HSBC BANK USA NA 7.00%</title>
        <cusip>4042Q1AD9</cusip>
        <identifiers>
          <isin value="US4042Q1AD94"/>
          <ticker value="HSBC"/>
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        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>394709.42</valUSD>
        <pctVal>0.0131041175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>DUKE ENERGY INDIAN 6.35%</name>
        <lei>6URPHM2EAWGJ2C6ISB97</lei>
        <title>DUKE ENERGY INDIAN 6.35%</title>
        <cusip>263901AA8</cusip>
        <identifiers>
          <isin value="US263901AA85"/>
          <ticker value="DUK"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27240.28</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HUMANA INC 5.50%</name>
        <lei>529900YLDW34GJAO4J06</lei>
        <title>HUMANA INC 5.50%</title>
        <cusip>444859BX9</cusip>
        <identifiers>
          <isin value="US444859BX93"/>
          <ticker value="HUM"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>271853.07</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>Fixed</couponKind>
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      <invstOrSec>
        <name>EXTRA SPACE STORAGE 5.70%</name>
        <lei>549300YNKSKNZFR8UC42</lei>
        <title>EXTRA SPACE STORAGE 5.70%</title>
        <cusip>30225VAJ6</cusip>
        <identifiers>
          <isin value="US30225VAJ61"/>
          <ticker value="EXR"/>
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        <balance>700000</balance>
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        <curCd>USD</curCd>
        <valUSD>712180.27</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>31418DTM4</cusip>
        <identifiers>
          <isin value="US31418DTM47"/>
          <ticker value="FNMA"/>
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        <balance>764354.26</balance>
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        <curCd>USD</curCd>
        <valUSD>698456.83</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ROSS STORES INC 1.875%</name>
        <lei>549300ENZFLPGRDFZQ60</lei>
        <title>ROSS STORES INC 1.875%</title>
        <cusip>778296AG8</cusip>
        <identifiers>
          <isin value="US778296AG89"/>
          <ticker value="ROST"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>176354.19</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BARCLAYS COMMERCIA 2.919%</name>
        <lei>N/A</lei>
        <title>BARCLAYS COMMERCIA 2.919%</title>
        <cusip>07335CAF1</cusip>
        <identifiers>
          <isin value="US07335CAF14"/>
          <ticker value="BBCMS"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>472430.8</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MERCK INC 4.50%</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MERCK INC 4.50%</title>
        <cusip>58933YBK0</cusip>
        <identifiers>
          <isin value="US58933YBK01"/>
          <ticker value="MRK"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>988609.53</valUSD>
        <pctVal>0.0328212471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>UNILEVER CAP. CORP 4.875%</name>
        <lei>MYF1DAS6G5WY7PRWCU78</lei>
        <title>UNILEVER CAP. CORP 4.875%</title>
        <cusip>904764BS5</cusip>
        <identifiers>
          <isin value="US904764BS55"/>
          <ticker value="UNANA"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>404216.76</valUSD>
        <pctVal>0.0134197555</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENBRIDGE INC 5.95%</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>ENBRIDGE INC 5.95%</title>
        <cusip>29250NCD5</cusip>
        <identifiers>
          <isin value="US29250NCD57"/>
          <ticker value="ENBCN"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100257.86</valUSD>
        <pctVal>0.0033285012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133ADEV4</cusip>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140QKLF3</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SEMPRA 6.00%</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>SEMPRA 6.00%</title>
        <cusip>816851AP4</cusip>
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          <isin value="US816851AP42"/>
          <ticker value="SRE"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>256481.01</valUSD>
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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>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>36202FB47</cusip>
        <identifiers>
          <isin value="US36202FB478"/>
          <ticker value="GNR"/>
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        <balance>58857.94</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59814.18</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RIO TINTO FIN. USA 4.50%</name>
        <lei>2138006TSNBEUA761G16</lei>
        <title>RIO TINTO FIN. USA 4.50%</title>
        <cusip>76720AAR7</cusip>
        <identifiers>
          <isin value="US76720AAR77"/>
          <ticker value="RIOLN"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250421.38</valUSD>
        <pctVal>0.0083138405</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
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        <identifiers>
          <isin value="US3138W9JV33"/>
          <ticker value="FNMA"/>
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        <balance>64522.99</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>61748.13</valUSD>
        <pctVal>0.0020500011</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <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>
        <name>REGAL REXNORD CORP 6.05%</name>
        <lei>QH78R09VCJGQKPBPYU33</lei>
        <title>REGAL REXNORD CORP 6.05%</title>
        <cusip>758750AM5</cusip>
        <identifiers>
          <isin value="US758750AM58"/>
          <ticker value="RRX"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510529.11</valUSD>
        <pctVal>0.0169492621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MASTEC INC 5.90%</name>
        <lei>549300TMDIT8WREDOF45</lei>
        <title>MASTEC INC 5.90%</title>
        <cusip>576323AT6</cusip>
        <identifiers>
          <isin value="US576323AT63"/>
          <ticker value="MTZ"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102900.59</valUSD>
        <pctVal>0.0034162382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.900000000000</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>HASBRO INC 6.35%</name>
        <lei>549300NUB6D2R1ITYR45</lei>
        <title>HASBRO INC 6.35%</title>
        <cusip>418056AS6</cusip>
        <identifiers>
          <isin value="US418056AS62"/>
          <ticker value="HAS"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>52313.07</valUSD>
        <pctVal>0.0017367627</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.350000000000</annualizedRt>
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          <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>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.00%</title>
        <cusip>36202FB62</cusip>
        <identifiers>
          <isin value="US36202FB627"/>
          <ticker value="GNR"/>
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        <balance>32820.82</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34505.87</valUSD>
        <pctVal>0.0011455743</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179WG36</cusip>
        <identifiers>
          <isin value="US36179WG365"/>
          <ticker value="GNR"/>
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        <balance>2702055.76</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2310861.42</valUSD>
        <pctVal>0.0767192216</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3132DMU94</cusip>
        <identifiers>
          <isin value="US3132DMU943"/>
          <ticker value="FHLMC"/>
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        <balance>2366130.16</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2037350.74</valUSD>
        <pctVal>0.0676388301</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137FHQ71</cusip>
        <identifiers>
          <isin value="US3137FHQ713"/>
          <ticker value="FHLMC"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95896.07</valUSD>
        <pctVal>0.0031836924</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.990000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>3133KGU22</cusip>
        <identifiers>
          <isin value="US3133KGU229"/>
          <ticker value="FHLMC"/>
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        <balance>104049.98</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>91888.34</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <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>BAKER HUGHES HLDGS 5.125%</name>
        <lei>549300XU3XH6F05YEQ93</lei>
        <title>BAKER HUGHES HLDGS 5.125%</title>
        <cusip>057224AZ0</cusip>
        <identifiers>
          <isin value="US057224AZ09"/>
          <ticker value="BHI"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95867.69</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.125000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <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>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31416YCE6</cusip>
        <identifiers>
          <isin value="US31416YCE68"/>
          <ticker value="FNMA"/>
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        <balance>118505.14</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117192.67</valUSD>
        <pctVal>0.0038907268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITEDHEALTH GROUP 4.00%</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GROUP 4.00%</title>
        <cusip>91324PEH1</cusip>
        <identifiers>
          <isin value="US91324PEH10"/>
          <ticker value="UNH"/>
        </identifiers>
        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>591651.65</valUSD>
        <pctVal>0.0196424821</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>MOTOROLA SOLS. INC 5.60%</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>MOTOROLA SOLS. INC 5.60%</title>
        <cusip>620076BW8</cusip>
        <identifiers>
          <isin value="US620076BW88"/>
          <ticker value="MSI"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>411644.28</valUSD>
        <pctVal>0.0136663447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</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>BAT CAPITAL CORP 4.906%</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT CAPITAL CORP 4.906%</title>
        <cusip>05526DBN4</cusip>
        <identifiers>
          <isin value="US05526DBN49"/>
          <ticker value="BATSLN"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>401975.1</valUSD>
        <pctVal>0.0133453337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.906000000000</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>CROWN CASTLE INC 3.30%</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>CROWN CASTLE INC 3.30%</title>
        <cusip>22822VAR2</cusip>
        <identifiers>
          <isin value="US22822VAR24"/>
          <ticker value="CCI"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>188455.31</valUSD>
        <pctVal>0.0062566040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.300000000000</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>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36202FVF0</cusip>
        <identifiers>
          <isin value="US36202FVF07"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>281141.23</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>270206.68</valUSD>
        <pctVal>0.0089707007</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3138APTM0</cusip>
        <identifiers>
          <isin value="US3138APTM01"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>111908.69</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>108202.22</valUSD>
        <pctVal>0.0035922492</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>NIKE INC 2.85%</name>
        <lei>787RXPR0UX0O0XUXPZ81</lei>
        <title>NIKE INC 2.85%</title>
        <cusip>654106AK9</cusip>
        <identifiers>
          <isin value="US654106AK94"/>
          <ticker value="NKE"/>
        </identifiers>
        <balance>1050000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>990008.91</valUSD>
        <pctVal>0.0328677057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.850000000000</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>EOG RES. INC 4.95%</name>
        <lei>XWTZDRYZPBUHIQBKDB46</lei>
        <title>EOG RES. INC 4.95%</title>
        <cusip>26875PAT8</cusip>
        <identifiers>
          <isin value="US26875PAT84"/>
          <ticker value="EOG"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89346.13</valUSD>
        <pctVal>0.0029662383</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</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>NXP BV / NXP FNDG. 3.40%</name>
        <lei>N/A</lei>
        <title>NXP BV / NXP FNDG. 3.40%</title>
        <cusip>62954HAY4</cusip>
        <identifiers>
          <isin value="US62954HAY45"/>
          <ticker value="NXPI"/>
        </identifiers>
        <balance>1280000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1219191.05</valUSD>
        <pctVal>0.0404764161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.400000000000</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>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>36179YHR8</cusip>
        <identifiers>
          <isin value="US36179YHR80"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>669293.03</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>662592.35</valUSD>
        <pctVal>0.0219976710</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>ROYALTY PHARMA PLC 5.90%</name>
        <lei>549300FGFN7VOK8BZR03</lei>
        <title>ROYALTY PHARMA PLC 5.90%</title>
        <cusip>78081BAS2</cusip>
        <identifiers>
          <isin value="US78081BAS25"/>
          <ticker value="RPRX"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98926.28</valUSD>
        <pctVal>0.0032842935</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.900000000000</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>PUGET SOUND ENERGY 5.33%</name>
        <lei>8MNFJR7KOMBQ7X62LK44</lei>
        <title>PUGET SOUND ENERGY 5.33%</title>
        <cusip>745332CM6</cusip>
        <identifiers>
          <isin value="US745332CM68"/>
          <ticker value="PSD"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510127.49</valUSD>
        <pctVal>0.0169359286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.330000000000</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>ESTEE LAUDER COS IN 5.15%</name>
        <lei>549300VFZ8XJ9NUPU221</lei>
        <title>ESTEE LAUDER COS IN 5.15%</title>
        <cusip>29736RAU4</cusip>
        <identifiers>
          <isin value="US29736RAU41"/>
          <ticker value="EL"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>90517.93</valUSD>
        <pctVal>0.0030051413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</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>AES CORP/THE 5.45%</name>
        <lei>2NUNNB7D43COUIRE5295</lei>
        <title>AES CORP/THE 5.45%</title>
        <cusip>00130HCH6</cusip>
        <identifiers>
          <isin value="US00130HCH66"/>
          <ticker value="AES"/>
        </identifiers>
        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>353845.53</valUSD>
        <pctVal>0.0117474607</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.450000000000</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>PLAINS ALL AMERICAN 3.80%</name>
        <lei>N/A</lei>
        <title>PLAINS ALL AMERICAN 3.80%</title>
        <cusip>72650RBN1</cusip>
        <identifiers>
          <isin value="US72650RBN17"/>
          <ticker value="PAA"/>
        </identifiers>
        <balance>137000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>131454.97</valUSD>
        <pctVal>0.0043642266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.800000000000</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>EQUINIX INC 2.15%</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>EQUINIX INC 2.15%</title>
        <cusip>29444UBH8</cusip>
        <identifiers>
          <isin value="US29444UBH86"/>
          <ticker value="EQIX"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>901556.04</valUSD>
        <pctVal>0.0299311231</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.150000000000</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>PUBLIC SERV. ELEC. 3.65%</name>
        <lei>549300RUHPVD434XUK18</lei>
        <title>PUBLIC SERV. ELEC. 3.65%</title>
        <cusip>74456QBA3</cusip>
        <identifiers>
          <isin value="US74456QBA31"/>
          <ticker value="PEG"/>
        </identifiers>
        <balance>30000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23869.07</valUSD>
        <pctVal>0.0007924389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.650000000000</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>ASTRAZENECA PLC 4.00%</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>ASTRAZENECA PLC 4.00%</title>
        <cusip>046353AG3</cusip>
        <identifiers>
          <isin value="US046353AG32"/>
          <ticker value="AZN"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>212053.82</valUSD>
        <pctVal>0.0070400604</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-09-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 6.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.50%</title>
        <cusip>36179YKU7</cusip>
        <identifiers>
          <isin value="US36179YKU72"/>
          <ticker value="GNR"/>
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        <balance>180414.5</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>187438.35</valUSD>
        <pctVal>0.0062228415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 7.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 7.50%</title>
        <cusip>36179YMP6</cusip>
        <identifiers>
          <isin value="US36179YMP69"/>
          <ticker value="GNR"/>
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        <balance>31589.14</balance>
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        <curCd>USD</curCd>
        <valUSD>32812.7</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>7.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WESTLAKE CHEM. COR 3.375%</name>
        <lei>GOXNEVUM0LL78B1OS344</lei>
        <title>WESTLAKE CHEM. COR 3.375%</title>
        <cusip>960413AW2</cusip>
        <identifiers>
          <isin value="US960413AW24"/>
          <ticker value="WLK"/>
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        <balance>249000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>236281.07</valUSD>
        <pctVal>0.0078443907</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3133A6GU9</cusip>
        <identifiers>
          <isin value="US3133A6GU94"/>
          <ticker value="FHLMC"/>
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        <balance>405339.64</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>340946.54</valUSD>
        <pctVal>0.0113192219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CENCORA INC 5.125%</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>CENCORA INC 5.125%</title>
        <cusip>03073EAU9</cusip>
        <identifiers>
          <isin value="US03073EAU91"/>
          <ticker value="COR"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>150531.93</valUSD>
        <pctVal>0.0049975703</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.125000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VIRGINIA POWER FUE 4.877%</name>
        <lei>254900BELJ95ONW6U791</lei>
        <title>VIRGINIA POWER FUE 4.877%</title>
        <cusip>92808VAB8</cusip>
        <identifiers>
          <isin value="US92808VAB80"/>
          <ticker value="VIRPFS"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100517.87</valUSD>
        <pctVal>0.0033371334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.877000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133KKD48</cusip>
        <identifiers>
          <isin value="US3133KKD482"/>
          <ticker value="FHLMC"/>
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        <balance>1049911.26</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>852108.89</valUSD>
        <pctVal>0.0282895072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140X8MS3</cusip>
        <identifiers>
          <isin value="US3140X8MS38"/>
          <ticker value="FNMA"/>
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        <balance>1034620.86</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>844522.08</valUSD>
        <pctVal>0.0280376296</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PHILIP MORRIS INTL 4.875%</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTL 4.875%</title>
        <cusip>718172DG1</cusip>
        <identifiers>
          <isin value="US718172DG16"/>
          <ticker value="PM"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>604541.16</valUSD>
        <pctVal>0.0200704061</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>31418FBP1</cusip>
        <identifiers>
          <isin value="US31418FBP18"/>
          <ticker value="FNMA"/>
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        <balance>2836858.95</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2902434.85</valUSD>
        <pctVal>0.0963591069</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
        <cusip>3131Y2FT0</cusip>
        <identifiers>
          <isin value="US3131Y2FT05"/>
          <ticker value="FHLMC"/>
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        <balance>114907.78</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>114984.13</valUSD>
        <pctVal>0.0038174046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 1.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.625%</title>
        <cusip>912828YB0</cusip>
        <identifiers>
          <isin value="US912828YB05"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4633398.45</valUSD>
        <pctVal>0.1538260666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MASCO CORP 1.50%</name>
        <lei>5GCSNMQXHEYA1JO8QN11</lei>
        <title>MASCO CORP 1.50%</title>
        <cusip>574599BS4</cusip>
        <identifiers>
          <isin value="US574599BS40"/>
          <ticker value="MAS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>475751.97</valUSD>
        <pctVal>0.0157946818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COCA-COLA CO/THE 2.00%</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>COCA-COLA CO/THE 2.00%</title>
        <cusip>191216DK3</cusip>
        <identifiers>
          <isin value="US191216DK34"/>
          <ticker value="KO"/>
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        <balance>1204000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1081049.43</valUSD>
        <pctVal>0.0358901967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ELI LILLY &amp; CO 4.60%</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>ELI LILLY &amp; CO 4.60%</title>
        <cusip>532457CR7</cusip>
        <identifiers>
          <isin value="US532457CR72"/>
          <ticker value="LLY"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>494345.77</valUSD>
        <pctVal>0.0164119849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HCA INC 5.95%</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA INC 5.95%</title>
        <cusip>404121AL9</cusip>
        <identifiers>
          <isin value="US404121AL94"/>
          <ticker value="HCA"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98113.79</valUSD>
        <pctVal>0.0032573193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDEX CORP 4.10%</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FEDEX CORP 4.10%</title>
        <cusip>31428XDN3</cusip>
        <identifiers>
          <isin value="US31428XDN30"/>
          <ticker value="FDX"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>253749.46</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>T-MOBILE USA INC 5.70%</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 5.70%</title>
        <cusip>87264ADY8</cusip>
        <identifiers>
          <isin value="US87264ADY82"/>
          <ticker value="TMUS"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>236615.99</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EQUIFAX INC 2.35%</name>
        <lei>5493004MCF8JDC86VS77</lei>
        <title>EQUIFAX INC 2.35%</title>
        <cusip>294429AT2</cusip>
        <identifiers>
          <isin value="US294429AT25"/>
          <ticker value="EFX"/>
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        <balance>380000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>334230.41</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.350000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHENIERE CORPUS CH 2.742%</name>
        <lei>549300I7CIEWU1BBLQ53</lei>
        <title>CHENIERE CORPUS CH 2.742%</title>
        <cusip>16412XAL9</cusip>
        <identifiers>
          <isin value="US16412XAL91"/>
          <ticker value="CHCOCH"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>255549.48</valUSD>
        <pctVal>0.0084840904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ESSENTIAL UTILITIES 4.80%</name>
        <lei>549300ILTEOF3E3QY357</lei>
        <title>ESSENTIAL UTILITIES 4.80%</title>
        <cusip>29670GAJ1</cusip>
        <identifiers>
          <isin value="US29670GAJ13"/>
          <ticker value="WTRG"/>
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        <balance>600000</balance>
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        <curCd>USD</curCd>
        <valUSD>601834.82</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KROGER CO/THE 5.65%</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>KROGER CO/THE 5.65%</title>
        <cusip>501044DX6</cusip>
        <identifiers>
          <isin value="US501044DX60"/>
          <ticker value="KR"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93717.54</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LANDWIRTSCHAFTLICH 3.875%</name>
        <lei>529900Z3J0N6S0F7CT25</lei>
        <title>LANDWIRTSCHAFTLICH 3.875%</title>
        <cusip>515110CD4</cusip>
        <identifiers>
          <isin value="US515110CD49"/>
          <ticker value="RENTEN"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>497091.95</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CBRE SERVS. INC 5.95%</name>
        <lei>549300CTE3HOMEUMM603</lei>
        <title>CBRE SERVS. INC 5.95%</title>
        <cusip>12505BAG5</cusip>
        <identifiers>
          <isin value="US12505BAG59"/>
          <ticker value="CBG"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>208392.51</valUSD>
        <pctVal>0.0069185071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PG&amp;E WILDFIRE REC. 3.594%</name>
        <lei>N/A</lei>
        <title>PG&amp;E WILDFIRE REC. 3.594%</title>
        <cusip>693342AA5</cusip>
        <identifiers>
          <isin value="US693342AA56"/>
          <ticker value="PCG"/>
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        <balance>10308.89</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10067.49</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3140XJDV2</cusip>
        <identifiers>
          <isin value="US3140XJDV21"/>
          <ticker value="FNMA"/>
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        <balance>370787.22</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>350255.94</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>36179XNG7</cusip>
        <identifiers>
          <isin value="US36179XNG78"/>
          <ticker value="GNR"/>
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        <balance>1168861.24</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1184926.16</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>36179XQW9</cusip>
        <identifiers>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>1369948.03</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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      <invstOrSec>
        <name>ACCENTURE CAP. INC 4.25%</name>
        <lei>254900FRO0P7RIINYT25</lei>
        <title>ACCENTURE CAP. INC 4.25%</title>
        <cusip>00440KAC7</cusip>
        <identifiers>
          <isin value="US00440KAC71"/>
          <ticker value="ACN"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>195160.99</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</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>
        <name>BGC GRP. INC 6.60%</name>
        <lei>2549001IGRCG4F0RLD36</lei>
        <title>BGC GRP. INC 6.60%</title>
        <cusip>05555LAB7</cusip>
        <identifiers>
          <isin value="US05555LAB71"/>
          <ticker value="BGCP"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103102.5</valUSD>
        <pctVal>0.0034229415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.600000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MICROSOFT CORP 4.50%</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>MICROSOFT CORP 4.50%</title>
        <cusip>594918CU6</cusip>
        <identifiers>
          <isin value="US594918CU62"/>
          <ticker value="MSFT"/>
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        <balance>900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>785146.55</valUSD>
        <pctVal>0.0260663974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31418E4Q0</cusip>
        <identifiers>
          <isin value="US31418E4Q06"/>
          <ticker value="FNMA"/>
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        <balance>48445.16</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49259.88</valUSD>
        <pctVal>0.0016353987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TARGA RES. CORP 6.125%</name>
        <lei>5493003QENHHS261UR94</lei>
        <title>TARGA RES. CORP 6.125%</title>
        <cusip>87612GAC5</cusip>
        <identifiers>
          <isin value="US87612GAC50"/>
          <ticker value="TRGP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>526726.46</valUSD>
        <pctVal>0.0174870045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEXICO GOV. INTL. B 5.40%</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEXICO GOV. INTL. B 5.40%</title>
        <cusip>91087BAU4</cusip>
        <identifiers>
          <isin value="US91087BAU44"/>
          <ticker value="MEX"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1006050</valUSD>
        <pctVal>0.0334002603</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FAIRFAX FINL. HLDGS 6.35%</name>
        <lei>GLS7OQD0WOEDI8YAP031</lei>
        <title>FAIRFAX FINL. HLDGS 6.35%</title>
        <cusip>303901BR2</cusip>
        <identifiers>
          <isin value="US303901BR22"/>
          <ticker value="FFHCN"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204415.37</valUSD>
        <pctVal>0.0067864684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOYOTA MOTOR CREDIT 4.35%</name>
        <lei>Z2VZBHUMB7PWWJ63I008</lei>
        <title>TOYOTA MOTOR CREDIT 4.35%</title>
        <cusip>89236TMS1</cusip>
        <identifiers>
          <isin value="US89236TMS14"/>
          <ticker value="TOYOTA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500334.05</valUSD>
        <pctVal>0.0166107922</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="505409.000000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>3140XJNC3</cusip>
        <identifiers>
          <isin value="US3140XJNC30"/>
          <ticker value="FNMA"/>
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        <balance>1387452.55</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1398206.1</valUSD>
        <pctVal>0.0464196091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ONCOR ELECTRIC DELI 4.15%</name>
        <lei>549300SP2X2BS1KERD24</lei>
        <title>ONCOR ELECTRIC DELI 4.15%</title>
        <cusip>68233JCF9</cusip>
        <identifiers>
          <isin value="US68233JCF93"/>
          <ticker value="ONCRTX"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194050.91</valUSD>
        <pctVal>0.0064423745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.375%</title>
        <cusip>91282CMK4</cusip>
        <identifiers>
          <isin value="US91282CMK44"/>
          <ticker value="T"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5032226.55</valUSD>
        <pctVal>0.1670669218</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PROLOGIS LP 4.75%</name>
        <lei>GL16H1DHB0QSHP25F723</lei>
        <title>PROLOGIS LP 4.75%</title>
        <cusip>74340XCQ2</cusip>
        <identifiers>
          <isin value="US74340XCQ25"/>
          <ticker value="PLD"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>402058.48</valUSD>
        <pctVal>0.0133481019</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</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>MANUFACTURERS &amp; TRA 4.70%</name>
        <lei>WWB2V0FCW3A0EE3ZJN75</lei>
        <title>MANUFACTURERS &amp; TRA 4.70%</title>
        <cusip>55279HAW0</cusip>
        <identifiers>
          <isin value="US55279HAW07"/>
          <ticker value="MTB"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501195.89</valUSD>
        <pctVal>0.0166394048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF NEW YORK MELL F2F</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>BANK OF NEW YORK MELL F2F</title>
        <cusip>06406RBP1</cusip>
        <identifiers>
          <isin value="US06406RBP10"/>
          <ticker value="BNY"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>491814.52</valUSD>
        <pctVal>0.0163279489</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.706000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VODAFONE GRP. PLC 5.875%</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>VODAFONE GRP. PLC 5.875%</title>
        <cusip>92857WCB4</cusip>
        <identifiers>
          <isin value="US92857WCB46"/>
          <ticker value="VOD"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>283549.47</valUSD>
        <pctVal>0.0094136734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-06-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="7565.240000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>ONEOK INC 5.85%</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK INC 5.85%</title>
        <cusip>682680CG6</cusip>
        <identifiers>
          <isin value="US682680CG69"/>
          <ticker value="OKE"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93418.37</valUSD>
        <pctVal>0.0031014342</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.850000000000</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>FANNIE MAE OR FREDD 6.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE OR FREDD 6.50%</title>
        <cusip>01F062671</cusip>
        <identifiers>
          <isin value="US01F0626717"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>6300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6516513.99</valUSD>
        <pctVal>0.2163443800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE OR FREDD 7.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE OR FREDD 7.00%</title>
        <cusip>01F070674</cusip>
        <identifiers>
          <isin value="US01F0706741"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>1100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1161043.77</valUSD>
        <pctVal>0.0385459611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BANK AG/NEW F2F</name>
        <lei>N/A</lei>
        <title>DEUTSCHE BANK AG/NEW F2F</title>
        <cusip>251526CT4</cusip>
        <identifiers>
          <isin value="US251526CT41"/>
          <ticker value="DB"/>
        </identifiers>
        <balance>900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>971539.07</valUSD>
        <pctVal>0.0322545180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.079000000000</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>HSBC HLDGS. PLC F2F</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HLDGS. PLC F2F</title>
        <cusip>404280DU0</cusip>
        <identifiers>
          <isin value="US404280DU06"/>
          <ticker value="HSBC"/>
        </identifiers>
        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>767682.31</valUSD>
        <pctVal>0.0254865951</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.161000000000</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>SUMITOMO MITSUI FI 5.776%</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>SUMITOMO MITSUI FI 5.776%</title>
        <cusip>86562MDD9</cusip>
        <identifiers>
          <isin value="US86562MDD92"/>
          <ticker value="SUMIBK"/>
        </identifiers>
        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>830155.39</valUSD>
        <pctVal>0.0275606641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.776000000000</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>CHILE GOV. INTL. BO 5.33%</name>
        <lei>549300FLZTJM5YJF8D34</lei>
        <title>CHILE GOV. INTL. BO 5.33%</title>
        <cusip>168863EA2</cusip>
        <identifiers>
          <isin value="US168863EA21"/>
          <ticker value="CHILE"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>FANNIE MAE OR FREDD 6.00%</name>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
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      <invstOrSec>
        <name>ARTHUR J GALLAGHER 5.75%</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>MARSH &amp; MCLENNAN CO 5.45%</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <valUSD>134063.66</valUSD>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>SANTANDER HLDGS. USA F2F</name>
        <lei>549300SMVCQN2P0O6I58</lei>
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        <curCd>USD</curCd>
        <valUSD>307766.75</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>S&amp;P GBL. INC 3.70%</name>
        <lei>Y6X4K52KMJMZE7I7MY94</lei>
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        <curCd>USD</curCd>
        <valUSD>74126.1</valUSD>
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        <name>FANNIE MAE POOL 5.00%</name>
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        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
        <valUSD>153956.9</valUSD>
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        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140Q9TY9</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>57273.24</valUSD>
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          <couponKind>Fixed</couponKind>
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        <name>KAISER FOUNDATION 3.266%</name>
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        <title>KAISER FOUNDATION 3.266%</title>
        <cusip>48305QAE3</cusip>
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          <ticker value="KPERM"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>347027.82</valUSD>
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        <name>SIMON PROP. GRP. LP 5.50%</name>
        <lei>MR92GTD0MJTTTTQDVG45</lei>
        <title>SIMON PROP. GRP. LP 5.50%</title>
        <cusip>828807DU8</cusip>
        <identifiers>
          <isin value="US828807DU83"/>
          <ticker value="SPG"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>309999.53</valUSD>
        <pctVal>0.0102917996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>PROLOGIS LP 5.25%</name>
        <lei>GL16H1DHB0QSHP25F723</lei>
        <title>PROLOGIS LP 5.25%</title>
        <cusip>74340XCF6</cusip>
        <identifiers>
          <isin value="US74340XCF69"/>
          <ticker value="PLD"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94770.85</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>NOV INC 3.60%</name>
        <lei>549300EHF3IW1AR6U008</lei>
        <title>NOV INC 3.60%</title>
        <cusip>637071AM3</cusip>
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        <curCd>USD</curCd>
        <valUSD>144256.35</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>31418DQ21</cusip>
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          <isin value="US31418DQ213"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>153770.95</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>RTX CORP 6.00%</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ENBRIDGE INC 6.00%</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
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        <identifiers>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
        <valUSD>412224.18</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ALLY FINL. INC F2F</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>ALLY FINL. INC F2F</title>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>519814.38</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>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3133KJNB4</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FEDERAL NATL. MTGE 0.875%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3135G05Q2</cusip>
        <identifiers>
          <isin value="US3135G05Q27"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JETBLUE 2020-1 CLAS 4.00%</name>
        <lei>54930070J9H97ZO93T57</lei>
        <title>JETBLUE 2020-1 CLAS 4.00%</title>
        <cusip>477164AA5</cusip>
        <identifiers>
          <isin value="US477164AA59"/>
          <ticker value="JBLU"/>
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        <balance>128019.31</balance>
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        <curCd>USD</curCd>
        <valUSD>121328.05</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179VTX8</cusip>
        <identifiers>
          <isin value="US36179VTX81"/>
          <ticker value="GNR"/>
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        <balance>2923748.13</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2600482.19</valUSD>
        <pctVal>0.0863344586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITEDHEALTH GRP. I 5.50%</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GRP. I 5.50%</title>
        <cusip>91324PFD9</cusip>
        <identifiers>
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          <ticker value="UNH"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93544.55</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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      <invstOrSec>
        <name>ORACLE CORP 5.25%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 5.25%</title>
        <cusip>68389XCZ6</cusip>
        <identifiers>
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          <ticker value="ORCL"/>
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        <balance>900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>887203.41</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-03</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GILEAD SCIENCES INC 2.80%</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>GILEAD SCIENCES INC 2.80%</title>
        <cusip>375558BT9</cusip>
        <identifiers>
          <isin value="US375558BT99"/>
          <ticker value="GILD"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>315548.89</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.800000000000</annualizedRt>
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        <name>FREDDIE MAC POOL 1.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 1.50%</title>
        <cusip>3133KKVA4</cusip>
        <identifiers>
          <isin value="US3133KKVA41"/>
          <ticker value="FHLMC"/>
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        <balance>1567577.81</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1204023.66</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
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        <name>RIO TINTO FIN. USA 5.75%</name>
        <lei>2138006TSNBEUA761G16</lei>
        <title>RIO TINTO FIN. USA 5.75%</title>
        <cusip>76720AAV8</cusip>
        <identifiers>
          <isin value="US76720AAV89"/>
          <ticker value="RIOLN"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>252912.1</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>31417AXX2</cusip>
        <identifiers>
          <isin value="US31417AXX26"/>
          <ticker value="FNMA"/>
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        <balance>244072.35</balance>
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        <curCd>USD</curCd>
        <valUSD>228284.96</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138W1GA9</cusip>
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          <isin value="US3138W1GA96"/>
          <ticker value="FNMA"/>
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        <balance>164847.36</balance>
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        <curCd>USD</curCd>
        <valUSD>149068.83</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2043-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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      <invstOrSec>
        <name>SOUTHERN COPPER COR 7.50%</name>
        <lei>2549007U6NAP46Q9TU15</lei>
        <title>SOUTHERN COPPER COR 7.50%</title>
        <cusip>84265VAA3</cusip>
        <identifiers>
          <isin value="US84265VAA35"/>
          <ticker value="SCCO"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>345870.3</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-27</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 1.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 1.50%</title>
        <cusip>3140XBHF0</cusip>
        <identifiers>
          <isin value="US3140XBHF09"/>
          <ticker value="FNMA"/>
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        <balance>155769.71</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>139434.79</valUSD>
        <pctVal>0.0046291519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137H8U90</cusip>
        <identifiers>
          <isin value="US3137H8U904"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>425135.07</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC OF ITALY 5.375%</name>
        <lei>815600DE60799F5A9309</lei>
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        <identifiers>
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          <ticker value="ITALY"/>
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        <balance>175000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>181216.06</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36202FX84</cusip>
        <identifiers>
          <isin value="US36202FX845"/>
          <ticker value="GNR"/>
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        <balance>69564.85</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>66859.05</valUSD>
        <pctVal>0.0022196806</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3138MNRE2</cusip>
        <identifiers>
          <isin value="US3138MNRE27"/>
          <ticker value="FNMA"/>
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        <balance>201802.14</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>188526.3</valUSD>
        <pctVal>0.0062589608</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE-ACES 2.469%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES 2.469%</title>
        <cusip>3136B56M2</cusip>
        <identifiers>
          <isin value="US3136B56M23"/>
          <ticker value="FHLMC"/>
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        <balance>88773.45</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>84115.46</valUSD>
        <pctVal>0.0027925831</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.469000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PILGRIM S PRIDE CO 6.875%</name>
        <lei>549300ZSLGV64ZL3HD75</lei>
        <title>PILGRIM S PRIDE CO 6.875%</title>
        <cusip>72147KAL2</cusip>
        <identifiers>
          <isin value="US72147KAL26"/>
          <ticker value="PPC"/>
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        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>378169.27</valUSD>
        <pctVal>0.0125549943</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.00%</title>
        <cusip>36179YKT0</cusip>
        <identifiers>
          <isin value="US36179YKT00"/>
          <ticker value="GNR"/>
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        <balance>355592.93</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>367163.65</valUSD>
        <pctVal>0.0121896143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; CO F2F</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO F2F</title>
        <cusip>95000U3F8</cusip>
        <identifiers>
          <isin value="US95000U3F88"/>
          <ticker value="WFC"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>716840.49</valUSD>
        <pctVal>0.0237986770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.557000000000</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>
        <name>HEICO CORP 5.35%</name>
        <lei>529900O1DTDLCJ7L0I14</lei>
        <title>HEICO CORP 5.35%</title>
        <cusip>422806AB5</cusip>
        <identifiers>
          <isin value="US422806AB58"/>
          <ticker value="HEI"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>152453.89</valUSD>
        <pctVal>0.0050613783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ANHEUSER-BUSCH INBE 4.50%</name>
        <lei>549300CRGMZK3K53BF92</lei>
        <title>ANHEUSER-BUSCH INBE 4.50%</title>
        <cusip>035240AT7</cusip>
        <identifiers>
          <isin value="US035240AT78"/>
          <ticker value="ABIBB"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179924.45</valUSD>
        <pctVal>0.0059733845</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CIGNA GROUP/THE 4.80%</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>CIGNA GROUP/THE 4.80%</title>
        <cusip>125523CF5</cusip>
        <identifiers>
          <isin value="US125523CF53"/>
          <ticker value="CI"/>
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        <balance>880000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>773923.22</valUSD>
        <pctVal>0.0256937896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 7.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 7.00%</title>
        <cusip>3132DWJ79</cusip>
        <identifiers>
          <isin value="US3132DWJ796"/>
          <ticker value="FHLMC"/>
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        <balance>143886.58</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>151949.53</valUSD>
        <pctVal>0.0050446338</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000</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>
        <name>INTERNATIONAL BANK 3.875%</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>INTERNATIONAL BANK 3.875%</title>
        <cusip>459058LL5</cusip>
        <identifiers>
          <isin value="US459058LL50"/>
          <ticker value="IBRD"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>482550.77</valUSD>
        <pctVal>0.0160203979</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PROVINCE OF ONTARI 1.125%</name>
        <lei>C7PVKCRGLG18EBQGZV36</lei>
        <title>PROVINCE OF ONTARI 1.125%</title>
        <cusip>683234AR9</cusip>
        <identifiers>
          <isin value="US683234AR91"/>
          <ticker value="ONT"/>
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        <balance>426000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>373745.33</valUSD>
        <pctVal>0.0124081222</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-07</maturityDt>
          <couponKind>Fixed</couponKind>
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          <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>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140X8KM8</cusip>
        <identifiers>
          <isin value="US3140X8KM85"/>
          <ticker value="FNMA"/>
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        <balance>616549.36</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500177.56</valUSD>
        <pctVal>0.0166055968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KREDITANSTALT FUER 3.75%</name>
        <lei>549300GDPG70E3MBBU98</lei>
        <title>KREDITANSTALT FUER 3.75%</title>
        <cusip>500769KK9</cusip>
        <identifiers>
          <isin value="US500769KK95"/>
          <ticker value="KFW"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>983218.3</valUSD>
        <pctVal>0.0326422615</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MAREX GRP. PLC 5.829%</name>
        <lei>549300DWX0SVICJAL507</lei>
        <title>MAREX GRP. PLC 5.829%</title>
        <cusip>566539AB8</cusip>
        <identifiers>
          <isin value="US566539AB80"/>
          <ticker value="MARGRO"/>
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        <balance>810000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>815607.62</valUSD>
        <pctVal>0.0270776868</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.829000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 2.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.00%</title>
        <cusip>36179V5Z9</cusip>
        <identifiers>
          <isin value="US36179V5Z92"/>
          <ticker value="GNR"/>
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        <balance>227579.15</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>211034.25</valUSD>
        <pctVal>0.0070062113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHARTER COMMS. OPER 3.90%</name>
        <lei>N/A</lei>
        <title>CHARTER COMMS. OPER 3.90%</title>
        <cusip>161175CA0</cusip>
        <identifiers>
          <isin value="US161175CA05"/>
          <ticker value="CHTR"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>509971.79</valUSD>
        <pctVal>0.0169307594</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="66634.330000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>SUNCOR ENERGY INC 3.75%</name>
        <lei>894500XO86FKXQGPYV71</lei>
        <title>SUNCOR ENERGY INC 3.75%</title>
        <cusip>867224AE7</cusip>
        <identifiers>
          <isin value="US867224AE71"/>
          <ticker value="SUCN"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>72406.01</valUSD>
        <pctVal>0.0024038364</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-03-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEWMARKET CORP 2.70%</name>
        <lei>54930082CG88ERDREQ47</lei>
        <title>NEWMARKET CORP 2.70%</title>
        <cusip>651587AG2</cusip>
        <identifiers>
          <isin value="US651587AG29"/>
          <ticker value="NEU"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>90694.69</valUSD>
        <pctVal>0.0030110096</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LXP INDUSTRIAL TRU 2.375%</name>
        <lei>549300S4MH2ICXDBFV43</lei>
        <title>LXP INDUSTRIAL TRU 2.375%</title>
        <cusip>529537AA0</cusip>
        <identifiers>
          <isin value="US529537AA08"/>
          <ticker value="LXP"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>87477.76</valUSD>
        <pctVal>0.0029042095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EVEREST REIS. HLDG 3.125%</name>
        <lei>254900P29PM5UJR3VU91</lei>
        <title>EVEREST REIS. HLDG 3.125%</title>
        <cusip>299808AJ4</cusip>
        <identifiers>
          <isin value="US299808AJ43"/>
          <ticker value="RE"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>124529.53</valUSD>
        <pctVal>0.0041343062</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE MULTIFAMIL VAR</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE MULTIFAMIL VAR</title>
        <cusip>3136BMXZ6</cusip>
        <identifiers>
          <isin value="US3136BMXZ61"/>
          <ticker value="FNMA"/>
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        <balance>239103.01</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210068.28</valUSD>
        <pctVal>0.0069741417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.991000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>XCEL ENERGY INC 4.60%</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>XCEL ENERGY INC 4.60%</title>
        <cusip>98388MAD9</cusip>
        <identifiers>
          <isin value="US98388MAD92"/>
          <ticker value="XEL"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>982046.37</valUSD>
        <pctVal>0.0326033541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PG&amp;E WILDFIRE REC. 4.451%</name>
        <lei>N/A</lei>
        <title>PG&amp;E WILDFIRE REC. 4.451%</title>
        <cusip>693342AD9</cusip>
        <identifiers>
          <isin value="US693342AD95"/>
          <ticker value="PCG"/>
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        <balance>135000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117300.65</valUSD>
        <pctVal>0.0038943117</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.451000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137H9JG5</cusip>
        <identifiers>
          <isin value="US3137H9JG50"/>
          <ticker value="FHMS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>478939.95</valUSD>
        <pctVal>0.0159005208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TARGA RES. CORP 6.50%</name>
        <lei>5493003QENHHS261UR94</lei>
        <title>TARGA RES. CORP 6.50%</title>
        <cusip>87612GAD3</cusip>
        <identifiers>
          <isin value="US87612GAD34"/>
          <ticker value="TRGP"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>209311</valUSD>
        <pctVal>0.0069490004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MEXICO GOV. INTL. B 6.35%</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEXICO GOV. INTL. B 6.35%</title>
        <cusip>91087BAV2</cusip>
        <identifiers>
          <isin value="US91087BAV27"/>
          <ticker value="MEX"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510750</valUSD>
        <pctVal>0.0169565955</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TRUIST FINL. CORP F2F</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>TRUIST FINL. CORP F2F</title>
        <cusip>89788MAL6</cusip>
        <identifiers>
          <isin value="US89788MAL63"/>
          <ticker value="TFC"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1004267.96</valUSD>
        <pctVal>0.0333410976</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.873000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KEYBANK NA/CLEVELAN 5.00%</name>
        <lei>HUX2X73FUCYHUVH1BK78</lei>
        <title>KEYBANK NA/CLEVELAN 5.00%</title>
        <cusip>49327M3H5</cusip>
        <identifiers>
          <isin value="US49327M3H53"/>
          <ticker value="KEY"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>494856.52</valUSD>
        <pctVal>0.0164289415</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOYOTA MOTOR CREDIT 4.70%</name>
        <lei>Z2VZBHUMB7PWWJ63I008</lei>
        <title>TOYOTA MOTOR CREDIT 4.70%</title>
        <cusip>89236TKR5</cusip>
        <identifiers>
          <isin value="US89236TKR58"/>
          <ticker value="TOYOTA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>497479.54</valUSD>
        <pctVal>0.0165160242</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
        <cusip>3132DPQT8</cusip>
        <identifiers>
          <isin value="US3132DPQT83"/>
          <ticker value="FHLMC"/>
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        <balance>468493.76</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>465248.71</valUSD>
        <pctVal>0.0154459798</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>31418DFF4</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AIR LEASE CORP 3.25%</name>
        <lei>5493004NW4M4P8TMMK63</lei>
        <title>AIR LEASE CORP 3.25%</title>
        <cusip>00914AAE2</cusip>
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          <ticker value="SUMIAL"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES VAR</title>
        <cusip>3136BQCX5</cusip>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CONCENTRIX CORP 6.85%</name>
        <lei>5493000EAJN1KMPVA737</lei>
        <title>CONCENTRIX CORP 6.85%</title>
        <cusip>20602DAC5</cusip>
        <identifiers>
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          <ticker value="CNXC"/>
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        <curCd>USD</curCd>
        <valUSD>174280.03</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>Fixed</couponKind>
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      <invstOrSec>
        <name>HCA INC 5.00%</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA INC 5.00%</title>
        <cusip>404119CY3</cusip>
        <identifiers>
          <isin value="US404119CY34"/>
          <ticker value="HCA"/>
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        <balance>450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>452498.68</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HCA INC 5.25%</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA INC 5.25%</title>
        <cusip>404119CZ0</cusip>
        <identifiers>
          <isin value="US404119CZ09"/>
          <ticker value="HCA"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>304165.87</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
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      <invstOrSec>
        <name>EUROPEAN BANK FOR 4.375%</name>
        <lei>549300HTGDOVDU6OGK19</lei>
        <title>EUROPEAN BANK FOR 4.375%</title>
        <cusip>29874QEX8</cusip>
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          <isin value="US29874QEX88"/>
          <ticker value="EBRD"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1003022.35</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-09</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>S&amp;P GLOBAL INC 2.90%</name>
        <lei>Y6X4K52KMJMZE7I7MY94</lei>
        <title>S&amp;P GLOBAL INC 2.90%</title>
        <cusip>78409VBK9</cusip>
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          <isin value="US78409VBK98"/>
          <ticker value="SPGI"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>271999.27</valUSD>
        <pctVal>0.0090302136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.900000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CISCO SYS. INC 5.10%</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>CISCO SYS. INC 5.10%</title>
        <cusip>17275RBZ4</cusip>
        <identifiers>
          <isin value="US17275RBZ47"/>
          <ticker value="CSCO"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>505093.68</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-24</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHEVRON USA INC 4.687%</name>
        <lei>VA8TZDWPEZYU430RZ444</lei>
        <title>CHEVRON USA INC 4.687%</title>
        <cusip>166756BD7</cusip>
        <identifiers>
          <isin value="US166756BD74"/>
          <ticker value="CVX"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503482.43</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHARLES SCHWAB CORP/T F2F</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>CHARLES SCHWAB CORP/T F2F</title>
        <cusip>808513CH6</cusip>
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          <isin value="US808513CH62"/>
          <ticker value="SCHW"/>
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        <curCd>USD</curCd>
        <valUSD>318732.11</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.136000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AUTOZONE INC 6.55%</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
        <title>AUTOZONE INC 6.55%</title>
        <cusip>053332BH4</cusip>
        <identifiers>
          <isin value="US053332BH40"/>
          <ticker value="AZO"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>325338.65</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>IDAHO POWER CO 5.50%</name>
        <lei>TN0LL73P2C8X3W6KM391</lei>
        <title>IDAHO POWER CO 5.50%</title>
        <cusip>45138LBH5</cusip>
        <identifiers>
          <isin value="US45138LBH50"/>
          <ticker value="IDA"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>96765.14</valUSD>
        <pctVal>0.0032125450</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>UNITEDHEALTH GRP. I 4.25%</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GRP. I 4.25%</title>
        <cusip>91324PEU2</cusip>
        <identifiers>
          <isin value="US91324PEU21"/>
          <ticker value="UNH"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>497485.59</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERICAN EXPRESS CO F2F</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>AMERICAN EXPRESS CO F2F</title>
        <cusip>025816DK2</cusip>
        <identifiers>
          <isin value="US025816DK20"/>
          <ticker value="AXP"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>306988.98</valUSD>
        <pctVal>0.0101918511</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VERIZON COMMS. INC 5.50%</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMS. INC 5.50%</title>
        <cusip>92343VGW8</cusip>
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          <isin value="US92343VGW81"/>
          <ticker value="VZ"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>188702.46</valUSD>
        <pctVal>0.0062648092</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-02-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <loanByFundCondition isLoanByFund="Y" loanVal="170462.980000000000"/>
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      <invstOrSec>
        <name>LOWE S COS INC 5.85%</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>LOWE S COS INC 5.85%</title>
        <cusip>548661ES2</cusip>
        <identifiers>
          <isin value="US548661ES28"/>
          <ticker value="LOW"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>294679.7</valUSD>
        <pctVal>0.0097831904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>3140XLVJ4</cusip>
        <identifiers>
          <isin value="US3140XLVJ47"/>
          <ticker value="FNMA"/>
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        <balance>345581.13</balance>
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        <curCd>USD</curCd>
        <valUSD>349078.31</valUSD>
        <pctVal>0.0115891918</pctVal>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WASHINGTON GAS LIGH 3.65%</name>
        <lei>DL22T1SB4DUBS063O841</lei>
        <title>WASHINGTON GAS LIGH 3.65%</title>
        <cusip>93884PDY3</cusip>
        <identifiers>
          <isin value="US93884PDY34"/>
          <ticker value="WGL"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>71934.86</valUSD>
        <pctVal>0.0023881945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>QUALCOMM INC 3.25%</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM INC 3.25%</title>
        <cusip>747525BJ1</cusip>
        <identifiers>
          <isin value="US747525BJ18"/>
          <ticker value="QCOM"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>135173.5</valUSD>
        <pctVal>0.0044876796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3140XLTG3</cusip>
        <identifiers>
          <isin value="US3140XLTG36"/>
          <ticker value="FNMA"/>
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        <balance>5270069.59</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4598484.86</valUSD>
        <pctVal>0.1526669562</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CROWN CASTLE INC 5.80%</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>CROWN CASTLE INC 5.80%</title>
        <cusip>22822VBE0</cusip>
        <identifiers>
          <isin value="US22822VBE02"/>
          <ticker value="CCI"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>308242.03</valUSD>
        <pctVal>0.0102334517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140XMTC0</cusip>
        <identifiers>
          <isin value="US3140XMTC05"/>
          <ticker value="FNMA"/>
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        <balance>2101661.22</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1915100.22</valUSD>
        <pctVal>0.0635801857</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE-ACES 2.98%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES 2.98%</title>
        <cusip>3136AX3J2</cusip>
        <identifiers>
          <isin value="US3136AX3J29"/>
          <ticker value="FNMA"/>
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        <balance>265993.98</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>255389.68</valUSD>
        <pctVal>0.0084787851</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.980000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3140K0GS1</cusip>
        <identifiers>
          <isin value="US3140K0GS15"/>
          <ticker value="FNMA"/>
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        <balance>301413.28</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>266559.27</valUSD>
        <pctVal>0.0088496089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AFLAC INC 3.60%</name>
        <lei>549300N0B7DOGLXWPP39</lei>
        <title>AFLAC INC 3.60%</title>
        <cusip>001055BJ0</cusip>
        <identifiers>
          <isin value="US001055BJ00"/>
          <ticker value="AFL"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>482377.29</valUSD>
        <pctVal>0.0160146385</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORACLE CORP 3.60%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 3.60%</title>
        <cusip>68389XBW4</cusip>
        <identifiers>
          <isin value="US68389XBW48"/>
          <ticker value="ORCL"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>109375.12</valUSD>
        <pctVal>0.0036311888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GENERAL MILLS INC 2.875%</name>
        <lei>2TGYMUGI08PO8X8L6150</lei>
        <title>GENERAL MILLS INC 2.875%</title>
        <cusip>370334CL6</cusip>
        <identifiers>
          <isin value="US370334CL64"/>
          <ticker value="GIS"/>
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        <balance>218000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204179.23</valUSD>
        <pctVal>0.0067786287</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VISA INC 2.05%</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>VISA INC 2.05%</title>
        <cusip>92826CAM4</cusip>
        <identifiers>
          <isin value="US92826CAM47"/>
          <ticker value="V"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>367728.18</valUSD>
        <pctVal>0.0122083564</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BROOKFIELD FIN. INC 4.35%</name>
        <lei>549300XH8D8K6OYWGD17</lei>
        <title>BROOKFIELD FIN. INC 4.35%</title>
        <cusip>11271LAE2</cusip>
        <identifiers>
          <isin value="US11271LAE20"/>
          <ticker value="BNCN"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>491271.25</valUSD>
        <pctVal>0.0163099127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN WATER CAP. 3.45%</name>
        <lei>5IDHQUFVC8Q2KIBBFF06</lei>
        <title>AMERICAN WATER CAP. 3.45%</title>
        <cusip>03040WAX3</cusip>
        <identifiers>
          <isin value="US03040WAX39"/>
          <ticker value="AWK"/>
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        <balance>12000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8441.2</valUSD>
        <pctVal>0.0002802428</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418DN81</cusip>
        <identifiers>
          <isin value="US31418DN814"/>
          <ticker value="FNMA"/>
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        <balance>198692.42</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189136.75</valUSD>
        <pctVal>0.0062792274</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>31334X5M7</cusip>
        <identifiers>
          <isin value="US31334X5M73"/>
          <ticker value="FHLB"/>
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        <balance>854868.7</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>784450.58</valUSD>
        <pctVal>0.0260432916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>SABINE PASS LIQUEFA 4.50%</name>
        <lei>549300KJYBG7C6WJYZ11</lei>
        <title>SABINE PASS LIQUEFA 4.50%</title>
        <cusip>785592AX4</cusip>
        <identifiers>
          <isin value="US785592AX43"/>
          <ticker value="SPLLLC"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297098.59</valUSD>
        <pctVal>0.0098634961</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140XAW24</cusip>
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          <ticker value="FNMA"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ANALOG DEVICES INC 2.80%</name>
        <lei>GYVOE5EZ4GDAVTU4CQ61</lei>
        <title>ANALOG DEVICES INC 2.80%</title>
        <cusip>032654AW5</cusip>
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          <ticker value="ADI"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
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        <cusip>46647PDC7</cusip>
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        <curCd>USD</curCd>
        <valUSD>295387.38</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BIOGEN INC 3.25%</name>
        <lei>W8J5WZB5IY3K0NDQT671</lei>
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          <ticker value="BIIB"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>APPLE INC 3.25%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC 3.25%</title>
        <cusip>037833EN6</cusip>
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          <ticker value="AAPL"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>LOCKHEED MARTIN COR 5.25%</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>LOCKHEED MARTIN COR 5.25%</title>
        <cusip>539830BW8</cusip>
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          <ticker value="LMT"/>
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        <curCd>USD</curCd>
        <valUSD>1239926.76</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>STATE STREET CORP F2F</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>STATE STREET CORP F2F</title>
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          <ticker value="STT"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297670.66</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-01-26</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ORACLE CORP 4.90%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 4.90%</title>
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          <ticker value="ORCL"/>
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        <curCd>USD</curCd>
        <valUSD>284437.09</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-06</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>3140LXGS8</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>650433.36</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HSBC HLDGS. PLC F2F</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HLDGS. PLC F2F</title>
        <cusip>404280DW6</cusip>
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          <isin value="US404280DW61"/>
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        <curCd>USD</curCd>
        <valUSD>535194.65</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COLGATE-PALMOLIVE C 4.60%</name>
        <lei>YMEGZFW4SBUSS5BQXF88</lei>
        <title>COLGATE-PALMOLIVE C 4.60%</title>
        <cusip>194162AS2</cusip>
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          <isin value="US194162AS29"/>
          <ticker value="CL"/>
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        <curCd>USD</curCd>
        <valUSD>201547.06</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>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>EVERSOURCE ENERGY 5.45%</name>
        <lei>SJ7XXD41SQU3ZNWUJ746</lei>
        <title>EVERSOURCE ENERGY 5.45%</title>
        <cusip>30040WAT5</cusip>
        <identifiers>
          <isin value="US30040WAT53"/>
          <ticker value="ES"/>
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        <balance>390000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>394394.32</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>NUTRIEN LTD 5.80%</name>
        <lei>5493002QQ7GD21OWF963</lei>
        <title>NUTRIEN LTD 5.80%</title>
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          <ticker value="NTRCN"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198571.18</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>UNITEDHEALTH GRP. I 5.05%</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GRP. I 5.05%</title>
        <cusip>91324PEW8</cusip>
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          <ticker value="UNH"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>269657.92</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.50%</title>
        <cusip>3132E0K27</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>213145.34</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>AGCO CORP 5.80%</name>
        <lei>LYOM0B2GCF1JWXK5ZG04</lei>
        <title>AGCO CORP 5.80%</title>
        <cusip>001084AS1</cusip>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102000.17</valUSD>
        <pctVal>0.0033863448</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140JVDS8</cusip>
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          <isin value="US3140JVDS85"/>
          <ticker value="FNMA"/>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140QCKE5</cusip>
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      <invstOrSec>
        <name>PUBLIC SERV. ENT. G 5.20%</name>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>CANADA GOV. INTL. B 4.00%</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
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        <cusip>43358BAB9</cusip>
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        <curCd>USD</curCd>
        <valUSD>466762.17</valUSD>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 2.903%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137FMTY8</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>287303.76</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>507780.21</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HCA INC 6.10%</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
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        <curCd>USD</curCd>
        <valUSD>198725.93</valUSD>
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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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          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>CISCO SYS. INC 5.35%</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>CISCO SYS. INC 5.35%</title>
        <cusip>17275RBV3</cusip>
        <identifiers>
          <isin value="US17275RBV33"/>
          <ticker value="CSCO"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>467545.37</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2064-02-26</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>COMCAST CORP 3.75%</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP 3.75%</title>
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        <identifiers>
          <isin value="US20030NDH17"/>
          <ticker value="CMCSA"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>799275.44</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIGROUP INC F2F</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC F2F</title>
        <cusip>172967MP3</cusip>
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          <ticker value="C"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>492814.12</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>Fixed</couponKind>
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      <invstOrSec>
        <name>PFIZER INC 2.625%</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>PFIZER INC 2.625%</title>
        <cusip>717081EW9</cusip>
        <identifiers>
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          <ticker value="PFE"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>467244.11</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CVS HEALTH CORP 3.75%</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 3.75%</title>
        <cusip>126650DJ6</cusip>
        <identifiers>
          <isin value="US126650DJ69"/>
          <ticker value="CVS"/>
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        <balance>386000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>373228.33</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>3133A25C0</cusip>
        <identifiers>
          <isin value="US3133A25C01"/>
          <ticker value="FHLMC"/>
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        <balance>1248421.88</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1109983.38</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133KJ5Y4</cusip>
        <identifiers>
          <isin value="US3133KJ5Y49"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>664939.77</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NVIDIA CORP 3.50%</name>
        <lei>549300S4KLFTLO7GSQ80</lei>
        <title>NVIDIA CORP 3.50%</title>
        <cusip>67066GAH7</cusip>
        <identifiers>
          <isin value="US67066GAH74"/>
          <ticker value="NVDA"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>293075.94</valUSD>
        <pctVal>0.0097299465</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PBM7</cusip>
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          <ticker value="JPM"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77133.07</valUSD>
        <pctVal>0.0025607719</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.109000000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133A9RU1</cusip>
        <identifiers>
          <isin value="US3133A9RU15"/>
          <ticker value="FR"/>
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        <balance>590461.89</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>476903.97</valUSD>
        <pctVal>0.0158329275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140X8UM7</cusip>
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        <name>HUBBELL INC 2.30%</name>
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        <name>FANNIE MAE POOL 2.00%</name>
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        <name>FANNIE MAE POOL 2.00%</name>
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        <name>ENTERGY LOUISIANA L 3.10%</name>
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        <name>FREDDIE MAC POOL 1.50%</name>
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        <name>FREDDIE MAC POOL 2.00%</name>
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        <name>FANNIE MAE POOL 2.00%</name>
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        <name>VICI PROPS. LP 5.625%</name>
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        <name>INTERCONTINENTAL EX 5.20%</name>
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        <name>GINNIE MAE II POOL 5.00%</name>
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        <name>FREDDIE MAC MULTIFAMI VAR</name>
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        <name>ORACLE CORP 4.50%</name>
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        <name>PRINCIPAL FINL. GRP 5.50%</name>
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        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137H9UD9</cusip>
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          <ticker value="FHMS"/>
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        <name>FORD MOTOR CREDIT 7.122%</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>FORD MOTOR CREDIT 7.122%</title>
        <cusip>345397D67</cusip>
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        <valUSD>1914723.61</valUSD>
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        <debtSec>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 6.00%</title>
        <cusip>3132E0WX6</cusip>
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          <isin value="US3132E0WX67"/>
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        <valUSD>519593.83</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>NEXTERA ENERGY CAP. 5.05%</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
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        <cusip>65339KDJ6</cusip>
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          <ticker value="NEE"/>
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        <curCd>USD</curCd>
        <valUSD>253211.04</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>123769.85</valUSD>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 3.00%</title>
        <cusip>3128P8A35</cusip>
        <identifiers>
          <isin value="US3128P8A352"/>
          <ticker value="FHLMC"/>
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        <balance>55080.15</balance>
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        <curCd>USD</curCd>
        <valUSD>52007.67</valUSD>
        <pctVal>0.0017266236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>VENTAS REALTY LP 4.75%</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
        <title>VENTAS REALTY LP 4.75%</title>
        <cusip>92277GAV9</cusip>
        <identifiers>
          <isin value="US92277GAV95"/>
          <ticker value="VTR"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>298682.74</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>3M CO 3.70%</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
        <title>3M CO 3.70%</title>
        <cusip>88579YBP5</cusip>
        <identifiers>
          <isin value="US88579YBP51"/>
          <ticker value="MMM"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>148682.49</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.700000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MCDONALD S CORP 4.20%</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>MCDONALD S CORP 4.20%</title>
        <cusip>58013MFR0</cusip>
        <identifiers>
          <isin value="US58013MFR07"/>
          <ticker value="MCD"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>240250.06</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2F</title>
        <cusip>6174468P7</cusip>
        <identifiers>
          <isin value="US6174468P76"/>
          <ticker value="MS"/>
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        <balance>3050000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2920890.85</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.622000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONSOLIDATED EDISON 3.95%</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>CONSOLIDATED EDISON 3.95%</title>
        <cusip>209111FY4</cusip>
        <identifiers>
          <isin value="US209111FY40"/>
          <ticker value="ED"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>155711.78</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.950000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BRISTOL-MYERS SQUIB 4.35%</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>BRISTOL-MYERS SQUIB 4.35%</title>
        <cusip>110122DK1</cusip>
        <identifiers>
          <isin value="US110122DK11"/>
          <ticker value="BMY"/>
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        <balance>1083000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>901159.86</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 1.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 1.50%</title>
        <cusip>3132D56C1</cusip>
        <identifiers>
          <isin value="US3132D56C19"/>
          <ticker value="FHLMC"/>
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        <balance>184517.65</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>165609.61</valUSD>
        <pctVal>0.0054981403</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
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      <invstOrSec>
        <name>FANNIE MAE POOL 1.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 1.50%</title>
        <cusip>31418DWQ1</cusip>
        <identifiers>
          <isin value="US31418DWQ14"/>
          <ticker value="FNMA"/>
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        <balance>453391.41</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>347245.57</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
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      <invstOrSec>
        <name>SUN COMMUNITIES OPE 2.30%</name>
        <lei>549300PUNBPJCGT6X741</lei>
        <title>SUN COMMUNITIES OPE 2.30%</title>
        <cusip>866677AF4</cusip>
        <identifiers>
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          <ticker value="SUI"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>284435.78</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>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.300000000000</annualizedRt>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>31418ED80</cusip>
        <identifiers>
          <isin value="US31418ED805"/>
          <ticker value="FNMA"/>
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        <balance>3690451.05</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3464093.88</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERICAN EXPRESS CO 4.05%</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>AMERICAN EXPRESS CO 4.05%</title>
        <cusip>025816CW7</cusip>
        <identifiers>
          <isin value="US025816CW76"/>
          <ticker value="AXP"/>
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        <balance>72000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>71317.28</valUSD>
        <pctVal>0.0023676912</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONSTELLATION BRAND 4.75%</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>CONSTELLATION BRAND 4.75%</title>
        <cusip>21036PBL1</cusip>
        <identifiers>
          <isin value="US21036PBL13"/>
          <ticker value="STZ"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>395706.24</valUSD>
        <pctVal>0.0131372113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</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>NEVADA POWER CO 5.90%</name>
        <lei>MJZFGXRJ52U8U4MKJ519</lei>
        <title>NEVADA POWER CO 5.90%</title>
        <cusip>641423CF3</cusip>
        <identifiers>
          <isin value="US641423CF35"/>
          <ticker value="BRKHEC"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>400518.72</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.900000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>METLIFE INC 5.25%</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>METLIFE INC 5.25%</title>
        <cusip>59156RCD8</cusip>
        <identifiers>
          <isin value="US59156RCD89"/>
          <ticker value="MET"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>373761.51</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="383503.120000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN INTL. GRP 4.375%</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>AMERICAN INTL. GRP 4.375%</title>
        <cusip>026874DP9</cusip>
        <identifiers>
          <isin value="US026874DP97"/>
          <ticker value="AIG"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248402.28</valUSD>
        <pctVal>0.0082468076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MPLX LP 5.20%</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP 5.20%</title>
        <cusip>55336VBP4</cusip>
        <identifiers>
          <isin value="US55336VBP40"/>
          <ticker value="MPLX"/>
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        <balance>407000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>364556.09</valUSD>
        <pctVal>0.0121030449</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SANTANDER UK GRP. HLD F2F</name>
        <lei>549300F5XIFGNNW4CF72</lei>
        <title>SANTANDER UK GRP. HLD F2F</title>
        <cusip>80281LAT2</cusip>
        <identifiers>
          <isin value="US80281LAT26"/>
          <ticker value="SANUK"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>718489.28</valUSD>
        <pctVal>0.0238534158</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.534000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GENERAL MOTORS FINL 6.00%</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>GENERAL MOTORS FINL 6.00%</title>
        <cusip>37045XEB8</cusip>
        <identifiers>
          <isin value="US37045XEB82"/>
          <ticker value="GM"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>509348.49</valUSD>
        <pctVal>0.0169100662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>US BANCORP F2F</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP F2F</title>
        <cusip>91159HJL5</cusip>
        <identifiers>
          <isin value="US91159HJL50"/>
          <ticker value="USB"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>493358.9</valUSD>
        <pctVal>0.0163792214</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.839000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TRIMBLE INC 6.10%</name>
        <lei>549300E2MI7NSZFQWS19</lei>
        <title>TRIMBLE INC 6.10%</title>
        <cusip>896239AE0</cusip>
        <identifiers>
          <isin value="US896239AE08"/>
          <ticker value="TRMB"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>208823.77</valUSD>
        <pctVal>0.0069328247</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ABBVIE INC 5.05%</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBVIE INC 5.05%</title>
        <cusip>00287YDU0</cusip>
        <identifiers>
          <isin value="US00287YDU01"/>
          <ticker value="ABBV"/>
        </identifiers>
        <balance>900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>909708.4</valUSD>
        <pctVal>0.0302017766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NATWEST GRP. PLC F2V</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>NATWEST GRP. PLC F2V</title>
        <cusip>639057AN8</cusip>
        <identifiers>
          <isin value="US639057AN83"/>
          <ticker value="NWG"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>311094.68</valUSD>
        <pctVal>0.0103281579</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.778000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ELI LILLY &amp; CO 4.95%</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>ELI LILLY &amp; CO 4.95%</title>
        <cusip>532457CH9</cusip>
        <identifiers>
          <isin value="US532457CH90"/>
          <ticker value="LLY"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89148.97</valUSD>
        <pctVal>0.0029596927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2063-02-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MAGNA INTL. INC 5.50%</name>
        <lei>95RWVLFZX6VGDZNNTN43</lei>
        <title>MAGNA INTL. INC 5.50%</title>
        <cusip>559222AY0</cusip>
        <identifiers>
          <isin value="US559222AY07"/>
          <ticker value="MGCN"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204794.13</valUSD>
        <pctVal>0.0067990430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. IN F2F</title>
        <cusip>38141GA53</cusip>
        <identifiers>
          <isin value="US38141GA534"/>
          <ticker value="GS"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>432745.34</valUSD>
        <pctVal>0.0143668873</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.561000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC SERVS. INC 5.00%</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>REPUBLIC SERVS. INC 5.00%</title>
        <cusip>760759BH2</cusip>
        <identifiers>
          <isin value="US760759BH28"/>
          <ticker value="RSG"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>303304.84</valUSD>
        <pctVal>0.0100695399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>3140XNFB5</cusip>
        <identifiers>
          <isin value="US3140XNFB50"/>
          <ticker value="FNMA"/>
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        <balance>350581.47</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>362463.54</valUSD>
        <pctVal>0.0120335735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CNH INDL. CAP. LLC 5.10%</name>
        <lei>549300PNSJ5B81UMVO28</lei>
        <title>CNH INDL. CAP. LLC 5.10%</title>
        <cusip>12592BAS3</cusip>
        <identifiers>
          <isin value="US12592BAS34"/>
          <ticker value="CNHI"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>302924.54</valUSD>
        <pctVal>0.0100569142</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3138E2LG8</cusip>
        <identifiers>
          <isin value="US3138E2LG82"/>
          <ticker value="FNMA"/>
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        <balance>393614.41</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>368092.83</valUSD>
        <pctVal>0.0122204625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138M96K2</cusip>
        <identifiers>
          <isin value="US3138M96K22"/>
          <ticker value="FNMA"/>
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        <balance>220769.96</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199960.1</valUSD>
        <pctVal>0.0066385561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC 3.85%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 3.85%</title>
        <cusip>00206RKB7</cusip>
        <identifiers>
          <isin value="US00206RKB77"/>
          <ticker value="T"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>534227.78</valUSD>
        <pctVal>0.0177360438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JABIL INC 3.00%</name>
        <lei>5493000CGCQY2OQU7669</lei>
        <title>JABIL INC 3.00%</title>
        <cusip>466313AK9</cusip>
        <identifiers>
          <isin value="US466313AK92"/>
          <ticker value="JBL"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>275795.98</valUSD>
        <pctVal>0.0091562621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137FJXV6</cusip>
        <identifiers>
          <isin value="US3137FJXV65"/>
          <ticker value="FHLMC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198058.62</valUSD>
        <pctVal>0.0065754281</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDEX CORP 4.25%</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FEDEX CORP 4.25%</title>
        <cusip>31428XBZ8</cusip>
        <identifiers>
          <isin value="US31428XBZ87"/>
          <ticker value="FDX"/>
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        <balance>95000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93926.83</valUSD>
        <pctVal>0.0031183148</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="36787.320000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>EXELON CORP 4.70%</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>EXELON CORP 4.70%</title>
        <cusip>30161NAY7</cusip>
        <identifiers>
          <isin value="US30161NAY76"/>
          <ticker value="EXC"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>84058.94</valUSD>
        <pctVal>0.0027907067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NIKE INC 3.25%</name>
        <lei>787RXPR0UX0O0XUXPZ81</lei>
        <title>NIKE INC 3.25%</title>
        <cusip>654106AL7</cusip>
        <identifiers>
          <isin value="US654106AL77"/>
          <ticker value="NKE"/>
        </identifiers>
        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59574.42</valUSD>
        <pctVal>0.0019778352</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-03-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTER-AMERICAN DEV. 3.75%</name>
        <lei>VKU1UKDS9E7LYLMACP54</lei>
        <title>INTER-AMERICAN DEV. 3.75%</title>
        <cusip>4581X0EV6</cusip>
        <identifiers>
          <isin value="US4581X0EV68"/>
          <ticker value="IADB"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>982838.15</valUSD>
        <pctVal>0.0326296407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.25%</title>
        <cusip>91282CNT4</cusip>
        <identifiers>
          <isin value="US91282CNT44"/>
          <ticker value="T"/>
        </identifiers>
        <balance>12000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11847187.44</valUSD>
        <pctVal>0.3933195609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>3M CO 3.05%</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
        <title>3M CO 3.05%</title>
        <cusip>88579YBN0</cusip>
        <identifiers>
          <isin value="US88579YBN04"/>
          <ticker value="MMM"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>945167.23</valUSD>
        <pctVal>0.0313789886</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FOX CORP 5.576%</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>FOX CORP 5.576%</title>
        <cusip>35137LAK1</cusip>
        <identifiers>
          <isin value="US35137LAK17"/>
          <ticker value="FOXA"/>
        </identifiers>
        <balance>490000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>454033.16</valUSD>
        <pctVal>0.0150736303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.576000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="253894.490000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>CONSOLIDATED EDISON 3.35%</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>CONSOLIDATED EDISON 3.35%</title>
        <cusip>209111FX6</cusip>
        <identifiers>
          <isin value="US209111FX66"/>
          <ticker value="ED"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>955579.57</valUSD>
        <pctVal>0.0317246721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3140QBBJ6</cusip>
        <identifiers>
          <isin value="US3140QBBJ67"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>228051.4</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>216173.74</valUSD>
        <pctVal>0.0071768393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3133KJC34</cusip>
        <identifiers>
          <isin value="US3133KJC346"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>364698.59</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>308023.52</valUSD>
        <pctVal>0.0102261973</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANKUNITED INC 5.125%</name>
        <lei>96OVUWEW5D4YX6PFXD91</lei>
        <title>BANKUNITED INC 5.125%</title>
        <cusip>06652KAB9</cusip>
        <identifiers>
          <isin value="US06652KAB98"/>
          <ticker value="BKU"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99287.47</valUSD>
        <pctVal>0.0032962848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137HPF32</cusip>
        <identifiers>
          <isin value="US3137HPF327"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>196035.74</valUSD>
        <pctVal>0.0065082697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.420000000000</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>PUBLIC SERV. ELEC. 5.625%</name>
        <lei>549300RUHPVD434XUK18</lei>
        <title>PUBLIC SERV. ELEC. 5.625%</title>
        <cusip>74456QCY0</cusip>
        <identifiers>
          <isin value="US74456QCY08"/>
          <ticker value="PEG"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98760.22</valUSD>
        <pctVal>0.0032787804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIFA 1.94%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFA 1.94%</title>
        <cusip>3137FTZL4</cusip>
        <identifiers>
          <isin value="US3137FTZL48"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>81007.27</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>US BANCORP 1.375%</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP 1.375%</title>
        <cusip>91159HJA9</cusip>
        <identifiers>
          <isin value="US91159HJA95"/>
          <ticker value="USB"/>
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        <balance>143000</balance>
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        <curCd>USD</curCd>
        <valUSD>125830.95</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC F2F</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC F2F</title>
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          <isin value="US404280CK33"/>
          <ticker value="HSBC"/>
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        <curCd>USD</curCd>
        <valUSD>1176592.3</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3133KKVK2</cusip>
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          <isin value="US3133KKVK23"/>
          <ticker value="FHLMC"/>
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        <balance>6358521.29</balance>
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        <curCd>USD</curCd>
        <valUSD>5428414.6</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ENERGY TRANSFER LP 6.30%</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP 6.30%</title>
        <cusip>29273VBL3</cusip>
        <identifiers>
          <isin value="US29273VBL36"/>
          <ticker value="ET"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501662.25</valUSD>
        <pctVal>0.0166548877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.300000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31418FRM1</cusip>
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          <isin value="US31418FRM13"/>
          <ticker value="FNMA"/>
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        <balance>574120.97</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>580658.08</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GENERAL MOTORS FINL 2.35%</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>GENERAL MOTORS FINL 2.35%</title>
        <cusip>37045XDE3</cusip>
        <identifiers>
          <isin value="US37045XDE31"/>
          <ticker value="GM"/>
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        <balance>33000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>29512.56</valUSD>
        <pctVal>0.0009797994</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-08</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 2.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.00%</title>
        <cusip>36179V7D6</cusip>
        <identifiers>
          <isin value="US36179V7D62"/>
          <ticker value="GNR"/>
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        <balance>2638539.56</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2164886.3</valUSD>
        <pctVal>0.0718729347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>OMEGA HEALTHCARE IN 3.25%</name>
        <lei>549300OJ7ENK42CZ8E73</lei>
        <title>OMEGA HEALTHCARE IN 3.25%</title>
        <cusip>681936BN9</cusip>
        <identifiers>
          <isin value="US681936BN99"/>
          <ticker value="OHI"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>266557.49</valUSD>
        <pctVal>0.0088495498</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>AGILENT TECHS. INC 2.30%</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>AGILENT TECHS. INC 2.30%</title>
        <cusip>00846UAN1</cusip>
        <identifiers>
          <isin value="US00846UAN19"/>
          <ticker value="A"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>269491.61</valUSD>
        <pctVal>0.0089469608</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133GCQT2</cusip>
        <identifiers>
          <isin value="US3133GCQT27"/>
          <ticker value="FHLMC"/>
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        <balance>220225.19</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201302.58</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3132DVLU7</cusip>
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          <isin value="US3132DVLU79"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>259989.48</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WELLS FARGO &amp; CO F2F</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO F2F</title>
        <cusip>95000U2Z5</cusip>
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          <isin value="US95000U2Z51"/>
          <ticker value="WFC"/>
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        <curCd>USD</curCd>
        <valUSD>840344.11</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PG&amp;E WILDFIRE REC. 4.674%</name>
        <lei>N/A</lei>
        <title>PG&amp;E WILDFIRE REC. 4.674%</title>
        <cusip>693342AE7</cusip>
        <identifiers>
          <isin value="US693342AE78"/>
          <ticker value="PCG"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BARCLAYS COMMER. MT 3.71%</name>
        <lei>N/A</lei>
        <title>BARCLAYS COMMER. MT 3.71%</title>
        <cusip>05492JAZ5</cusip>
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          <isin value="US05492JAZ57"/>
          <ticker value="BBCMS"/>
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        <balance>150000</balance>
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        <curCd>USD</curCd>
        <valUSD>138274.08</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
        <cusip>3132DP6B9</cusip>
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          <isin value="US3132DP6B98"/>
          <ticker value="FHLMC"/>
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        <balance>543426.96</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>539662.77</valUSD>
        <pctVal>0.0179164823</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MITSUBISHI UFJ FINANC F2V</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>MITSUBISHI UFJ FINANC F2V</title>
        <cusip>606822CK8</cusip>
        <identifiers>
          <isin value="US606822CK87"/>
          <ticker value="MUFG"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200928.64</valUSD>
        <pctVal>0.0066707111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.133000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31418EMS6</cusip>
        <identifiers>
          <isin value="US31418EMS62"/>
          <ticker value="FNMA"/>
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        <balance>4481373.84</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4439976.25</valUSD>
        <pctVal>0.1474045648</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALTRIA GRP. INC 6.20%</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>ALTRIA GRP. INC 6.20%</title>
        <cusip>02209SBQ5</cusip>
        <identifiers>
          <isin value="US02209SBQ57"/>
          <ticker value="MO"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>517293.91</valUSD>
        <pctVal>0.0171738495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.200000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3140LQHL7</cusip>
        <identifiers>
          <isin value="US3140LQHL73"/>
          <ticker value="FNMA"/>
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        <balance>683901.82</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>607481.39</valUSD>
        <pctVal>0.0201680200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EUROPEAN INV. BANK 3.875%</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>EUROPEAN INV. BANK 3.875%</title>
        <cusip>298785JU1</cusip>
        <identifiers>
          <isin value="US298785JU14"/>
          <ticker value="EIB"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>995158.67</valUSD>
        <pctVal>0.0330386746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ONCOR ELEC. DELIVER 4.60%</name>
        <lei>549300SP2X2BS1KERD24</lei>
        <title>ONCOR ELEC. DELIVER 4.60%</title>
        <cusip>68233JCH5</cusip>
        <identifiers>
          <isin value="US68233JCH59"/>
          <ticker value="ONCRTX"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>252804.5</valUSD>
        <pctVal>0.0083929587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ORACLE CORP 5.55%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 5.55%</title>
        <cusip>68389XCQ6</cusip>
        <identifiers>
          <isin value="US68389XCQ60"/>
          <ticker value="ORCL"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>402755.72</valUSD>
        <pctVal>0.0133712498</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INDIANA MICHIGAN P 5.625%</name>
        <lei>JHR9V15J0ZRG02MIRD06</lei>
        <title>INDIANA MICHIGAN P 5.625%</title>
        <cusip>454889AV8</cusip>
        <identifiers>
          <isin value="US454889AV81"/>
          <ticker value="AEP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>491196.49</valUSD>
        <pctVal>0.0163074307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ARCH CAP. GRP. LTD 3.635%</name>
        <lei>549300AYR4P8AFKDCE43</lei>
        <title>ARCH CAP. GRP. LTD 3.635%</title>
        <cusip>03939AAA5</cusip>
        <identifiers>
          <isin value="US03939AAA51"/>
          <ticker value="ACGL"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145607.97</valUSD>
        <pctVal>0.0048340978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.635000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140KELG1</cusip>
        <identifiers>
          <isin value="US3140KELG12"/>
          <ticker value="FNMA"/>
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        <balance>715977.2</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>577791.65</valUSD>
        <pctVal>0.0191823384</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY F2V</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2V</title>
        <cusip>61748UAP7</cusip>
        <identifiers>
          <isin value="US61748UAP75"/>
          <ticker value="MS"/>
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        <balance>290000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>282628.26</valUSD>
        <pctVal>0.0093830898</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.314000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137HPUE1</cusip>
        <identifiers>
          <isin value="US3137HPUE10"/>
          <ticker value="FHLMC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>195312.5</valUSD>
        <pctVal>0.0064842586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.385000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31418ETS9</cusip>
        <identifiers>
          <isin value="US31418ETS99"/>
          <ticker value="FNMA"/>
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        <balance>58594.72</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57779.35</valUSD>
        <pctVal>0.0019182400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ASSURED GUARANTY U 6.125%</name>
        <lei>5493007YCE0652G9TZ64</lei>
        <title>ASSURED GUARANTY U 6.125%</title>
        <cusip>04621WAF7</cusip>
        <identifiers>
          <isin value="US04621WAF77"/>
          <ticker value="AGO"/>
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        <balance>120000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>123385.66</valUSD>
        <pctVal>0.0040963304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PROLOGIS LP 4.75%</name>
        <lei>GL16H1DHB0QSHP25F723</lei>
        <title>PROLOGIS LP 4.75%</title>
        <cusip>74340XCE9</cusip>
        <identifiers>
          <isin value="US74340XCE94"/>
          <ticker value="PLD"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297273.53</valUSD>
        <pctVal>0.0098693040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>REXFORD INDL. REALT 5.00%</name>
        <lei>549300028US163ELJN70</lei>
        <title>REXFORD INDL. REALT 5.00%</title>
        <cusip>76169XAC8</cusip>
        <identifiers>
          <isin value="US76169XAC83"/>
          <ticker value="REXR"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201021.26</valUSD>
        <pctVal>0.0066737860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EQT CORP 5.75%</name>
        <lei>4NT01YGM4X7ZX86ISY52</lei>
        <title>EQT CORP 5.75%</title>
        <cusip>26884LAR0</cusip>
        <identifiers>
          <isin value="US26884LAR06"/>
          <ticker value="EQT"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204495.37</valUSD>
        <pctVal>0.0067891244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TRUIST FINL. CORP F2F</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>TRUIST FINL. CORP F2F</title>
        <cusip>89788MAS1</cusip>
        <identifiers>
          <isin value="US89788MAS17"/>
          <ticker value="TFC"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>514839.75</valUSD>
        <pctVal>0.0170923728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.711000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC OF POLAND 5.50%</name>
        <lei>259400R9L8QEP0TPXS31</lei>
        <title>REPUBLIC OF POLAND 5.50%</title>
        <cusip>731011AW2</cusip>
        <identifiers>
          <isin value="US731011AW25"/>
          <ticker value="POLAND"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>473187.04</valUSD>
        <pctVal>0.0157095277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-04-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ARES MGT. CORP 6.375%</name>
        <lei>529900JUV61FH7B8VW38</lei>
        <title>ARES MGT. CORP 6.375%</title>
        <cusip>03990BAA9</cusip>
        <identifiers>
          <isin value="US03990BAA98"/>
          <ticker value="ARES"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103458.94</valUSD>
        <pctVal>0.0034347751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.50%</title>
        <cusip>3140XMF27</cusip>
        <identifiers>
          <isin value="US3140XMF275"/>
          <ticker value="FNMA"/>
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        <balance>302386.32</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>318059.33</valUSD>
        <pctVal>0.0105593802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXETER AUTOMOBILE R 5.92%</name>
        <lei>N/A</lei>
        <title>EXETER AUTOMOBILE R 5.92%</title>
        <cusip>30166DAF5</cusip>
        <identifiers>
          <isin value="US30166DAF50"/>
          <ticker value="EART"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50628.42</valUSD>
        <pctVal>0.0016808334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.920000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GATX CORP 6.05%</name>
        <lei>549300IHYHCQP2PIR591</lei>
        <title>GATX CORP 6.05%</title>
        <cusip>361448BR3</cusip>
        <identifiers>
          <isin value="US361448BR38"/>
          <ticker value="GATX"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>151432.14</valUSD>
        <pctVal>0.0050274568</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOYOTA AUTO RECEIVA 4.83%</name>
        <lei>N/A</lei>
        <title>TOYOTA AUTO RECEIVA 4.83%</title>
        <cusip>89237QAE0</cusip>
        <identifiers>
          <isin value="US89237QAE08"/>
          <ticker value="TAOT"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100488.99</valUSD>
        <pctVal>0.0033361746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.830000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>OLD REPUBLIC INTL. 5.75%</name>
        <lei>549300IV6O2YY2A1KH37</lei>
        <title>OLD REPUBLIC INTL. 5.75%</title>
        <cusip>680223AM6</cusip>
        <identifiers>
          <isin value="US680223AM61"/>
          <ticker value="ORI"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>152604.64</valUSD>
        <pctVal>0.0050663831</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</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>NEXTERA ENERGY CAP. 4.85%</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NEXTERA ENERGY CAP. 4.85%</title>
        <cusip>65339KDG2</cusip>
        <identifiers>
          <isin value="US65339KDG22"/>
          <ticker value="NEE"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>251379.63</valUSD>
        <pctVal>0.0083456539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEXTERA ENERGY CAP. 5.90%</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NEXTERA ENERGY CAP. 5.90%</title>
        <cusip>65339KDM9</cusip>
        <identifiers>
          <isin value="US65339KDM99"/>
          <ticker value="NEE"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197976.34</valUSD>
        <pctVal>0.0065726965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.900000000000</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>CONOCOPHILLIPS CO 5.05%</name>
        <lei>6VJJ5GQWIRDQ06DUXG89</lei>
        <title>CONOCOPHILLIPS CO 5.05%</title>
        <cusip>20826FBF2</cusip>
        <identifiers>
          <isin value="US20826FBF27"/>
          <ticker value="COP"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202595.75</valUSD>
        <pctVal>0.0067260581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.050000000000</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>FANNIE MAE POOL 1.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 1.50%</title>
        <cusip>3140XK5Z9</cusip>
        <identifiers>
          <isin value="US3140XK5Z93"/>
          <ticker value="FNMA"/>
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        <balance>423860.7</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>377732.03</valUSD>
        <pctVal>0.0125404782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITEDHEALTH GRP. I 5.15%</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GRP. I 5.15%</title>
        <cusip>91324PFJ6</cusip>
        <identifiers>
          <isin value="US91324PFJ66"/>
          <ticker value="UNH"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>302732.53</valUSD>
        <pctVal>0.0100505395</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>3140XNHK3</cusip>
        <identifiers>
          <isin value="US3140XNHK32"/>
          <ticker value="FNMA"/>
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        <balance>1527558.46</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1589251.95</valUSD>
        <pctVal>0.0527622174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OVINTIV INC 7.10%</name>
        <lei>2549003MEX7YMKLGI239</lei>
        <title>OVINTIV INC 7.10%</title>
        <cusip>69047QAD4</cusip>
        <identifiers>
          <isin value="US69047QAD43"/>
          <ticker value="OVV"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55259.93</valUSD>
        <pctVal>0.0018345967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31418ET67</cusip>
        <identifiers>
          <isin value="US31418ET678"/>
          <ticker value="FNMA"/>
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        <balance>1533996.12</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1545858.83</valUSD>
        <pctVal>0.0513215917</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</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>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>36180AAF0</cusip>
        <identifiers>
          <isin value="US36180AAF03"/>
          <ticker value="GNR"/>
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        <balance>1575548.51</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1587791.72</valUSD>
        <pctVal>0.0527137386</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</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>HEWLETT PACKARD ENT 5.60%</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>HEWLETT PACKARD ENT 5.60%</title>
        <cusip>42824CBW8</cusip>
        <identifiers>
          <isin value="US42824CBW82"/>
          <ticker value="HPE"/>
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        <balance>230000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>213218.23</valUSD>
        <pctVal>0.0070787181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; CO F2F</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO F2F</title>
        <cusip>95000U3H4</cusip>
        <identifiers>
          <isin value="US95000U3H45"/>
          <ticker value="WFC"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>323802.24</valUSD>
        <pctVal>0.0107500413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.491000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PNC FINL. SERVS. GRP. F2F</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC FINL. SERVS. GRP. F2F</title>
        <cusip>693475BU8</cusip>
        <identifiers>
          <isin value="US693475BU84"/>
          <ticker value="PNC"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>441610.65</valUSD>
        <pctVal>0.0146612103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARKEL GRP. INC 3.45%</name>
        <lei>549300SCNO12JLWIK605</lei>
        <title>MARKEL GRP. INC 3.45%</title>
        <cusip>570535AX2</cusip>
        <identifiers>
          <isin value="US570535AX23"/>
          <ticker value="MKL"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>67796.58</valUSD>
        <pctVal>0.0022508060</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SALESFORCE INC 1.50%</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>SALESFORCE INC 1.50%</title>
        <cusip>79466LAH7</cusip>
        <identifiers>
          <isin value="US79466LAH78"/>
          <ticker value="CRM"/>
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        <balance>1300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1223735.94</valUSD>
        <pctVal>0.0406273037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NASDAQ INC 5.95%</name>
        <lei>549300L8X1Q78ERXFD06</lei>
        <title>NASDAQ INC 5.95%</title>
        <cusip>63111XAK7</cusip>
        <identifiers>
          <isin value="US63111XAK72"/>
          <ticker value="NDAQ"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>303622.58</valUSD>
        <pctVal>0.0100800887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NOMURA HLDGS. INC 6.07%</name>
        <lei>549300B3CEAHYG7K8164</lei>
        <title>NOMURA HLDGS. INC 6.07%</title>
        <cusip>65535HBM0</cusip>
        <identifiers>
          <isin value="US65535HBM07"/>
          <ticker value="NOMURA"/>
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        <balance>270000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>277182.33</valUSD>
        <pctVal>0.0092022881</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.070000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.50%</title>
        <cusip>3140XNAR5</cusip>
        <identifiers>
          <isin value="US3140XNAR57"/>
          <ticker value="FNMA"/>
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        <balance>281950.24</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>293970.68</valUSD>
        <pctVal>0.0097596513</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HONDA AUTO RECEIVAB 5.17%</name>
        <lei>N/A</lei>
        <title>HONDA AUTO RECEIVAB 5.17%</title>
        <cusip>437918AD7</cusip>
        <identifiers>
          <isin value="US437918AD75"/>
          <ticker value="HAROT"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50392.03</valUSD>
        <pctVal>0.0016729854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.170000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; CO F2F</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO F2F</title>
        <cusip>95000U3E1</cusip>
        <identifiers>
          <isin value="US95000U3E14"/>
          <ticker value="WFC"/>
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        <balance>390000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>396587.68</valUSD>
        <pctVal>0.0131664746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.574000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JOHN DEERE CAP. COR 4.95%</name>
        <lei>E0KSF7PFQ210NWI8Z391</lei>
        <title>JOHN DEERE CAP. COR 4.95%</title>
        <cusip>24422EXB0</cusip>
        <identifiers>
          <isin value="US24422EXB00"/>
          <ticker value="DE"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1012393.98</valUSD>
        <pctVal>0.0336108766</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSAL HEALTH S 4.625%</name>
        <lei>549300YGMGQDO0NMJD09</lei>
        <title>UNIVERSAL HEALTH S 4.625%</title>
        <cusip>913903BB5</cusip>
        <identifiers>
          <isin value="US913903BB57"/>
          <ticker value="UHS"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>246770.54</valUSD>
        <pctVal>0.0081926348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSAL HEALTH SE 5.05%</name>
        <lei>549300YGMGQDO0NMJD09</lei>
        <title>UNIVERSAL HEALTH SE 5.05%</title>
        <cusip>913903BC3</cusip>
        <identifiers>
          <isin value="US913903BC31"/>
          <ticker value="UHS"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>239496.33</valUSD>
        <pctVal>0.0079511354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROYALTY PHARMA PLC 3.55%</name>
        <lei>549300FGFN7VOK8BZR03</lei>
        <title>ROYALTY PHARMA PLC 3.55%</title>
        <cusip>78081BAM5</cusip>
        <identifiers>
          <isin value="US78081BAM54"/>
          <ticker value="RPRX"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>209584.18</valUSD>
        <pctVal>0.0069580698</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VMWARE LLC 2.20%</name>
        <lei>549300BUDHS3LRWBE814</lei>
        <title>VMWARE LLC 2.20%</title>
        <cusip>928563AL9</cusip>
        <identifiers>
          <isin value="US928563AL97"/>
          <ticker value="VMW"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>264199.86</valUSD>
        <pctVal>0.0087712779</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>36179YU69</cusip>
        <identifiers>
          <isin value="US36179YU693"/>
          <ticker value="GNR"/>
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        <balance>1849058.13</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1866141.49</valUSD>
        <pctVal>0.0619547851</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DIAMONDBACK ENERGY 5.40%</name>
        <lei>549300R22LSX6OHWEN64</lei>
        <title>DIAMONDBACK ENERGY 5.40%</title>
        <cusip>25278XAZ2</cusip>
        <identifiers>
          <isin value="US25278XAZ24"/>
          <ticker value="FANG"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>405733.16</valUSD>
        <pctVal>0.0134700991</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PROVINCE OF BRITISH 4.90%</name>
        <lei>54930058TO7MEKUHWL16</lei>
        <title>PROVINCE OF BRITISH 4.90%</title>
        <cusip>110709AL6</cusip>
        <identifiers>
          <isin value="US110709AL63"/>
          <ticker value="BRCOL"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>508153.7</valUSD>
        <pctVal>0.0168703999</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.50%</title>
        <cusip>3132DSTP7</cusip>
        <identifiers>
          <isin value="US3132DSTP73"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>248992.26</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>252710.12</valUSD>
        <pctVal>0.0083898253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ICON INVS. SIX DAC 5.849%</name>
        <lei>635400FQ1M7J2CHLAS59</lei>
        <title>ICON INVS. SIX DAC 5.849%</title>
        <cusip>45115AAB0</cusip>
        <identifiers>
          <isin value="US45115AAB08"/>
          <ticker value="ICLR"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>255449.49</valUSD>
        <pctVal>0.0084807708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.849000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="123668.570000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>OHIO POWER CO 5.65%</name>
        <lei>06ZODLC132CY1O2Y7D77</lei>
        <title>OHIO POWER CO 5.65%</title>
        <cusip>677415CW9</cusip>
        <identifiers>
          <isin value="US677415CW95"/>
          <ticker value="AEP"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>309755</valUSD>
        <pctVal>0.0102836814</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BURLINGTON NORTHERN 5.50%</name>
        <lei>N/A</lei>
        <title>BURLINGTON NORTHERN 5.50%</title>
        <cusip>12189LBL4</cusip>
        <identifiers>
          <isin value="US12189LBL45"/>
          <ticker value="BNSF"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145656.18</valUSD>
        <pctVal>0.0048356984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MICROSOFT CORP 2.50%</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>MICROSOFT CORP 2.50%</title>
        <cusip>594918CW2</cusip>
        <identifiers>
          <isin value="US594918CW29"/>
          <ticker value="MSFT"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>118069.32</valUSD>
        <pctVal>0.0039198310</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORD CREDIT AUTO OW 4.40%</name>
        <lei>N/A</lei>
        <title>FORD CREDIT AUTO OW 4.40%</title>
        <cusip>34532UAF6</cusip>
        <identifiers>
          <isin value="US34532UAF66"/>
          <ticker value="FORDO"/>
        </identifiers>
        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24893.12</valUSD>
        <pctVal>0.0008264367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PEV4</cusip>
        <identifiers>
          <isin value="US46647PEV40"/>
          <ticker value="JPM"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1516867.56</valUSD>
        <pctVal>0.0503590988</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.140000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FRANKLIN RESOURCES 2.95%</name>
        <lei>RIFQSET379FOGTEFKS80</lei>
        <title>FRANKLIN RESOURCES 2.95%</title>
        <cusip>354613AM3</cusip>
        <identifiers>
          <isin value="US354613AM38"/>
          <ticker value="BEN"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93835.88</valUSD>
        <pctVal>0.0031152953</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-08-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STORE CAP. LLC 2.70%</name>
        <lei>254900Z9PIEFQ6AYXK50</lei>
        <title>STORE CAP. LLC 2.70%</title>
        <cusip>862121AD2</cusip>
        <identifiers>
          <isin value="US862121AD28"/>
          <ticker value="STOR"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>176164.04</valUSD>
        <pctVal>0.0058485411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137HBC51</cusip>
        <identifiers>
          <isin value="US3137HBC514"/>
          <ticker value="FHMS"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>254119.6</valUSD>
        <pctVal>0.0084366192</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.940000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRISTOL-MYERS SQUIB 5.20%</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>BRISTOL-MYERS SQUIB 5.20%</title>
        <cusip>110122EH7</cusip>
        <identifiers>
          <isin value="US110122EH72"/>
          <ticker value="BMY"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>509902.72</valUSD>
        <pctVal>0.0169284664</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENERGY TRANSFER LP 6.05%</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP 6.05%</title>
        <cusip>29273VBB5</cusip>
        <identifiers>
          <isin value="US29273VBB53"/>
          <ticker value="ET"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194295.16</valUSD>
        <pctVal>0.0064504835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="198395.700000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK 2024-BNK47 5.716%</name>
        <lei>N/A</lei>
        <title>BANK 2024-BNK47 5.716%</title>
        <cusip>06540GAV0</cusip>
        <identifiers>
          <isin value="US06540GAV05"/>
          <ticker value="BANK"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>208257.26</valUSD>
        <pctVal>0.0069140169</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.716000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC HLDGS. PLC 6.80%</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HLDGS. PLC 6.80%</title>
        <cusip>404280DN6</cusip>
        <identifiers>
          <isin value="US404280DN62"/>
          <ticker value="HSBC"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>164026.71</valUSD>
        <pctVal>0.0054455890</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMGEN INC 5.60%</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>AMGEN INC 5.60%</title>
        <cusip>031162DS6</cusip>
        <identifiers>
          <isin value="US031162DS61"/>
          <ticker value="AMGN"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>993977.43</valUSD>
        <pctVal>0.0329994582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEXAS INSTRUMENTS I 4.90%</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>TEXAS INSTRUMENTS I 4.90%</title>
        <cusip>882508CB8</cusip>
        <identifiers>
          <isin value="US882508CB86"/>
          <ticker value="TXN"/>
        </identifiers>
        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>810279.74</valUSD>
        <pctVal>0.0269008044</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. IN F2F</title>
        <cusip>38141GXA7</cusip>
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          <isin value="US38141GXA74"/>
          <ticker value="GS"/>
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        <curCd>USD</curCd>
        <valUSD>452160.21</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GLOBAL PAYMENTS INC 5.20%</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>GLOBAL PAYMENTS INC 5.20%</title>
        <cusip>37940XAX0</cusip>
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          <ticker value="GPN"/>
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        <curCd>USD</curCd>
        <valUSD>585988.74</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>SYNCHRONY CARD ISSU 4.06%</name>
        <lei>N/A</lei>
        <title>SYNCHRONY CARD ISSU 4.06%</title>
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        <identifiers>
          <isin value="US87166PAR29"/>
          <ticker value="SYNIT"/>
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        <curCd>USD</curCd>
        <valUSD>74235.62</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.50%</title>
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          <isin value="US91282CPN55"/>
          <ticker value="T"/>
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        <balance>8000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7775624.96</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PPL ELEC. UTILITIES 5.75%</name>
        <lei>549300GCZLSGYEYPIR35</lei>
        <title>PPL ELEC. UTILITIES 5.75%</title>
        <cusip>69351UBE2</cusip>
        <identifiers>
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          <ticker value="PPL"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300033.4</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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>SERVICENOW INC 5.40%</name>
        <lei>549300HJTQM36M0E1G39</lei>
        <title>SERVICENOW INC 5.40%</title>
        <cusip>81762PAJ1</cusip>
        <identifiers>
          <isin value="US81762PAJ12"/>
          <ticker value="NOW"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>699641.29</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DEVON ENERGY CORP 4.375%</name>
        <lei>54930042348RKR3ZPN35</lei>
        <title>DEVON ENERGY CORP 4.375%</title>
        <cusip>25179MBK8</cusip>
        <identifiers>
          <isin value="US25179MBK80"/>
          <ticker value="DVN"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198372.84</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONSOLIDATED EDISON 5.50%</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>CONSOLIDATED EDISON 5.50%</title>
        <cusip>209111EY5</cusip>
        <identifiers>
          <isin value="US209111EY58"/>
          <ticker value="ED"/>
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        <balance>85000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85372.22</valUSD>
        <pctVal>0.0028343068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>BOSTON SCIENTIFIC 7.375%</name>
        <lei>Y6ZDD9FP4P8JSSJMW954</lei>
        <title>BOSTON SCIENTIFIC 7.375%</title>
        <cusip>101137AL1</cusip>
        <identifiers>
          <isin value="US101137AL15"/>
          <ticker value="BSX"/>
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        <balance>240000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>284714.44</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.375000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3138LUS22</cusip>
        <identifiers>
          <isin value="US3138LUS221"/>
          <ticker value="FNMA"/>
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        <balance>207227.04</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>193562.71</valUSD>
        <pctVal>0.0064261666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.875%</title>
        <cusip>91282CJF9</cusip>
        <identifiers>
          <isin value="US91282CJF95"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5076953.1</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875000000000</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>
        <name>BANK 2018-BNK11 VAR</name>
        <lei>N/A</lei>
        <title>BANK 2018-BNK11 VAR</title>
        <cusip>06540TAD2</cusip>
        <identifiers>
          <isin value="US06540TAD28"/>
          <ticker value="BANK"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>395370.4</valUSD>
        <pctVal>0.0131260616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.046000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANK 2018-BNK13 VAR</name>
        <lei>N/A</lei>
        <title>BANK 2018-BNK13 VAR</title>
        <cusip>06539LBB5</cusip>
        <identifiers>
          <isin value="US06539LBB53"/>
          <ticker value="BANK"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98679.44</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.217000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERICAN WATER CAP. 5.45%</name>
        <lei>5IDHQUFVC8Q2KIBBFF06</lei>
        <title>AMERICAN WATER CAP. 5.45%</title>
        <cusip>03040WBC8</cusip>
        <identifiers>
          <isin value="US03040WBC82"/>
          <ticker value="AWK"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>287394.83</valUSD>
        <pctVal>0.0095413370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>KREDITANSTALT FUER 4.375%</name>
        <lei>549300GDPG70E3MBBU98</lei>
        <title>KREDITANSTALT FUER 4.375%</title>
        <cusip>500769KD5</cusip>
        <identifiers>
          <isin value="US500769KD52"/>
          <ticker value="KFW"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1501110.86</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>3140HBFX1</cusip>
        <identifiers>
          <isin value="US3140HBFX17"/>
          <ticker value="FNMA"/>
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        <balance>172983.29</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>173312.23</valUSD>
        <pctVal>0.0057538627</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <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>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>31418DC67</cusip>
        <identifiers>
          <isin value="US31418DC676"/>
          <ticker value="FNMA"/>
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        <balance>78694.3</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>71992.5</valUSD>
        <pctVal>0.0023901081</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY CORP 3.75%</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>DUKE ENERGY CORP 3.75%</title>
        <cusip>26441CAT2</cusip>
        <identifiers>
          <isin value="US26441CAT27"/>
          <ticker value="DUK"/>
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        <balance>120000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89696.87</valUSD>
        <pctVal>0.0029778826</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ANHEUSER-BUSCH INBE 4.95%</name>
        <lei>549300CRGMZK3K53BF92</lei>
        <title>ANHEUSER-BUSCH INBE 4.95%</title>
        <cusip>035240AG5</cusip>
        <identifiers>
          <isin value="US035240AG57"/>
          <ticker value="ABIBB"/>
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        <balance>190000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179210.19</valUSD>
        <pctVal>0.0059496715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CONAGRA BRANDS INC 5.30%</name>
        <lei>54930035UDEIH090K650</lei>
        <title>CONAGRA BRANDS INC 5.30%</title>
        <cusip>205887CD2</cusip>
        <identifiers>
          <isin value="US205887CD22"/>
          <ticker value="CAG"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189530.79</valUSD>
        <pctVal>0.0062923092</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
        <cusip>91282CNK3</cusip>
        <identifiers>
          <isin value="US91282CNK35"/>
          <ticker value="T"/>
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        <balance>5800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5732937.5</valUSD>
        <pctVal>0.1903301076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDEX CORP 3.10%</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FEDEX CORP 3.10%</title>
        <cusip>31428XDF0</cusip>
        <identifiers>
          <isin value="US31428XDF06"/>
          <ticker value="FDX"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>239132.45</valUSD>
        <pctVal>0.0079390548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO COMMER 3.729%</name>
        <lei>N/A</lei>
        <title>WELLS FARGO COMMER 3.729%</title>
        <cusip>95001XBB1</cusip>
        <identifiers>
          <isin value="US95001XBB10"/>
          <ticker value="WFCM"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>193118.16</valUSD>
        <pctVal>0.0064114078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.729000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMEREN ILLINOIS CO 3.25%</name>
        <lei>RC71E2BZ6UOMFPDJSE79</lei>
        <title>AMEREN ILLINOIS CO 3.25%</title>
        <cusip>02361DAU4</cusip>
        <identifiers>
          <isin value="US02361DAU46"/>
          <ticker value="AEE"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204794.57</valUSD>
        <pctVal>0.0067990576</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL FIN. 4.25%</name>
        <lei>QKL54NQY28TCDAI75F60</lei>
        <title>INTERNATIONAL FIN. 4.25%</title>
        <cusip>45950KDH0</cusip>
        <identifiers>
          <isin value="US45950KDH05"/>
          <ticker value="IFC"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1001581.49</valUSD>
        <pctVal>0.0332519084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOTALENERGIES CAP. 5.275%</name>
        <lei>529900QI55ZLJVCMPA71</lei>
        <title>TOTALENERGIES CAP. 5.275%</title>
        <cusip>89157XAE1</cusip>
        <identifiers>
          <isin value="US89157XAE13"/>
          <ticker value="TTEFP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>471049.12</valUSD>
        <pctVal>0.0156385500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.275000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CARRIER GBL. CORP 6.20%</name>
        <lei>549300JE3W6CWY2NAN77</lei>
        <title>CARRIER GBL. CORP 6.20%</title>
        <cusip>14448CBD5</cusip>
        <identifiers>
          <isin value="US14448CBD56"/>
          <ticker value="CARR"/>
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        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80439.56</valUSD>
        <pctVal>0.0026705454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="81834.560000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>ABBVIE INC 4.80%</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBVIE INC 4.80%</title>
        <cusip>00287YDS5</cusip>
        <identifiers>
          <isin value="US00287YDS54"/>
          <ticker value="ABBV"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503876.77</valUSD>
        <pctVal>0.0167284084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WALT DISNEY CO/THE 6.40%</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>WALT DISNEY CO/THE 6.40%</title>
        <cusip>254687EB8</cusip>
        <identifiers>
          <isin value="US254687EB89"/>
          <ticker value="DIS"/>
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        <balance>31000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34167.36</valUSD>
        <pctVal>0.0011343360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>31418DKL5</cusip>
        <identifiers>
          <isin value="US31418DKL54"/>
          <ticker value="FNMA"/>
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        <balance>191527.57</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>185515.92</valUSD>
        <pctVal>0.0061590180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 2.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.00%</title>
        <cusip>36179VVX5</cusip>
        <identifiers>
          <isin value="US36179VVX53"/>
          <ticker value="GNR"/>
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        <balance>955277.42</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>785290.53</valUSD>
        <pctVal>0.0260711775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2F</title>
        <cusip>6174468U6</cusip>
        <identifiers>
          <isin value="US6174468U61"/>
          <ticker value="MS"/>
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        <balance>36000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31316.99</valUSD>
        <pctVal>0.0010397054</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.794000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALIBABA GRP. HLDG. 5.25%</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>ALIBABA GRP. HLDG. 5.25%</title>
        <cusip>01609WBP6</cusip>
        <identifiers>
          <isin value="US01609WBP68"/>
          <ticker value="BABA"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204562.55</valUSD>
        <pctVal>0.0067913547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRIDGECREST LENDING 4.80%</name>
        <lei>N/A</lei>
        <title>BRIDGECREST LENDING 4.80%</title>
        <cusip>10807UAE7</cusip>
        <identifiers>
          <isin value="US10807UAE73"/>
          <ticker value="BLAST"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24928.35</valUSD>
        <pctVal>0.0008276064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BERKSHIRE HATHAWAY 2.50%</name>
        <lei>549300RLHFT5RU20WM87</lei>
        <title>BERKSHIRE HATHAWAY 2.50%</title>
        <cusip>084664CX7</cusip>
        <identifiers>
          <isin value="US084664CX75"/>
          <ticker value="BRK"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>176655.5</valUSD>
        <pctVal>0.0058648573</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIF 2.013%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC MULTIF 2.013%</title>
        <cusip>3137F8TF0</cusip>
        <identifiers>
          <isin value="US3137F8TF05"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>119256.27</valUSD>
        <pctVal>0.0039592371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.013000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MASSACHUSETTS INST 3.885%</name>
        <lei>DLZO3A31IADZ27B62557</lei>
        <title>MASSACHUSETTS INST 3.885%</title>
        <cusip>575718AF8</cusip>
        <identifiers>
          <isin value="US575718AF80"/>
          <ticker value="MASSIN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202176.06</valUSD>
        <pctVal>0.0067121247</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2116-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.885000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418CGD0</cusip>
        <identifiers>
          <isin value="US31418CGD02"/>
          <ticker value="FNMA"/>
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        <balance>176566.91</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>157213.07</valUSD>
        <pctVal>0.0052193802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CMS ENERGY CORP 3.45%</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS ENERGY CORP 3.45%</title>
        <cusip>125896BS8</cusip>
        <identifiers>
          <isin value="US125896BS82"/>
          <ticker value="CMS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>494133.58</valUSD>
        <pctVal>0.0164049403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LOWE S COS INC 4.05%</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>LOWE S COS INC 4.05%</title>
        <cusip>548661DQ7</cusip>
        <identifiers>
          <isin value="US548661DQ70"/>
          <ticker value="LOW"/>
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        <balance>94000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>73486.9</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.050000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JOHNSON CONTROLS INTL STP</name>
        <lei>549300XQ6S1GYKGBL205</lei>
        <title>JOHNSON CONTROLS INTL STP</title>
        <cusip>478375AN8</cusip>
        <identifiers>
          <isin value="US478375AN81"/>
          <ticker value="JCI"/>
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        <balance>110000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>96126.94</valUSD>
        <pctVal>0.0031913571</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-07-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFA 3.60%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFA 3.60%</title>
        <cusip>3137F4D41</cusip>
        <identifiers>
          <isin value="US3137F4D414"/>
          <ticker value="FHLMC"/>
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        <balance>148165.64</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146331.19</valUSD>
        <pctVal>0.0048581083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 3.424%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 3.424%</title>
        <cusip>3137FDES7</cusip>
        <identifiers>
          <isin value="US3137FDES77"/>
          <ticker value="FHLMC"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>96949.19</valUSD>
        <pctVal>0.0032186553</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.424000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PAM8</cusip>
        <identifiers>
          <isin value="US46647PAM86"/>
          <ticker value="JPM"/>
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        <balance>1090000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1071959.08</valUSD>
        <pctVal>0.0355884025</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.509000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KOREA DEV. BANK/TH 4.875%</name>
        <lei>549300ML2LNRZUCS7149</lei>
        <title>KOREA DEV. BANK/TH 4.875%</title>
        <cusip>500630EH7</cusip>
        <identifiers>
          <isin value="US500630EH79"/>
          <ticker value="KDB"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203170</valUSD>
        <pctVal>0.0067451229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GMK2</cusip>
        <identifiers>
          <isin value="US06051GMK21"/>
          <ticker value="BAC"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502731.35</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.979000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179UD90</cusip>
        <identifiers>
          <isin value="US36179UD903"/>
          <ticker value="GNR"/>
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        <balance>179975.22</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>170886.63</valUSD>
        <pctVal>0.0056733343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITEDHEALTH GROUP 3.875%</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GROUP 3.875%</title>
        <cusip>91324PDP4</cusip>
        <identifiers>
          <isin value="US91324PDP45"/>
          <ticker value="UNH"/>
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        <balance>218000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>215034.25</valUSD>
        <pctVal>0.0071390089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PAN6</cusip>
        <identifiers>
          <isin value="US46647PAN69"/>
          <ticker value="JPM"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>545463.9</valUSD>
        <pctVal>0.0181090763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.897000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138YUHN4</cusip>
        <identifiers>
          <isin value="US3138YUHN41"/>
          <ticker value="FNMA"/>
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        <balance>121104.17</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>109213.44</valUSD>
        <pctVal>0.0036258211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WALT DISNEY CO/THE 4.95%</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>WALT DISNEY CO/THE 4.95%</title>
        <cusip>254687EX0</cusip>
        <identifiers>
          <isin value="US254687EX00"/>
          <ticker value="DIS"/>
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        <balance>800000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <ticker value="FNMA"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <cusip>36179SYT8</cusip>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AERCAP IRELAND CAP 3.875%</name>
        <lei>N/A</lei>
        <title>AERCAP IRELAND CAP 3.875%</title>
        <cusip>00774MAE5</cusip>
        <identifiers>
          <isin value="US00774MAE57"/>
          <ticker value="AER"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>122013.99</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 2.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.00%</title>
        <cusip>36179VZQ6</cusip>
        <identifiers>
          <isin value="US36179VZQ66"/>
          <ticker value="GNR"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1823885.88</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFA 1.86%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137FXQW1</cusip>
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          <ticker value="FHLMC"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79069.69</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
        <cusip>91282CFU0</cusip>
        <identifiers>
          <isin value="US91282CFU09"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4997070.3</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ONEOK INC 5.15%</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK INC 5.15%</title>
        <cusip>682680BV4</cusip>
        <identifiers>
          <isin value="US682680BV46"/>
          <ticker value="OKE"/>
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        <balance>20000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18123.61</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>STANDARD CHARTERED 4.853%</name>
        <lei>N/A</lei>
        <title>STANDARD CHARTERED 4.853%</title>
        <cusip>85325X2B1</cusip>
        <identifiers>
          <isin value="US85325X2B15"/>
          <ticker value="STANLN"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>251730.74</valUSD>
        <pctVal>0.0083573105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-03</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 3.444%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 3.444%</title>
        <cusip>3137FEBQ2</cusip>
        <identifiers>
          <isin value="US3137FEBQ22"/>
          <ticker value="FHLMC"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>147985.56</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.444000000000</annualizedRt>
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      <invstOrSec>
        <name>KREDITANSTALT FUER 2.875%</name>
        <lei>549300GDPG70E3MBBU98</lei>
        <title>KREDITANSTALT FUER 2.875%</title>
        <cusip>500769HS6</cusip>
        <identifiers>
          <isin value="US500769HS68"/>
          <ticker value="KFW"/>
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        <balance>1215000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1188821.03</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.875000000000</annualizedRt>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
        <cusip>91282CLR0</cusip>
        <identifiers>
          <isin value="US91282CLR06"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4991992.2</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
        <cusip>91282CLU3</cusip>
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          <isin value="US91282CLU35"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4975195.3</valUSD>
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        <issuerCat>UST</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>SONOCO PRODUCTS CO 2.85%</name>
        <lei>GKOMIK4RDJGHEF0VNP11</lei>
        <title>SONOCO PRODUCTS CO 2.85%</title>
        <cusip>835495AP7</cusip>
        <identifiers>
          <isin value="US835495AP77"/>
          <ticker value="SON"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>269589.22</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.850000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179WXL7</cusip>
        <identifiers>
          <isin value="US36179WXL70"/>
          <ticker value="GNR"/>
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        <balance>1365092.72</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1238732.23</valUSD>
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        <issuerCat>USGA</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MIDAMERICAN ENERGY 3.65%</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>MIDAMERICAN ENERGY 3.65%</title>
        <cusip>595620AS4</cusip>
        <identifiers>
          <isin value="US595620AS49"/>
          <ticker value="BRKHEC"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>222286.55</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ERP OPERATING LP 3.50%</name>
        <lei>DX5HQV5MLU50FEWZ5072</lei>
        <title>ERP OPERATING LP 3.50%</title>
        <cusip>26884ABJ1</cusip>
        <identifiers>
          <isin value="US26884ABJ16"/>
          <ticker value="EQR"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>492262.79</valUSD>
        <pctVal>0.0163428312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
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        <name>UNITED STATES TSY. 4.00%</name>
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        <name>BHP BILLITON FIN. U 5.00%</name>
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        <name>SYNOPSYS INC 4.85%</name>
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        <name>UNITED STATES TSY. 4.125%</name>
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        <name>FACTSET RESEARCH SY 3.45%</name>
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        <name>BROADCOM INC 4.15%</name>
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        <name>FLORIDA POWER &amp; LIG 5.65%</name>
        <lei>A89MY1K3YLIGJMYWVX50</lei>
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          <ticker value="NEE"/>
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        <curCd>USD</curCd>
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        <name>FANNIE MAE POOL 3.00%</name>
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        <name>FNB CORP/PA F2F</name>
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        <name>FANNIE MAE POOL 4.50%</name>
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        <name>TELEFONICA EMISION 5.213%</name>
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      <invstOrSec>
        <name>OKLAHOMA GAS AND EL 4.15%</name>
        <lei>549300VJ8YXGPO8EV472</lei>
        <title>OKLAHOMA GAS AND EL 4.15%</title>
        <cusip>678858BR1</cusip>
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          <ticker value="OGE"/>
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        <curCd>USD</curCd>
        <valUSD>161470.47</valUSD>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>INTEL CORP 3.25%</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>INTEL CORP 3.25%</title>
        <cusip>458140BJ8</cusip>
        <identifiers>
          <isin value="US458140BJ82"/>
          <ticker value="INTC"/>
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        <curCd>USD</curCd>
        <valUSD>130219.28</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179VBF6</cusip>
        <identifiers>
          <isin value="US36179VBF67"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-12-20</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>3131WNWS9</cusip>
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          <isin value="US3131WNWS94"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>242773.77</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-01-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3131WRET8</cusip>
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          <isin value="US3131WRET83"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>120217.74</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-01-01</maturityDt>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
        <cusip>91282CLZ2</cusip>
        <identifiers>
          <isin value="US91282CLZ22"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4973242.2</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>912810TL2</cusip>
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          <isin value="US912810TL26"/>
          <ticker value="T"/>
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        <balance>5850000</balance>
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        <curCd>USD</curCd>
        <valUSD>5005406.25</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BOEING CO/THE 6.388%</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO/THE 6.388%</title>
        <cusip>097023DR3</cusip>
        <identifiers>
          <isin value="US097023DR39"/>
          <ticker value="BA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>531274.91</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.388000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOLVENTUM CORP 5.90%</name>
        <lei>254900I70403OSGY4M28</lei>
        <title>SOLVENTUM CORP 5.90%</title>
        <cusip>83444MAS0</cusip>
        <identifiers>
          <isin value="US83444MAS08"/>
          <ticker value="SOLV"/>
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        <balance>293000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>289992.38</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.900000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HONEYWELL INTERNAT 3.812%</name>
        <lei>ISRPG12PN4EIEOEMW547</lei>
        <title>HONEYWELL INTERNAT 3.812%</title>
        <cusip>438516BS4</cusip>
        <identifiers>
          <isin value="US438516BS48"/>
          <ticker value="HON"/>
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        <balance>425000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>329272.53</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-21</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>SANOFI 3.625%</name>
        <lei>549300E9PC51EN656011</lei>
        <title>SANOFI 3.625%</title>
        <cusip>801060AD6</cusip>
        <identifiers>
          <isin value="US801060AD60"/>
          <ticker value="SANFP"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>246925.81</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-19</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
        <cusip>91282CFV8</cusip>
        <identifiers>
          <isin value="US91282CFV81"/>
          <ticker value="T"/>
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        <balance>8000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7928124.96</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</annualizedRt>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
        <cusip>91282CLX7</cusip>
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          <isin value="US91282CLX73"/>
          <ticker value="T"/>
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        <balance>5020000</balance>
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        <curCd>USD</curCd>
        <valUSD>5016862.5</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>PHILIPPINE GOV. INT 3.70%</name>
        <lei>529900RAHBALMYIJ3T08</lei>
        <title>PHILIPPINE GOV. INT 3.70%</title>
        <cusip>718286CB1</cusip>
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          <isin value="US718286CB15"/>
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        <curCd>USD</curCd>
        <valUSD>402927.92</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-02-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.700000000000</annualizedRt>
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        <securityLending>
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        <name>LLOYDS BANKING GRP 4.344%</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>LLOYDS BANKING GRP 4.344%</title>
        <cusip>53944YAE3</cusip>
        <identifiers>
          <isin value="US53944YAE32"/>
          <ticker value="LLOYDS"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
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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>2048-01-09</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>SOUTHERN CO/THE 4.85%</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>SOUTHERN CO/THE 4.85%</title>
        <cusip>842587EA1</cusip>
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          <isin value="US842587EA18"/>
          <ticker value="SO"/>
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        <curCd>USD</curCd>
        <valUSD>390693.48</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>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CARVANA AUTO RECEIV 4.31%</name>
        <lei>N/A</lei>
        <title>CARVANA AUTO RECEIV 4.31%</title>
        <cusip>146919AD7</cusip>
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          <isin value="US146919AD71"/>
          <ticker value="CRVNA"/>
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        <balance>25000</balance>
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        <curCd>USD</curCd>
        <valUSD>24860.92</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-10</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.50%</title>
        <cusip>912810UE6</cusip>
        <identifiers>
          <isin value="US912810UE63"/>
          <ticker value="T"/>
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        <curCd>USD</curCd>
        <valUSD>6050839.86</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-11-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>91282CMB4</cusip>
        <identifiers>
          <isin value="US91282CMB45"/>
          <ticker value="T"/>
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        <curCd>USD</curCd>
        <valUSD>4988476.55</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.25%</title>
        <cusip>91282CLW9</cusip>
        <identifiers>
          <isin value="US91282CLW90"/>
          <ticker value="T"/>
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        <balance>13500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13368164.13</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.375%</title>
        <cusip>912810RG5</cusip>
        <identifiers>
          <isin value="US912810RG58"/>
          <ticker value="T"/>
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        <balance>1600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1304375.01</valUSD>
        <pctVal>0.0433044728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.375000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STEEL DYNAMICS INC 3.45%</name>
        <lei>549300HGGKEL4FYTTQ83</lei>
        <title>STEEL DYNAMICS INC 3.45%</title>
        <cusip>858119BK5</cusip>
        <identifiers>
          <isin value="US858119BK53"/>
          <ticker value="STLD"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>286340.63</valUSD>
        <pctVal>0.0095063382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTHERN CALIFORNIA 2.95%</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>SOUTHERN CALIFORNIA 2.95%</title>
        <cusip>842400GY3</cusip>
        <identifiers>
          <isin value="US842400GY39"/>
          <ticker value="EIX"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>180754.37</valUSD>
        <pctVal>0.0060009373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HYUNDAI AUTO RECEIV 4.36%</name>
        <lei>N/A</lei>
        <title>HYUNDAI AUTO RECEIV 4.36%</title>
        <cusip>44935XAD7</cusip>
        <identifiers>
          <isin value="US44935XAD75"/>
          <ticker value="HART"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100030.69</valUSD>
        <pctVal>0.0033209593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.360000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TARGA RES. CORP 5.65%</name>
        <lei>5493003QENHHS261UR94</lei>
        <title>TARGA RES. CORP 5.65%</title>
        <cusip>87612GAQ4</cusip>
        <identifiers>
          <isin value="US87612GAQ47"/>
          <ticker value="TRGP"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>254129.08</valUSD>
        <pctVal>0.0084369340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>31418CUA0</cusip>
        <identifiers>
          <isin value="US31418CUA07"/>
          <ticker value="FNMA"/>
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        <balance>268215.93</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>246397.75</valUSD>
        <pctVal>0.0081802584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MPLX LP 4.70%</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP 4.70%</title>
        <cusip>55336VAN0</cusip>
        <identifiers>
          <isin value="US55336VAN01"/>
          <ticker value="MPLX"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>332257.22</valUSD>
        <pctVal>0.0110307416</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BA CREDIT CARD TRUS 4.31%</name>
        <lei>5493006DQ60M1CRKHH19</lei>
        <title>BA CREDIT CARD TRUS 4.31%</title>
        <cusip>05522RDK1</cusip>
        <identifiers>
          <isin value="US05522RDK14"/>
          <ticker value="MBNAS"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99962.71</valUSD>
        <pctVal>0.0033187024</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.310000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>3140W1XZ1</cusip>
        <identifiers>
          <isin value="US3140W1XZ19"/>
          <ticker value="FNMA"/>
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        <balance>882652.88</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>897233.7</valUSD>
        <pctVal>0.0297876240</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179WXJ2</cusip>
        <identifiers>
          <isin value="US36179WXJ25"/>
          <ticker value="GNR"/>
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        <balance>1044128.2</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>892731.92</valUSD>
        <pctVal>0.0296381676</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AON CORP / AON GBL. 3.90%</name>
        <lei>N/A</lei>
        <title>AON CORP / AON GBL. 3.90%</title>
        <cusip>03740LAE2</cusip>
        <identifiers>
          <isin value="US03740LAE20"/>
          <ticker value="AON"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>221899.13</valUSD>
        <pctVal>0.0073669188</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CME GRP. INC 3.75%</name>
        <lei>LCZ7XYGSLJUHFXXNXD88</lei>
        <title>CME GRP. INC 3.75%</title>
        <cusip>12572QAJ4</cusip>
        <identifiers>
          <isin value="US12572QAJ40"/>
          <ticker value="CME"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>296926.26</valUSD>
        <pctVal>0.0098577748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ABBOTT LABORATORIES 4.75%</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>ABBOTT LABORATORIES 4.75%</title>
        <cusip>002824BN9</cusip>
        <identifiers>
          <isin value="US002824BN93"/>
          <ticker value="ABT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>91868.15</valUSD>
        <pctVal>0.0030499678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NATURE CONSERVANCY 3.957%</name>
        <lei>549300GJ1IZME7V1JJ28</lei>
        <title>NATURE CONSERVANCY 3.957%</title>
        <cusip>63902HBF5</cusip>
        <identifiers>
          <isin value="US63902HBF55"/>
          <ticker value="NACONV"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39109.57</valUSD>
        <pctVal>0.0012984144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.957000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WORKDAY INC 3.80%</name>
        <lei>549300J0DYC0N31V7G13</lei>
        <title>WORKDAY INC 3.80%</title>
        <cusip>98138HAJ0</cusip>
        <identifiers>
          <isin value="US98138HAJ05"/>
          <ticker value="WDAY"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>279355.89</valUSD>
        <pctVal>0.0092744490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="282237.540000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138LQ3J1</cusip>
        <identifiers>
          <isin value="US3138LQ3J18"/>
          <ticker value="FNMA"/>
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        <balance>10918.76</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10848.06</valUSD>
        <pctVal>0.0003601491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179RQZ5</cusip>
        <identifiers>
          <isin value="US36179RQZ54"/>
          <ticker value="GNR"/>
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        <balance>55844.57</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50399.76</valUSD>
        <pctVal>0.0016732420</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BAKER HUGHES A GE C 4.08%</name>
        <lei>N/A</lei>
        <title>BAKER HUGHES A GE C 4.08%</title>
        <cusip>05723KAF7</cusip>
        <identifiers>
          <isin value="US05723KAF75"/>
          <ticker value="BHI"/>
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        <balance>110000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>87267.33</valUSD>
        <pctVal>0.0028972233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.080000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3140Q9EZ2</cusip>
        <identifiers>
          <isin value="US3140Q9EZ24"/>
          <ticker value="FNMA"/>
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        <balance>95044.06</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>90208</valUSD>
        <pctVal>0.0029948518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC SERV. CO OF 4.10%</name>
        <lei>5BANEF6PGSEK0SNMQF44</lei>
        <title>PUBLIC SERV. CO OF 4.10%</title>
        <cusip>744448CQ2</cusip>
        <identifiers>
          <isin value="US744448CQ27"/>
          <ticker value="XEL"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>239204.77</valUSD>
        <pctVal>0.0079414558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PAA4</cusip>
        <identifiers>
          <isin value="US46647PAA49"/>
          <ticker value="JPM"/>
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        <balance>114000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94292.04</valUSD>
        <pctVal>0.0031304395</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.260000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179SB71</cusip>
        <identifiers>
          <isin value="US36179SB711"/>
          <ticker value="GNR"/>
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        <balance>345382.21</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>310942.67</valUSD>
        <pctVal>0.0103231113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MEXICO GOV. INTL. B 4.35%</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEXICO GOV. INTL. B 4.35%</title>
        <cusip>91087BAB6</cusip>
        <identifiers>
          <isin value="US91087BAB62"/>
          <ticker value="MEX"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>369500</valUSD>
        <pctVal>0.0122671797</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MCDONALD S CORP 4.45%</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>MCDONALD S CORP 4.45%</title>
        <cusip>58013MFC3</cusip>
        <identifiers>
          <isin value="US58013MFC38"/>
          <ticker value="MCD"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>168872.34</valUSD>
        <pctVal>0.0056064610</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALIBABA GRP. HLDG. 4.40%</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>ALIBABA GRP. HLDG. 4.40%</title>
        <cusip>01609WAW2</cusip>
        <identifiers>
          <isin value="US01609WAW29"/>
          <ticker value="BABA"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>488070.09</valUSD>
        <pctVal>0.0162036360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-12-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTHWEST GAS CORP 3.80%</name>
        <lei>OQQR1IQTGBKH0UR88X59</lei>
        <title>SOUTHWEST GAS CORP 3.80%</title>
        <cusip>844895AX0</cusip>
        <identifiers>
          <isin value="US844895AX00"/>
          <ticker value="SWX"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38118.74</valUSD>
        <pctVal>0.0012655194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-09-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AVALONBAY COMMUNITI 3.90%</name>
        <lei>K9G90K85RBWD2LAGQX17</lei>
        <title>AVALONBAY COMMUNITI 3.90%</title>
        <cusip>05348EAZ2</cusip>
        <identifiers>
          <isin value="US05348EAZ25"/>
          <ticker value="AVB"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>236191.54</valUSD>
        <pctVal>0.0078414183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. IN F2F</title>
        <cusip>38141GWV2</cusip>
        <identifiers>
          <isin value="US38141GWV21"/>
          <ticker value="GS"/>
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        <balance>70000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>68900.43</valUSD>
        <pctVal>0.0022874532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.814000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LINCOLN NATIONAL CO 3.80%</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
        <title>LINCOLN NATIONAL CO 3.80%</title>
        <cusip>534187BH1</cusip>
        <identifiers>
          <isin value="US534187BH11"/>
          <ticker value="LNC"/>
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        <balance>117000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>115346.31</valUSD>
        <pctVal>0.0038294287</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN EXPRESS CO F2F</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>AMERICAN EXPRESS CO F2F</title>
        <cusip>025816EJ4</cusip>
        <identifiers>
          <isin value="US025816EJ48"/>
          <ticker value="AXP"/>
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        <balance>420000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>417851.92</valUSD>
        <pctVal>0.0138724347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.351000000000</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>CATERPILLAR FINL. S 4.15%</name>
        <lei>EDBQKYOPJUCJKLOJDE72</lei>
        <title>CATERPILLAR FINL. S 4.15%</title>
        <cusip>14913UBH2</cusip>
        <identifiers>
          <isin value="US14913UBH23"/>
          <ticker value="CAT"/>
        </identifiers>
        <balance>500000</balance>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.50%</name>
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        <name>BLUE OWL TECH. FIN. 6.10%</name>
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      <invstOrSec>
        <name>HEWLETT PACKARD ENT. STP</name>
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        <name>CONSTELLATION BRAND 4.65%</name>
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        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
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        <cusip>3132A5HF5</cusip>
        <identifiers>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3140Q9T94</cusip>
        <identifiers>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140JVJP8</cusip>
        <identifiers>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>3131XUKF3</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>188493.82</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179S2P1</cusip>
        <identifiers>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418CRE6</cusip>
        <identifiers>
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          <ticker value="FNMA"/>
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        <balance>38533.45</balance>
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        <curCd>USD</curCd>
        <valUSD>37503.69</valUSD>
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          <couponKind>Fixed</couponKind>
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        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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          <ticker value="BAC"/>
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        <curCd>USD</curCd>
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        <name>AUTONATION INC 3.85%</name>
        <lei>N/A</lei>
        <title>AUTONATION INC 3.85%</title>
        <cusip>05329RAA1</cusip>
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          <ticker value="AN"/>
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        <curCd>USD</curCd>
        <valUSD>280272.83</valUSD>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179SJT5</cusip>
        <identifiers>
          <isin value="US36179SJT50"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>ONEOK INC 5.70%</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK INC 5.70%</title>
        <cusip>682680CF8</cusip>
        <identifiers>
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          <ticker value="OKE"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>278492.15</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2054-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>VENTAS REALTY LP 5.00%</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
        <title>VENTAS REALTY LP 5.00%</title>
        <cusip>92277GBA4</cusip>
        <identifiers>
          <isin value="US92277GBA40"/>
          <ticker value="VTR"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>295718.13</valUSD>
        <pctVal>0.0098176656</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY FLORIDA 3.40%</name>
        <lei>7MOHLM3DKE63RX2ZCN83</lei>
        <title>DUKE ENERGY FLORIDA 3.40%</title>
        <cusip>26444HAA9</cusip>
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          <isin value="US26444HAA95"/>
          <ticker value="DUK"/>
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        <curCd>USD</curCd>
        <valUSD>209699.95</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GILEAD SCIENCES INC 4.15%</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>GILEAD SCIENCES INC 4.15%</title>
        <cusip>375558BK8</cusip>
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          <isin value="US375558BK80"/>
          <ticker value="GILD"/>
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        <curCd>USD</curCd>
        <valUSD>49084.43</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BENCHMARK 2018-B8 4.2317%</name>
        <lei>N/A</lei>
        <title>BENCHMARK 2018-B8 4.2317%</title>
        <cusip>08162UAW0</cusip>
        <identifiers>
          <isin value="US08162UAW09"/>
          <ticker value="BMARK"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98059.76</valUSD>
        <pctVal>0.0032555256</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CORNING INC 3.90%</name>
        <lei>549300X2937PB0CJ7I56</lei>
        <title>CORNING INC 3.90%</title>
        <cusip>219350BP9</cusip>
        <identifiers>
          <isin value="US219350BP93"/>
          <ticker value="GLW"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>228302.2</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.900000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>31418DKJ0</cusip>
        <identifiers>
          <isin value="US31418DKJ09"/>
          <ticker value="FNMA"/>
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        <balance>597666.78</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>561133.63</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179VBG4</cusip>
        <identifiers>
          <isin value="US36179VBG41"/>
          <ticker value="GNR"/>
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        <balance>651028.4</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>593373.93</valUSD>
        <pctVal>0.0196996608</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BROADCOM INC 4.30%</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>BROADCOM INC 4.30%</title>
        <cusip>11135FCZ2</cusip>
        <identifiers>
          <isin value="US11135FCZ27"/>
          <ticker value="AVGO"/>
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        <balance>1200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1180417.21</valUSD>
        <pctVal>0.0391891477</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>3618N56F1</cusip>
        <identifiers>
          <isin value="US3618N56F17"/>
          <ticker value="GNR"/>
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        <balance>989630.12</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>920456.54</valUSD>
        <pctVal>0.0305586084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PROVINCE OF ONTARI 2.125%</name>
        <lei>C7PVKCRGLG18EBQGZV36</lei>
        <title>PROVINCE OF ONTARI 2.125%</title>
        <cusip>683234AU2</cusip>
        <identifiers>
          <isin value="US683234AU21"/>
          <ticker value="ONT"/>
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        <balance>60000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>53260.16</valUSD>
        <pctVal>0.0017682056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MONDELEZ INTERNATIO 3.00%</name>
        <lei>549300DV9GIB88LZ5P30</lei>
        <title>MONDELEZ INTERNATIO 3.00%</title>
        <cusip>609207BB0</cusip>
        <identifiers>
          <isin value="US609207BB05"/>
          <ticker value="MDLZ"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>453808.05</valUSD>
        <pctVal>0.0150661567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN HOMES 4 RE 4.30%</name>
        <lei>549300N4PXZ37U8QKI55</lei>
        <title>AMERICAN HOMES 4 RE 4.30%</title>
        <cusip>02666TAF4</cusip>
        <identifiers>
          <isin value="US02666TAF49"/>
          <ticker value="AMH"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>158041.81</valUSD>
        <pctVal>0.0052468939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIBANK CREDIT CAR 6.15%</name>
        <lei>R8AG6FXVDQAMDKCSJJ64</lei>
        <title>CITIBANK CREDIT CAR 6.15%</title>
        <cusip>17305EDT9</cusip>
        <identifiers>
          <isin value="US17305EDT91"/>
          <ticker value="C"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>54692.39</valUSD>
        <pctVal>0.0018157547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>3138AKGM5</cusip>
        <identifiers>
          <isin value="US3138AKGM50"/>
          <ticker value="FNMA"/>
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        <balance>50029.19</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49475.02</valUSD>
        <pctVal>0.0016425412</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179SB97</cusip>
        <identifiers>
          <isin value="US36179SB976"/>
          <ticker value="GNR"/>
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        <balance>100856.54</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>96523.59</valUSD>
        <pctVal>0.0032045257</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.00%</title>
        <cusip>3128M76E1</cusip>
        <identifiers>
          <isin value="US3128M76E18"/>
          <ticker value="FHLMC"/>
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        <balance>33243.13</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33565.63</valUSD>
        <pctVal>0.0011143589</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3132A9SR9</cusip>
        <identifiers>
          <isin value="US3132A9SR94"/>
          <ticker value="FHLMC"/>
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        <balance>41711.14</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39569.02</valUSD>
        <pctVal>0.0013136679</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WILLIS NORTH AMERI 3.875%</name>
        <lei>5493004KVU1HWZCP0C66</lei>
        <title>WILLIS NORTH AMERI 3.875%</title>
        <cusip>970648AK7</cusip>
        <identifiers>
          <isin value="US970648AK73"/>
          <ticker value="WTW"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>149395.34</valUSD>
        <pctVal>0.0049598362</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>RTX CORP 3.75%</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
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        <cusip>913017CJ6</cusip>
        <identifiers>
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          <ticker value="RTX"/>
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        <valUSD>576066.26</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PNC FINL. SERVS. GRP. F2V</name>
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        <cusip>693475CF0</cusip>
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        <curCd>USD</curCd>
        <valUSD>589464.99</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JAPAN INTERNATIONAL 4.00%</name>
        <lei>254900XEIG78M2AJB031</lei>
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          <ticker value="JICA"/>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-23</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PFIZER INC 4.125%</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
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          <ticker value="PFE"/>
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        <balance>262000</balance>
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        <curCd>USD</curCd>
        <valUSD>215194.45</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137FBU79</cusip>
        <identifiers>
          <isin value="US3137FBU791"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>142059.63</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-25</maturityDt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DR HORTON INC 5.50%</name>
        <lei>529900ZIUEYVSB8QDD25</lei>
        <title>DR HORTON INC 5.50%</title>
        <cusip>23331ABU2</cusip>
        <identifiers>
          <isin value="US23331ABU25"/>
          <ticker value="DHI"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>204246.4</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>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>BARCLAYS PLC F2F</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC F2F</title>
        <cusip>06738ECZ6</cusip>
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          <isin value="US06738ECZ60"/>
          <ticker value="BACR"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>305632.48</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-25</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APPLE INC 4.15%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC 4.15%</title>
        <cusip>037833EU0</cusip>
        <identifiers>
          <isin value="US037833EU05"/>
          <ticker value="AAPL"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>398802.62</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TEXAS INSTRUMENTS I 5.05%</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>TEXAS INSTRUMENTS I 5.05%</title>
        <cusip>882926AA6</cusip>
        <identifiers>
          <isin value="US882926AA67"/>
          <ticker value="TXN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>267690.13</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>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONAGRA BRANDS INC 4.85%</name>
        <lei>54930035UDEIH090K650</lei>
        <title>CONAGRA BRANDS INC 4.85%</title>
        <cusip>205887CC4</cusip>
        <identifiers>
          <isin value="US205887CC49"/>
          <ticker value="CAG"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100168.03</valUSD>
        <pctVal>0.0033255189</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONSTELLATION BRAND 5.25%</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>CONSTELLATION BRAND 5.25%</title>
        <cusip>21036PBD9</cusip>
        <identifiers>
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          <ticker value="STZ"/>
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        <balance>167000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153507.16</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>3140QAA75</cusip>
        <identifiers>
          <isin value="US3140QAA754"/>
          <ticker value="FNMA"/>
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        <balance>207050.58</balance>
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        <curCd>USD</curCd>
        <valUSD>201933.2</valUSD>
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        <debtSec>
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      <invstOrSec>
        <name>DOW CHEM. CO/THE 5.55%</name>
        <lei>ZQUIP1CSZO8LXRBSOU78</lei>
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        <valUSD>177406.04</valUSD>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3132DV4W2</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133KYT90</cusip>
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          <isin value="US3133KYT901"/>
          <ticker value="FHLMC"/>
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        <valUSD>364401.02</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TELUS CORP 3.40%</name>
        <lei>894500TX134IMF6NW757</lei>
        <title>TELUS CORP 3.40%</title>
        <cusip>87971MBW2</cusip>
        <identifiers>
          <isin value="US87971MBW29"/>
          <ticker value="TCN"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>364105.99</valUSD>
        <pctVal>0.0120881018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CBOE GLOBAL MARKETS 3.00%</name>
        <lei>529900RLNSGA90UPEH54</lei>
        <title>CBOE GLOBAL MARKETS 3.00%</title>
        <cusip>12503MAD0</cusip>
        <identifiers>
          <isin value="US12503MAD02"/>
          <ticker value="CBOE"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>91097.56</valUSD>
        <pctVal>0.0030243847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>APTARGROUP INC 3.60%</name>
        <lei>VNPEQDQFAA7IY1T2PX43</lei>
        <title>APTARGROUP INC 3.60%</title>
        <cusip>038336AA1</cusip>
        <identifiers>
          <isin value="US038336AA11"/>
          <ticker value="ATR"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>138873.55</valUSD>
        <pctVal>0.0046105191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KIMCO REALTY CORP 4.25%</name>
        <lei>549300EA7I6T15IBYS12</lei>
        <title>KIMCO REALTY CORP 4.25%</title>
        <cusip>49446RAM1</cusip>
        <identifiers>
          <isin value="US49446RAM16"/>
          <ticker value="KIM"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>167743.65</valUSD>
        <pctVal>0.0055689892</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>APPLE INC 2.95%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC 2.95%</title>
        <cusip>037833DQ0</cusip>
        <identifiers>
          <isin value="US037833DQ02"/>
          <ticker value="AAPL"/>
        </identifiers>
        <balance>1400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>911875.66</valUSD>
        <pctVal>0.0302737283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="97096.060000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PLAINS ALL AMERICAN 3.55%</name>
        <lei>N/A</lei>
        <title>PLAINS ALL AMERICAN 3.55%</title>
        <cusip>72650RBM3</cusip>
        <identifiers>
          <isin value="US72650RBM34"/>
          <ticker value="PAA"/>
        </identifiers>
        <balance>554000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>533312.32</valUSD>
        <pctVal>0.0177056511</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PNC FINL. SERVS. GRP. F2F</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC FINL. SERVS. GRP. F2F</title>
        <cusip>693475BR5</cusip>
        <identifiers>
          <isin value="US693475BR55"/>
          <ticker value="PNC"/>
        </identifiers>
        <balance>420000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>427621.23</valUSD>
        <pctVal>0.0141967699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.582000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>3140XLLY2</cusip>
        <identifiers>
          <isin value="US3140XLLY24"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>215650.75</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>219028.36</valUSD>
        <pctVal>0.0072716110</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</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>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>31409DY80</cusip>
        <identifiers>
          <isin value="US31409DY802"/>
          <ticker value="FNMA"/>
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        <balance>47586.4</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49794.46</valUSD>
        <pctVal>0.0016531464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31371NV69</cusip>
        <identifiers>
          <isin value="US31371NV692"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>1479.54</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1473.43</valUSD>
        <pctVal>0.0000489170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</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>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179SJS7</cusip>
        <identifiers>
          <isin value="US36179SJS77"/>
          <ticker value="GNR"/>
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        <balance>189297.87</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>170076.37</valUSD>
        <pctVal>0.0056464341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179SUV7</cusip>
        <identifiers>
          <isin value="US36179SUV77"/>
          <ticker value="GNR"/>
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        <balance>299153.14</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>275415.97</valUSD>
        <pctVal>0.0091436460</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>3140Q9E25</cusip>
        <identifiers>
          <isin value="US3140Q9E256"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>40790.57</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39749.53</valUSD>
        <pctVal>0.0013196607</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRANSCANADA PIPELIN 5.10%</name>
        <lei>5BV01I6231JPDAPMGH09</lei>
        <title>TRANSCANADA PIPELIN 5.10%</title>
        <cusip>89352HAZ2</cusip>
        <identifiers>
          <isin value="US89352HAZ29"/>
          <ticker value="TRPCN"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>374650.54</valUSD>
        <pctVal>0.0124381746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BENCHMARK 2020-B16 2.732%</name>
        <lei>N/A</lei>
        <title>BENCHMARK 2020-B16 2.732%</title>
        <cusip>08161NAF4</cusip>
        <identifiers>
          <isin value="US08161NAF42"/>
          <ticker value="BMARK"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>185520.7</valUSD>
        <pctVal>0.0061591767</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.732000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AEP TRANSMISSION CO 3.65%</name>
        <lei>549300X123Z1I0LA3Y84</lei>
        <title>AEP TRANSMISSION CO 3.65%</title>
        <cusip>00115AAM1</cusip>
        <identifiers>
          <isin value="US00115AAM18"/>
          <ticker value="AEP"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>73701.52</valUSD>
        <pctVal>0.0024468465</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.650000000000</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>CORNING INC 5.35%</name>
        <lei>549300X2937PB0CJ7I56</lei>
        <title>CORNING INC 5.35%</title>
        <cusip>219350BK0</cusip>
        <identifiers>
          <isin value="US219350BK07"/>
          <ticker value="GLW"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>285824.13</valUSD>
        <pctVal>0.0094891907</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.350000000000</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>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>36179UH62</cusip>
        <identifiers>
          <isin value="US36179UH623"/>
          <ticker value="GNR"/>
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        <balance>200621.71</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201373.38</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-12-20</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HERSHEY CO/THE 4.95%</name>
        <lei>21X2CX66SU2BR6QTAD08</lei>
        <title>HERSHEY CO/THE 4.95%</title>
        <cusip>427866BM9</cusip>
        <identifiers>
          <isin value="US427866BM92"/>
          <ticker value="HSY"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202755.45</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KREDITANSTALT FUER 3.875%</name>
        <lei>549300GDPG70E3MBBU98</lei>
        <title>KREDITANSTALT FUER 3.875%</title>
        <cusip>500769KJ2</cusip>
        <identifiers>
          <isin value="US500769KJ23"/>
          <ticker value="KFW"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>995077.68</valUSD>
        <pctVal>0.0330359858</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KROGER CO/THE 3.95%</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>KROGER CO/THE 3.95%</title>
        <cusip>501044DN8</cusip>
        <identifiers>
          <isin value="US501044DN88"/>
          <ticker value="KR"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>150712.01</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JD.COM INC 3.375%</name>
        <lei>549300HVTWB0GJZ16V92</lei>
        <title>JD.COM INC 3.375%</title>
        <cusip>47215PAE6</cusip>
        <identifiers>
          <isin value="US47215PAE60"/>
          <ticker value="JD"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>289768.2</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.375000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MDC HLDGS. INC 2.50%</name>
        <lei>5299005FV4VNV75R8R35</lei>
        <title>MDC HLDGS. INC 2.50%</title>
        <cusip>552676AU2</cusip>
        <identifiers>
          <isin value="US552676AU23"/>
          <ticker value="MDC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>176387.07</valUSD>
        <pctVal>0.0058559456</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WEYERHAEUSER CO 4.00%</name>
        <lei>08IRJODWFYBI7QWRGS31</lei>
        <title>WEYERHAEUSER CO 4.00%</title>
        <cusip>962166CB8</cusip>
        <identifiers>
          <isin value="US962166CB89"/>
          <ticker value="WY"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>151470</valUSD>
        <pctVal>0.0050287137</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31417GAV8</cusip>
        <identifiers>
          <isin value="US31417GAV86"/>
          <ticker value="FNMA"/>
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        <balance>311338.94</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>279104.33</valUSD>
        <pctVal>0.0092660974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3138Y3MM0</cusip>
        <identifiers>
          <isin value="US3138Y3MM07"/>
          <ticker value="FNMA"/>
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        <balance>166454.8</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>154748.1</valUSD>
        <pctVal>0.0051375447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3138X0ZX9</cusip>
        <identifiers>
          <isin value="US3138X0ZX95"/>
          <ticker value="FNMA"/>
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        <balance>31188.15</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30665.08</valUSD>
        <pctVal>0.0010180624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418CBF0</cusip>
        <identifiers>
          <isin value="US31418CBF05"/>
          <ticker value="FNMA"/>
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        <balance>158449.1</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>141586.51</valUSD>
        <pctVal>0.0047005877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179SLR6</cusip>
        <identifiers>
          <isin value="US36179SLR66"/>
          <ticker value="GNR"/>
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        <balance>430273.01</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>387175.86</valUSD>
        <pctVal>0.0128540078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179SNU7</cusip>
        <identifiers>
          <isin value="US36179SNU77"/>
          <ticker value="GNR"/>
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        <balance>288683.17</balance>
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        <curCd>USD</curCd>
        <valUSD>259767.64</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MASTERCARD INC 3.80%</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>MASTERCARD INC 3.80%</title>
        <cusip>57636QAH7</cusip>
        <identifiers>
          <isin value="US57636QAH74"/>
          <ticker value="MA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>391676.01</valUSD>
        <pctVal>0.0130034101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-11-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC 4.50%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 4.50%</title>
        <cusip>00206RDJ8</cusip>
        <identifiers>
          <isin value="US00206RDJ86"/>
          <ticker value="T"/>
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        <balance>574000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>459977.04</valUSD>
        <pctVal>0.0152709635</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY CAP. I VAR</name>
        <lei>N/A</lei>
        <title>MORGAN STANLEY CAP. I VAR</title>
        <cusip>61691QAE8</cusip>
        <identifiers>
          <isin value="US61691QAE89"/>
          <ticker value="MSC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198011.54</valUSD>
        <pctVal>0.0065738651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418C5H3</cusip>
        <identifiers>
          <isin value="US31418C5H34"/>
          <ticker value="FNMA"/>
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        <balance>93565.77</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89879.26</valUSD>
        <pctVal>0.0029839379</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HONEYWELL INTERNATI 2.70%</name>
        <lei>ISRPG12PN4EIEOEMW547</lei>
        <title>HONEYWELL INTERNATI 2.70%</title>
        <cusip>438516BU9</cusip>
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        <curCd>USD</curCd>
        <valUSD>129672.02</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31418DJR4</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>106189.08</valUSD>
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      </invstOrSec>
      <invstOrSec>
        <name>MEXICO GOVERNMENT I 3.25%</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEXICO GOVERNMENT I 3.25%</title>
        <cusip>91087BAH3</cusip>
        <identifiers>
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        <balance>742100</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3132D55S7</cusip>
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        <curCd>USD</curCd>
        <valUSD>361053.81</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36179YAQ7</cusip>
        <identifiers>
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        <curCd>USD</curCd>
        <valUSD>788468.16</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>36179YAS3</cusip>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>1065052.39</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3132D6CP3</cusip>
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          <isin value="US3132D6CP34"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>150652.58</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>3140QRVZ3</cusip>
        <identifiers>
          <isin value="US3140QRVZ32"/>
          <ticker value="FNMA"/>
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        <balance>74461.5</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>73691.86</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WESTPAC BANKING CORP F2V</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>WESTPAC BANKING CORP F2V</title>
        <cusip>961214EP4</cusip>
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          <isin value="US961214EP44"/>
          <ticker value="WSTP"/>
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        <balance>170000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153111.48</valUSD>
        <pctVal>0.0050832099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <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>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>3140XLVH8</cusip>
        <identifiers>
          <isin value="US3140XLVH80"/>
          <ticker value="FNMA"/>
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        <balance>394461.88</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>398188.63</valUSD>
        <pctVal>0.0132196252</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <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>
        <name>BAT CAP. CORP 5.834%</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT CAP. CORP 5.834%</title>
        <cusip>05526DBY0</cusip>
        <identifiers>
          <isin value="US05526DBY04"/>
          <ticker value="BATSLN"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>416668.87</valUSD>
        <pctVal>0.0138331581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
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          <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>VISA INC 2.70%</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>VISA INC 2.70%</title>
        <cusip>92826CAK8</cusip>
        <identifiers>
          <isin value="US92826CAK80"/>
          <ticker value="V"/>
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        <balance>760000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>576228.39</valUSD>
        <pctVal>0.0191304391</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>ISRAEL GOV. INTL. 3.875%</name>
        <lei>213800T8ZHTFZIBYPE21</lei>
        <title>ISRAEL GOV. INTL. 3.875%</title>
        <cusip>46513JB42</cusip>
        <identifiers>
          <isin value="US46513JB429"/>
          <ticker value="ISRAEL"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>434510.82</valUSD>
        <pctVal>0.0144255002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
        <cusip>3132D6EU0</cusip>
        <identifiers>
          <isin value="US3132D6EU01"/>
          <ticker value="FHLMC"/>
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        <balance>53669.36</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>53953.69</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BAT CAP. CORP 7.081%</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT CAP. CORP 7.081%</title>
        <cusip>054989AD0</cusip>
        <identifiers>
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          <ticker value="BATSLN"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>112842.71</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>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC OF POLAND 5.50%</name>
        <lei>259400R9L8QEP0TPXS31</lei>
        <title>REPUBLIC OF POLAND 5.50%</title>
        <cusip>731011AZ5</cusip>
        <identifiers>
          <isin value="US731011AZ55"/>
          <ticker value="POLAND"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189307.11</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>M&amp;T BANK CORP F2F</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T BANK CORP F2F</title>
        <cusip>55261FAT1</cusip>
        <identifiers>
          <isin value="US55261FAT12"/>
          <ticker value="MTB"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104358.15</valUSD>
        <pctVal>0.0034646284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MCDONALD S CORP 5.45%</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>MCDONALD S CORP 5.45%</title>
        <cusip>58013MFW9</cusip>
        <identifiers>
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          <ticker value="MCD"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>288421.89</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-08-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.450000000000</annualizedRt>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.50%</title>
        <cusip>3133KQWW2</cusip>
        <identifiers>
          <isin value="US3133KQWW22"/>
          <ticker value="FHLMC"/>
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        <balance>424984.97</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>432149.12</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2053-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
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        <cusip>46647PBP0</cusip>
        <identifiers>
          <isin value="US46647PBP09"/>
          <ticker value="JPM"/>
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        <balance>545000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>508854.48</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.956000000000</annualizedRt>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3140QDZJ6</cusip>
        <identifiers>
          <isin value="US3140QDZJ67"/>
          <ticker value="FNMA"/>
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        <balance>471500.48</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>398227.53</valUSD>
        <pctVal>0.0132209166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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      <invstOrSec>
        <name>CITIGROUP INC F2V</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC F2V</title>
        <cusip>172967PN5</cusip>
        <identifiers>
          <isin value="US172967PN53"/>
          <ticker value="C"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2024899.16</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.592000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF NEW YORK MELL F2F</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>BANK OF NEW YORK MELL F2F</title>
        <cusip>06406RCA3</cusip>
        <identifiers>
          <isin value="US06406RCA32"/>
          <ticker value="BNY"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>506744.97</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.225000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>31418DRS3</cusip>
        <identifiers>
          <isin value="US31418DRS35"/>
          <ticker value="FNMA"/>
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        <balance>672340.84</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>567999.3</valUSD>
        <pctVal>0.0188572382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CI FINL. CORP 4.10%</name>
        <lei>549300M9W7JJQSVCEM78</lei>
        <title>CI FINL. CORP 4.10%</title>
        <cusip>125491AP5</cusip>
        <identifiers>
          <isin value="US125491AP51"/>
          <ticker value="CIXCN"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>67302.2</valUSD>
        <pctVal>0.0022343929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PDY9</cusip>
        <identifiers>
          <isin value="US46647PDY97"/>
          <ticker value="JPM"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1070297.73</valUSD>
        <pctVal>0.0355332466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.254000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>3140XL3N6</cusip>
        <identifiers>
          <isin value="US3140XL3N63"/>
          <ticker value="FNMA"/>
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        <balance>144656.07</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146921.66</valUSD>
        <pctVal>0.0048777115</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CARDINAL HEALTH INC 5.35%</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
        <title>CARDINAL HEALTH INC 5.35%</title>
        <cusip>14149YBS6</cusip>
        <identifiers>
          <isin value="US14149YBS63"/>
          <ticker value="CAH"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202355.35</valUSD>
        <pctVal>0.0067180770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VERIZON MASTER TRUS 4.62%</name>
        <lei>5493007MUBNP1GFMEB89</lei>
        <title>VERIZON MASTER TRUS 4.62%</title>
        <cusip>92348KDM2</cusip>
        <identifiers>
          <isin value="US92348KDM27"/>
          <ticker value="VZMT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100374.05</valUSD>
        <pctVal>0.0033323586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.620000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JOHN DEERE OWNER TS 4.23%</name>
        <lei>N/A</lei>
        <title>JOHN DEERE OWNER TS 4.23%</title>
        <cusip>47800DAD6</cusip>
        <identifiers>
          <isin value="US47800DAD66"/>
          <ticker value="JDOT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99876.11</valUSD>
        <pctVal>0.0033158273</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.230000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PUBLIC SERV. ENT. G 4.90%</name>
        <lei>PUSS41EMO3E6XXNV3U28</lei>
        <title>PUBLIC SERV. ENT. G 4.90%</title>
        <cusip>744573BA3</cusip>
        <identifiers>
          <isin value="US744573BA31"/>
          <ticker value="PEG"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>705570.8</valUSD>
        <pctVal>0.0234245300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONOCOPHILLIPS CO 5.50%</name>
        <lei>6VJJ5GQWIRDQ06DUXG89</lei>
        <title>CONOCOPHILLIPS CO 5.50%</title>
        <cusip>20826FBM7</cusip>
        <identifiers>
          <isin value="US20826FBM77"/>
          <ticker value="COP"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>191669.08</valUSD>
        <pctVal>0.0063632992</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31418FE94</cusip>
        <identifiers>
          <isin value="US31418FE941"/>
          <ticker value="FNMA"/>
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        <balance>189853.22</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>193064.59</valUSD>
        <pctVal>0.0064096293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOYOTA AUTO RECEIVA 3.84%</name>
        <lei>N/A</lei>
        <title>TOYOTA AUTO RECEIVA 3.84%</title>
        <cusip>89231GAD0</cusip>
        <identifiers>
          <isin value="US89231GAD07"/>
          <ticker value="TAOT"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>148874.22</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PIEDMONT OPERATING 5.625%</name>
        <lei>549300WKGDPAS39FBD10</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WILLIAMS COS INC/TH 4.90%</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 6.00%</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JBS USA HLDG. LUX S 7.25%</name>
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        <curCd>USD</curCd>
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        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
        <valUSD>31894.96</valUSD>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3138E2G41</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>182298.57</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>VERIZON COMMS. INC 5.00%</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMS. INC 5.00%</title>
        <cusip>92343VHG2</cusip>
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          <ticker value="VZ"/>
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        <curCd>USD</curCd>
        <valUSD>1950596.42</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <name>AMAZON.COM INC 5.45%</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON.COM INC 5.45%</title>
        <cusip>023135CW4</cusip>
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        <curCd>USD</curCd>
        <valUSD>945495.61</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WF CARD ISSUANCE TR 4.34%</name>
        <lei>N/A</lei>
        <title>WF CARD ISSUANCE TR 4.34%</title>
        <cusip>92970QAJ4</cusip>
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          <isin value="US92970QAJ40"/>
          <ticker value="WFCIT"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>100030.96</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>PROVINCE OF BRITISH 4.80%</name>
        <lei>54930058TO7MEKUHWL16</lei>
        <title>PROVINCE OF BRITISH 4.80%</title>
        <cusip>110709AQ5</cusip>
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          <isin value="US110709AQ50"/>
          <ticker value="BRCOL"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-11</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>JEFFERIES FINL. GRP 6.20%</name>
        <lei>549300HOF34RGOJ5YL07</lei>
        <title>JEFFERIES FINL. GRP 6.20%</title>
        <cusip>47233WEJ4</cusip>
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          <ticker value="JEF"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <name>DIAMONDBACK ENERGY 5.90%</name>
        <lei>549300R22LSX6OHWEN64</lei>
        <title>DIAMONDBACK ENERGY 5.90%</title>
        <cusip>25278XBB4</cusip>
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          <ticker value="FANG"/>
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        <curCd>USD</curCd>
        <valUSD>97545.91</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>COCA-COLA CO/THE 5.00%</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
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        <cusip>191216DR8</cusip>
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          <ticker value="KO"/>
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        <curCd>USD</curCd>
        <valUSD>511843.08</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>BROOKFIELD FIN. IN 5.675%</name>
        <lei>549300XH8D8K6OYWGD17</lei>
        <title>BROOKFIELD FIN. IN 5.675%</title>
        <cusip>11271LAM4</cusip>
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        <curCd>USD</curCd>
        <valUSD>304913.7</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>VERIZON MASTER TRUS 4.17%</name>
        <lei>5493007MUBNP1GFMEB89</lei>
        <title>VERIZON MASTER TRUS 4.17%</title>
        <cusip>92348KDE0</cusip>
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          <ticker value="VZMT"/>
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        <curCd>USD</curCd>
        <valUSD>99871.98</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>CADENCE DESIGN SYS. 4.30%</name>
        <lei>GCT7RXJOGLXPV0NXZY22</lei>
        <title>CADENCE DESIGN SYS. 4.30%</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MITSUBISHI UFJ FINL. F2V</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>MITSUBISHI UFJ FINL. F2V</title>
        <cusip>606822DS0</cusip>
        <identifiers>
          <isin value="US606822DS05"/>
          <ticker value="MUFG"/>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK OF NOVA SCOTIA/T F2F</name>
        <lei>L3I9ZG2KFGXZ61BMYR72</lei>
        <title>BANK OF NOVA SCOTIA/T F2F</title>
        <cusip>06418GAY3</cusip>
        <identifiers>
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          <ticker value="BNS"/>
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        <curCd>USD</curCd>
        <valUSD>592608.53</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
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        <identifiers>
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        <curCd>USD</curCd>
        <valUSD>880924.49</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179RBX6</cusip>
        <identifiers>
          <isin value="US36179RBX61"/>
          <ticker value="GNR"/>
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        <balance>92487.89</balance>
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        <curCd>USD</curCd>
        <valUSD>85482.32</valUSD>
        <pctVal>0.0028379621</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>WELLS FARGO &amp; CO F2F</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO F2F</title>
        <cusip>95000U4E0</cusip>
        <identifiers>
          <isin value="US95000U4E05"/>
          <ticker value="WFC"/>
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        <balance>1620000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1581573.57</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.960000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CNH EQUIP. TST. 202 4.14%</name>
        <lei>N/A</lei>
        <title>CNH EQUIP. TST. 202 4.14%</title>
        <cusip>189920AE1</cusip>
        <identifiers>
          <isin value="US189920AE10"/>
          <ticker value="CNH"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98674.07</valUSD>
        <pctVal>0.0032759203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.140000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DEUTSCHE BANK AG/NEW F2F</name>
        <lei>N/A</lei>
        <title>DEUTSCHE BANK AG/NEW F2F</title>
        <cusip>251526CY3</cusip>
        <identifiers>
          <isin value="US251526CY36"/>
          <ticker value="DB"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300110.06</valUSD>
        <pctVal>0.0099634751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.403000000000</annualizedRt>
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          <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>
        <name>DTE ENERGY CO 5.20%</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE ENERGY CO 5.20%</title>
        <cusip>233331BN6</cusip>
        <identifiers>
          <isin value="US233331BN66"/>
          <ticker value="DTE"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>253599.62</valUSD>
        <pctVal>0.0084193562</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</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>
        <name>HUNTINGTON BANCSHARES F2F</name>
        <lei>549300XTVCVV9I7B5T19</lei>
        <title>HUNTINGTON BANCSHARES F2F</title>
        <cusip>446150BK9</cusip>
        <identifiers>
          <isin value="US446150BK99"/>
          <ticker value="HBAN"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>393365.02</valUSD>
        <pctVal>0.0130594842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FIFTH THIRD BANCORP F2F</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>FIFTH THIRD BANCORP F2F</title>
        <cusip>316773DP2</cusip>
        <identifiers>
          <isin value="US316773DP29"/>
          <ticker value="FITB"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>392649.41</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.141000000000</annualizedRt>
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          <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>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179WJR0</cusip>
        <identifiers>
          <isin value="US36179WJR07"/>
          <ticker value="GNR"/>
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        <balance>1864619.97</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1594660.27</valUSD>
        <pctVal>0.0529417704</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INTER-AMERICAN DEV 1.125%</name>
        <lei>VKU1UKDS9E7LYLMACP54</lei>
        <title>INTER-AMERICAN DEV 1.125%</title>
        <cusip>4581X0DX3</cusip>
        <identifiers>
          <isin value="US4581X0DX34"/>
          <ticker value="IADB"/>
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        <balance>197000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>185309.37</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <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>
        <name>CMS ENERGY CORP F2V</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS ENERGY CORP F2V</title>
        <cusip>125896BY5</cusip>
        <identifiers>
          <isin value="US125896BY50"/>
          <ticker value="CMS"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>256043.5</valUSD>
        <pctVal>0.0085004916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</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>
        <name>CISCO SYSTEMS INC 4.95%</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>CISCO SYSTEMS INC 4.95%</title>
        <cusip>17275RBY7</cusip>
        <identifiers>
          <isin value="US17275RBY71"/>
          <ticker value="CSCO"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>404958.7</valUSD>
        <pctVal>0.0134443874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ORACLE CORP 4.375%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 4.375%</title>
        <cusip>68389XBG9</cusip>
        <identifiers>
          <isin value="US68389XBG97"/>
          <ticker value="ORCL"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16688.19</valUSD>
        <pctVal>0.0005540380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APPLE INC 4.375%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC 4.375%</title>
        <cusip>037833BH2</cusip>
        <identifiers>
          <isin value="US037833BH21"/>
          <ticker value="AAPL"/>
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        <balance>160000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>138540.62</valUSD>
        <pctVal>0.0045994660</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KINDER MORGAN INC 5.45%</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>KINDER MORGAN INC 5.45%</title>
        <cusip>49456BAW1</cusip>
        <identifiers>
          <isin value="US49456BAW19"/>
          <ticker value="KMI"/>
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        <curCd>USD</curCd>
        <valUSD>280407.23</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>3132D6CN8</cusip>
        <identifiers>
          <isin value="US3132D6CN85"/>
          <ticker value="FHLMC"/>
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        <balance>168511.7</balance>
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        <curCd>USD</curCd>
        <valUSD>160696.73</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-09-01</maturityDt>
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          <annualizedRt>3.500000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SHERWIN-WILLIAMS CO 4.55%</name>
        <lei>Z15BMIOX8DDH0X2OBP21</lei>
        <title>SHERWIN-WILLIAMS CO 4.55%</title>
        <cusip>824348AS5</cusip>
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          <isin value="US824348AS51"/>
          <ticker value="SHW"/>
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        <balance>30000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25689.9</valUSD>
        <pctVal>0.0008528894</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.550000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3138WHBR2</cusip>
        <identifiers>
          <isin value="US3138WHBR26"/>
          <ticker value="FNMA"/>
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        <balance>85218.44</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>81231.6</valUSD>
        <pctVal>0.0026968407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.75%</title>
        <cusip>91282CPM7</cusip>
        <identifiers>
          <isin value="US91282CPM72"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4850000</valUSD>
        <pctVal>0.1610171089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BENCHMARK 2026-V22 5.468%</name>
        <lei>N/A</lei>
        <title>BENCHMARK 2026-V22 5.468%</title>
        <cusip>081942AC8</cusip>
        <identifiers>
          <isin value="US081942AC80"/>
          <ticker value="BMARK"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510840.1</valUSD>
        <pctVal>0.0169595868</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.468000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNION PACIFIC CORP 4.50%</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>UNION PACIFIC CORP 4.50%</title>
        <cusip>907818GB8</cusip>
        <identifiers>
          <isin value="US907818GB82"/>
          <ticker value="UNP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>495593.63</valUSD>
        <pctVal>0.0164534131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="427837.940000000000"/>
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      <invstOrSec>
        <name>VODAFONE GRP. PLC 5.625%</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>VODAFONE GRP. PLC 5.625%</title>
        <cusip>92857WBY5</cusip>
        <identifiers>
          <isin value="US92857WBY57"/>
          <ticker value="VOD"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>371948</valUSD>
        <pctVal>0.0123484519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SALT RIVER PROJECT 4.839%</name>
        <lei>SHB8HO6GKXJ83RX5OV39</lei>
        <title>SALT RIVER PROJECT 4.839%</title>
        <cusip>79575DE63</cusip>
        <identifiers>
          <isin value="US79575DE631"/>
          <ticker value="SALPWR"/>
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        <balance>110000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>105840.94</valUSD>
        <pctVal>0.0035138561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.839000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.25%</title>
        <cusip>91282CCY5</cusip>
        <identifiers>
          <isin value="US91282CCY57"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4689453.1</valUSD>
        <pctVal>0.1556870475</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.625%</title>
        <cusip>912810UG1</cusip>
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          <isin value="US912810UG12"/>
          <ticker value="T"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5701640.64</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625000000000</annualizedRt>
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        <securityLending>
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        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>91282CMU2</cusip>
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          <isin value="US91282CMU26"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4968164.05</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2030-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>91282CNJ6</cusip>
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          <isin value="US91282CNJ61"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4930273.45</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2032-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PFD3</cusip>
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          <isin value="US46647PFD33"/>
          <ticker value="JPM"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>488800.67</valUSD>
        <pctVal>0.0162278909</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-10-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.255000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BRIDGECREST LENDING 4.30%</name>
        <lei>N/A</lei>
        <title>BRIDGECREST LENDING 4.30%</title>
        <cusip>10807UAD9</cusip>
        <identifiers>
          <isin value="US10807UAD90"/>
          <ticker value="BLAST"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49709.13</valUSD>
        <pctVal>0.0016503135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>91282CPJ4</cusip>
        <identifiers>
          <isin value="US91282CPJ44"/>
          <ticker value="T"/>
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        <balance>12000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11608125</valUSD>
        <pctVal>0.3853828304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SANTANDER DRIVE AUT 4.95%</name>
        <lei>N/A</lei>
        <title>SANTANDER DRIVE AUT 4.95%</title>
        <cusip>802923AF9</cusip>
        <identifiers>
          <isin value="US802923AF97"/>
          <ticker value="SDART"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49749</valUSD>
        <pctVal>0.0016516371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO COMMER 5.486%</name>
        <lei>N/A</lei>
        <title>WELLS FARGO COMMER 5.486%</title>
        <cusip>94990LAC2</cusip>
        <identifiers>
          <isin value="US94990LAC28"/>
          <ticker value="WFCM"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510690.05</valUSD>
        <pctVal>0.0169546052</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-05-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.486000000000</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>AMGEN INC 5.15%</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>AMGEN INC 5.15%</title>
        <cusip>031162DP2</cusip>
        <identifiers>
          <isin value="US031162DP23"/>
          <ticker value="AMGN"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>504764.73</valUSD>
        <pctVal>0.0167578881</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SAN DIEGO GAS &amp; ELE 5.35%</name>
        <lei>KNIRVXKVNJJ4P8OTMS63</lei>
        <title>SAN DIEGO GAS &amp; ELE 5.35%</title>
        <cusip>797440CD4</cusip>
        <identifiers>
          <isin value="US797440CD44"/>
          <ticker value="SRE"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>279675.67</valUSD>
        <pctVal>0.0092850655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.350000000000</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>FORD CREDIT FLOORPL 4.60%</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>FORD CREDIT FLOORPL 4.60%</title>
        <cusip>34528QKE3</cusip>
        <identifiers>
          <isin value="US34528QKE34"/>
          <ticker value="FORDF"/>
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        <balance>125000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>125044.56</valUSD>
        <pctVal>0.0041514049</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.600000000000</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>MERCEDES-BENZ AUTO 4.36%</name>
        <lei>N/A</lei>
        <title>MERCEDES-BENZ AUTO 4.36%</title>
        <cusip>58769MAD2</cusip>
        <identifiers>
          <isin value="US58769MAD20"/>
          <ticker value="MBART"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99812.14</valUSD>
        <pctVal>0.0033137036</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.360000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; CO F2F</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO F2F</title>
        <cusip>95000U4J9</cusip>
        <identifiers>
          <isin value="US95000U4J91"/>
          <ticker value="WFC"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>996619.31</valUSD>
        <pctVal>0.0330871670</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.844000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MARSH &amp; MCLENNAN C 5.875%</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>MARSH &amp; MCLENNAN C 5.875%</title>
        <cusip>571748AK8</cusip>
        <identifiers>
          <isin value="US571748AK86"/>
          <ticker value="MRSH"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>105892.84</valUSD>
        <pctVal>0.0035155792</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875000000000</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>INTERNATIONAL BUSIN 6.50%</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>INTERNATIONAL BUSIN 6.50%</title>
        <cusip>459200AS0</cusip>
        <identifiers>
          <isin value="US459200AS04"/>
          <ticker value="IBM"/>
        </identifiers>
        <balance>226000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>232849.67</valUSD>
        <pctVal>0.0077304702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</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>ENTERPRISE PRODS. 6.875%</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>ENTERPRISE PRODS. 6.875%</title>
        <cusip>293791AF6</cusip>
        <identifiers>
          <isin value="US293791AF64"/>
          <ticker value="EPD"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55544.68</valUSD>
        <pctVal>0.0018440503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.875000000000</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>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36202FPG5</cusip>
        <identifiers>
          <isin value="US36202FPG53"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>45743.42</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>45310.04</valUSD>
        <pctVal>0.0015042663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</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>UNIVERSITY OF VIRG 2.256%</name>
        <lei>549300H2U5XHL1CLTN62</lei>
        <title>UNIVERSITY OF VIRG 2.256%</title>
        <cusip>915217XF5</cusip>
        <identifiers>
          <isin value="US915217XF53"/>
          <ticker value="UNIHGR"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>172029.12</valUSD>
        <pctVal>0.0057112642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.256000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 1.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.375%</title>
        <cusip>912810ST6</cusip>
        <identifiers>
          <isin value="US912810ST60"/>
          <ticker value="T"/>
        </identifiers>
        <balance>5500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3555449.21</valUSD>
        <pctVal>0.1180387944</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.75%</title>
        <cusip>91282CPF2</cusip>
        <identifiers>
          <isin value="US91282CPF22"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4852148.45</valUSD>
        <pctVal>0.1610884362</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. IN F2F</title>
        <cusip>38141GD43</cusip>
        <identifiers>
          <isin value="US38141GD439"/>
          <ticker value="GS"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>485528.48</valUSD>
        <pctVal>0.0161192561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.939000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. IN F2F</title>
        <cusip>38141GD35</cusip>
        <identifiers>
          <isin value="US38141GD355"/>
          <ticker value="GS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>489018.16</valUSD>
        <pctVal>0.0162351114</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.369000000000</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>CARMAX AUTO OWNER T 3.97%</name>
        <lei>N/A</lei>
        <title>CARMAX AUTO OWNER T 3.97%</title>
        <cusip>14320HAD8</cusip>
        <identifiers>
          <isin value="US14320HAD89"/>
          <ticker value="CARMX"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99117.5</valUSD>
        <pctVal>0.0032906419</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.970000000000</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>HONDA AUTO RECEIVAB 4.05%</name>
        <lei>N/A</lei>
        <title>HONDA AUTO RECEIVAB 4.05%</title>
        <cusip>43814XAE3</cusip>
        <identifiers>
          <isin value="US43814XAE31"/>
          <ticker value="HAROT"/>
        </identifiers>
        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24757.7</valUSD>
        <pctVal>0.0008219409</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MITSUBISHI UFJ FIN 3.741%</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>HYUNDAI AUTO RECEIV 3.99%</name>
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        <title>HYUNDAI AUTO RECEIV 3.99%</title>
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          <ticker value="HART"/>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SANTANDER DRIVE AUT 4.52%</name>
        <lei>N/A</lei>
        <title>SANTANDER DRIVE AUT 4.52%</title>
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          <ticker value="SDART"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UBS COMMER. MTGE. 3.679%</name>
        <lei>N/A</lei>
        <title>UBS COMMER. MTGE. 3.679%</title>
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          <ticker value="LBUBS"/>
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        <curCd>USD</curCd>
        <valUSD>147662.43</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>COOPERAT RABOBANK U 4.16%</name>
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          <isin value="US21688ABT88"/>
          <ticker value="RABOBK"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BA CREDIT CARD TRUS 4.22%</name>
        <lei>5493006DQ60M1CRKHH19</lei>
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          <ticker value="MBNAS"/>
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        <curCd>USD</curCd>
        <valUSD>149463.86</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERICAN EXPRESS CO F2F</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>AMERICAN EXPRESS CO F2F</title>
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          <ticker value="AXP"/>
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        <curCd>USD</curCd>
        <valUSD>746599.21</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>Fixed</couponKind>
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      <invstOrSec>
        <name>OCCIDENTAL PETROLEU 6.60%</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
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          <ticker value="OXY"/>
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        <curCd>USD</curCd>
        <valUSD>106742.2</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>Fixed</couponKind>
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      <invstOrSec>
        <name>BIOGEN INC 3.15%</name>
        <lei>W8J5WZB5IY3K0NDQT671</lei>
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        <cusip>09062XAG8</cusip>
        <identifiers>
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          <ticker value="BIIB"/>
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        <curCd>USD</curCd>
        <valUSD>260447.34</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.150000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TRUIST FINL. CORP F2F</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>TRUIST FINL. CORP F2F</title>
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          <isin value="US89788MAR34"/>
          <ticker value="TFC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>813346.96</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>TOTALENERGIES CAP. 5.638%</name>
        <lei>529900QI55ZLJVCMPA71</lei>
        <title>TOTALENERGIES CAP. 5.638%</title>
        <cusip>89157XAC5</cusip>
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          <ticker value="TTEFP"/>
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        <curCd>USD</curCd>
        <valUSD>242048.71</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FREDDIE MAC GOLD PO 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 3.00%</title>
        <cusip>3128PXA97</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>2282.04</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138EQU91</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>90158.99</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NVR INC 3.00%</name>
        <lei>529900RWXR4JI3JYTV70</lei>
        <title>NVR INC 3.00%</title>
        <cusip>62944TAF2</cusip>
        <identifiers>
          <isin value="US62944TAF21"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93770.8</valUSD>
        <pctVal>0.0031131347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LAM RESEARCH CORP 1.90%</name>
        <lei>549300I4GMO6D34U1T02</lei>
        <title>LAM RESEARCH CORP 1.90%</title>
        <cusip>512807AV0</cusip>
        <identifiers>
          <isin value="US512807AV02"/>
          <ticker value="LRCX"/>
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        <name>FANNIE MAE POOL 4.00%</name>
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        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FANNIE MAE POOL 2.00%</name>
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      <invstOrSec>
        <name>STATE OF CONNECTICU 5.85%</name>
        <lei>5493007GRO6CU0IKP741</lei>
        <title>STATE OF CONNECTICU 5.85%</title>
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          <ticker value="CTS"/>
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        <curCd>USD</curCd>
        <valUSD>314982.27</valUSD>
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        <issuerCat>MUN</issuerCat>
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      <invstOrSec>
        <name>GLOBE LIFE INC 5.85%</name>
        <lei>5493001JFHKQOPP6XA71</lei>
        <title>GLOBE LIFE INC 5.85%</title>
        <cusip>37959EAC6</cusip>
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          <ticker value="GL"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CNH EQUIP. TST. 202 4.03%</name>
        <lei>N/A</lei>
        <title>CNH EQUIP. TST. 202 4.03%</title>
        <cusip>18978GAD6</cusip>
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          <isin value="US18978GAD60"/>
          <ticker value="CNH"/>
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        <balance>48760.56</balance>
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        <curCd>USD</curCd>
        <valUSD>48652.6</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 3.794%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 3.794%</title>
        <cusip>3137FL2M5</cusip>
        <identifiers>
          <isin value="US3137FL2M50"/>
          <ticker value="FHLMC"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94174.18</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <securityLending>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GHS1</cusip>
        <identifiers>
          <isin value="US06051GHS12"/>
          <ticker value="BAC"/>
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        <balance>755000</balance>
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        <curCd>USD</curCd>
        <valUSD>623203.2</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.330000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.00%</title>
        <cusip>912810RX8</cusip>
        <identifiers>
          <isin value="US912810RX81"/>
          <ticker value="T"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1484531.24</valUSD>
        <pctVal>0.0492855522</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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      <invstOrSec>
        <name>SYSCO CORP 3.25%</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>SYSCO CORP 3.25%</title>
        <cusip>871829BF3</cusip>
        <identifiers>
          <isin value="US871829BF39"/>
          <ticker value="SYY"/>
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        <balance>523000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>517146.46</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</annualizedRt>
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      <invstOrSec>
        <name>FANNIE MAE OR FREDD 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE OR FREDD 4.00%</title>
        <cusip>01F040677</cusip>
        <identifiers>
          <isin value="US01F0406771"/>
          <ticker value="FNMA"/>
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        <balance>4100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3831568.37</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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      <invstOrSec>
        <name>UNITED STATES TSY. 0.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 0.625%</title>
        <cusip>91282CAY7</cusip>
        <identifiers>
          <isin value="US91282CAY75"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4759179.7</valUSD>
        <pctVal>0.1580019291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>ALEXANDRIA REAL EST 4.85%</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>ALEXANDRIA REAL EST 4.85%</title>
        <cusip>015271AQ2</cusip>
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          <isin value="US015271AQ26"/>
          <ticker value="ARE"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>170299.84</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179USU7</cusip>
        <identifiers>
          <isin value="US36179USU78"/>
          <ticker value="GNR"/>
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        <balance>322654.28</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>305473.18</valUSD>
        <pctVal>0.0101415275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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      <invstOrSec>
        <name>PSNH FNDG. LLC 3 3.814%</name>
        <lei>N/A</lei>
        <title>PSNH FNDG. LLC 3 3.814%</title>
        <cusip>69363PAC4</cusip>
        <identifiers>
          <isin value="US69363PAC41"/>
          <ticker value="PSNH"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>97381.68</valUSD>
        <pctVal>0.0032330137</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.814000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIGROUP COMMERCI 4.412%</name>
        <lei>N/A</lei>
        <title>CITIGROUP COMMERCI 4.412%</title>
        <cusip>17327GAY0</cusip>
        <identifiers>
          <isin value="US17327GAY08"/>
          <ticker value="CGCMT"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197839</valUSD>
        <pctVal>0.0065681369</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.412000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 3.00%</title>
        <cusip>36180MXJ1</cusip>
        <identifiers>
          <isin value="US36180MXJ16"/>
          <ticker value="GNR"/>
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        <balance>122887.71</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>112827.49</valUSD>
        <pctVal>0.0037458054</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 3.50%</title>
        <cusip>3132J2WA7</cusip>
        <identifiers>
          <isin value="US3132J2WA79"/>
          <ticker value="FHLMC"/>
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        <balance>16346.95</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15889.7</valUSD>
        <pctVal>0.0005275286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VODAFONE GRP. PLC 4.25%</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>VODAFONE GRP. PLC 4.25%</title>
        <cusip>92857WBU3</cusip>
        <identifiers>
          <isin value="US92857WBU36"/>
          <ticker value="VOD"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>308042.31</valUSD>
        <pctVal>0.0102268211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL BUSIN 1.95%</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>INTERNATIONAL BUSIN 1.95%</title>
        <cusip>459200KJ9</cusip>
        <identifiers>
          <isin value="US459200KJ94"/>
          <ticker value="IBM"/>
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        <balance>796900</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>720806.79</valUSD>
        <pctVal>0.0239303558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.950000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHARTER COMMS. OPER 4.80%</name>
        <lei>N/A</lei>
        <title>CHARTER COMMS. OPER 4.80%</title>
        <cusip>161175BT0</cusip>
        <identifiers>
          <isin value="US161175BT05"/>
          <ticker value="CHTR"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>223770.97</valUSD>
        <pctVal>0.0074290628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3132DV4G7</cusip>
        <identifiers>
          <isin value="US3132DV4G77"/>
          <ticker value="FHLMC"/>
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        <balance>237349.42</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200861.17</valUSD>
        <pctVal>0.0066684711</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ADOBE INC 5.30%</name>
        <lei>FU4LY2G4933NH2E1CP29</lei>
        <title>ADOBE INC 5.30%</title>
        <cusip>00724PAK5</cusip>
        <identifiers>
          <isin value="US00724PAK57"/>
          <ticker value="ADBE"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202316.65</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2F</title>
        <cusip>61748UAE2</cusip>
        <identifiers>
          <isin value="US61748UAE29"/>
          <ticker value="MS"/>
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        <balance>2400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2427069.77</valUSD>
        <pctVal>0.0805772696</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.230000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDEX CORP 4.75%</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FEDEX CORP 4.75%</title>
        <cusip>31428XDR4</cusip>
        <identifiers>
          <isin value="US31428XDR44"/>
          <ticker value="FDX"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179609.89</valUSD>
        <pctVal>0.0059629413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SANTANDER DRIVE AUT 4.27%</name>
        <lei>N/A</lei>
        <title>SANTANDER DRIVE AUT 4.27%</title>
        <cusip>802923AD4</cusip>
        <identifiers>
          <isin value="US802923AD40"/>
          <ticker value="SDART"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49668.62</valUSD>
        <pctVal>0.0016489686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.270000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418DLQ3</cusip>
        <identifiers>
          <isin value="US31418DLQ33"/>
          <ticker value="FNMA"/>
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        <balance>73058.91</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>67354.63</valUSD>
        <pctVal>0.0022361336</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIF 2.253%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 2.253%</title>
        <cusip>3137FREH0</cusip>
        <identifiers>
          <isin value="US3137FREH09"/>
          <ticker value="FHLMC"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>232635.8</valUSD>
        <pctVal>0.0077233699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.253000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORD CREDIT FLOORPL 4.42%</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>FORD CREDIT FLOORPL 4.42%</title>
        <cusip>34528QJZ8</cusip>
        <identifiers>
          <isin value="US34528QJZ81"/>
          <ticker value="FORDF"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99749.49</valUSD>
        <pctVal>0.0033116236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.420000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SPACE EXPLORATION T 6.60%</name>
        <lei>549300B9WLO96RQCXP87</lei>
        <title>SPACE EXPLORATION T 6.60%</title>
        <cusip>84615QAG8</cusip>
        <identifiers>
          <isin value="US84615QAG82"/>
          <ticker value="SPCX"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>486296.73</valUSD>
        <pctVal>0.0161447616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIF 1.341%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 1.341%</title>
        <cusip>3137FV5N8</cusip>
        <identifiers>
          <isin value="US3137FV5N89"/>
          <ticker value="FHLMC"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>445409.55</valUSD>
        <pctVal>0.0147873316</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.341000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>N/A</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>31339SQA6</cusip>
        <identifiers>
          <isin value="US31339SQA68"/>
          <ticker value="FHLB"/>
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        <balance>289838.83</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>258000.14</valUSD>
        <pctVal>0.0085654509</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3138MQCX9</cusip>
        <identifiers>
          <isin value="US3138MQCX93"/>
          <ticker value="FNMA"/>
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        <balance>12041.55</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11878.68</valUSD>
        <pctVal>0.0003943651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ATMOS ENERGY CORP 4.125%</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
        <title>ATMOS ENERGY CORP 4.125%</title>
        <cusip>049560AQ8</cusip>
        <identifiers>
          <isin value="US049560AQ82"/>
          <ticker value="ATO"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>239577.42</valUSD>
        <pctVal>0.0079538275</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 1.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.375%</title>
        <cusip>912810SP4</cusip>
        <identifiers>
          <isin value="US912810SP49"/>
          <ticker value="T"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2943281.28</valUSD>
        <pctVal>0.0977151840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.375000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOYOTA AUTO RECEIVA 3.94%</name>
        <lei>N/A</lei>
        <title>TOYOTA AUTO RECEIVA 3.94%</title>
        <cusip>89231GAE8</cusip>
        <identifiers>
          <isin value="US89231GAE89"/>
          <ticker value="TAOT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98579.46</valUSD>
        <pctVal>0.0032727793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.940000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GILEAD SCIENCES INC 2.60%</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>GILEAD SCIENCES INC 2.60%</title>
        <cusip>375558BS1</cusip>
        <identifiers>
          <isin value="US375558BS17"/>
          <ticker value="GILD"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>72645.16</valUSD>
        <pctVal>0.0024117760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 1.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 1.50%</title>
        <cusip>31418DW40</cusip>
        <identifiers>
          <isin value="US31418DW401"/>
          <ticker value="FNMA"/>
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        <balance>431094.55</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>363223.03</valUSD>
        <pctVal>0.0120587881</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>QUEST DIAGNOSTICS I 4.20%</name>
        <lei>8MCWUBXQ0WE04KMXBX50</lei>
        <title>QUEST DIAGNOSTICS I 4.20%</title>
        <cusip>74834LBA7</cusip>
        <identifiers>
          <isin value="US74834LBA70"/>
          <ticker value="DGX"/>
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        <balance>59000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>58360.65</valUSD>
        <pctVal>0.0019375388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ONEOK INC 4.35%</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK INC 4.35%</title>
        <cusip>682680AW3</cusip>
        <identifiers>
          <isin value="US682680AW38"/>
          <ticker value="OKE"/>
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        <balance>12000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11895.7</valUSD>
        <pctVal>0.0003949301</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.625%</title>
        <cusip>912810UQ9</cusip>
        <identifiers>
          <isin value="US912810UQ93"/>
          <ticker value="T"/>
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        <balance>4120000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3957131.25</valUSD>
        <pctVal>0.1313743987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CARVANA AUTO RECEIV 4.25%</name>
        <lei>N/A</lei>
        <title>CARVANA AUTO RECEIV 4.25%</title>
        <cusip>14689AAD8</cusip>
        <identifiers>
          <isin value="US14689AAD81"/>
          <ticker value="CRVNA"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49461.94</valUSD>
        <pctVal>0.0016421069</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHERWIN-WILLIAMS CO 2.95%</name>
        <lei>Z15BMIOX8DDH0X2OBP21</lei>
        <title>SHERWIN-WILLIAMS CO 2.95%</title>
        <cusip>824348BJ4</cusip>
        <identifiers>
          <isin value="US824348BJ44"/>
          <ticker value="SHW"/>
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        <balance>167000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>159069.56</valUSD>
        <pctVal>0.0052810146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BLACKROCK INC 1.90%</name>
        <lei>549300LRIF3NWCU26A80</lei>
        <title>BLACKROCK INC 1.90%</title>
        <cusip>09247XAR2</cusip>
        <identifiers>
          <isin value="US09247XAR26"/>
          <ticker value="BLK"/>
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        <balance>720000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>642260.76</valUSD>
        <pctVal>0.0213226744</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.375%</title>
        <cusip>91282CPL9</cusip>
        <identifiers>
          <isin value="US91282CPL99"/>
          <ticker value="T"/>
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        <balance>7000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6924804.67</valUSD>
        <pctVal>0.2298993872</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENTERGY TEXAS INC 5.20%</name>
        <lei>LWXX58X12AJXISQ28573</lei>
        <title>ENTERGY TEXAS INC 5.20%</title>
        <cusip>29365TAR5</cusip>
        <identifiers>
          <isin value="US29365TAR59"/>
          <ticker value="ETR"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>496713.54</valUSD>
        <pctVal>0.0164905934</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 1.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 1.50%</title>
        <cusip>31418DYG1</cusip>
        <identifiers>
          <isin value="US31418DYG14"/>
          <ticker value="FNMA"/>
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        <balance>258056.21</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>217101.69</valUSD>
        <pctVal>0.0072076467</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140XBPG9</cusip>
        <identifiers>
          <isin value="US3140XBPG99"/>
          <ticker value="FNMA"/>
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        <balance>671796.57</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>549922.17</valUSD>
        <pctVal>0.0182570882</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GJB6</cusip>
        <identifiers>
          <isin value="US06051GJB68"/>
          <ticker value="BAC"/>
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        <balance>2800</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2583.7</valUSD>
        <pctVal>0.0000857773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.592000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BOEING CO/THE 5.705%</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO/THE 5.705%</title>
        <cusip>097023CV5</cusip>
        <identifiers>
          <isin value="US097023CV59"/>
          <ticker value="BA"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203369.16</valUSD>
        <pctVal>0.0067517349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>FANNIE MAE POOL 4.00%</name>
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        <name>FANNIE MAE POOL 5.00%</name>
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      <invstOrSec>
        <name>PEPSICO INC 1.625%</name>
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        <name>COCA-COLA CO/THE 1.65%</name>
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        <name>UNITED STATES TSY. 2.25%</name>
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        <name>UNITED STATES TSY. 0.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>RTX CORP 6.40%</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
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        <name>GINNIE MAE II POOL 6.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>BOEING CO/THE 5.15%</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
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        <name>XCEL ENERGY INC 6.50%</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
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        <name>CAPITAL ONE FINL. COR F2F</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
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        <name>AMERICAN EXPRESS CR 4.56%</name>
        <lei>549300Y4SA5G3GIJTP18</lei>
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        <name>FREDDIE MAC POOL 6.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>IBM INTL. CAP. PTE 4.90%</name>
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        <name>META PLATFORMS INC 4.55%</name>
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        <name>QUANTA SERVS. INC 5.25%</name>
        <lei>SHVRXXEACT60MMH07S24</lei>
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      <invstOrSec>
        <name>AETNA INC 6.625%</name>
        <lei>549300QKBENKLBXQ8968</lei>
        <title>AETNA INC 6.625%</title>
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          <ticker value="AET"/>
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        <curCd>USD</curCd>
        <valUSD>43566.51</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BURLINGTON NORTHERN 6.20%</name>
        <lei>N/A</lei>
        <title>BURLINGTON NORTHERN 6.20%</title>
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        <curCd>USD</curCd>
        <valUSD>496256.53</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
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          <ticker value="T"/>
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        <curCd>USD</curCd>
        <valUSD>4972656.25</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31418FQ91</cusip>
        <identifiers>
          <isin value="US31418FQ911"/>
          <ticker value="FNMA"/>
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        <balance>1806892.28</balance>
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        <curCd>USD</curCd>
        <valUSD>1813740.89</valUSD>
        <pctVal>0.0602151164</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DEVON ENERGY CORP 5.75%</name>
        <lei>54930042348RKR3ZPN35</lei>
        <title>DEVON ENERGY CORP 5.75%</title>
        <cusip>25179MBH5</cusip>
        <identifiers>
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          <ticker value="DVN"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>481881.37</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 4.456%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 4.456%</title>
        <cusip>3137HH5X5</cusip>
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          <ticker value="FHMS"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99715.59</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 5.00%</title>
        <cusip>3620A9S44</cusip>
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          <isin value="US3620A9S444"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>35446.44</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>INTEL CORP 4.80%</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>INTEL CORP 4.80%</title>
        <cusip>458140AK6</cusip>
        <identifiers>
          <isin value="US458140AK64"/>
          <ticker value="INTC"/>
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        <balance>80000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>71544.24</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SHELL FIN. US INC 4.125%</name>
        <lei>N/A</lei>
        <title>SHELL FIN. US INC 4.125%</title>
        <cusip>822905AC9</cusip>
        <identifiers>
          <isin value="US822905AC90"/>
          <ticker value="RDSALN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>282644.31</valUSD>
        <pctVal>0.0093836226</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-11</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>SHELL FIN. US INC 4.375%</name>
        <lei>N/A</lei>
        <title>SHELL FIN. US INC 4.375%</title>
        <cusip>822905AA3</cusip>
        <identifiers>
          <isin value="US822905AA35"/>
          <ticker value="RDSALN"/>
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        <balance>390000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>331829.23</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MARATHON PETROLEUM 6.50%</name>
        <lei>3BNYRYQHD39K4LCKQF12</lei>
        <title>MARATHON PETROLEUM 6.50%</title>
        <cusip>56585AAF9</cusip>
        <identifiers>
          <isin value="US56585AAF93"/>
          <ticker value="MPC"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>321636.39</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>ORACLE CORP 5.375%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 5.375%</title>
        <cusip>68389XAM7</cusip>
        <identifiers>
          <isin value="US68389XAM74"/>
          <ticker value="ORCL"/>
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        <balance>590000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>519743.56</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.375000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 6.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.50%</title>
        <cusip>3140Y7E61</cusip>
        <identifiers>
          <isin value="US3140Y7E615"/>
          <ticker value="FNMA"/>
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        <balance>1827666.83</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1921156.9</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>BRIDGECREST LENDING 5.41%</name>
        <lei>N/A</lei>
        <title>BRIDGECREST LENDING 5.41%</title>
        <cusip>10807UAF4</cusip>
        <identifiers>
          <isin value="US10807UAF49"/>
          <ticker value="BLAST"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50067.99</valUSD>
        <pctVal>0.0016622274</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.410000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ROYAL BANK OF CANADA F2F</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>ROYAL BANK OF CANADA F2F</title>
        <cusip>78017FZS5</cusip>
        <identifiers>
          <isin value="US78017FZS54"/>
          <ticker value="RY"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1000065.25</valUSD>
        <pctVal>0.0332015702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-10-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.522000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2F</title>
        <cusip>61748UAF9</cusip>
        <identifiers>
          <isin value="US61748UAF93"/>
          <ticker value="MS"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>306324.12</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.587000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DUKE ENERGY CAROLI 4.898%</name>
        <lei>N/A</lei>
        <title>DUKE ENERGY CAROLI 4.898%</title>
        <cusip>26443YAA3</cusip>
        <identifiers>
          <isin value="US26443YAA38"/>
          <ticker value="DUK"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98098.91</valUSD>
        <pctVal>0.0032568253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.898000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHARLES SCHWAB CORP/T F2F</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>CHARLES SCHWAB CORP/T F2F</title>
        <cusip>808513CK9</cusip>
        <identifiers>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>NISOURCE INC 4.80%</name>
        <lei>549300D8GOWWH0SJB189</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
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          <ticker value="JPM"/>
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        <curCd>USD</curCd>
        <valUSD>994803.05</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MONDELEZ INTL. INC 4.25%</name>
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          <ticker value="MDLZ"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>597472.82</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>179014.84</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ASCENSION HEALTH 2.532%</name>
        <lei>549300IMOY6ECI21DH68</lei>
        <title>ASCENSION HEALTH 2.532%</title>
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          <isin value="US04352EAA38"/>
          <ticker value="ASCHEA"/>
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        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>703149.48</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.00%</title>
        <cusip>36202ET33</cusip>
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          <isin value="US36202ET333"/>
          <ticker value="GNR"/>
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        <balance>20770.72</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21836.56</valUSD>
        <pctVal>0.0007249608</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AMERICAN MUNICIPAL 6.449%</name>
        <lei>EARKGGZJJEMVD66XQ486</lei>
        <title>AMERICAN MUNICIPAL 6.449%</title>
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          <isin value="US02765UCY82"/>
          <ticker value="AMEPWR"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>208478.9</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DALLAS INDEPENDENT 6.45%</name>
        <lei>N/A</lei>
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          <ticker value="DALSCD"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203736</valUSD>
        <pctVal>0.0067639138</pctVal>
        <payoffProfile>Long</payoffProfile>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>UNITED STATES TSY. 2.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.75%</title>
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          <ticker value="T"/>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3133KYTD1</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>50126.91</valUSD>
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          <couponKind>Fixed</couponKind>
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        <name>BIOGEN INC 2.25%</name>
        <lei>W8J5WZB5IY3K0NDQT671</lei>
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          <ticker value="BIIB"/>
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        <curCd>USD</curCd>
        <valUSD>36513.6</valUSD>
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      <invstOrSec>
        <name>EXELON CORP F2V</name>
        <lei>3SOUA6IRML7435B56G12</lei>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>513196</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>REINSURANCE GRP. OF A F2V</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
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          <isin value="US759351AT60"/>
          <ticker value="RGA"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>252759</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>53876.05</valUSD>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3128PWVZ8</cusip>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179RBW8</cusip>
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          <isin value="US36179RBW88"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>206882.4</valUSD>
        <pctVal>0.0068683724</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140Q7DQ7</cusip>
        <identifiers>
          <isin value="US3140Q7DQ77"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>176221.53</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179M4K3</cusip>
        <identifiers>
          <isin value="US36179M4K32"/>
          <ticker value="GNR"/>
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        <balance>7984.99</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7897.07</valUSD>
        <pctVal>0.0002621780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3140HJK67</cusip>
        <identifiers>
          <isin value="US3140HJK670"/>
          <ticker value="FNMA"/>
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        <balance>123244.06</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>116979.45</valUSD>
        <pctVal>0.0038836480</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOEING CO/THE 5.805%</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO/THE 5.805%</title>
        <cusip>097023CW3</cusip>
        <identifiers>
          <isin value="US097023CW33"/>
          <ticker value="BA"/>
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        <balance>1060000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1047243.62</valUSD>
        <pctVal>0.0347678639</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.805000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>CSX CORP 6.00%</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX CORP 6.00%</title>
        <cusip>126408GH0</cusip>
        <identifiers>
          <isin value="US126408GH06"/>
          <ticker value="CSX"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>107395.14</valUSD>
        <pctVal>0.0035654546</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WYETH LLC 5.95%</name>
        <lei>549300Q9GR3WRH4N4836</lei>
        <title>WYETH LLC 5.95%</title>
        <cusip>983024AN0</cusip>
        <identifiers>
          <isin value="US983024AN02"/>
          <ticker value="PFE"/>
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        <balance>625000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>663576.34</valUSD>
        <pctVal>0.0220303389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHUBB CORP/THE 6.00%</name>
        <lei>N/A</lei>
        <title>CHUBB CORP/THE 6.00%</title>
        <cusip>171232AQ4</cusip>
        <identifiers>
          <isin value="US171232AQ41"/>
          <ticker value="CB"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>53378.58</valUSD>
        <pctVal>0.0017721370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ELEVANCE HEALTH IN 6.375%</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>ELEVANCE HEALTH IN 6.375%</title>
        <cusip>94973VAN7</cusip>
        <identifiers>
          <isin value="US94973VAN73"/>
          <ticker value="ELV"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>538736.5</valUSD>
        <pctVal>0.0178857307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KIMBERLY-CLARK COR 6.625%</name>
        <lei>MP3J6QPYPGN75NVW2S34</lei>
        <title>KIMBERLY-CLARK COR 6.625%</title>
        <cusip>494368BC6</cusip>
        <identifiers>
          <isin value="US494368BC63"/>
          <ticker value="KMB"/>
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        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>396906.06</valUSD>
        <pctVal>0.0131770446</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PAYPAL HOLDINGS INC 2.85%</name>
        <lei>5493005X2GO78EFZ3E94</lei>
        <title>PAYPAL HOLDINGS INC 2.85%</title>
        <cusip>70450YAE3</cusip>
        <identifiers>
          <isin value="US70450YAE32"/>
          <ticker value="PYPL"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>283173.56</valUSD>
        <pctVal>0.0094011934</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SABRA HEALTH CARE L 3.90%</name>
        <lei>N/A</lei>
        <title>SABRA HEALTH CARE L 3.90%</title>
        <cusip>78572XAG6</cusip>
        <identifiers>
          <isin value="US78572XAG60"/>
          <ticker value="SBRA"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145482.89</valUSD>
        <pctVal>0.0048299452</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138W9AU4</cusip>
        <identifiers>
          <isin value="US3138W9AU41"/>
          <ticker value="FNMA"/>
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        <balance>157281.31</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>141999.44</valUSD>
        <pctVal>0.0047142968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36179UPB2</cusip>
        <identifiers>
          <isin value="US36179UPB25"/>
          <ticker value="GNR"/>
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        <balance>157992.54</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>154267.88</valUSD>
        <pctVal>0.0051216017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DH EUROPE FINANCE I 2.60%</name>
        <lei>222100KDGL314CKTZ511</lei>
        <title>DH EUROPE FINANCE I 2.60%</title>
        <cusip>23291KAH8</cusip>
        <identifiers>
          <isin value="US23291KAH86"/>
          <ticker value="DHR"/>
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        <balance>1100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1031395.23</valUSD>
        <pctVal>0.0342417068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3140K4SJ0</cusip>
        <identifiers>
          <isin value="US3140K4SJ00"/>
          <ticker value="FNMA"/>
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        <balance>341016.46</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>301370.48</valUSD>
        <pctVal>0.0100053203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ARIZONA PUBLIC SERV 4.25%</name>
        <lei>YG6VT0TPHRH4TFVAQV64</lei>
        <title>ARIZONA PUBLIC SERV 4.25%</title>
        <cusip>040555CY8</cusip>
        <identifiers>
          <isin value="US040555CY86"/>
          <ticker value="PNW"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>157481.16</valUSD>
        <pctVal>0.0052282806</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FLORIDA POWER &amp; LIG 3.99%</name>
        <lei>A89MY1K3YLIGJMYWVX50</lei>
        <title>FLORIDA POWER &amp; LIG 3.99%</title>
        <cusip>341081FU6</cusip>
        <identifiers>
          <isin value="US341081FU66"/>
          <ticker value="NEE"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>156584.45</valUSD>
        <pctVal>0.0051985104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.990000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BENCHMARK 2020-B18 1.925%</name>
        <lei>N/A</lei>
        <title>BENCHMARK 2020-B18 1.925%</title>
        <cusip>08163AAE3</cusip>
        <identifiers>
          <isin value="US08163AAE38"/>
          <ticker value="BMARK"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>442134.4</valUSD>
        <pctVal>0.0146785985</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.925000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY CAP 2.041%</name>
        <lei>N/A</lei>
        <title>MORGAN STANLEY CAP 2.041%</title>
        <cusip>61692BBP4</cusip>
        <identifiers>
          <isin value="US61692BBP40"/>
          <ticker value="MSC"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>450769.2</valUSD>
        <pctVal>0.0149652687</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.041000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PFIZER INC 3.45%</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>PFIZER INC 3.45%</title>
        <cusip>717081ET6</cusip>
        <identifiers>
          <isin value="US717081ET61"/>
          <ticker value="PFE"/>
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        <balance>204000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199251.44</valUSD>
        <pctVal>0.0066150290</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EXXON MOBIL CORP 2.995%</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>EXXON MOBIL CORP 2.995%</title>
        <cusip>30231GAY8</cusip>
        <identifiers>
          <isin value="US30231GAY89"/>
          <ticker value="XOM"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>158160.31</valUSD>
        <pctVal>0.0052508280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.995000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ASTRAZENECA PLC 1.375%</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>ASTRAZENECA PLC 1.375%</title>
        <cusip>046353AW8</cusip>
        <identifiers>
          <isin value="US046353AW81"/>
          <ticker value="AZN"/>
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        <balance>731000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>645389.85</valUSD>
        <pctVal>0.0214265583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BLOCK FINL. LLC 3.875%</name>
        <lei>N/A</lei>
        <title>BLOCK FINL. LLC 3.875%</title>
        <cusip>093662AH7</cusip>
        <identifiers>
          <isin value="US093662AH70"/>
          <ticker value="HRB"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>190109.2</valUSD>
        <pctVal>0.0063115121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="6756.290000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN EXPRESS CO F2F</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>AMERICAN EXPRESS CO F2F</title>
        <cusip>025816ED7</cusip>
        <identifiers>
          <isin value="US025816ED77"/>
          <ticker value="AXP"/>
        </identifiers>
        <balance>870000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>872240.69</valUSD>
        <pctVal>0.0289578710</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.731000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PROLOGIS LP 5.25%</name>
        <lei>GL16H1DHB0QSHP25F723</lei>
        <title>PROLOGIS LP 5.25%</title>
        <cusip>74340XCR0</cusip>
        <identifiers>
          <isin value="US74340XCR08"/>
          <ticker value="PLD"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202044.85</valUSD>
        <pctVal>0.0067077686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AIR PRODUCTS AND CH 2.80%</name>
        <lei>7QEON6Y1RL5XR3R1W237</lei>
        <title>AIR PRODUCTS AND CH 2.80%</title>
        <cusip>009158BA3</cusip>
        <identifiers>
          <isin value="US009158BA32"/>
          <ticker value="APD"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189454.2</valUSD>
        <pctVal>0.0062897665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PACIFICORP 6.25%</name>
        <lei>SGY07Y7FNYBNLM6Z1M11</lei>
        <title>PACIFICORP 6.25%</title>
        <cusip>695114CG1</cusip>
        <identifiers>
          <isin value="US695114CG18"/>
          <ticker value="BRKHEC"/>
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        <balance>275000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>288253.35</valUSD>
        <pctVal>0.0095698394</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3140X45C6</cusip>
        <identifiers>
          <isin value="US3140X45C68"/>
          <ticker value="FNMA"/>
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        <balance>192645.39</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>171427.03</valUSD>
        <pctVal>0.0056912752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CONAGRA BRANDS INC 1.375%</name>
        <lei>54930035UDEIH090K650</lei>
        <title>CONAGRA BRANDS INC 1.375%</title>
        <cusip>205887CF7</cusip>
        <identifiers>
          <isin value="US205887CF79"/>
          <ticker value="CAG"/>
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        <balance>85000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>81410.4</valUSD>
        <pctVal>0.0027027768</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LINCOLN NATL. CORP 6.30%</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
        <title>LINCOLN NATL. CORP 6.30%</title>
        <cusip>534187AW9</cusip>
        <identifiers>
          <isin value="US534187AW96"/>
          <ticker value="LNC"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>105137.86</valUSD>
        <pctVal>0.0034905143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE I POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 6.00%</title>
        <cusip>36290UHQ2</cusip>
        <identifiers>
          <isin value="US36290UHQ22"/>
          <ticker value="GNR"/>
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        <balance>1905.86</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1977.2</valUSD>
        <pctVal>0.0000656419</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL NATL. MTGE. 0.75%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FEDERAL NATL. MTGE. 0.75%</title>
        <cusip>3135G05Y5</cusip>
        <identifiers>
          <isin value="US3135G05Y50"/>
          <ticker value="FNMA"/>
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        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>335514.65</valUSD>
        <pctVal>0.0111388864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3132CWPT5</cusip>
        <identifiers>
          <isin value="US3132CWPT52"/>
          <ticker value="FHLMC"/>
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        <balance>432141.31</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>394884.78</valUSD>
        <pctVal>0.0131099393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>VIRGINIA ELEC. AND 6.35%</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WELLS FARGO BANK NA 6.60%</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <curCd>USD</curCd>
        <valUSD>5941210.89</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
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        <curCd>USD</curCd>
        <valUSD>362840.49</valUSD>
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      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31412MAQ1</cusip>
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        <curCd>USD</curCd>
        <valUSD>1894.86</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
        <valUSD>199.8</valUSD>
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        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3132DPE79</cusip>
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          <ticker value="FHLMC"/>
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        <balance>277610.43</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>277279.84</valUSD>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.50%</title>
        <cusip>91282CGH8</cusip>
        <identifiers>
          <isin value="US91282CGH88"/>
          <ticker value="T"/>
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        <balance>10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9896875</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DOMINION ENERGY SOU 6.05%</name>
        <lei>3QRVFYR22IUIEOORTK28</lei>
        <title>DOMINION ENERGY SOU 6.05%</title>
        <cusip>837004CB4</cusip>
        <identifiers>
          <isin value="US837004CB48"/>
          <ticker value="D"/>
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        <balance>265000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>281724.59</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CANADIAN NATURAL RE 6.75%</name>
        <lei>549300T15RIMIKZC5Q38</lei>
        <title>CANADIAN NATURAL RE 6.75%</title>
        <cusip>136385AP6</cusip>
        <identifiers>
          <isin value="US136385AP65"/>
          <ticker value="CNQCN"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>219040.21</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137HB3D4</cusip>
        <identifiers>
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          <ticker value="FHMS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>505339.4</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137HB2X1</cusip>
        <identifiers>
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          <ticker value="FHMS"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>101634.12</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>EXTRA SPACE STORAGE 5.90%</name>
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        <curCd>USD</curCd>
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        <name>ASIAN INFRA. INV. 4.125%</name>
        <lei>25490065OSV2524LCR32</lei>
        <title>ASIAN INFRA. INV. 4.125%</title>
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          <ticker value="AIIB"/>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SOUTHERN CALIFORNIA 5.95%</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
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        <cusip>842400FH1</cusip>
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          <ticker value="EIX"/>
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        <balance>710000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNITEDHEALTH GRP. 6.875%</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GRP. 6.875%</title>
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          <ticker value="UNH"/>
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        <curCd>USD</curCd>
        <valUSD>193873.71</valUSD>
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      <invstOrSec>
        <name>TEXAS INSTRUMENTS I 5.15%</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>TEXAS INSTRUMENTS I 5.15%</title>
        <cusip>882508CJ1</cusip>
        <identifiers>
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          <ticker value="TXN"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>188004.59</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-02-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BECTON DICKINSON &amp; 5.11%</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
        <title>BECTON DICKINSON &amp; 5.11%</title>
        <cusip>075887CS6</cusip>
        <identifiers>
          <isin value="US075887CS63"/>
          <ticker value="BDX"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>401399.53</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.110000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.50%</title>
        <cusip>31413YRZ6</cusip>
        <identifiers>
          <isin value="US31413YRZ69"/>
          <ticker value="FNMA"/>
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        <balance>2076.49</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2190.66</valUSD>
        <pctVal>0.0000727286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIFTH THIRD BANCORP 8.25%</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
        <title>FIFTH THIRD BANCORP 8.25%</title>
        <cusip>316773CH1</cusip>
        <identifiers>
          <isin value="US316773CH12"/>
          <ticker value="FITB"/>
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        <balance>275000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>335376.19</valUSD>
        <pctVal>0.0111342896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PPL CAP. FNDG. INC 5.25%</name>
        <lei>549300MROK5WY0D2NU17</lei>
        <title>PPL CAP. FNDG. INC 5.25%</title>
        <cusip>69352PAT0</cusip>
        <identifiers>
          <isin value="US69352PAT03"/>
          <ticker value="PPL"/>
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        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>351516.1</valUSD>
        <pctVal>0.0116701250</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KROGER CO/THE 5.50%</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>KROGER CO/THE 5.50%</title>
        <cusip>501044DW8</cusip>
        <identifiers>
          <isin value="US501044DW87"/>
          <ticker value="KR"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>187592.24</valUSD>
        <pctVal>0.0062279505</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31410G4H3</cusip>
        <identifiers>
          <isin value="US31410G4H33"/>
          <ticker value="FNMA"/>
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        <balance>43038.37</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>44281.13</valUSD>
        <pctVal>0.0014701071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENERGY TRANSFER LP 7.50%</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP 7.50%</title>
        <cusip>29273RAJ8</cusip>
        <identifiers>
          <isin value="US29273RAJ86"/>
          <ticker value="ET"/>
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        <balance>310000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>357624.55</valUSD>
        <pctVal>0.0118729219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.00%</title>
        <cusip>36202EWE5</cusip>
        <identifiers>
          <isin value="US36202EWE57"/>
          <ticker value="GNR"/>
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        <balance>7594.84</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7961.2</valUSD>
        <pctVal>0.0002643071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31410KW75</cusip>
        <identifiers>
          <isin value="US31410KW759"/>
          <ticker value="FNMA"/>
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        <balance>31662.24</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31929.35</valUSD>
        <pctVal>0.0010600354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SHELL FIN. US INC 4.55%</name>
        <lei>N/A</lei>
        <title>SHELL FIN. US INC 4.55%</title>
        <cusip>822905AD7</cusip>
        <identifiers>
          <isin value="US822905AD73"/>
          <ticker value="RDSALN"/>
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        <balance>60000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>52802.3</valUSD>
        <pctVal>0.0017530049</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARRIOTT INTL. INC/ 5.10%</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>MARRIOTT INTL. INC/ 5.10%</title>
        <cusip>571903BT9</cusip>
        <identifiers>
          <isin value="US571903BT95"/>
          <ticker value="MAR"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>303311.36</valUSD>
        <pctVal>0.0100697563</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TRANSATLANTIC HLDGS 8.00%</name>
        <lei>549300DCJE6AYX159479</lei>
        <title>TRANSATLANTIC HLDGS 8.00%</title>
        <cusip>893521AB0</cusip>
        <identifiers>
          <isin value="US893521AB05"/>
          <ticker value="Y"/>
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        <balance>70000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85103.84</valUSD>
        <pctVal>0.0028253968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>36202FDY9</cusip>
        <identifiers>
          <isin value="US36202FDY97"/>
          <ticker value="GNR"/>
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        <balance>64043.59</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65894.6</valUSD>
        <pctVal>0.0021876614</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TARGA RES. CORP 6.125%</name>
        <lei>5493003QENHHS261UR94</lei>
        <title>TARGA RES. CORP 6.125%</title>
        <cusip>87612GAN1</cusip>
        <identifiers>
          <isin value="US87612GAN16"/>
          <ticker value="TRGP"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199587.58</valUSD>
        <pctVal>0.0066261887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.75%</title>
        <cusip>912810PT9</cusip>
        <identifiers>
          <isin value="US912810PT97"/>
          <ticker value="T"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>513964.85</valUSD>
        <pctVal>0.0170633266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.00%</title>
        <cusip>3128KLNV5</cusip>
        <identifiers>
          <isin value="US3128KLNV59"/>
          <ticker value="FHLMC"/>
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        <balance>13478.95</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13368.14</valUSD>
        <pctVal>0.0004438143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
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        <lei>254900HROIFWPRGM1V77</lei>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140X5R39</cusip>
        <identifiers>
          <isin value="US3140X5R398"/>
          <ticker value="FNMA"/>
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        <balance>490309.12</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>449714.32</valUSD>
        <pctVal>0.0149302473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEXTRON INC 2.45%</name>
        <lei>3PPKBHUG1HD6BO7RNR87</lei>
        <title>TEXTRON INC 2.45%</title>
        <cusip>883203CC3</cusip>
        <identifiers>
          <isin value="US883203CC32"/>
          <ticker value="TXT"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>225654.94</valUSD>
        <pctVal>0.0074916095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC SERVICE ELEC 2.05%</name>
        <lei>549300RUHPVD434XUK18</lei>
        <title>PUBLIC SERVICE ELEC 2.05%</title>
        <cusip>74456QCE4</cusip>
        <identifiers>
          <isin value="US74456QCE44"/>
          <ticker value="PEG"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>160045</valUSD>
        <pctVal>0.0053133986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>254900C5LP6DN9OP9V83</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3132DMN35</cusip>
        <identifiers>
          <isin value="US3132DMN351"/>
          <ticker value="FHLMC"/>
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        <balance>1008430.71</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>859792.04</valUSD>
        <pctVal>0.0285445832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROCKEFELLER FOUNDA 2.492%</name>
        <lei>549300JU3NX0IK5I9038</lei>
        <title>ROCKEFELLER FOUNDA 2.492%</title>
        <cusip>77310VAA2</cusip>
        <identifiers>
          <isin value="US77310VAA26"/>
          <ticker value="ROCKFD"/>
        </identifiers>
        <balance>710000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>430334.44</valUSD>
        <pctVal>0.0142868469</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.492000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140QFAS8</cusip>
        <identifiers>
          <isin value="US3140QFAS89"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>2100077.24</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1704445.2</valUSD>
        <pctVal>0.0565865646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LYB INTL. FIN. III 3.375%</name>
        <lei>984500A51LA0B8EB4053</lei>
        <title>LYB INTL. FIN. III 3.375%</title>
        <cusip>50249AAH6</cusip>
        <identifiers>
          <isin value="US50249AAH68"/>
          <ticker value="LYB"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>366285.64</valUSD>
        <pctVal>0.0121604649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MARRIOTT INTL. INC/ 2.85%</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>MARRIOTT INTL. INC/ 2.85%</title>
        <cusip>571903BG7</cusip>
        <identifiers>
          <isin value="US571903BG74"/>
          <ticker value="MAR"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>459484.28</valUSD>
        <pctVal>0.0152546042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>W R BERKLEY CORP 3.55%</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>W R BERKLEY CORP 3.55%</title>
        <cusip>084423AV4</cusip>
        <identifiers>
          <isin value="US084423AV48"/>
          <ticker value="WRB"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>140729.95</valUSD>
        <pctVal>0.0046721505</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140XHHR1</cusip>
        <identifiers>
          <isin value="US3140XHHR17"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>757272.46</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>611161.86</valUSD>
        <pctVal>0.0202902094</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
        <cusip>3132DPQK7</cusip>
        <identifiers>
          <isin value="US3132DPQK74"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>546581.24</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>542152.31</valUSD>
        <pctVal>0.0179991335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GLH0</cusip>
        <identifiers>
          <isin value="US06051GLH01"/>
          <ticker value="BAC"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1013324.51</valUSD>
        <pctVal>0.0336417697</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.288000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
        <cusip>3133C9KV4</cusip>
        <identifiers>
          <isin value="US3133C9KV41"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>975884.8</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>965686.44</valUSD>
        <pctVal>0.0320602142</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALEXANDRIA REAL EST 5.25%</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>ALEXANDRIA REAL EST 5.25%</title>
        <cusip>015271BC2</cusip>
        <identifiers>
          <isin value="US015271BC21"/>
          <ticker value="ARE"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>391146.71</valUSD>
        <pctVal>0.0129858376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COCA-COLA CO/THE 4.65%</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>COCA-COLA CO/THE 4.65%</title>
        <cusip>191216DY3</cusip>
        <identifiers>
          <isin value="US191216DY38"/>
          <ticker value="KO"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500265.74</valUSD>
        <pctVal>0.0166085244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="449038.200000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL RURAL UTIL 5.00%</name>
        <lei>4NYF266XZC35SCTGX023</lei>
        <title>NATIONAL RURAL UTIL 5.00%</title>
        <cusip>637432PC3</cusip>
        <identifiers>
          <isin value="US637432PC30"/>
          <ticker value="NRUC"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>600033.49</valUSD>
        <pctVal>0.0199207542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31418FCG0</cusip>
        <identifiers>
          <isin value="US31418FCG00"/>
          <ticker value="FNMA"/>
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        <balance>1809386.42</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1819281.18</valUSD>
        <pctVal>0.0603990507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EUROPEAN INV. BANK 3.75%</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>EUROPEAN INV. BANK 3.75%</title>
        <cusip>298785KF2</cusip>
        <identifiers>
          <isin value="US298785KF28"/>
          <ticker value="EIB"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>493008.19</valUSD>
        <pctVal>0.0163675780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3132A5H57</cusip>
        <identifiers>
          <isin value="US3132A5H578"/>
          <ticker value="FHLB"/>
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        <balance>210677.59</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200795.94</valUSD>
        <pctVal>0.0066663055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>31329JQ75</cusip>
        <identifiers>
          <isin value="US31329JQ755"/>
          <ticker value="FHLMC"/>
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        <balance>109571.94</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>101866.7</valUSD>
        <pctVal>0.0033819137</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHENIERE ENERGY INC 5.65%</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
        <title>CHENIERE ENERGY INC 5.65%</title>
        <cusip>16411RAN9</cusip>
        <identifiers>
          <isin value="US16411RAN98"/>
          <ticker value="LNG"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>256565.2</valUSD>
        <pctVal>0.0085178117</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SHELL FIN. US INC 4.00%</name>
        <lei>N/A</lei>
        <title>SHELL FIN. US INC 4.00%</title>
        <cusip>822905AE5</cusip>
        <identifiers>
          <isin value="US822905AE56"/>
          <ticker value="RDSALN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>239511.42</valUSD>
        <pctVal>0.0079516364</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ISRAEL GOV. INTL. 5.625%</name>
        <lei>213800T8ZHTFZIBYPE21</lei>
        <title>ISRAEL GOV. INTL. 5.625%</title>
        <cusip>46514Y8B6</cusip>
        <identifiers>
          <isin value="US46514Y8B63"/>
          <ticker value="ISRAEL"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510551.7</valUSD>
        <pctVal>0.0169500121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.375%</title>
        <cusip>912810PW2</cusip>
        <identifiers>
          <isin value="US912810PW27"/>
          <ticker value="T"/>
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        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>743583.98</valUSD>
        <pctVal>0.0246865449</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE I POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 5.50%</title>
        <cusip>36296TVK6</cusip>
        <identifiers>
          <isin value="US36296TVK68"/>
          <ticker value="GNR"/>
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        <balance>13507.44</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13932.83</valUSD>
        <pctVal>0.0004625617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORTH TEXAS TOLLWA 6.718%</name>
        <lei>PQGZGRE0F2WPMYQQ1B78</lei>
        <title>NORTH TEXAS TOLLWA 6.718%</title>
        <cusip>66285WFB7</cusip>
        <identifiers>
          <isin value="US66285WFB72"/>
          <ticker value="NRTTRN"/>
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        <balance>125000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>136818.68</valUSD>
        <pctVal>0.0045422986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.718000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BOARD OF REGENTS O 4.794%</name>
        <lei>TEHUYFNKZR6XVWLGEU86</lei>
        <title>BOARD OF REGENTS O 4.794%</title>
        <cusip>9151375R0</cusip>
        <identifiers>
          <isin value="US9151375R06"/>
          <ticker value="UNIHGR"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95292.35</valUSD>
        <pctVal>0.0031636492</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.794000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.125%</title>
        <cusip>912810QU5</cusip>
        <identifiers>
          <isin value="US912810QU51"/>
          <ticker value="T"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>813046.88</valUSD>
        <pctVal>0.0269926718</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 2.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.75%</title>
        <cusip>912810QY7</cusip>
        <identifiers>
          <isin value="US912810QY73"/>
          <ticker value="T"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1519843.76</valUSD>
        <pctVal>0.0504579069</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.00%</title>
        <cusip>912810RM2</cusip>
        <identifiers>
          <isin value="US912810RM27"/>
          <ticker value="T"/>
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        <balance>2600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1976914.06</valUSD>
        <pctVal>0.0656323684</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALLY FINL. INC F2F</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>ALLY FINL. INC F2F</title>
        <cusip>02005NBZ2</cusip>
        <identifiers>
          <isin value="US02005NBZ24"/>
          <ticker value="ALLY"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>405510.82</valUSD>
        <pctVal>0.0134627175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.737000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ATHENE HLDG. LTD 6.625%</name>
        <lei>549300H316CT32FQXI76</lei>
        <title>ATHENE HLDG. LTD 6.625%</title>
        <cusip>04686JAL5</cusip>
        <identifiers>
          <isin value="US04686JAL52"/>
          <ticker value="ATH"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>97240.03</valUSD>
        <pctVal>0.0032283110</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179TD51</cusip>
        <identifiers>
          <isin value="US36179TD517"/>
          <ticker value="GNR"/>
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        <balance>27229.09</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26249.06</valUSD>
        <pctVal>0.0008714531</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>3622A2ZJ4</cusip>
        <identifiers>
          <isin value="US3622A2ZJ43"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>HCA INC 5.25%</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
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        <curCd>USD</curCd>
        <valUSD>44923.83</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MIZUHO FINL. GRP. INC F2F</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
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        <curCd>USD</curCd>
        <valUSD>1141683.09</valUSD>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>COMCAST CORP 3.45%</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP 3.45%</title>
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          <isin value="US20030NCZ24"/>
          <ticker value="CMCSA"/>
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        <curCd>USD</curCd>
        <valUSD>192939.24</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>3132CWBR4</cusip>
        <identifiers>
          <isin value="US3132CWBR43"/>
          <ticker value="FHLMC"/>
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        <balance>293081.03</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>280038.31</valUSD>
        <pctVal>0.0092971050</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>31418DJQ6</cusip>
        <identifiers>
          <isin value="US31418DJQ60"/>
          <ticker value="FNMA"/>
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        <balance>130509.81</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>110426.22</valUSD>
        <pctVal>0.0036660847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>31418DRV6</cusip>
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          <isin value="US31418DRV63"/>
          <ticker value="FNMA"/>
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        <balance>559579.24</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>523861.39</valUSD>
        <pctVal>0.0173918859</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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      <invstOrSec>
        <name>ALPHABET INC 2.25%</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC 2.25%</title>
        <cusip>02079KAG2</cusip>
        <identifiers>
          <isin value="US02079KAG22"/>
          <ticker value="GOOGL"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200002.68</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.250000000000</annualizedRt>
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        <name>FREDDIE MAC MULTIF 1.716%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 1.716%</title>
        <cusip>3137FWHF0</cusip>
        <identifiers>
          <isin value="US3137FWHF01"/>
          <ticker value="FHLMC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>158618.86</valUSD>
        <pctVal>0.0052660516</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.716000000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LOWE S COS INC 3.00%</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>LOWE S COS INC 3.00%</title>
        <cusip>548661DZ7</cusip>
        <identifiers>
          <isin value="US548661DZ79"/>
          <ticker value="LOW"/>
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        <balance>540000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>341871.59</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140X8HL4</cusip>
        <identifiers>
          <isin value="US3140X8HL40"/>
          <ticker value="FNMA"/>
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        <balance>797792.71</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>729006.18</valUSD>
        <pctVal>0.0242025706</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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      <invstOrSec>
        <name>ELEVANCE HEALTH INC 3.60%</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>ELEVANCE HEALTH INC 3.60%</title>
        <cusip>036752AS2</cusip>
        <identifiers>
          <isin value="US036752AS28"/>
          <ticker value="ELV"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70831.64</valUSD>
        <pctVal>0.0023515682</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.600000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>HORMEL FOODS CORP 1.70%</name>
        <lei>MSD54751OJP1FS2ND863</lei>
        <title>HORMEL FOODS CORP 1.70%</title>
        <cusip>440452AH3</cusip>
        <identifiers>
          <isin value="US440452AH36"/>
          <ticker value="HRL"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>475029.64</valUSD>
        <pctVal>0.0157707009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.700000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EASTERN GAS TRANSMI 4.60%</name>
        <lei>H2VQBNB3NSKRM5QWBI71</lei>
        <title>EASTERN GAS TRANSMI 4.60%</title>
        <cusip>276480AD2</cusip>
        <identifiers>
          <isin value="US276480AD26"/>
          <ticker value="BRKHEC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>170609.99</valUSD>
        <pctVal>0.0056641500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.600000000000</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>
        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.50%</title>
        <cusip>91282CGJ4</cusip>
        <identifiers>
          <isin value="US91282CGJ45"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4887695.3</valUSD>
        <pctVal>0.1622685704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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        <name>NORFOLK SOUTHERN CO 5.95%</name>
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        <name>THERMO FISHER SCIEN 5.00%</name>
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        <name>MORGAN STANLEY F2V</name>
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        <name>FANNIE MAE POOL 5.50%</name>
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        <name>GINNIE MAE II POOL 3.50%</name>
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        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
        <valUSD>31281.25</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
        <cusip>3132DPBY3</cusip>
        <identifiers>
          <isin value="US3132DPBY34"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>443040.4</valUSD>
        <pctVal>0.0147086772</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>31418BXB7</cusip>
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          <isin value="US31418BXB79"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>66594.21</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ARCHER-DANIELS-MIDL 3.75%</name>
        <lei>549300LO13MQ9HYSTR83</lei>
        <title>ARCHER-DANIELS-MIDL 3.75%</title>
        <cusip>039483BM3</cusip>
        <identifiers>
          <isin value="US039483BM31"/>
          <ticker value="ADM"/>
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        <balance>295000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>225230.42</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CITIGROUP COMMER. 3.465%</name>
        <lei>N/A</lei>
        <title>CITIGROUP COMMER. 3.465%</title>
        <cusip>17326DAD4</cusip>
        <identifiers>
          <isin value="US17326DAD49"/>
          <ticker value="CGCMT"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244312.55</valUSD>
        <pctVal>0.0081110310</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 3.50%</title>
        <cusip>36183W5Y4</cusip>
        <identifiers>
          <isin value="US36183W5Y44"/>
          <ticker value="GNR"/>
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        <balance>52436.7</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47935.21</valUSD>
        <pctVal>0.0015914204</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3133A9JK2</cusip>
        <identifiers>
          <isin value="US3133A9JK25"/>
          <ticker value="FR"/>
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        <balance>101194.41</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85760.41</valUSD>
        <pctVal>0.0028471945</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>REPUBLIC OF ITALY 2.875%</name>
        <lei>815600DE60799F5A9309</lei>
        <title>REPUBLIC OF ITALY 2.875%</title>
        <cusip>465410BY3</cusip>
        <identifiers>
          <isin value="US465410BY32"/>
          <ticker value="ITALY"/>
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        <balance>1200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1143535.2</valUSD>
        <pctVal>0.0379646870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALPHABET INC 2.05%</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC 2.05%</title>
        <cusip>02079KAF4</cusip>
        <identifiers>
          <isin value="US02079KAF49"/>
          <ticker value="GOOGL"/>
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        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40049.78</valUSD>
        <pctVal>0.0013296288</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133AGJK6</cusip>
        <identifiers>
          <isin value="US3133AGJK68"/>
          <ticker value="FHLMC"/>
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        <balance>397176.7</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>324198.35</valUSD>
        <pctVal>0.0107631920</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138X2QS6</cusip>
        <identifiers>
          <isin value="US3138X2QS67"/>
          <ticker value="FNMA"/>
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        <balance>65024.05</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62068.71</valUSD>
        <pctVal>0.0020606442</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>31418CYK4</cusip>
        <identifiers>
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          <ticker value="FNMA"/>
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        <balance>22835.96</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22129.78</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3140QDXA7</cusip>
        <identifiers>
          <isin value="US3140QDXA76"/>
          <ticker value="FNMA"/>
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        <balance>298607.55</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>252860.28</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TRUIST FINANCIAL C 1.125%</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>TRUIST FINANCIAL C 1.125%</title>
        <cusip>89788MAC6</cusip>
        <identifiers>
          <isin value="US89788MAC64"/>
          <ticker value="TFC"/>
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        <balance>221000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>213439.55</valUSD>
        <pctVal>0.0070860658</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-03</maturityDt>
          <couponKind>Fixed</couponKind>
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          <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>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3140KFCK9</cusip>
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          <isin value="US3140KFCK99"/>
          <ticker value="FNMA"/>
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        <balance>268627.99</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>227079.91</valUSD>
        <pctVal>0.0075389176</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3140QMH31</cusip>
        <identifiers>
          <isin value="US3140QMH317"/>
          <ticker value="FNMA"/>
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        <balance>1508340.8</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1261458.25</valUSD>
        <pctVal>0.0418796619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36230MB22</cusip>
        <identifiers>
          <isin value="US36230MB228"/>
          <ticker value="GNR"/>
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        <balance>146048.26</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>142474.29</valUSD>
        <pctVal>0.0047300615</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REGENERON PHARMACEU 1.75%</name>
        <lei>549300RCBFWIRX3HYQ56</lei>
        <title>REGENERON PHARMACEU 1.75%</title>
        <cusip>75886FAE7</cusip>
        <identifiers>
          <isin value="US75886FAE79"/>
          <ticker value="REGN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>265317.42</valUSD>
        <pctVal>0.0088083802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.750000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KITE REALTY GRP. TR 4.75%</name>
        <lei>549300X6R2GYI8Y3OD81</lei>
        <title>KITE REALTY GRP. TR 4.75%</title>
        <cusip>76131VAB9</cusip>
        <identifiers>
          <isin value="US76131VAB99"/>
          <ticker value="KRG"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99559.23</valUSD>
        <pctVal>0.0033053071</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140GV3Q6</cusip>
        <identifiers>
          <isin value="US3140GV3Q64"/>
          <ticker value="FNMA"/>
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        <balance>205429.88</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189234.91</valUSD>
        <pctVal>0.0062824862</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3140QBS90</cusip>
        <identifiers>
          <isin value="US3140QBS903"/>
          <ticker value="FNMA"/>
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        <balance>2007307.96</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1782752.08</valUSD>
        <pctVal>0.0591863064</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ANGLOGOLD ASHANTI H 3.75%</name>
        <lei>213800745ZIXC4L6A131</lei>
        <title>ANGLOGOLD ASHANTI H 3.75%</title>
        <cusip>03512TAE1</cusip>
        <identifiers>
          <isin value="US03512TAE10"/>
          <ticker value="ANGSJ"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189214.04</valUSD>
        <pctVal>0.0062817933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GILEAD SCIENCES INC 1.20%</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>GILEAD SCIENCES INC 1.20%</title>
        <cusip>375558BX0</cusip>
        <identifiers>
          <isin value="US375558BX02"/>
          <ticker value="GILD"/>
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        <balance>720000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>693149.06</valUSD>
        <pctVal>0.0230121356</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3140QFS26</cusip>
        <identifiers>
          <isin value="US3140QFS268"/>
          <ticker value="FNMA"/>
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        <balance>965816.02</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>818511.86</valUSD>
        <pctVal>0.0271741058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.25%</title>
        <cusip>912810SY5</cusip>
        <identifiers>
          <isin value="US912810SY55"/>
          <ticker value="T"/>
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        <balance>3750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2733691.43</valUSD>
        <pctVal>0.0907569259</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 1.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 1.50%</title>
        <cusip>3132D56J6</cusip>
        <identifiers>
          <isin value="US3132D56J61"/>
          <ticker value="FHLMC"/>
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        <balance>259279.8</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>232707.02</valUSD>
        <pctVal>0.0077257343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133GBSF2</cusip>
        <identifiers>
          <isin value="US3133GBSF22"/>
          <ticker value="FHLMC"/>
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        <balance>398755.6</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>364358.2</valUSD>
        <pctVal>0.0120964750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>T-MOBILE USA INC 3.00%</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 3.00%</title>
        <cusip>87264ABL8</cusip>
        <identifiers>
          <isin value="US87264ABL89"/>
          <ticker value="TMUS"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>221398.27</valUSD>
        <pctVal>0.0073502906</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3132DNXZ1</cusip>
        <identifiers>
          <isin value="US3132DNXZ13"/>
          <ticker value="FHLMC"/>
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        <balance>502441.98</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>473865.04</valUSD>
        <pctVal>0.0157320369</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL HOME LOAN 4.125%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FEDERAL HOME LOAN 4.125%</title>
        <cusip>3130ATHW0</cusip>
        <identifiers>
          <isin value="US3130ATHW07"/>
          <ticker value="FHLB"/>
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        <balance>875000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>874417.58</valUSD>
        <pctVal>0.0290301424</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>91282CHK0</cusip>
        <identifiers>
          <isin value="US91282CHK09"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4984570.3</valUSD>
        <pctVal>0.1654847627</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>36202EPL7</cusip>
        <identifiers>
          <isin value="US36202EPL73"/>
          <ticker value="GNR"/>
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        <balance>3617.9</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3722.32</valUSD>
        <pctVal>0.0001235788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31417ESX0</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>36179YKS2</cusip>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ENBRIDGE INC 6.20%</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>ENBRIDGE INC 6.20%</title>
        <cusip>29250NBY0</cusip>
        <identifiers>
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          <ticker value="ENBCN"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>526280.77</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3138WGDC5</cusip>
        <identifiers>
          <isin value="US3138WGDC55"/>
          <ticker value="FNMA"/>
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        <balance>259061.52</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>240638.77</valUSD>
        <pctVal>0.0079890637</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2045-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>31418CMH4</cusip>
        <identifiers>
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        <balance>23368.5</balance>
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        <curCd>USD</curCd>
        <valUSD>22282.74</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>254900C5LP6DN9OP9V83</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>3132DMJF3</cusip>
        <identifiers>
          <isin value="US3132DMJF32"/>
          <ticker value="FHLMC"/>
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        <balance>319904.66</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>296259.42</valUSD>
        <pctVal>0.0098356361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3140QEBH4</cusip>
        <identifiers>
          <isin value="US3140QEBH41"/>
          <ticker value="FNMA"/>
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        <balance>811780.77</balance>
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        <curCd>USD</curCd>
        <valUSD>685542.7</valUSD>
        <pctVal>0.0227596090</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PROVINCE OF BRITISH 4.80%</name>
        <lei>54930058TO7MEKUHWL16</lei>
        <title>PROVINCE OF BRITISH 4.80%</title>
        <cusip>110709AJ1</cusip>
        <identifiers>
          <isin value="US110709AJ18"/>
          <ticker value="BRCOL"/>
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        <balance>750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>759007.05</valUSD>
        <pctVal>0.0251985816</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF NOVA SCOTIA 5.65%</name>
        <lei>L3I9ZG2KFGXZ61BMYR72</lei>
        <title>BANK OF NOVA SCOTIA 5.65%</title>
        <cusip>06418JAC5</cusip>
        <identifiers>
          <isin value="US06418JAC53"/>
          <ticker value="BNS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>518375.09</valUSD>
        <pctVal>0.0172097440</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140X8YG6</cusip>
        <identifiers>
          <isin value="US3140X8YG61"/>
          <ticker value="FNMA"/>
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        <balance>617047.8</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>507505.01</valUSD>
        <pctVal>0.0168488638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 3.50%</title>
        <cusip>36290TJY6</cusip>
        <identifiers>
          <isin value="US36290TJY64"/>
          <ticker value="GNR"/>
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        <balance>137432.97</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>126822.82</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CIGNA GROUP/THE 5.60%</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>CIGNA GROUP/THE 5.60%</title>
        <cusip>125523CW8</cusip>
        <identifiers>
          <isin value="US125523CW86"/>
          <ticker value="CI"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194023.66</valUSD>
        <pctVal>0.0064414699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <name>MARRIOTT INTL. INC/ 4.80%</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>MARRIOTT INTL. INC/ 4.80%</title>
        <cusip>571903BR3</cusip>
        <identifiers>
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          <ticker value="MAR"/>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
        <valUSD>401729.05</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31416HWK7</cusip>
        <identifiers>
          <isin value="US31416HWK75"/>
          <ticker value="FNMA"/>
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        <balance>74340.29</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74969.61</valUSD>
        <pctVal>0.0024889464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418CDJ0</cusip>
        <identifiers>
          <isin value="US31418CDJ09"/>
          <ticker value="FNMA"/>
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        <balance>179086.34</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>168574.08</valUSD>
        <pctVal>0.0055965590</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SANTANDER DRIVE AUT 4.78%</name>
        <lei>N/A</lei>
        <title>SANTANDER DRIVE AUT 4.78%</title>
        <cusip>802920AF5</cusip>
        <identifiers>
          <isin value="US802920AF58"/>
          <ticker value="DRIVE"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25062.34</valUSD>
        <pctVal>0.0008320547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.780000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARRIOTT INTL. INC/ 5.50%</name>
        <lei>225YDZ14ZO8E1TXUSU86</lei>
        <title>MARRIOTT INTL. INC/ 5.50%</title>
        <cusip>571903BU6</cusip>
        <identifiers>
          <isin value="US571903BU68"/>
          <ticker value="MAR"/>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
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        <name>GINNIE MAE II POOL 5.00%</name>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 2.50%</name>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>438494.57</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 2.00%</name>
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        <cusip>3140X9WR2</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>1289560.3</valUSD>
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        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>GINNIE MAE I POOL 6.00%</name>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>2237.45</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31407EPG2</cusip>
        <identifiers>
          <isin value="US31407EPG25"/>
          <ticker value="FNMA"/>
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        <balance>11166.37</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11260.55</valUSD>
        <pctVal>0.0003738435</pctVal>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
        <cusip>3131WJY80</cusip>
        <identifiers>
          <isin value="US3131WJY802"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>217295.25</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3132A5EF8</cusip>
        <identifiers>
          <isin value="US3132A5EF80"/>
          <ticker value="FHLB"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>88556.7</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>3131WMPC4</cusip>
        <identifiers>
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          <ticker value="FHLB"/>
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        <balance>10799.05</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10614.23</valUSD>
        <pctVal>0.0003523861</pctVal>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
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          <ticker value="FHLB"/>
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        <curCd>USD</curCd>
        <valUSD>211715.53</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3131XVRF4</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NEWMONT CORP 5.875%</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>NEWMONT CORP 5.875%</title>
        <cusip>651639AW6</cusip>
        <identifiers>
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          <ticker value="NEM"/>
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        <curCd>USD</curCd>
        <valUSD>105643.41</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>3133KGP44</cusip>
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          <isin value="US3133KGP443"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>ENERGY TRANSFER LP 4.15%</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP 4.15%</title>
        <cusip>292480AM2</cusip>
        <identifiers>
          <isin value="US292480AM22"/>
          <ticker value="ET"/>
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        <balance>183000</balance>
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        <curCd>USD</curCd>
        <valUSD>179730.88</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>SUTTER HEALTH 4.091%</name>
        <lei>549300MJCC12LU768G81</lei>
        <title>SUTTER HEALTH 4.091%</title>
        <cusip>86944BAE3</cusip>
        <identifiers>
          <isin value="US86944BAE39"/>
          <ticker value="SUTHEA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>400546.69</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>Fixed</couponKind>
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      <invstOrSec>
        <name>UBS COMMERCIAL MO 4.3134%</name>
        <lei>N/A</lei>
        <title>UBS COMMERCIAL MO 4.3134%</title>
        <cusip>90276FAW4</cusip>
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          <isin value="US90276FAW41"/>
          <ticker value="LBUBS"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>197043.94</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PPL ELEC. UTILITIES 4.15%</name>
        <lei>549300GCZLSGYEYPIR35</lei>
        <title>PPL ELEC. UTILITIES 4.15%</title>
        <cusip>69351UAV5</cusip>
        <identifiers>
          <isin value="US69351UAV52"/>
          <ticker value="PPL"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>242420.11</valUSD>
        <pctVal>0.0080482031</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.150000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DOMINION ENERGY INC 4.25%</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>DOMINION ENERGY INC 4.25%</title>
        <cusip>25746UCY3</cusip>
        <identifiers>
          <isin value="US25746UCY38"/>
          <ticker value="D"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>496990.59</valUSD>
        <pctVal>0.0164997913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418CXP4</cusip>
        <identifiers>
          <isin value="US31418CXP49"/>
          <ticker value="FNMA"/>
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        <balance>66455.36</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>64650.03</valUSD>
        <pctVal>0.0021463425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133KYVC0</cusip>
        <identifiers>
          <isin value="US3133KYVC01"/>
          <ticker value="FHLMC"/>
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        <balance>381165.44</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>327901.1</valUSD>
        <pctVal>0.0108861211</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133KTQD5</cusip>
        <identifiers>
          <isin value="US3133KTQD53"/>
          <ticker value="FHLMC"/>
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        <balance>709210.07</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>617314.78</valUSD>
        <pctVal>0.0204944827</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2F</title>
        <cusip>61747YEF8</cusip>
        <identifiers>
          <isin value="US61747YEF88"/>
          <ticker value="MS"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>520493.2</valUSD>
        <pctVal>0.0172800640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.484000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC 3.80%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 3.80%</title>
        <cusip>00206RMN9</cusip>
        <identifiers>
          <isin value="US00206RMN97"/>
          <ticker value="T"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>467166.05</valUSD>
        <pctVal>0.0155096344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNION PACIFIC CORP 2.891%</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>UNION PACIFIC CORP 2.891%</title>
        <cusip>907818FQ6</cusip>
        <identifiers>
          <isin value="US907818FQ60"/>
          <ticker value="UNP"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>252613.74</valUSD>
        <pctVal>0.0083866256</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.891000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JEFFERIES FINL. GR 2.625%</name>
        <lei>549300HOF34RGOJ5YL07</lei>
        <title>JEFFERIES FINL. GR 2.625%</title>
        <cusip>47233JGT9</cusip>
        <identifiers>
          <isin value="US47233JGT97"/>
          <ticker value="JEF"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>348419.69</valUSD>
        <pctVal>0.0115673260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418SZF9</cusip>
        <identifiers>
          <isin value="US31418SZF90"/>
          <ticker value="FNMA"/>
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        <balance>63925.63</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>63217.81</valUSD>
        <pctVal>0.0020987936</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHARTER COMMS. OPER 5.75%</name>
        <lei>N/A</lei>
        <title>CHARTER COMMS. OPER 5.75%</title>
        <cusip>161175BN3</cusip>
        <identifiers>
          <isin value="US161175BN35"/>
          <ticker value="CHTR"/>
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        <balance>520000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>437701.33</valUSD>
        <pctVal>0.0145314232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INTEL CORP 3.734%</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>INTEL CORP 3.734%</title>
        <cusip>458140BG4</cusip>
        <identifiers>
          <isin value="US458140BG44"/>
          <ticker value="INTC"/>
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        <balance>741000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>533468.46</valUSD>
        <pctVal>0.0177108349</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.734000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TAMPA ELEC. CO 4.30%</name>
        <lei>WS423EPRKJIIJUITXD73</lei>
        <title>TAMPA ELEC. CO 4.30%</title>
        <cusip>875127BE1</cusip>
        <identifiers>
          <isin value="US875127BE14"/>
          <ticker value="TE"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82830.97</valUSD>
        <pctVal>0.0027499388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179WDR6</cusip>
        <identifiers>
          <isin value="US36179WDR60"/>
          <ticker value="GNR"/>
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        <balance>1109710.6</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>949059.16</valUSD>
        <pctVal>0.0315081984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133KLX93</cusip>
        <identifiers>
          <isin value="US3133KLX934"/>
          <ticker value="FHLMC"/>
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        <balance>1389986.58</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1110854.6</valUSD>
        <pctVal>0.0368797105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140JR6X4</cusip>
        <identifiers>
          <isin value="US3140JR6X49"/>
          <ticker value="FNMA"/>
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        <balance>281669.08</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>225992.29</valUSD>
        <pctVal>0.0075028093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENSTAR GROUP LTD 3.10%</name>
        <lei>213800AMAL5QFXVUCN04</lei>
        <title>ENSTAR GROUP LTD 3.10%</title>
        <cusip>29359UAC3</cusip>
        <identifiers>
          <isin value="US29359UAC36"/>
          <ticker value="ESGR"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>133552.95</valUSD>
        <pctVal>0.0044338783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.100000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>HOWMET AEROSPACE IN 3.00%</name>
        <lei>549300HO5WFZUT5N2T22</lei>
        <title>HOWMET AEROSPACE IN 3.00%</title>
        <cusip>443201AB4</cusip>
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          <isin value="US443201AB48"/>
          <ticker value="HWM"/>
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        <curCd>USD</curCd>
        <valUSD>192506.71</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
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          <annualizedRt>3.000000000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>31418D6C1</cusip>
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          <isin value="US31418D6C10"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>828324.16</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179WNE4</cusip>
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          <isin value="US36179WNE48"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>1653951.03</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WALMART INC 1.80%</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>WALMART INC 1.80%</title>
        <cusip>931142ET6</cusip>
        <identifiers>
          <isin value="US931142ET65"/>
          <ticker value="WMT"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1766631.22</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.800000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FLOWSERVE CORP 2.80%</name>
        <lei>6Y0GK87T6V7NJKZJVM41</lei>
        <title>FLOWSERVE CORP 2.80%</title>
        <cusip>34355JAB4</cusip>
        <identifiers>
          <isin value="US34355JAB44"/>
          <ticker value="FLS"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>88711.91</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.800000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PEPSICO INC 2.625%</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PEPSICO INC 2.625%</title>
        <cusip>713448FF0</cusip>
        <identifiers>
          <isin value="US713448FF06"/>
          <ticker value="PEP"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>143670.4</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-10-21</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AERCAP IRELAND CAP. 3.30%</name>
        <lei>N/A</lei>
        <title>AERCAP IRELAND CAP. 3.30%</title>
        <cusip>00774MAX3</cusip>
        <identifiers>
          <isin value="US00774MAX39"/>
          <ticker value="AER"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>914074.52</valUSD>
        <pctVal>0.0303467292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.300000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INVITATION HOMES OP 2.30%</name>
        <lei>549300147YMUQB3GW319</lei>
        <title>INVITATION HOMES OP 2.30%</title>
        <cusip>46188BAB8</cusip>
        <identifiers>
          <isin value="US46188BAB80"/>
          <ticker value="INVH"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189277.75</valUSD>
        <pctVal>0.0062839085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.300000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TOLL BROS. FIN. COR 3.80%</name>
        <lei>N/A</lei>
        <title>TOLL BROS. FIN. COR 3.80%</title>
        <cusip>88947EAU4</cusip>
        <identifiers>
          <isin value="US88947EAU47"/>
          <ticker value="TOL"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145630.65</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DCP MIDSTREAM OPER 5.625%</name>
        <lei>549300Y6CTBSE0QIPL28</lei>
        <title>DCP MIDSTREAM OPER 5.625%</title>
        <cusip>23311VAJ6</cusip>
        <identifiers>
          <isin value="US23311VAJ61"/>
          <ticker value="DCP"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>302744.89</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418CMX9</cusip>
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          <isin value="US31418CMX91"/>
          <ticker value="FNMA"/>
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        <balance>196821.62</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>192313.69</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179TQQ1</cusip>
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          <isin value="US36179TQQ12"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>122431.67</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <name>L3HARRIS TECHS. INC 4.40%</name>
        <lei>549300UTE50ZMDBG8A20</lei>
        <title>L3HARRIS TECHS. INC 4.40%</title>
        <cusip>413875AW5</cusip>
        <identifiers>
          <isin value="US413875AW58"/>
          <ticker value="LHX"/>
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        <balance>449000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>447285.56</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.400000000000</annualizedRt>
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        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3132D6NS5</cusip>
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          <isin value="US3132D6NS53"/>
          <ticker value="FHLMC"/>
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        <balance>431675.49</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>394608.61</valUSD>
        <pctVal>0.0131007706</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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        <name>ABBOTT LABORATORIES 1.40%</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>ABBOTT LABORATORIES 1.40%</title>
        <cusip>002824BQ2</cusip>
        <identifiers>
          <isin value="US002824BQ25"/>
          <ticker value="ABT"/>
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        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2221662.43</valUSD>
        <pctVal>0.0737578683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TAKEDA PHARM. CO L 3.175%</name>
        <lei>549300ZLMVP4X0OGR454</lei>
        <title>TAKEDA PHARM. CO L 3.175%</title>
        <cusip>874060AZ9</cusip>
        <identifiers>
          <isin value="US874060AZ95"/>
          <ticker value="TACHEM"/>
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        <balance>204000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>135782.21</valUSD>
        <pctVal>0.0045078884</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.175000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31407KQU6</cusip>
        <identifiers>
          <isin value="US31407KQU69"/>
          <ticker value="FNMA"/>
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        <balance>50235.24</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>51559.86</valUSD>
        <pctVal>0.0017117566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3138EL5Y5</cusip>
        <identifiers>
          <isin value="US3138EL5Y54"/>
          <ticker value="FNMA"/>
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        <balance>41266.76</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40784.13</valUSD>
        <pctVal>0.0013540088</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31417EKR1</cusip>
        <identifiers>
          <isin value="US31417EKR17"/>
          <ticker value="FNMA"/>
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        <balance>267787.39</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>242352.43</valUSD>
        <pctVal>0.0080459562</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LOCKHEED MARTIN COR 3.80%</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>LOCKHEED MARTIN COR 3.80%</title>
        <cusip>539830BD0</cusip>
        <identifiers>
          <isin value="US539830BD07"/>
          <ticker value="LMT"/>
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        <balance>230000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>183057.42</valUSD>
        <pctVal>0.0060773972</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COCA-COLA FEMSA SAB 1.85%</name>
        <lei>5493008KEVFYPMGTXO33</lei>
        <title>COCA-COLA FEMSA SAB 1.85%</title>
        <cusip>191241AJ7</cusip>
        <identifiers>
          <isin value="US191241AJ70"/>
          <ticker value="KOF"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>167186.72</valUSD>
        <pctVal>0.0055504994</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.850000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3140KEM96</cusip>
        <identifiers>
          <isin value="US3140KEM960"/>
          <ticker value="FNMA"/>
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        <balance>470579.29</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>397401.31</valUSD>
        <pctVal>0.0131934866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.25%</title>
        <cusip>91282CKX8</cusip>
        <identifiers>
          <isin value="US91282CKX82"/>
          <ticker value="T"/>
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        <balance>10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10022656.2</valUSD>
        <pctVal>0.3327462113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.625%</title>
        <cusip>91282CKV2</cusip>
        <identifiers>
          <isin value="US91282CKV27"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5024062.5</valUSD>
        <pctVal>0.1667958802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>91282CNG2</cusip>
        <identifiers>
          <isin value="US91282CNG23"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4966210.95</valUSD>
        <pctVal>0.1648752432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDEX CORP 2.40%</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FEDEX CORP 2.40%</title>
        <cusip>31428XDH6</cusip>
        <identifiers>
          <isin value="US31428XDH61"/>
          <ticker value="FDX"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>360560.47</valUSD>
        <pctVal>0.0119703927</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133AFA92</cusip>
        <identifiers>
          <isin value="US3133AFA927"/>
          <ticker value="FHLMC"/>
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        <balance>798537.06</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>640596.14</valUSD>
        <pctVal>0.0212674100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ZIMMER BIOMET HOLDI 2.60%</name>
        <lei>2P2YLDVPES3BXQ1FRB91</lei>
        <title>ZIMMER BIOMET HOLDI 2.60%</title>
        <cusip>98956PAV4</cusip>
        <identifiers>
          <isin value="US98956PAV40"/>
          <ticker value="ZBH"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>358566.3</valUSD>
        <pctVal>0.0119041874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. IN F2F</title>
        <cusip>38141GD27</cusip>
        <identifiers>
          <isin value="US38141GD272"/>
          <ticker value="GS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>492950.03</valUSD>
        <pctVal>0.0163656471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.153000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PFE1</cusip>
        <identifiers>
          <isin value="US46647PFE16"/>
          <ticker value="JPM"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>486121.67</valUSD>
        <pctVal>0.0161389497</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.810000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HONDA AUTO RECEIVAB 3.98%</name>
        <lei>N/A</lei>
        <title>HONDA AUTO RECEIVAB 3.98%</title>
        <cusip>43814XAD5</cusip>
        <identifiers>
          <isin value="US43814XAD57"/>
          <ticker value="HAROT"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49629.63</valUSD>
        <pctVal>0.0016476741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.980000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FAIRFAX FINL. HLDGS 6.50%</name>
        <lei>GLS7OQD0WOEDI8YAP031</lei>
        <title>FAIRFAX FINL. HLDGS 6.50%</title>
        <cusip>303901BY7</cusip>
        <identifiers>
          <isin value="US303901BY72"/>
          <ticker value="FFHCN"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>260880.63</valUSD>
        <pctVal>0.0086610814</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>36202FHY5</cusip>
        <identifiers>
          <isin value="US36202FHY51"/>
          <ticker value="GNR"/>
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        <balance>44906.18</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>45470.38</valUSD>
        <pctVal>0.0015095895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HOME DEPOT INC/THE 5.40%</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>HOME DEPOT INC/THE 5.40%</title>
        <cusip>437076AU6</cusip>
        <identifiers>
          <isin value="US437076AU64"/>
          <ticker value="HD"/>
        </identifiers>
        <balance>680000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>682341.85</valUSD>
        <pctVal>0.0226533427</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</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>CANADIAN NATL. RAIL 4.20%</name>
        <lei>3SU7BEP7TH9YEQOZCS77</lei>
        <title>CANADIAN NATL. RAIL 4.20%</title>
        <cusip>136375DV1</cusip>
        <identifiers>
          <isin value="US136375DV17"/>
          <ticker value="CNRCN"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>489881.14</valUSD>
        <pctVal>0.0162637618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VERIZON COMMS. INC 5.75%</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMS. INC 5.75%</title>
        <cusip>92343VHH0</cusip>
        <identifiers>
          <isin value="US92343VHH06"/>
          <ticker value="VZ"/>
        </identifiers>
        <balance>990000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>962301.07</valUSD>
        <pctVal>0.0319478219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</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>PFIZER INC 5.70%</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>PFIZER INC 5.70%</title>
        <cusip>717081FH1</cusip>
        <identifiers>
          <isin value="US717081FH15"/>
          <ticker value="PFE"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>391980.95</valUSD>
        <pctVal>0.0130135339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</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>VOLKSWAGEN AUTO LOA 3.92%</name>
        <lei>N/A</lei>
        <title>VOLKSWAGEN AUTO LOA 3.92%</title>
        <cusip>92869QAD1</cusip>
        <identifiers>
          <isin value="US92869QAD16"/>
          <ticker value="VALET"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99140.02</valUSD>
        <pctVal>0.0032913896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.920000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS PRIVA 5.05%</name>
        <lei>549300TD27G6372IYJ65</lei>
        <title>GOLDMAN SACHS PRIVA 5.05%</title>
        <cusip>38152BAK7</cusip>
        <identifiers>
          <isin value="US38152BAK70"/>
          <ticker value="GSCRED"/>
        </identifiers>
        <balance>570000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>566917.29</valUSD>
        <pctVal>0.0188213161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.050000000000</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>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>3618N6HU4</cusip>
        <identifiers>
          <isin value="US3618N6HU47"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>3393240.66</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3347793.36</valUSD>
        <pctVal>0.1111447439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>ARES CAP. CORP 5.55%</name>
        <lei>WEQ82666OJYSI5GUAB47</lei>
        <title>ARES CAP. CORP 5.55%</title>
        <cusip>04010LBN2</cusip>
        <identifiers>
          <isin value="US04010LBN29"/>
          <ticker value="ARCC"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>497204.62</valUSD>
        <pctVal>0.0165068970</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.550000000000</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>WORLD OMNI AUTO REC 4.37%</name>
        <lei>N/A</lei>
        <title>WORLD OMNI AUTO REC 4.37%</title>
        <cusip>98165AAD4</cusip>
        <identifiers>
          <isin value="US98165AAD46"/>
          <ticker value="WOART"/>
        </identifiers>
        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74851.98</valUSD>
        <pctVal>0.0024850411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.370000000000</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>GM FINL. AUTOMOBILE 4.30%</name>
        <lei>N/A</lei>
        <title>GM FINL. AUTOMOBILE 4.30%</title>
        <cusip>36275AAD1</cusip>
        <identifiers>
          <isin value="US36275AAD19"/>
          <ticker value="GMALT"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49927.81</valUSD>
        <pctVal>0.0016575735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</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>HONDA AUTO RECEIVAB 4.33%</name>
        <lei>N/A</lei>
        <title>HONDA AUTO RECEIVAB 4.33%</title>
        <cusip>43814YAE1</cusip>
        <identifiers>
          <isin value="US43814YAE14"/>
          <ticker value="HAROT"/>
        </identifiers>
        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24901.69</valUSD>
        <pctVal>0.0008267213</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.330000000000</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>DUKE ENERGY CAROLIN 3.75%</name>
        <lei>MWIUSDMN17TCR56VW396</lei>
        <title>DUKE ENERGY CAROLIN 3.75%</title>
        <cusip>26442CAP9</cusip>
        <identifiers>
          <isin value="US26442CAP95"/>
          <ticker value="DUK"/>
        </identifiers>
        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>271270.81</valUSD>
        <pctVal>0.0090060292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</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>SOUTHWESTERN ELEC. 3.90%</name>
        <lei>R64UBJHEC74EB3HGQ410</lei>
        <title>SOUTHWESTERN ELEC. 3.90%</title>
        <cusip>845437BN1</cusip>
        <identifiers>
          <isin value="US845437BN11"/>
          <ticker value="AEP"/>
        </identifiers>
        <balance>170000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>130547.39</valUSD>
        <pctVal>0.0043340955</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.900000000000</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>ELI LILLY &amp; CO 5.60%</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>ELI LILLY &amp; CO 5.60%</title>
        <cusip>532457DP0</cusip>
        <identifiers>
          <isin value="US532457DP08"/>
          <ticker value="LLY"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502178.29</valUSD>
        <pctVal>0.0166720199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</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>MASTERCARD INC 4.60%</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>MASTERCARD INC 4.60%</title>
        <cusip>57636QBL7</cusip>
        <identifiers>
          <isin value="US57636QBL77"/>
          <ticker value="MA"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499231.56</valUSD>
        <pctVal>0.0165741902</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.600000000000</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>FANNIE MAE POOL 7.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 7.00%</title>
        <cusip>3140W44H7</cusip>
        <identifiers>
          <isin value="US3140W44H73"/>
          <ticker value="FN"/>
        </identifiers>
        <balance>959211.06</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1013098.18</valUSD>
        <pctVal>0.0336342557</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000</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>VERIZON MASTER TRUS 4.51%</name>
        <lei>5493007MUBNP1GFMEB89</lei>
        <title>VERIZON MASTER TRUS 4.51%</title>
        <cusip>92348KFG3</cusip>
        <identifiers>
          <isin value="US92348KFG31"/>
          <ticker value="VZMT"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99982.69</valUSD>
        <pctVal>0.0033193657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.510000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORFOLK SOUTHERN CO 4.45%</name>
        <lei>54930036C8MWP850MI84</lei>
        <title>NORFOLK SOUTHERN CO 4.45%</title>
        <cusip>655844BQ0</cusip>
        <identifiers>
          <isin value="US655844BQ00"/>
          <ticker value="NSC"/>
        </identifiers>
        <balance>275000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>236727.13</valUSD>
        <pctVal>0.0078591996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS PLC 5.25%</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC 5.25%</title>
        <cusip>06738EAJ4</cusip>
        <identifiers>
          <isin value="US06738EAJ47"/>
          <ticker value="BACR"/>
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        <balance>144000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>135347.06</valUSD>
        <pctVal>0.0044934417</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3138EM6P1</cusip>
        <identifiers>
          <isin value="US3138EM6P11"/>
          <ticker value="FNMA"/>
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        <balance>845394.96</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>813713.08</valUSD>
        <pctVal>0.0270147892</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED PARCEL SERV. 5.30%</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>UNITED PARCEL SERV. 5.30%</title>
        <cusip>911312BW5</cusip>
        <identifiers>
          <isin value="US911312BW51"/>
          <ticker value="UPS"/>
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        <balance>377000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>357490.62</valUSD>
        <pctVal>0.0118684755</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 1.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 1.50%</title>
        <cusip>31418DSL7</cusip>
        <identifiers>
          <isin value="US31418DSL72"/>
          <ticker value="FNMA"/>
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        <balance>199210.83</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>178797.76</valUSD>
        <pctVal>0.0059359791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEXTERA ENERGY CAP. 2.44%</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NEXTERA ENERGY CAP. 2.44%</title>
        <cusip>65339KBZ2</cusip>
        <identifiers>
          <isin value="US65339KBZ21"/>
          <ticker value="NEE"/>
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        <balance>439000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>387155.23</valUSD>
        <pctVal>0.0128533229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.440000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DOLLAR TREE INC 2.65%</name>
        <lei>549300PMSTQITB1WHR43</lei>
        <title>DOLLAR TREE INC 2.65%</title>
        <cusip>256746AJ7</cusip>
        <identifiers>
          <isin value="US256746AJ71"/>
          <ticker value="DLTR"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>178466.09</valUSD>
        <pctVal>0.0059249678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK 2021-BNK38 2.521%</name>
        <lei>N/A</lei>
        <title>BANK 2021-BNK38 2.521%</title>
        <cusip>06540EAK9</cusip>
        <identifiers>
          <isin value="US06540EAK91"/>
          <ticker value="BANK"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>263658.96</valUSD>
        <pctVal>0.0087533203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.521000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MEXICO GOV. INTL. B 4.40%</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEXICO GOV. INTL. B 4.40%</title>
        <cusip>91087BAS9</cusip>
        <identifiers>
          <isin value="US91087BAS97"/>
          <ticker value="MEX"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500500</valUSD>
        <pctVal>0.0166163017</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PFIZER INC 5.60%</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>PFIZER INC 5.60%</title>
        <cusip>717081DT7</cusip>
        <identifiers>
          <isin value="US717081DT70"/>
          <ticker value="PFE"/>
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        <balance>194000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198718.18</valUSD>
        <pctVal>0.0065973251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VISA INC 4.15%</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>VISA INC 4.15%</title>
        <cusip>92826CAE2</cusip>
        <identifiers>
          <isin value="US92826CAE21"/>
          <ticker value="V"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95444.07</valUSD>
        <pctVal>0.0031686862</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36179XBU9</cusip>
        <identifiers>
          <isin value="US36179XBU90"/>
          <ticker value="GNR"/>
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        <balance>1418298.8</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1375225.45</valUSD>
        <pctVal>0.0456566652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>3133BKFA2</cusip>
        <identifiers>
          <isin value="US3133BKFA26"/>
          <ticker value="FHLMC"/>
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        <balance>693497.55</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>670333.69</valUSD>
        <pctVal>0.0222546789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.00%</title>
        <cusip>3618N5TP4</cusip>
        <identifiers>
          <isin value="US3618N5TP41"/>
          <ticker value="GNR"/>
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        <balance>1413609.8</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1444140.41</valUSD>
        <pctVal>0.0479446008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BROADCOM INC 3.50%</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>BROADCOM INC 3.50%</title>
        <cusip>11135FCV1</cusip>
        <identifiers>
          <isin value="US11135FCV13"/>
          <ticker value="AVGO"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>159800.24</valUSD>
        <pctVal>0.0053052727</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>3620ARNT4</cusip>
        <identifiers>
          <isin value="US3620ARNT45"/>
          <ticker value="GNR"/>
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        <balance>102591.47</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98039.04</valUSD>
        <pctVal>0.0032548377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3138MQTD5</cusip>
        <identifiers>
          <isin value="US3138MQTD56"/>
          <ticker value="FNMA"/>
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        <balance>309335.52</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>288793.19</valUSD>
        <pctVal>0.0095877618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>CAPITAL ONE MULTI-A 4.65%</name>
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        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FANNIE MAE POOL 3.00%</name>
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        <name>FREDDIE MAC MULTIF 2.988%</name>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>JAPAN BANK FOR INTE 2.75%</name>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COCA-COLA CO/THE 4.20%</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
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      <invstOrSec>
        <name>WELLS FARGO &amp; CO F2F</name>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>FANNIE MAE POOL 1.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140QHPC3</cusip>
        <identifiers>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TRUIST FINANCIAL CORP F2F</name>
        <lei>549300DRQQI75D2JP341</lei>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>RAYTHEON TECHNOLOGIES 1.9</name>
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        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>CHUBB INA HLDGS. IN 3.05%</name>
        <lei>CZCBJZWDMLTHWJDXU843</lei>
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        <name>GINNIE MAE II POOL 4.50%</name>
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        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>UNION PACIFIC CORP 3.375%</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
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        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138WFDE3</cusip>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
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      <invstOrSec>
        <name>ORIX CORP 5.00%</name>
        <lei>35380016EMHNBOVYE123</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HALEON US CAPITAL 3.625%</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AON CORP / AON GBL. 5.35%</name>
        <lei>N/A</lei>
        <title>AON CORP / AON GBL. 5.35%</title>
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        <curCd>USD</curCd>
        <valUSD>204222.36</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CIGNA GROUP/THE 6.00%</name>
        <lei>549300VIWYMSIGT1U456</lei>
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          <ticker value="CI"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2F</title>
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          <ticker value="MS"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3138W7UG7</cusip>
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          <ticker value="FNMA"/>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>INTER-AMERICAN DEV 3.125%</name>
        <lei>VKU1UKDS9E7LYLMACP54</lei>
        <title>INTER-AMERICAN DEV 3.125%</title>
        <cusip>4581X0DC9</cusip>
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          <ticker value="IADB"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>978131.9</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>INTEL CORP 4.75%</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>INTEL CORP 4.75%</title>
        <cusip>458140BM1</cusip>
        <identifiers>
          <isin value="US458140BM12"/>
          <ticker value="INTC"/>
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        <curCd>USD</curCd>
        <valUSD>166168.66</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3140QEWY4</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>408335.68</valUSD>
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        <name>PEPSICO INC 1.95%</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
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        <curCd>USD</curCd>
        <valUSD>439606.67</valUSD>
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        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FREDDIE MAC POOL 1.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <ticker value="FHLMC"/>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      </invstOrSec>
      <invstOrSec>
        <name>WASTE CONNECTIONS I 2.95%</name>
        <lei>549300HDLRTPBQU69P29</lei>
        <title>WASTE CONNECTIONS I 2.95%</title>
        <cusip>94106BAD3</cusip>
        <identifiers>
          <isin value="US94106BAD38"/>
          <ticker value="WCNCN"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>192516.69</valUSD>
        <pctVal>0.0063914393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="196622.070000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REVVITY INC 2.25%</name>
        <lei>549300IKL1SDPFI7N655</lei>
        <title>REVVITY INC 2.25%</title>
        <cusip>714046AN9</cusip>
        <identifiers>
          <isin value="US714046AN96"/>
          <ticker value="RVTY"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>264461</valUSD>
        <pctVal>0.0087799476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC 3.65%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 3.65%</title>
        <cusip>00206RLV2</cusip>
        <identifiers>
          <isin value="US00206RLV23"/>
          <ticker value="T"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>319557.11</valUSD>
        <pctVal>0.0106091056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.650000000000</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>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3133KNBA0</cusip>
        <identifiers>
          <isin value="US3133KNBA00"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>3198460.58</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2560556.5</valUSD>
        <pctVal>0.0850089495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</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>GLP CAP. LP / GLP F 3.25%</name>
        <lei>N/A</lei>
        <title>GLP CAP. LP / GLP F 3.25%</title>
        <cusip>361841AR0</cusip>
        <identifiers>
          <isin value="US361841AR08"/>
          <ticker value="GLPI"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>268601.43</valUSD>
        <pctVal>0.0089174074</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</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>FIDELITY NATL. FINL 3.20%</name>
        <lei>549300CAZYIH39SYQ287</lei>
        <title>FIDELITY NATL. FINL 3.20%</title>
        <cusip>31620RAL9</cusip>
        <identifiers>
          <isin value="US31620RAL96"/>
          <ticker value="FNF"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>126151.98</valUSD>
        <pctVal>0.0041881705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.200000000000</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>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179WQA9</cusip>
        <identifiers>
          <isin value="US36179WQA98"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>1257263.84</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1075227.98</valUSD>
        <pctVal>0.0356969280</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</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>CENTERPOINT ENERGY 5.25%</name>
        <lei>2JADVB0458J06WCD4N56</lei>
        <title>CENTERPOINT ENERGY 5.25%</title>
        <cusip>15189YAG1</cusip>
        <identifiers>
          <isin value="US15189YAG17"/>
          <ticker value="CNP"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>506544.48</valUSD>
        <pctVal>0.0168169748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</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>DICK S SPORTING GOO 4.10%</name>
        <lei>529900SSBV5I4LWSK313</lei>
        <title>DICK S SPORTING GOO 4.10%</title>
        <cusip>253393AG7</cusip>
        <identifiers>
          <isin value="US253393AG77"/>
          <ticker value="DKS"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>72761.37</valUSD>
        <pctVal>0.0024156341</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BROADCOM INC 3.75%</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>BROADCOM INC 3.75%</title>
        <cusip>11135FCS8</cusip>
        <identifiers>
          <isin value="US11135FCS83"/>
          <ticker value="AVGO"/>
        </identifiers>
        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>519679.36</valUSD>
        <pctVal>0.0172530450</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</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>TSMC ARIZONA CORP 3.125%</name>
        <lei>2549005GOBWLCSY63Q97</lei>
        <title>TSMC ARIZONA CORP 3.125%</title>
        <cusip>872898AD3</cusip>
        <identifiers>
          <isin value="US872898AD36"/>
          <ticker value="TAISEM"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>406193.22</valUSD>
        <pctVal>0.0134853728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.125000000000</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>AMERICAN AIRLINES 2.875%</name>
        <lei>N/A</lei>
        <title>AMERICAN AIRLINES 2.875%</title>
        <cusip>02379KAA2</cusip>
        <identifiers>
          <isin value="US02379KAA25"/>
          <ticker value="AAL"/>
        </identifiers>
        <balance>243693.29</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>219353.57</valUSD>
        <pctVal>0.0072824078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.875000000000</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>VIATRIS INC 4.00%</name>
        <lei>254900ZZTSW7NL773X71</lei>
        <title>VIATRIS INC 4.00%</title>
        <cusip>92556VAF3</cusip>
        <identifiers>
          <isin value="US92556VAF31"/>
          <ticker value="VTRS"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>343229.27</valUSD>
        <pctVal>0.0113950072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>RTX CORP 2.375%</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>RTX CORP 2.375%</title>
        <cusip>75513ECN9</cusip>
        <identifiers>
          <isin value="US75513ECN94"/>
          <ticker value="RTX"/>
        </identifiers>
        <balance>68000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>60059.45</valUSD>
        <pctVal>0.0019939379</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.375000000000</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>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2F</title>
        <cusip>61748UAN2</cusip>
        <identifiers>
          <isin value="US61748UAN28"/>
          <ticker value="MS"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>484224.33</valUSD>
        <pctVal>0.0160759591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.892000000000</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>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31415BH77</cusip>
        <identifiers>
          <isin value="US31415BH774"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>6359.33</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6518.43</valUSD>
        <pctVal>0.0002164080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</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>ENERGY TRANSFER LP 4.95%</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP 4.95%</title>
        <cusip>29278NAF0</cusip>
        <identifiers>
          <isin value="US29278NAF06"/>
          <ticker value="ET"/>
        </identifiers>
        <balance>27000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27140.35</valUSD>
        <pctVal>0.0009010434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ENERGY TRANSFER LP 5.80%</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP 5.80%</title>
        <cusip>29278NAD5</cusip>
        <identifiers>
          <isin value="US29278NAD57"/>
          <ticker value="ET"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>408032.64</valUSD>
        <pctVal>0.0135464404</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.800000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="15339.890000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>DOMINION ENERGY INC 7.00%</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>DOMINION ENERGY INC 7.00%</title>
        <cusip>25746UBD0</cusip>
        <identifiers>
          <isin value="US25746UBD00"/>
          <ticker value="D"/>
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        <balance>20000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22641.33</valUSD>
        <pctVal>0.0007516787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HALLIBURTON CO 7.45%</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>HALLIBURTON CO 7.45%</title>
        <cusip>406216AY7</cusip>
        <identifiers>
          <isin value="US406216AY74"/>
          <ticker value="HAL"/>
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        <balance>160000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>186960.9</valUSD>
        <pctVal>0.0062069904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DOMINION ENERGY INC 4.05%</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>DOMINION ENERGY INC 4.05%</title>
        <cusip>25746UBQ1</cusip>
        <identifiers>
          <isin value="US25746UBQ13"/>
          <ticker value="D"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>81675.21</valUSD>
        <pctVal>0.0027115683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PHILIPPINE GOV. INT 7.75%</name>
        <lei>529900RAHBALMYIJ3T08</lei>
        <title>PHILIPPINE GOV. INT 7.75%</title>
        <cusip>718286BB2</cusip>
        <identifiers>
          <isin value="US718286BB24"/>
          <ticker value="PHILIP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>560922.77</valUSD>
        <pctVal>0.0186223016</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 4.00%</title>
        <cusip>3132XCSA4</cusip>
        <identifiers>
          <isin value="US3132XCSA42"/>
          <ticker value="FHLMC"/>
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        <balance>408374.7</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>387975.71</valUSD>
        <pctVal>0.0128805623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140XBGV6</cusip>
        <identifiers>
          <isin value="US3140XBGV67"/>
          <ticker value="FNMA"/>
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        <balance>2713108.4</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2168297.78</valUSD>
        <pctVal>0.0719861938</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>31410KJY1</cusip>
        <identifiers>
          <isin value="US31410KJY10"/>
          <ticker value="FNMA"/>
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        <balance>47353.52</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49678.73</valUSD>
        <pctVal>0.0016493042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTHERN CALIFORNIA 6.05%</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>SOUTHERN CALIFORNIA 6.05%</title>
        <cusip>842400FL2</cusip>
        <identifiers>
          <isin value="US842400FL27"/>
          <ticker value="EIX"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50756.1</valUSD>
        <pctVal>0.0016850723</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PPL ELECTRIC UTILIT 6.25%</name>
        <lei>549300GCZLSGYEYPIR35</lei>
        <title>PPL ELECTRIC UTILIT 6.25%</title>
        <cusip>69351UAM5</cusip>
        <identifiers>
          <isin value="US69351UAM53"/>
          <ticker value="PPL"/>
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        <balance>275000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>296985.67</valUSD>
        <pctVal>0.0098597472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.00%</title>
        <cusip>3128MJLX6</cusip>
        <identifiers>
          <isin value="US3128MJLX69"/>
          <ticker value="FHLMC"/>
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        <balance>179503.11</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>181244.81</valUSD>
        <pctVal>0.0060172197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>31418MDZ2</cusip>
        <identifiers>
          <isin value="US31418MDZ23"/>
          <ticker value="FNMA"/>
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        <balance>60239.78</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>63493.06</valUSD>
        <pctVal>0.0021079317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMGEN INC 5.15%</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>AMGEN INC 5.15%</title>
        <cusip>031162BK5</cusip>
        <identifiers>
          <isin value="US031162BK53"/>
          <ticker value="AMGN"/>
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        <balance>126000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>119852.39</valUSD>
        <pctVal>0.0039790279</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORDIC INV. BANK 4.375%</name>
        <lei>213800HYL1S7VAXG6Z48</lei>
        <title>NORDIC INV. BANK 4.375%</title>
        <cusip>65562QBW4</cusip>
        <identifiers>
          <isin value="US65562QBW42"/>
          <ticker value="NIB"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>702032.85</valUSD>
        <pctVal>0.0233070721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>FI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>31417CVJ1</cusip>
        <identifiers>
          <isin value="US31417CVJ16"/>
          <ticker value="FNMA"/>
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        <balance>148161.92</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>138323.21</valUSD>
        <pctVal>0.0045922481</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3138ENNB1</cusip>
        <identifiers>
          <isin value="US3138ENNB16"/>
          <ticker value="FNMA"/>
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        <balance>498709.31</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>476902.95</valUSD>
        <pctVal>0.0158328937</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3140XHWC7</cusip>
        <identifiers>
          <isin value="US3140XHWC72"/>
          <ticker value="FNMA"/>
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        <balance>667080.99</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>626710.71</valUSD>
        <pctVal>0.0208064220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 2.50%</name>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3132KFP89</cusip>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>AMPHENOL CORP 2.20%</name>
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          <ticker value="APH"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY F2F</name>
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          <ticker value="MS"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>1074118.04</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179SQU4</cusip>
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          <ticker value="GNR"/>
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        <balance>263727.03</balance>
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        <curCd>USD</curCd>
        <valUSD>230038.25</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NORFOLK SOUTHERN C 3.942%</name>
        <lei>54930036C8MWP850MI84</lei>
        <title>NORFOLK SOUTHERN C 3.942%</title>
        <cusip>655844BX5</cusip>
        <identifiers>
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          <ticker value="NSC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>234276.74</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONSTELLATION BRAND 2.25%</name>
        <lei>5493005GKEG8QCVY7037</lei>
        <title>CONSTELLATION BRAND 2.25%</title>
        <cusip>21036PBH0</cusip>
        <identifiers>
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          <ticker value="STZ"/>
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        <balance>284000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250654.43</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SHERWIN-WILLIAMS CO 2.20%</name>
        <lei>Z15BMIOX8DDH0X2OBP21</lei>
        <title>SHERWIN-WILLIAMS CO 2.20%</title>
        <cusip>824348BN5</cusip>
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          <isin value="US824348BN55"/>
          <ticker value="SHW"/>
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        <balance>325000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>283990.02</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.200000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMAZON.COM INC 3.875%</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON.COM INC 3.875%</title>
        <cusip>023135BF2</cusip>
        <identifiers>
          <isin value="US023135BF28"/>
          <ticker value="AMZN"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>223666.4</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-22</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WELLS FARGO COMMER 4.302%</name>
        <lei>549300REQJRID6TODX95</lei>
        <title>WELLS FARGO COMMER 4.302%</title>
        <cusip>95001RAX7</cusip>
        <identifiers>
          <isin value="US95001RAX70"/>
          <ticker value="WFCM"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98692.76</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.302000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 2.361%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 2.361%</title>
        <cusip>3137H4RG7</cusip>
        <identifiers>
          <isin value="US3137H4RG71"/>
          <ticker value="FHLB"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80742.97</valUSD>
        <pctVal>0.0026806185</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MERCK INC 1.90%</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MERCK INC 1.90%</title>
        <cusip>58933YBD6</cusip>
        <identifiers>
          <isin value="US58933YBD67"/>
          <ticker value="MRK"/>
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        <balance>279000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>263222.72</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.900000000000</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>
        <name>TRITON CONTAINER IN 3.25%</name>
        <lei>N/A</lei>
        <title>TRITON CONTAINER IN 3.25%</title>
        <cusip>89681LAA0</cusip>
        <identifiers>
          <isin value="US89681LAA08"/>
          <ticker value="TRTN"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179316.78</valUSD>
        <pctVal>0.0059532102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WORLD OMNI AUTO REC 4.07%</name>
        <lei>N/A</lei>
        <title>WORLD OMNI AUTO REC 4.07%</title>
        <cusip>98165HAE7</cusip>
        <identifiers>
          <isin value="US98165HAE71"/>
          <ticker value="WOART"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98947.2</valUSD>
        <pctVal>0.0032849881</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.070000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL BANK 3.50%</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>INTERNATIONAL BANK 3.50%</title>
        <cusip>U4586CVN1</cusip>
        <identifiers>
          <isin value="USU4586CVN10"/>
          <ticker value="IBRD"/>
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        <name>COMMONSPIRIT HEALT 4.352%</name>
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        <name>FANNIE MAE POOL 2.00%</name>
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        <name>GINNIE MAE II POOL 3.00%</name>
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        <name>FANNIE MAE POOL 3.50%</name>
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        <name>FREDDIE MAC POOL 2.50%</name>
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        <name>CENOVUS ENERGY INC 3.75%</name>
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        <name>GINNIE MAE II POOL 2.50%</name>
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        <name>GINNIE MAE II POOL 2.00%</name>
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        <name>FANNIE MAE POOL 2.00%</name>
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        <name>AERCAP IRELAND CAP. 3.00%</name>
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        <name>HOME DEPOT INC/THE 5.95%</name>
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        <name>EQUINOR ASA 4.25%</name>
        <lei>OW6OFBNCKXC4US5C7523</lei>
        <title>EQUINOR ASA 4.25%</title>
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        <name>EMERA US FIN. LP 2.639%</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <name>MERCK &amp; CO INC 2.15%</name>
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        <curCd>USD</curCd>
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        <name>FEDERAL REALTY OP 5.375%</name>
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        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>AFRICAN DEVELOPMEN 4.375%</name>
        <lei>549300LNCLMO3ITVCU07</lei>
        <title>AFRICAN DEVELOPMEN 4.375%</title>
        <cusip>00828EER6</cusip>
        <identifiers>
          <isin value="US00828EER62"/>
          <ticker value="AFDB"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1002893.97</valUSD>
        <pctVal>0.0332954820</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL BANK 3.50%</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>INTERNATIONAL BANK 3.50%</title>
        <cusip>459058KT9</cusip>
        <identifiers>
          <isin value="US459058KT95"/>
          <ticker value="IBRD"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1974163.04</valUSD>
        <pctVal>0.0655410361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROVINCE OF QUEBEC 3.625%</name>
        <lei>549300WN65YFEQH74Y36</lei>
        <title>PROVINCE OF QUEBEC 3.625%</title>
        <cusip>748148SD6</cusip>
        <identifiers>
          <isin value="US748148SD69"/>
          <ticker value="Q"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>247397.63</valUSD>
        <pctVal>0.0082134538</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. IN F2F</title>
        <cusip>38141GZN7</cusip>
        <identifiers>
          <isin value="US38141GZN77"/>
          <ticker value="GS"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>305994.88</valUSD>
        <pctVal>0.0101588476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.436000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>3140XKEV8</cusip>
        <identifiers>
          <isin value="US3140XKEV84"/>
          <ticker value="FNMA"/>
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        <balance>520307.72</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>525743.69</valUSD>
        <pctVal>0.0174543771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TAKE-TWO INTERACTIV 4.95%</name>
        <lei>BOMSTHHJK882EWYX3334</lei>
        <title>TAKE-TWO INTERACTIV 4.95%</title>
        <cusip>874054AK5</cusip>
        <identifiers>
          <isin value="US874054AK58"/>
          <ticker value="TTWO"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>401745.48</valUSD>
        <pctVal>0.0133377105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31419EJT7</cusip>
        <identifiers>
          <isin value="US31419EJT73"/>
          <ticker value="FNMA"/>
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        <balance>33143.38</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32776.33</valUSD>
        <pctVal>0.0010881546</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179SNT0</cusip>
        <identifiers>
          <isin value="US36179SNT05"/>
          <ticker value="GNR"/>
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        <balance>32929.99</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28633.43</valUSD>
        <pctVal>0.0009506128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3140HCCP9</cusip>
        <identifiers>
          <isin value="US3140HCCP92"/>
          <ticker value="FNMA"/>
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        <balance>142848.39</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>135252</valUSD>
        <pctVal>0.0044902858</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>3132DMJE6</cusip>
        <identifiers>
          <isin value="US3132DMJE66"/>
          <ticker value="FHLMC"/>
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        <balance>195840.88</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>173901.75</valUSD>
        <pctVal>0.0057734344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3132DMS22</cusip>
        <identifiers>
          <isin value="US3132DMS228"/>
          <ticker value="FHLMC"/>
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        <balance>2728267.56</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2184221.16</valUSD>
        <pctVal>0.0725148405</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STRYKER CORP 3.65%</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>STRYKER CORP 3.65%</title>
        <cusip>863667AQ4</cusip>
        <identifiers>
          <isin value="US863667AQ47"/>
          <ticker value="SYK"/>
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        <balance>152000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>149870.53</valUSD>
        <pctVal>0.0049756123</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EVERGY METRO INC 4.20%</name>
        <lei>1128SIJQ26096WL7IO82</lei>
        <title>EVERGY METRO INC 4.20%</title>
        <cusip>485134BR0</cusip>
        <identifiers>
          <isin value="US485134BR00"/>
          <ticker value="EVRG"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>241363.77</valUSD>
        <pctVal>0.0080131333</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THERMO FISHER SCIEN 4.20%</name>
        <lei>HCHV7422L5HDJZCRFL38</lei>
        <title>THERMO FISHER SCIEN 4.20%</title>
        <cusip>883556DC3</cusip>
        <identifiers>
          <isin value="US883556DC34"/>
          <ticker value="TMO"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>245357.89</valUSD>
        <pctVal>0.0081457357</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BROADCOM INC 2.45%</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>BROADCOM INC 2.45%</title>
        <cusip>11135FCQ2</cusip>
        <identifiers>
          <isin value="US11135FCQ28"/>
          <ticker value="AVGO"/>
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        <balance>1024000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>926502.76</valUSD>
        <pctVal>0.0307593393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PECO ENERGY CO 3.90%</name>
        <lei>YH65D4JBECK76IFEJ279</lei>
        <title>PECO ENERGY CO 3.90%</title>
        <cusip>693304AW7</cusip>
        <identifiers>
          <isin value="US693304AW72"/>
          <ticker value="EXC"/>
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        <balance>610000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>472943.33</valUSD>
        <pctVal>0.0157014366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.900000000000</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>FIRST-CITIZENS BAN 6.125%</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>FIRST-CITIZENS BAN 6.125%</title>
        <cusip>125581GX0</cusip>
        <identifiers>
          <isin value="US125581GX07"/>
          <ticker value="FCNCA"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50934.85</valUSD>
        <pctVal>0.0016910067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.125000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP COMMER. 4.009%</name>
        <lei>N/A</lei>
        <title>CITIGROUP COMMER. 4.009%</title>
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          <isin value="US17327FAD87"/>
          <ticker value="UBSC"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>LENNAR CORP 4.75%</name>
        <lei>529900G61XVRLX5TJX09</lei>
        <title>LENNAR CORP 4.75%</title>
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        <identifiers>
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          <ticker value="LEN"/>
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        <curCd>USD</curCd>
        <valUSD>200339.73</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>CRH AMERICA FIN. IN 5.60%</name>
        <lei>549300WEVUODRJ4CWK56</lei>
        <title>CRH AMERICA FIN. IN 5.60%</title>
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        <curCd>USD</curCd>
        <valUSD>244181.71</valUSD>
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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>FREDDIE MAC POOL 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3142GVGD7</cusip>
        <identifiers>
          <isin value="US3142GVGD72"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>2487851.03</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UBS COMMERCIAL MO 4.3344%</name>
        <lei>N/A</lei>
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          <ticker value="UBSCM"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197170.7</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BENCHMARK 2018-B6 MTG VAR</name>
        <lei>N/A</lei>
        <title>BENCHMARK 2018-B6 MTG VAR</title>
        <cusip>08162CAG5</cusip>
        <identifiers>
          <isin value="US08162CAG50"/>
          <ticker value="BMARK"/>
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        <balance>125000</balance>
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        <curCd>USD</curCd>
        <valUSD>118167.54</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>BMW VEHICLE LEASE T 3.97%</name>
        <lei>N/A</lei>
        <title>BMW VEHICLE LEASE T 3.97%</title>
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        <identifiers>
          <isin value="US05594HAD52"/>
          <ticker value="BMWLT"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49837.4</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137HNN87</cusip>
        <identifiers>
          <isin value="US3137HNN870"/>
          <ticker value="FHMS"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297726.12</valUSD>
        <pctVal>0.0098843297</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.600000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140W2W80</cusip>
        <identifiers>
          <isin value="US3140W2W800"/>
          <ticker value="FN"/>
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        <balance>1361365.68</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1236880.66</valUSD>
        <pctVal>0.0410637006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>PHILIP MORRIS INTL 4.625%</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTL 4.625%</title>
        <cusip>718172EA3</cusip>
        <identifiers>
          <isin value="US718172EA37"/>
          <ticker value="PM"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>385103.52</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-29</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GM FINL. CONSUMER A 3.93%</name>
        <lei>N/A</lei>
        <title>GM FINL. CONSUMER A 3.93%</title>
        <cusip>36273EAE3</cusip>
        <identifiers>
          <isin value="US36273EAE32"/>
          <ticker value="GMCAR"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98221.91</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-16</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>SOUTHERN CALIFORNIA 5.55%</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>SOUTHERN CALIFORNIA 5.55%</title>
        <cusip>842400FF5</cusip>
        <identifiers>
          <isin value="US842400FF58"/>
          <ticker value="EIX"/>
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        <balance>275000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>274175.59</valUSD>
        <pctVal>0.0091024662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.550000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3133KNBH5</cusip>
        <identifiers>
          <isin value="US3133KNBH52"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1774317.03</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMEREN ILLINOIS CO 3.85%</name>
        <lei>RC71E2BZ6UOMFPDJSE79</lei>
        <title>AMEREN ILLINOIS CO 3.85%</title>
        <cusip>02361DAY6</cusip>
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          <isin value="US02361DAY67"/>
          <ticker value="AEE"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>475290.04</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418ELD0</cusip>
        <identifiers>
          <isin value="US31418ELD03"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>145593.98</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140KAZU3</cusip>
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          <isin value="US3140KAZU38"/>
          <ticker value="FNMA"/>
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        <valUSD>303738.91</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>3140N6DV1</cusip>
        <identifiers>
          <isin value="US3140N6DV11"/>
          <ticker value="FNMA"/>
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        <balance>626853.9</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>651488.44</valUSD>
        <pctVal>0.0216290279</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>REALTY INCOME CORP 4.90%</name>
        <lei>549300CUWDAUZSH43859</lei>
        <title>REALTY INCOME CORP 4.90%</title>
        <cusip>756109BT0</cusip>
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          <isin value="US756109BT03"/>
          <ticker value="O"/>
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        <curCd>USD</curCd>
        <valUSD>298227.14</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31410VDW7</cusip>
        <identifiers>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>6988.6</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA COR 6.11%</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <cusip>59022CAJ2</cusip>
        <identifiers>
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          <ticker value="BAC"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>157884.61</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-01-29</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36202FUE4</cusip>
        <identifiers>
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        <balance>75960.29</balance>
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        <curCd>USD</curCd>
        <valUSD>73005.97</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 4.50%</title>
        <cusip>36296XVF8</cusip>
        <identifiers>
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          <ticker value="GNR"/>
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        <balance>146877.29</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145435.72</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WISCONSIN ELECTRIC 4.30%</name>
        <lei>AENKIFMULUAWOUU8Q584</lei>
        <title>WISCONSIN ELECTRIC 4.30%</title>
        <cusip>976656CK2</cusip>
        <identifiers>
          <isin value="US976656CK28"/>
          <ticker value="WEC"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82479.21</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138YYNA7</cusip>
        <identifiers>
          <isin value="US3138YYNA77"/>
          <ticker value="FNMA"/>
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        <balance>151948.53</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146963.17</valUSD>
        <pctVal>0.0048790896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>3132A5E43</cusip>
        <identifiers>
          <isin value="US3132A5E435"/>
          <ticker value="FHLB"/>
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        <balance>158254.41</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146835.97</valUSD>
        <pctVal>0.0048748667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140JVD33</cusip>
        <identifiers>
          <isin value="US3140JVD338"/>
          <ticker value="FNMA"/>
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        <balance>90360.25</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82897.83</valUSD>
        <pctVal>0.0027521585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WELLS FARGO BANK NA 5.85%</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
        <title>WELLS FARGO BANK NA 5.85%</title>
        <cusip>92976GAG6</cusip>
        <identifiers>
          <isin value="US92976GAG64"/>
          <ticker value="WFC"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>518778.51</valUSD>
        <pctVal>0.0172231373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VODAFONE GRP. PLC 6.15%</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>VODAFONE GRP. PLC 6.15%</title>
        <cusip>92857WAQ3</cusip>
        <identifiers>
          <isin value="US92857WAQ33"/>
          <ticker value="VOD"/>
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        <balance>59000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62364.72</valUSD>
        <pctVal>0.0020704715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31410V2L3</cusip>
        <identifiers>
          <isin value="US31410V2L38"/>
          <ticker value="FNMA"/>
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        <balance>12885.79</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12994.74</valUSD>
        <pctVal>0.0004314176</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PERUVIAN GOV. INTL. 6.55%</name>
        <lei>254900STKLK2DBJJZ530</lei>
        <title>PERUVIAN GOV. INTL. 6.55%</title>
        <cusip>715638AU6</cusip>
        <identifiers>
          <isin value="US715638AU64"/>
          <ticker value="PERU"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>547175</valUSD>
        <pctVal>0.0181658838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CSX CORP 6.15%</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX CORP 6.15%</title>
        <cusip>126408GK3</cusip>
        <identifiers>
          <isin value="US126408GK35"/>
          <ticker value="CSX"/>
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        <balance>190000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>205271.29</valUSD>
        <pctVal>0.0068148845</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VIRGINIA ELEC. AND 6.00%</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>VIRGINIA ELEC. AND 6.00%</title>
        <cusip>927804FB5</cusip>
        <identifiers>
          <isin value="US927804FB53"/>
          <ticker value="D"/>
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        <balance>15000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15797.1</valUSD>
        <pctVal>0.0005244543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TRAVELERS COS INC/T 6.25%</name>
        <lei>549300Y650407RU8B149</lei>
        <title>TRAVELERS COS INC/T 6.25%</title>
        <cusip>89417EAD1</cusip>
        <identifiers>
          <isin value="US89417EAD13"/>
          <ticker value="TRV"/>
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        <balance>375000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>408845.62</valUSD>
        <pctVal>0.0135734309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY CAROLIN 6.10%</name>
        <lei>MWIUSDMN17TCR56VW396</lei>
        <title>DUKE ENERGY CAROLIN 6.10%</title>
        <cusip>26442CAA2</cusip>
        <identifiers>
          <isin value="US26442CAA27"/>
          <ticker value="DUK"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>159259.05</valUSD>
        <pctVal>0.0052873055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.100000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MCCORMICK INC/MD 4.95%</name>
        <lei>549300JQQA6MQ4OJP259</lei>
        <title>MCCORMICK INC/MD 4.95%</title>
        <cusip>579780AT4</cusip>
        <identifiers>
          <isin value="US579780AT48"/>
          <ticker value="MKC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199430.55</valUSD>
        <pctVal>0.0066209754</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36181LUW6</cusip>
        <identifiers>
          <isin value="US36181LUW61"/>
          <ticker value="GNR"/>
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        <balance>333356.8</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>315225.07</valUSD>
        <pctVal>0.0104652844</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.50%</title>
        <cusip>3128LXJN1</cusip>
        <identifiers>
          <isin value="US3128LXJN19"/>
          <ticker value="FHLMC"/>
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        <balance>3891.12</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4008.25</valUSD>
        <pctVal>0.0001330715</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REYNOLDS AMERICAN I 7.25%</name>
        <lei>02S2RPPVO9RP4NEU2740</lei>
        <title>REYNOLDS AMERICAN I 7.25%</title>
        <cusip>761713AT3</cusip>
        <identifiers>
          <isin value="US761713AT36"/>
          <ticker value="BATSLN"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>284404.89</valUSD>
        <pctVal>0.0094420728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.00%</title>
        <cusip>31296RQE1</cusip>
        <identifiers>
          <isin value="US31296RQE17"/>
          <ticker value="FHLMC"/>
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        <balance>19010.79</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18950.77</valUSD>
        <pctVal>0.0006291543</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BLACKSTONE PRIVATE 6.00%</name>
        <lei>549300ORP3TTCNXSYO43</lei>
        <title>BLACKSTONE PRIVATE 6.00%</title>
        <cusip>09261HBX4</cusip>
        <identifiers>
          <isin value="US09261HBX44"/>
          <ticker value="BCRED"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197108.05</valUSD>
        <pctVal>0.0065438698</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>31419BCT0</cusip>
        <identifiers>
          <isin value="US31419BCT08"/>
          <ticker value="FNMA"/>
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        <balance>153728.72</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>144169.04</valUSD>
        <pctVal>0.0047863262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36202F2M7</cusip>
        <identifiers>
          <isin value="US36202F2M77"/>
          <ticker value="GNR"/>
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        <balance>82159.42</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>78558.65</valUSD>
        <pctVal>0.0026081004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCK &amp; CO INC 3.60%</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MERCK &amp; CO INC 3.60%</title>
        <cusip>589331AS6</cusip>
        <identifiers>
          <isin value="US589331AS67"/>
          <ticker value="MRK"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20006.16</valUSD>
        <pctVal>0.0006641926</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BERKSHIRE HATHAWAY 4.30%</name>
        <lei>549300RLHFT5RU20WM87</lei>
        <title>BERKSHIRE HATHAWAY 4.30%</title>
        <cusip>084664BV2</cusip>
        <identifiers>
          <isin value="US084664BV29"/>
          <ticker value="BRK"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>264714.92</valUSD>
        <pctVal>0.0087883775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179XVQ6</cusip>
        <identifiers>
          <isin value="US36179XVQ68"/>
          <ticker value="GNR"/>
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        <balance>1437051.32</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1350378.06</valUSD>
        <pctVal>0.0448317466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179VAK6</cusip>
        <identifiers>
          <isin value="US36179VAK61"/>
          <ticker value="GNR"/>
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        <balance>25190.71</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23996.24</valUSD>
        <pctVal>0.0007966609</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORTHROP GRUMMAN CO 4.75%</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>NORTHROP GRUMMAN CO 4.75%</title>
        <cusip>666807BH4</cusip>
        <identifiers>
          <isin value="US666807BH45"/>
          <ticker value="NOC"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>227835.28</valUSD>
        <pctVal>0.0075639955</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179NF60</cusip>
        <identifiers>
          <isin value="US36179NF606"/>
          <ticker value="GNR"/>
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        <balance>278582.63</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>253489.55</valUSD>
        <pctVal>0.0084157020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROCKWELL AUTOMATION 4.20%</name>
        <lei>VH3R4HHBHH12O0EXZJ88</lei>
        <title>ROCKWELL AUTOMATION 4.20%</title>
        <cusip>773903AJ8</cusip>
        <identifiers>
          <isin value="US773903AJ82"/>
          <ticker value="ROK"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83178.83</valUSD>
        <pctVal>0.0027614876</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADVOCATE HEALTH &amp; 3.008%</name>
        <lei>549300AEHU3PPOUCIL87</lei>
        <title>ADVOCATE HEALTH &amp; 3.008%</title>
        <cusip>007589AE4</cusip>
        <identifiers>
          <isin value="US007589AE40"/>
          <ticker value="ADVHEA"/>
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        <balance>265000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>175711.92</valUSD>
        <pctVal>0.0058335310</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.008000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ONEOK INC 7.15%</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK INC 7.15%</title>
        <cusip>682680BF9</cusip>
        <identifiers>
          <isin value="US682680BF95"/>
          <ticker value="OKE"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>443457.96</valUSD>
        <pctVal>0.0147225399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.150000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STARBUCKS CORP 3.50%</name>
        <lei>OQSJ1DU9TAOC51A47K68</lei>
        <title>STARBUCKS CORP 3.50%</title>
        <cusip>855244BA6</cusip>
        <identifiers>
          <isin value="US855244BA67"/>
          <ticker value="SBUX"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>419681.11</valUSD>
        <pctVal>0.0139331627</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PHILIPPINE GOV. IN 6.375%</name>
        <lei>529900RAHBALMYIJ3T08</lei>
        <title>PHILIPPINE GOV. IN 6.375%</title>
        <cusip>718286BG1</cusip>
        <identifiers>
          <isin value="US718286BG11"/>
          <ticker value="PHILIP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>538329.18</valUSD>
        <pctVal>0.0178722079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-10-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179QBG5</cusip>
        <identifiers>
          <isin value="US36179QBG55"/>
          <ticker value="GNR"/>
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        <balance>58257.72</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55845.26</valUSD>
        <pctVal>0.0018540293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179QYT2</cusip>
        <identifiers>
          <isin value="US36179QYT20"/>
          <ticker value="GNR"/>
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        <balance>74507.4</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>71541.88</valUSD>
        <pctVal>0.0023751478</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCK INC 3.40%</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MERCK INC 3.40%</title>
        <cusip>58933YAX3</cusip>
        <identifiers>
          <isin value="US58933YAX31"/>
          <ticker value="MRK"/>
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        <balance>389000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>379388.11</valUSD>
        <pctVal>0.0125954591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3140QPDK0</cusip>
        <identifiers>
          <isin value="US3140QPDK09"/>
          <ticker value="FNMA"/>
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        <balance>178401.98</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>168875.04</valUSD>
        <pctVal>0.0056065507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WALMART INC 4.50%</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>WALMART INC 4.50%</title>
        <cusip>931142FE8</cusip>
        <identifiers>
          <isin value="US931142FE87"/>
          <ticker value="WMT"/>
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        <balance>190000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>165085.08</valUSD>
        <pctVal>0.0054807262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="131774.070000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
        <cusip>3133C6TQ2</cusip>
        <identifiers>
          <isin value="US3133C6TQ26"/>
          <ticker value="FHLMC"/>
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        <balance>792587.09</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>783056.83</valUSD>
        <pctVal>0.0259970200</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>3140NL4J5</cusip>
        <identifiers>
          <isin value="US3140NL4J51"/>
          <ticker value="FNMA"/>
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        <balance>692293.29</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>699473.37</valUSD>
        <pctVal>0.0232220989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCK INC 4.00%</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MERCK INC 4.00%</title>
        <cusip>58933YAW5</cusip>
        <identifiers>
          <isin value="US58933YAW57"/>
          <ticker value="MRK"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>397835.78</valUSD>
        <pctVal>0.0132079107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WEBSTER FINANCIAL C 4.10%</name>
        <lei>KMRURHT0VWKYS6Z5KU67</lei>
        <title>WEBSTER FINANCIAL C 4.10%</title>
        <cusip>947890AJ8</cusip>
        <identifiers>
          <isin value="US947890AJ87"/>
          <ticker value="WBS"/>
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        <balance>30000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>29318.25</valUSD>
        <pctVal>0.0009733484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CATERPILLAR INC 3.25%</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>CATERPILLAR INC 3.25%</title>
        <cusip>149123CF6</cusip>
        <identifiers>
          <isin value="US149123CF65"/>
          <ticker value="CAT"/>
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        <balance>220000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>156413.69</valUSD>
        <pctVal>0.0051928413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WALMART INC 2.95%</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>WALMART INC 2.95%</title>
        <cusip>931142EP4</cusip>
        <identifiers>
          <isin value="US931142EP44"/>
          <ticker value="WMT"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>134234.93</valUSD>
        <pctVal>0.0044565197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; CO F2F</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO F2F</title>
        <cusip>95000U2Q5</cusip>
        <identifiers>
          <isin value="US95000U2Q52"/>
          <ticker value="WFC"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>76366.13</valUSD>
        <pctVal>0.0025353100</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.068000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CONTINENTAL RESOUR 4.375%</name>
        <lei>XXRTID9RYWOZ0UPIVR53</lei>
        <title>CONTINENTAL RESOUR 4.375%</title>
        <cusip>212015AS0</cusip>
        <identifiers>
          <isin value="US212015AS02"/>
          <ticker value="CLR"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198636.37</valUSD>
        <pctVal>0.0065946091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179TXU4</cusip>
        <identifiers>
          <isin value="US36179TXU41"/>
          <ticker value="GNR"/>
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        <balance>239641.43</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>220312.87</valUSD>
        <pctVal>0.0073142560</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>AMAZON.COM INC 4.25%</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFA 3.75%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137FG6T7</cusip>
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      <invstOrSec>
        <name>PACKAGING CORP OF A 3.05%</name>
        <lei>549300XZP8MFZFY8TJ84</lei>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EPR PROPERTIES 3.60%</name>
        <lei>549300YSSXFHMPOWZ492</lei>
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        <curCd>USD</curCd>
        <valUSD>228975.57</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BECTON DICKINSON &amp; 4.693%</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
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        <cusip>075887CQ0</cusip>
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          <ticker value="BDX"/>
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        <balance>800000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FREDDIE MAC POOL 1.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>FREDDIE MAC POOL 1.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3132DWBN2</cusip>
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        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3133ALJF6</cusip>
        <identifiers>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>549402.89</valUSD>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>LOWE S COS INC 2.80%</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>LOWE S COS INC 2.80%</title>
        <cusip>548661EE3</cusip>
        <identifiers>
          <isin value="US548661EE32"/>
          <ticker value="LOW"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>142783.2</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNION ELEC. CO 4.00%</name>
        <lei>QMPJLLDULY5C1M8PNY21</lei>
        <title>UNION ELEC. CO 4.00%</title>
        <cusip>906548CN0</cusip>
        <identifiers>
          <isin value="US906548CN08"/>
          <ticker value="AEE"/>
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        <curCd>USD</curCd>
        <valUSD>196513.42</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>36179TZ73</cusip>
        <identifiers>
          <isin value="US36179TZ734"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CITIGROUP COMMERCIAL VAR</name>
        <lei>N/A</lei>
        <title>CITIGROUP COMMERCIAL VAR</title>
        <cusip>17291DAD5</cusip>
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          <ticker value="CGCMT"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>197570.76</valUSD>
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        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3133AC5F1</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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        <name>GINNIE MAE II POOL 2.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.00%</title>
        <cusip>36179WND6</cusip>
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        <curCd>USD</curCd>
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        <name>NORFOLK SOUTHERN CO 5.05%</name>
        <lei>54930036C8MWP850MI84</lei>
        <title>NORFOLK SOUTHERN CO 5.05%</title>
        <cusip>655844CR7</cusip>
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          <ticker value="NSC"/>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
        <valUSD>406257</valUSD>
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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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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANCO SANTANDER SA 6.938%</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>BANCO SANTANDER SA 6.938%</title>
        <cusip>05964HAZ8</cusip>
        <identifiers>
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          <ticker value="SANTAN"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>446092.24</valUSD>
        <pctVal>0.0148099965</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-11-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.938000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>3140XMTX4</cusip>
        <identifiers>
          <isin value="US3140XMTX42"/>
          <ticker value="FNMA"/>
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        <balance>285445.32</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>296120.8</valUSD>
        <pctVal>0.0098310340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GXO LOGISTICS INC 6.50%</name>
        <lei>5493007CNWMXN78JRN66</lei>
        <title>GXO LOGISTICS INC 6.50%</title>
        <cusip>36262GAG6</cusip>
        <identifiers>
          <isin value="US36262GAG64"/>
          <ticker value="GXO"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>209749.76</valUSD>
        <pctVal>0.0069635670</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31402Q5T4</cusip>
        <identifiers>
          <isin value="US31402Q5T42"/>
          <ticker value="FNMA"/>
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        <balance>21658.54</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21848.46</valUSD>
        <pctVal>0.0007253558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL NATL. MTGE 5.625%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FEDERAL NATL. MTGE 5.625%</title>
        <cusip>31398AFD9</cusip>
        <identifiers>
          <isin value="US31398AFD90"/>
          <ticker value="FNMA"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>272395.77</valUSD>
        <pctVal>0.0090433772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE I POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 5.50%</title>
        <cusip>36292LBW3</cusip>
        <identifiers>
          <isin value="US36292LBW37"/>
          <ticker value="GNR"/>
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        <balance>2811.82</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2919.6</valUSD>
        <pctVal>0.0000969290</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31413HJV1</cusip>
        <identifiers>
          <isin value="US31413HJV15"/>
          <ticker value="FNMA"/>
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        <balance>3464.41</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3536.24</valUSD>
        <pctVal>0.0001174011</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BBCMS MTGE. TST. 2 6.014%</name>
        <lei>N/A</lei>
        <title>BBCMS MTGE. TST. 2 6.014%</title>
        <cusip>05555FAC8</cusip>
        <identifiers>
          <isin value="US05555FAC86"/>
          <ticker value="BBCMS"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>513779.2</valUSD>
        <pctVal>0.0170571632</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.014000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BLACKROCK FNDG. INC 4.90%</name>
        <lei>529900VBK42Y5HHRMD23</lei>
        <title>BLACKROCK FNDG. INC 4.90%</title>
        <cusip>09290DAJ0</cusip>
        <identifiers>
          <isin value="US09290DAJ00"/>
          <ticker value="BLK"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199957.02</valUSD>
        <pctVal>0.0066384539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PEL6</cusip>
        <identifiers>
          <isin value="US46647PEL67"/>
          <ticker value="JPM"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>251096.32</valUSD>
        <pctVal>0.0083362481</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.979000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NOVARTIS CAP. CORP 4.70%</name>
        <lei>5493002KF87V5RSRQS84</lei>
        <title>NOVARTIS CAP. CORP 4.70%</title>
        <cusip>66989HAW8</cusip>
        <identifiers>
          <isin value="US66989HAW88"/>
          <ticker value="NOVNVX"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>264219.6</valUSD>
        <pctVal>0.0087719332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENTERPRISE PRODS. O 7.55%</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>ENTERPRISE PRODS. O 7.55%</title>
        <cusip>29379VAM5</cusip>
        <identifiers>
          <isin value="US29379VAM54"/>
          <ticker value="EPD"/>
        </identifiers>
        <balance>515000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>608962.5</valUSD>
        <pctVal>0.0202171920</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31417VPC1</cusip>
        <identifiers>
          <isin value="US31417VPC18"/>
          <ticker value="FNMA"/>
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        <balance>79469.95</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80143.12</valUSD>
        <pctVal>0.0026607038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTHERN COPPER COR 6.75%</name>
        <lei>2549007U6NAP46Q9TU15</lei>
        <title>SOUTHERN COPPER COR 6.75%</title>
        <cusip>84265VAE5</cusip>
        <identifiers>
          <isin value="US84265VAE56"/>
          <ticker value="SCCO"/>
        </identifiers>
        <balance>90000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99535.68</valUSD>
        <pctVal>0.0033045252</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SHELL INTL. FIN. B 3.625%</name>
        <lei>213800ITMMKU4Z7I4F78</lei>
        <title>SHELL INTL. FIN. B 3.625%</title>
        <cusip>822582AT9</cusip>
        <identifiers>
          <isin value="US822582AT91"/>
          <ticker value="RDSALN"/>
        </identifiers>
        <balance>230000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>182196.97</valUSD>
        <pctVal>0.0060488308</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CATERPILLAR INC 3.803%</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>CATERPILLAR INC 3.803%</title>
        <cusip>149123CB5</cusip>
        <identifiers>
          <isin value="US149123CB51"/>
          <ticker value="CAT"/>
        </identifiers>
        <balance>185000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153635.15</valUSD>
        <pctVal>0.0051005954</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.803000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PHILLIPS 66 5.875%</name>
        <lei>5493005JBO5YSIGK1814</lei>
        <title>PHILLIPS 66 5.875%</title>
        <cusip>718546AH7</cusip>
        <identifiers>
          <isin value="US718546AH74"/>
          <ticker value="PSX"/>
        </identifiers>
        <balance>140000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>141906.26</valUSD>
        <pctVal>0.0047112032</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875000000000</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>PHILIP MORRIS INTL 4.125%</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTL 4.125%</title>
        <cusip>718172AW9</cusip>
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          <isin value="US718172AW92"/>
          <ticker value="PM"/>
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        <curCd>USD</curCd>
        <valUSD>496175.27</valUSD>
        <pctVal>0.0164727232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-04</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>STRYKER CORP 4.10%</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>STRYKER CORP 4.10%</title>
        <cusip>863667AE1</cusip>
        <identifiers>
          <isin value="US863667AE17"/>
          <ticker value="SYK"/>
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        <balance>50000</balance>
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        <curCd>USD</curCd>
        <valUSD>41765.76</valUSD>
        <pctVal>0.0013865983</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FISERV INC 5.15%</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>FISERV INC 5.15%</title>
        <cusip>337738BN7</cusip>
        <identifiers>
          <isin value="US337738BN72"/>
          <ticker value="FISV"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>485563.61</valUSD>
        <pctVal>0.0161204224</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. IN F2F</title>
        <cusip>38141GC51</cusip>
        <identifiers>
          <isin value="US38141GC514"/>
          <ticker value="GS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>491896.57</valUSD>
        <pctVal>0.0163306729</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-01-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.734000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="182506.230000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>US BANCORP F2F</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP F2F</title>
        <cusip>91159HJU5</cusip>
        <identifiers>
          <isin value="US91159HJU59"/>
          <ticker value="USB"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>305384.85</valUSD>
        <pctVal>0.0101385950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.424000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="206739.510000000000"/>
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      <invstOrSec>
        <name>EXELON CORP 5.875%</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>EXELON CORP 5.875%</title>
        <cusip>30161NBS9</cusip>
        <identifiers>
          <isin value="US30161NBS99"/>
          <ticker value="EXC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197985.72</valUSD>
        <pctVal>0.0065730079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SYNOPSYS INC 4.65%</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
        <title>SYNOPSYS INC 4.65%</title>
        <cusip>871607AB3</cusip>
        <identifiers>
          <isin value="US871607AB32"/>
          <ticker value="SNPS"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>400429.82</valUSD>
        <pctVal>0.0132940313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC HLDGS. PLC F2F</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HLDGS. PLC F2F</title>
        <cusip>404280ER6</cusip>
        <identifiers>
          <isin value="US404280ER67"/>
          <ticker value="HSBC"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502996.92</valUSD>
        <pctVal>0.0166991979</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.130000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN EXPRESS CO F2F</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>AMERICAN EXPRESS CO F2F</title>
        <cusip>025816EH8</cusip>
        <identifiers>
          <isin value="US025816EH81"/>
          <ticker value="AXP"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>310718.78</valUSD>
        <pctVal>0.0103156783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.667000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; CO F2F</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO F2F</title>
        <cusip>95000U3V3</cusip>
        <identifiers>
          <isin value="US95000U3V39"/>
          <ticker value="WFC"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>307506.18</valUSD>
        <pctVal>0.0102090219</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.605000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VERIZON COMMS. INC 4.78%</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMS. INC 4.78%</title>
        <cusip>92343VGY4</cusip>
        <identifiers>
          <isin value="US92343VGY48"/>
          <ticker value="VZ"/>
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        <balance>1465000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1417080.61</valUSD>
        <pctVal>0.0470462315</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.780000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KREDITANSTALT FUER 4.625%</name>
        <lei>549300GDPG70E3MBBU98</lei>
        <title>KREDITANSTALT FUER 4.625%</title>
        <cusip>500769KH6</cusip>
        <identifiers>
          <isin value="US500769KH66"/>
          <ticker value="KFW"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1014407.02</valUSD>
        <pctVal>0.0336777084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO COMMER 6.096%</name>
        <lei>N/A</lei>
        <title>WELLS FARGO COMMER 6.096%</title>
        <cusip>95004JAC8</cusip>
        <identifiers>
          <isin value="US95004JAC80"/>
          <ticker value="WFCM"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>258982.45</valUSD>
        <pctVal>0.0085980630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-01-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.096000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VERIZON MASTER TRUS 4.71%</name>
        <lei>5493007MUBNP1GFMEB89</lei>
        <title>VERIZON MASTER TRUS 4.71%</title>
        <cusip>92348KDR1</cusip>
        <identifiers>
          <isin value="US92348KDR14"/>
          <ticker value="VZMT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100551.67</valUSD>
        <pctVal>0.0033382555</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.710000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EVERGY KANSAS CENTR 5.25%</name>
        <lei>J75GNWGEO73W89ZV3S44</lei>
        <title>EVERGY KANSAS CENTR 5.25%</title>
        <cusip>30036FAD3</cusip>
        <identifiers>
          <isin value="US30036FAD33"/>
          <ticker value="EVRG"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200977.82</valUSD>
        <pctVal>0.0066723438</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>T-MOBILE USA INC 5.875%</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 5.875%</title>
        <cusip>87264ADU6</cusip>
        <identifiers>
          <isin value="US87264ADU60"/>
          <ticker value="TMUS"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>292124.9</valUSD>
        <pctVal>0.0096983725</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELEVANCE HEALTH INC 4.60%</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>ELEVANCE HEALTH INC 4.60%</title>
        <cusip>036752BJ1</cusip>
        <identifiers>
          <isin value="US036752BJ10"/>
          <ticker value="ELV"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>245333.43</valUSD>
        <pctVal>0.0081449236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.600000000000</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>PLAINS ALL AMERICAN 5.60%</name>
        <lei>N/A</lei>
        <title>PLAINS ALL AMERICAN 5.60%</title>
        <cusip>72650RBS0</cusip>
        <identifiers>
          <isin value="US72650RBS04"/>
          <ticker value="PAA"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250707.85</valUSD>
        <pctVal>0.0083233512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE MULTI-A 4.02%</name>
        <lei>R42WS16M9R97TJJKGU15</lei>
        <title>CAPITAL ONE MULTI-A 4.02%</title>
        <cusip>14041NGG0</cusip>
        <identifiers>
          <isin value="US14041NGG07"/>
          <ticker value="COMET"/>
        </identifiers>
        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>73769.38</valUSD>
        <pctVal>0.0024490994</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.020000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HYUNDAI AUTO RECEIV 3.89%</name>
        <lei>N/A</lei>
        <title>HYUNDAI AUTO RECEIV 3.89%</title>
        <cusip>44935JAE6</cusip>
        <identifiers>
          <isin value="US44935JAE64"/>
          <ticker value="HART"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49215.76</valUSD>
        <pctVal>0.0016339339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.890000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC 5.70%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 5.70%</title>
        <cusip>00206RNE8</cusip>
        <identifiers>
          <isin value="US00206RNE89"/>
          <ticker value="T"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>371840.3</valUSD>
        <pctVal>0.0123448763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</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>BANK OF MONTREAL F2F</name>
        <lei>NQQ6HPCNCCU6TUTQYE16</lei>
        <title>BANK OF MONTREAL F2F</title>
        <cusip>06368MXV1</cusip>
        <identifiers>
          <isin value="US06368MXV17"/>
          <ticker value="BMO"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>492024.19</valUSD>
        <pctVal>0.0163349098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DRIVE AUTO RECEIVAB 4.39%</name>
        <lei>N/A</lei>
        <title>DRIVE AUTO RECEIVAB 4.39%</title>
        <cusip>262103AF1</cusip>
        <identifiers>
          <isin value="US262103AF13"/>
          <ticker value="DRIVE"/>
        </identifiers>
        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24765.53</valUSD>
        <pctVal>0.0008222008</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.390000000000</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>COMCAST CORP 6.05%</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP 6.05%</title>
        <cusip>20030NEQ0</cusip>
        <identifiers>
          <isin value="US20030NEQ07"/>
          <ticker value="CMCSA"/>
        </identifiers>
        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>573849.13</valUSD>
        <pctVal>0.0190514490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="475406.700000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DTE ELEC. CO 5.25%</name>
        <lei>9N0FWODEJVKHC2DYLO03</lei>
        <title>DTE ELEC. CO 5.25%</title>
        <cusip>23338VAY2</cusip>
        <identifiers>
          <isin value="US23338VAY20"/>
          <ticker value="DTE"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202314.65</valUSD>
        <pctVal>0.0067167258</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</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>SCE REC. FNDG. LLC 5.541%</name>
        <lei>N/A</lei>
        <title>SCE REC. FNDG. LLC 5.541%</title>
        <cusip>78433LAL0</cusip>
        <identifiers>
          <isin value="US78433LAL09"/>
          <ticker value="EIX"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49335.87</valUSD>
        <pctVal>0.0016379215</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.541000000000</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>MAPLE PARENT HLDGS. 5.70%</name>
        <lei>N/A</lei>
        <title>MAPLE PARENT HLDGS. 5.70%</title>
        <cusip>56530KAC0</cusip>
        <identifiers>
          <isin value="US56530KAC09"/>
          <ticker value="KDP"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>303718.87</valUSD>
        <pctVal>0.0100832854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="212745.180000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORD CREDIT AUTO OW 4.05%</name>
        <lei>N/A</lei>
        <title>FORD CREDIT AUTO OW 4.05%</title>
        <cusip>34532WAD7</cusip>
        <identifiers>
          <isin value="US34532WAD74"/>
          <ticker value="FORDO"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99280.15</valUSD>
        <pctVal>0.0032960418</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.050000000000</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>VISTRA OPERATIONS C 5.55%</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
        <title>VISTRA OPERATIONS C 5.55%</title>
        <cusip>92840VBC5</cusip>
        <identifiers>
          <isin value="US92840VBC54"/>
          <ticker value="VST"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>497444.65</valUSD>
        <pctVal>0.0165148659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.550000000000</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>TRUIST FINL. CORP F2F</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>TRUIST FINL. CORP F2F</title>
        <cusip>89788MAX0</cusip>
        <identifiers>
          <isin value="US89788MAX02"/>
          <ticker value="TFC"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>493530.99</valUSD>
        <pctVal>0.0163849347</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.680000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXETER AUTOMOBILE R 4.70%</name>
        <lei>N/A</lei>
        <title>EXETER AUTOMOBILE R 4.70%</title>
        <cusip>30167AAD5</cusip>
        <identifiers>
          <isin value="US30167AAD54"/>
          <ticker value="EART"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49914.4</valUSD>
        <pctVal>0.0016571283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</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>GLAXOSMITHKLINE CA 6.375%</name>
        <lei>5493007Q8VD7Q3ZYZS59</lei>
        <title>GLAXOSMITHKLINE CA 6.375%</title>
        <cusip>377372AE7</cusip>
        <identifiers>
          <isin value="US377372AE71"/>
          <ticker value="GSK"/>
        </identifiers>
        <balance>274000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>301641.2</valUSD>
        <pctVal>0.0100143080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000</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>ONCOR ELECTRIC DELI 7.50%</name>
        <lei>549300SP2X2BS1KERD24</lei>
        <title>ONCOR ELECTRIC DELI 7.50%</title>
        <cusip>68233JAF1</cusip>
        <identifiers>
          <isin value="US68233JAF12"/>
          <ticker value="ONCRTX"/>
        </identifiers>
        <balance>145000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>172009.65</valUSD>
        <pctVal>0.0057106178</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.500000000000</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>CITIGROUP INC 8.125%</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 8.125%</title>
        <cusip>172967EW7</cusip>
        <identifiers>
          <isin value="US172967EW71"/>
          <ticker value="C"/>
        </identifiers>
        <balance>332000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>415435.77</valUSD>
        <pctVal>0.0137922199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.125000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31418VWV0</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>36349.81</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>31419CAH6</cusip>
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          <isin value="US31419CAH60"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>231867.89</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE I POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 5.50%</title>
        <cusip>36296QBN8</cusip>
        <identifiers>
          <isin value="US36296QBN88"/>
          <ticker value="GNR"/>
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        <balance>13759.58</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14105.37</valUSD>
        <pctVal>0.0004682899</pctVal>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36202FUF1</cusip>
        <identifiers>
          <isin value="US36202FUF16"/>
          <ticker value="GNR"/>
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        <balance>75571.52</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74376.51</valUSD>
        <pctVal>0.0024692558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BARRICK NORTH AMERI 5.70%</name>
        <lei>N/A</lei>
        <title>BARRICK NORTH AMERI 5.70%</title>
        <cusip>06849RAG7</cusip>
        <identifiers>
          <isin value="US06849RAG74"/>
          <ticker value="ABXCN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>303619.31</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MERCEDES-BENZ AUTO 4.61%</name>
        <lei>N/A</lei>
        <title>MERCEDES-BENZ AUTO 4.61%</title>
        <cusip>58768YAD7</cusip>
        <identifiers>
          <isin value="US58768YAD76"/>
          <ticker value="MBALT"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50156.52</valUSD>
        <pctVal>0.0016651666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.610000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.00%</title>
        <cusip>3128K64H0</cusip>
        <identifiers>
          <isin value="US3128K64H03"/>
          <ticker value="FHLMC"/>
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        <balance>4113.85</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4153.64</valUSD>
        <pctVal>0.0001378984</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31416BRY6</cusip>
        <identifiers>
          <isin value="US31416BRY64"/>
          <ticker value="FNMA"/>
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        <balance>90262.1</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>90142.63</valUSD>
        <pctVal>0.0029926816</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36202F3M6</cusip>
        <identifiers>
          <isin value="US36202F3M68"/>
          <ticker value="GNR"/>
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        <balance>82938.36</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77881.55</valUSD>
        <pctVal>0.0025856210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RIO TINTO FINANCE U 4.75%</name>
        <lei>2138006TSNBEUA761G16</lei>
        <title>RIO TINTO FINANCE U 4.75%</title>
        <cusip>76720AAD8</cusip>
        <identifiers>
          <isin value="US76720AAD81"/>
          <ticker value="RIOLN"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>138520.42</valUSD>
        <pctVal>0.0045987954</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BLUE OWL CAP. CORP 5.95%</name>
        <lei>2549000BD79OOCPF2L94</lei>
        <title>BLUE OWL CAP. CORP 5.95%</title>
        <cusip>69121KAH7</cusip>
        <identifiers>
          <isin value="US69121KAH77"/>
          <ticker value="OBDC"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>399991.53</valUSD>
        <pctVal>0.0132794804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>36202F4A1</cusip>
        <identifiers>
          <isin value="US36202F4A12"/>
          <ticker value="GNR"/>
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        <balance>37242.24</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>38317.39</valUSD>
        <pctVal>0.0012721145</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERISOURCEBERGEN C 4.25%</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>AMERISOURCEBERGEN C 4.25%</title>
        <cusip>03073EAN5</cusip>
        <identifiers>
          <isin value="US03073EAN58"/>
          <ticker value="COR"/>
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        <balance>60000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49737.39</valUSD>
        <pctVal>0.0016512517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CVS HEALTH CORP 5.70%</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 5.70%</title>
        <cusip>126650ED8</cusip>
        <identifiers>
          <isin value="US126650ED80"/>
          <ticker value="CVS"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>258066.04</valUSD>
        <pctVal>0.0085676387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>CVS HEALTH CORP 6.05%</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 6.05%</title>
        <cusip>126650EF3</cusip>
        <identifiers>
          <isin value="US126650EF39"/>
          <ticker value="CVS"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200087.85</valUSD>
        <pctVal>0.0066427973</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONSOLIDATED EDISO 5.375%</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>CONSOLIDATED EDISO 5.375%</title>
        <cusip>209111GH0</cusip>
        <identifiers>
          <isin value="US209111GH08"/>
          <ticker value="ED"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>306625.25</valUSD>
        <pctVal>0.0101797755</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DOMINION ENERGY INC F2V</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>DOMINION ENERGY INC F2V</title>
        <cusip>25746UDU0</cusip>
        <identifiers>
          <isin value="US25746UDU07"/>
          <ticker value="D"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>529397</valUSD>
        <pctVal>0.0175756648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JOHN DEERE CAP. COR 4.40%</name>
        <lei>E0KSF7PFQ210NWI8Z391</lei>
        <title>JOHN DEERE CAP. COR 4.40%</title>
        <cusip>24422EXX2</cusip>
        <identifiers>
          <isin value="US24422EXX20"/>
          <ticker value="DE"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297395.78</valUSD>
        <pctVal>0.0098733626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-09-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC F2F</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC F2F</title>
        <cusip>172967PU9</cusip>
        <identifiers>
          <isin value="US172967PU96"/>
          <ticker value="C"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>515004.27</valUSD>
        <pctVal>0.0170978348</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.020000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREMF 2025-K760 MTGE. VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREMF 2025-K760 MTGE. VAR</title>
        <cusip>3137HKDD3</cusip>
        <identifiers>
          <isin value="US3137HKDD33"/>
          <ticker value="FHMS"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100049.15</valUSD>
        <pctVal>0.0033215721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL BANK 3.625%</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>INTERNATIONAL BANK 3.625%</title>
        <cusip>459058LT8</cusip>
        <identifiers>
          <isin value="US459058LT86"/>
          <ticker value="IBRD"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1980775.82</valUSD>
        <pctVal>0.0657605765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HOME DEPOT INC/THE 3.95%</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>HOME DEPOT INC/THE 3.95%</title>
        <cusip>437076DJ8</cusip>
        <identifiers>
          <isin value="US437076DJ82"/>
          <ticker value="HD"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244987.55</valUSD>
        <pctVal>0.0081334406</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ORIX CORP 4.45%</name>
        <lei>35380016EMHNBOVYE123</lei>
        <title>ORIX CORP 4.45%</title>
        <cusip>686330AV3</cusip>
        <identifiers>
          <isin value="US686330AV34"/>
          <ticker value="ORIX"/>
        </identifiers>
        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>689279.68</valUSD>
        <pctVal>0.0228836745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.450000000000</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>SPECTRA ENERGY PART 4.50%</name>
        <lei>2HKVXE7U4NF5B6UGSU72</lei>
        <title>SPECTRA ENERGY PART 4.50%</title>
        <cusip>84756NAG4</cusip>
        <identifiers>
          <isin value="US84756NAG43"/>
          <ticker value="ENBCN"/>
        </identifiers>
        <balance>110000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93003.35</valUSD>
        <pctVal>0.0030876558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</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>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179RF87</cusip>
        <identifiers>
          <isin value="US36179RF870"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>255598.35</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>230896.67</valUSD>
        <pctVal>0.0076656318</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>JOHNSON &amp; JOHNSON 5.95%</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>JOHNSON &amp; JOHNSON 5.95%</title>
        <cusip>478160AN4</cusip>
        <identifiers>
          <isin value="US478160AN49"/>
          <ticker value="JNJ"/>
        </identifiers>
        <balance>32000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35092.29</valUSD>
        <pctVal>0.0011650431</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASTRAZENECA PLC 6.45%</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>ASTRAZENECA PLC 6.45%</title>
        <cusip>046353AD0</cusip>
        <identifiers>
          <isin value="US046353AD01"/>
          <ticker value="AZN"/>
        </identifiers>
        <balance>450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499699.58</valUSD>
        <pctVal>0.0165897282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE MULTI-A 3.82%</name>
        <lei>R42WS16M9R97TJJKGU15</lei>
        <title>CAPITAL ONE MULTI-A 3.82%</title>
        <cusip>14041NGF2</cusip>
        <identifiers>
          <isin value="US14041NGF24"/>
          <ticker value="COMET"/>
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        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74128.16</valUSD>
        <pctVal>0.0024610107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.820000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>3618N5VM8</cusip>
        <identifiers>
          <isin value="US3618N5VM81"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>786138.07</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>706362.2</valUSD>
        <pctVal>0.0234508040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SALESFORCE INC 4.65%</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>SALESFORCE INC 4.65%</title>
        <cusip>79466LAR5</cusip>
        <identifiers>
          <isin value="US79466LAR50"/>
          <ticker value="CRM"/>
        </identifiers>
        <balance>430000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>429777.2</valUSD>
        <pctVal>0.0142683469</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMAZON.COM INC 4.00%</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON.COM INC 4.00%</title>
        <cusip>023135DC7</cusip>
        <identifiers>
          <isin value="US023135DC78"/>
          <ticker value="AMZN"/>
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        <balance>790000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>781556.13</valUSD>
        <pctVal>0.0259471976</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUNCOR ENERGY INC 6.80%</name>
        <lei>894500XO86FKXQGPYV71</lei>
        <title>SUNCOR ENERGY INC 6.80%</title>
        <cusip>71644EAJ1</cusip>
        <identifiers>
          <isin value="US71644EAJ10"/>
          <ticker value="SUCN"/>
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        <balance>130000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>142743.27</valUSD>
        <pctVal>0.0047389915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.50%</title>
        <cusip>3128KRWV2</cusip>
        <identifiers>
          <isin value="US3128KRWV29"/>
          <ticker value="FHLMC"/>
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        <balance>49749.63</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>51248.15</valUSD>
        <pctVal>0.0017014080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</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>FREDDIE MAC MULTIF 4.803%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 4.803%</title>
        <cusip>3137HDJJ0</cusip>
        <identifiers>
          <isin value="US3137HDJJ06"/>
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        <name>FANNIE MAE POOL 4.00%</name>
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        <name>CARMAX AUTO OWNER T 4.48%</name>
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        <name>FANNIE MAE POOL 4.50%</name>
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        <name>DOW CHEM. CO/THE 4.80%</name>
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        <name>APA CORP 6.10%</name>
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        <name>GINNIE MAE I POOL 4.00%</name>
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        <name>GINNIE MAE II POOL 5.00%</name>
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        <name>RTX CORP 4.50%</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
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        <name>FANNIE MAE POOL 2.50%</name>
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        <name>FANNIE MAE-ACES 4.389%</name>
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        <name>CARVANA AUTO RECEIV 4.14%</name>
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        <name>FREDDIE MAC MULTIFAMI VAR</name>
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        <name>CITIGROUP INC F2F</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC F2F</title>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>31427QPK2</cusip>
        <identifiers>
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        <curCd>USD</curCd>
        <valUSD>2224410.48</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SALESFORCE INC 6.55%</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
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        <cusip>79466LAW4</cusip>
        <identifiers>
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          <ticker value="CRM"/>
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        <balance>220000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>220074.13</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ESTEE LAUDER COS I 4.375%</name>
        <lei>549300VFZ8XJ9NUPU221</lei>
        <title>ESTEE LAUDER COS I 4.375%</title>
        <cusip>29736RAG5</cusip>
        <identifiers>
          <isin value="US29736RAG56"/>
          <ticker value="EL"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>125592.23</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GILEAD SCIENCES INC 4.75%</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>GILEAD SCIENCES INC 4.75%</title>
        <cusip>375558BD4</cusip>
        <identifiers>
          <isin value="US375558BD48"/>
          <ticker value="GILD"/>
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        <balance>168000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>150429.84</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140KQTN1</cusip>
        <identifiers>
          <isin value="US3140KQTN11"/>
          <ticker value="FNMA"/>
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        <balance>277931.35</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>226878.78</valUSD>
        <pctVal>0.0075322403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 1.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 1.50%</title>
        <cusip>3132D6AB6</cusip>
        <identifiers>
          <isin value="US3132D6AB65"/>
          <ticker value="FHLMC"/>
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        <balance>1324714.18</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1182541.92</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3132DVLW3</cusip>
        <identifiers>
          <isin value="US3132DVLW36"/>
          <ticker value="FHLMC"/>
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        <balance>1727948.54</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1413139.35</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179WLP1</cusip>
        <identifiers>
          <isin value="US36179WLP13"/>
          <ticker value="GNR"/>
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        <balance>2854052.11</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2440835.2</valUSD>
        <pctVal>0.0810342737</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EMERSON ELEC. CO 2.80%</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
        <title>EMERSON ELEC. CO 2.80%</title>
        <cusip>291011BS2</cusip>
        <identifiers>
          <isin value="US291011BS25"/>
          <ticker value="EMR"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>188561.72</valUSD>
        <pctVal>0.0062601367</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.800000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GENERAL MOTORS FINL 3.10%</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>GENERAL MOTORS FINL 3.10%</title>
        <cusip>37045XDS2</cusip>
        <identifiers>
          <isin value="US37045XDS27"/>
          <ticker value="GM"/>
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        <balance>33000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>29873.21</valUSD>
        <pctVal>0.0009917728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.100000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMPHENOL CORP 4.625%</name>
        <lei>549300D3L3G0R4U4VT04</lei>
        <title>AMPHENOL CORP 4.625%</title>
        <cusip>032095BA8</cusip>
        <identifiers>
          <isin value="US032095BA89"/>
          <ticker value="APH"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>772363.82</valUSD>
        <pctVal>0.0256420184</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>31371NMG7</cusip>
        <identifiers>
          <isin value="US31371NMG78"/>
          <ticker value="FNMA"/>
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        <balance>24316.72</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25510.82</valUSD>
        <pctVal>0.0008469440</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179RQ36</cusip>
        <identifiers>
          <isin value="US36179RQ364"/>
          <ticker value="GNR"/>
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        <balance>122986.83</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117888.29</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES VAR</title>
        <cusip>3136AY7L1</cusip>
        <identifiers>
          <isin value="US3136AY7L11"/>
          <ticker value="FNMA"/>
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        <balance>145969.24</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>143416.46</valUSD>
        <pctVal>0.0047613410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.081000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179TQP3</cusip>
        <identifiers>
          <isin value="US36179TQP39"/>
          <ticker value="GNR"/>
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        <balance>351308.03</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>322756.17</valUSD>
        <pctVal>0.0107153124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140Q7WS2</cusip>
        <identifiers>
          <isin value="US3140Q7WS23"/>
          <ticker value="FNMA"/>
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        <balance>510305.19</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>470920.61</valUSD>
        <pctVal>0.0156342835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ELEVANCE HEALTH IN 4.101%</name>
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      <invstOrSec>
        <name>SOUTHERN CALIFORNI 4.125%</name>
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      <invstOrSec>
        <name>CVS HEALTH CORP 5.05%</name>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
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      <invstOrSec>
        <name>TYSON FOODS INC 5.10%</name>
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        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>254900C5LP6DN9OP9V83</lei>
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        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FANNIE MAE POOL 2.00%</name>
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        <name>WALT DISNEY CO/THE 4.70%</name>
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        <name>GENERAL DYNAMICS CO 4.25%</name>
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        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>GINNIE MAE II POOL 2.00%</name>
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        <name>DEVON ENERGY CORP 5.25%</name>
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        <name>BP CAP. MKTS. AMER 2.721%</name>
        <lei>5493009NTB34VXE1T760</lei>
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        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>PROVINCE OF ONTARIO 3.90%</name>
        <lei>C7PVKCRGLG18EBQGZV36</lei>
        <title>PROVINCE OF ONTARIO 3.90%</title>
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        <name>FEDERAL FARM CREDIT 3.97%</name>
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      <invstOrSec>
        <name>ROGERS COMMS. INC 4.50%</name>
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        <name>FANNIE MAE POOL 5.00%</name>
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        <name>FANNIE MAE POOL 6.00%</name>
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        <name>FANNIE MAE POOL 2.00%</name>
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        <name>AMERICAN EXPRESS CO F2F</name>
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          <ticker value="AXP"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 3.542%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137FLYK4</cusip>
        <identifiers>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>92848.61</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2034-03-25</maturityDt>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFA 3.47%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137FLYJ7</cusip>
        <identifiers>
          <isin value="US3137FLYJ74"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95617.3</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3132DMN76</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>149482.16</valUSD>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3133ALAJ7</cusip>
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          <ticker value="FHLMC"/>
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        <name>GINNIE MAE II POOL 2.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.00%</title>
        <cusip>36179WJQ2</cusip>
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          <isin value="US36179WJQ24"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ECOLAB INC 2.75%</name>
        <lei>82DYEISM090VG8LTLS26</lei>
        <title>ECOLAB INC 2.75%</title>
        <cusip>278865BJ8</cusip>
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          <ticker value="ECL"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <name>VONTIER CORP 2.95%</name>
        <lei>549300VVSQLG4P5K4639</lei>
        <title>VONTIER CORP 2.95%</title>
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          <ticker value="VNT"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <name>MEXICO GOV. INTL. B 3.50%</name>
        <lei>254900EGTWEU67VP6075</lei>
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        <cusip>91087BAR1</cusip>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
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        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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          <ticker value="BAC"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>HCA INC 4.90%</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA INC 4.90%</title>
        <cusip>404119DF3</cusip>
        <identifiers>
          <isin value="US404119DF36"/>
          <ticker value="HCA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>484227.15</valUSD>
        <pctVal>0.0160760527</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.00%</title>
        <cusip>36179YHT4</cusip>
        <identifiers>
          <isin value="US36179YHT47"/>
          <ticker value="GNR"/>
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        <balance>506010.42</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>520169.38</valUSD>
        <pctVal>0.0172693133</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>3140A0R68</cusip>
        <identifiers>
          <isin value="US3140A0R685"/>
          <ticker value="FNMA"/>
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        <balance>179969.58</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>184129.7</valUSD>
        <pctVal>0.0061129963</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>31418EUN8</cusip>
        <identifiers>
          <isin value="US31418EUN83"/>
          <ticker value="FNMA"/>
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        <balance>86243.59</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>88573.28</valUSD>
        <pctVal>0.0029405801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RYDER SYSTEM INC 6.60%</name>
        <lei>ZXJ6Y2OSPZXIVGRILD15</lei>
        <title>RYDER SYSTEM INC 6.60%</title>
        <cusip>78355HKY4</cusip>
        <identifiers>
          <isin value="US78355HKY44"/>
          <ticker value="R"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>109090.29</valUSD>
        <pctVal>0.0036217326</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DISCOVER FINL. SERVIC F2F</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>DISCOVER FINL. SERVIC F2F</title>
        <cusip>254709AT5</cusip>
        <identifiers>
          <isin value="US254709AT53"/>
          <ticker value="COF"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>345016.82</valUSD>
        <pctVal>0.0114543528</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.964000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HOME DEPOT INC/THE 4.75%</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>HOME DEPOT INC/THE 4.75%</title>
        <cusip>437076DC3</cusip>
        <identifiers>
          <isin value="US437076DC30"/>
          <ticker value="HD"/>
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        <balance>180000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>181781.52</valUSD>
        <pctVal>0.0060350381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROLOGIS LP 5.00%</name>
        <lei>GL16H1DHB0QSHP25F723</lei>
        <title>PROLOGIS LP 5.00%</title>
        <cusip>74340XCN9</cusip>
        <identifiers>
          <isin value="US74340XCN93"/>
          <ticker value="PLD"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>298272.66</valUSD>
        <pctVal>0.0099024745</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BLACKROCK FNDG. INC 4.60%</name>
        <lei>529900VBK42Y5HHRMD23</lei>
        <title>BLACKROCK FNDG. INC 4.60%</title>
        <cusip>09290DAH4</cusip>
        <identifiers>
          <isin value="US09290DAH44"/>
          <ticker value="BLK"/>
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        <balance>160000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>160519.53</valUSD>
        <pctVal>0.0053291527</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PEPSICO INC 5.25%</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PEPSICO INC 5.25%</title>
        <cusip>713448FZ6</cusip>
        <identifiers>
          <isin value="US713448FZ69"/>
          <ticker value="PEP"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>385827.43</valUSD>
        <pctVal>0.0128092407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-07-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED AIRLINES 20 5.875%</name>
        <lei>K1OQBWM7XEOO08LDNP29</lei>
        <title>UNITED AIRLINES 20 5.875%</title>
        <cusip>90932WAB9</cusip>
        <identifiers>
          <isin value="US90932WAB90"/>
          <ticker value="UAL"/>
        </identifiers>
        <balance>187949.06</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>188532.32</valUSD>
        <pctVal>0.0062591606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418FUF2</cusip>
        <identifiers>
          <isin value="US31418FUF25"/>
          <ticker value="FNMA"/>
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        <balance>583284.66</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>565948.65</valUSD>
        <pctVal>0.0187891578</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BUNGE FIN. CORP 5.15%</name>
        <lei>549300QHC068L40NNM71</lei>
        <title>BUNGE FIN. CORP 5.15%</title>
        <cusip>120568BT6</cusip>
        <identifiers>
          <isin value="US120568BT63"/>
          <ticker value="BG"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>496639.9</valUSD>
        <pctVal>0.0164881486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORD CREDIT AUTO OW 4.34%</name>
        <lei>N/A</lei>
        <title>FORD CREDIT AUTO OW 4.34%</title>
        <cusip>34532WAF2</cusip>
        <identifiers>
          <isin value="US34532WAF23"/>
          <ticker value="FORDO"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24726.84</valUSD>
        <pctVal>0.0008209163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.340000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VOLKSWAGEN AUTO LEA 4.17%</name>
        <lei>N/A</lei>
        <title>VOLKSWAGEN AUTO LEA 4.17%</title>
        <cusip>92868CAD3</cusip>
        <identifiers>
          <isin value="US92868CAD39"/>
          <ticker value="VWALT"/>
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        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74680</valUSD>
        <pctVal>0.0024793315</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.170000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENBRIDGE INC 4.85%</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>ENBRIDGE INC 4.85%</title>
        <cusip>29250NCQ6</cusip>
        <identifiers>
          <isin value="US29250NCQ60"/>
          <ticker value="ENBCN"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>699460.79</valUSD>
        <pctVal>0.0232216813</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 1.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.125%</title>
        <cusip>91282CBL4</cusip>
        <identifiers>
          <isin value="US91282CBL46"/>
          <ticker value="T"/>
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        <balance>10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8726171.9</valUSD>
        <pctVal>0.2897037054</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PEB8</cusip>
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          <isin value="US46647PEB85"/>
          <ticker value="JPM"/>
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        <curCd>USD</curCd>
        <valUSD>503386.76</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>2030-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MASTERCARD INC 4.35%</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>MASTERCARD INC 4.35%</title>
        <cusip>57636QBB9</cusip>
        <identifiers>
          <isin value="US57636QBB95"/>
          <ticker value="MA"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>492637.34</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL AUSTRALIA 4.901%</name>
        <lei>549300E2IPL06NDXMZ63</lei>
        <title>NATIONAL AUSTRALIA 4.901%</title>
        <cusip>63253QAL8</cusip>
        <identifiers>
          <isin value="US63253QAL86"/>
          <ticker value="NAB"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>507506.24</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHILE GOV. INTL. BO 5.65%</name>
        <lei>549300FLZTJM5YJF8D34</lei>
        <title>CHILE GOV. INTL. BO 5.65%</title>
        <cusip>168863EE4</cusip>
        <identifiers>
          <isin value="US168863EE43"/>
          <ticker value="CHILE"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>311490</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-01-13</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALPHABET INC 5.30%</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC 5.30%</title>
        <cusip>02079KAN7</cusip>
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          <isin value="US02079KAN72"/>
          <ticker value="GOOGL"/>
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        <balance>370000</balance>
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        <curCd>USD</curCd>
        <valUSD>339326.63</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2065-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>APPLE INC 4.50%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC 4.50%</title>
        <cusip>037833FA3</cusip>
        <identifiers>
          <isin value="US037833FA32"/>
          <ticker value="AAPL"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>301553.76</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED PARCEL SERV. 5.95%</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>UNITED PARCEL SERV. 5.95%</title>
        <cusip>911312CK0</cusip>
        <identifiers>
          <isin value="US911312CK05"/>
          <ticker value="UPS"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>255411.49</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-05-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CATERPILLAR INC 5.20%</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>CATERPILLAR INC 5.20%</title>
        <cusip>149123CL3</cusip>
        <identifiers>
          <isin value="US149123CL34"/>
          <ticker value="CAT"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>306001.7</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOCKHEED MARTIN COR 5.00%</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>LOCKHEED MARTIN COR 5.00%</title>
        <cusip>539830CM9</cusip>
        <identifiers>
          <isin value="US539830CM96"/>
          <ticker value="LMT"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502202.28</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HSBC HLDGS. PLC F2F</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HLDGS. PLC F2F</title>
        <cusip>404280FB0</cusip>
        <identifiers>
          <isin value="US404280FB07"/>
          <ticker value="HSBC"/>
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        <balance>460000</balance>
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        <curCd>USD</curCd>
        <valUSD>463324.56</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-09-10</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DRIVE AUTO RECEIVAB 4.14%</name>
        <lei>N/A</lei>
        <title>DRIVE AUTO RECEIVAB 4.14%</title>
        <cusip>262103AE4</cusip>
        <identifiers>
          <isin value="US262103AE48"/>
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        <balance>25000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.140000000000</annualizedRt>
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      <invstOrSec>
        <name>ALLIANT ENERGY CORP F2V</name>
        <lei>5493009ML300G373MZ12</lei>
        <title>ALLIANT ENERGY CORP F2V</title>
        <cusip>018802AF5</cusip>
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          <isin value="US018802AF54"/>
          <ticker value="LNT"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NISSAN AUTO RECEIVA 3.99%</name>
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        <title>NISSAN AUTO RECEIVA 3.99%</title>
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          <ticker value="NAROT"/>
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        <issuerCat>CORP</issuerCat>
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        <name>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2F</title>
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          <ticker value="MS"/>
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      <invstOrSec>
        <name>PUBLIC SERV. CO OF 4.15%</name>
        <lei>5BANEF6PGSEK0SNMQF44</lei>
        <title>PUBLIC SERV. CO OF 4.15%</title>
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          <ticker value="XEL"/>
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        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
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          <ticker value="FNMA"/>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>3618N6FL6</cusip>
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          <ticker value="GNR"/>
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        <valUSD>1964468.76</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-04-20</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WORLD OMNI AUTOMOBI 4.14%</name>
        <lei>N/A</lei>
        <title>WORLD OMNI AUTOMOBI 4.14%</title>
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        <curCd>USD</curCd>
        <valUSD>49645.64</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137HRKH1</cusip>
        <identifiers>
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          <ticker value="FHMS"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>487853.15</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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      <invstOrSec>
        <name>HPS COR. LENDING FU 5.45%</name>
        <lei>549300ZS7IHUA6FKFV61</lei>
        <title>HPS COR. LENDING FU 5.45%</title>
        <cusip>40440VBD6</cusip>
        <identifiers>
          <isin value="US40440VBD64"/>
          <ticker value="HLEND"/>
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        <balance>1040000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1005376.51</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>Fixed</couponKind>
          <annualizedRt>5.450000000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>INDIANA MICHIGAN PO 6.05%</name>
        <lei>JHR9V15J0ZRG02MIRD06</lei>
        <title>INDIANA MICHIGAN PO 6.05%</title>
        <cusip>454889AM8</cusip>
        <identifiers>
          <isin value="US454889AM82"/>
          <ticker value="AEP"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>211334.93</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.050000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CONSOLIDATED EDISON 6.75%</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>CONSOLIDATED EDISON 6.75%</title>
        <cusip>209111EU3</cusip>
        <identifiers>
          <isin value="US209111EU37"/>
          <ticker value="ED"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>112455.34</valUSD>
        <pctVal>0.0037334503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179M5K2</cusip>
        <identifiers>
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          <ticker value="GNR"/>
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        <balance>64726.18</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57247.18</valUSD>
        <pctVal>0.0019005723</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179R4E6</cusip>
        <identifiers>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>332928.31</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>EXETER AUTOMOBILE R 5.81%</name>
        <lei>N/A</lei>
        <title>EXETER AUTOMOBILE R 5.81%</title>
        <cusip>30166UAF7</cusip>
        <identifiers>
          <isin value="US30166UAF75"/>
          <ticker value="EART"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50617.17</valUSD>
        <pctVal>0.0016804599</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.810000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITEDHEALTH GRP. I 4.80%</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GRP. I 4.80%</title>
        <cusip>91324PFG2</cusip>
        <identifiers>
          <isin value="US91324PFG28"/>
          <ticker value="UNH"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1007726.84</valUSD>
        <pctVal>0.0334559304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>36202EWD7</cusip>
        <identifiers>
          <isin value="US36202EWD74"/>
          <ticker value="GNR"/>
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        <balance>13869.68</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14270.29</valUSD>
        <pctVal>0.0004737651</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LOEWS CORP 4.125%</name>
        <lei>R8V1FN4M5ITGZOG7BS19</lei>
        <title>LOEWS CORP 4.125%</title>
        <cusip>540424AR9</cusip>
        <identifiers>
          <isin value="US540424AR93"/>
          <ticker value="L"/>
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        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>62534.33</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179SB89</cusip>
        <identifiers>
          <isin value="US36179SB893"/>
          <ticker value="GNR"/>
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        <balance>216861.81</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198910.46</valUSD>
        <pctVal>0.0066037087</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179SEG8</cusip>
        <identifiers>
          <isin value="US36179SEG84"/>
          <ticker value="GNR"/>
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        <balance>413976.47</balance>
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        <curCd>USD</curCd>
        <valUSD>371942.11</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>36179YS62</cusip>
        <identifiers>
          <isin value="US36179YS622"/>
          <ticker value="GNR"/>
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        <balance>1647850.18</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1663555.49</valUSD>
        <pctVal>0.0552290506</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LAS VEGAS SANDS COR 6.20%</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>LAS VEGAS SANDS COR 6.20%</title>
        <cusip>517834AL1</cusip>
        <identifiers>
          <isin value="US517834AL18"/>
          <ticker value="LVS"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>205886.93</valUSD>
        <pctVal>0.0068353233</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENTERGY LOUISIANA L 3.05%</name>
        <lei>0V5453U14HDZO63CGH17</lei>
        <title>ENTERGY LOUISIANA L 3.05%</title>
        <cusip>29364WAX6</cusip>
        <identifiers>
          <isin value="US29364WAX65"/>
          <ticker value="ETR"/>
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        <balance>950000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>878154.96</valUSD>
        <pctVal>0.0291542212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BRITISH TELECOMS. 5.125%</name>
        <lei>549300OWFMSO9NYV4H90</lei>
        <title>BRITISH TELECOMS. 5.125%</title>
        <cusip>111021AL5</cusip>
        <identifiers>
          <isin value="US111021AL54"/>
          <ticker value="BRITEL"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201559.53</valUSD>
        <pctVal>0.0066916562</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-12-04</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BBCMS MTGE. TST. 2 4.314%</name>
        <lei>N/A</lei>
        <title>BBCMS MTGE. TST. 2 4.314%</title>
        <cusip>05491UBD9</cusip>
        <identifiers>
          <isin value="US05491UBD90"/>
          <ticker value="BBCMS"/>
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        <curCd>USD</curCd>
        <valUSD>344716.75</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALTRIA GRP. INC 5.80%</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>ALTRIA GRP. INC 5.80%</title>
        <cusip>02209SBE2</cusip>
        <identifiers>
          <isin value="US02209SBE28"/>
          <ticker value="MO"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>578285.36</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-02-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.800000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENTERPRISE PRODS. O 5.55%</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>ENTERPRISE PRODS. O 5.55%</title>
        <cusip>29379VCH4</cusip>
        <identifiers>
          <isin value="US29379VCH42"/>
          <ticker value="EPD"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>290624.27</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.550000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NETFLIX INC 5.40%</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>NETFLIX INC 5.40%</title>
        <cusip>64110LBA3</cusip>
        <identifiers>
          <isin value="US64110LBA35"/>
          <ticker value="NFLX"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>192106.18</valUSD>
        <pctVal>0.0063778107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3140X6AR2</cusip>
        <identifiers>
          <isin value="US3140X6AR27"/>
          <ticker value="FNMA"/>
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        <balance>125855.81</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>111348.42</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 0.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 0.375%</title>
        <cusip>91282CAL5</cusip>
        <identifiers>
          <isin value="US91282CAL54"/>
          <ticker value="T"/>
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        <balance>5110000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4877854.28</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.375000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>CHENIERE CORPUS CHR 3.70%</name>
        <lei>549300I7CIEWU1BBLQ53</lei>
        <title>CHENIERE CORPUS CHR 3.70%</title>
        <cusip>16412XAJ4</cusip>
        <identifiers>
          <isin value="US16412XAJ46"/>
          <ticker value="CHCOCH"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>290087.2</valUSD>
        <pctVal>0.0096307221</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 2.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.00%</title>
        <cusip>36179VXX3</cusip>
        <identifiers>
          <isin value="US36179VXX36"/>
          <ticker value="GNR"/>
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        <balance>2124336.64</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1743012.92</valUSD>
        <pctVal>0.0578669899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>L3HARRIS TECHS. INC 5.50%</name>
        <lei>549300UTE50ZMDBG8A20</lei>
        <title>L3HARRIS TECHS. INC 5.50%</title>
        <cusip>502431AV1</cusip>
        <identifiers>
          <isin value="US502431AV15"/>
          <ticker value="LHX"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>96898.3</valUSD>
        <pctVal>0.0032169658</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC F2F</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC F2F</title>
        <cusip>17327CBA0</cusip>
        <identifiers>
          <isin value="US17327CBA09"/>
          <ticker value="C"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>604327.7</valUSD>
        <pctVal>0.0200633194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.333000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PHILIP MORRIS INTL. 1.75%</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTL. 1.75%</title>
        <cusip>718172CS6</cusip>
        <identifiers>
          <isin value="US718172CS62"/>
          <ticker value="PM"/>
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        <balance>181000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>160466.03</valUSD>
        <pctVal>0.0053273765</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.750000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="161002.740000000000"/>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.375%</title>
        <cusip>91282CDF5</cusip>
        <identifiers>
          <isin value="US91282CDF59"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4691601.55</valUSD>
        <pctVal>0.1557583748</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BROOKFIELD ASSET M 5.795%</name>
        <lei>549300CZ84WPNJZKY093</lei>
        <title>BROOKFIELD ASSET M 5.795%</title>
        <cusip>113004AA3</cusip>
        <identifiers>
          <isin value="US113004AA39"/>
          <ticker value="BAMCN"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204040.98</valUSD>
        <pctVal>0.0067740389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.795000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALPHABET INC 4.00%</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC 4.00%</title>
        <cusip>02079KAK3</cusip>
        <identifiers>
          <isin value="US02079KAK34"/>
          <ticker value="GOOGL"/>
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        <balance>1300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1280960.77</valUSD>
        <pctVal>0.0425271340</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.25%</title>
        <cusip>912810TD0</cusip>
        <identifiers>
          <isin value="US912810TD00"/>
          <ticker value="T"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3612421.86</valUSD>
        <pctVal>0.1199302524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.75%</title>
        <cusip>91282CHF1</cusip>
        <identifiers>
          <isin value="US91282CHF14"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4920898.45</valUSD>
        <pctVal>0.1633708952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.75%</title>
        <cusip>91282CJR3</cusip>
        <identifiers>
          <isin value="US91282CJR34"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.50%</title>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>SHERWIN-WILLIAMS CO 4.50%</name>
        <lei>Z15BMIOX8DDH0X2OBP21</lei>
        <title>SHERWIN-WILLIAMS CO 4.50%</title>
        <cusip>824348BV7</cusip>
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          <isin value="US824348BV71"/>
          <ticker value="SHW"/>
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        <curCd>USD</curCd>
        <valUSD>247950.34</valUSD>
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        <issuerCat>CORP</issuerCat>
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          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEXTERA ENERGY CAP 4.685%</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NEXTERA ENERGY CAP 4.685%</title>
        <cusip>65339KCL2</cusip>
        <identifiers>
          <isin value="US65339KCL26"/>
          <ticker value="NEE"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250572.09</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MEXICO GOV. INTL. 5.625%</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEXICO GOV. INTL. 5.625%</title>
        <cusip>91087BBL3</cusip>
        <identifiers>
          <isin value="US91087BBL36"/>
          <ticker value="MEX"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>971500</valUSD>
        <pctVal>0.0322532209</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RAYMOND JAMES FINL. 5.65%</name>
        <lei>RGUZHJ05YTITL6D76949</lei>
        <title>RAYMOND JAMES FINL. 5.65%</title>
        <cusip>754730AK5</cusip>
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          <isin value="US754730AK54"/>
          <ticker value="RJF"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>291607.18</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2055-09-11</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>91282CLC3</cusip>
        <identifiers>
          <isin value="US91282CLC37"/>
          <ticker value="T"/>
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        <balance>6000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5971406.28</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2029-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.25%</title>
        <cusip>91282CMN8</cusip>
        <identifiers>
          <isin value="US91282CMN82"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5005664.05</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.75%</title>
        <cusip>912810UJ5</cusip>
        <identifiers>
          <isin value="US912810UJ50"/>
          <ticker value="T"/>
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        <balance>3820000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3736586.71</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2045-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.75%</title>
        <cusip>91282CND9</cusip>
        <identifiers>
          <isin value="US91282CND91"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4962890.6</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.25%</title>
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          <ticker value="T"/>
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        <curCd>USD</curCd>
        <valUSD>4485937.5</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2033-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.75%</title>
        <cusip>91282CQL8</cusip>
        <identifiers>
          <isin value="US91282CQL80"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4963867.2</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
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      <invstOrSec>
        <name>DTE ENERGY CO 4.95%</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE ENERGY CO 4.95%</title>
        <cusip>233331BM8</cusip>
        <identifiers>
          <isin value="US233331BM83"/>
          <ticker value="DTE"/>
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        <balance>1190000</balance>
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        <curCd>USD</curCd>
        <valUSD>1195881.22</valUSD>
        <pctVal>0.0397025436</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2027-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ONEOK INC 4.75%</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK INC 4.75%</title>
        <cusip>682680CD3</cusip>
        <identifiers>
          <isin value="US682680CD39"/>
          <ticker value="OKE"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>691932.65</valUSD>
        <pctVal>0.0229717515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AT&amp;T INC 4.90%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 4.90%</title>
        <cusip>00206RNC2</cusip>
        <identifiers>
          <isin value="US00206RNC24"/>
          <ticker value="T"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>242236.01</valUSD>
        <pctVal>0.0080420911</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BROADCOM INC 4.80%</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>BROADCOM INC 4.80%</title>
        <cusip>11135FCY5</cusip>
        <identifiers>
          <isin value="US11135FCY51"/>
          <ticker value="AVGO"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>242611.75</valUSD>
        <pctVal>0.0080545655</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SALESFORCE INC 6.70%</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>SALESFORCE INC 6.70%</title>
        <cusip>79466LAX2</cusip>
        <identifiers>
          <isin value="US79466LAX29"/>
          <ticker value="CRM"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503975.72</valUSD>
        <pctVal>0.0167316935</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2066-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HONEYWELL AEROSPACE 4.95%</name>
        <lei>213800ZUAQRBYL67JS90</lei>
        <title>HONEYWELL AEROSPACE 4.95%</title>
        <cusip>43849RAG0</cusip>
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        <curCd>USD</curCd>
        <valUSD>1388470.32</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HONEYWELL AEROSPAC 5.732%</name>
        <lei>213800ZUAQRBYL67JS90</lei>
        <title>HONEYWELL AEROSPAC 5.732%</title>
        <cusip>43849RAJ4</cusip>
        <identifiers>
          <isin value="US43849RAJ41"/>
          <ticker value="HONA"/>
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        <curCd>USD</curCd>
        <valUSD>719965.89</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>3140W2B26</cusip>
        <identifiers>
          <isin value="US3140W2B267"/>
          <ticker value="FN"/>
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        <curCd>USD</curCd>
        <valUSD>1253995.44</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.500000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>APOLLO GBL. MGT. IN 5.70%</name>
        <lei>254900LMFT1CY9IYB476</lei>
        <title>APOLLO GBL. MGT. IN 5.70%</title>
        <cusip>03769MAG1</cusip>
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          <isin value="US03769MAG15"/>
          <ticker value="APO"/>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
        <valUSD>401375.62</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-30</maturityDt>
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          <annualizedRt>5.700000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>BANCO SANTANDER SA 5.437%</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>BANCO SANTANDER SA 5.437%</title>
        <cusip>05971KAW9</cusip>
        <identifiers>
          <isin value="US05971KAW99"/>
          <ticker value="SANTAN"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>400144.82</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.437000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.50%</title>
        <cusip>912810QC5</cusip>
        <identifiers>
          <isin value="US912810QC53"/>
          <ticker value="T"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>986250</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 3.50%</title>
        <cusip>36178NB65</cusip>
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          <isin value="US36178NB656"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>33426.2</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.625%</title>
        <cusip>91282CKN0</cusip>
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          <isin value="US91282CKN01"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5089453.1</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ENTERGY ARKANSAS LL 5.75%</name>
        <lei>549300A0I5ONUIFMLP35</lei>
        <title>ENTERGY ARKANSAS LL 5.75%</title>
        <cusip>29366MAG3</cusip>
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          <isin value="US29366MAG33"/>
          <ticker value="ETR"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>299621.34</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KITE REALTY GRP. LP 4.95%</name>
        <lei>549300X6R2GYI8Y3OD81</lei>
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        <cusip>49803XAF0</cusip>
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          <ticker value="KRG"/>
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        <curCd>USD</curCd>
        <valUSD>99691.8</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>PHILIPPINE GOV. IN 4.375%</name>
        <lei>529900RAHBALMYIJ3T08</lei>
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        <curCd>USD</curCd>
        <valUSD>694650.08</valUSD>
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        <invCountry>PH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>GINNIE MAE I POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <valUSD>120855.39</valUSD>
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          <couponKind>Fixed</couponKind>
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        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <cusip>36179R7H6</cusip>
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          <isin value="US36179R7H66"/>
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        <name>MOLSON COORS BEVERA 4.20%</name>
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        <title>MOLSON COORS BEVERA 4.20%</title>
        <cusip>60871RAH3</cusip>
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          <ticker value="TAP"/>
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        <curCd>USD</curCd>
        <valUSD>239374.77</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>KEURIG DR PEPPER IN 4.42%</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>KEURIG DR PEPPER IN 4.42%</title>
        <cusip>26138EAY5</cusip>
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          <ticker value="KDP"/>
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        <curCd>USD</curCd>
        <valUSD>240824.89</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>ASSOCIATED BANC-CORP F2F</name>
        <lei>549300N3CIN473IW5094</lei>
        <title>ASSOCIATED BANC-CORP F2F</title>
        <cusip>045487AD7</cusip>
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          <isin value="US045487AD77"/>
          <ticker value="ASBC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102918.84</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-08-29</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137HHW23</cusip>
        <identifiers>
          <isin value="US3137HHW238"/>
          <ticker value="FHMS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>496118.55</valUSD>
        <pctVal>0.0164708401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.230000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EXPORT-IMPORT BANK 5.25%</name>
        <lei>549300APVP4R32PI3Y06</lei>
        <title>EXPORT-IMPORT BANK 5.25%</title>
        <cusip>302154EL9</cusip>
        <identifiers>
          <isin value="US302154EL96"/>
          <ticker value="EIBKOR"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>310867.7</valUSD>
        <pctVal>0.0103206223</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STEEL DYNAMICS INC 5.75%</name>
        <lei>549300HGGKEL4FYTTQ83</lei>
        <title>STEEL DYNAMICS INC 5.75%</title>
        <cusip>858119BT6</cusip>
        <identifiers>
          <isin value="US858119BT62"/>
          <ticker value="STLD"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248106.95</valUSD>
        <pctVal>0.0082370028</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UBS COMMERCIAL MOR 3.983%</name>
        <lei>N/A</lei>
        <title>UBS COMMERCIAL MOR 3.983%</title>
        <cusip>90276VAE9</cusip>
        <identifiers>
          <isin value="US90276VAE92"/>
          <ticker value="LBUBS"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>147113.45</valUSD>
        <pctVal>0.0048840788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.983000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137FG6X8</cusip>
        <identifiers>
          <isin value="US3137FG6X87"/>
          <ticker value="FHMS"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197817.78</valUSD>
        <pctVal>0.0065674324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BAT CAP. CORP 5.625%</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT CAP. CORP 5.625%</title>
        <cusip>05526DCC7</cusip>
        <identifiers>
          <isin value="US05526DCC74"/>
          <ticker value="BATSLN"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>257629.85</valUSD>
        <pctVal>0.0085531574</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="262942.350000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 6.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.50%</title>
        <cusip>3618N5KY4</cusip>
        <identifiers>
          <isin value="US3618N5KY49"/>
          <ticker value="GNR"/>
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        <balance>1528477.59</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1583949.4</valUSD>
        <pctVal>0.0525861759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIF 3.926%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 3.926%</title>
        <cusip>3137FGZT5</cusip>
        <identifiers>
          <isin value="US3137FGZT52"/>
          <ticker value="FHMS"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197937.42</valUSD>
        <pctVal>0.0065714044</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.926000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3140HJHS3</cusip>
        <identifiers>
          <isin value="US3140HJHS30"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>87417.05</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82964.25</valUSD>
        <pctVal>0.0027543636</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WALMART INC 4.35%</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>WALMART INC 4.35%</title>
        <cusip>931142FN8</cusip>
        <identifiers>
          <isin value="US931142FN86"/>
          <ticker value="WMT"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500961.75</valUSD>
        <pctVal>0.0166316315</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL BANK 4.00%</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>INTERNATIONAL BANK 4.00%</title>
        <cusip>459058LU5</cusip>
        <identifiers>
          <isin value="US459058LU59"/>
          <ticker value="IBRD"/>
        </identifiers>
        <balance>1400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1379464.07</valUSD>
        <pctVal>0.0457973848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CAMDEN PROP. TRUST 4.10%</name>
        <lei>5493002MYX22OHYJBD89</lei>
        <title>CAMDEN PROP. TRUST 4.10%</title>
        <cusip>133131AW2</cusip>
        <identifiers>
          <isin value="US133131AW29"/>
          <ticker value="CPT"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297556.34</valUSD>
        <pctVal>0.0098786931</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</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>AT&amp;T INC 5.15%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 5.15%</title>
        <cusip>00206RFU1</cusip>
        <identifiers>
          <isin value="US00206RFU14"/>
          <ticker value="T"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>263821.14</valUSD>
        <pctVal>0.0087587046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST INDL. LP 5.25%</name>
        <lei>86MKNB3IKYZZT3E3OV11</lei>
        <title>FIRST INDL. LP 5.25%</title>
        <cusip>32055RAS6</cusip>
        <identifiers>
          <isin value="US32055RAS67"/>
          <ticker value="FR"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100619.7</valUSD>
        <pctVal>0.0033405141</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TOYOTA MOTOR CREDIT 4.80%</name>
        <lei>Z2VZBHUMB7PWWJ63I008</lei>
        <title>TOYOTA MOTOR CREDIT 4.80%</title>
        <cusip>89236TNJ0</cusip>
        <identifiers>
          <isin value="US89236TNJ06"/>
          <ticker value="TOYOTA"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>301768.65</valUSD>
        <pctVal>0.0100185393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HOME DEPOT INC/THE 4.50%</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>HOME DEPOT INC/THE 4.50%</title>
        <cusip>437076BX9</cusip>
        <identifiers>
          <isin value="US437076BX94"/>
          <ticker value="HD"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>340935.53</valUSD>
        <pctVal>0.0113188564</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-12-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PAX4</cusip>
        <identifiers>
          <isin value="US46647PAX42"/>
          <ticker value="JPM"/>
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        <balance>59000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>58665.57</valUSD>
        <pctVal>0.0019476620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.452000000000</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>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31407KTU3</cusip>
        <identifiers>
          <isin value="US31407KTU33"/>
          <ticker value="FNMA"/>
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        <balance>17788.64</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17938.75</valUSD>
        <pctVal>0.0005955558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY CORP 4.95%</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>DUKE ENERGY CORP 4.95%</title>
        <cusip>26441CCJ2</cusip>
        <identifiers>
          <isin value="US26441CCJ27"/>
          <ticker value="DUK"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244653.47</valUSD>
        <pctVal>0.0081223494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UBER TECHS. INC 4.80%</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>UBER TECHS. INC 4.80%</title>
        <cusip>90353TAU4</cusip>
        <identifiers>
          <isin value="US90353TAU43"/>
          <ticker value="UBER"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>243138.18</valUSD>
        <pctVal>0.0080720426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="246738.150000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO COMMER 2.725%</name>
        <lei>N/A</lei>
        <title>WELLS FARGO COMMER 2.725%</title>
        <cusip>95002EBB2</cusip>
        <identifiers>
          <isin value="US95002EBB20"/>
          <ticker value="WFCM"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93051.01</valUSD>
        <pctVal>0.0030892381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.725000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GHZ5</cusip>
        <identifiers>
          <isin value="US06051GHZ54"/>
          <ticker value="BAC"/>
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        <balance>2500</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2310.31</valUSD>
        <pctVal>0.0000767009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.496000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUZANO NETHERLANDS 5.50%</name>
        <lei>9845009ZB9F5D6DB3602</lei>
        <title>SUZANO NETHERLANDS 5.50%</title>
        <cusip>86960YAA0</cusip>
        <identifiers>
          <isin value="US86960YAA01"/>
          <ticker value="SUZANO"/>
        </identifiers>
        <balance>530000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>515275</valUSD>
        <pctVal>0.0171068228</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC F2F</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC F2F</title>
        <cusip>172967QH7</cusip>
        <identifiers>
          <isin value="US172967QH76"/>
          <ticker value="C"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>397770.95</valUSD>
        <pctVal>0.0132057584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.174000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIRSTENERGY CORP 3.40%</name>
        <lei>549300SVYJS666PQJH88</lei>
        <title>FIRSTENERGY CORP 3.40%</title>
        <cusip>337932AM9</cusip>
        <identifiers>
          <isin value="US337932AM94"/>
          <ticker value="FE"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204212.25</valUSD>
        <pctVal>0.0067797250</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.400000000000</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>AMGEN INC 3.375%</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>AMGEN INC 3.375%</title>
        <cusip>031162CS7</cusip>
        <identifiers>
          <isin value="US031162CS70"/>
          <ticker value="AMGN"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>282556.08</valUSD>
        <pctVal>0.0093806934</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE I POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 5.00%</title>
        <cusip>36296DGJ1</cusip>
        <identifiers>
          <isin value="US36296DGJ19"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>13918.76</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14039.89</valUSD>
        <pctVal>0.0004661160</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3138Y6LV4</cusip>
        <identifiers>
          <isin value="US3138Y6LV46"/>
          <ticker value="FNMA"/>
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        <balance>240163.32</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>223274.69</valUSD>
        <pctVal>0.0074125866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BHP BILLITON FIN. U 5.00%</name>
        <lei>5493003NUVITP3TMY274</lei>
        <title>BHP BILLITON FIN. U 5.00%</title>
        <cusip>055451BN7</cusip>
        <identifiers>
          <isin value="US055451BN75"/>
          <ticker value="BHP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499264.01</valUSD>
        <pctVal>0.0165752675</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.375%</title>
        <cusip>91282CNY3</cusip>
        <identifiers>
          <isin value="US91282CNY39"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4916796.9</valUSD>
        <pctVal>0.1632347262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIF 1.872%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 1.872%</title>
        <cusip>3137FRUJ8</cusip>
        <identifiers>
          <isin value="US3137FRUJ80"/>
          <ticker value="FHLMC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>183368.02</valUSD>
        <pctVal>0.0060877090</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.872000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRUDENTIAL FINANCIA 3.00%</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>PRUDENTIAL FINANCIA 3.00%</title>
        <cusip>74432QCJ2</cusip>
        <identifiers>
          <isin value="US74432QCJ22"/>
          <ticker value="PRU"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>229253.29</valUSD>
        <pctVal>0.0076110726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>31418CRB2</cusip>
        <identifiers>
          <isin value="US31418CRB27"/>
          <ticker value="FNMA"/>
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        <balance>37517.17</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35732.69</valUSD>
        <pctVal>0.0011863040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140Q9QJ5</cusip>
        <identifiers>
          <isin value="US3140Q9QJ53"/>
          <ticker value="FNMA"/>
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        <balance>66731.33</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65041.21</valUSD>
        <pctVal>0.0021593294</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>DRIVE AUTO RECEIVAB 4.90%</name>
        <lei>N/A</lei>
        <title>DRIVE AUTO RECEIVAB 4.90%</title>
        <cusip>262103AG9</cusip>
        <identifiers>
          <isin value="US262103AG95"/>
          <ticker value="DRIVE"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24759.03</valUSD>
        <pctVal>0.0008219850</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>AEP TEXAS INC 5.20%</name>
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        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>CARVANA AUTO RECEIV 4.35%</name>
        <lei>N/A</lei>
        <title>CARVANA AUTO RECEIV 4.35%</title>
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        <curCd>USD</curCd>
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        <name>AMAZON.COM INC 5.65%</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
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        <curCd>USD</curCd>
        <valUSD>1019628.22</valUSD>
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        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <ticker value="FHLMC"/>
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        <name>NOVARTIS CAP. CORP 5.60%</name>
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        <curCd>USD</curCd>
        <valUSD>504837.06</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>UNITED STATES TSY. 3.875%</name>
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        <title>UNITED STATES TSY. 3.875%</title>
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          <ticker value="T"/>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
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        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <ticker value="FNMA"/>
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        <name>KROGER CO/THE 6.90%</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>KROGER CO/THE 6.90%</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US31414C6Y98"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>25982.52</valUSD>
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        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.00%</title>
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        <curCd>USD</curCd>
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        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>FREDDIE MAC GOLD PO 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <valUSD>1972.58</valUSD>
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        <name>FREDDIE MAC GOLD PO 5.00%</name>
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        <name>T-MOBILE USA INC 5.50%</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 5.50%</title>
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          <ticker value="TMUS"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>UNITED STATES TSY. 4.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>CISCO SYS. INC 5.50%</name>
        <lei>549300LKFJ962MZ46593</lei>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 4.50%</name>
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      <invstOrSec>
        <name>FANNIE MAE POOL 1.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>AVISTA CORP 4.00%</name>
        <lei>Q0IK63NITJD6RJ47SW96</lei>
        <title>AVISTA CORP 4.00%</title>
        <cusip>05379BAR8</cusip>
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          <isin value="US05379BAR87"/>
          <ticker value="AVA"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>75689.21</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.50%</title>
        <cusip>3128M6JC3</cusip>
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          <isin value="US3128M6JC31"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>22608.22</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
          <maturityDt>2038-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>KONINKLIJKE AHOLD D 5.70%</name>
        <lei>724500C9GNBV20UYRX36</lei>
        <title>KONINKLIJKE AHOLD D 5.70%</title>
        <cusip>24668PAE7</cusip>
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          <isin value="US24668PAE79"/>
          <ticker value="ADNA"/>
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        <balance>116000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117032.79</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</annualizedRt>
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      <invstOrSec>
        <name>ORACLE CORP 4.70%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 4.70%</title>
        <cusip>68389XCT0</cusip>
        <identifiers>
          <isin value="US68389XCT00"/>
          <ticker value="ORCL"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>916230.46</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</annualizedRt>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418FE78</cusip>
        <identifiers>
          <isin value="US31418FE784"/>
          <ticker value="FNMA"/>
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        <balance>151510.42</balance>
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        <curCd>USD</curCd>
        <valUSD>150085.33</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <debtSec>
          <maturityDt>2039-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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      <invstOrSec>
        <name>BERKSHIRE HATHAWAY 4.50%</name>
        <lei>5493000C01ZX7D35SD85</lei>
        <title>BERKSHIRE HATHAWAY 4.50%</title>
        <cusip>084670BK3</cusip>
        <identifiers>
          <isin value="US084670BK32"/>
          <ticker value="BRK"/>
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        <balance>255000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>229823.78</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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      <invstOrSec>
        <name>ALLSTATE CORP/THE 4.50%</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>ALLSTATE CORP/THE 4.50%</title>
        <cusip>020002BA8</cusip>
        <identifiers>
          <isin value="US020002BA86"/>
          <ticker value="ALL"/>
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        <balance>45000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39101.85</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.75%</title>
        <cusip>912810RD2</cusip>
        <identifiers>
          <isin value="US912810RD28"/>
          <ticker value="T"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1728671.88</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>UNITED STATES TSY. 3.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.125%</title>
        <cusip>912810RH3</cusip>
        <identifiers>
          <isin value="US912810RH32"/>
          <ticker value="T"/>
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        <balance>8800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6885656.27</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PFIZER INC 4.30%</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>PFIZER INC 4.30%</title>
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          <isin value="US717081DE02"/>
          <ticker value="PFE"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85945.16</valUSD>
        <pctVal>0.0028533281</pctVal>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2043-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3138X5SH1</cusip>
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          <isin value="US3138X5SH16"/>
          <ticker value="FNMA"/>
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        <balance>285908.19</balance>
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        <curCd>USD</curCd>
        <valUSD>266341.64</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3133G64B8</cusip>
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          <isin value="US3133G64B81"/>
          <ticker value="FHLMC"/>
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        <balance>159368.25</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>149834.89</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2034-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.00%</title>
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          <isin value="US91282CCR07"/>
          <ticker value="T"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5625000</valUSD>
        <pctVal>0.1867466469</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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        <name>FANNIE MAE POOL 2.00%</name>
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        <name>KINROSS GOLD CORP 6.25%</name>
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        <name>UNITED STATES TSY. 3.00%</name>
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        <name>FREDDIE MAC GOLD PO 5.00%</name>
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        <curCd>USD</curCd>
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        <name>INTERCONTINENTAL EX 5.25%</name>
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          <ticker value="ICE"/>
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        <curCd>USD</curCd>
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        <name>REGIONS FINL. CORP F2F</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
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        <name>AERCAP IRELAND CAP. 5.30%</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
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        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
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        <name>CRH AMERICA FIN. IN 5.50%</name>
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        <lei>254900HROIFWPRGM1V77</lei>
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        <name>GINNIE MAE I POOL 4.50%</name>
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        <name>FANNIE MAE OR FREDD 3.50%</name>
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        <name>GINNIE MAE I POOL 4.50%</name>
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        <name>HOME DEPOT INC/THE 4.65%</name>
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        <name>UBER TECHS. INC 4.15%</name>
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        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FANNIE MAE POOL 4.00%</name>
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      <invstOrSec>
        <name>VOLKSWAGEN AUTO LEA 4.01%</name>
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        <name>BAT CAP. CORP 4.625%</name>
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        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>CARVANA AUTO RECEIV 4.04%</name>
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        <name>FANNIE MAE POOL 4.50%</name>
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        <name>FREDDIE MAC POOL 2.00%</name>
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        <name>JOHN DEERE OWNER TS 3.87%</name>
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        <name>AMAZON.COM INC 5.80%</name>
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        <name>FANNIE MAE POOL 5.00%</name>
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        <name>EXPEDIA GRP. INC 5.50%</name>
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        <fairValLevel>2</fairValLevel>
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        <name>HOME DEPOT INC/THE 3.625%</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
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        <cusip>437076CQ3</cusip>
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          <ticker value="HD"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>PG&amp;E REC. FNDG. LL 5.045%</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
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          <ticker value="GS"/>
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        <curCd>USD</curCd>
        <valUSD>1193227.09</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SPACE EXPLORATION T 5.65%</name>
        <lei>549300B9WLO96RQCXP87</lei>
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          <ticker value="SPCX"/>
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        <curCd>USD</curCd>
        <valUSD>1988084.62</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31409FGT9</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>10985.96</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 6.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31414LVZ8</cusip>
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          <isin value="US31414LVZ83"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>14032.03</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
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        <securityLending>
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        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>91282CGP0</cusip>
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          <ticker value="T"/>
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        <curCd>USD</curCd>
        <valUSD>4986718.75</valUSD>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>91282CHR5</cusip>
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          <ticker value="T"/>
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        <curCd>USD</curCd>
        <valUSD>1985468.76</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 5.50%</title>
        <cusip>36296DD54</cusip>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>30323.39</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>36202EWC9</cusip>
        <identifiers>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>11675.53</valUSD>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>VIRGINIA ELEC. AND 8.875%</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
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          <ticker value="D"/>
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        <curCd>USD</curCd>
        <valUSD>130671.68</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>GINNIE MAE I POOL 5.50%</name>
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          <couponKind>Fixed</couponKind>
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        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
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          <ticker value="T"/>
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        <curCd>USD</curCd>
        <valUSD>4979296.9</valUSD>
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        <name>UNITED STATES TSY. 3.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.75%</title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>SOUTHERN CALIFORNIA 5.50%</name>
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        <cusip>842400FP3</cusip>
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          <ticker value="EIX"/>
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        <curCd>USD</curCd>
        <valUSD>144020.22</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SAN DIEGO GAS &amp; ELE 4.50%</name>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITED STATES TSY. 3.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.375%</title>
        <cusip>91282CLL3</cusip>
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          <isin value="US91282CLL36"/>
          <ticker value="T"/>
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        <curCd>USD</curCd>
        <valUSD>4954687.5</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>91282CNA5</cusip>
        <identifiers>
          <isin value="US91282CNA52"/>
          <ticker value="T"/>
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        <balance>6500000</balance>
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        <curCd>USD</curCd>
        <valUSD>6414433.61</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORTHROP GRUMMAN CO 5.05%</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>NORTHROP GRUMMAN CO 5.05%</title>
        <cusip>666807BD3</cusip>
        <identifiers>
          <isin value="US666807BD31"/>
          <ticker value="NOC"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>241037.34</valUSD>
        <pctVal>0.0080022960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.050000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APPLIED MATS. INC 5.85%</name>
        <lei>41BNNE1AFPNAZELZ6K07</lei>
        <title>APPLIED MATS. INC 5.85%</title>
        <cusip>038222AG0</cusip>
        <identifiers>
          <isin value="US038222AG04"/>
          <ticker value="AMAT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104820.19</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.25%</title>
        <cusip>91282CNC1</cusip>
        <identifiers>
          <isin value="US91282CNC19"/>
          <ticker value="T"/>
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        <balance>15500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15317148.36</valUSD>
        <pctVal>0.5085201950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.50%</title>
        <cusip>91282CPC9</cusip>
        <identifiers>
          <isin value="US91282CPC90"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4927148.45</valUSD>
        <pctVal>0.1635783915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179NLD8</cusip>
        <identifiers>
          <isin value="US36179NLD83"/>
          <ticker value="GNR"/>
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        <balance>195425.01</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>183082.08</valUSD>
        <pctVal>0.0060782159</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31402QYT2</cusip>
        <identifiers>
          <isin value="US31402QYT20"/>
          <ticker value="FNMA"/>
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        <balance>5886.07</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5864.88</valUSD>
        <pctVal>0.0001947105</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.50%</title>
        <cusip>91282CPE5</cusip>
        <identifiers>
          <isin value="US91282CPE56"/>
          <ticker value="T"/>
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        <balance>7000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6939843.75</valUSD>
        <pctVal>0.2303986757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 5.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 5.00%</title>
        <cusip>912810UV8</cusip>
        <identifiers>
          <isin value="US912810UV88"/>
          <ticker value="T"/>
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        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3526250</valUSD>
        <pctVal>0.1170693980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CALIFORNIA INSTITUT 4.70%</name>
        <lei>549300CITPNHOTVPHC04</lei>
        <title>CALIFORNIA INSTITUT 4.70%</title>
        <cusip>13034VAA2</cusip>
        <identifiers>
          <isin value="US13034VAA26"/>
          <ticker value="CALTEC"/>
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        <balance>110000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89521.07</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2111-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TRUSTEES OF THE UN 4.674%</name>
        <lei>549300FG60YK9HZ7DS75</lei>
        <title>TRUSTEES OF THE UN 4.674%</title>
        <cusip>91481CAA8</cusip>
        <identifiers>
          <isin value="US91481CAA80"/>
          <ticker value="UPENN"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>81905.71</valUSD>
        <pctVal>0.0027192207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2112-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.674000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL FRN</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL FRN</title>
        <cusip>3138EJUX4</cusip>
        <identifiers>
          <isin value="US3138EJUX41"/>
          <ticker value="FNMA"/>
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        <balance>3463.16</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3562.4</valUSD>
        <pctVal>0.0001182696</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.3140004</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PANAMA GOV. INTL. 3.875%</name>
        <lei>549300SHS4T08CL0LP14</lei>
        <title>PANAMA GOV. INTL. 3.875%</title>
        <cusip>698299BF0</cusip>
        <identifiers>
          <isin value="US698299BF03"/>
          <ticker value="PANAMA"/>
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        <balance>564900</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>555296.7</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-17</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONSOLIDATED EDISON 3.85%</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>CONSOLIDATED EDISON 3.85%</title>
        <cusip>209111FH1</cusip>
        <identifiers>
          <isin value="US209111FH17"/>
          <ticker value="ED"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77344.26</valUSD>
        <pctVal>0.0025677833</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DUPONT DE NEMOURS 5.419%</name>
        <lei>5493004JF0SDFLM8GD76</lei>
        <title>DUPONT DE NEMOURS 5.419%</title>
        <cusip>26078JAF7</cusip>
        <identifiers>
          <isin value="US26078JAF75"/>
          <ticker value="DD"/>
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        <balance>64000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>60347.38</valUSD>
        <pctVal>0.0020034970</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.419000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN WATER CAP. 4.30%</name>
        <lei>5IDHQUFVC8Q2KIBBFF06</lei>
        <title>AMERICAN WATER CAP. 4.30%</title>
        <cusip>03040WAJ4</cusip>
        <identifiers>
          <isin value="US03040WAJ45"/>
          <ticker value="AWK"/>
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        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65135.49</valUSD>
        <pctVal>0.0021624594</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>CHUBB INA HLDGS. IN 4.15%</name>
        <lei>CZCBJZWDMLTHWJDXU843</lei>
        <title>CHUBB INA HLDGS. IN 4.15%</title>
        <cusip>00440EAQ0</cusip>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 2.50%</title>
        <cusip>31307AJN3</cusip>
        <identifiers>
          <isin value="US31307AJN37"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>6809.14</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.875%</title>
        <cusip>912810SU3</cusip>
        <identifiers>
          <isin value="US912810SU34"/>
          <ticker value="T"/>
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        <balance>7300000</balance>
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        <curCd>USD</curCd>
        <valUSD>4057488.26</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>COUNTY OF CLARK DEP 6.82%</name>
        <lei>N/A</lei>
        <title>COUNTY OF CLARK DEP 6.82%</title>
        <cusip>18085PMT8</cusip>
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          <isin value="US18085PMT83"/>
          <ticker value="CLAAPT"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>220197.98</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>STATE OF CALIFORNIA 7.60%</name>
        <lei>9845007J7054602FF597</lei>
        <title>STATE OF CALIFORNIA 7.60%</title>
        <cusip>13063BJC7</cusip>
        <identifiers>
          <isin value="US13063BJC72"/>
          <ticker value="CAS"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>119732.88</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.600000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MERITAGE HOMES CORP 5.65%</name>
        <lei>52990044W9UMFJO2FB97</lei>
        <title>MERITAGE HOMES CORP 5.65%</title>
        <cusip>59001ABG6</cusip>
        <identifiers>
          <isin value="US59001ABG67"/>
          <ticker value="MTH"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>101108.64</valUSD>
        <pctVal>0.0033567466</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <loanByFundCondition isLoanByFund="Y" loanVal="102803.630000000000"/>
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      <invstOrSec>
        <name>PUBLIC SERV. ELEC. 5.50%</name>
        <lei>549300RUHPVD434XUK18</lei>
        <title>PUBLIC SERV. ELEC. 5.50%</title>
        <cusip>74456QCV6</cusip>
        <identifiers>
          <isin value="US74456QCV68"/>
          <ticker value="PEG"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145460.43</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FEDERAL FARM CREDI 3.375%</name>
        <lei>254900C5LP6DN9OP9V83</lei>
        <title>FEDERAL FARM CREDI 3.375%</title>
        <cusip>3133ENL99</cusip>
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          <isin value="US3133ENL995"/>
          <ticker value="FFCB"/>
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        <balance>1475000</balance>
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        <curCd>USD</curCd>
        <valUSD>1460552.66</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2F</title>
        <cusip>61747YFL4</cusip>
        <identifiers>
          <isin value="US61747YFL48"/>
          <ticker value="MS"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>710627.6</valUSD>
        <pctVal>0.0235924127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.466000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CORP ANDINA DE FOME 5.00%</name>
        <lei>UKZ46SXGNYCZK0UOZE76</lei>
        <title>CORP ANDINA DE FOME 5.00%</title>
        <cusip>219868CJ3</cusip>
        <identifiers>
          <isin value="US219868CJ38"/>
          <ticker value="CAF"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>811911</valUSD>
        <pctVal>0.0269549612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>VE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>KELLANOVA 5.75%</name>
        <lei>LONOZNOJYIBXOHXWDB86</lei>
        <title>KELLANOVA 5.75%</title>
        <cusip>487836CA4</cusip>
        <identifiers>
          <isin value="US487836CA47"/>
          <ticker value="K"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198017.24</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-05-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>MEXICO GOV. INTL. 6.875%</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEXICO GOV. INTL. 6.875%</title>
        <cusip>91087BBC3</cusip>
        <identifiers>
          <isin value="US91087BBC37"/>
          <ticker value="MEX"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2095600</valUSD>
        <pctVal>0.0695726708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-05-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.875000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INDONESIA GOV. INTL 5.60%</name>
        <lei>529900FWX0GRR7WG5W79</lei>
        <title>INDONESIA GOV. INTL 5.60%</title>
        <cusip>455780EA0</cusip>
        <identifiers>
          <isin value="US455780EA06"/>
          <ticker value="ZUFB"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1016857.2</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</annualizedRt>
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        <securityLending>
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        <name>AMERICOLD REALTY OP 5.60%</name>
        <lei>549300FKD9KVWNHSUU79</lei>
        <title>AMERICOLD REALTY OP 5.60%</title>
        <cusip>03063UAB7</cusip>
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          <isin value="US03063UAB70"/>
          <ticker value="COLD"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>100361.83</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>T-MOBILE USA INC 5.30%</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 5.30%</title>
        <cusip>87264ADT9</cusip>
        <identifiers>
          <isin value="US87264ADT97"/>
          <ticker value="TMUS"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>251172.78</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.300000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KINDER MORGAN INC 5.85%</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>KINDER MORGAN INC 5.85%</title>
        <cusip>49456BBC4</cusip>
        <identifiers>
          <isin value="US49456BBC46"/>
          <ticker value="KMI"/>
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        <balance>340000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>355438.54</valUSD>
        <pctVal>0.0118003477</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONSUMERS ENERGY CO 4.50%</name>
        <lei>7NKTFWJ1G6MELP9TU740</lei>
        <title>CONSUMERS ENERGY CO 4.50%</title>
        <cusip>210518DY9</cusip>
        <identifiers>
          <isin value="US210518DY98"/>
          <ticker value="CMS"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248236.51</valUSD>
        <pctVal>0.0082413042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-15</maturityDt>
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      <invstOrSec>
        <name>PHILIP MORRIS INTL 4.875%</name>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
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      <invstOrSec>
        <name>SHERWIN-WILLIAMS CO 4.30%</name>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
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        <cusip>3137HMCK4</cusip>
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      <invstOrSec>
        <name>HOME DEPOT INC/THE 3.75%</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ELEVANCE HEALTH INC 5.70%</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
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      <invstOrSec>
        <name>CITIGROUP INC F2F</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC F2F</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3137HN4L9</cusip>
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        <valUSD>198376.94</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CONSOLIDATED EDISON 4.65%</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>ALTRIA GRP. INC 5.95%</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ZIONS BANCORP NA 3.25%</name>
        <lei>8WH0EE09O9V05QJZ3V89</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NEVADA POWER CO 3.125%</name>
        <lei>MJZFGXRJ52U8U4MKJ519</lei>
        <title>NEVADA POWER CO 3.125%</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NOMURA HLDGS. INC F2V</name>
        <lei>549300B3CEAHYG7K8164</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>SCE REC. FNDG. LLC 5.341%</name>
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        <name>FREDDIE MAC POOL 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>ING GROEP NV F2F</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING GROEP NV F2F</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PFL5</cusip>
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        <curCd>USD</curCd>
        <valUSD>1477326.91</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JERSEY CENTRAL POWE 5.15%</name>
        <lei>549300W9UGH9ZPLNPF79</lei>
        <title>JERSEY CENTRAL POWE 5.15%</title>
        <cusip>476556DM4</cusip>
        <identifiers>
          <isin value="US476556DM43"/>
          <ticker value="FE"/>
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        <balance>1300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1293267.74</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC SERVS. INC 5.00%</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>REPUBLIC SERVS. INC 5.00%</title>
        <cusip>760759BP4</cusip>
        <identifiers>
          <isin value="US760759BP44"/>
          <ticker value="RSG"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>496376.78</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>31416M6U3</cusip>
        <identifiers>
          <isin value="US31416M6U39"/>
          <ticker value="FNMA"/>
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        <balance>91125.61</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>88448.12</valUSD>
        <pctVal>0.0029364249</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MASSACHUSETTS SCHO 5.715%</name>
        <lei>N/A</lei>
        <title>MASSACHUSETTS SCHO 5.715%</title>
        <cusip>576000KV4</cusip>
        <identifiers>
          <isin value="US576000KV42"/>
          <ticker value="MASEDU"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103161.83</valUSD>
        <pctVal>0.0034249113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.715000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PERUVIAN GOV. INTL 5.625%</name>
        <lei>254900STKLK2DBJJZ530</lei>
        <title>PERUVIAN GOV. INTL 5.625%</title>
        <cusip>715638BM3</cusip>
        <identifiers>
          <isin value="US715638BM30"/>
          <ticker value="PERU"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>584130</valUSD>
        <pctVal>0.0193927678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="392170.000000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>KONINKLIJKE PHILIPS 5.00%</name>
        <lei>H1FJE8H61JGM1JSGM897</lei>
        <title>KONINKLIJKE PHILIPS 5.00%</title>
        <cusip>500472AE5</cusip>
        <identifiers>
          <isin value="US500472AE51"/>
          <ticker value="PHIANA"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>91541.62</valUSD>
        <pctVal>0.0030391272</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138LQZS6</cusip>
        <identifiers>
          <isin value="US3138LQZS60"/>
          <ticker value="FNMA"/>
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        <balance>159063.77</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>144181.91</valUSD>
        <pctVal>0.0047867535</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CMS ENERGY CORP 4.875%</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS ENERGY CORP 4.875%</title>
        <cusip>125896BN9</cusip>
        <identifiers>
          <isin value="US125896BN95"/>
          <ticker value="CMS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>444422.58</valUSD>
        <pctVal>0.0147545647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="77861.470000000000"/>
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      <invstOrSec>
        <name>TRANE TECHNOLOGIES 5.75%</name>
        <lei>N/A</lei>
        <title>TRANE TECHNOLOGIES 5.75%</title>
        <cusip>45687AAG7</cusip>
        <identifiers>
          <isin value="US45687AAG76"/>
          <ticker value="TT"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>154197.78</valUSD>
        <pctVal>0.0051192744</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ESTEE LAUDER COS IN 4.15%</name>
        <lei>549300VFZ8XJ9NUPU221</lei>
        <title>ESTEE LAUDER COS IN 4.15%</title>
        <cusip>29736RAK6</cusip>
        <identifiers>
          <isin value="US29736RAK68"/>
          <ticker value="EL"/>
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        <balance>70000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55834.59</valUSD>
        <pctVal>0.0018536751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140J6GK7</cusip>
        <identifiers>
          <isin value="US3140J6GK76"/>
          <ticker value="FNMA"/>
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        <balance>61936.09</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57419.12</valUSD>
        <pctVal>0.0019062806</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PAK2</cusip>
        <identifiers>
          <isin value="US46647PAK21"/>
          <ticker value="JPM"/>
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        <balance>85000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>67780.32</valUSD>
        <pctVal>0.0022502662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-07-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.032000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GS MTGE. SECS. TST. 3.43%</name>
        <lei>549300WZ62L3Y22NOZ64</lei>
        <title>GS MTGE. SECS. TST. 3.43%</title>
        <cusip>36254CAV2</cusip>
        <identifiers>
          <isin value="US36254CAV28"/>
          <ticker value="GSMS"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>246711.55</valUSD>
        <pctVal>0.0081906764</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.430000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APPLE INC 2.90%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC 2.90%</title>
        <cusip>037833DB3</cusip>
        <identifiers>
          <isin value="US037833DB33"/>
          <ticker value="AAPL"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>394340.89</valUSD>
        <pctVal>0.0130918825</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VIRGINIA ELEC. AND 3.80%</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>VIRGINIA ELEC. AND 3.80%</title>
        <cusip>927804FY5</cusip>
        <identifiers>
          <isin value="US927804FY56"/>
          <ticker value="D"/>
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        <balance>125000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95489.99</valUSD>
        <pctVal>0.0031702107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3140HJJJ1</cusip>
        <identifiers>
          <isin value="US3140HJJJ13"/>
          <ticker value="FNMA"/>
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        <balance>88079.42</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83574.81</valUSD>
        <pctVal>0.0027746339</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AEP TEXAS INC 4.15%</name>
        <lei>5493001L78U618KXNZ75</lei>
        <title>AEP TEXAS INC 4.15%</title>
        <cusip>00108WAJ9</cusip>
        <identifiers>
          <isin value="US00108WAJ99"/>
          <ticker value="AEP"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153304.9</valUSD>
        <pctVal>0.0050896313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AVANGRID INC 3.80%</name>
        <lei>549300OX0Q38NLSKPB49</lei>
        <title>AVANGRID INC 3.80%</title>
        <cusip>05351WAB9</cusip>
        <identifiers>
          <isin value="US05351WAB90"/>
          <ticker value="AGR"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194749.34</valUSD>
        <pctVal>0.0064655620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3132A5J63</cusip>
        <identifiers>
          <isin value="US3132A5J632"/>
          <ticker value="FHLB"/>
        </identifiers>
        <balance>85201.59</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80839.71</valUSD>
        <pctVal>0.0026838302</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3132A5JN6</cusip>
        <identifiers>
          <isin value="US3132A5JN69"/>
          <ticker value="FHLB"/>
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        <balance>109533.83</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103039.47</valUSD>
        <pctVal>0.0034208490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3131XYGU7</cusip>
        <identifiers>
          <isin value="US3131XYGU70"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>528599.07</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503056.64</valUSD>
        <pctVal>0.0167011806</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>FREDDIE MAC POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>31329NU89</cusip>
        <identifiers>
          <isin value="US31329NU890"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>121426.02</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>115216.67</valUSD>
        <pctVal>0.0038251248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>ENTERPRISE PRODS. 3.125%</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>ENTERPRISE PRODS. 3.125%</title>
        <cusip>29379VBV4</cusip>
        <identifiers>
          <isin value="US29379VBV45"/>
          <ticker value="EPD"/>
        </identifiers>
        <balance>138000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>132320.83</valUSD>
        <pctVal>0.0043929727</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.125000000000</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>DUKE UNIVERSITY 2.682%</name>
        <lei>FY5ICUIRRDCHN4HHL592</lei>
        <title>DUKE UNIVERSITY 2.682%</title>
        <cusip>26442TAF4</cusip>
        <identifiers>
          <isin value="US26442TAF49"/>
          <ticker value="DUKUNI"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>147241.71</valUSD>
        <pctVal>0.0048883370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.682000000000</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>PFIZER INC 2.55%</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>PFIZER INC 2.55%</title>
        <cusip>717081EZ2</cusip>
        <identifiers>
          <isin value="US717081EZ22"/>
          <ticker value="PFE"/>
        </identifiers>
        <balance>130000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94359.85</valUSD>
        <pctVal>0.0031326908</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.550000000000</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>MICROSOFT CORP 2.675%</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>MICROSOFT CORP 2.675%</title>
        <cusip>594918CD4</cusip>
        <identifiers>
          <isin value="US594918CD48"/>
          <ticker value="MSFT"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55140.55</valUSD>
        <pctVal>0.0018306334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.675000000000</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>WELLS FARGO COMMER 2.448%</name>
        <lei>N/A</lei>
        <title>WELLS FARGO COMMER 2.448%</title>
        <cusip>95002RAX6</cusip>
        <identifiers>
          <isin value="US95002RAX61"/>
          <ticker value="WFCM"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>459958.9</valUSD>
        <pctVal>0.0152703613</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.448000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 1.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.125%</title>
        <cusip>91282CBP5</cusip>
        <identifiers>
          <isin value="US91282CBP59"/>
          <ticker value="T"/>
        </identifiers>
        <balance>5700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5423683.61</valUSD>
        <pctVal>0.1800630628</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.50%</title>
        <cusip>91282CGZ8</cusip>
        <identifiers>
          <isin value="US91282CGZ86"/>
          <ticker value="T"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4878906.25</valUSD>
        <pctVal>0.1619767792</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>BLACKSTONE PRIVATE 6.00%</name>
        <lei>549300ORP3TTCNXSYO43</lei>
        <title>BLACKSTONE PRIVATE 6.00%</title>
        <cusip>09261HBW6</cusip>
        <identifiers>
          <isin value="US09261HBW60"/>
          <ticker value="BCRED"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>192507.18</valUSD>
        <pctVal>0.0063911236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="193840.500000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASIAN DEV. BANK 4.125%</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>ASIAN DEV. BANK 4.125%</title>
        <cusip>045167GL1</cusip>
        <identifiers>
          <isin value="US045167GL11"/>
          <ticker value="ASIA"/>
        </identifiers>
        <balance>1750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1744427.18</valUSD>
        <pctVal>0.0579139425</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1450533.020000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ELEVANCE HEALTH INC 4.00%</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>ELEVANCE HEALTH INC 4.00%</title>
        <cusip>036752BH5</cusip>
        <identifiers>
          <isin value="US036752BH53"/>
          <ticker value="ELV"/>
        </identifiers>
        <balance>1190000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1176096.78</valUSD>
        <pctVal>0.0390457120</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>VIRGINIA ELEC. AND 4.90%</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>VIRGINIA ELEC. AND 4.90%</title>
        <cusip>927804GV0</cusip>
        <identifiers>
          <isin value="US927804GV09"/>
          <ticker value="D"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244709.79</valUSD>
        <pctVal>0.0081242192</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AVERY DENNISON CORP 2.65%</name>
        <lei>549300PW7VPFCYKLIV37</lei>
        <title>AVERY DENNISON CORP 2.65%</title>
        <cusip>053611AK5</cusip>
        <identifiers>
          <isin value="US053611AK55"/>
          <ticker value="AVY"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>185042.14</valUSD>
        <pctVal>0.0061432887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.650000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 1.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 1.50%</title>
        <cusip>31418EAA8</cusip>
        <identifiers>
          <isin value="US31418EAA82"/>
          <ticker value="FNMA"/>
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        <balance>351116.66</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>293070</valUSD>
        <pctVal>0.0097297493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BLACKSTONE SECURED 5.30%</name>
        <lei>549300KM7KWQHVBNH962</lei>
        <title>BLACKSTONE SECURED 5.30%</title>
        <cusip>09261XAK8</cusip>
        <identifiers>
          <isin value="US09261XAK81"/>
          <ticker value="BXSL"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194493.06</valUSD>
        <pctVal>0.0064570537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC F2F</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC F2F</title>
        <cusip>17327CAY9</cusip>
        <identifiers>
          <isin value="US17327CAY93"/>
          <ticker value="C"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>489311.15</valUSD>
        <pctVal>0.0162448385</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-03-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.612000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OTIS WORLDWIDE COR 5.131%</name>
        <lei>549300ZLBKR8VSU25153</lei>
        <title>OTIS WORLDWIDE COR 5.131%</title>
        <cusip>68902VAS6</cusip>
        <identifiers>
          <isin value="US68902VAS60"/>
          <ticker value="OTIS"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249213.22</valUSD>
        <pctVal>0.0082737303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.131000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CIGNA GROUP/THE 4.50%</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>CIGNA GROUP/THE 4.50%</title>
        <cusip>125523CX6</cusip>
        <identifiers>
          <isin value="US125523CX69"/>
          <ticker value="CI"/>
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        <balance>450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>447183.68</valUSD>
        <pctVal>0.0148462316</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="453258.680000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>MITSUBISHI UFJ FINL. F2V</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>MITSUBISHI UFJ FINL. F2V</title>
        <cusip>606822DQ4</cusip>
        <identifiers>
          <isin value="US606822DQ49"/>
          <ticker value="MUFG"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198651.62</valUSD>
        <pctVal>0.0065951154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.188000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RAYMOND JAMES FINL. 4.90%</name>
        <lei>RGUZHJ05YTITL6D76949</lei>
        <title>RAYMOND JAMES FINL. 4.90%</title>
        <cusip>754730AJ8</cusip>
        <identifiers>
          <isin value="US754730AJ81"/>
          <ticker value="RJF"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146277.53</valUSD>
        <pctVal>0.0048563268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.50%</title>
        <cusip>31427PJG0</cusip>
        <identifiers>
          <isin value="US31427PJG00"/>
          <ticker value="FR"/>
        </identifiers>
        <balance>1389072.95</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1411464.57</valUSD>
        <pctVal>0.0468597824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.50%</title>
        <cusip>91282CPB1</cusip>
        <identifiers>
          <isin value="US91282CPB18"/>
          <ticker value="T"/>
        </identifiers>
        <balance>7000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6945039.08</valUSD>
        <pctVal>0.2305711575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ORACLE CORP 4.80%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 4.80%</title>
        <cusip>68389XDK8</cusip>
        <identifiers>
          <isin value="US68389XDK81"/>
          <ticker value="ORCL"/>
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        <balance>2200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2093324.84</valUSD>
        <pctVal>0.0694971369</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ORACLE CORP 6.10%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 6.10%</title>
        <cusip>68389XDT9</cusip>
        <identifiers>
          <isin value="US68389XDT90"/>
          <ticker value="ORCL"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>418321.29</valUSD>
        <pctVal>0.0138880175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-09-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.50%</title>
        <cusip>91282CQA2</cusip>
        <identifiers>
          <isin value="US91282CQA26"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4917187.5</valUSD>
        <pctVal>0.1632476939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>31418FU47</cusip>
        <identifiers>
          <isin value="US31418FU475"/>
          <ticker value="FNMA"/>
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        <balance>582713.04</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>566201</valUSD>
        <pctVal>0.0187975357</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>3140W6A93</cusip>
        <identifiers>
          <isin value="US3140W6A930"/>
          <ticker value="FN"/>
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        <balance>495586.05</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>477955.43</valUSD>
        <pctVal>0.0158678354</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MEMORIAL SLOAN-KET 4.125%</name>
        <lei>549300IZ71UAMEHWL382</lei>
        <title>MEMORIAL SLOAN-KET 4.125%</title>
        <cusip>586054AB4</cusip>
        <identifiers>
          <isin value="US586054AB42"/>
          <ticker value="MSKCC"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>79810.22</valUSD>
        <pctVal>0.0026496517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</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>ENERGY TRANSFER LP 5.30%</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP 5.30%</title>
        <cusip>86765BAP4</cusip>
        <identifiers>
          <isin value="US86765BAP40"/>
          <ticker value="ET"/>
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        <balance>15000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13709.29</valUSD>
        <pctVal>0.0004551403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MASSACHUSETTS INST 4.678%</name>
        <lei>DLZO3A31IADZ27B62557</lei>
        <title>MASSACHUSETTS INST 4.678%</title>
        <cusip>575718AB7</cusip>
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          <isin value="US575718AB76"/>
          <ticker value="MASSIN"/>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.00%</title>
        <cusip>912810TC2</cusip>
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          <isin value="US912810TC27"/>
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        <valUSD>4155234.36</valUSD>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.75%</title>
        <cusip>91282CDW8</cusip>
        <identifiers>
          <isin value="US91282CDW82"/>
          <ticker value="T"/>
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        <curCd>USD</curCd>
        <valUSD>4705664.05</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DTE ELEC. CO 5.85%</name>
        <lei>9N0FWODEJVKHC2DYLO03</lei>
        <title>DTE ELEC. CO 5.85%</title>
        <cusip>23338VAZ9</cusip>
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          <isin value="US23338VAZ94"/>
          <ticker value="DTE"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>202462.49</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.850000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERICAN EXPRESS CR 4.51%</name>
        <lei>549300Y4SA5G3GIJTP18</lei>
        <title>AMERICAN EXPRESS CR 4.51%</title>
        <cusip>02582JKR0</cusip>
        <identifiers>
          <isin value="US02582JKR04"/>
          <ticker value="AMXCA"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>100258.68</valUSD>
        <pctVal>0.0033285284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.510000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179QDZ1</cusip>
        <identifiers>
          <isin value="US36179QDZ19"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>59362.25</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BERKSHIRE HATHAWAY 5.15%</name>
        <lei>549300JD0S5IZJE9LY15</lei>
        <title>BERKSHIRE HATHAWAY 5.15%</title>
        <cusip>59562VBD8</cusip>
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          <isin value="US59562VBD82"/>
          <ticker value="BRKHEC"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>282499.17</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>BERKSHIRE HATHAWAY 2.875%</name>
        <lei>549300RLHFT5RU20WM87</lei>
        <title>BERKSHIRE HATHAWAY 2.875%</title>
        <cusip>084664DA6</cusip>
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          <isin value="US084664DA63"/>
          <ticker value="BRK"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>164534.38</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MANULIFE FINANCIAL 3.703%</name>
        <lei>5493007GBX87QOZACS27</lei>
        <title>MANULIFE FINANCIAL 3.703%</title>
        <cusip>56501RAN6</cusip>
        <identifiers>
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          <ticker value="MFCCN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>284754.35</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>2032-03-16</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>2640872.45</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <name>UNITED STATES TSY. 3.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.125%</title>
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          <ticker value="T"/>
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        <curCd>USD</curCd>
        <valUSD>4942968.75</valUSD>
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        <name>URUGUAY GOV. INTL. 5.10%</name>
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        <cusip>760942BA9</cusip>
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        <invCountry>UY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>CHILE GOV. INTL. BO 3.50%</name>
        <lei>549300FLZTJM5YJF8D34</lei>
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        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <cusip>912810TQ1</cusip>
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        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>97842.34</valUSD>
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        <name>UNITED STATES TSY. 3.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>DOMINION ENERGY SOU 5.10%</name>
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        <name>PRECISION CASTPART 4.375%</name>
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        <name>UNITED STATES TSY. 5.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 5.00%</title>
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        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>TEXAS DEPT. OF TRA 5.178%</name>
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        <name>AMERICAN MUNICIPAL 8.084%</name>
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        <name>FREDDIE MAC POOL 4.50%</name>
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        <name>FREDDIE MAC POOL 3.50%</name>
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        <name>HEALTHPEAK OP LLC 3.50%</name>
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        <name>ENTERPRISE PRODS. O 4.20%</name>
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        <name>WELLTOWER OP LLC 3.10%</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
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        <valUSD>207165.92</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CAMPBELL SOUP CO 3.125%</name>
        <lei>5493007JDSMX8Z5Z1902</lei>
        <title>CAMPBELL SOUP CO 3.125%</title>
        <cusip>134429BK4</cusip>
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          <ticker value="CPB"/>
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        <curCd>USD</curCd>
        <valUSD>215796.43</valUSD>
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      <invstOrSec>
        <name>STRYKER CORP 2.90%</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>STRYKER CORP 2.90%</title>
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          <isin value="US863667AZ46"/>
          <ticker value="SYK"/>
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        <curCd>USD</curCd>
        <valUSD>130026.61</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.900000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>31418DSH6</cusip>
        <identifiers>
          <isin value="US31418DSH60"/>
          <ticker value="FNMA"/>
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        <balance>1586232.91</balance>
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        <curCd>USD</curCd>
        <valUSD>1279545.01</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NISOURCE INC 1.70%</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NISOURCE INC 1.70%</title>
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          <isin value="US65473PAL94"/>
          <ticker value="NI"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>436142.44</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.700000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3140QEWM0</cusip>
        <identifiers>
          <isin value="US3140QEWM07"/>
          <ticker value="FNMA"/>
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        <balance>323027.3</balance>
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        <curCd>USD</curCd>
        <valUSD>274347.11</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 0.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 0.75%</title>
        <cusip>91282CBJ9</cusip>
        <identifiers>
          <isin value="US91282CBJ99"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4740039.05</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.750000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.375%</title>
        <cusip>91282CEE7</cusip>
        <identifiers>
          <isin value="US91282CEE75"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4769531.25</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.375000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.875%</title>
        <cusip>91282CEM9</cusip>
        <identifiers>
          <isin value="US91282CEM91"/>
          <ticker value="T"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3863281.24</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.875000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.875%</title>
        <cusip>912810TG3</cusip>
        <identifiers>
          <isin value="US912810TG31"/>
          <ticker value="T"/>
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        <balance>5500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3804667.96</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.875000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
        <cusip>912810TS7</cusip>
        <identifiers>
          <isin value="US912810TS78"/>
          <ticker value="T"/>
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        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2651601.57</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.625%</title>
        <cusip>91282CJA0</cusip>
        <identifiers>
          <isin value="US91282CJA09"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5048437.5</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
        <cusip>91282CMR9</cusip>
        <identifiers>
          <isin value="US91282CMR96"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4969531.25</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-29</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
        <cusip>91282CMS7</cusip>
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          <isin value="US91282CMS79"/>
          <ticker value="T"/>
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        <curCd>USD</curCd>
        <valUSD>4975781.25</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>NORTHROP GRUMMAN CO 5.25%</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>NORTHROP GRUMMAN CO 5.25%</title>
        <cusip>666807CP5</cusip>
        <identifiers>
          <isin value="US666807CP51"/>
          <ticker value="NOC"/>
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        <curCd>USD</curCd>
        <valUSD>406508.57</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.625%</title>
        <cusip>91282CPA3</cusip>
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          <isin value="US91282CPA35"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4889843.75</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LOWE S COS INC 3.95%</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>LOWE S COS INC 3.95%</title>
        <cusip>548661ET0</cusip>
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          <isin value="US548661ET01"/>
          <ticker value="LOW"/>
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        <curCd>USD</curCd>
        <valUSD>248452.18</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>META PLATFORMS INC 4.60%</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>META PLATFORMS INC 4.60%</title>
        <cusip>30303MAC6</cusip>
        <identifiers>
          <isin value="US30303MAC64"/>
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        <name>CONSTELLATION ENER 5.875%</name>
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        <name>PANAMA GOV. INTL. 5.662%</name>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
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          <ticker value="FHLMC"/>
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        <name>UNITED STATES TSY. 3.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <curCd>USD</curCd>
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        <name>HSBC HLDGS. PLC F2F</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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        <curCd>USD</curCd>
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        <name>SYNCHRONY CARD FNDG 4.18%</name>
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        <title>SYNCHRONY CARD FNDG 4.18%</title>
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          <ticker value="SYNIT"/>
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        <curCd>USD</curCd>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.180000000000</annualizedRt>
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      <invstOrSec>
        <name>CARMAX AUTO OWNER T 4.22%</name>
        <lei>N/A</lei>
        <title>CARMAX AUTO OWNER T 4.22%</title>
        <cusip>142935AD7</cusip>
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          <isin value="US142935AD70"/>
          <ticker value="CARMX"/>
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        <balance>150000</balance>
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        <curCd>USD</curCd>
        <valUSD>149112.35</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.220000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>CUMBERLAND COMBINE 5.821%</name>
        <lei>N/A</lei>
        <title>CUMBERLAND COMBINE 5.821%</title>
        <cusip>229917AA7</cusip>
        <identifiers>
          <isin value="US229917AA70"/>
          <ticker value="CGHLLC"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>306679.15</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.821000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>BANK 2026-BNK52 5.586%</name>
        <lei>N/A</lei>
        <title>BANK 2026-BNK52 5.586%</title>
        <cusip>05495BBH8</cusip>
        <identifiers>
          <isin value="US05495BBH87"/>
          <ticker value="BANK"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>103690.76</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
          <annualizedRt>5.586000000000</annualizedRt>
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      <invstOrSec>
        <name>NEW YORK CITY MUNI 5.724%</name>
        <lei>549300Q2EHQ6RJPQKP05</lei>
        <title>NEW YORK CITY MUNI 5.724%</title>
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          <ticker value="NYCUTL"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244703.3</valUSD>
        <pctVal>0.0081240037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PORT AUTHORITY OF 5.647%</name>
        <lei>54930006MR4KZ4W74Z83</lei>
        <title>PORT AUTHORITY OF 5.647%</title>
        <cusip>73358WCX0</cusip>
        <identifiers>
          <isin value="US73358WCX02"/>
          <ticker value="PORTRN"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>209788.8</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.647000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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        <name>BAY AREA TOLL AUTH 6.907%</name>
        <lei>5493001FUZGUQMIP5D78</lei>
        <title>BAY AREA TOLL AUTH 6.907%</title>
        <cusip>072024PY2</cusip>
        <identifiers>
          <isin value="US072024PY20"/>
          <ticker value="BAYTRN"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>168063</valUSD>
        <pctVal>0.0055795914</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.907000000000</annualizedRt>
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        <name>UNITED STATES TSY. 4.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.75%</title>
        <cusip>912810QN1</cusip>
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          <isin value="US912810QN19"/>
          <ticker value="T"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1500351.57</valUSD>
        <pctVal>0.0498107778</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
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        <name>CENTERPOINT ENERGY 5.85%</name>
        <lei>2JADVB0458J06WCD4N56</lei>
        <title>CENTERPOINT ENERGY 5.85%</title>
        <cusip>15189WAH3</cusip>
        <identifiers>
          <isin value="US15189WAH34"/>
          <ticker value="CNP"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>51153.28</valUSD>
        <pctVal>0.0016982584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.850000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNION ELEC. 3.90%</name>
        <lei>QMPJLLDULY5C1M8PNY21</lei>
        <title>UNION ELEC. 3.90%</title>
        <cusip>906548CJ9</cusip>
        <identifiers>
          <isin value="US906548CJ95"/>
          <ticker value="AEE"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>40895.44</valUSD>
        <pctVal>0.0013577042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3138EJP51</cusip>
        <identifiers>
          <isin value="US3138EJP514"/>
          <ticker value="FNMA"/>
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        <balance>255879.64</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>247999.33</valUSD>
        <pctVal>0.0082334299</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MEXICO GOV. INTL. B 5.55%</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEXICO GOV. INTL. B 5.55%</title>
        <cusip>91086QBE7</cusip>
        <identifiers>
          <isin value="US91086QBE70"/>
          <ticker value="MEX"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>450200</valUSD>
        <pctVal>0.0149463716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STRYKER CORP 4.375%</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>STRYKER CORP 4.375%</title>
        <cusip>863667AG6</cusip>
        <identifiers>
          <isin value="US863667AG64"/>
          <ticker value="SYK"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>171563.63</valUSD>
        <pctVal>0.0056958102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CATERPILLAR INC 4.30%</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>CATERPILLAR INC 4.30%</title>
        <cusip>149123CD1</cusip>
        <identifiers>
          <isin value="US149123CD18"/>
          <ticker value="CAT"/>
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        <balance>235000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204199.61</valUSD>
        <pctVal>0.0067793053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138WDYC9</cusip>
        <identifiers>
          <isin value="US3138WDYC95"/>
          <ticker value="FNMA"/>
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        <balance>225209.61</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203002.07</valUSD>
        <pctVal>0.0067395477</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BALTIMORE GAS AND E 3.75%</name>
        <lei>88V8C2WYSOD1SPSSLH72</lei>
        <title>BALTIMORE GAS AND E 3.75%</title>
        <cusip>059165EJ5</cusip>
        <identifiers>
          <isin value="US059165EJ51"/>
          <ticker value="EXC"/>
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        <balance>475000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>356348.52</valUSD>
        <pctVal>0.0118305584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137FKKN5</cusip>
        <identifiers>
          <isin value="US3137FKKN59"/>
          <ticker value="FHLMC"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>489846.45</valUSD>
        <pctVal>0.0162626101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CSX CORP 4.50%</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX CORP 4.50%</title>
        <cusip>126408HP1</cusip>
        <identifiers>
          <isin value="US126408HP13"/>
          <ticker value="CSX"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>84836.55</valUSD>
        <pctVal>0.0028165229</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIF 3.505%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 3.505%</title>
        <cusip>3137FLN91</cusip>
        <identifiers>
          <isin value="US3137FLN910"/>
          <ticker value="FHLMC"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146389.53</valUSD>
        <pctVal>0.0048600451</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.505000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418DES7</cusip>
        <identifiers>
          <isin value="US31418DES71"/>
          <ticker value="FNMA"/>
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        <balance>115258.58</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>102001.75</valUSD>
        <pctVal>0.0033863973</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WISCONSIN PUBLIC SE 3.30%</name>
        <lei>549300BJRHJVYNUMQZ30</lei>
        <title>WISCONSIN PUBLIC SE 3.30%</title>
        <cusip>976843BM3</cusip>
        <identifiers>
          <isin value="US976843BM39"/>
          <ticker value="WEC"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103244.95</valUSD>
        <pctVal>0.0034276708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EMORY UNIVERSITY 2.969%</name>
        <lei>95MD72NUUVZ3P8PQ6919</lei>
        <title>EMORY UNIVERSITY 2.969%</title>
        <cusip>29157TAE6</cusip>
        <identifiers>
          <isin value="US29157TAE64"/>
          <ticker value="EMORYU"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>325300.16</valUSD>
        <pctVal>0.0107997714</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.969000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTHWESTERN PUBLIC 3.15%</name>
        <lei>OL6FE7QD5EQ3DOYEO258</lei>
        <title>SOUTHWESTERN PUBLIC 3.15%</title>
        <cusip>845743BU6</cusip>
        <identifiers>
          <isin value="US845743BU60"/>
          <ticker value="XEL"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>263023.65</valUSD>
        <pctVal>0.0087322284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC 2.75%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 2.75%</title>
        <cusip>00206RJY9</cusip>
        <identifiers>
          <isin value="US00206RJY99"/>
          <ticker value="T"/>
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        <balance>359000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>326510.78</valUSD>
        <pctVal>0.0108399633</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3132D55W8</cusip>
        <identifiers>
          <isin value="US3132D55W81"/>
          <ticker value="FHLMC"/>
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        <balance>698963.16</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>638706.92</valUSD>
        <pctVal>0.0212046890</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GENERAL MOTORS FINA 2.70%</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>GENERAL MOTORS FINA 2.70%</title>
        <cusip>37045XDA1</cusip>
        <identifiers>
          <isin value="US37045XDA19"/>
          <ticker value="GM"/>
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        <balance>658000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>644517.26</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY PROGRES 2.50%</name>
        <lei>0NIFZ782LS46WOC9QK20</lei>
        <title>DUKE ENERGY PROGRES 2.50%</title>
        <cusip>26442UAK0</cusip>
        <identifiers>
          <isin value="US26442UAK07"/>
          <ticker value="DUK"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>348360.26</valUSD>
        <pctVal>0.0115653530</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NI US GOV T PORTFOLIO</name>
        <lei>549300Y178DO5JBR1S04</lei>
        <title>NI US GOV T PORTFOLIO</title>
        <cusip>665278404</cusip>
        <identifiers>
          <isin value="US6652784041"/>
          <ticker value="BNGXX"/>
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        <balance>52287565.55</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52287565.55</valUSD>
        <pctVal>1.7359160077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
        <cusip>91282CKF7</cusip>
        <identifiers>
          <isin value="US91282CKF76"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4981250</valUSD>
        <pctVal>0.1653745307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXETER AUTOMOBILE R 5.09%</name>
        <lei>N/A</lei>
        <title>EXETER AUTOMOBILE R 5.09%</title>
        <cusip>30166XAE4</cusip>
        <identifiers>
          <isin value="US30166XAE40"/>
          <ticker value="EART"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25094.88</valUSD>
        <pctVal>0.0008331351</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.090000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHEVRON USA INC 4.85%</name>
        <lei>VA8TZDWPEZYU430RZ444</lei>
        <title>CHEVRON USA INC 4.85%</title>
        <cusip>166756BL9</cusip>
        <identifiers>
          <isin value="US166756BL90"/>
          <ticker value="CVX"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249213.49</valUSD>
        <pctVal>0.0082737393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MPLX LP 4.80%</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP 4.80%</title>
        <cusip>55336VCA6</cusip>
        <identifiers>
          <isin value="US55336VCA61"/>
          <ticker value="MPLX"/>
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        <balance>980000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>976002.38</valUSD>
        <pctVal>0.0324026972</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CIGNA GROUP/THE 4.875%</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>CIGNA GROUP/THE 4.875%</title>
        <cusip>125523CY4</cusip>
        <identifiers>
          <isin value="US125523CY43"/>
          <ticker value="CI"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>299367.41</valUSD>
        <pctVal>0.0099388196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HYUNDAI AUTO RECEIV 3.88%</name>
        <lei>N/A</lei>
        <title>HYUNDAI AUTO RECEIV 3.88%</title>
        <cusip>44935JAD8</cusip>
        <identifiers>
          <isin value="US44935JAD81"/>
          <ticker value="HART"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99279.07</valUSD>
        <pctVal>0.0032960059</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.880000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GEORGIA POWER CO 4.00%</name>
        <lei>D981X4Z4RWS7PDMJUZ03</lei>
        <title>GEORGIA POWER CO 4.00%</title>
        <cusip>373334LC3</cusip>
        <identifiers>
          <isin value="US373334LC35"/>
          <ticker value="SO"/>
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        <balance>1190000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1178124.56</valUSD>
        <pctVal>0.0391130331</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1190156.720000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.00%</title>
        <cusip>3618N5XR5</cusip>
        <identifiers>
          <isin value="US3618N5XR50"/>
          <ticker value="GNR"/>
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        <balance>2685161.34</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2743154.43</valUSD>
        <pctVal>0.0910710919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>T-MOBILE USA INC 4.625%</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 4.625%</title>
        <cusip>87264ADW2</cusip>
        <identifiers>
          <isin value="US87264ADW27"/>
          <ticker value="TMUS"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>977333.04</valUSD>
        <pctVal>0.0324468743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.125%</title>
        <cusip>912810QZ4</cusip>
        <identifiers>
          <isin value="US912810QZ49"/>
          <ticker value="T"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1199238.29</valUSD>
        <pctVal>0.0398139964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SYSCO CORP 5.375%</name>
        <lei>5RGWIFLMGH3YS7KWI652</lei>
        <title>SYSCO CORP 5.375%</title>
        <cusip>871829AJ6</cusip>
        <identifiers>
          <isin value="US871829AJ69"/>
          <ticker value="SYY"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249156.3</valUSD>
        <pctVal>0.0082718406</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PORT AUTHORITY OF 4.926%</name>
        <lei>54930006MR4KZ4W74Z83</lei>
        <title>PORT AUTHORITY OF 4.926%</title>
        <cusip>73358WEK6</cusip>
        <identifiers>
          <isin value="US73358WEK62"/>
          <ticker value="PORTRN"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>233437.55</valUSD>
        <pctVal>0.0077499875</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.926000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL FRN</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL FRN</title>
        <cusip>3138AH2N5</cusip>
        <identifiers>
          <isin value="US3138AH2N56"/>
          <ticker value="FNMA"/>
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        <balance>4934.68</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5101.24</valUSD>
        <pctVal>0.0001693581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.175000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179RJD2</cusip>
        <identifiers>
          <isin value="US36179RJD26"/>
          <ticker value="GNR"/>
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        <balance>210213.18</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189897.24</valUSD>
        <pctVal>0.0063044752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179RNX3</cusip>
        <identifiers>
          <isin value="US36179RNX34"/>
          <ticker value="GNR"/>
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        <balance>220760.35</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>211699.35</valUSD>
        <pctVal>0.0070282922</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MEDTRONIC INC 4.625%</name>
        <lei>D56MRZY2INAN94ZONZ37</lei>
        <title>MEDTRONIC INC 4.625%</title>
        <cusip>585055BU9</cusip>
        <identifiers>
          <isin value="US585055BU98"/>
          <ticker value="MDT"/>
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        <balance>406000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>363643.16</valUSD>
        <pctVal>0.0120727361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO 4.25%</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO 4.25%</title>
        <cusip>46625HNJ5</cusip>
        <identifiers>
          <isin value="US46625HNJ58"/>
          <ticker value="JPM"/>
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        <balance>299000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>298657.41</valUSD>
        <pctVal>0.0099152480</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138WH6L1</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>129140.18</valUSD>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>3128MMT52</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>57150.6</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MCDONALD S CORP 4.875%</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
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        <cusip>58013MFA7</cusip>
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          <ticker value="MCD"/>
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        <curCd>USD</curCd>
        <valUSD>180681.54</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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      <invstOrSec>
        <name>ROYAL BANK OF CANADA F2F</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>ROYAL BANK OF CANADA F2F</title>
        <cusip>78017DAQ1</cusip>
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          <isin value="US78017DAQ16"/>
          <ticker value="RY"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>490180.71</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>2031-11-03</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AT&amp;T INC 6.00%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 6.00%</title>
        <cusip>00206RNK4</cusip>
        <identifiers>
          <isin value="US00206RNK40"/>
          <ticker value="T"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>483229.93</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ROYAL CARIBBEAN CRU 5.25%</name>
        <lei>K2NEH8QNVW44JIWK7Z55</lei>
        <title>ROYAL CARIBBEAN CRU 5.25%</title>
        <cusip>78017TAD5</cusip>
        <identifiers>
          <isin value="US78017TAD54"/>
          <ticker value="RCL"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>484285.05</valUSD>
        <pctVal>0.0160779750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-27</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VERIZON MASTER TST. 3.94%</name>
        <lei>5493007MUBNP1GFMEB89</lei>
        <title>VERIZON MASTER TST. 3.94%</title>
        <cusip>92348KFC2</cusip>
        <identifiers>
          <isin value="US92348KFC27"/>
          <ticker value="VZMT"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>148887.15</valUSD>
        <pctVal>0.0049429646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ABBOTT LABORATORIES 4.75%</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>ABBOTT LABORATORIES 4.75%</title>
        <cusip>002824BG4</cusip>
        <identifiers>
          <isin value="US002824BG43"/>
          <ticker value="ABT"/>
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        <balance>353000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>344510.89</valUSD>
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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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.25%</title>
        <cusip>9128283F5</cusip>
        <identifiers>
          <isin value="US9128283F58"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4873242.2</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.250000000000</annualizedRt>
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        <name>BAT CAP. CORP 4.39%</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT CAP. CORP 4.39%</title>
        <cusip>05526DBD6</cusip>
        <identifiers>
          <isin value="US05526DBD66"/>
          <ticker value="BATSLN"/>
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        <balance>330000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>301788.22</valUSD>
        <pctVal>0.0100191890</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.390000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>INDONESIA REP 5.35% 1</name>
        <lei>529900FWX0GRR7WG5W79</lei>
        <title>INDONESIA REP 5.35% 1</title>
        <cusip>455780CJ3</cusip>
        <identifiers>
          <isin value="US455780CJ33"/>
          <ticker value="INDON"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>956550.52</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-02-11</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3138WJC89</cusip>
        <identifiers>
          <isin value="US3138WJC894"/>
          <ticker value="FNMA"/>
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        <balance>444829.39</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>426552.62</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>WILLIAMS COS INC/TH 4.85%</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>WILLIAMS COS INC/TH 4.85%</title>
        <cusip>96949LAE5</cusip>
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          <isin value="US96949LAE56"/>
          <ticker value="WMB"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>86713.13</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>3140Q8W27</cusip>
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          <isin value="US3140Q8W276"/>
          <ticker value="FNMA"/>
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        <balance>59939.37</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>58495.78</valUSD>
        <pctVal>0.0019420250</pctVal>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>3132A5JC0</cusip>
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          <isin value="US3132A5JC05"/>
          <ticker value="FHLB"/>
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        <balance>209366.9</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>192947.59</valUSD>
        <pctVal>0.0064057450</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DISCOVER BANK 2.70%</name>
        <lei>207ALC1P1YM0OVDV0K75</lei>
        <title>DISCOVER BANK 2.70%</title>
        <cusip>25466AAR2</cusip>
        <identifiers>
          <isin value="US25466AAR23"/>
          <ticker value="COF"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>233616.43</valUSD>
        <pctVal>0.0077559262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.700000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CARLISLE COS INC 2.75%</name>
        <lei>XR64VGX1ZPX6G7ZN7Z11</lei>
        <title>CARLISLE COS INC 2.75%</title>
        <cusip>142339AJ9</cusip>
        <identifiers>
          <isin value="US142339AJ92"/>
          <ticker value="CSL"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>280137.66</valUSD>
        <pctVal>0.0093004033</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>3618N6C96</cusip>
        <identifiers>
          <isin value="US3618N6C963"/>
          <ticker value="GNR"/>
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        <balance>1988019.2</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1910413.85</valUSD>
        <pctVal>0.0634246010</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WALMART INC 4.75%</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>WALMART INC 4.75%</title>
        <cusip>931142FV0</cusip>
        <identifiers>
          <isin value="US931142FV03"/>
          <ticker value="WMT"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>495796.15</valUSD>
        <pctVal>0.0164601366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
        <cusip>31427SRB6</cusip>
        <identifiers>
          <isin value="US31427SRB69"/>
          <ticker value="FHLMC"/>
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        <balance>1991136.6</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1966788.62</valUSD>
        <pctVal>0.0652962098</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 6.00%</title>
        <cusip>31427QTC6</cusip>
        <identifiers>
          <isin value="US31427QTC68"/>
          <ticker value="FHLMC"/>
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        <balance>1920949.52</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1988952.19</valUSD>
        <pctVal>0.0660320271</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>META PLATFORMS INC 5.25%</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>META PLATFORMS INC 5.25%</title>
        <cusip>30303MAH5</cusip>
        <identifiers>
          <isin value="US30303MAH51"/>
          <ticker value="META"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1489412.43</valUSD>
        <pctVal>0.0494476048</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CARMAX SELECT RECEI 4.64%</name>
        <lei>N/A</lei>
        <title>CARMAX SELECT RECEI 4.64%</title>
        <cusip>14321GAC1</cusip>
        <identifiers>
          <isin value="US14321GAC15"/>
          <ticker value="CMXS"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50018.08</valUSD>
        <pctVal>0.0016605704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.640000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAXTER INTERNATIONA 3.50%</name>
        <lei>J5OIVXX3P24RJRW5CK77</lei>
        <title>BAXTER INTERNATIONA 3.50%</title>
        <cusip>071813BP3</cusip>
        <identifiers>
          <isin value="US071813BP32"/>
          <ticker value="BAX"/>
        </identifiers>
        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>237982.11</valUSD>
        <pctVal>0.0079008642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BERKSHIRE HATHAWAY 4.45%</name>
        <lei>549300JD0S5IZJE9LY15</lei>
        <title>BERKSHIRE HATHAWAY 4.45%</title>
        <cusip>084659AR2</cusip>
        <identifiers>
          <isin value="US084659AR23"/>
          <ticker value="BRKHEC"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>164404.8</valUSD>
        <pctVal>0.0054581414</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179VBE9</cusip>
        <identifiers>
          <isin value="US36179VBE92"/>
          <ticker value="GNR"/>
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        <balance>122544.53</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>105126.49</valUSD>
        <pctVal>0.0034901368</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140Q8AT2</cusip>
        <identifiers>
          <isin value="US3140Q8AT27"/>
          <ticker value="FNMA"/>
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        <balance>328809.79</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>303160.06</valUSD>
        <pctVal>0.0100647333</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NVIDIA CORP 4.95%</name>
        <lei>549300S4KLFTLO7GSQ80</lei>
        <title>NVIDIA CORP 4.95%</title>
        <cusip>67066GAT1</cusip>
        <identifiers>
          <isin value="US67066GAT13"/>
          <ticker value="NVDA"/>
        </identifiers>
        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1982464.34</valUSD>
        <pctVal>0.0658166343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE OR FREDD 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE OR FREDD 5.00%</title>
        <cusip>01F050676</cusip>
        <identifiers>
          <isin value="US01F0506760"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>6500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6386261.57</valUSD>
        <pctVal>0.2120200773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE OR FREDD 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE OR FREDD 5.50%</title>
        <cusip>01F052672</cusip>
        <identifiers>
          <isin value="US01F0526727"/>
          <ticker value="FNMA"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4012780.96</valUSD>
        <pctVal>0.1332219359</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUNCOR ENERGY INC 5.95%</name>
        <lei>894500XO86FKXQGPYV71</lei>
        <title>SUNCOR ENERGY INC 5.95%</title>
        <cusip>867229AD8</cusip>
        <identifiers>
          <isin value="US867229AD85"/>
          <ticker value="SUCN"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>52151.58</valUSD>
        <pctVal>0.0017314014</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</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>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36230QJW9</cusip>
        <identifiers>
          <isin value="US36230QJW96"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>60180.84</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57300.71</valUSD>
        <pctVal>0.0019023494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>PACIFIC GAS AND ELE 4.55%</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
        <title>PACIFIC GAS AND ELE 4.55%</title>
        <cusip>694308JM0</cusip>
        <identifiers>
          <isin value="US694308JM04"/>
          <ticker value="PCG"/>
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        <balance>1509091</balance>
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      <invstOrSec>
        <name>BROOKFIELD FIN. LLC 3.45%</name>
        <lei>549300E643C5WZF8BL44</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DELTA AIR LINES 202 2.00%</name>
        <lei>Q2CCMS6R0AS67HJMBN42</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <ticker value="FHLMC"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BERKSHIRE HATHAWAY 4.25%</name>
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          <ticker value="BRK"/>
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        <curCd>USD</curCd>
        <valUSD>246713.07</valUSD>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITED STATES TSY. 0.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 0.50%</title>
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          <isin value="US91282CAU53"/>
          <ticker value="T"/>
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        <curCd>USD</curCd>
        <valUSD>4831947.68</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>UNITED STATES TSY. 1.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.875%</title>
        <cusip>912810TB4</cusip>
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          <isin value="US912810TB44"/>
          <ticker value="T"/>
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        <curCd>USD</curCd>
        <valUSD>3682382.85</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>REALTY INCOME CORP 3.10%</name>
        <lei>549300CUWDAUZSH43859</lei>
        <title>REALTY INCOME CORP 3.10%</title>
        <cusip>756109BK9</cusip>
        <identifiers>
          <isin value="US756109BK93"/>
          <ticker value="O"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117126.37</valUSD>
        <pctVal>0.0038885257</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.875%</title>
        <cusip>91282CDY4</cusip>
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          <isin value="US91282CDY49"/>
          <ticker value="T"/>
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        <balance>10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8821484.4</valUSD>
        <pctVal>0.2928680236</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TIMKEN CO/THE 4.125%</name>
        <lei>B0I35MLPFXZSE70ASS73</lei>
        <title>TIMKEN CO/THE 4.125%</title>
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          <isin value="US887389AL89"/>
          <ticker value="TKR"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94752.17</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ROYAL BANK OF CANA 3.875%</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>ROYAL BANK OF CANA 3.875%</title>
        <cusip>78016FZQ0</cusip>
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          <isin value="US78016FZQ08"/>
          <ticker value="RY"/>
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        <curCd>USD</curCd>
        <valUSD>573801.5</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>WESTERN MIDSTREAM O 6.15%</name>
        <lei>L6D8A6MLSY454J2JXJ60</lei>
        <title>WESTERN MIDSTREAM O 6.15%</title>
        <cusip>958667AE7</cusip>
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          <ticker value="WES"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
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          <isin value="US91282CHQ78"/>
          <ticker value="T"/>
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        <curCd>USD</curCd>
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        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
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          <ticker value="FHLMC"/>
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        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>ONCOR ELEC. DELIVER 4.10%</name>
        <lei>549300SP2X2BS1KERD24</lei>
        <title>ONCOR ELEC. DELIVER 4.10%</title>
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        <curCd>USD</curCd>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ASIAN DEVELOPMENT B 2.50%</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>ASIAN DEVELOPMENT B 2.50%</title>
        <cusip>045167EE9</cusip>
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          <ticker value="ASIA"/>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>PH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RIO TINTO ALCAN IN 6.125%</name>
        <lei>2138007ZSQ7B17SKOX77</lei>
        <title>RIO TINTO ALCAN IN 6.125%</title>
        <cusip>013716AU9</cusip>
        <identifiers>
          <isin value="US013716AU93"/>
          <ticker value="RIOLN"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>106784.52</valUSD>
        <pctVal>0.0035451824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTHERN CALIFORNIA 6.00%</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>SOUTHERN CALIFORNIA 6.00%</title>
        <cusip>842400ES8</cusip>
        <identifiers>
          <isin value="US842400ES88"/>
          <ticker value="EIX"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103714.28</valUSD>
        <pctVal>0.0034432523</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MYLAN INC 4.55%</name>
        <lei>30ZMPDNA1RHIBH89C294</lei>
        <title>MYLAN INC 4.55%</title>
        <cusip>628530BK2</cusip>
        <identifiers>
          <isin value="US628530BK28"/>
          <ticker value="VTRS"/>
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        <balance>171000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>169925.87</valUSD>
        <pctVal>0.0056414376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENERGY TRANSFER LP 5.25%</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP 5.25%</title>
        <cusip>29278NAG8</cusip>
        <identifiers>
          <isin value="US29278NAG88"/>
          <ticker value="ET"/>
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        <balance>752000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>762037.06</valUSD>
        <pctVal>0.0252991761</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC MULTIF 3.059%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 3.059%</title>
        <cusip>3137FMTT9</cusip>
        <identifiers>
          <isin value="US3137FMTT94"/>
          <ticker value="FHLMC"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89517.06</valUSD>
        <pctVal>0.0029719130</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.059000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORD CREDIT FLOORPL 4.06%</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>FORD CREDIT FLOORPL 4.06%</title>
        <cusip>34528PAK2</cusip>
        <identifiers>
          <isin value="US34528PAK21"/>
          <ticker value="FORDF"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99060.21</valUSD>
        <pctVal>0.0032887399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.060000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ANHEUSER-BUSCH INBE 5.55%</name>
        <lei>549300CRGMZK3K53BF92</lei>
        <title>ANHEUSER-BUSCH INBE 5.55%</title>
        <cusip>03523TBV9</cusip>
        <identifiers>
          <isin value="US03523TBV98"/>
          <ticker value="ABIBB"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>687659.53</valUSD>
        <pctVal>0.0228298865</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES VAR</title>
        <cusip>3136B3XY1</cusip>
        <identifiers>
          <isin value="US3136B3XY10"/>
          <ticker value="FNMA"/>
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        <balance>210558.66</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>206927.09</valUSD>
        <pctVal>0.0068698560</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.679000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GENERAL MOTORS FINL 5.65%</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>GENERAL MOTORS FINL 5.65%</title>
        <cusip>37045XCS3</cusip>
        <identifiers>
          <isin value="US37045XCS36"/>
          <ticker value="GM"/>
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        <balance>84000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85621.96</valUSD>
        <pctVal>0.0028425980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BROOKFIELD FIN. INC 4.85%</name>
        <lei>549300XH8D8K6OYWGD17</lei>
        <title>BROOKFIELD FIN. INC 4.85%</title>
        <cusip>11271LAD4</cusip>
        <identifiers>
          <isin value="US11271LAD47"/>
          <ticker value="BNCN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300420.6</valUSD>
        <pctVal>0.0099737848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL RURAL UTIL 4.30%</name>
        <lei>4NYF266XZC35SCTGX023</lei>
        <title>NATIONAL RURAL UTIL 4.30%</title>
        <cusip>637432NT8</cusip>
        <identifiers>
          <isin value="US637432NT82"/>
          <ticker value="NRUC"/>
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        <balance>125000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103697.16</valUSD>
        <pctVal>0.0034426839</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="105309.650000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179VDM9</cusip>
        <identifiers>
          <isin value="US36179VDM90"/>
          <ticker value="GNR"/>
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        <balance>322892.34</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>277793.52</valUSD>
        <pctVal>0.0092225793</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GS MTGE. SECS. TS 2.9106%</name>
        <lei>N/A</lei>
        <title>GS MTGE. SECS. TS 2.9106%</title>
        <cusip>36258YBG2</cusip>
        <identifiers>
          <isin value="US36258YBG26"/>
          <ticker value="GSMS"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>281131.56</valUSD>
        <pctVal>0.0093334002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-13</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.910600000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY CAP. 4.31%</name>
        <lei>N/A</lei>
        <title>MORGAN STANLEY CAP. 4.31%</title>
        <cusip>61691RAE6</cusip>
        <identifiers>
          <isin value="US61691RAE62"/>
          <ticker value="MSC"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98298.96</valUSD>
        <pctVal>0.0032634669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.310000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTRAL PUGET SOUN 5.491%</name>
        <lei>N/A</lei>
        <title>CENTRAL PUGET SOUN 5.491%</title>
        <cusip>15504RET2</cusip>
        <identifiers>
          <isin value="US15504RET23"/>
          <ticker value="CEPTRN"/>
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        <balance>80000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80728.27</valUSD>
        <pctVal>0.0026801304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.491000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS PLC F2F</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC F2F</title>
        <cusip>06738EDE2</cusip>
        <identifiers>
          <isin value="US06738EDE23"/>
          <ticker value="BACR"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>399366.69</valUSD>
        <pctVal>0.0132587360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.860000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS PLC F2F</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC F2F</title>
        <cusip>06738EDD4</cusip>
        <identifiers>
          <isin value="US06738EDD40"/>
          <ticker value="BACR"/>
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        <balance>1990000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1976133.56</valUSD>
        <pctVal>0.0656064562</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.476000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>UNITED AIRLINES 201 4.15%</name>
        <lei>N/A</lei>
        <title>UNITED AIRLINES 201 4.15%</title>
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          <isin value="US90931CAA62"/>
          <ticker value="UAL"/>
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        <curCd>USD</curCd>
        <valUSD>296623.55</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 1.311%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>444945</valUSD>
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      </invstOrSec>
      <invstOrSec>
        <name>ELI LILLY &amp; CO 5.55%</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
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        <cusip>532457DF2</cusip>
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          <isin value="US532457DF26"/>
          <ticker value="LLY"/>
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        <curCd>USD</curCd>
        <valUSD>249864</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BUNGE FIN. CORP 3.20%</name>
        <lei>549300QHC068L40NNM71</lei>
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        <identifiers>
          <isin value="US120568BN93"/>
          <ticker value="BG"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>186604.32</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-04-21</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GLAXOSMITHKLINE CA 5.375%</name>
        <lei>5493007Q8VD7Q3ZYZS59</lei>
        <title>GLAXOSMITHKLINE CA 5.375%</title>
        <cusip>377372AB3</cusip>
        <identifiers>
          <isin value="US377372AB33"/>
          <ticker value="GSK"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>154499.63</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>METLIFE INC 6.375%</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>METLIFE INC 6.375%</title>
        <cusip>59156RAJ7</cusip>
        <identifiers>
          <isin value="US59156RAJ77"/>
          <ticker value="MET"/>
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        <balance>485000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>526612.28</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.875%</title>
        <cusip>9128284N7</cusip>
        <identifiers>
          <isin value="US9128284N73"/>
          <ticker value="T"/>
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        <balance>7000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6838398.42</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.875000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTH BOW USA INFR 5.026%</name>
        <lei>254900Z1WAY7QFQ7O850</lei>
        <title>SOUTH BOW USA INFR 5.026%</title>
        <cusip>83007CAD4</cusip>
        <identifiers>
          <isin value="US83007CAD48"/>
          <ticker value="SOBOCN"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>401370.17</valUSD>
        <pctVal>0.0133252504</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.026000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ONEOK INC 5.40%</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK INC 5.40%</title>
        <cusip>682680DC4</cusip>
        <identifiers>
          <isin value="US682680DC47"/>
          <ticker value="OKE"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249571.41</valUSD>
        <pctVal>0.0082856220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ELI LILLY &amp; CO 5.65%</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>ELI LILLY &amp; CO 5.65%</title>
        <cusip>532457DG0</cusip>
        <identifiers>
          <isin value="US532457DG09"/>
          <ticker value="LLY"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>250275.7</valUSD>
        <pctVal>0.0083090041</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EUROPEAN INV. BANK 3.875%</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>EUROPEAN INV. BANK 3.875%</title>
        <cusip>298785KM7</cusip>
        <identifiers>
          <isin value="US298785KM78"/>
          <ticker value="EIB"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1973894.48</valUSD>
        <pctVal>0.0655321201</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE OR FREDD 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE OR FREDD 3.00%</title>
        <cusip>01F030470</cusip>
        <identifiers>
          <isin value="US01F0304703"/>
          <ticker value="FNMA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>472376.42</valUSD>
        <pctVal>0.0156826156</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CANADIAN NATIONAL R 6.25%</name>
        <lei>3SU7BEP7TH9YEQOZCS77</lei>
        <title>CANADIAN NATIONAL R 6.25%</title>
        <cusip>136375BL5</cusip>
        <identifiers>
          <isin value="US136375BL52"/>
          <ticker value="CNRCN"/>
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        <balance>15000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16349.95</valUSD>
        <pctVal>0.0005428086</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TYCO ELECTNCS. GRP 7.125%</name>
        <lei>C33G1C5SYE2YM95EE712</lei>
        <title>TYCO ELECTNCS. GRP 7.125%</title>
        <cusip>902133AG2</cusip>
        <identifiers>
          <isin value="US902133AG25"/>
          <ticker value="TEL"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57294.97</valUSD>
        <pctVal>0.0019021589</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.375%</title>
        <cusip>91282CJM4</cusip>
        <identifiers>
          <isin value="US91282CJM47"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5033789.05</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
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        <securityLending>
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        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.50%</title>
        <cusip>91282CLN9</cusip>
        <identifiers>
          <isin value="US91282CLN91"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4898437.5</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>3618N5TN9</cusip>
        <identifiers>
          <isin value="US3618N5TN92"/>
          <ticker value="GNR"/>
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        <balance>2578695.21</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2593590.19</valUSD>
        <pctVal>0.0861056483</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HEALTHPEAK OP LLC 4.75%</name>
        <lei>PZ9HF5U52KPF0MH0QN75</lei>
        <title>HEALTHPEAK OP LLC 4.75%</title>
        <cusip>42250GAB9</cusip>
        <identifiers>
          <isin value="US42250GAB95"/>
          <ticker value="DOC"/>
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        <balance>300000</balance>
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        <curCd>USD</curCd>
        <valUSD>293900.51</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.75%</title>
        <cusip>912810UK2</cusip>
        <identifiers>
          <isin value="US912810UK24"/>
          <ticker value="T"/>
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        <balance>6750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6547763.66</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STATE OF MISSISSIP 5.245%</name>
        <lei>549300JRWW5RFQUB7P94</lei>
        <title>STATE OF MISSISSIP 5.245%</title>
        <cusip>6055805X3</cusip>
        <identifiers>
          <isin value="US6055805X38"/>
          <ticker value="MSS"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>101899.83</valUSD>
        <pctVal>0.0033830136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.245000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CVS HEALTH CORP 5.00%</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 5.00%</title>
        <cusip>126650EJ5</cusip>
        <identifiers>
          <isin value="US126650EJ50"/>
          <ticker value="CVS"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300668.03</valUSD>
        <pctVal>0.0099819994</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="221755.400000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>PROVINCE OF QUEBEC 4.625%</name>
        <lei>549300WN65YFEQH74Y36</lei>
        <title>PROVINCE OF QUEBEC 4.625%</title>
        <cusip>748148SG9</cusip>
        <identifiers>
          <isin value="US748148SG90"/>
          <ticker value="Q"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>797172.82</valUSD>
        <pctVal>0.0264656624</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140EULG2</cusip>
        <identifiers>
          <isin value="US3140EULG28"/>
          <ticker value="FNMA"/>
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        <balance>121892.23</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>113255.71</valUSD>
        <pctVal>0.0037600221</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3138WGPQ1</cusip>
        <identifiers>
          <isin value="US3138WGPQ14"/>
          <ticker value="FNMA"/>
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        <balance>388662.64</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>359346.82</valUSD>
        <pctVal>0.0119301002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>STATE OF ILLINOIS 5.10%</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>STATE OF ILLINOIS 5.10%</title>
        <cusip>452151LF8</cusip>
        <identifiers>
          <isin value="US452151LF83"/>
          <ticker value="ILS"/>
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        <balance>562156.86</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>567913.18</valUSD>
        <pctVal>0.0188543790</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE OR FREDD 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE OR FREDD 4.50%</title>
        <cusip>01F042673</cusip>
        <identifiers>
          <isin value="US01F0426738"/>
          <ticker value="FNMA"/>
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        <balance>2300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2203148.43</valUSD>
        <pctVal>0.0731432146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HONDA AUTO RECEIVAB 4.04%</name>
        <lei>N/A</lei>
        <title>HONDA AUTO RECEIVAB 4.04%</title>
        <cusip>43813QAD1</cusip>
        <identifiers>
          <isin value="US43813QAD16"/>
          <ticker value="HAROT"/>
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        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74669.09</valUSD>
        <pctVal>0.0024789693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.040000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CARDINAL HEALTH INC 4.50%</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
        <title>CARDINAL HEALTH INC 4.50%</title>
        <cusip>14149YBU1</cusip>
        <identifiers>
          <isin value="US14149YBU10"/>
          <ticker value="CAH"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>247930.76</valUSD>
        <pctVal>0.0082311534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TIME WARNER CABLE L 7.30%</name>
        <lei>B1WXCWLJVJXMWJX6O298</lei>
        <title>TIME WARNER CABLE L 7.30%</title>
        <cusip>88732JAN8</cusip>
        <identifiers>
          <isin value="US88732JAN81"/>
          <ticker value="CHTR"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>617079.09</valUSD>
        <pctVal>0.0204866579</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PFIZER INC 7.20%</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>PFIZER INC 7.20%</title>
        <cusip>717081CY7</cusip>
        <identifiers>
          <isin value="US717081CY74"/>
          <ticker value="PFE"/>
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        <balance>311000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>364437.85</valUSD>
        <pctVal>0.0120991194</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179R7J2</cusip>
        <identifiers>
          <isin value="US36179R7J23"/>
          <ticker value="GNR"/>
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        <balance>367351.33</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>338969.97</valUSD>
        <pctVal>0.0112536009</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418B6J0</cusip>
        <identifiers>
          <isin value="US31418B6J09"/>
          <ticker value="FNMA"/>
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        <balance>91006.65</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>85837.22</valUSD>
        <pctVal>0.0028497445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ELI LILLY &amp; CO 4.55%</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>ELI LILLY &amp; CO 4.55%</title>
        <cusip>532457DD7</cusip>
        <identifiers>
          <isin value="US532457DD77"/>
          <ticker value="LLY"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>795284.61</valUSD>
        <pctVal>0.0264029750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.550000000000</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>MERCEDES-BENZ AUTO 3.93%</name>
        <lei>N/A</lei>
        <title>MERCEDES-BENZ AUTO 3.93%</title>
        <cusip>58770XAE3</cusip>
        <identifiers>
          <isin value="US58770XAE31"/>
          <ticker value="MBALT"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>24692.08</valUSD>
        <pctVal>0.0008197623</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.930000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418CAF1</cusip>
        <identifiers>
          <isin value="US31418CAF14"/>
          <ticker value="FNMA"/>
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        <balance>338560.85</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>303577.76</valUSD>
        <pctVal>0.0100786007</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MPLX LP 4.80%</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP 4.80%</title>
        <cusip>55336VAS9</cusip>
        <identifiers>
          <isin value="US55336VAS97"/>
          <ticker value="MPLX"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300645.46</valUSD>
        <pctVal>0.0099812501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALTRIA GRP. INC 5.25%</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>ALTRIA GRP. INC 5.25%</title>
        <cusip>02209SBV4</cusip>
        <identifiers>
          <isin value="US02209SBV43"/>
          <ticker value="MO"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>400117.73</valUSD>
        <pctVal>0.0132836701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FISERV INC 4.55%</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>FISERV INC 4.55%</title>
        <cusip>337738BP2</cusip>
        <identifiers>
          <isin value="US337738BP21"/>
          <ticker value="FISV"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>585732.21</valUSD>
        <pctVal>0.0194459602</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BOSTON PROPERTIES L 4.50%</name>
        <lei>BVHHEFJI6SHNOKQT2572</lei>
        <title>BOSTON PROPERTIES L 4.50%</title>
        <cusip>10112RBA1</cusip>
        <identifiers>
          <isin value="US10112RBA14"/>
          <ticker value="BXP"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99393.69</valUSD>
        <pctVal>0.0032998113</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KILROY REALTY LP 4.75%</name>
        <lei>5493008CT3N3JR7P1552</lei>
        <title>KILROY REALTY LP 4.75%</title>
        <cusip>49427RAN2</cusip>
        <identifiers>
          <isin value="US49427RAN26"/>
          <ticker value="KRC"/>
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        <balance>112000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>111149.84</valUSD>
        <pctVal>0.0036901084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL BANK 5.06%</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>INTERNATIONAL BANK 5.06%</title>
        <cusip>45906M4V0</cusip>
        <identifiers>
          <isin value="US45906M4V00"/>
          <ticker value="IBRD"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>981613.06</valUSD>
        <pctVal>0.0325889685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.06</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HSBC HLDGS. PLC F2F</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HLDGS. PLC F2F</title>
        <cusip>404280ED7</cusip>
        <identifiers>
          <isin value="US404280ED71"/>
          <ticker value="HSBC"/>
        </identifiers>
        <balance>430000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>437649.2</valUSD>
        <pctVal>0.0145296926</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.546000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNIVERSITY OF SOUT 2.805%</name>
        <lei>0GMCSQ6M60R4T46U5511</lei>
        <title>UNIVERSITY OF SOUT 2.805%</title>
        <cusip>914886AE6</cusip>
        <identifiers>
          <isin value="US914886AE62"/>
          <ticker value="USCTRJ"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>318906.08</valUSD>
        <pctVal>0.0105874918</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.805000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL RETAIL PRO 3.10%</name>
        <lei>5493008JKH5SOTI0JS97</lei>
        <title>NATIONAL RETAIL PRO 3.10%</title>
        <cusip>637417AP1</cusip>
        <identifiers>
          <isin value="US637417AP15"/>
          <ticker value="NNN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194854.04</valUSD>
        <pctVal>0.0064690380</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ONEOK INC 4.95%</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK INC 4.95%</title>
        <cusip>682680DB6</cusip>
        <identifiers>
          <isin value="US682680DB63"/>
          <ticker value="OKE"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297829.09</valUSD>
        <pctVal>0.0098877483</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHEVRON USA INC 4.50%</name>
        <lei>VA8TZDWPEZYU430RZ444</lei>
        <title>CHEVRON USA INC 4.50%</title>
        <cusip>166756BK1</cusip>
        <identifiers>
          <isin value="US166756BK18"/>
          <ticker value="CVX"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>398010.31</valUSD>
        <pctVal>0.0132137050</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MIZUHO FINANCIAL GROU F2F</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>MIZUHO FINANCIAL GROU F2F</title>
        <cusip>60687YBE8</cusip>
        <identifiers>
          <isin value="US60687YBE86"/>
          <ticker value="MIZUHO"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>919463.38</valUSD>
        <pctVal>0.0305256361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.591000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY INDIANA 2.75%</name>
        <lei>6URPHM2EAWGJ2C6ISB97</lei>
        <title>DUKE ENERGY INDIANA 2.75%</title>
        <cusip>26443TAC0</cusip>
        <identifiers>
          <isin value="US26443TAC09"/>
          <ticker value="DUK"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>245787.1</valUSD>
        <pctVal>0.0081599852</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PUBLIC STORAGE OPE 4.375%</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>PUBLIC STORAGE OPE 4.375%</title>
        <cusip>74464AAC5</cusip>
        <identifiers>
          <isin value="US74464AAC53"/>
          <ticker value="PSA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>496740.33</valUSD>
        <pctVal>0.0164914828</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN HONDA FIN. 5.15%</name>
        <lei>B6Q2VFHD1797Q7NZ3E43</lei>
        <title>AMERICAN HONDA FIN. 5.15%</title>
        <cusip>02665WGF2</cusip>
        <identifiers>
          <isin value="US02665WGF23"/>
          <ticker value="HNDA"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501012.12</valUSD>
        <pctVal>0.0166333037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</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>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>3618N5TM1</cusip>
        <identifiers>
          <isin value="US3618N5TM10"/>
          <ticker value="GNR"/>
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        <balance>2478697.69</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2445609.7</valUSD>
        <pctVal>0.0811927842</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHARTER COMMS. OPER 5.85%</name>
        <lei>N/A</lei>
        <title>CHARTER COMMS. OPER 5.85%</title>
        <cusip>161175CS1</cusip>
        <identifiers>
          <isin value="US161175CS13"/>
          <ticker value="CHTR"/>
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        <balance>900000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>871108.47</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.850000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EXXON MOBIL CORP 4.227%</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>EXXON MOBIL CORP 4.227%</title>
        <cusip>30231GBF8</cusip>
        <identifiers>
          <isin value="US30231GBF81"/>
          <ticker value="XOM"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>360287.34</valUSD>
        <pctVal>0.0119613249</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-03-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.227000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BOEING CO/THE 3.25%</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO/THE 3.25%</title>
        <cusip>097023DB8</cusip>
        <identifiers>
          <isin value="US097023DB86"/>
          <ticker value="BA"/>
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        <balance>366000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>358254.54</valUSD>
        <pctVal>0.0118938372</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31416TMF3</cusip>
        <identifiers>
          <isin value="US31416TMF39"/>
          <ticker value="FNMA"/>
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        <balance>81426.5</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80525.23</valUSD>
        <pctVal>0.0026733896</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36202FDW3</cusip>
        <identifiers>
          <isin value="US36202FDW32"/>
          <ticker value="GNR"/>
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        <balance>17361.07</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17214.45</valUSD>
        <pctVal>0.0005715095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COMMONSPIRIT HEALT 4.975%</name>
        <lei>N/A</lei>
        <title>COMMONSPIRIT HEALT 4.975%</title>
        <cusip>20268JBD4</cusip>
        <identifiers>
          <isin value="US20268JBD46"/>
          <ticker value="CATMED"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>242517.91</valUSD>
        <pctVal>0.0080514500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.975000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2F</title>
        <cusip>61748UAK8</cusip>
        <identifiers>
          <isin value="US61748UAK88"/>
          <ticker value="MS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>493174.99</valUSD>
        <pctVal>0.0163731157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.133000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>META PLATFORMS INC 4.95%</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>META PLATFORMS INC 4.95%</title>
        <cusip>30303M8N5</cusip>
        <identifiers>
          <isin value="US30303M8N52"/>
          <ticker value="META"/>
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        <balance>1800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1799160.35</valUSD>
        <pctVal>0.0597310511</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JOHN DEERE OWNER TS 4.17%</name>
        <lei>N/A</lei>
        <title>JOHN DEERE OWNER TS 4.17%</title>
        <cusip>47800UAD8</cusip>
        <identifiers>
          <isin value="US47800UAD81"/>
          <ticker value="JDOT"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49785.06</valUSD>
        <pctVal>0.0016528343</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.170000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 1.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.375%</title>
        <cusip>91282CDP3</cusip>
        <identifiers>
          <isin value="US91282CDP32"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4671679.7</valUSD>
        <pctVal>0.1550969813</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APTIV PLC / APTIV C 4.15%</name>
        <lei>N/A</lei>
        <title>APTIV PLC / APTIV C 4.15%</title>
        <cusip>00217GAC7</cusip>
        <identifiers>
          <isin value="US00217GAC78"/>
          <ticker value="APTV"/>
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        <balance>162000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>121769.44</valUSD>
        <pctVal>0.0040426728</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLP CAP. LP / GLP F 5.75%</name>
        <lei>N/A</lei>
        <title>GLP CAP. LP / GLP F 5.75%</title>
        <cusip>361841AW9</cusip>
        <identifiers>
          <isin value="US361841AW92"/>
          <ticker value="GLPI"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197079.34</valUSD>
        <pctVal>0.0065429166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCEDES-BENZ AUTO 3.88%</name>
        <lei>N/A</lei>
        <title>MERCEDES-BENZ AUTO 3.88%</title>
        <cusip>58770XAD5</cusip>
        <identifiers>
          <isin value="US58770XAD57"/>
          <ticker value="MBALT"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49688.77</valUSD>
        <pctVal>0.0016496375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.880000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 2.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.375%</title>
        <cusip>912810TF5</cusip>
        <identifiers>
          <isin value="US912810TF57"/>
          <ticker value="T"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2917187.52</valUSD>
        <pctVal>0.0968488867</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179W2W7</cusip>
        <identifiers>
          <isin value="US36179W2W70"/>
          <ticker value="GNR"/>
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        <balance>426388.4</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>386065.39</valUSD>
        <pctVal>0.0128171408</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AON NORTH AMERICA I 5.30%</name>
        <lei>N/A</lei>
        <title>AON NORTH AMERICA I 5.30%</title>
        <cusip>03740MAC4</cusip>
        <identifiers>
          <isin value="US03740MAC47"/>
          <ticker value="AON"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>305310.6</valUSD>
        <pctVal>0.0101361299</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>META PLATFORMS INC 4.60%</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>META PLATFORMS INC 4.60%</title>
        <cusip>30303M8L9</cusip>
        <identifiers>
          <isin value="US30303M8L96"/>
          <ticker value="META"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>301505.2</valUSD>
        <pctVal>0.0100097929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="101102.280000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DOMINION ENERGY INC F2V</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>DOMINION ENERGY INC F2V</title>
        <cusip>25746UDZ9</cusip>
        <identifiers>
          <isin value="US25746UDZ93"/>
          <ticker value="D"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502213.5</valUSD>
        <pctVal>0.0166731888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHUBB INA HLDGS. LL 4.90%</name>
        <lei>CZCBJZWDMLTHWJDXU843</lei>
        <title>CHUBB INA HLDGS. LL 4.90%</title>
        <cusip>171239AM8</cusip>
        <identifiers>
          <isin value="US171239AM89"/>
          <ticker value="CB"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>295824.69</valUSD>
        <pctVal>0.0098212034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</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>BROWN &amp; BROWN INC 4.95%</name>
        <lei>549300PC8KTJ71XKFY89</lei>
        <title>BROWN &amp; BROWN INC 4.95%</title>
        <cusip>115236AF8</cusip>
        <identifiers>
          <isin value="US115236AF88"/>
          <ticker value="BRO"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>169206.92</valUSD>
        <pctVal>0.0056175689</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</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>GENERAL MOTORS FINL 4.30%</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>GENERAL MOTORS FINL 4.30%</title>
        <cusip>37045XDV5</cusip>
        <identifiers>
          <isin value="US37045XDV55"/>
          <ticker value="GM"/>
        </identifiers>
        <balance>82000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80984.35</valUSD>
        <pctVal>0.0026886321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</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>FREDDIE MAC MULTIFA 1.35%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFA 1.35%</title>
        <cusip>3137FUZC1</cusip>
        <identifiers>
          <isin value="US3137FUZC12"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>446279.95</valUSD>
        <pctVal>0.0148162283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.350000000000</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>INTERNATIONAL BANK 4.00%</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>INTERNATIONAL BANK 4.00%</title>
        <cusip>459058KU6</cusip>
        <identifiers>
          <isin value="US459058KU68"/>
          <ticker value="IBRD"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>496156.42</valUSD>
        <pctVal>0.0164720974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>PFIZER INV. ENTS. P 5.11%</name>
        <lei>5493000FQO8XF9C0RT95</lei>
        <title>PFIZER INV. ENTS. P 5.11%</title>
        <cusip>716973AF9</cusip>
        <identifiers>
          <isin value="US716973AF98"/>
          <ticker value="PFE"/>
        </identifiers>
        <balance>560000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>530622.14</valUSD>
        <pctVal>0.0176163387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-05-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.110000000000</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>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
        <cusip>3132DQG75</cusip>
        <identifiers>
          <isin value="US3132DQG752"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>389045.19</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>385031.02</valUSD>
        <pctVal>0.0127828003</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>GM FINL. AUTOMOBILE 4.20%</name>
        <lei>N/A</lei>
        <title>GM FINL. AUTOMOBILE 4.20%</title>
        <cusip>379965AE6</cusip>
        <identifiers>
          <isin value="US379965AE62"/>
          <ticker value="GMALT"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49857.13</valUSD>
        <pctVal>0.0016552270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</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>MCDONALD S CORP 5.00%</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>MCDONALD S CORP 5.00%</title>
        <cusip>58013MGC2</cusip>
        <identifiers>
          <isin value="US58013MGC29"/>
          <ticker value="MCD"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249144.13</valUSD>
        <pctVal>0.0082714366</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>SUMITOMO MITSUI FINL. F2F</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>SUMITOMO MITSUI FINL. F2F</title>
        <cusip>86562MDZ0</cusip>
        <identifiers>
          <isin value="US86562MDZ05"/>
          <ticker value="SUMIBK"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198591.85</valUSD>
        <pctVal>0.0065931310</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.954000000000</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>GEORGIA POWER CO 4.65%</name>
        <lei>D981X4Z4RWS7PDMJUZ03</lei>
        <title>GEORGIA POWER CO 4.65%</title>
        <cusip>373334KS9</cusip>
        <identifiers>
          <isin value="US373334KS95"/>
          <ticker value="SO"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100299.3</valUSD>
        <pctVal>0.0033298770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BROADCOM INC 5.20%</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>BROADCOM INC 5.20%</title>
        <cusip>11135FCM1</cusip>
        <identifiers>
          <isin value="US11135FCM14"/>
          <ticker value="AVGO"/>
        </identifiers>
        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>702353.09</valUSD>
        <pctVal>0.0233177039</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</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>SUMITOMO MITSUI FINL. F2F</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>SUMITOMO MITSUI FINL. F2F</title>
        <cusip>86562MEB2</cusip>
        <identifiers>
          <isin value="US86562MEB28"/>
          <ticker value="SUMIBK"/>
        </identifiers>
        <balance>1350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1328936.4</valUSD>
        <pctVal>0.0441198963</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.796000000000</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>SEMPRA F2V</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>SEMPRA F2V</title>
        <cusip>816851BW8</cusip>
        <identifiers>
          <isin value="US816851BW83"/>
          <ticker value="SRE"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>505030</valUSD>
        <pctVal>0.0167666950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000</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>BAIDU INC 4.375%</name>
        <lei>254900AL64IANZYI1E02</lei>
        <title>BAIDU INC 4.375%</title>
        <cusip>056752AL2</cusip>
        <identifiers>
          <isin value="US056752AL23"/>
          <ticker value="BIDU"/>
        </identifiers>
        <balance>870000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>868103.43</valUSD>
        <pctVal>0.0288205164</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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        <name>FREDDIE MAC POOL 2.50%</name>
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        <name>FREDDIE MAC POOL 6.00%</name>
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        <name>FANNIE MAE POOL 5.50%</name>
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        <title>UNITED STATES TSY. 3.875%</title>
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        <lei>254900HROIFWPRGM1V77</lei>
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        <curCd>USD</curCd>
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        <name>AMCOR FLEXIBLES NOR 5.10%</name>
        <lei>PTVU09TE3QPJPL7K4E13</lei>
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          <ticker value="AMCR"/>
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        <curCd>USD</curCd>
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        <name>FANNIE MAE POOL 6.00%</name>
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        <lei>254900HROIFWPRGM1V77</lei>
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        <name>GINNIE MAE I POOL 5.50%</name>
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        <name>FANNIE MAE POOL 6.00%</name>
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        <name>FANNIE MAE POOL FRN</name>
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        <name>GINNIE MAE II POOL 3.00%</name>
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        <name>SOUTHERN CO/THE 4.40%</name>
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          <ticker value="SO"/>
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        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CO 4.183%</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CO 4.183%</title>
        <cusip>06051GGC7</cusip>
        <identifiers>
          <isin value="US06051GGC78"/>
          <ticker value="BAC"/>
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        <balance>146000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145287.61</valUSD>
        <pctVal>0.0048234620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.183000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 2.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.75%</title>
        <cusip>912810RZ3</cusip>
        <identifiers>
          <isin value="US912810RZ30"/>
          <ticker value="T"/>
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        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2114765.64</valUSD>
        <pctVal>0.0702089586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES VAR</title>
        <cusip>3136B3DE7</cusip>
        <identifiers>
          <isin value="US3136B3DE75"/>
          <ticker value="FNMA"/>
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        <balance>130951.26</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>127667.12</valUSD>
        <pctVal>0.0042384723</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.893000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36202FGW0</cusip>
        <identifiers>
          <isin value="US36202FGW05"/>
          <ticker value="GNR"/>
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        <balance>50294.96</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49870.13</valUSD>
        <pctVal>0.0016556586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ANHEUSER-BUSCH INBE 8.00%</name>
        <lei>549300CRGMZK3K53BF92</lei>
        <title>ANHEUSER-BUSCH INBE 8.00%</title>
        <cusip>03523TBJ6</cusip>
        <identifiers>
          <isin value="US03523TBJ60"/>
          <ticker value="ABIBB"/>
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        <balance>310000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>386465.36</valUSD>
        <pctVal>0.0128304196</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KINDER MORGAN ENER 6.375%</name>
        <lei>549300PDHUGWPWGOT525</lei>
        <title>KINDER MORGAN ENER 6.375%</title>
        <cusip>494550BH8</cusip>
        <identifiers>
          <isin value="US494550BH82"/>
          <ticker value="KMI"/>
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        <balance>35000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37018.55</valUSD>
        <pctVal>0.0012289938</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO 5.60%</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO 5.60%</title>
        <cusip>46625HJB7</cusip>
        <identifiers>
          <isin value="US46625HJB78"/>
          <ticker value="JPM"/>
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        <balance>405000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>411919.72</valUSD>
        <pctVal>0.0136754892</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36202FX76</cusip>
        <identifiers>
          <isin value="US36202FX761"/>
          <ticker value="GNR"/>
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        <balance>118933.89</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>111645.87</valUSD>
        <pctVal>0.0037065763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL PAPER 6.00%</name>
        <lei>824LMFJDH41EY779Q875</lei>
        <title>INTERNATIONAL PAPER 6.00%</title>
        <cusip>460146CH4</cusip>
        <identifiers>
          <isin value="US460146CH42"/>
          <ticker value="IP"/>
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        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>352624.77</valUSD>
        <pctVal>0.0117069322</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TWDC ENTS. 18 CORP 4.125%</name>
        <lei>7260JQNI6SCF9FIV2392</lei>
        <title>TWDC ENTS. 18 CORP 4.125%</title>
        <cusip>25468PCR5</cusip>
        <identifiers>
          <isin value="US25468PCR55"/>
          <ticker value="DIS"/>
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        <balance>105000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89994.7</valUSD>
        <pctVal>0.0029877704</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BERKSHIRE HATHAWAY 4.40%</name>
        <lei>549300RLHFT5RU20WM87</lei>
        <title>BERKSHIRE HATHAWAY 4.40%</title>
        <cusip>084664BU4</cusip>
        <identifiers>
          <isin value="US084664BU46"/>
          <ticker value="BRK"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89339.89</valUSD>
        <pctVal>0.0029660311</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BBCMS MTGE. TST. 2 5.586%</name>
        <lei>N/A</lei>
        <title>BBCMS MTGE. TST. 2 5.586%</title>
        <cusip>07337DAC4</cusip>
        <identifiers>
          <isin value="US07337DAC48"/>
          <ticker value="BBCMS"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>258834.23</valUSD>
        <pctVal>0.0085931421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-07-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.586000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WELLS FARGO COMMER. 5.59%</name>
        <lei>N/A</lei>
        <title>WELLS FARGO COMMER. 5.59%</title>
        <cusip>95004MAC1</cusip>
        <identifiers>
          <isin value="US95004MAC10"/>
          <ticker value="WFCM"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204123.86</valUSD>
        <pctVal>0.0067767905</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.590000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 2.438%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 2.438%</title>
        <cusip>3137FYTX4</cusip>
        <identifiers>
          <isin value="US3137FYTX45"/>
          <ticker value="FHLB"/>
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        <balance>225000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>185263.11</valUSD>
        <pctVal>0.0061506248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.438000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EQUITABLE HLDGS. IN 5.00%</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>EQUITABLE HLDGS. IN 5.00%</title>
        <cusip>054561AM7</cusip>
        <identifiers>
          <isin value="US054561AM77"/>
          <ticker value="EQH"/>
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        <balance>136000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>118852.33</valUSD>
        <pctVal>0.0039458265</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PFIZER INV. ENTS. P 4.45%</name>
        <lei>5493000FQO8XF9C0RT95</lei>
        <title>PFIZER INV. ENTS. P 4.45%</title>
        <cusip>716973AC6</cusip>
        <identifiers>
          <isin value="US716973AC67"/>
          <ticker value="PFE"/>
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        <balance>520000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>520376.85</valUSD>
        <pctVal>0.0172762012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MIZUHO FINL. GRP. INC F2V</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>MIZUHO FINL. GRP. INC F2V</title>
        <cusip>60687YDM8</cusip>
        <identifiers>
          <isin value="US60687YDM84"/>
          <ticker value="MIZUHO"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300829.86</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-07-08</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALTRIA GRP. INC 4.50%</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>ALTRIA GRP. INC 4.50%</title>
        <cusip>02209SAQ6</cusip>
        <identifiers>
          <isin value="US02209SAQ66"/>
          <ticker value="MO"/>
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        <balance>410000</balance>
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        <curCd>USD</curCd>
        <valUSD>344790.46</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-05-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LOCKHEED MARTIN COR 4.07%</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>LOCKHEED MARTIN COR 4.07%</title>
        <cusip>539830BB4</cusip>
        <identifiers>
          <isin value="US539830BB41"/>
          <ticker value="LMT"/>
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        <balance>168000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>142278.54</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.070000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENERGY TRANSFER LP 6.25%</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP 6.25%</title>
        <cusip>29279FAA7</cusip>
        <identifiers>
          <isin value="US29279FAA75"/>
          <ticker value="ET"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>399022.7</valUSD>
        <pctVal>0.0132473158</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CROWN CASTLE INTERN 5.20%</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>CROWN CASTLE INTERN 5.20%</title>
        <cusip>22822VAM3</cusip>
        <identifiers>
          <isin value="US22822VAM37"/>
          <ticker value="CCI"/>
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        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>312699.41</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179VDN7</cusip>
        <identifiers>
          <isin value="US36179VDN73"/>
          <ticker value="GNR"/>
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        <balance>371437.8</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>330152.74</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BP CAP. MKTS. AMER 4.234%</name>
        <lei>5493009NTB34VXE1T760</lei>
        <title>BP CAP. MKTS. AMER 4.234%</title>
        <cusip>10373QAE0</cusip>
        <identifiers>
          <isin value="US10373QAE08"/>
          <ticker value="BPLN"/>
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        <balance>428000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>425228.5</valUSD>
        <pctVal>0.0141173327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.234000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CSX CORP 4.75%</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX CORP 4.75%</title>
        <cusip>126408HN6</cusip>
        <identifiers>
          <isin value="US126408HN64"/>
          <ticker value="CSX"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>176925.61</valUSD>
        <pctVal>0.0058738248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INTERNATIONAL BANK 4.75%</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>INTERNATIONAL BANK 4.75%</title>
        <cusip>45905CAA2</cusip>
        <identifiers>
          <isin value="US45905CAA27"/>
          <ticker value="IBRD"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25586.8</valUSD>
        <pctVal>0.0008494665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RIO TINTO ALCAN INC 5.75%</name>
        <lei>2138007ZSQ7B17SKOX77</lei>
        <title>RIO TINTO ALCAN INC 5.75%</title>
        <cusip>013716AW5</cusip>
        <identifiers>
          <isin value="US013716AW59"/>
          <ticker value="RIOLN"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104591.27</valUSD>
        <pctVal>0.0034723678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36179YDH4</cusip>
        <identifiers>
          <isin value="US36179YDH45"/>
          <ticker value="GNR"/>
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        <balance>833071</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>804081.25</valUSD>
        <pctVal>0.0266950182</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 7.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 7.00%</title>
        <cusip>3133CDHL1</cusip>
        <identifiers>
          <isin value="US3133CDHL11"/>
          <ticker value="FHLMC"/>
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        <balance>296148.36</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>317423.39</valUSD>
        <pctVal>0.0105382673</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000</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>
        <name>EXELON CORP 5.625%</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>EXELON CORP 5.625%</title>
        <cusip>30161NAC5</cusip>
        <identifiers>
          <isin value="US30161NAC56"/>
          <ticker value="EXC"/>
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        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>76776.61</valUSD>
        <pctVal>0.0025489377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31402C4J8</cusip>
        <identifiers>
          <isin value="US31402C4J86"/>
          <ticker value="FNMA"/>
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        <balance>9079.65</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9179.92</valUSD>
        <pctVal>0.0003047679</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DOMINION ENERGY INC 5.95%</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>DOMINION ENERGY INC 5.95%</title>
        <cusip>25746UAV1</cusip>
        <identifiers>
          <isin value="US25746UAV17"/>
          <ticker value="D"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>525187.41</valUSD>
        <pctVal>0.0174359089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHERN CALIFORNIA 5.35%</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>SOUTHERN CALIFORNIA 5.35%</title>
        <cusip>842400FA6</cusip>
        <identifiers>
          <isin value="US842400FA61"/>
          <ticker value="EIX"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>394224.28</valUSD>
        <pctVal>0.0130880111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>31402RDF3</cusip>
        <identifiers>
          <isin value="US31402RDF38"/>
          <ticker value="FNMA"/>
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        <balance>3478.7</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3571.12</valUSD>
        <pctVal>0.0001185591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31407CJ65</cusip>
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        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140JHY23</cusip>
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      <invstOrSec>
        <name>KIMBERLY-CLARK COR 2.875%</name>
        <lei>MP3J6QPYPGN75NVW2S34</lei>
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        <cusip>494368CA9</cusip>
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          <ticker value="KMB"/>
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      <invstOrSec>
        <name>DUKE ENERGY INDIANA 6.12%</name>
        <lei>6URPHM2EAWGJ2C6ISB97</lei>
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        <cusip>693627AY7</cusip>
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          <ticker value="DUK"/>
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        <curCd>USD</curCd>
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        <name>EUROPEAN INVESTMEN 4.875%</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>EUROPEAN INVESTMEN 4.875%</title>
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          <ticker value="EIB"/>
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        <curCd>USD</curCd>
        <valUSD>206322.46</valUSD>
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        <issuerCat>NUSS</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NOVARTIS CAP. CORP 2.20%</name>
        <lei>5493002KF87V5RSRQS84</lei>
        <title>NOVARTIS CAP. CORP 2.20%</title>
        <cusip>66989HAR9</cusip>
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        <curCd>USD</curCd>
        <valUSD>479908.46</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>UNITED STATES TSY. 0.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 0.50%</title>
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          <ticker value="T"/>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>PUGET SOUND ENERGY 5.638%</name>
        <lei>8MNFJR7KOMBQ7X62LK44</lei>
        <title>PUGET SOUND ENERGY 5.638%</title>
        <cusip>745332CD6</cusip>
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          <ticker value="PSD"/>
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        <curCd>USD</curCd>
        <valUSD>337838.84</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>EVERGY METRO INC 5.30%</name>
        <lei>1128SIJQ26096WL7IO82</lei>
        <title>EVERGY METRO INC 5.30%</title>
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          <isin value="US485134BM13"/>
          <ticker value="EVRG"/>
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        <curCd>USD</curCd>
        <valUSD>48822.65</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>GINNIE MAE I POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 5.00%</title>
        <cusip>36241K7H5</cusip>
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          <isin value="US36241K7H51"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>73917.1</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DUKE ENERGY INDIANA 4.90%</name>
        <lei>6URPHM2EAWGJ2C6ISB97</lei>
        <title>DUKE ENERGY INDIANA 4.90%</title>
        <cusip>263901AF7</cusip>
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          <isin value="US263901AF72"/>
          <ticker value="DUK"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>460363.52</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</annualizedRt>
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      <invstOrSec>
        <name>COMMONWEALTH EDISON 4.60%</name>
        <lei>D8YOXB8L2ZDC8P7Q0771</lei>
        <title>COMMONWEALTH EDISON 4.60%</title>
        <cusip>202795JB7</cusip>
        <identifiers>
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          <ticker value="EXC"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>88243.73</valUSD>
        <pctVal>0.0029296392</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.600000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GATX CORP 5.20%</name>
        <lei>549300IHYHCQP2PIR591</lei>
        <title>GATX CORP 5.20%</title>
        <cusip>361448AU7</cusip>
        <identifiers>
          <isin value="US361448AU75"/>
          <ticker value="GATX"/>
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        <balance>35000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>32500.25</valUSD>
        <pctVal>0.0010789889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138EMZU8</cusip>
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          <isin value="US3138EMZU85"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>11649.08</valUSD>
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          <couponKind>Fixed</couponKind>
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        <name>MEXICO GOV. INTL. B 4.60%</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEXICO GOV. INTL. B 4.60%</title>
        <cusip>91086QBF4</cusip>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>385500</valUSD>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WASTE MGT. INC 2.50%</name>
        <lei>549300YX8JIID70NFS41</lei>
        <title>WASTE MGT. INC 2.50%</title>
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          <ticker value="WM"/>
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        <curCd>USD</curCd>
        <valUSD>299317.86</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FANNIE MAE-ACES VAR</title>
        <cusip>3136BF4D2</cusip>
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          <isin value="US3136BF4D29"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>174500.88</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31418CMG6</cusip>
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          <ticker value="FNMA"/>
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        <valUSD>91694.57</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC F2F</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC F2F</title>
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          <ticker value="C"/>
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        <curCd>USD</curCd>
        <valUSD>27754.04</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMERICAN WATER CAPI 2.95%</name>
        <lei>5IDHQUFVC8Q2KIBBFF06</lei>
        <title>AMERICAN WATER CAPI 2.95%</title>
        <cusip>03040WAQ8</cusip>
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          <isin value="US03040WAQ87"/>
          <ticker value="AWK"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>984458.18</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>ZOETIS INC 3.95%</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>ZOETIS INC 3.95%</title>
        <cusip>98978VAM5</cusip>
        <identifiers>
          <isin value="US98978VAM54"/>
          <ticker value="ZTS"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194982.96</valUSD>
        <pctVal>0.0064733180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-09-12</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>3140JHJW4</cusip>
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          <isin value="US3140JHJW40"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>83075.23</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BOEING CO/THE 3.20%</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO/THE 3.20%</title>
        <cusip>097023CD5</cusip>
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          <isin value="US097023CD51"/>
          <ticker value="BA"/>
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        <balance>159000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153289.72</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.200000000000</annualizedRt>
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      <invstOrSec>
        <name>WELLTOWER OP LLC 4.125%</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>WELLTOWER OP LLC 4.125%</title>
        <cusip>95040QAH7</cusip>
        <identifiers>
          <isin value="US95040QAH74"/>
          <ticker value="WELL"/>
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        <balance>260000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>256920.38</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 3.718%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIF 3.718%</title>
        <cusip>3137FL2L7</cusip>
        <identifiers>
          <isin value="US3137FL2L77"/>
          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>96637.67</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3140J92W0</cusip>
        <identifiers>
          <isin value="US3140J92W07"/>
          <ticker value="FNMA"/>
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        <balance>80582.72</balance>
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        <curCd>USD</curCd>
        <valUSD>78485.84</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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      <invstOrSec>
        <name>BARCLAYS COMMER. M 3.583%</name>
        <lei>N/A</lei>
        <title>BARCLAYS COMMER. M 3.583%</title>
        <cusip>05550MAU8</cusip>
        <identifiers>
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          <ticker value="BBCMS"/>
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        <curCd>USD</curCd>
        <valUSD>193218.66</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>3131XHAF3</cusip>
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          <ticker value="FHLMC"/>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3131WREZ4</cusip>
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        <issuerCat>USGSE</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>3132A5EB7</cusip>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>3132DV4C6</cusip>
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          <ticker value="FHLMC"/>
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        <balance>258673.17</balance>
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        <curCd>USD</curCd>
        <valUSD>250776.54</valUSD>
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      <invstOrSec>
        <name>VERIZON COMMS. INC 3.15%</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMS. INC 3.15%</title>
        <cusip>92343VFE9</cusip>
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          <ticker value="VZ"/>
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        <curCd>USD</curCd>
        <valUSD>1283779.62</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-22</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PEPSICO INC 2.75%</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PEPSICO INC 2.75%</title>
        <cusip>713448ES3</cusip>
        <identifiers>
          <isin value="US713448ES36"/>
          <ticker value="PEP"/>
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        <balance>483000</balance>
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        <curCd>USD</curCd>
        <valUSD>455032.89</valUSD>
        <pctVal>0.0151068207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-19</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EXXON MOBIL CORP 3.482%</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>EXXON MOBIL CORP 3.482%</title>
        <cusip>30231GBK7</cusip>
        <identifiers>
          <isin value="US30231GBK76"/>
          <ticker value="XOM"/>
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        <balance>125000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>121022.92</valUSD>
        <pctVal>0.0040178888</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.482000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REGENCY CENTERS LP 3.70%</name>
        <lei>5493008PTR2GAOYBXW28</lei>
        <title>REGENCY CENTERS LP 3.70%</title>
        <cusip>75884RBA0</cusip>
        <identifiers>
          <isin value="US75884RBA05"/>
          <ticker value="REG"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>385910.58</valUSD>
        <pctVal>0.0128120012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EQUINOR ASA 2.375%</name>
        <lei>OW6OFBNCKXC4US5C7523</lei>
        <title>EQUINOR ASA 2.375%</title>
        <cusip>29446MAK8</cusip>
        <identifiers>
          <isin value="US29446MAK80"/>
          <ticker value="EQNR"/>
        </identifiers>
        <balance>870000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>802065.62</valUSD>
        <pctVal>0.0266281005</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>31418DSM5</cusip>
        <identifiers>
          <isin value="US31418DSM55"/>
          <ticker value="FNMA"/>
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        <balance>692476.88</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>632780.92</valUSD>
        <pctVal>0.0210079493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CUMMINS INC 1.50%</name>
        <lei>ZUNI8PYC725B6H8JU438</lei>
        <title>CUMMINS INC 1.50%</title>
        <cusip>231021AT3</cusip>
        <identifiers>
          <isin value="US231021AT37"/>
          <ticker value="CMI"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>443186.05</valUSD>
        <pctVal>0.0147135127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 2.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.75%</title>
        <cusip>91282CES6</cusip>
        <identifiers>
          <isin value="US91282CES61"/>
          <ticker value="T"/>
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        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3365605.46</valUSD>
        <pctVal>0.1117360950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DRIVE AUTO RECEIVAB 5.41%</name>
        <lei>N/A</lei>
        <title>DRIVE AUTO RECEIVAB 5.41%</title>
        <cusip>262102AF3</cusip>
        <identifiers>
          <isin value="US262102AF30"/>
          <ticker value="DRIVE"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25090.39</valUSD>
        <pctVal>0.0008329860</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.410000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ECOLAB INC 4.30%</name>
        <lei>82DYEISM090VG8LTLS26</lei>
        <title>ECOLAB INC 4.30%</title>
        <cusip>278865BQ2</cusip>
        <identifiers>
          <isin value="US278865BQ21"/>
          <ticker value="ECL"/>
        </identifiers>
        <balance>1130000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1127382.26</valUSD>
        <pctVal>0.0374284190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CVS HEALTH CORP 5.45%</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 5.45%</title>
        <cusip>126650EK2</cusip>
        <identifiers>
          <isin value="US126650EK24"/>
          <ticker value="CVS"/>
        </identifiers>
        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>607761.7</valUSD>
        <pctVal>0.0201773262</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.450000000000</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>MERCK INC 5.70%</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MERCK INC 5.70%</title>
        <cusip>58933YBT1</cusip>
        <identifiers>
          <isin value="US58933YBT10"/>
          <ticker value="MRK"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>402468.5</valUSD>
        <pctVal>0.0133617143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</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>LOWE S COS INC 4.25%</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>LOWE S COS INC 4.25%</title>
        <cusip>548661EV5</cusip>
        <identifiers>
          <isin value="US548661EV56"/>
          <ticker value="LOW"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244930.31</valUSD>
        <pctVal>0.0081315403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORD MOTOR CREDIT 5.753%</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>FORD MOTOR CREDIT 5.753%</title>
        <cusip>345397J38</cusip>
        <identifiers>
          <isin value="US345397J382"/>
          <ticker value="F"/>
        </identifiers>
        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>793451.98</valUSD>
        <pctVal>0.0263421328</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-04-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.753000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CENCORA INC 4.90%</name>
        <lei>AI8GXW8LG5WK7E9UD086</lei>
        <title>CENCORA INC 4.90%</title>
        <cusip>03073EBE4</cusip>
        <identifiers>
          <isin value="US03073EBE41"/>
          <ticker value="COR"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>97431.3</valUSD>
        <pctVal>0.0032346611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HYUNDAI AUTO RECEIV 4.10%</name>
        <lei>N/A</lei>
        <title>HYUNDAI AUTO RECEIV 4.10%</title>
        <cusip>448981AF7</cusip>
        <identifiers>
          <isin value="US448981AF72"/>
          <ticker value="HART"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49054.43</valUSD>
        <pctVal>0.0016285778</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FIDELITY NATL. INFO 4.80%</name>
        <lei>6WQI0GK1PRFVBA061U48</lei>
        <title>FIDELITY NATL. INFO 4.80%</title>
        <cusip>31620MCE4</cusip>
        <identifiers>
          <isin value="US31620MCE49"/>
          <ticker value="FIS"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>494533.25</valUSD>
        <pctVal>0.0164182091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAKER HUGHES HLDGS. 4.35%</name>
        <lei>N/A</lei>
        <title>BAKER HUGHES HLDGS. 4.35%</title>
        <cusip>05724BAM1</cusip>
        <identifiers>
          <isin value="US05724BAM19"/>
          <ticker value="BHI"/>
        </identifiers>
        <balance>1110000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1087593.93</valUSD>
        <pctVal>0.0361074702</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BMO 2026-5C14 MTG 5.2094%</name>
        <lei>N/A</lei>
        <title>BMO 2026-5C14 MTG 5.2094%</title>
        <cusip>05594WAC4</cusip>
        <identifiers>
          <isin value="US05594WAC47"/>
          <ticker value="BMO"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>505247.3</valUSD>
        <pctVal>0.0167739092</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2059-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.209400000000</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>AIRBNB INC 4.40%</name>
        <lei>549300HMUDNO0RY56D37</lei>
        <title>AIRBNB INC 4.40%</title>
        <cusip>009066AC5</cusip>
        <identifiers>
          <isin value="US009066AC57"/>
          <ticker value="ABNB"/>
        </identifiers>
        <balance>810000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>805610.12</valUSD>
        <pctVal>0.0267457758</pctVal>
        <payoffProfile>Long</payoffProfile>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140W55Q3</cusip>
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        <curCd>USD</curCd>
        <valUSD>495703.91</valUSD>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>APPALACHIAN POWER 4.961%</name>
        <lei>N/A</lei>
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          <ticker value="AEP"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <name>CONSOLIDATED EDISON 5.85%</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>CONSOLIDATED EDISON 5.85%</title>
        <cusip>209111EL3</cusip>
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          <isin value="US209111EL38"/>
          <ticker value="ED"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104708.93</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>URUGUAY GOV. INTL. 7.625%</name>
        <lei>549300RDR012H2V82H43</lei>
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        <cusip>760942AS1</cusip>
        <identifiers>
          <isin value="US760942AS16"/>
          <ticker value="URUGUA"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>294725</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>UY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-21</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>CHUBB INA HOLDINGS 6.70%</name>
        <lei>CZCBJZWDMLTHWJDXU843</lei>
        <title>CHUBB INA HOLDINGS 6.70%</title>
        <cusip>00440EAH0</cusip>
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          <ticker value="CB"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>55812.61</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.700000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>HUMANA INC 5.75%</name>
        <lei>529900YLDW34GJAO4J06</lei>
        <title>HUMANA INC 5.75%</title>
        <cusip>444859BZ4</cusip>
        <identifiers>
          <isin value="US444859BZ42"/>
          <ticker value="HUM"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510852.26</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>TOTALENERGIES CAP. 5.15%</name>
        <lei>529900QI55ZLJVCMPA71</lei>
        <title>TOTALENERGIES CAP. 5.15%</title>
        <cusip>89157XAA9</cusip>
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          <ticker value="TTEFP"/>
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        <curCd>USD</curCd>
        <valUSD>405682.02</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>XL GROUP LTD 5.25%</name>
        <lei>213800AJ4DD69YLNL348</lei>
        <title>XL GROUP LTD 5.25%</title>
        <cusip>98420EAB1</cusip>
        <identifiers>
          <isin value="US98420EAB11"/>
          <ticker value="XL"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47010.31</valUSD>
        <pctVal>0.0015607143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
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        <cusip>46647PFC5</cusip>
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          <isin value="US46647PFC59"/>
          <ticker value="JPM"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>406077.09</valUSD>
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        <assetCat>DBT</assetCat>
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      <invstOrSec>
        <name>FEDERAL NATL. MTGE 6.625%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31359MGK3</cusip>
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          <ticker value="FNMA"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>219118.43</valUSD>
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      <invstOrSec>
        <name>CANADIAN NATL. RAIL 6.20%</name>
        <lei>3SU7BEP7TH9YEQOZCS77</lei>
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        <cusip>136375BN1</cusip>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31403DDX4</cusip>
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          <isin value="US31403DDX49"/>
          <ticker value="FNMA"/>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN B 5.50%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FEDERAL HOME LOAN B 5.50%</title>
        <cusip>3133XGAY0</cusip>
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          <ticker value="FHLB"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>539112.07</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIGROUP INC 6.125%</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 6.125%</title>
        <cusip>172967DR9</cusip>
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        <name>FANNIE MAE POOL 6.00%</name>
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        <name>FANNIE MAE POOL 5.00%</name>
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        <name>NEVADA POWER CO 6.65%</name>
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        <name>KINDER MORGAN ENERG 7.30%</name>
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        <name>FANNIE MAE-ACES VAR</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>GINNIE MAE II POOL 2.50%</name>
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        <name>PROVINCE OF MANITOB 4.90%</name>
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        <name>UNITEDHEALTH GRP. I 5.75%</name>
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      <invstOrSec>
        <name>CHUBB CORP/THE 6.50%</name>
        <lei>N/A</lei>
        <title>CHUBB CORP/THE 6.50%</title>
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        <name>GINNIE MAE I POOL 6.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>TENNESSEE VALLEY AU 5.25%</name>
        <lei>549300HE1ISW43LNKM54</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KROGER CO/THE 5.40%</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
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          <ticker value="KR"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <ticker value="FNMA"/>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.25%</title>
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          <ticker value="T"/>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
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        <identifiers>
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          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4978906.25</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>S&amp;P GBL. INC 5.25%</name>
        <lei>Y6X4K52KMJMZE7I7MY94</lei>
        <title>S&amp;P GBL. INC 5.25%</title>
        <cusip>78409VBQ6</cusip>
        <identifiers>
          <isin value="US78409VBQ68"/>
          <ticker value="SPGI"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>306176.46</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HEWLETT PACKARD ENT 4.85%</name>
        <lei>549300BX44RGX6ANDV88</lei>
        <title>HEWLETT PACKARD ENT 4.85%</title>
        <cusip>42824CBU2</cusip>
        <identifiers>
          <isin value="US42824CBU27"/>
          <ticker value="HPE"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>796684.89</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.00%</title>
        <cusip>3128LXJH4</cusip>
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          <isin value="US3128LXJH41"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOEING CO/THE 6.125%</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO/THE 6.125%</title>
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          <ticker value="BA"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>143490.35</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>COMCAST CORP 7.05%</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP 7.05%</title>
        <cusip>20030NAC5</cusip>
        <identifiers>
          <isin value="US20030NAC56"/>
          <ticker value="CMCSA"/>
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        <balance>140000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>155521.97</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>MEXICO GOV. INTL. B 4.75%</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEXICO GOV. INTL. B 4.75%</title>
        <cusip>91086QBB3</cusip>
        <identifiers>
          <isin value="US91086QBB32"/>
          <ticker value="MEX"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>804000</valUSD>
        <pctVal>0.0266923207</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>3138ECTY9</cusip>
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          <ticker value="FNMA"/>
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        <valUSD>12588.92</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>27318.24</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>31416CJY3</cusip>
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          <isin value="US31416CJY30"/>
          <ticker value="FNMA"/>
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        <valUSD>20195.39</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RIO TINTO FIN. USA 4.125%</name>
        <lei>2138006TSNBEUA761G16</lei>
        <title>RIO TINTO FIN. USA 4.125%</title>
        <cusip>76720AAG1</cusip>
        <identifiers>
          <isin value="US76720AAG13"/>
          <ticker value="RIOLN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>256191.34</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-08-21</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 7.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 7.00%</title>
        <cusip>3140XNKZ6</cusip>
        <identifiers>
          <isin value="US3140XNKZ63"/>
          <ticker value="FNMA"/>
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        <balance>880764.06</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>930119.31</valUSD>
        <pctVal>0.0308794066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KEURIG DR PEPPER IN 5.05%</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>KEURIG DR PEPPER IN 5.05%</title>
        <cusip>49271VAT7</cusip>
        <identifiers>
          <isin value="US49271VAT70"/>
          <ticker value="KDP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503692.09</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.050000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENERGY TRANSFER LP 4.95%</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP 4.95%</title>
        <cusip>86765BAM1</cusip>
        <identifiers>
          <isin value="US86765BAM19"/>
          <ticker value="ET"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>441585.82</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
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          <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>COMCAST CORP 4.25%</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP 4.25%</title>
        <cusip>20030NBH3</cusip>
        <identifiers>
          <isin value="US20030NBH35"/>
          <ticker value="CMCSA"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>380961.43</valUSD>
        <pctVal>0.0126476924</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 6.00%</title>
        <cusip>3128L1KQ2</cusip>
        <identifiers>
          <isin value="US3128L1KQ21"/>
          <ticker value="FHLMC"/>
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        <balance>2759.76</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2888.98</valUSD>
        <pctVal>0.0000959124</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN WATER CAP 6.593%</name>
        <lei>5IDHQUFVC8Q2KIBBFF06</lei>
        <title>AMERICAN WATER CAP 6.593%</title>
        <cusip>03040WAD7</cusip>
        <identifiers>
          <isin value="US03040WAD74"/>
          <ticker value="AWK"/>
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        <balance>105000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>117276.28</valUSD>
        <pctVal>0.0038935026</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.593000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HUMANA INC 5.375%</name>
        <lei>529900YLDW34GJAO4J06</lei>
        <title>HUMANA INC 5.375%</title>
        <cusip>444859CA8</cusip>
        <identifiers>
          <isin value="US444859CA81"/>
          <ticker value="HUM"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>304049.84</valUSD>
        <pctVal>0.0100942734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.375000000000</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>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36180AB85</cusip>
        <identifiers>
          <isin value="US36180AB857"/>
          <ticker value="GNR"/>
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        <balance>1521676.05</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1466745.6</valUSD>
        <pctVal>0.0486950796</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <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>CONSOLIDATED EDISON 3.95%</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>CONSOLIDATED EDISON 3.95%</title>
        <cusip>209111FC2</cusip>
        <identifiers>
          <isin value="US209111FC20"/>
          <ticker value="ED"/>
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        <balance>120000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>97369.98</valUSD>
        <pctVal>0.0032326253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179M5L0</cusip>
        <identifiers>
          <isin value="US36179M5L06"/>
          <ticker value="GNR"/>
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        <balance>225389.61</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>205460.35</valUSD>
        <pctVal>0.0068211611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>
        <name>NEW MOUNTAIN FIN. C 6.20%</name>
        <lei>549300L1MPTT1H7SES77</lei>
        <title>NEW MOUNTAIN FIN. C 6.20%</title>
        <cusip>647551AG5</cusip>
        <identifiers>
          <isin value="US647551AG52"/>
          <ticker value="NMFC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200699.96</valUSD>
        <pctVal>0.0066631190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.200000000000</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>
        <name>FANNIE MAE-ACES 2.399%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES 2.399%</title>
        <cusip>3136BK6X5</cusip>
        <identifiers>
          <isin value="US3136BK6X56"/>
          <ticker value="FNMA"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>90607.38</valUSD>
        <pctVal>0.0030081110</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>31417GEJ1</cusip>
        <identifiers>
          <isin value="US31417GEJ13"/>
          <ticker value="FNMA"/>
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        <balance>32683.41</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28759.48</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179NBB3</cusip>
        <identifiers>
          <isin value="US36179NBB38"/>
          <ticker value="GNR"/>
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        <balance>89155.27</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83598.19</valUSD>
        <pctVal>0.0027754101</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 6.00%</title>
        <cusip>3133CV2L7</cusip>
        <identifiers>
          <isin value="US3133CV2L72"/>
          <ticker value="FHLMC"/>
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        <balance>799333.49</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>817810.62</valUSD>
        <pctVal>0.0271508251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; C 5.625%</name>
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        <name>HSBC HLDGS. PLC 5.25%</name>
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        <name>GINNIE MAE II POOL 4.00%</name>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>GOLDMAN SACHS GRP. 4.80%</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. 4.80%</title>
        <cusip>38141EC31</cusip>
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          <ticker value="GS"/>
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        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>313850.48</valUSD>
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        <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>AMERICAN INTL. GRP. 4.50%</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>AMERICAN INTL. GRP. 4.50%</title>
        <cusip>026874DA2</cusip>
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          <ticker value="AIG"/>
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        <curCd>USD</curCd>
        <valUSD>7846.22</valUSD>
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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>FREDDIE MAC GOLD PO 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 3.00%</title>
        <cusip>3128P8DM0</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>APPLE INC 4.25%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC 4.25%</title>
        <cusip>037833CH1</cusip>
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          <ticker value="AAPL"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <isin value="US3140XK6X37"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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          <couponKind>Fixed</couponKind>
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        <name>CHENIERE ENERGY PAR 5.95%</name>
        <lei>5493005UEC8AZ34LDV29</lei>
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          <ticker value="CQP"/>
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        <curCd>USD</curCd>
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        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <cusip>36179TEZ4</cusip>
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          <ticker value="GNR"/>
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        <name>GENERAL DYNAMICS C 2.625%</name>
        <lei>9C1X8XOOTYY2FNYTVH06</lei>
        <title>GENERAL DYNAMICS C 2.625%</title>
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          <ticker value="GD"/>
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        <name>L3HARRIS TECHS. INC 5.25%</name>
        <lei>549300UTE50ZMDBG8A20</lei>
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        <cusip>502431AT6</cusip>
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          <ticker value="LHX"/>
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        <curCd>USD</curCd>
        <valUSD>509219.74</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STATE STREET CORP F2F</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
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          <ticker value="STT"/>
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        <curCd>USD</curCd>
        <valUSD>1013730.12</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COMM 2018-COR3 MTG 4.228%</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.125%</title>
        <cusip>912810SC3</cusip>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>AMPHENOL CORP 5.00%</name>
        <lei>549300D3L3G0R4U4VT04</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31329NGY8</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>413930.31</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>MUNICIPAL ELEC. AU 6.637%</name>
        <lei>JA0WNILDDF2KUPS83B16</lei>
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        <cusip>626207YF5</cusip>
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          <ticker value="MELPWR"/>
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        <curCd>USD</curCd>
        <valUSD>66194.36</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>CITY OF SAN FRANCIS 6.95%</name>
        <lei>549300RA28ZEFOB6M782</lei>
        <title>CITY OF SAN FRANCIS 6.95%</title>
        <cusip>79765RTL3</cusip>
        <identifiers>
          <isin value="US79765RTL32"/>
          <ticker value="SFOWTR"/>
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        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82557.17</valUSD>
        <pctVal>0.0027408488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.950000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.50%</title>
        <cusip>912810RK6</cusip>
        <identifiers>
          <isin value="US912810RK60"/>
          <ticker value="T"/>
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        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2103984.36</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>NEW JERSEY TURNPIK 7.414%</name>
        <lei>5493005YN67D71KSMI84</lei>
        <title>NEW JERSEY TURNPIK 7.414%</title>
        <cusip>646139W35</cusip>
        <identifiers>
          <isin value="US646139W353"/>
          <ticker value="NJSTRN"/>
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        <balance>125000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145879.88</valUSD>
        <pctVal>0.0048431251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.414000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DOLLAR GENERAL CORP 5.50%</name>
        <lei>OPX52SQVOZI8IVSWYU66</lei>
        <title>DOLLAR GENERAL CORP 5.50%</title>
        <cusip>256677AM7</cusip>
        <identifiers>
          <isin value="US256677AM79"/>
          <ticker value="DG"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>191623.81</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3132CWYX6</cusip>
        <identifiers>
          <isin value="US3132CWYX63"/>
          <ticker value="FHLMC"/>
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        <balance>220196.82</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>214229.36</valUSD>
        <pctVal>0.0071122871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>DALLAS AREA RAPID 5.022%</name>
        <lei>75YWM81F2R6UQGJIEW47</lei>
        <title>DALLAS AREA RAPID 5.022%</title>
        <cusip>235241LW4</cusip>
        <identifiers>
          <isin value="US235241LW42"/>
          <ticker value="DALTRN"/>
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        <balance>180000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>166960.78</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.022000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.00%</title>
        <cusip>912810RJ9</cusip>
        <identifiers>
          <isin value="US912810RJ97"/>
          <ticker value="T"/>
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        <balance>2000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1529765.62</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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        <name>GINNIE MAE I POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 5.00%</title>
        <cusip>36292GPX7</cusip>
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          <isin value="US36292GPX78"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>40142.26</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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        <name>GINNIE MAE I POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 6.00%</title>
        <cusip>36296JDN2</cusip>
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          <isin value="US36296JDN28"/>
          <ticker value="GNR"/>
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        <balance>12199.45</balance>
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        <curCd>USD</curCd>
        <valUSD>12656.55</valUSD>
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        <issuerCat>USGA</issuerCat>
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        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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        <securityLending>
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        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
        <cusip>91282CGB1</cusip>
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          <isin value="US91282CGB19"/>
          <ticker value="T"/>
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        <balance>1900000</balance>
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        <curCd>USD</curCd>
        <valUSD>1881296.88</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>CITIGROUP INC F2F</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC F2F</title>
        <cusip>17327CAR4</cusip>
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          <isin value="US17327CAR43"/>
          <ticker value="C"/>
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        <balance>1400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1460904.33</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>3140NGTB6</cusip>
        <identifiers>
          <isin value="US3140NGTB63"/>
          <ticker value="FNMA"/>
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        <balance>1792017.7</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1770155.53</valUSD>
        <pctVal>0.0587681084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 6.00%</title>
        <cusip>3132DSFH0</cusip>
        <identifiers>
          <isin value="US3132DSFH04"/>
          <ticker value="FHLMC"/>
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        <balance>308229.17</balance>
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        <curCd>USD</curCd>
        <valUSD>317926.83</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ELEVANCE HEALTH INC 5.70%</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>ELEVANCE HEALTH INC 5.70%</title>
        <cusip>036752BE2</cusip>
        <identifiers>
          <isin value="US036752BE23"/>
          <ticker value="ELV"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>291580.49</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS PLC F2F</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC F2F</title>
        <cusip>06738ECG8</cusip>
        <identifiers>
          <isin value="US06738ECG89"/>
          <ticker value="BACR"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1052106.3</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-09</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MSWF COMMER. MTGE. 5.752%</name>
        <lei>N/A</lei>
        <title>MSWF COMMER. MTGE. 5.752%</title>
        <cusip>55376CAJ2</cusip>
        <identifiers>
          <isin value="US55376CAJ27"/>
          <ticker value="MSWF"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>260072.85</valUSD>
        <pctVal>0.0086342636</pctVal>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC HOLDINGS PLC F2F</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC F2F</title>
        <cusip>404280BT5</cusip>
        <identifiers>
          <isin value="US404280BT50"/>
          <ticker value="HSBC"/>
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        <balance>340000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>338996.45</valUSD>
        <pctVal>0.0112544801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.583000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>3132A3D80</cusip>
        <identifiers>
          <isin value="US3132A3D804"/>
          <ticker value="FHLMC"/>
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        <balance>83760.83</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82833.72</valUSD>
        <pctVal>0.0027500301</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL BANK 2.50%</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
        <title>INTERNATIONAL BANK 2.50%</title>
        <cusip>45906M3D1</cusip>
        <identifiers>
          <isin value="US45906M3D11"/>
          <ticker value="IBRD"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>909856.79</valUSD>
        <pctVal>0.0302067031</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
        <cusip>912810TT5</cusip>
        <identifiers>
          <isin value="US912810TT51"/>
          <ticker value="T"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5241093.72</valUSD>
        <pctVal>0.1740011873</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CISCO SYS. INC 5.90%</name>
        <lei>549300LKFJ962MZ46593</lei>
        <title>CISCO SYS. INC 5.90%</title>
        <cusip>17275RAD4</cusip>
        <identifiers>
          <isin value="US17275RAD44"/>
          <ticker value="CSCO"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>212156.88</valUSD>
        <pctVal>0.0070434819</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FLORIDA POWER &amp; LIG 5.96%</name>
        <lei>A89MY1K3YLIGJMYWVX50</lei>
        <title>FLORIDA POWER &amp; LIG 5.96%</title>
        <cusip>341081FB8</cusip>
        <identifiers>
          <isin value="US341081FB85"/>
          <ticker value="NEE"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>264031.82</valUSD>
        <pctVal>0.0087656990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.960000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL GRID PLC 5.602%</name>
        <lei>8R95QZMKZLJX5Q2XR704</lei>
        <title>NATIONAL GRID PLC 5.602%</title>
        <cusip>636274AD4</cusip>
        <identifiers>
          <isin value="US636274AD47"/>
          <ticker value="NGGLN"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>152673.93</valUSD>
        <pctVal>0.0050686835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.602000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARSH &amp; MCLENNAN CO 5.15%</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>MARSH &amp; MCLENNAN CO 5.15%</title>
        <cusip>571748BW1</cusip>
        <identifiers>
          <isin value="US571748BW16"/>
          <ticker value="MRSH"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>504208.08</valUSD>
        <pctVal>0.0167394077</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</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>INTEL CORP 5.00%</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>INTEL CORP 5.00%</title>
        <cusip>458140CN8</cusip>
        <identifiers>
          <isin value="US458140CN85"/>
          <ticker value="INTC"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>403064.25</valUSD>
        <pctVal>0.0133814928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>FANNIE MAE POOL 6.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.50%</title>
        <cusip>3140XNTM6</cusip>
        <identifiers>
          <isin value="US3140XNTM69"/>
          <ticker value="FNMA"/>
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        <balance>332456.86</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>345730.71</valUSD>
        <pctVal>0.0114780535</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</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>FREDDIE MAC POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>3132AA4L5</cusip>
        <identifiers>
          <isin value="US3132AA4L54"/>
          <ticker value="FHLMC"/>
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        <balance>312542.88</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>280742.23</valUSD>
        <pctVal>0.0093204747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179UV90</cusip>
        <identifiers>
          <isin value="US36179UV905"/>
          <ticker value="GNR"/>
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        <balance>382838.59</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>362452.61</valUSD>
        <pctVal>0.0120332106</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE I POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 6.00%</title>
        <cusip>36241KX37</cusip>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>KINDER MORGAN ENERG 7.50%</name>
        <lei>549300PDHUGWPWGOT525</lei>
        <title>KINDER MORGAN ENERG 7.50%</title>
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          <ticker value="KMI"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BOEING CO/THE 2.95%</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
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          <ticker value="BA"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <cusip>31329PTF0</cusip>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>GENERAL MOTORS CO 6.80%</name>
        <lei>54930070NSV60J38I987</lei>
        <title>GENERAL MOTORS CO 6.80%</title>
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        <identifiers>
          <isin value="US37045VAU44"/>
          <ticker value="GM"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>120839.99</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ENTERGY CORP 3.75%</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>ENTERGY CORP 3.75%</title>
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          <ticker value="ETR"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AMERICAN TOWER CORP 5.45%</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>AMERICAN TOWER CORP 5.45%</title>
        <cusip>03027XCH1</cusip>
        <identifiers>
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          <ticker value="AMT"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>304588.96</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.00%</title>
        <cusip>36180AAG8</cusip>
        <identifiers>
          <isin value="US36180AAG85"/>
          <ticker value="GNR"/>
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        <balance>1021760.33</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1046606.87</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SANTANDER DRIVE AUT 5.14%</name>
        <lei>N/A</lei>
        <title>SANTANDER DRIVE AUT 5.14%</title>
        <cusip>802920AG3</cusip>
        <identifiers>
          <isin value="US802920AG32"/>
          <ticker value="DRIVE"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25069.22</valUSD>
        <pctVal>0.0008322832</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-02-17</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 6.00%</title>
        <cusip>3132DWHH9</cusip>
        <identifiers>
          <isin value="US3132DWHH97"/>
          <ticker value="FHLMC"/>
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        <balance>469301.41</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>480734.2</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>3140XKP38</cusip>
        <identifiers>
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          <ticker value="FNMA"/>
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        <balance>493571.31</balance>
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        <curCd>USD</curCd>
        <valUSD>499691.56</valUSD>
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        <assetCat>ABS-MBS</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 7.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 7.50%</title>
        <cusip>3132DWKL6</cusip>
        <identifiers>
          <isin value="US3132DWKL62"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>79895.01</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BLUE OWL TECH. FIN. 6.75%</name>
        <lei>254900G5EZJSOD3UKL16</lei>
        <title>BLUE OWL TECH. FIN. 6.75%</title>
        <cusip>69121JAB3</cusip>
        <identifiers>
          <isin value="US69121JAB35"/>
          <ticker value="OTF"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>100476.9</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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      <invstOrSec>
        <name>STRYKER CORP 4.85%</name>
        <lei>5493002F0SC4JTBU5137</lei>
        <title>STRYKER CORP 4.85%</title>
        <cusip>863667BL4</cusip>
        <identifiers>
          <isin value="US863667BL41"/>
          <ticker value="SYK"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>251881.81</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <maturityDt>2030-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BRISTOL-MYERS SQUIB 5.55%</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>BRISTOL-MYERS SQUIB 5.55%</title>
        <cusip>110122EK0</cusip>
        <identifiers>
          <isin value="US110122EK02"/>
          <ticker value="BMY"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>683601.86</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-02-22</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>BRISTOL-MYERS SQUIB 5.65%</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>BRISTOL-MYERS SQUIB 5.65%</title>
        <cusip>110122EL8</cusip>
        <identifiers>
          <isin value="US110122EL84"/>
          <ticker value="BMY"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>196609.83</valUSD>
        <pctVal>0.0065273292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2064-02-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <loanByFundCondition isLoanByFund="Y" loanVal="100329.490000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>3140XNY73</cusip>
        <identifiers>
          <isin value="US3140XNY738"/>
          <ticker value="FNMA"/>
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        <balance>503962.05</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>518555.69</valUSD>
        <pctVal>0.0172157398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>SMITH &amp; NEPHEW PLC 5.40%</name>
        <lei>213800ZTMDN8S67S1H61</lei>
        <title>SMITH &amp; NEPHEW PLC 5.40%</title>
        <cusip>83192PAD0</cusip>
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          <isin value="US83192PAD06"/>
          <ticker value="SNLN"/>
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        <curCd>USD</curCd>
        <valUSD>251904.02</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>2034-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTERPOINT ENERGY 2.90%</name>
        <lei>549300S8SEQBOJLKHW63</lei>
        <title>CENTERPOINT ENERGY 2.90%</title>
        <cusip>15189XAU2</cusip>
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          <isin value="US15189XAU28"/>
          <ticker value="CNP"/>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
        <valUSD>256978.38</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>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC 3.50%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 3.50%</title>
        <cusip>00206RJZ6</cusip>
        <identifiers>
          <isin value="US00206RJZ64"/>
          <ticker value="T"/>
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        <balance>670000</balance>
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        <curCd>USD</curCd>
        <valUSD>515495.88</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>31418DRW4</cusip>
        <identifiers>
          <isin value="US31418DRW47"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3140QB4E5</cusip>
        <identifiers>
          <isin value="US3140QB4E50"/>
          <ticker value="FNMA"/>
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        <balance>302760.68</balance>
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        <curCd>USD</curCd>
        <valUSD>269397.15</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418CQC1</cusip>
        <identifiers>
          <isin value="US31418CQC19"/>
          <ticker value="FNMA"/>
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        <balance>106252.76</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103802.61</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES VAR</title>
        <cusip>3136B1XJ8</cusip>
        <identifiers>
          <isin value="US3136B1XJ86"/>
          <ticker value="FNMA"/>
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        <balance>60272.75</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59107.26</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.169000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>APPLIED MATERIALS I 1.75%</name>
        <lei>41BNNE1AFPNAZELZ6K07</lei>
        <title>APPLIED MATERIALS I 1.75%</title>
        <cusip>038222AN5</cusip>
        <identifiers>
          <isin value="US038222AN54"/>
          <ticker value="AMAT"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>450086.96</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.750000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VISA INC 2.00%</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>VISA INC 2.00%</title>
        <cusip>92826CAQ5</cusip>
        <identifiers>
          <isin value="US92826CAQ50"/>
          <ticker value="V"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>268128.93</valUSD>
        <pctVal>0.0089017206</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>CHARLES SCHWAB CORP/T F2F</name>
        <lei>549300VSGCJ7E698NM85</lei>
        <title>CHARLES SCHWAB CORP/T F2F</title>
        <cusip>808513CD5</cusip>
        <identifiers>
          <isin value="US808513CD58"/>
          <ticker value="SCHW"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>407571.76</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-19</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>CAPITAL ONE FINL. COR F2F</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINL. COR F2F</title>
        <cusip>14040HDA0</cusip>
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          <isin value="US14040HDA05"/>
          <ticker value="COF"/>
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        <curCd>USD</curCd>
        <valUSD>423259.5</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-08</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.25%</title>
        <cusip>91282CCH2</cusip>
        <identifiers>
          <isin value="US91282CCH25"/>
          <ticker value="T"/>
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        <balance>5120000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.75%</title>
        <cusip>91282CFF3</cusip>
        <identifiers>
          <isin value="US91282CFF32"/>
          <ticker value="T"/>
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        <balance>9000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8265585.96</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PEPSICO SINGAPORE F 4.55%</name>
        <lei>254900DOMTCMUFROFJ76</lei>
        <title>PEPSICO SINGAPORE F 4.55%</title>
        <cusip>713466AB6</cusip>
        <identifiers>
          <isin value="US713466AB69"/>
          <ticker value="PEP"/>
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        <balance>1800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1806263.48</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-16</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FORD CREDIT AUTO OW 5.01%</name>
        <lei>N/A</lei>
        <title>FORD CREDIT AUTO OW 5.01%</title>
        <cusip>34535EAE2</cusip>
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          <isin value="US34535EAE23"/>
          <ticker value="FORDO"/>
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        <curCd>USD</curCd>
        <valUSD>100727.66</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
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          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.010000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HOST HOTELS &amp; RESOR 3.50%</name>
        <lei>FXB7X4WXVA8QPMNOGS12</lei>
        <title>HOST HOTELS &amp; RESOR 3.50%</title>
        <cusip>44107TAZ9</cusip>
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          <isin value="US44107TAZ93"/>
          <ticker value="HST"/>
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        <balance>118000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>111596.65</valUSD>
        <pctVal>0.0037049423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179VTW0</cusip>
        <identifiers>
          <isin value="US36179VTW09"/>
          <ticker value="GNR"/>
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        <balance>620983.85</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>531041.59</valUSD>
        <pctVal>0.0176302642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>2.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>3140XJX81</cusip>
        <identifiers>
          <isin value="US3140XJX811"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>288707.57</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>T-MOBILE USA INC 5.15%</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 5.15%</title>
        <cusip>87264ADF9</cusip>
        <identifiers>
          <isin value="US87264ADF93"/>
          <ticker value="TMUS"/>
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        <curCd>USD</curCd>
        <valUSD>500924.48</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BLACKROCK FNDG. INC 4.70%</name>
        <lei>529900VBK42Y5HHRMD23</lei>
        <title>BLACKROCK FNDG. INC 4.70%</title>
        <cusip>09290DAA9</cusip>
        <identifiers>
          <isin value="US09290DAA90"/>
          <ticker value="BLK"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>504962.18</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ISRAEL GOV. INTL. 5.375%</name>
        <lei>213800T8ZHTFZIBYPE21</lei>
        <title>ISRAEL GOV. INTL. 5.375%</title>
        <cusip>46514BRN9</cusip>
        <identifiers>
          <isin value="US46514BRN90"/>
          <ticker value="ISRAEL"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1009801.6</valUSD>
        <pctVal>0.0335248112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.375000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>STATE STREET CORP F2F</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>STATE STREET CORP F2F</title>
        <cusip>857477CC5</cusip>
        <identifiers>
          <isin value="US857477CC50"/>
          <ticker value="STT"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>404227.39</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-05-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.159000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AON NORTH AMERICA I 5.75%</name>
        <lei>N/A</lei>
        <title>AON NORTH AMERICA I 5.75%</title>
        <cusip>03740MAF7</cusip>
        <identifiers>
          <isin value="US03740MAF77"/>
          <ticker value="AON"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>490533.99</valUSD>
        <pctVal>0.0162854361</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
        <cusip>91282CMT5</cusip>
        <identifiers>
          <isin value="US91282CMT52"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4967773.45</valUSD>
        <pctVal>0.1649271173</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.75%</title>
        <cusip>91282CMW8</cusip>
        <identifiers>
          <isin value="US91282CMW81"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4964453.1</valUSD>
        <pctVal>0.1648168836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WF CARD ISSUANCE TR 4.29%</name>
        <lei>N/A</lei>
        <title>WF CARD ISSUANCE TR 4.29%</title>
        <cusip>92970QAE5</cusip>
        <identifiers>
          <isin value="US92970QAE52"/>
          <ticker value="WFCIT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100060.19</valUSD>
        <pctVal>0.0033219387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.290000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BMO 2024-C10 MTGE. TR VAR</name>
        <lei>N/A</lei>
        <title>BMO 2024-C10 MTGE. TR VAR</title>
        <cusip>096920AD5</cusip>
        <identifiers>
          <isin value="US096920AD59"/>
          <ticker value="BMO"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>205011.02</valUSD>
        <pctVal>0.0068062437</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.477900000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.875%</title>
        <cusip>912810SW9</cusip>
        <identifiers>
          <isin value="US912810SW99"/>
          <ticker value="T"/>
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        <balance>6600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4579265.59</valUSD>
        <pctVal>0.1520288879</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.875000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.25%</title>
        <cusip>912810TH1</cusip>
        <identifiers>
          <isin value="US912810TH14"/>
          <ticker value="T"/>
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        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2881757.83</valUSD>
        <pctVal>0.0956726421</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>CH ROBINSON WORLDWI 4.20%</name>
        <lei>529900WNWN5L0OVDHA79</lei>
        <title>CH ROBINSON WORLDWI 4.20%</title>
        <cusip>12541WAA8</cusip>
        <identifiers>
          <isin value="US12541WAA80"/>
          <ticker value="CHRW"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99235.58</valUSD>
        <pctVal>0.0032945621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOSTON PROPS. LP 6.50%</name>
        <lei>BVHHEFJI6SHNOKQT2572</lei>
        <title>BOSTON PROPS. LP 6.50%</title>
        <cusip>10112RBH6</cusip>
        <identifiers>
          <isin value="US10112RBH66"/>
          <ticker value="BXP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>530585.44</valUSD>
        <pctVal>0.0176151203</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.50%</title>
        <cusip>91282CHA2</cusip>
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          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4941210.95</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INDEPENDENT BANK CORP F2F</name>
        <lei>549300C5K3W8THR3GE10</lei>
        <title>INDEPENDENT BANK CORP F2F</title>
        <cusip>453836AJ7</cusip>
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          <isin value="US453836AJ75"/>
          <ticker value="INDB"/>
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        <curCd>USD</curCd>
        <valUSD>52472.58</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.25%</title>
        <cusip>91282CKC4</cusip>
        <identifiers>
          <isin value="US91282CKC46"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5008398.45</valUSD>
        <pctVal>0.1662758430</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.625%</title>
        <cusip>91282CNV9</cusip>
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          <isin value="US91282CNV99"/>
          <ticker value="T"/>
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        <curCd>USD</curCd>
        <valUSD>7595831.25</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PHILLIPS 66 CO 4.90%</name>
        <lei>RVJMT2IZVVSKIRJJBH76</lei>
        <title>PHILLIPS 66 CO 4.90%</title>
        <cusip>718547AP7</cusip>
        <identifiers>
          <isin value="US718547AP73"/>
          <ticker value="PSX"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>174457.02</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TRAVELERS COS INC/T 5.45%</name>
        <lei>549300Y650407RU8B149</lei>
        <title>TRAVELERS COS INC/T 5.45%</title>
        <cusip>89417EAS8</cusip>
        <identifiers>
          <isin value="US89417EAS81"/>
          <ticker value="TRV"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>194099.49</valUSD>
        <pctVal>0.0064439874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-05-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HA SUSTBL. INFRA. 6.375%</name>
        <lei>254900ZZRL7MWL1X8E92</lei>
        <title>HA SUSTBL. INFRA. 6.375%</title>
        <cusip>41068XAF7</cusip>
        <identifiers>
          <isin value="US41068XAF78"/>
          <ticker value="HASI"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>101998.92</valUSD>
        <pctVal>0.0033863033</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC 4.70%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 4.70%</title>
        <cusip>00206RMX7</cusip>
        <identifiers>
          <isin value="US00206RMX79"/>
          <ticker value="T"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>400048.92</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC 5.40%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 5.40%</title>
        <cusip>00206RMT6</cusip>
        <identifiers>
          <isin value="US00206RMT67"/>
          <ticker value="T"/>
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        <balance>1700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1723358.6</valUSD>
        <pctVal>0.0572144782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CAPITAL ONE FINL. COR F2F</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINL. COR F2F</title>
        <cusip>14040HCZ6</cusip>
        <identifiers>
          <isin value="US14040HCZ64"/>
          <ticker value="COF"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>514142.9</valUSD>
        <pctVal>0.0170692378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.312000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PERUVIAN GOV. INTL. 5.50%</name>
        <lei>254900STKLK2DBJJZ530</lei>
        <title>PERUVIAN GOV. INTL. 5.50%</title>
        <cusip>715638FC1</cusip>
        <identifiers>
          <isin value="US715638FC12"/>
          <ticker value="PERU"/>
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        <balance>530000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>535114.5</valUSD>
        <pctVal>0.0177654824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>3618N5PG8</cusip>
        <identifiers>
          <isin value="US3618N5PG87"/>
          <ticker value="GNR"/>
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        <balance>1946046.2</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1870279.4</valUSD>
        <pctVal>0.0620921612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>91282CPY1</cusip>
        <identifiers>
          <isin value="US91282CPY11"/>
          <ticker value="T"/>
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        <balance>2500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2457324.23</valUSD>
        <pctVal>0.0815816996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.625%</title>
        <cusip>912810RE0</cusip>
        <identifiers>
          <isin value="US912810RE01"/>
          <ticker value="T"/>
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        <balance>2000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1694453.12</valUSD>
        <pctVal>0.0562548335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FORD MOTOR CREDIT C 5.73%</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>FORD MOTOR CREDIT C 5.73%</title>
        <cusip>345397H48</cusip>
        <identifiers>
          <isin value="US345397H485"/>
          <ticker value="F"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201095.81</valUSD>
        <pctVal>0.0066762610</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.730000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
        <cusip>91282CNZ0</cusip>
        <identifiers>
          <isin value="US91282CNZ04"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4889257.8</valUSD>
        <pctVal>0.1623204445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TPG OPERATING GRP. 5.875%</name>
        <lei>2549001H9RJQNZT7MU11</lei>
        <title>TPG OPERATING GRP. 5.875%</title>
        <cusip>872652AA0</cusip>
        <identifiers>
          <isin value="US872652AA01"/>
          <ticker value="TPG"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50742.05</valUSD>
        <pctVal>0.0016846058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-03-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BARCLAYS PLC F2F</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC F2F</title>
        <cusip>06738ECR4</cusip>
        <identifiers>
          <isin value="US06738ECR45"/>
          <ticker value="BACR"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510389.29</valUSD>
        <pctVal>0.0169446202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.690000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GRP. 6.25%</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. 6.25%</title>
        <cusip>38141GGM0</cusip>
        <identifiers>
          <isin value="US38141GGM06"/>
          <ticker value="GS"/>
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        <balance>192000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204438.38</valUSD>
        <pctVal>0.0067872324</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ARIZONA PUBLIC SERV 4.50%</name>
        <lei>YG6VT0TPHRH4TFVAQV64</lei>
        <title>ARIZONA PUBLIC SERV 4.50%</title>
        <cusip>040555CN2</cusip>
        <identifiers>
          <isin value="US040555CN22"/>
          <ticker value="PNW"/>
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        <balance>230000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200397.12</valUSD>
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        <name>REPUBLIC OF POLAND 5.125%</name>
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      <invstOrSec>
        <name>DUKE ENERGY OHIO IN 5.55%</name>
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        <name>FANNIE MAE POOL 4.00%</name>
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        <name>FREDDIE MAC POOL 2.00%</name>
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        <name>FANNIE MAE POOL 4.00%</name>
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        <name>UNITED STATES TSY. 3.625%</name>
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        <name>INTERNATIONAL BANK 4.70%</name>
        <lei>ZTMSNXROF84AHWJNKQ93</lei>
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        <issuerCat>NUSS</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>BLUE OWL FIN. LLC 4.125%</name>
        <lei>254900OF2NO2GYFV5T41</lei>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <name>NATIONAL FUEL GAS C 5.95%</name>
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        <name>AMERICAN EXPRESS CR 4.28%</name>
        <lei>549300Y4SA5G3GIJTP18</lei>
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          <ticker value="AMXCA"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
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        <name>ORACLE CORP 4.45%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
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        <curCd>USD</curCd>
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        <name>ALPHABET INC 5.35%</name>
        <lei>5493006MHB84DD0ZWV18</lei>
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        <name>GINNIE MAE II POOL 6.00%</name>
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          <ticker value="GNR"/>
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        <balance>833340.32</balance>
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        <curCd>USD</curCd>
        <valUSD>857797.28</valUSD>
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        <issuerCat>USGA</issuerCat>
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        <name>OESTERREICHISCHE KO 4.25%</name>
        <lei>5299000OVRLMF858L016</lei>
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          <ticker value="OKB"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>500266.26</valUSD>
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        <invCountry>AT</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>SIXTH STREET SPECI 6.125%</name>
        <lei>549300TX61566GJWCN05</lei>
        <title>SIXTH STREET SPECI 6.125%</title>
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          <ticker value="TSLX"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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          <isLoanByFund>N</isLoanByFund>
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        <name>UNITED STATES TSY. 4.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>GINNIE MAE II POOL 5.00%</name>
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        <name>FANNIE MAE POOL 4.50%</name>
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        <name>STATE PUBLIC SCHOOL 5.00%</name>
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        <name>CHARLES SCHWAB CORP/T F2F</name>
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        <name>GINNIE MAE II POOL 5.00%</name>
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        <name>FREDDIE MAC GOLD PO 3.00%</name>
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        <name>GINNIE MAE II POOL 3.50%</name>
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        <name>GINNIE MAE II POOL 5.50%</name>
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        <name>SAFEHOLD GL HLDGS. 6.10%</name>
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        <name>FANNIE MAE POOL 3.00%</name>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIF 3.298%</name>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>LAZARD GRP. LLC 6.00%</name>
        <lei>FI94J2CJ1D7BIGVMS874</lei>
        <title>LAZARD GRP. LLC 6.00%</title>
        <cusip>52107QAL9</cusip>
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          <ticker value="LAZ"/>
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        <curCd>USD</curCd>
        <valUSD>129611.52</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 6.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.50%</title>
        <cusip>36180AAH6</cusip>
        <identifiers>
          <isin value="US36180AAH68"/>
          <ticker value="GNR"/>
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        <balance>426456.49</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>441933.53</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 6.00%</title>
        <cusip>3128M4T60</cusip>
        <identifiers>
          <isin value="US3128M4T602"/>
          <ticker value="FHLMC"/>
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        <balance>5828.11</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6121.34</valUSD>
        <pctVal>0.0002032248</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31414PZR3</cusip>
        <identifiers>
          <isin value="US31414PZR36"/>
          <ticker value="FNMA"/>
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        <balance>33611.82</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34002.59</valUSD>
        <pctVal>0.0011288657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>31418AHQ4</cusip>
        <identifiers>
          <isin value="US31418AHQ40"/>
          <ticker value="FNMA"/>
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        <balance>67673.34</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>66003.78</valUSD>
        <pctVal>0.0021912862</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>MORGAN STANLEY 6.375%</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY 6.375%</title>
        <cusip>617482V92</cusip>
        <identifiers>
          <isin value="US617482V925"/>
          <ticker value="MS"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>326263.3</valUSD>
        <pctVal>0.0108317471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-07-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 6.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 6.50%</title>
        <cusip>36295PMH2</cusip>
        <identifiers>
          <isin value="US36295PMH28"/>
          <ticker value="GNR"/>
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        <balance>1336.05</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1419.91</valUSD>
        <pctVal>0.0000471402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 4.50%</title>
        <cusip>3620AFPN1</cusip>
        <identifiers>
          <isin value="US3620AFPN19"/>
          <ticker value="GNR"/>
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        <balance>109111.76</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>107805.34</valUSD>
        <pctVal>0.0035790730</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NOVARTIS CAP. CORP 4.10%</name>
        <lei>5493002KF87V5RSRQS84</lei>
        <title>NOVARTIS CAP. CORP 4.10%</title>
        <cusip>66989HAY4</cusip>
        <identifiers>
          <isin value="US66989HAY45"/>
          <ticker value="NOVNVX"/>
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        <balance>1010000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>992280.22</valUSD>
        <pctVal>0.0329431118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BLACKSTONE REG FIN. 4.95%</name>
        <lei>254900S2G1V55FTA4590</lei>
        <title>BLACKSTONE REG FIN. 4.95%</title>
        <cusip>092914AC4</cusip>
        <identifiers>
          <isin value="US092914AC40"/>
          <ticker value="BX"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>97056.18</valUSD>
        <pctVal>0.0032222073</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITY OF NEW YORK N 5.392%</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>CITY OF NEW YORK N 5.392%</title>
        <cusip>64966SSG2</cusip>
        <identifiers>
          <isin value="US64966SSG20"/>
          <ticker value="NYC"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>384855.08</valUSD>
        <pctVal>0.0127769592</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.392000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
        <cusip>91282CQG9</cusip>
        <identifiers>
          <isin value="US91282CQG95"/>
          <ticker value="T"/>
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        <balance>7000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6900468.75</valUSD>
        <pctVal>0.2290914491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179MNH9</cusip>
        <identifiers>
          <isin value="US36179MNH96"/>
          <ticker value="GNR"/>
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        <balance>127421.52</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>119611.5</valUSD>
        <pctVal>0.0039710305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENERGY TRANSFER LP 5.15%</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>ENERGY TRANSFER LP 5.15%</title>
        <cusip>29273RAT6</cusip>
        <identifiers>
          <isin value="US29273RAT68"/>
          <ticker value="ET"/>
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        <balance>309000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>279192.56</valUSD>
        <pctVal>0.0092690266</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE I POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 5.00%</title>
        <cusip>3620A5B73</cusip>
        <identifiers>
          <isin value="US3620A5B737"/>
          <ticker value="GNR"/>
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        <balance>45841.07</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>46211.2</valUSD>
        <pctVal>0.0015341843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31419GBE3</cusip>
        <identifiers>
          <isin value="US31419GBE35"/>
          <ticker value="FNMA"/>
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        <balance>62618.61</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>61925.23</valUSD>
        <pctVal>0.0020558807</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LYB INTERNATIONAL F 5.25%</name>
        <lei>549300J6QSW38QNOJK61</lei>
        <title>LYB INTERNATIONAL F 5.25%</title>
        <cusip>50247VAB5</cusip>
        <identifiers>
          <isin value="US50247VAB53"/>
          <ticker value="LYB"/>
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        <balance>565000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>497846.64</valUSD>
        <pctVal>0.0165282117</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BURLINGTON NORTHERN 5.15%</name>
        <lei>N/A</lei>
        <title>BURLINGTON NORTHERN 5.15%</title>
        <cusip>12189LAP6</cusip>
        <identifiers>
          <isin value="US12189LAP67"/>
          <ticker value="BNSF"/>
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        <balance>280000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>269014.76</valUSD>
        <pctVal>0.0089311297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHASE ISSUANCE TRUS 4.16%</name>
        <lei>5493008SHVCX2Y068L12</lei>
        <title>CHASE ISSUANCE TRUS 4.16%</title>
        <cusip>161571HZ0</cusip>
        <identifiers>
          <isin value="US161571HZ01"/>
          <ticker value="CHAIT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99609.53</valUSD>
        <pctVal>0.0033069770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.160000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN EXPRESS CR 4.51%</name>
        <lei>549300Y4SA5G3GIJTP18</lei>
        <title>AMERICAN EXPRESS CR 4.51%</title>
        <cusip>02582JKT6</cusip>
        <identifiers>
          <isin value="US02582JKT69"/>
          <ticker value="AMXCA"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100269.06</valUSD>
        <pctVal>0.0033288730</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.510000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BROWN-FORMAN CORP 4.50%</name>
        <lei>549300873K3LXF7ARU34</lei>
        <title>BROWN-FORMAN CORP 4.50%</title>
        <cusip>115637AP5</cusip>
        <identifiers>
          <isin value="US115637AP57"/>
          <ticker value="BFB"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>171230.27</valUSD>
        <pctVal>0.0056847429</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CVS HEALTH CORP 5.125%</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 5.125%</title>
        <cusip>126650CN8</cusip>
        <identifiers>
          <isin value="US126650CN80"/>
          <ticker value="CVS"/>
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        <balance>1286000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1164713.24</valUSD>
        <pctVal>0.0386677853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE PRIME A 3.85%</name>
        <lei>N/A</lei>
        <title>CAPITAL ONE PRIME A 3.85%</title>
        <cusip>14043YAD7</cusip>
        <identifiers>
          <isin value="US14043YAD76"/>
          <ticker value="COPAR"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99096.55</valUSD>
        <pctVal>0.0032899464</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.75%</title>
        <cusip>912810UR7</cusip>
        <identifiers>
          <isin value="US912810UR76"/>
          <ticker value="T"/>
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        <balance>8200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7965531.25</valUSD>
        <pctVal>0.2644508893</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COOPERATIEVE RABOBA 5.75%</name>
        <lei>DG3RU1DBUFHT4ZF9WN62</lei>
        <title>COOPERATIEVE RABOBA 5.75%</title>
        <cusip>21684AAB2</cusip>
        <identifiers>
          <isin value="US21684AAB26"/>
          <ticker value="RABOBK"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>247560.7</valUSD>
        <pctVal>0.0082188677</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY BAN 5.633%</name>
        <lei>N/A</lei>
        <title>MORGAN STANLEY BAN 5.633%</title>
        <cusip>61779CAH7</cusip>
        <identifiers>
          <isin value="US61779CAH79"/>
          <ticker value="MSBAM"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>518987.9</valUSD>
        <pctVal>0.0172300889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.633000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TOYOTA MOTOR CREDIT 4.05%</name>
        <lei>Z2VZBHUMB7PWWJ63I008</lei>
        <title>TOYOTA MOTOR CREDIT 4.05%</title>
        <cusip>89236TPQ2</cusip>
        <identifiers>
          <isin value="US89236TPQ21"/>
          <ticker value="TOYOTA"/>
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        <balance>410000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>405309.04</valUSD>
        <pctVal>0.0134560185</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>3618N6DB0</cusip>
        <identifiers>
          <isin value="US3618N6DB02"/>
          <ticker value="GNR"/>
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        <balance>2673410.8</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2688852.88</valUSD>
        <pctVal>0.0892683128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>3138ENLQ0</cusip>
        <identifiers>
          <isin value="US3138ENLQ03"/>
          <ticker value="FNMA"/>
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        <balance>85009.28</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>83932.34</valUSD>
        <pctVal>0.0027865037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179TAJ4</cusip>
        <identifiers>
          <isin value="US36179TAJ43"/>
          <ticker value="GNR"/>
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        <balance>455082.78</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>405036.91</valUSD>
        <pctVal>0.0134469840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WF CARD ISSUANCE TR 4.08%</name>
        <lei>N/A</lei>
        <title>WF CARD ISSUANCE TR 4.08%</title>
        <cusip>92970QAK1</cusip>
        <identifiers>
          <isin value="US92970QAK13"/>
          <ticker value="WFCIT"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>148869.03</valUSD>
        <pctVal>0.0049423631</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.080000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418FV79</cusip>
        <identifiers>
          <isin value="US31418FV796"/>
          <ticker value="FNMA"/>
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        <balance>776645.77</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>767733.86</valUSD>
        <pctVal>0.0254883065</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CONSOLIDATED EDISON 4.45%</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>CONSOLIDATED EDISON 4.45%</title>
        <cusip>209111FD0</cusip>
        <identifiers>
          <isin value="US209111FD03"/>
          <ticker value="ED"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>86387.58</valUSD>
        <pctVal>0.0028680162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AHS HOSPITAL CORP 5.024%</name>
        <lei>549300D7W3C9Z4RGJG34</lei>
        <title>AHS HOSPITAL CORP 5.024%</title>
        <cusip>001306AB5</cusip>
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      <invstOrSec>
        <name>CHURCH &amp; DWIGHT CO 3.95%</name>
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      <invstOrSec>
        <name>APPLE INC 3.75%</name>
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        <name>NATWEST GROUP PLC F2F</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FANNIE MAE POOL 5.00%</name>
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        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>UNITED STATES TSY. 4.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.375%</title>
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          <ticker value="T"/>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>AMERICAN EXPRESS CR 4.30%</name>
        <lei>549300Y4SA5G3GIJTP18</lei>
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          <ticker value="AMXCA"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>WISCONSIN PUBLIC S 4.752%</name>
        <lei>549300BJRHJVYNUMQZ30</lei>
        <title>WISCONSIN PUBLIC S 4.752%</title>
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        <identifiers>
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          <ticker value="WEC"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <ticker value="FNMA"/>
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        <name>MARATHON PETROLEUM 3.80%</name>
        <lei>3BNYRYQHD39K4LCKQF12</lei>
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        <curCd>USD</curCd>
        <valUSD>37491.75</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <ticker value="FHLB"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>COMMONSPIRIT HEALT 3.817%</name>
        <lei>N/A</lei>
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          <ticker value="CATMED"/>
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      <invstOrSec>
        <name>CD 2019-CD8 MTGE. 2.912%</name>
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        <title>CD 2019-CD8 MTGE. 2.912%</title>
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        <name>EVERSOURCE ENERGY 3.45%</name>
        <lei>SJ7XXD41SQU3ZNWUJ746</lei>
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          <ticker value="ES"/>
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      <invstOrSec>
        <name>CANADIAN NATL. RAI 6.375%</name>
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        <name>FREDDIE MAC GOLD PO 5.00%</name>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GJA8</cusip>
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          <isin value="US06051GJA85"/>
          <ticker value="BAC"/>
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        <curCd>USD</curCd>
        <valUSD>641419.39</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>EXXON MOBIL CORP 4.327%</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>EXXON MOBIL CORP 4.327%</title>
        <cusip>30231GBG6</cusip>
        <identifiers>
          <isin value="US30231GBG64"/>
          <ticker value="XOM"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>417000.47</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.327000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>METROPOLITAN GOV. 6.731%</name>
        <lei>N/A</lei>
        <title>METROPOLITAN GOV. 6.731%</title>
        <cusip>592125AM0</cusip>
        <identifiers>
          <isin value="US592125AM00"/>
          <ticker value="METFAC"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>105545.57</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.731000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE I POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 3.50%</title>
        <cusip>36178C7C1</cusip>
        <identifiers>
          <isin value="US36178C7C16"/>
          <ticker value="GNR"/>
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        <balance>11714.27</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10914.56</valUSD>
        <pctVal>0.0003623569</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179RTA7</cusip>
        <identifiers>
          <isin value="US36179RTA76"/>
          <ticker value="GNR"/>
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        <balance>451537.75</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>432818.86</valUSD>
        <pctVal>0.0143693281</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>31418B6G6</cusip>
        <identifiers>
          <isin value="US31418B6G69"/>
          <ticker value="FNMA"/>
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        <balance>469227.54</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>420913.39</valUSD>
        <pctVal>0.0139740736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES VAR</title>
        <cusip>3136B26W7</cusip>
        <identifiers>
          <isin value="US3136B26W77"/>
          <ticker value="FNMA"/>
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        <balance>98635.29</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95946.47</valUSD>
        <pctVal>0.0031853656</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.776000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
        <cusip>36179UGC0</cusip>
        <identifiers>
          <isin value="US36179UGC09"/>
          <ticker value="GNR"/>
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        <balance>63047.38</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>59773.03</valUSD>
        <pctVal>0.0019844290</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3140HBJE9</cusip>
        <identifiers>
          <isin value="US3140HBJE99"/>
          <ticker value="FNMA"/>
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        <balance>169351.82</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>160572.16</valUSD>
        <pctVal>0.0053309000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31412ESL1</cusip>
        <identifiers>
          <isin value="US31412ESL10"/>
          <ticker value="FNMA"/>
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        <balance>6538.55</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6560.79</valUSD>
        <pctVal>0.0002178143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ESSEX PORTFOLIO LP 4.00%</name>
        <lei>5493003GN3O58H286O74</lei>
        <title>ESSEX PORTFOLIO LP 4.00%</title>
        <cusip>29717PAT4</cusip>
        <identifiers>
          <isin value="US29717PAT49"/>
          <ticker value="ESS"/>
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        <balance>146000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>143599.42</valUSD>
        <pctVal>0.0047674151</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES VAR</title>
        <cusip>3136B3J50</cusip>
        <identifiers>
          <isin value="US3136B3J509"/>
          <ticker value="FNMA"/>
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        <balance>259084.82</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>254582.99</valUSD>
        <pctVal>0.0084520035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.748000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 2.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.50%</title>
        <cusip>36179VMC1</cusip>
        <identifiers>
          <isin value="US36179VMC18"/>
          <ticker value="GNR"/>
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        <balance>266408.09</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>228370.44</valUSD>
        <pctVal>0.0075817625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VULCAN MATERIALS CO 3.50%</name>
        <lei>549300Q8LSNHAVWBNI21</lei>
        <title>VULCAN MATERIALS CO 3.50%</title>
        <cusip>929160AZ2</cusip>
        <identifiers>
          <isin value="US929160AZ21"/>
          <ticker value="VMC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>191337.06</valUSD>
        <pctVal>0.0063522763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.00%</title>
        <cusip>912810SL3</cusip>
        <identifiers>
          <isin value="US912810SL35"/>
          <ticker value="T"/>
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        <balance>6400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3729249.98</valUSD>
        <pctVal>0.1238088763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>31418DQF2</cusip>
        <identifiers>
          <isin value="US31418DQF23"/>
          <ticker value="FNMA"/>
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        <balance>535821.3</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502626.56</valUSD>
        <pctVal>0.0166869022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMAZON.COM INC 2.50%</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON.COM INC 2.50%</title>
        <cusip>023135BT2</cusip>
        <identifiers>
          <isin value="US023135BT22"/>
          <ticker value="AMZN"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>115663.4</valUSD>
        <pctVal>0.0038399559</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-03</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
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        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140X7EV7</cusip>
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      <invstOrSec>
        <name>ESSEX PFLIO. LP 1.65%</name>
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          <ticker value="ESS"/>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>MPLX LP 2.65%</name>
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        <curCd>USD</curCd>
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        <name>FREDDIE MAC POOL 4.50%</name>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3131Y7U70</cusip>
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      <invstOrSec>
        <name>MORGAN STANLEY PRIVAT F2F</name>
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          <ticker value="MS"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MYLAN INC 5.40%</name>
        <lei>30ZMPDNA1RHIBH89C294</lei>
        <title>MYLAN INC 5.40%</title>
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          <ticker value="VTRS"/>
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        <units>PA</units>
        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3132CWLK8</cusip>
        <identifiers>
          <isin value="US3132CWLK89"/>
          <ticker value="FHLMC"/>
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        <balance>247589.56</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>226253.33</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140QD7C2</cusip>
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          <isin value="US3140QD7C22"/>
          <ticker value="FNMA"/>
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        <balance>345189.63</balance>
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        <curCd>USD</curCd>
        <valUSD>305052.8</valUSD>
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      <invstOrSec>
        <name>HELMERICH &amp; PAYNE I 5.50%</name>
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          <ticker value="HP"/>
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        <curCd>USD</curCd>
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        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3140KEGE2</cusip>
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          <isin value="US3140KEGE29"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>417250.08</valUSD>
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        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <curCd>USD</curCd>
        <valUSD>5336.06</valUSD>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <isin value="US3132D55F58"/>
          <ticker value="FHLMC"/>
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        <name>STANLEY BLACK &amp; DEC 2.75%</name>
        <lei>549300DJ09SMTO561131</lei>
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        <cusip>854502AN1</cusip>
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          <isin value="US854502AN14"/>
          <ticker value="SWK"/>
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        <curCd>USD</curCd>
        <valUSD>177435.01</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES VAR</title>
        <cusip>3136BDUC0</cusip>
        <identifiers>
          <isin value="US3136BDUC05"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>873869.33</valUSD>
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        <debtSec>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.625%</title>
        <cusip>912810TR9</cusip>
        <identifiers>
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          <ticker value="T"/>
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        <balance>6000000</balance>
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        <name>FANNIE MAE POOL 5.00%</name>
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        <name>FREDDIE MAC POOL 2.00%</name>
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        <valUSD>896862.16</valUSD>
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        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <ticker value="FNMA"/>
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        <name>GINNIE MAE I POOL 6.00%</name>
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          <ticker value="AXP"/>
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        <name>FANNIE MAE POOL FRN</name>
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        <name>FREDDIE MAC POOL 3.00%</name>
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        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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        <name>PACIFIC GAS AND ELE 4.50%</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
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          <ticker value="PCG"/>
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        <name>UNITED STATES TSY. 4.125%</name>
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        <name>UNITED STATES TSY. 4.625%</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC MULTIF 1.406%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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          <isin value="US3137FX3Q92"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>88692.9</valUSD>
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        <name>UNITED STATES TSY. 2.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912810SZ21"/>
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        <curCd>USD</curCd>
        <valUSD>3985078.16</valUSD>
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        <issuerCat>UST</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>UNITED STATES TSY. 4.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <curCd>USD</curCd>
        <valUSD>7045117.17</valUSD>
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      <invstOrSec>
        <name>AT&amp;T INC 6.05%</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 6.05%</title>
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        <curCd>USD</curCd>
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        <name>CANADIAN IMPERIAL BAN F2F</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
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        <name>AMERICAN HONDA FIN. 4.50%</name>
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          <ticker value="HNDA"/>
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      <invstOrSec>
        <name>MITSUBISHI UFJ FINL. F2V</name>
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        <name>GINNIE MAE I POOL 4.50%</name>
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        <name>GINNIE MAE I POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 3.50%</title>
        <cusip>36176XE62</cusip>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>THERMO FISHER SCIE 4.894%</name>
        <lei>HCHV7422L5HDJZCRFL38</lei>
        <title>THERMO FISHER SCIE 4.894%</title>
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          <isin value="US883556DF64"/>
          <ticker value="TMO"/>
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        <curCd>USD</curCd>
        <valUSD>845511.39</valUSD>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PACIFIC GAS AND ELE 5.05%</name>
        <lei>1HNPXZSMMB7HMBMVBS46</lei>
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        <cusip>694308KY2</cusip>
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          <ticker value="PCG"/>
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        <curCd>USD</curCd>
        <valUSD>248470.64</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 2.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.875%</title>
        <cusip>912810RB6</cusip>
        <identifiers>
          <isin value="US912810RB61"/>
          <ticker value="T"/>
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        <balance>2500000</balance>
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        <curCd>USD</curCd>
        <valUSD>1918750</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.00%</title>
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        <identifiers>
          <isin value="US36179R4F38"/>
          <ticker value="GNR"/>
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        <curCd>USD</curCd>
        <valUSD>99308.25</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>KENVUE INC 5.10%</name>
        <lei>5493008HSF8L4M2LIJ82</lei>
        <title>KENVUE INC 5.10%</title>
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        <identifiers>
          <isin value="US49177JAM45"/>
          <ticker value="KVUE"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>190800.36</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-22</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.50%</title>
        <cusip>3132E0NF5</cusip>
        <identifiers>
          <isin value="US3132E0NF52"/>
          <ticker value="FHLMC"/>
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        <balance>752756.25</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>768735.6</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORD CREDIT AUTO OW 3.95%</name>
        <lei>N/A</lei>
        <title>FORD CREDIT AUTO OW 3.95%</title>
        <cusip>34532BAD3</cusip>
        <identifiers>
          <isin value="US34532BAD38"/>
          <ticker value="FORDO"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98377.74</valUSD>
        <pctVal>0.0032660823</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.950000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LOWE S COS INC 4.50%</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>LOWE S COS INC 4.50%</title>
        <cusip>548661EW3</cusip>
        <identifiers>
          <isin value="US548661EW30"/>
          <ticker value="LOW"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>293647.14</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GMA4</cusip>
        <identifiers>
          <isin value="US06051GMA49"/>
          <ticker value="BAC"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>611743.84</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.468000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERICAN ELEC. POWER F2V</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>AMERICAN ELEC. POWER F2V</title>
        <cusip>025537AZ4</cusip>
        <identifiers>
          <isin value="US025537AZ40"/>
          <ticker value="AEP"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1039874</valUSD>
        <pctVal>0.0345231969</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VOYA FINANCIAL INC 4.80%</name>
        <lei>549300T065Z4KJ686G75</lei>
        <title>VOYA FINANCIAL INC 4.80%</title>
        <cusip>929089AC4</cusip>
        <identifiers>
          <isin value="US929089AC42"/>
          <ticker value="VOYA"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>88052.74</valUSD>
        <pctVal>0.0029232985</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APPLE INC 3.85%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC 3.85%</title>
        <cusip>037833CD0</cusip>
        <identifiers>
          <isin value="US037833CD08"/>
          <ticker value="AAPL"/>
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        <balance>20000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15822.68</valUSD>
        <pctVal>0.0005253035</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-08-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALLSTATE CORP/THE 4.20%</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>ALLSTATE CORP/THE 4.20%</title>
        <cusip>020002BC4</cusip>
        <identifiers>
          <isin value="US020002BC43"/>
          <ticker value="ALL"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>80972.75</valUSD>
        <pctVal>0.0026882470</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK 2018-BNK14 VAR</name>
        <lei>N/A</lei>
        <title>BANK 2018-BNK14 VAR</title>
        <cusip>06035RAS5</cusip>
        <identifiers>
          <isin value="US06035RAS58"/>
          <ticker value="BANK"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197364.58</valUSD>
        <pctVal>0.0065523864</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2060-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.231000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DUKE ENERGY CAROLIN 5.07%</name>
        <lei>N/A</lei>
        <title>DUKE ENERGY CAROLIN 5.07%</title>
        <cusip>26443UAB9</cusip>
        <identifiers>
          <isin value="US26443UAB98"/>
          <ticker value="DUK"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>48286.23</valUSD>
        <pctVal>0.0016030741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.070000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTERPOINT ENERGY IN F2V</name>
        <lei>21TPXMRRHFKOBHDC8J74</lei>
        <title>CENTERPOINT ENERGY IN F2V</title>
        <cusip>15189TBS5</cusip>
        <identifiers>
          <isin value="US15189TBS50"/>
          <ticker value="CNP"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499766</valUSD>
        <pctVal>0.0165919333</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="101457.220000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>ORACLE CORP 5.875%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 5.875%</title>
        <cusip>68389XDP7</cusip>
        <identifiers>
          <isin value="US68389XDP78"/>
          <ticker value="ORCL"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>437686.33</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-09-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ORACLE CORP 5.95%</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP 5.95%</title>
        <cusip>68389XDR3</cusip>
        <identifiers>
          <isin value="US68389XDR35"/>
          <ticker value="ORCL"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>254945.45</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REALTY INC. CORP 3.95%</name>
        <lei>549300CUWDAUZSH43859</lei>
        <title>REALTY INC. CORP 3.95%</title>
        <cusip>756109CW2</cusip>
        <identifiers>
          <isin value="US756109CW23"/>
          <ticker value="O"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>985110.41</valUSD>
        <pctVal>0.0327050784</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
        <cusip>3133KY6K0</cusip>
        <identifiers>
          <isin value="US3133KY6K01"/>
          <ticker value="FHLMC"/>
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        <balance>379228.52</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>376180.59</valUSD>
        <pctVal>0.0124889713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PG&amp;E REC. FNDG. LL 4.838%</name>
        <lei>N/A</lei>
        <title>PG&amp;E REC. FNDG. LL 4.838%</title>
        <cusip>71710TAG3</cusip>
        <identifiers>
          <isin value="US71710TAG31"/>
          <ticker value="PCG"/>
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        <balance>81586.9</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>81775.16</valUSD>
        <pctVal>0.0027148866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.838000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>3140QUYT7</cusip>
        <identifiers>
          <isin value="US3140QUYT73"/>
          <ticker value="FNMA"/>
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        <balance>741522.99</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>765647.83</valUSD>
        <pctVal>0.0254190516</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WILLIAMS COS INC/TH 5.15%</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>WILLIAMS COS INC/TH 5.15%</title>
        <cusip>969457CV0</cusip>
        <identifiers>
          <isin value="US969457CV05"/>
          <ticker value="WMB"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>393145.32</valUSD>
        <pctVal>0.0130521903</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTEL CORP 5.30%</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>INTEL CORP 5.30%</title>
        <cusip>458140CS7</cusip>
        <identifiers>
          <isin value="US458140CS72"/>
          <ticker value="INTC"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>596998.41</valUSD>
        <pctVal>0.0198199913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DRIVE AUTO RECEIVAB 4.67%</name>
        <lei>N/A</lei>
        <title>DRIVE AUTO RECEIVAB 4.67%</title>
        <cusip>26207AAF0</cusip>
        <identifiers>
          <isin value="US26207AAF03"/>
          <ticker value="DRIVE"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25041.4</valUSD>
        <pctVal>0.0008313596</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.670000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SIMON PROP. GRP. LP 4.75%</name>
        <lei>MR92GTD0MJTTTTQDVG45</lei>
        <title>SIMON PROP. GRP. LP 4.75%</title>
        <cusip>828807DY0</cusip>
        <identifiers>
          <isin value="US828807DY06"/>
          <ticker value="SPG"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>293016.03</valUSD>
        <pctVal>0.0097279575</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROLOGIS LP 4.25%</name>
        <lei>GL16H1DHB0QSHP25F723</lei>
        <title>PROLOGIS LP 4.25%</title>
        <cusip>74340XCU3</cusip>
        <identifiers>
          <isin value="US74340XCU37"/>
          <ticker value="PLD"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>490780.58</valUSD>
        <pctVal>0.0162936227</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>3140Y7Z84</cusip>
        <identifiers>
          <isin value="US3140Y7Z842"/>
          <ticker value="FNMA"/>
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        <balance>294526.11</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>282292.87</valUSD>
        <pctVal>0.0093719550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. IN F2F</title>
        <cusip>38141GC44</cusip>
        <identifiers>
          <isin value="US38141GC449"/>
          <ticker value="GS"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>406232.88</valUSD>
        <pctVal>0.0134866895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.536000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PEPSICO INC 5.00%</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PEPSICO INC 5.00%</title>
        <cusip>713448GC6</cusip>
        <identifiers>
          <isin value="US713448GC65"/>
          <ticker value="PEP"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>301445.05</valUSD>
        <pctVal>0.0100077960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="307445.010000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCK INC 5.85%</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MERCK INC 5.85%</title>
        <cusip>58933YCJ2</cusip>
        <identifiers>
          <isin value="US58933YCJ29"/>
          <ticker value="MRK"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>512106.33</valUSD>
        <pctVal>0.0170016249</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-05-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HYUNDAI AUTO RECEIV 4.51%</name>
        <lei>N/A</lei>
        <title>HYUNDAI AUTO RECEIV 4.51%</title>
        <cusip>44935KAD5</cusip>
        <identifiers>
          <isin value="US44935KAD54"/>
          <ticker value="HART"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100240.39</valUSD>
        <pctVal>0.0033279212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.510000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNION PACIFIC CORP 3.25%</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>UNION PACIFIC CORP 3.25%</title>
        <cusip>907818FK9</cusip>
        <identifiers>
          <isin value="US907818FK90"/>
          <ticker value="UNP"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>550183.94</valUSD>
        <pctVal>0.0182657788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</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>OSHKOSH CORP 3.10%</name>
        <lei>549300FEKNPCFSA2B506</lei>
        <title>OSHKOSH CORP 3.10%</title>
        <cusip>688225AH4</cusip>
        <identifiers>
          <isin value="US688225AH44"/>
          <ticker value="OSK"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94036.93</valUSD>
        <pctVal>0.0031219700</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.100000000000</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>INTERNATIONAL BUSIN 5.20%</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>INTERNATIONAL BUSIN 5.20%</title>
        <cusip>459200LJ8</cusip>
        <identifiers>
          <isin value="US459200LJ85"/>
          <ticker value="IBM"/>
        </identifiers>
        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>702312.73</valUSD>
        <pctVal>0.0233163640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</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>EMBRAER NETHERLANDS 5.98%</name>
        <lei>724500PBR8LR26XBSP67</lei>
        <title>EMBRAER NETHERLANDS 5.98%</title>
        <cusip>29082HAE2</cusip>
        <identifiers>
          <isin value="US29082HAE27"/>
          <ticker value="EMBRBZ"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>104336.93</valUSD>
        <pctVal>0.0034639239</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.980000000000</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>NEXTERA ENERGY CAP. H F2V</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NEXTERA ENERGY CAP. H F2V</title>
        <cusip>65339KDE7</cusip>
        <identifiers>
          <isin value="US65339KDE73"/>
          <ticker value="NEE"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>509224.5</valUSD>
        <pctVal>0.0169059499</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.375000000000</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>UNION PACIFIC CORP 5.60%</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>UNION PACIFIC CORP 5.60%</title>
        <cusip>907818GH5</cusip>
        <identifiers>
          <isin value="US907818GH52"/>
          <ticker value="UNP"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99179.47</valUSD>
        <pctVal>0.0032926993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</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>BENCHMARK 2020-IG 2.6866%</name>
        <lei>N/A</lei>
        <title>BENCHMARK 2020-IG 2.6866%</title>
        <cusip>08162LAC4</cusip>
        <identifiers>
          <isin value="US08162LAC46"/>
          <ticker value="BMARK"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>87331.31</valUSD>
        <pctVal>0.0028993474</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.686600000000</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>HALLIBURTON CO 2.92%</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>HALLIBURTON CO 2.92%</title>
        <cusip>406216BL4</cusip>
        <identifiers>
          <isin value="US406216BL45"/>
          <ticker value="HAL"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>281588.8</valUSD>
        <pctVal>0.0093485803</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.920000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="22764.600000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 1.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.125%</title>
        <cusip>912810SQ2</cusip>
        <identifiers>
          <isin value="US912810SQ22"/>
          <ticker value="T"/>
        </identifiers>
        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3131640.6</valUSD>
        <pctVal>0.1039686012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.125000000000</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>FREDDIE MAC POOL 1.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 1.50%</title>
        <cusip>3132DWAD5</cusip>
        <identifiers>
          <isin value="US3132DWAD56"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>3396209.5</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2601105.06</valUSD>
        <pctVal>0.0863551375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</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>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31418FU70</cusip>
        <identifiers>
          <isin value="US31418FU707"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>488014.02</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>495931.51</valUSD>
        <pctVal>0.0164646305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</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>NEXTERA ENERGY CAP. H F2V</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NEXTERA ENERGY CAP. H F2V</title>
        <cusip>65339KEF3</cusip>
        <identifiers>
          <isin value="US65339KEF30"/>
          <ticker value="NEE"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>999503.95</valUSD>
        <pctVal>0.0331829353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</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>KINDER MORGAN ENER 5.625%</name>
        <lei>549300PDHUGWPWGOT525</lei>
        <title>KINDER MORGAN ENER 5.625%</title>
        <cusip>494550BK1</cusip>
        <identifiers>
          <isin value="US494550BK12"/>
          <ticker value="KMI"/>
        </identifiers>
        <balance>310000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>303634.48</valUSD>
        <pctVal>0.0100804837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</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>CITIGROUP INC 5.875%</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 5.875%</title>
        <cusip>172967FX4</cusip>
        <identifiers>
          <isin value="US172967FX46"/>
          <ticker value="C"/>
        </identifiers>
        <balance>30000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31029.4</valUSD>
        <pctVal>0.0010301576</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875000000000</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>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36202F4Q6</cusip>
        <identifiers>
          <isin value="US36202F4Q63"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>130996.08</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>122968.59</valUSD>
        <pctVal>0.0040824839</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>PUBLIC SERV. ELEC. 3.95%</name>
        <lei>549300RUHPVD434XUK18</lei>
        <title>PUBLIC SERV. ELEC. 3.95%</title>
        <cusip>74456QAZ9</cusip>
        <identifiers>
          <isin value="US74456QAZ90"/>
          <ticker value="PEG"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>41729.06</valUSD>
        <pctVal>0.0013853799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.950000000000</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>EASTMAN CHEMICAL CO 4.80%</name>
        <lei>FDPVHDGJ1IQZFK9KH630</lei>
        <title>EASTMAN CHEMICAL CO 4.80%</title>
        <cusip>277432AL4</cusip>
        <identifiers>
          <isin value="US277432AL49"/>
          <ticker value="EMN"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>178007.69</valUSD>
        <pctVal>0.0059097492</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</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>FREDDIE MAC GOLD PO 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 2.50%</title>
        <cusip>31306X4T7</cusip>
        <identifiers>
          <isin value="US31306X4T75"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>22218.93</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21992.49</valUSD>
        <pctVal>0.0007301376</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>GILEAD SCIENCES INC 4.80%</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>GILEAD SCIENCES INC 4.80%</title>
        <cusip>375558AX1</cusip>
        <identifiers>
          <isin value="US375558AX11"/>
          <ticker value="GILD"/>
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        <balance>185000</balance>
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        <curCd>USD</curCd>
        <valUSD>168581.65</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KINDER MORGAN ENERG 5.40%</name>
        <lei>549300PDHUGWPWGOT525</lei>
        <title>KINDER MORGAN ENERG 5.40%</title>
        <cusip>494550BW5</cusip>
        <identifiers>
          <isin value="US494550BW59"/>
          <ticker value="KMI"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>47048.01</valUSD>
        <pctVal>0.0015619659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROCTER &amp; GAMBLE CO 1.20%</name>
        <lei>2572IBTT8CCZW6AU4141</lei>
        <title>PROCTER &amp; GAMBLE CO 1.20%</title>
        <cusip>742718FM6</cusip>
        <identifiers>
          <isin value="US742718FM66"/>
          <ticker value="PG"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>262782.61</valUSD>
        <pctVal>0.0087242260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES VAR</title>
        <cusip>3136BCB90</cusip>
        <identifiers>
          <isin value="US3136BCB907"/>
          <ticker value="FHLMC"/>
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        <balance>321113.07</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>284773.92</valUSD>
        <pctVal>0.0094543244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-10-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.367000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FANNIE MAE-ACES VAR</title>
        <cusip>3136BC7H7</cusip>
        <identifiers>
          <isin value="US3136BC7H78"/>
          <ticker value="FHLMC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>170617.84</valUSD>
        <pctVal>0.0056644106</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.739000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ELECTRONIC ARTS INC 1.85%</name>
        <lei>549300O7A67PUEYKDL45</lei>
        <title>ELECTRONIC ARTS INC 1.85%</title>
        <cusip>285512AE9</cusip>
        <identifiers>
          <isin value="US285512AE93"/>
          <ticker value="EA"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>280588.52</valUSD>
        <pctVal>0.0093153716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140L8Z37</cusip>
        <identifiers>
          <isin value="US3140L8Z373"/>
          <ticker value="FNMA"/>
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        <balance>857776.48</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>688711.04</valUSD>
        <pctVal>0.0228647960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.50%</title>
        <cusip>91282CDL2</cusip>
        <identifiers>
          <isin value="US91282CDL28"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4695898.45</valUSD>
        <pctVal>0.1559010293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>31418ECP3</cusip>
        <identifiers>
          <isin value="US31418ECP34"/>
          <ticker value="FNMA"/>
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        <balance>3184566.84</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2551606.19</valUSD>
        <pctVal>0.0847118045</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KEURIG DR PEPPER IN 4.05%</name>
        <lei>DYTQ8KRTKO7Y2BVU5K74</lei>
        <title>KEURIG DR PEPPER IN 4.05%</title>
        <cusip>49271VAQ3</cusip>
        <identifiers>
          <isin value="US49271VAQ32"/>
          <ticker value="KDP"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>189777.89</valUSD>
        <pctVal>0.0063005128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TREA 3.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TREA 3.125%</title>
        <cusip>91282CFJ5</cusip>
        <identifiers>
          <isin value="US91282CFJ53"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4845703.1</valUSD>
        <pctVal>0.1608744544</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PG&amp;E RECOVERY FUND 5.256%</name>
        <lei>N/A</lei>
        <title>PG&amp;E RECOVERY FUND 5.256%</title>
        <cusip>71710TAE8</cusip>
        <identifiers>
          <isin value="US71710TAE82"/>
          <ticker value="PCG"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25384.97</valUSD>
        <pctVal>0.0008427659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.256000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.75%</title>
        <cusip>912810TV0</cusip>
        <identifiers>
          <isin value="US912810TV08"/>
          <ticker value="T"/>
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        <balance>6750000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6530097.69</valUSD>
        <pctVal>0.2167953507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.75%</title>
        <cusip>91282CJQ5</cusip>
        <identifiers>
          <isin value="US91282CJQ50"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4906835.95</valUSD>
        <pctVal>0.1629040286</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ELI LILLY &amp; CO 4.90%</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>ELI LILLY &amp; CO 4.90%</title>
        <cusip>532457CW6</cusip>
        <identifiers>
          <isin value="US532457CW67"/>
          <ticker value="LLY"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1013681.15</valUSD>
        <pctVal>0.0336536099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SYNCHRONY CARD ISSU 4.78%</name>
        <lei>N/A</lei>
        <title>SYNCHRONY CARD ISSU 4.78%</title>
        <cusip>87166PAP6</cusip>
        <identifiers>
          <isin value="US87166PAP62"/>
          <ticker value="SYNIT"/>
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        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>75372.91</valUSD>
        <pctVal>0.0025023357</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.780000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.00%</title>
        <cusip>912810SF6</cusip>
        <identifiers>
          <isin value="US912810SF66"/>
          <ticker value="T"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2916250</valUSD>
        <pctVal>0.0968177616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FANNIE MAE-ACES 3.61%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES 3.61%</title>
        <cusip>3136B35Z9</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>119744.82</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CME GRP. INC 4.40%</name>
        <lei>LCZ7XYGSLJUHFXXNXD88</lei>
        <title>CME GRP. INC 4.40%</title>
        <cusip>12572QAL9</cusip>
        <identifiers>
          <isin value="US12572QAL95"/>
          <ticker value="CME"/>
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        <balance>610000</balance>
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        <curCd>USD</curCd>
        <valUSD>607109.45</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DOW CHEM. CO/THE 5.95%</name>
        <lei>ZQUIP1CSZO8LXRBSOU78</lei>
        <title>DOW CHEM. CO/THE 5.95%</title>
        <cusip>260543DM2</cusip>
        <identifiers>
          <isin value="US260543DM21"/>
          <ticker value="DOW"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>232279.79</valUSD>
        <pctVal>0.0077115506</pctVal>
        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2055-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL BUSIN 4.25%</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>INTERNATIONAL BUSIN 4.25%</title>
        <cusip>459200KC4</cusip>
        <identifiers>
          <isin value="US459200KC42"/>
          <ticker value="IBM"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>234434.03</valUSD>
        <pctVal>0.0077830701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WASTE MGT. INC 4.15%</name>
        <lei>549300YX8JIID70NFS41</lei>
        <title>WASTE MGT. INC 4.15%</title>
        <cusip>94106LBK4</cusip>
        <identifiers>
          <isin value="US94106LBK44"/>
          <ticker value="WM"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>163412.16</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MARKEL CORP 5.00%</name>
        <lei>549300SCNO12JLWIK605</lei>
        <title>MARKEL CORP 5.00%</title>
        <cusip>570535AT1</cusip>
        <identifiers>
          <isin value="US570535AT11"/>
          <ticker value="MKL"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>175509.85</valUSD>
        <pctVal>0.0058268224</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179UUJ9</cusip>
        <identifiers>
          <isin value="US36179UUJ95"/>
          <ticker value="GNR"/>
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        <balance>337816.37</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>308987.26</valUSD>
        <pctVal>0.0102581928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.50%</title>
        <cusip>91282CKT7</cusip>
        <identifiers>
          <isin value="US91282CKT70"/>
          <ticker value="T"/>
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        <balance>7500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7567968.75</valUSD>
        <pctVal>0.2512520512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.25%</title>
        <cusip>912810UC0</cusip>
        <identifiers>
          <isin value="US912810UC08"/>
          <ticker value="T"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5356875</valUSD>
        <pctVal>0.1778450568</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>3132ACSM3</cusip>
        <identifiers>
          <isin value="US3132ACSM37"/>
          <ticker value="FHLMC"/>
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        <balance>191531.2</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>187044.84</valUSD>
        <pctVal>0.0062097772</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3132AD3K2</cusip>
        <identifiers>
          <isin value="US3132AD3K27"/>
          <ticker value="FHLMC"/>
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        <balance>214413.54</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203469.28</valUSD>
        <pctVal>0.0067550588</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.50%</title>
        <cusip>91282CMC2</cusip>
        <identifiers>
          <isin value="US91282CMC28"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5063671.9</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.75%</title>
        <cusip>91282CPW5</cusip>
        <identifiers>
          <isin value="US91282CPW54"/>
          <ticker value="T"/>
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        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3433964.84</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HUMANA INC 3.125%</name>
        <lei>529900YLDW34GJAO4J06</lei>
        <title>HUMANA INC 3.125%</title>
        <cusip>444859BK7</cusip>
        <identifiers>
          <isin value="US444859BK72"/>
          <ticker value="HUM"/>
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        <balance>85000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>81152.5</valUSD>
        <pctVal>0.0026942146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CVS HEALTH CORP 3.25%</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 3.25%</title>
        <cusip>126650DG2</cusip>
        <identifiers>
          <isin value="US126650DG21"/>
          <ticker value="CVS"/>
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        <balance>191000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>182900.19</valUSD>
        <pctVal>0.0060721773</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
        <cusip>91282CQH7</cusip>
        <identifiers>
          <isin value="US91282CQH78"/>
          <ticker value="T"/>
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        <balance>7000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6965546.84</valUSD>
        <pctVal>0.2312520029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GLOBAL PAYMENTS INC 4.15%</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>GLOBAL PAYMENTS INC 4.15%</title>
        <cusip>37940XAC6</cusip>
        <identifiers>
          <isin value="US37940XAC65"/>
          <ticker value="GPN"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>291843.08</valUSD>
        <pctVal>0.0096890163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.150000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROGRESSIVE CORP/TH 3.95%</name>
        <lei>529900TACNVLY9DCR586</lei>
        <title>PROGRESSIVE CORP/TH 3.95%</title>
        <cusip>743315AX1</cusip>
        <identifiers>
          <isin value="US743315AX14"/>
          <ticker value="PGR"/>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
        <valUSD>311274.38</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.950000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED PARCEL SERV. 5.20%</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>UNITED PARCEL SERV. 5.20%</title>
        <cusip>911312BV7</cusip>
        <identifiers>
          <isin value="US911312BV78"/>
          <ticker value="UPS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>493542.21</valUSD>
        <pctVal>0.0163853072</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LYB INTL. FIN. III 4.20%</name>
        <lei>984500A51LA0B8EB4053</lei>
        <title>LYB INTL. FIN. III 4.20%</title>
        <cusip>50249AAD5</cusip>
        <identifiers>
          <isin value="US50249AAD54"/>
          <ticker value="LYB"/>
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        <balance>35000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25434.25</valUSD>
        <pctVal>0.0008444019</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.200000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WALT DISNEY CO/THE 3.60%</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>WALT DISNEY CO/THE 3.60%</title>
        <cusip>254687FZ4</cusip>
        <identifiers>
          <isin value="US254687FZ49"/>
          <ticker value="DIS"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>219165.52</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.600000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITEDHEALTH GROUP 2.00%</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GROUP 2.00%</title>
        <cusip>91324PDX7</cusip>
        <identifiers>
          <isin value="US91324PDX78"/>
          <ticker value="UNH"/>
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        <balance>216000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>196577.52</valUSD>
        <pctVal>0.0065262565</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MICROSOFT CORP 2.525%</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>MICROSOFT CORP 2.525%</title>
        <cusip>594918CC6</cusip>
        <identifiers>
          <isin value="US594918CC64"/>
          <ticker value="MSFT"/>
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        <balance>540000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>321117.63</valUSD>
        <pctVal>0.0106609139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.525000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3140QDBW3</cusip>
        <identifiers>
          <isin value="US3140QDBW35"/>
          <ticker value="FNMA"/>
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        <balance>570544.35</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502970.84</valUSD>
        <pctVal>0.0166983321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST CITIZENS BANCSH F2V</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>FIRST CITIZENS BANCSH F2V</title>
        <cusip>31959XAF0</cusip>
        <identifiers>
          <isin value="US31959XAF06"/>
          <ticker value="FCNCA"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98538.28</valUSD>
        <pctVal>0.0032714122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-03-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.254000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>3140QVR48</cusip>
        <identifiers>
          <isin value="US3140QVR481"/>
          <ticker value="FNMA"/>
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        <balance>853186.92</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>885042.58</valUSD>
        <pctVal>0.0293828861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED PARCEL SERV. 6.05%</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>UNITED PARCEL SERV. 6.05%</title>
        <cusip>911312CL8</cusip>
        <identifiers>
          <isin value="US911312CL87"/>
          <ticker value="UPS"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>256197.03</valUSD>
        <pctVal>0.0085055887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-05-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 4.50%</title>
        <cusip>3128P7QX4</cusip>
        <identifiers>
          <isin value="US3128P7QX47"/>
          <ticker value="FHLMC"/>
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        <balance>30427.12</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30317.53</valUSD>
        <pctVal>0.0010065239</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RALPH LAUREN CORP 2.95%</name>
        <lei>HO1QNWM0IXBZ0QSMMO20</lei>
        <title>RALPH LAUREN CORP 2.95%</title>
        <cusip>731572AB9</cusip>
        <identifiers>
          <isin value="US731572AB96"/>
          <ticker value="RL"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>93799.38</valUSD>
        <pctVal>0.0031140835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EVERSOURCE ENERGY 1.65%</name>
        <lei>SJ7XXD41SQU3ZNWUJ746</lei>
        <title>EVERSOURCE ENERGY 1.65%</title>
        <cusip>30040WAK4</cusip>
        <identifiers>
          <isin value="US30040WAK45"/>
          <ticker value="ES"/>
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        <balance>165000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>145576.23</valUSD>
        <pctVal>0.0048330441</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="3554.050000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>CVS HEALTH CORP 1.30%</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 1.30%</title>
        <cusip>126650DM9</cusip>
        <identifiers>
          <isin value="US126650DM98"/>
          <ticker value="CVS"/>
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        <balance>39000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>37620.7</valUSD>
        <pctVal>0.0012489848</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HEALTHCARE REALTY H 2.00%</name>
        <lei>549300IYGAS4GE6VDL07</lei>
        <title>HEALTHCARE REALTY H 2.00%</title>
        <cusip>42225UAH7</cusip>
        <identifiers>
          <isin value="US42225UAH77"/>
          <ticker value="HR"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>87350.32</valUSD>
        <pctVal>0.0028999786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 0.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 0.625%</title>
        <cusip>91282CBB6</cusip>
        <identifiers>
          <isin value="US91282CBB63"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4745312.5</valUSD>
        <pctVal>0.1575415463</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VERIZON COMMUNICATI 1.68%</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMUNICATI 1.68%</title>
        <cusip>92343VFX7</cusip>
        <identifiers>
          <isin value="US92343VFX73"/>
          <ticker value="VZ"/>
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        <balance>818000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>722257.41</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 5.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.50%</title>
        <cusip>3128L0WW8</cusip>
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          <isin value="US3128L0WW87"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>90759.46</valUSD>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCK INC 3.70%</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MERCK INC 3.70%</title>
        <cusip>58933YAT2</cusip>
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          <ticker value="MRK"/>
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        <curCd>USD</curCd>
        <valUSD>47165.47</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>2045-02-10</maturityDt>
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      <invstOrSec>
        <name>UNITED STATES TSY. 2.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.875%</title>
        <cusip>91282CEP2</cusip>
        <identifiers>
          <isin value="US91282CEP23"/>
          <ticker value="T"/>
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        <balance>9000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8355585.96</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.375%</title>
        <cusip>91282CHC8</cusip>
        <identifiers>
          <isin value="US91282CHC82"/>
          <ticker value="T"/>
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        <balance>9500000</balance>
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        <curCd>USD</curCd>
        <valUSD>8972675.81</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.375000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN 4.375%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FEDERAL HOME LOAN 4.375%</title>
        <cusip>3130AWTR1</cusip>
        <identifiers>
          <isin value="US3130AWTR13"/>
          <ticker value="FHLB"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1505939.13</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.625%</title>
        <cusip>91282CHZ7</cusip>
        <identifiers>
          <isin value="US91282CHZ77"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5081640.6</valUSD>
        <pctVal>0.1687074388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BORGWARNER INC 4.375%</name>
        <lei>549300DSFX2IE88NSX47</lei>
        <title>BORGWARNER INC 4.375%</title>
        <cusip>099724AH9</cusip>
        <identifiers>
          <isin value="US099724AH99"/>
          <ticker value="BWA"/>
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        <balance>170000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>141687.8</valUSD>
        <pctVal>0.0047039505</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>QUALCOMM INC 4.80%</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM INC 4.80%</title>
        <cusip>747525AK9</cusip>
        <identifiers>
          <isin value="US747525AK99"/>
          <ticker value="QCOM"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>267601.1</valUSD>
        <pctVal>0.0088841970</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MCKESSON CORP 4.65%</name>
        <lei>549300WZWOM80UCFSF54</lei>
        <title>MCKESSON CORP 4.65%</title>
        <cusip>581557BW4</cusip>
        <identifiers>
          <isin value="US581557BW49"/>
          <ticker value="MCK"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>500144.61</valUSD>
        <pctVal>0.0166045029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ARES STRAT. INC. FU 6.20%</name>
        <lei>549300IANZJVZPTICV54</lei>
        <title>ARES STRAT. INC. FU 6.20%</title>
        <cusip>04020EAJ6</cusip>
        <identifiers>
          <isin value="US04020EAJ64"/>
          <ticker value="ARESSI"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>148339.24</valUSD>
        <pctVal>0.0049247743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DUPONT DE NEMOURS 4.725%</name>
        <lei>5493004JF0SDFLM8GD76</lei>
        <title>DUPONT DE NEMOURS 4.725%</title>
        <cusip>26614NAC6</cusip>
        <identifiers>
          <isin value="US26614NAC65"/>
          <ticker value="DD"/>
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        <balance>208000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>207902.85</valUSD>
        <pctVal>0.0069022507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.725000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>THERMO FISHER SCIE 4.473%</name>
        <lei>HCHV7422L5HDJZCRFL38</lei>
        <title>THERMO FISHER SCIE 4.473%</title>
        <cusip>883556DD1</cusip>
        <identifiers>
          <isin value="US883556DD17"/>
          <ticker value="TMO"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>246024.77</valUSD>
        <pctVal>0.0081678757</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.473000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CRH AMERICA FIN. IN 5.00%</name>
        <lei>549300WEVUODRJ4CWK56</lei>
        <title>CRH AMERICA FIN. IN 5.00%</title>
        <cusip>12636YAJ1</cusip>
        <identifiers>
          <isin value="US12636YAJ10"/>
          <ticker value="CRHID"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244509.06</valUSD>
        <pctVal>0.0081175550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>META PLATFORMS INC 5.625%</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>META PLATFORMS INC 5.625%</title>
        <cusip>30303MAE2</cusip>
        <identifiers>
          <isin value="US30303MAE21"/>
          <ticker value="META"/>
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        <balance>1200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1087387.98</valUSD>
        <pctVal>0.0361006327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>META PLATFORMS INC 5.75%</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>META PLATFORMS INC 5.75%</title>
        <cusip>30303M8Y1</cusip>
        <identifiers>
          <isin value="US30303M8Y18"/>
          <ticker value="META"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179666.31</valUSD>
        <pctVal>0.0059648144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>3140Y7C48</cusip>
        <identifiers>
          <isin value="US3140Y7C486"/>
          <ticker value="FNMA"/>
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        <balance>1040472.23</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1034564.16</valUSD>
        <pctVal>0.0343469134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE-ACES VAR</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE-ACES VAR</title>
        <cusip>3136G5RC6</cusip>
        <identifiers>
          <isin value="US3136G5RC60"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>84220.56</valUSD>
        <pctVal>0.0027960724</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>1.623000000000</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>CARVANA AUTO RECEIV 4.91%</name>
        <lei>N/A</lei>
        <title>CARVANA AUTO RECEIV 4.91%</title>
        <cusip>14689CAD4</cusip>
        <identifiers>
          <isin value="US14689CAD48"/>
          <ticker value="CRVNA"/>
        </identifiers>
        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25097.15</valUSD>
        <pctVal>0.0008332104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.910000000000</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>GENERAL MOTORS CO 6.25%</name>
        <lei>54930070NSV60J38I987</lei>
        <title>GENERAL MOTORS CO 6.25%</title>
        <cusip>37045VAF7</cusip>
        <identifiers>
          <isin value="US37045VAF76"/>
          <ticker value="GM"/>
        </identifiers>
        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>351930.29</valUSD>
        <pctVal>0.0116838758</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-10-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="102114.010000000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MITSUBISHI UFJ FIN 3.287%</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>MITSUBISHI UFJ FIN 3.287%</title>
        <cusip>606822AR5</cusip>
        <identifiers>
          <isin value="US606822AR58"/>
          <ticker value="MUFG"/>
        </identifiers>
        <balance>378000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>374105.47</valUSD>
        <pctVal>0.0124200786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.287000000000</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>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179RLP2</cusip>
        <identifiers>
          <isin value="US36179RLP28"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>257543.81</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>237081.26</valUSD>
        <pctVal>0.0078709565</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179RVB2</cusip>
        <identifiers>
          <isin value="US36179RVB22"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>731477.15</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>674069.24</valUSD>
        <pctVal>0.0223786970</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>GENERAL MOTORS CO 5.40%</name>
        <lei>54930070NSV60J38I987</lei>
        <title>GENERAL MOTORS CO 5.40%</title>
        <cusip>37045VAQ3</cusip>
        <identifiers>
          <isin value="US37045VAQ32"/>
          <ticker value="GM"/>
        </identifiers>
        <balance>267000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>239964.18</valUSD>
        <pctVal>0.0079666677</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</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>EATON CORP 3.103%</name>
        <lei>0NZWDMRCE180888QQE14</lei>
        <title>EATON CORP 3.103%</title>
        <cusip>278062AG9</cusip>
        <identifiers>
          <isin value="US278062AG90"/>
          <ticker value="ETN"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>246677.25</valUSD>
        <pctVal>0.0081895377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.103000000000</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>GENERAL DYNAMICS CO 3.75%</name>
        <lei>9C1X8XOOTYY2FNYTVH06</lei>
        <title>GENERAL DYNAMICS CO 3.75%</title>
        <cusip>369550BC1</cusip>
        <identifiers>
          <isin value="US369550BC16"/>
          <ticker value="GD"/>
        </identifiers>
        <balance>246000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>243743.95</valUSD>
        <pctVal>0.0080921538</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</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>GLAXOSMITHKLINE CA 3.875%</name>
        <lei>5493007Q8VD7Q3ZYZS59</lei>
        <title>GLAXOSMITHKLINE CA 3.875%</title>
        <cusip>377372AN7</cusip>
        <identifiers>
          <isin value="US377372AN70"/>
          <ticker value="GSK"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297823.22</valUSD>
        <pctVal>0.0098875534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</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>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137FHQ63</cusip>
        <identifiers>
          <isin value="US3137FHQ630"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98051.32</valUSD>
        <pctVal>0.0032552454</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.990000000000</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>O REILLY AUTOMOTIVE 3.90%</name>
        <lei>549300K2RLMQL149Q332</lei>
        <title>O REILLY AUTOMOTIVE 3.90%</title>
        <cusip>67103HAH0</cusip>
        <identifiers>
          <isin value="US67103HAH03"/>
          <ticker value="ORLY"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>489796.82</valUSD>
        <pctVal>0.0162609625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.900000000000</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>ANHEUSER-BUSCH COS 4.90%</name>
        <lei>5493002J2SVENP0PVK27</lei>
        <title>ANHEUSER-BUSCH COS 4.90%</title>
        <cusip>03522AAJ9</cusip>
        <identifiers>
          <isin value="US03522AAJ97"/>
          <ticker value="ABIBB"/>
        </identifiers>
        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1366533.56</valUSD>
        <pctVal>0.0453680996</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</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>FREDDIE MAC POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>31329JJC2</cusip>
        <identifiers>
          <isin value="US31329JJC27"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>141883.24</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>133104.31</valUSD>
        <pctVal>0.0044189837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>FREDDIE MAC POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>3132AARQ9</cusip>
        <identifiers>
          <isin value="US3132AARQ93"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>363279.39</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>338057.44</valUSD>
        <pctVal>0.0112233055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>FREDDIE MAC POOL 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.00%</title>
        <cusip>3131XVEE1</cusip>
        <identifiers>
          <isin value="US3131XVEE18"/>
          <ticker value="FHLMC"/>
        </identifiers>
        <balance>236959.15</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>212155.27</valUSD>
        <pctVal>0.0070434285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</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>BANCO SANTANDER SA 3.306%</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>BANCO SANTANDER SA 3.306%</title>
        <cusip>05971KAC3</cusip>
        <identifiers>
          <isin value="US05971KAC36"/>
          <ticker value="SANTAN"/>
        </identifiers>
        <balance>1400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1348660.68</valUSD>
        <pctVal>0.0447747306</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.306000000000</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>PANAMA GOV. INTL. B 3.16%</name>
        <lei>549300SHS4T08CL0LP14</lei>
        <title>PANAMA GOV. INTL. B 3.16%</title>
        <cusip>698299BK9</cusip>
        <identifiers>
          <isin value="US698299BK97"/>
          <ticker value="PANAMA"/>
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        <balance>33100</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31114</valUSD>
        <pctVal>0.0010329663</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.160000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK 2019-BNK19 3.183%</name>
        <lei>N/A</lei>
        <title>BANK 2019-BNK19 3.183%</title>
        <cusip>06540WBD4</cusip>
        <identifiers>
          <isin value="US06540WBD48"/>
          <ticker value="BANK"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>283744.8</valUSD>
        <pctVal>0.0094201582</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-08-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.183000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COSTCO WHOLESALE CO 1.75%</name>
        <lei>29DX7H14B9S6O3FD6V18</lei>
        <title>COSTCO WHOLESALE CO 1.75%</title>
        <cusip>22160KAQ8</cusip>
        <identifiers>
          <isin value="US22160KAQ85"/>
          <ticker value="COST"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>259967.45</valUSD>
        <pctVal>0.0086307644</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PPG INDS. INC 2.55%</name>
        <lei>549300BKPEP01R3V6C59</lei>
        <title>PPG INDS. INC 2.55%</title>
        <cusip>693506BS5</cusip>
        <identifiers>
          <isin value="US693506BS57"/>
          <ticker value="PPG"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>92686.61</valUSD>
        <pctVal>0.0030771402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITEDHEALTH GRP. I 2.90%</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GRP. I 2.90%</title>
        <cusip>91324PDZ2</cusip>
        <identifiers>
          <isin value="US91324PDZ27"/>
          <ticker value="UNH"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>255346.88</valUSD>
        <pctVal>0.0084773642</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>3618N5MQ9</cusip>
        <identifiers>
          <isin value="US3618N5MQ96"/>
          <ticker value="GNR"/>
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        <balance>1949168.91</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1962155.35</valUSD>
        <pctVal>0.0651423880</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NISSAN AUTO RECEIVA 4.49%</name>
        <lei>N/A</lei>
        <title>NISSAN AUTO RECEIVA 4.49%</title>
        <cusip>65481GAD7</cusip>
        <identifiers>
          <isin value="US65481GAD79"/>
          <ticker value="NAROT"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>150354.56</valUSD>
        <pctVal>0.0049916818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.490000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.00%</title>
        <cusip>36179TG33</cusip>
        <identifiers>
          <isin value="US36179TG338"/>
          <ticker value="GNR"/>
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        <balance>226959.48</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203610.92</valUSD>
        <pctVal>0.0067597612</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CVS HEALTH CORP 4.30%</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 4.30%</title>
        <cusip>126650CX6</cusip>
        <identifiers>
          <isin value="US126650CX62"/>
          <ticker value="CVS"/>
        </identifiers>
        <balance>234000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>232753.44</valUSD>
        <pctVal>0.0077272755</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SMURFIT KAPPA TSY. 5.777%</name>
        <lei>635400B3DOXSWFOWJT40</lei>
        <title>SMURFIT KAPPA TSY. 5.777%</title>
        <cusip>83272GAF8</cusip>
        <identifiers>
          <isin value="US83272GAF81"/>
          <ticker value="SW"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199419.54</valUSD>
        <pctVal>0.0066206099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.777000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="184071.090000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>MPLX LP 5.40%</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP 5.40%</title>
        <cusip>55336VCC2</cusip>
        <identifiers>
          <isin value="US55336VCC28"/>
          <ticker value="MPLX"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>498619.05</valUSD>
        <pctVal>0.0165538552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROYALTY PHARMA PLC 5.95%</name>
        <lei>549300FGFN7VOK8BZR03</lei>
        <title>ROYALTY PHARMA PLC 5.95%</title>
        <cusip>78081BAV5</cusip>
        <identifiers>
          <isin value="US78081BAV53"/>
          <ticker value="RPRX"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249155.04</valUSD>
        <pctVal>0.0082717988</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL BUSIN 5.80%</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>INTERNATIONAL BUSIN 5.80%</title>
        <cusip>459200LV1</cusip>
        <identifiers>
          <isin value="US459200LV14"/>
          <ticker value="IBM"/>
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        <balance>240000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>232808.82</valUSD>
        <pctVal>0.0077291140</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-02-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 4.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.625%</title>
        <cusip>912810UT3</cusip>
        <identifiers>
          <isin value="US912810UT33"/>
          <ticker value="T"/>
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        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2879531.25</valUSD>
        <pctVal>0.0955987210</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.75%</title>
        <cusip>91282CQC8</cusip>
        <identifiers>
          <isin value="US91282CQC81"/>
          <ticker value="T"/>
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        <balance>7000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6779882.83</valUSD>
        <pctVal>0.2250880685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.50%</title>
        <cusip>91282CQD6</cusip>
        <identifiers>
          <isin value="US91282CQD64"/>
          <ticker value="T"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5823984.36</valUSD>
        <pctVal>0.1933528091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL FARM CREDIT 4.47%</name>
        <lei>254900C5LP6DN9OP9V83</lei>
        <title>FEDERAL FARM CREDIT 4.47%</title>
        <cusip>3133EWED8</cusip>
        <identifiers>
          <isin value="US3133EWED84"/>
          <ticker value="FFCB"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>981803.74</valUSD>
        <pctVal>0.0325952989</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-02-23</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SALESFORCE INC 5.55%</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>SALESFORCE INC 5.55%</title>
        <cusip>79466LAU8</cusip>
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          <ticker value="CRM"/>
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        <valUSD>1069188.75</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AMAZON.COM INC 4.875%</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON.COM INC 4.875%</title>
        <cusip>023135DF0</cusip>
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        <curCd>USD</curCd>
        <valUSD>639861.98</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AMAZON.COM INC 4.55%</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
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        <cusip>023135DE3</cusip>
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        <curCd>USD</curCd>
        <valUSD>491854.67</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2033-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HSBC HLDGS. PLC F2F</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
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          <ticker value="HSBC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>395348.77</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>2037-03-10</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>3131Y2WJ3</cusip>
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        <curCd>USD</curCd>
        <valUSD>39120.15</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3132ACYH7</cusip>
        <identifiers>
          <isin value="US3132ACYH77"/>
          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>115254.98</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>31334XML0</cusip>
        <identifiers>
          <isin value="US31334XML00"/>
          <ticker value="FHLB"/>
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        <balance>164461.55</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>151498.05</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 4.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.00%</title>
        <cusip>3133KGKH0</cusip>
        <identifiers>
          <isin value="US3133KGKH01"/>
          <ticker value="FHLMC"/>
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        <balance>593565.13</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>562711.18</valUSD>
        <pctVal>0.0186816757</pctVal>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140QHER2</cusip>
        <identifiers>
          <isin value="US3140QHER27"/>
          <ticker value="FNMA"/>
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        <balance>598775.56</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>547130</valUSD>
        <pctVal>0.0181643899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3132DVLR4</cusip>
        <identifiers>
          <isin value="US3132DVLR41"/>
          <ticker value="FHLMC"/>
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        <balance>4655485.28</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3971491.98</valUSD>
        <pctVal>0.1318511663</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>31427SSZ2</cusip>
        <identifiers>
          <isin value="US31427SSZ29"/>
          <ticker value="FHLMC"/>
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        <balance>496016.42</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>477060.75</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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      <invstOrSec>
        <name>META PLATFORMS INC 6.20%</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>META PLATFORMS INC 6.20%</title>
        <cusip>30303MAJ1</cusip>
        <identifiers>
          <isin value="US30303MAJ18"/>
          <ticker value="META"/>
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        <balance>1500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1501037.79</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.200000000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3132CWT46</cusip>
        <identifiers>
          <isin value="US3132CWT466"/>
          <ticker value="FHLMC"/>
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        <balance>867641.51</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>791397.95</valUSD>
        <pctVal>0.0262739402</pctVal>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>3140QSQH7</cusip>
        <identifiers>
          <isin value="US3140QSQH71"/>
          <ticker value="FNMA"/>
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        <balance>647455.33</balance>
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        <curCd>USD</curCd>
        <valUSD>665863.09</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>DTE ELEC. SECURITIZ 6.09%</name>
        <lei>N/A</lei>
        <title>DTE ELEC. SECURITIZ 6.09%</title>
        <cusip>23346TAB7</cusip>
        <identifiers>
          <isin value="US23346TAB70"/>
          <ticker value="DTE"/>
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        <curCd>USD</curCd>
        <valUSD>32283.91</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.090000000000</annualizedRt>
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      <invstOrSec>
        <name>ENBRIDGE INC 5.625%</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>ENBRIDGE INC 5.625%</title>
        <cusip>29250NCC7</cusip>
        <identifiers>
          <isin value="US29250NCC74"/>
          <ticker value="ENBCN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>308860.3</valUSD>
        <pctVal>0.0102539778</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-04-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EXETER AUTOMOBILE R 5.44%</name>
        <lei>N/A</lei>
        <title>EXETER AUTOMOBILE R 5.44%</title>
        <cusip>30167AAF0</cusip>
        <identifiers>
          <isin value="US30167AAF03"/>
          <ticker value="EART"/>
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        <balance>25000</balance>
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        <curCd>USD</curCd>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 6.00%</title>
        <cusip>36179YW67</cusip>
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          <isin value="US36179YW673"/>
          <ticker value="GNR"/>
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        <balance>971544.06</balance>
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        <curCd>USD</curCd>
        <valUSD>995963.31</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>EUROPEAN INV. BANK 4.375%</name>
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          <ticker value="EIB"/>
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        <curCd>USD</curCd>
        <valUSD>905641.07</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>KINDER MORGAN INC 5.95%</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>KINDER MORGAN INC 5.95%</title>
        <cusip>49456BBA8</cusip>
        <identifiers>
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          <ticker value="KMI"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200759.9</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>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 6.00%</title>
        <cusip>3132DSM74</cusip>
        <identifiers>
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          <ticker value="FHLMC"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1115588.73</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 6.00%</title>
        <cusip>3142GRLK4</cusip>
        <identifiers>
          <isin value="US3142GRLK49"/>
          <ticker value="FHLMC"/>
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        <balance>621464.9</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>635830.48</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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      <invstOrSec>
        <name>PACCAR FINL. CORP 4.00%</name>
        <lei>PH3S12DWZBHHQKVYZ297</lei>
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        <cusip>69371RT48</cusip>
        <identifiers>
          <isin value="US69371RT486"/>
          <ticker value="PCAR"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197933.85</valUSD>
        <pctVal>0.0065712858</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</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>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418FGE1</cusip>
        <identifiers>
          <isin value="US31418FGE16"/>
          <ticker value="FNMA"/>
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        <balance>84404.88</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>82137.17</valUSD>
        <pctVal>0.0027269051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WORLD OMNI AUTO REC 4.86%</name>
        <lei>N/A</lei>
        <title>WORLD OMNI AUTO REC 4.86%</title>
        <cusip>98164YAE1</cusip>
        <identifiers>
          <isin value="US98164YAE14"/>
          <ticker value="WOART"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>150828.32</valUSD>
        <pctVal>0.0050074103</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.860000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WELLS FARGO &amp; CO F2F</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO F2F</title>
        <cusip>95000U3P6</cusip>
        <identifiers>
          <isin value="US95000U3P60"/>
          <ticker value="WFC"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1013659.77</valUSD>
        <pctVal>0.0336529001</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.244000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GMM8</cusip>
        <identifiers>
          <isin value="US06051GMM86"/>
          <ticker value="BAC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204232.38</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.511000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. IN F2F</title>
        <cusip>38141GC36</cusip>
        <identifiers>
          <isin value="US38141GC365"/>
          <ticker value="GS"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1010772.83</valUSD>
        <pctVal>0.0335570554</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.207000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INTERNATIONAL BUSIN 5.00%</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>INTERNATIONAL BUSIN 5.00%</title>
        <cusip>459200LH2</cusip>
        <identifiers>
          <isin value="US459200LH20"/>
          <ticker value="IBM"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502776.05</valUSD>
        <pctVal>0.0166918652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GMQ9</cusip>
        <identifiers>
          <isin value="US06051GMQ90"/>
          <ticker value="BAC"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>714116.63</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.744000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      <invstOrSec>
        <name>NEXTERA ENERGY CAP. H F2V</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NEXTERA ENERGY CAP. H F2V</title>
        <cusip>65339KDF4</cusip>
        <identifiers>
          <isin value="US65339KDF49"/>
          <ticker value="NEE"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>256608.75</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.500000000000</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>
        <name>ELI LILLY &amp; CO 5.60%</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>ELI LILLY &amp; CO 5.60%</title>
        <cusip>532457CZ9</cusip>
        <identifiers>
          <isin value="US532457CZ98"/>
          <ticker value="LLY"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>495681.91</valUSD>
        <pctVal>0.0164563439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FLOWERS FOODS INC 6.20%</name>
        <lei>7YNCQQNDK8FBM9BBTK25</lei>
        <title>FLOWERS FOODS INC 6.20%</title>
        <cusip>343498AE1</cusip>
        <identifiers>
          <isin value="US343498AE15"/>
          <ticker value="FLO"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>171454.82</valUSD>
        <pctVal>0.0056921978</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BERRY GBL. INC 5.80%</name>
        <lei>549300AP2Q7ERHX6RI89</lei>
        <title>BERRY GBL. INC 5.80%</title>
        <cusip>08576BAB8</cusip>
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          <ticker value="AMCR"/>
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        <curCd>USD</curCd>
        <valUSD>311076.19</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HUMANA INC 6.00%</name>
        <lei>529900YLDW34GJAO4J06</lei>
        <title>HUMANA INC 6.00%</title>
        <cusip>444859CC4</cusip>
        <identifiers>
          <isin value="US444859CC48"/>
          <ticker value="HUM"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>242325.06</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>Fixed</couponKind>
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      <invstOrSec>
        <name>VIRGINIA ELEC. AND 5.65%</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
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          <ticker value="D"/>
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        <curCd>USD</curCd>
        <valUSD>195538.79</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>3140W0XN0</cusip>
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          <isin value="US3140W0XN06"/>
          <ticker value="FNMA"/>
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        <balance>1502975.4</balance>
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        <curCd>USD</curCd>
        <valUSD>1537717.68</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CITIGROUP INC F2F</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC F2F</title>
        <cusip>17327CAW3</cusip>
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          <isin value="US17327CAW38"/>
          <ticker value="C"/>
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        <balance>980000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>982354.51</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-04</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137HK2C7</cusip>
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          <isin value="US3137HK2C76"/>
          <ticker value="FHMS"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199817.94</valUSD>
        <pctVal>0.0066338365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Variable</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CSX CORP 5.05%</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX CORP 5.05%</title>
        <cusip>126408HZ9</cusip>
        <identifiers>
          <isin value="US126408HZ94"/>
          <ticker value="CSX"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>501029.3</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.050000000000</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>
        <name>COMCAST CORP 4.95%</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP 4.95%</title>
        <cusip>20030NER8</cusip>
        <identifiers>
          <isin value="US20030NER89"/>
          <ticker value="CMCSA"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200553.51</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
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          <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>
        <name>BANK OF AMERICA CORP F2F</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP F2F</title>
        <cusip>06051GMW6</cusip>
        <identifiers>
          <isin value="US06051GMW68"/>
          <ticker value="BAC"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>255109.06</valUSD>
        <pctVal>0.0084694687</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.464000000000</annualizedRt>
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          <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>
        <name>CUMMINS INC 5.30%</name>
        <lei>ZUNI8PYC725B6H8JU438</lei>
        <title>CUMMINS INC 5.30%</title>
        <cusip>231021BA3</cusip>
        <identifiers>
          <isin value="US231021BA37"/>
          <ticker value="CMI"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>509977.36</valUSD>
        <pctVal>0.0169309444</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.300000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COMMONWEALTH EDISON 5.95%</name>
        <lei>D8YOXB8L2ZDC8P7Q0771</lei>
        <title>COMMONWEALTH EDISON 5.95%</title>
        <cusip>202795KB5</cusip>
        <identifiers>
          <isin value="US202795KB55"/>
          <ticker value="EXC"/>
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        <balance>380000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>387047.95</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHERN CALIFORNIA 5.45%</name>
        <lei>XY0N0J73VHV5F4CUJV89</lei>
        <title>SOUTHERN CALIFORNIA 5.45%</title>
        <cusip>842434DC3</cusip>
        <identifiers>
          <isin value="US842434DC38"/>
          <ticker value="SRE"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>306873.41</valUSD>
        <pctVal>0.0101880143</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.450000000000</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>
        <name>FREDDIE MAC GOLD PO 2.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 2.50%</title>
        <cusip>3132KE6X8</cusip>
        <identifiers>
          <isin value="US3132KE6X83"/>
          <ticker value="FHLMC"/>
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        <balance>36648.46</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35491.89</valUSD>
        <pctVal>0.0011783096</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.50%</title>
        <cusip>31418DN73</cusip>
        <identifiers>
          <isin value="US31418DN731"/>
          <ticker value="FNMA"/>
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        <balance>127177.73</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>119137.49</valUSD>
        <pctVal>0.0039552937</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140XAH47</cusip>
        <identifiers>
          <isin value="US3140XAH474"/>
          <ticker value="FNMA"/>
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        <balance>313919.71</balance>
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        <curCd>USD</curCd>
        <valUSD>256241.84</valUSD>
        <pctVal>0.0085070763</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</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>
        <name>SPIRE MISSOURI INC 3.30%</name>
        <lei>06LJQCOVPRXOPDHFC707</lei>
        <title>SPIRE MISSOURI INC 3.30%</title>
        <cusip>84859DAA5</cusip>
        <identifiers>
          <isin value="US84859DAA54"/>
          <ticker value="SR"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>67964.78</valUSD>
        <pctVal>0.0022563902</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.300000000000</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>CANADIAN NATL. RAIL 4.40%</name>
        <lei>3SU7BEP7TH9YEQOZCS77</lei>
        <title>CANADIAN NATL. RAIL 4.40%</title>
        <cusip>136375DB5</cusip>
        <identifiers>
          <isin value="US136375DB52"/>
          <ticker value="CNRCN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>251814.8</valUSD>
        <pctVal>0.0083601013</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.400000000000</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>LINDE INC/CT 2.00%</name>
        <lei>ZU69GUVJQGZ6Z1UOOO79</lei>
        <title>LINDE INC/CT 2.00%</title>
        <cusip>74005PBS2</cusip>
        <identifiers>
          <isin value="US74005PBS20"/>
          <ticker value="LIN"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>107033.76</valUSD>
        <pctVal>0.0035534570</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMAZON.COM INC 1.65%</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON.COM INC 1.65%</title>
        <cusip>023135BY1</cusip>
        <identifiers>
          <isin value="US023135BY17"/>
          <ticker value="AMZN"/>
        </identifiers>
        <balance>533000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>507693.99</valUSD>
        <pctVal>0.0168551378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IDEX CORP 2.625%</name>
        <lei>549300U5Y5EL6PHYLF13</lei>
        <title>IDEX CORP 2.625%</title>
        <cusip>45167RAH7</cusip>
        <identifiers>
          <isin value="US45167RAH75"/>
          <ticker value="IEX"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>90041.46</valUSD>
        <pctVal>0.0029893228</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.625000000000</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>CDW LLC / CDW FINA 3.276%</name>
        <lei>N/A</lei>
        <title>CDW LLC / CDW FINA 3.276%</title>
        <cusip>12513GBH1</cusip>
        <identifiers>
          <isin value="US12513GBH11"/>
          <ticker value="CDW"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>480435.87</valUSD>
        <pctVal>0.0159501845</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.276000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLOBAL PAYMENTS INC 4.95%</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>GLOBAL PAYMENTS INC 4.95%</title>
        <cusip>37940XAP7</cusip>
        <identifiers>
          <isin value="US37940XAP78"/>
          <ticker value="GPN"/>
        </identifiers>
        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1002030.64</valUSD>
        <pctVal>0.0332668199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY CORP 4.50%</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>DUKE ENERGY CORP 4.50%</title>
        <cusip>26441CBT1</cusip>
        <identifiers>
          <isin value="US26441CBT18"/>
          <ticker value="DUK"/>
        </identifiers>
        <balance>551000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>540244.77</valUSD>
        <pctVal>0.0179358043</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</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>HSBC HOLDINGS PLC F2F</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC F2F</title>
        <cusip>404280DH9</cusip>
        <identifiers>
          <isin value="US404280DH94"/>
          <ticker value="HSBC"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>506439.46</valUSD>
        <pctVal>0.0168134882</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.402000000000</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>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140XAWD0</cusip>
        <identifiers>
          <isin value="US3140XAWD03"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>1069478.93</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>874626.99</valUSD>
        <pctVal>0.0290370947</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMAZON.COM INC 2.875%</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON.COM INC 2.875%</title>
        <cusip>023135CA2</cusip>
        <identifiers>
          <isin value="US023135CA22"/>
          <ticker value="AMZN"/>
        </identifiers>
        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>444324.86</valUSD>
        <pctVal>0.0147513205</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.875000000000</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>T-MOBILE USA INC 4.50%</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 4.50%</title>
        <cusip>87264AAZ8</cusip>
        <identifiers>
          <isin value="US87264AAZ84"/>
          <ticker value="TMUS"/>
        </identifiers>
        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>322865.04</valUSD>
        <pctVal>0.0107189269</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</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>FANNIE MAE POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.50%</title>
        <cusip>31418EHK9</cusip>
        <identifiers>
          <isin value="US31418EHK91"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>4454666.46</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4299801.23</valUSD>
        <pctVal>0.1427508377</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</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>APPLE INC 3.35%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC 3.35%</title>
        <cusip>037833EP1</cusip>
        <identifiers>
          <isin value="US037833EP10"/>
          <ticker value="AAPL"/>
        </identifiers>
        <balance>450000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>425042.31</valUSD>
        <pctVal>0.0141111513</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 3.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 3.50%</title>
        <cusip>36179XDC7</cusip>
        <identifiers>
          <isin value="US36179XDC74"/>
          <ticker value="GNR"/>
        </identifiers>
        <balance>787894.79</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>714111.13</valUSD>
        <pctVal>0.0237080638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</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>MOODY S CORP 4.25%</name>
        <lei>549300GCEDD8YCF5WU84</lei>
        <title>MOODY S CORP 4.25%</title>
        <cusip>615369AZ8</cusip>
        <identifiers>
          <isin value="US615369AZ82"/>
          <ticker value="MCO"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>485344.89</valUSD>
        <pctVal>0.0161131610</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</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>AMERICAN WATER CAP. 3.25%</name>
        <lei>5IDHQUFVC8Q2KIBBFF06</lei>
        <title>AMERICAN WATER CAP. 3.25%</title>
        <cusip>03040WAZ8</cusip>
        <identifiers>
          <isin value="US03040WAZ86"/>
          <ticker value="AWK"/>
        </identifiers>
        <balance>58000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>39094.98</valUSD>
        <pctVal>0.0012979300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</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>AUTOMATIC DATA PROC 1.70%</name>
        <lei>HGBOLILQXWER4SAL2I23</lei>
        <title>AUTOMATIC DATA PROC 1.70%</title>
        <cusip>053015AG8</cusip>
        <identifiers>
          <isin value="US053015AG87"/>
          <ticker value="ADP"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>286231.5</valUSD>
        <pctVal>0.0095027152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.700000000000</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>COMERICA BANK F2F</name>
        <lei>QFROUN1UWUYU0DVIWD51</lei>
        <title>COMERICA BANK F2F</title>
        <cusip>200339EX3</cusip>
        <identifiers>
          <isin value="US200339EX39"/>
          <ticker value="FITB"/>
        </identifiers>
        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249907.66</valUSD>
        <pctVal>0.0082967853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-25</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL HOME LOAN B 3.25%</name>
        <lei>2549001DPIFGXC1TOL40</lei>
        <title>FEDERAL HOME LOAN B 3.25%</title>
        <cusip>3130AFFX0</cusip>
        <identifiers>
          <isin value="US3130AFFX04"/>
          <ticker value="FHLB"/>
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        <balance>1000000</balance>
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        <curCd>USD</curCd>
        <valUSD>979931.36</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 2.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.00%</title>
        <cusip>36179WFF0</cusip>
        <identifiers>
          <isin value="US36179WFF05"/>
          <ticker value="GNR"/>
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        <balance>2265550.58</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1858838.65</valUSD>
        <pctVal>0.0617123351</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMAZON.COM INC 3.10%</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON.COM INC 3.10%</title>
        <cusip>023135CB0</cusip>
        <identifiers>
          <isin value="US023135CB05"/>
          <ticker value="AMZN"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>519623.2</valUSD>
        <pctVal>0.0172511805</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-05-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BENCHMARK 2021-B26 2.613%</name>
        <lei>N/A</lei>
        <title>BENCHMARK 2021-B26 2.613%</title>
        <cusip>08163EBD6</cusip>
        <identifiers>
          <isin value="US08163EBD67"/>
          <ticker value="BMARK"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>178821.94</valUSD>
        <pctVal>0.0059367818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-06-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>2.613000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITEDHEALTH GROUP 2.30%</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GROUP 2.30%</title>
        <cusip>91324PED0</cusip>
        <identifiers>
          <isin value="US91324PED06"/>
          <ticker value="UNH"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179068.84</valUSD>
        <pctVal>0.0059449787</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="134752.040000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY PROGRE 2.387%</name>
        <lei>N/A</lei>
        <title>DUKE ENERGY PROGRE 2.387%</title>
        <cusip>26444BAB0</cusip>
        <identifiers>
          <isin value="US26444BAB09"/>
          <ticker value="DUK"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>42733.93</valUSD>
        <pctVal>0.0014187410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.387000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WILLIAMS COS INC/TH 4.65%</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>WILLIAMS COS INC/TH 4.65%</title>
        <cusip>969457BZ2</cusip>
        <identifiers>
          <isin value="US969457BZ28"/>
          <ticker value="WMB"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>591043.44</valUSD>
        <pctVal>0.0196222899</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EATON CORP 4.70%</name>
        <lei>0NZWDMRCE180888QQE14</lei>
        <title>EATON CORP 4.70%</title>
        <cusip>278062AJ3</cusip>
        <identifiers>
          <isin value="US278062AJ30"/>
          <ticker value="ETN"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89138.66</valUSD>
        <pctVal>0.0029593504</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GS MTGE. SECS. TST. 3.16%</name>
        <lei>N/A</lei>
        <title>GS MTGE. SECS. TST. 3.16%</title>
        <cusip>36257HBP0</cusip>
        <identifiers>
          <isin value="US36257HBP01"/>
          <ticker value="GSMS"/>
        </identifiers>
        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>142488.98</valUSD>
        <pctVal>0.0047305492</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-10</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.160000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HORMEL FOODS CORP 3.05%</name>
        <lei>MSD54751OJP1FS2ND863</lei>
        <title>HORMEL FOODS CORP 3.05%</title>
        <cusip>440452AJ9</cusip>
        <identifiers>
          <isin value="US440452AJ91"/>
          <ticker value="HRL"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65415.44</valUSD>
        <pctVal>0.0021717536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITEDHEALTH GRP. I 3.05%</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GRP. I 3.05%</title>
        <cusip>91324PEE8</cusip>
        <identifiers>
          <isin value="US91324PEE88"/>
          <ticker value="UNH"/>
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        <balance>330000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>248978.65</valUSD>
        <pctVal>0.0082659428</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.050000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>T-MOBILE USA INC 3.875%</name>
        <lei>549300V2JRLO5DIFGE82</lei>
        <title>T-MOBILE USA INC 3.875%</title>
        <cusip>87264ABF1</cusip>
        <identifiers>
          <isin value="US87264ABF12"/>
          <ticker value="TMUS"/>
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        <balance>330000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>319761.89</valUSD>
        <pctVal>0.0106159041</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>INTERSTATE POWER AN 3.10%</name>
        <lei>EF9UQIIO4KY2BWOK3P26</lei>
        <title>INTERSTATE POWER AN 3.10%</title>
        <cusip>461070AT1</cusip>
        <identifiers>
          <isin value="US461070AT14"/>
          <ticker value="LNT"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>192156.35</valUSD>
        <pctVal>0.0063794763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MEXICO GOV. INTL. 4.875%</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEXICO GOV. INTL. 4.875%</title>
        <cusip>91087BAT7</cusip>
        <identifiers>
          <isin value="US91087BAT70"/>
          <ticker value="MEX"/>
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        <balance>257900</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244360.25</valUSD>
        <pctVal>0.0081126146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.875000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ONE GAS INC 4.25%</name>
        <lei>549300HXDWI0LATTX840</lei>
        <title>ONE GAS INC 4.25%</title>
        <cusip>68235PAM0</cusip>
        <identifiers>
          <isin value="US68235PAM05"/>
          <ticker value="OGS"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>146038.5</valUSD>
        <pctVal>0.0048483911</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.50%</title>
        <cusip>31418EHH6</cusip>
        <identifiers>
          <isin value="US31418EHH62"/>
          <ticker value="FNMA"/>
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        <balance>870496.25</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>790303.62</valUSD>
        <pctVal>0.0262376091</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 2.00%</title>
        <cusip>3132D56E7</cusip>
        <identifiers>
          <isin value="US3132D56E74"/>
          <ticker value="FHLMC"/>
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        <balance>561223.99</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>512838.28</valUSD>
        <pctVal>0.0170259252</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GE CAP. FNDG. LLC 4.55%</name>
        <lei>549300XAGH9TOLX5XM67</lei>
        <title>GE CAP. FNDG. LLC 4.55%</title>
        <cusip>36166NAK9</cusip>
        <identifiers>
          <isin value="US36166NAK90"/>
          <ticker value="GE"/>
        </identifiers>
        <balance>700300</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>694670.3</valUSD>
        <pctVal>0.0230626399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.550000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS PLC F2V</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC F2V</title>
        <cusip>06738EBW4</cusip>
        <identifiers>
          <isin value="US06738EBW49"/>
          <ticker value="BACR"/>
        </identifiers>
        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74964.7</valUSD>
        <pctVal>0.0024887834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-11-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.330000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 4.50%</title>
        <cusip>36179XDE3</cusip>
        <identifiers>
          <isin value="US36179XDE31"/>
          <ticker value="GNR"/>
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        <balance>567971.34</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>550200.45</valUSD>
        <pctVal>0.0182663270</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CATERPILLAR FINL. S 3.60%</name>
        <lei>EDBQKYOPJUCJKLOJDE72</lei>
        <title>CATERPILLAR FINL. S 3.60%</title>
        <cusip>14913R3A3</cusip>
        <identifiers>
          <isin value="US14913R3A32"/>
          <ticker value="CAT"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>496581.52</valUSD>
        <pctVal>0.0164862105</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIZENS BANK NA/PROV F2F</name>
        <lei>DRMSV1Q0EKMEXLAU1P80</lei>
        <title>CITIZENS BANK NA/PROV F2F</title>
        <cusip>75524KPG3</cusip>
        <identifiers>
          <isin value="US75524KPG30"/>
          <ticker value="CFG"/>
        </identifiers>
        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>499941.91</valUSD>
        <pctVal>0.0165977734</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.575000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENTERGY LOUISIANA L 4.75%</name>
        <lei>0V5453U14HDZO63CGH17</lei>
        <title>ENTERGY LOUISIANA L 4.75%</title>
        <cusip>29364WBL1</cusip>
        <identifiers>
          <isin value="US29364WBL19"/>
          <ticker value="ETR"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>257861.27</valUSD>
        <pctVal>0.0085608405</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</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>MAREX GRP. PLC 6.404%</name>
        <lei>549300DWX0SVICJAL507</lei>
        <title>MAREX GRP. PLC 6.404%</title>
        <cusip>566539AA0</cusip>
        <identifiers>
          <isin value="US566539AA08"/>
          <ticker value="MARGRO"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>51206.68</valUSD>
        <pctVal>0.0017000313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.404000000000</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>HYATT HOTELS CORP 5.75%</name>
        <lei>T27JQIMTYSH41TCD5186</lei>
        <title>HYATT HOTELS CORP 5.75%</title>
        <cusip>448579AV4</cusip>
        <identifiers>
          <isin value="US448579AV47"/>
          <ticker value="H"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>309333.29</valUSD>
        <pctVal>0.0102696808</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.750000000000</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>XCEL ENERGY INC 5.60%</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>XCEL ENERGY INC 5.60%</title>
        <cusip>98389BBE9</cusip>
        <identifiers>
          <isin value="US98389BBE92"/>
          <ticker value="XEL"/>
        </identifiers>
        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203759.48</valUSD>
        <pctVal>0.0067646933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.600000000000</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>VOLKSWAGEN AUTO LOA 4.50%</name>
        <lei>N/A</lei>
        <title>VOLKSWAGEN AUTO LOA 4.50%</title>
        <cusip>92868MAD1</cusip>
        <identifiers>
          <isin value="US92868MAD11"/>
          <ticker value="VALET"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50101.48</valUSD>
        <pctVal>0.0016633393</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXETER AUTOMOBILE R 4.86%</name>
        <lei>N/A</lei>
        <title>EXETER AUTOMOBILE R 4.86%</title>
        <cusip>30166XAD6</cusip>
        <identifiers>
          <isin value="US30166XAD66"/>
          <ticker value="EART"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50141.16</valUSD>
        <pctVal>0.0016646566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.860000000000</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>VOLKSWAGEN AUTO LEA 4.50%</name>
        <lei>N/A</lei>
        <title>VOLKSWAGEN AUTO LEA 4.50%</title>
        <cusip>92868WAD9</cusip>
        <identifiers>
          <isin value="US92868WAD92"/>
          <ticker value="VWALT"/>
        </identifiers>
        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50091.3</valUSD>
        <pctVal>0.0016630013</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NISOURCE INC 5.35%</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NISOURCE INC 5.35%</title>
        <cusip>65473PAX3</cusip>
        <identifiers>
          <isin value="US65473PAX33"/>
          <ticker value="NI"/>
        </identifiers>
        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>302472.13</valUSD>
        <pctVal>0.0100418944</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="103305.840000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
        <cusip>91282CNM9</cusip>
        <identifiers>
          <isin value="US91282CNM90"/>
          <ticker value="T"/>
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        <balance>5500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5468417.96</valUSD>
        <pctVal>0.1815482166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
        <cusip>91282CNP2</cusip>
        <identifiers>
          <isin value="US91282CNP22"/>
          <ticker value="T"/>
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        <balance>5100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5085457.04</valUSD>
        <pctVal>0.1688341423</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31418FQS9</cusip>
        <identifiers>
          <isin value="US31418FQS91"/>
          <ticker value="FNMA"/>
        </identifiers>
        <balance>430813.47</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>427308.33</valUSD>
        <pctVal>0.0141863818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</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>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>3618N5ZK8</cusip>
        <identifiers>
          <isin value="US3618N5ZK89"/>
          <ticker value="GNR"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WESTLAKE CORP 6.375%</name>
        <lei>GOXNEVUM0LL78B1OS344</lei>
        <title>WESTLAKE CORP 6.375%</title>
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        <curCd>USD</curCd>
        <valUSD>296246.18</valUSD>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137HNWM6</cusip>
        <identifiers>
          <isin value="US3137HNWM69"/>
          <ticker value="FHMS"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>98856.91</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>WELLS FARGO COMMER 5.203%</name>
        <lei>N/A</lei>
        <title>WELLS FARGO COMMER 5.203%</title>
        <cusip>95004XAC7</cusip>
        <identifiers>
          <isin value="US95004XAC74"/>
          <ticker value="WFCM"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>503966.75</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK STATE DOR 5.628%</name>
        <lei>549300C8XO7EXTX2XU71</lei>
        <title>NEW YORK STATE DOR 5.628%</title>
        <cusip>64990FMT8</cusip>
        <identifiers>
          <isin value="US64990FMT83"/>
          <ticker value="NYSHGR"/>
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        <balance>70000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>71101.22</valUSD>
        <pctVal>0.0023605181</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 0.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 0.375%</title>
        <cusip>91282CAD3</cusip>
        <identifiers>
          <isin value="US91282CAD39"/>
          <ticker value="T"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3842031.24</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.125%</title>
        <cusip>91282CCV1</cusip>
        <identifiers>
          <isin value="US91282CCV19"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4687890.6</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.125000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.25%</title>
        <cusip>912810TX6</cusip>
        <identifiers>
          <isin value="US912810TX63"/>
          <ticker value="T"/>
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        <balance>6500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5799726.53</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.25%</title>
        <cusip>91282CKW0</cusip>
        <identifiers>
          <isin value="US91282CKW00"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5007226.55</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>3618N5GN3</cusip>
        <identifiers>
          <isin value="US3618N5GN30"/>
          <ticker value="GNR"/>
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        <balance>288106.53</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>284268.19</valUSD>
        <pctVal>0.0094375345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>ING GROEP NV F2F</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING GROEP NV F2F</title>
        <cusip>456837BS1</cusip>
        <identifiers>
          <isin value="US456837BS18"/>
          <ticker value="INTNED"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203093.89</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.525000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VICI PROPS. LP 5.625%</name>
        <lei>254900X4QE7SGKQLLN38</lei>
        <title>VICI PROPS. LP 5.625%</title>
        <cusip>925650AK9</cusip>
        <identifiers>
          <isin value="US925650AK98"/>
          <ticker value="VICI"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200084.7</valUSD>
        <pctVal>0.0066426928</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY F2F</title>
        <cusip>61747YGA7</cusip>
        <identifiers>
          <isin value="US61747YGA73"/>
          <ticker value="MS"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>307977.37</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-04-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.664000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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        <name>BROWN &amp; BROWN INC 6.25%</name>
        <lei>549300PC8KTJ71XKFY89</lei>
        <title>BROWN &amp; BROWN INC 6.25%</title>
        <cusip>115236AN1</cusip>
        <identifiers>
          <isin value="US115236AN13"/>
          <ticker value="BRO"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201719.14</valUSD>
        <pctVal>0.0066969552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-06-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LLOYDS BANKING GRP. P F2V</name>
        <lei>549300PPXHEU2JF0AM85</lei>
        <title>LLOYDS BANKING GRP. P F2V</title>
        <cusip>539439BE8</cusip>
        <identifiers>
          <isin value="US539439BE84"/>
          <ticker value="LLOYDS"/>
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        <balance>780000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>803740.14</valUSD>
        <pctVal>0.0266836935</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-13</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>TARGET CORP 4.35%</name>
        <lei>8WDDFXB5T1Z6J0XC1L66</lei>
        <title>TARGET CORP 4.35%</title>
        <cusip>87612EBU9</cusip>
        <identifiers>
          <isin value="US87612EBU91"/>
          <ticker value="TGT"/>
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        <balance>250000</balance>
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        <curCd>USD</curCd>
        <valUSD>250100.05</valUSD>
        <pctVal>0.0083031726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIBANK CREDIT CAR 4.49%</name>
        <lei>R8AG6FXVDQAMDKCSJJ64</lei>
        <title>CITIBANK CREDIT CAR 4.49%</title>
        <cusip>17305EHB4</cusip>
        <identifiers>
          <isin value="US17305EHB48"/>
          <ticker value="C"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100100.45</valUSD>
        <pctVal>0.0033232753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.490000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
        <cusip>91282CNN7</cusip>
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          <isin value="US91282CNN73"/>
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        <curCd>USD</curCd>
        <valUSD>4941015.6</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN ELEC. POWER F2V</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
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        <cusip>02557TAE9</cusip>
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          <ticker value="AEP"/>
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        <curCd>USD</curCd>
        <valUSD>497254.9</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2056-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COOPERATIEVE RABOB 3.957%</name>
        <lei>N/A</lei>
        <title>COOPERATIEVE RABOB 3.957%</title>
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          <isin value="US21688ABP66"/>
          <ticker value="RABOBK"/>
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        <curCd>USD</curCd>
        <valUSD>594067.39</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>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EXETER AUTOMOBILE R 4.68%</name>
        <lei>N/A</lei>
        <title>EXETER AUTOMOBILE R 4.68%</title>
        <cusip>30166VAJ7</cusip>
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          <isin value="US30166VAJ70"/>
          <ticker value="EART"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>49677.59</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.50%</title>
        <cusip>91282CPK1</cusip>
        <identifiers>
          <isin value="US91282CPK17"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4924804.7</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MERCK INC 5.50%</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MERCK INC 5.50%</title>
        <cusip>58933YCA1</cusip>
        <identifiers>
          <isin value="US58933YCA10"/>
          <ticker value="MRK"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>395349.23</valUSD>
        <pctVal>0.0131253588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BBCMS MTGE. TST. 5.29694%</name>
        <lei>N/A</lei>
        <title>BBCMS MTGE. TST. 5.29694%</title>
        <cusip>05556YAC6</cusip>
        <identifiers>
          <isin value="US05556YAC66"/>
          <ticker value="BBCMS"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>253709.08</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-12-15</maturityDt>
          <couponKind>Variable</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF NEW YORK MELL F2F</name>
        <lei>WFLLPEPC7FZXENRZV188</lei>
        <title>BANK OF NEW YORK MELL F2F</title>
        <cusip>06406RCG0</cusip>
        <identifiers>
          <isin value="US06406RCG02"/>
          <ticker value="BNY"/>
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        <balance>730000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>719832.37</valUSD>
        <pctVal>0.0238980056</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.026000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.25%</title>
        <cusip>91282CQT1</cusip>
        <identifiers>
          <isin value="US91282CQT17"/>
          <ticker value="T"/>
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        <balance>3000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2988750</valUSD>
        <pctVal>0.0992247184</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE TELEKOM INTL STP</name>
        <lei>529900ERDFHS6C1M4U58</lei>
        <title>DEUTSCHE TELEKOM INTL STP</title>
        <cusip>25156PAC7</cusip>
        <identifiers>
          <isin value="US25156PAC77"/>
          <ticker value="DT"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>450038.18</valUSD>
        <pctVal>0.0149409993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.250000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FEDERAL NATIONAL M 7.125%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FEDERAL NATIONAL M 7.125%</title>
        <cusip>31359MFJ7</cusip>
        <identifiers>
          <isin value="US31359MFJ71"/>
          <ticker value="FNMA"/>
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        <balance>1175000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1286675.21</valUSD>
        <pctVal>0.0427168500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DELL INC 7.10%</name>
        <lei>3E70L4WYANTIWWIPHC81</lei>
        <title>DELL INC 7.10%</title>
        <cusip>247025AE9</cusip>
        <identifiers>
          <isin value="US247025AE93"/>
          <ticker value="DELL"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1044900.53</valUSD>
        <pctVal>0.0346900747</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PHARMACIA LLC STP</name>
        <lei>N/A</lei>
        <title>PHARMACIA LLC STP</title>
        <cusip>71713UAW2</cusip>
        <identifiers>
          <isin value="US71713UAW27"/>
          <ticker value="PFE"/>
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        <balance>125000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>130905.58</valUSD>
        <pctVal>0.0043459872</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.600000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOEING CO/THE 6.625%</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO/THE 6.625%</title>
        <cusip>097023AS4</cusip>
        <identifiers>
          <isin value="US097023AS49"/>
          <ticker value="BA"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>109163.35</valUSD>
        <pctVal>0.0036241581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CONAGRA BRANDS INC 7.00%</name>
        <lei>54930035UDEIH090K650</lei>
        <title>CONAGRA BRANDS INC 7.00%</title>
        <cusip>205887AR3</cusip>
        <identifiers>
          <isin value="US205887AR36"/>
          <ticker value="CAG"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>208809.17</valUSD>
        <pctVal>0.0069323400</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TENNESSEE GAS PIPE 7.625%</name>
        <lei>N/A</lei>
        <title>TENNESSEE GAS PIPE 7.625%</title>
        <cusip>880451AU3</cusip>
        <identifiers>
          <isin value="US880451AU37"/>
          <ticker value="KMI"/>
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        <balance>5000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5860.35</valUSD>
        <pctVal>0.0001945601</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BRITISH TELECOMMUNICA STP</name>
        <lei>549300OWFMSO9NYV4H90</lei>
        <title>BRITISH TELECOMMUNICA STP</title>
        <cusip>111021AE1</cusip>
        <identifiers>
          <isin value="US111021AE12"/>
          <ticker value="BRITEL"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>118170.44</valUSD>
        <pctVal>0.0039231882</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCEDES-BENZ FINAN 8.50%</name>
        <lei>549300423Z16BB673J12</lei>
        <title>MERCEDES-BENZ FINAN 8.50%</title>
        <cusip>233835AQ0</cusip>
        <identifiers>
          <isin value="US233835AQ08"/>
          <ticker value="MBGGR"/>
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        <balance>175000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>200444.44</valUSD>
        <pctVal>0.0066546359</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WESTROCK MWV LLC 7.95%</name>
        <lei>4DL8C98Z5G5IXZLH3578</lei>
        <title>WESTROCK MWV LLC 7.95%</title>
        <cusip>961548AY0</cusip>
        <identifiers>
          <isin value="US961548AY02"/>
          <ticker value="SW"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>112107.35</valUSD>
        <pctVal>0.0037218972</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL HOME LOAN M 6.75%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FEDERAL HOME LOAN M 6.75%</title>
        <cusip>3134A4AA2</cusip>
        <identifiers>
          <isin value="US3134A4AA29"/>
          <ticker value="FHLMC"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>775193.28</valUSD>
        <pctVal>0.0257359548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PROVINCE OF QUEBEC 7.50%</name>
        <lei>549300WN65YFEQH74Y36</lei>
        <title>PROVINCE OF QUEBEC 7.50%</title>
        <cusip>748148QR7</cusip>
        <identifiers>
          <isin value="US748148QR73"/>
          <ticker value="Q"/>
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        <balance>375000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>410542.55</valUSD>
        <pctVal>0.0136297679</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VODAFONE GRP. PLC 7.875%</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>VODAFONE GRP. PLC 7.875%</title>
        <cusip>92857TAH0</cusip>
        <identifiers>
          <isin value="US92857TAH05"/>
          <ticker value="VOD"/>
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        <balance>2000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2206.25</valUSD>
        <pctVal>0.0000732462</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CANADIAN NATURAL RE 7.20%</name>
        <lei>549300T15RIMIKZC5Q38</lei>
        <title>CANADIAN NATURAL RE 7.20%</title>
        <cusip>136385AC5</cusip>
        <identifiers>
          <isin value="US136385AC52"/>
          <ticker value="CNQCN"/>
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        <balance>15000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16584.32</valUSD>
        <pctVal>0.0005505895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.200000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUNCOR ENERGY INC 7.15%</name>
        <lei>894500XO86FKXQGPYV71</lei>
        <title>SUNCOR ENERGY INC 7.15%</title>
        <cusip>867229AC0</cusip>
        <identifiers>
          <isin value="US867229AC03"/>
          <ticker value="SUCN"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>220216.45</valUSD>
        <pctVal>0.0073110549</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ORANGE SA STP</name>
        <lei>969500MCOONR8990S771</lei>
        <title>ORANGE SA STP</title>
        <cusip>35177PAL1</cusip>
        <identifiers>
          <isin value="US35177PAL13"/>
          <ticker value="ORAFP"/>
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        <balance>610000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>712407.29</valUSD>
        <pctVal>0.0236514974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NATIONAL RURAL UTIL 8.00%</name>
        <lei>4NYF266XZC35SCTGX023</lei>
        <title>NATIONAL RURAL UTIL 8.00%</title>
        <cusip>637432CT0</cusip>
        <identifiers>
          <isin value="US637432CT02"/>
          <ticker value="NRUC"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57667.41</valUSD>
        <pctVal>0.0019145236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC 6.625%</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 6.625%</title>
        <cusip>172967BL4</cusip>
        <identifiers>
          <isin value="US172967BL44"/>
          <ticker value="C"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>108781.8</valUSD>
        <pctVal>0.0036114909</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNILEVER CAPITAL C 5.90%</name>
        <lei>MYF1DAS6G5WY7PRWCU78</lei>
        <title>UNILEVER CAPITAL C 5.90%</title>
        <cusip>904764AH0</cusip>
        <identifiers>
          <isin value="US904764AH00"/>
          <ticker value="UNANA"/>
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        <balance>125000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>133540.84</valUSD>
        <pctVal>0.0044334763</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.900000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3138A5TQ5</cusip>
        <identifiers>
          <isin value="US3138A5TQ53"/>
          <ticker value="FNMA"/>
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        <balance>43928.02</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>42595.53</valUSD>
        <pctVal>0.0014141462</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CVS HEALTH CORP 5.30%</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 5.30%</title>
        <cusip>126650CD0</cusip>
        <identifiers>
          <isin value="US126650CD09"/>
          <ticker value="CVS"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>139905.37</valUSD>
        <pctVal>0.0046447749</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-12-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GINNIE MAE II POOL 5.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.00%</title>
        <cusip>3618N5A33</cusip>
        <identifiers>
          <isin value="US3618N5A332"/>
          <ticker value="GNR"/>
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        <balance>1855788.25</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1832037.52</valUSD>
        <pctVal>0.0608225536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORTHWEST NATURAL HLD F2V</name>
        <lei>254900PSJL6ZEC8FR782</lei>
        <title>NORTHWEST NATURAL HLD F2V</title>
        <cusip>66765NAA3</cusip>
        <identifiers>
          <isin value="US66765NAA37"/>
          <ticker value="NWN"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>259308</valUSD>
        <pctVal>0.0086088710</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JANUS HENDERSON US 5.45%</name>
        <lei>8T2ZO87FU1KVPZIG9I59</lei>
        <title>JANUS HENDERSON US 5.45%</title>
        <cusip>47103MAB4</cusip>
        <identifiers>
          <isin value="US47103MAB46"/>
          <ticker value="JHG"/>
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        <balance>30000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>30282.62</valUSD>
        <pctVal>0.0010053649</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-09-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PEX0</cusip>
        <identifiers>
          <isin value="US46647PEX06"/>
          <ticker value="JPM"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>616822.81</valUSD>
        <pctVal>0.0204781496</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.572000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MITSUBISHI UFJ FINL. F2V</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>MITSUBISHI UFJ FINL. F2V</title>
        <cusip>606822DL5</cusip>
        <identifiers>
          <isin value="US606822DL51"/>
          <ticker value="MUFG"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>204750.19</valUSD>
        <pctVal>0.0067975843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.615000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DELTA AIR LINES INC 4.95%</name>
        <lei>Q2CCMS6R0AS67HJMBN42</lei>
        <title>DELTA AIR LINES INC 4.95%</title>
        <cusip>247361A24</cusip>
        <identifiers>
          <isin value="US247361A246"/>
          <ticker value="DAL"/>
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        <balance>520000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>521911.83</valUSD>
        <pctVal>0.0173271616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>31418FR82</cusip>
        <identifiers>
          <isin value="US31418FR828"/>
          <ticker value="FNMA"/>
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        <balance>1400938.37</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1406248.42</valUSD>
        <pctVal>0.0466866093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMERICAN TOWER CORP 4.70%</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>AMERICAN TOWER CORP 4.70%</title>
        <cusip>03027XCR9</cusip>
        <identifiers>
          <isin value="US03027XCR98"/>
          <ticker value="AMT"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>983737.25</valUSD>
        <pctVal>0.0326594903</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CNH EQUIP. TST. 202 4.00%</name>
        <lei>N/A</lei>
        <title>CNH EQUIP. TST. 202 4.00%</title>
        <cusip>189920AD3</cusip>
        <identifiers>
          <isin value="US189920AD37"/>
          <ticker value="CNH"/>
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        <balance>75000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>74131.86</valUSD>
        <pctVal>0.0024611336</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DOMINION ENERGY INC 5.25%</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>DOMINION ENERGY INC 5.25%</title>
        <cusip>257469AJ5</cusip>
        <identifiers>
          <isin value="US257469AJ58"/>
          <ticker value="D"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>252255.04</valUSD>
        <pctVal>0.0083747170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JOHNSON &amp; JOHNSON 4.375%</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>JOHNSON &amp; JOHNSON 4.375%</title>
        <cusip>478160BJ2</cusip>
        <identifiers>
          <isin value="US478160BJ28"/>
          <ticker value="JNJ"/>
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        <balance>332000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>329461.35</valUSD>
        <pctVal>0.0109379204</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-12-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.375000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="330510.350000000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 1.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.75%</title>
        <cusip>912828YS3</cusip>
        <identifiers>
          <isin value="US912828YS30"/>
          <ticker value="T"/>
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        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3237773.42</valUSD>
        <pctVal>0.1074921475</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 1.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.125%</title>
        <cusip>912810SR0</cusip>
        <identifiers>
          <isin value="US912810SR05"/>
          <ticker value="T"/>
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        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2214433.59</valUSD>
        <pctVal>0.0735178752</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PHILIP MORRIS INTL. 4.75%</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTL. 4.75%</title>
        <cusip>718172DP1</cusip>
        <identifiers>
          <isin value="US718172DP15"/>
          <ticker value="PM"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>401305.62</valUSD>
        <pctVal>0.0133231074</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOLDMAN SACHS GRP. IN F2F</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GRP. IN F2F</title>
        <cusip>38141GB86</cusip>
        <identifiers>
          <isin value="US38141GB862"/>
          <ticker value="GS"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>485900.38</valUSD>
        <pctVal>0.0161316030</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.561000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ARTHUR J GALLAGHER 5.15%</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>ARTHUR J GALLAGHER 5.15%</title>
        <cusip>04316JAN9</cusip>
        <identifiers>
          <isin value="US04316JAN90"/>
          <ticker value="AJG"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>297872.9</valUSD>
        <pctVal>0.0098892027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AFRICAN DEV. BANK 4.00%</name>
        <lei>549300LNCLMO3ITVCU07</lei>
        <title>AFRICAN DEV. BANK 4.00%</title>
        <cusip>00828EFF1</cusip>
        <identifiers>
          <isin value="US00828EFF16"/>
          <ticker value="AFDB"/>
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        <balance>800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>793470.19</valUSD>
        <pctVal>0.0263427373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RIO TINTO FIN. USA 5.875%</name>
        <lei>2138006TSNBEUA761G16</lei>
        <title>RIO TINTO FIN. USA 5.875%</title>
        <cusip>76720AAW6</cusip>
        <identifiers>
          <isin value="US76720AAW62"/>
          <ticker value="RIOLN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>305180.26</valUSD>
        <pctVal>0.0101318027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2065-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HPS COR. LENDING FU 5.45%</name>
        <lei>549300ZS7IHUA6FKFV61</lei>
        <title>HPS COR. LENDING FU 5.45%</title>
        <cusip>40440VAH8</cusip>
        <identifiers>
          <isin value="US40440VAH87"/>
          <ticker value="HLEND"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199229.83</valUSD>
        <pctVal>0.0066143116</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="68446.010000000000"/>
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      <invstOrSec>
        <name>WELLS FARGO &amp; CO F2F</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO F2F</title>
        <cusip>95000U3T8</cusip>
        <identifiers>
          <isin value="US95000U3T82"/>
          <ticker value="WFC"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502439.58</valUSD>
        <pctVal>0.0166806946</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.970000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>3140Y6JE1</cusip>
        <identifiers>
          <isin value="US3140Y6JE13"/>
          <ticker value="FNMA"/>
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        <balance>522387.18</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>541850.3</valUSD>
        <pctVal>0.0179891070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORD CREDIT FLOORPL 4.63%</name>
        <lei>5493001DTG5N7T8BG747</lei>
        <title>FORD CREDIT FLOORPL 4.63%</title>
        <cusip>34529BAA4</cusip>
        <identifiers>
          <isin value="US34529BAA44"/>
          <ticker value="FORDF"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100265.2</valUSD>
        <pctVal>0.0033287449</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.630000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AIR PRODS. AND CHEM 4.30%</name>
        <lei>7QEON6Y1RL5XR3R1W237</lei>
        <title>AIR PRODS. AND CHEM 4.30%</title>
        <cusip>009158BN5</cusip>
        <identifiers>
          <isin value="US009158BN52"/>
          <ticker value="APD"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249571.36</valUSD>
        <pctVal>0.0082856204</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EOG RES. INC 5.95%</name>
        <lei>XWTZDRYZPBUHIQBKDB46</lei>
        <title>EOG RES. INC 5.95%</title>
        <cusip>26875PBA8</cusip>
        <identifiers>
          <isin value="US26875PBA84"/>
          <ticker value="EOG"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>153009.4</valUSD>
        <pctVal>0.0050798209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.950000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VERIZON MASTER TRUS 4.40%</name>
        <lei>5493007MUBNP1GFMEB89</lei>
        <title>VERIZON MASTER TRUS 4.40%</title>
        <cusip>92348KEF6</cusip>
        <identifiers>
          <isin value="US92348KEF66"/>
          <ticker value="VZMT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99933.98</valUSD>
        <pctVal>0.0033177486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 5.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 5.50%</title>
        <cusip>3618N5XQ7</cusip>
        <identifiers>
          <isin value="US3618N5XQ77"/>
          <ticker value="GNR"/>
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        <balance>3850035.5</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3872273.96</valUSD>
        <pctVal>0.1285571872</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALPHABET INC 5.70%</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC 5.70%</title>
        <cusip>02079KBB2</cusip>
        <identifiers>
          <isin value="US02079KBB26"/>
          <ticker value="GOOGL"/>
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        <balance>120000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>115186.25</valUSD>
        <pctVal>0.0038241148</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2075-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.700000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.625%</title>
        <cusip>91282CPR6</cusip>
        <identifiers>
          <isin value="US91282CPR69"/>
          <ticker value="T"/>
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        <balance>8000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7811562.48</valUSD>
        <pctVal>0.2593392179</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 1.25%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 1.25%</title>
        <cusip>912810SN9</cusip>
        <identifiers>
          <isin value="US912810SN90"/>
          <ticker value="T"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2855156.28</valUSD>
        <pctVal>0.0947894865</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BBCMS MTGE. TST. 2 5.532%</name>
        <lei>N/A</lei>
        <title>BBCMS MTGE. TST. 2 5.532%</title>
        <cusip>05493YAE8</cusip>
        <identifiers>
          <isin value="US05493YAE86"/>
          <ticker value="BBCMS"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>205734.68</valUSD>
        <pctVal>0.0068302687</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.532000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FIRST NATL. MASTER 4.85%</name>
        <lei>N/A</lei>
        <title>FIRST NATL. MASTER 4.85%</title>
        <cusip>32113CCE8</cusip>
        <identifiers>
          <isin value="US32113CCE84"/>
          <ticker value="FNMNT"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100637.02</valUSD>
        <pctVal>0.0033410891</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK 2025-BNK49 VAR</name>
        <lei>N/A</lei>
        <title>BANK 2025-BNK49 VAR</title>
        <cusip>05494FBT4</cusip>
        <identifiers>
          <isin value="US05494FBT49"/>
          <ticker value="BANK"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>207543.32</valUSD>
        <pctVal>0.0068903145</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-03-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.623000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NISOURCE INC 5.85%</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NISOURCE INC 5.85%</title>
        <cusip>65473PAU9</cusip>
        <identifiers>
          <isin value="US65473PAU93"/>
          <ticker value="NI"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99159.92</valUSD>
        <pctVal>0.0032920502</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.850000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
        <cusip>3132DVHR9</cusip>
        <identifiers>
          <isin value="US3132DVHR96"/>
          <ticker value="FHLMC"/>
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        <balance>884446.03</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>879300.93</valUSD>
        <pctVal>0.0291922667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DELL INTL. LLC / EM 5.00%</name>
        <lei>N/A</lei>
        <title>DELL INTL. LLC / EM 5.00%</title>
        <cusip>24703TAM8</cusip>
        <identifiers>
          <isin value="US24703TAM80"/>
          <ticker value="DELL"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>504227.13</valUSD>
        <pctVal>0.0167400401</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DRIVE AUTO RECEIVAB 4.99%</name>
        <lei>N/A</lei>
        <title>DRIVE AUTO RECEIVAB 4.99%</title>
        <cusip>262102AE6</cusip>
        <identifiers>
          <isin value="US262102AE64"/>
          <ticker value="DRIVE"/>
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        <balance>25000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25075.95</valUSD>
        <pctVal>0.0008325066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.990000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.75%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.75%</title>
        <cusip>91282CNL1</cusip>
        <identifiers>
          <isin value="US91282CNL18"/>
          <ticker value="T"/>
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        <balance>6000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5978953.14</valUSD>
        <pctVal>0.1984976802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.750000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>91282CNR8</cusip>
        <identifiers>
          <isin value="US91282CNR87"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4927734.4</valUSD>
        <pctVal>0.1635978447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 3.50%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.50%</title>
        <cusip>91282CPP0</cusip>
        <identifiers>
          <isin value="US91282CPP04"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4922656.25</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.500000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EXETER AUTOMOBILE R 4.03%</name>
        <lei>N/A</lei>
        <title>EXETER AUTOMOBILE R 4.03%</title>
        <cusip>30168HAC1</cusip>
        <identifiers>
          <isin value="US30168HAC16"/>
          <ticker value="EART"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99592.78</valUSD>
        <pctVal>0.0033064209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.030000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TSY. 2.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 2.375%</title>
        <cusip>912810SK5</cusip>
        <identifiers>
          <isin value="US912810SK51"/>
          <ticker value="T"/>
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        <balance>3500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2229199.21</valUSD>
        <pctVal>0.0740080849</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.375000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 0.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 0.625%</title>
        <cusip>912828ZQ6</cusip>
        <identifiers>
          <isin value="US912828ZQ64"/>
          <ticker value="T"/>
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        <balance>6540000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5714069.55</valUSD>
        <pctVal>0.1897037029</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.625000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MARSH &amp; MCLENNAN CO 5.40%</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>MARSH &amp; MCLENNAN CO 5.40%</title>
        <cusip>571748CD2</cusip>
        <identifiers>
          <isin value="US571748CD26"/>
          <ticker value="MRSH"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>283550.68</valUSD>
        <pctVal>0.0094137136</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.400000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>M&amp;T BANK CORP F2F</name>
        <lei>549300WYXDDBYRASEG81</lei>
        <title>M&amp;T BANK CORP F2F</title>
        <cusip>55261FAV6</cusip>
        <identifiers>
          <isin value="US55261FAV67"/>
          <ticker value="MTB"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>299833.62</valUSD>
        <pctVal>0.0099542975</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.385000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EUROPEAN INV. BANK 3.875%</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>EUROPEAN INV. BANK 3.875%</title>
        <cusip>298785KJ4</cusip>
        <identifiers>
          <isin value="US298785KJ40"/>
          <ticker value="EIB"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>497241.03</valUSD>
        <pctVal>0.0165081058</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EDISON INTERNATIONA 6.25%</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>EDISON INTERNATIONA 6.25%</title>
        <cusip>281020BC0</cusip>
        <identifiers>
          <isin value="US281020BC07"/>
          <ticker value="EIX"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>256791.06</valUSD>
        <pctVal>0.0085253101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.250000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FORD CREDIT AUTO OW 4.45%</name>
        <lei>N/A</lei>
        <title>FORD CREDIT AUTO OW 4.45%</title>
        <cusip>34535KAD0</cusip>
        <identifiers>
          <isin value="US34535KAD00"/>
          <ticker value="FORDO"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50072.26</valUSD>
        <pctVal>0.0016623692</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.450000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VERIZON MASTER TRUS 4.51%</name>
        <lei>5493007MUBNP1GFMEB89</lei>
        <title>VERIZON MASTER TRUS 4.51%</title>
        <cusip>92348KDY6</cusip>
        <identifiers>
          <isin value="US92348KDY64"/>
          <ticker value="VZMT"/>
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        <balance>50000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>50084.75</valUSD>
        <pctVal>0.0016627838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.510000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DIAGEO INV. CORP 5.625%</name>
        <lei>S4G8DPIPDVCF6CB81Z61</lei>
        <title>DIAGEO INV. CORP 5.625%</title>
        <cusip>25245BAE7</cusip>
        <identifiers>
          <isin value="US25245BAE74"/>
          <ticker value="DGELN"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>310226.39</valUSD>
        <pctVal>0.0102993312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.625000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DIAGEO INV. CORP 5.125%</name>
        <lei>S4G8DPIPDVCF6CB81Z61</lei>
        <title>DIAGEO INV. CORP 5.125%</title>
        <cusip>25245BAC1</cusip>
        <identifiers>
          <isin value="US25245BAC19"/>
          <ticker value="DGELN"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>203217.41</valUSD>
        <pctVal>0.0067466969</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
        <cusip>3140Y6DG2</cusip>
        <identifiers>
          <isin value="US3140Y6DG25"/>
          <ticker value="FNMA"/>
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        <balance>2163658.58</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2188221.02</valUSD>
        <pctVal>0.0726476335</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PEY8</cusip>
        <identifiers>
          <isin value="US46647PEY88"/>
          <ticker value="JPM"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>505645.72</valUSD>
        <pctVal>0.0167871365</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.103000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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      <invstOrSec>
        <name>UNITED STATES TSY. 5.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 5.00%</title>
        <cusip>912810UL0</cusip>
        <identifiers>
          <isin value="US912810UL07"/>
          <ticker value="T"/>
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        <balance>4000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4034062.48</valUSD>
        <pctVal>0.1339284696</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.125%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.125%</title>
        <cusip>91282CNF4</cusip>
        <identifiers>
          <isin value="US91282CNF40"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4964257.8</valUSD>
        <pctVal>0.1648103998</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.125000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ONEOK INC 5.45%</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK INC 5.45%</title>
        <cusip>682680DA8</cusip>
        <identifiers>
          <isin value="US682680DA80"/>
          <ticker value="OKE"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ANALOG DEVICES INC 4.50%</name>
        <lei>GYVOE5EZ4GDAVTU4CQ61</lei>
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        <cusip>032654BE4</cusip>
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          <ticker value="ADI"/>
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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>2030-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FORD CREDIT AUTO OW 3.91%</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
        <valUSD>99239.86</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>LOWE S COS INC 4.85%</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>LOWE S COS INC 4.85%</title>
        <cusip>548661EX1</cusip>
        <identifiers>
          <isin value="US548661EX13"/>
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        <balance>1170000</balance>
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        <curCd>USD</curCd>
        <valUSD>1141208.25</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NOVARTIS CAP. CORP 5.20%</name>
        <lei>5493002KF87V5RSRQS84</lei>
        <title>NOVARTIS CAP. CORP 5.20%</title>
        <cusip>66989HBB3</cusip>
        <identifiers>
          <isin value="US66989HBB33"/>
          <ticker value="NOVNVX"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>385910.36</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-11-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FREDDIE MAC MULTIFAMI VAR</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC MULTIFAMI VAR</title>
        <cusip>3137HPUA9</cusip>
        <identifiers>
          <isin value="US3137HPUA97"/>
          <ticker value="FHLMC"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>197720.8</valUSD>
        <pctVal>0.0065642127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-12-25</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.220000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 5.00%</title>
        <cusip>3142JCBY5</cusip>
        <identifiers>
          <isin value="US3142JCBY56"/>
          <ticker value="FHLMC"/>
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        <balance>545117.43</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>547675.72</valUSD>
        <pctVal>0.0181825074</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TRUIST BANK F2F</name>
        <lei>JJKC32MCHWDI71265Z06</lei>
        <title>TRUIST BANK F2F</title>
        <cusip>89788JAJ8</cusip>
        <identifiers>
          <isin value="US89788JAJ88"/>
          <ticker value="TFC"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>695250.09</valUSD>
        <pctVal>0.0230818885</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.144000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VIRGINIA ELEC. AND 4.65%</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>VIRGINIA ELEC. AND 4.65%</title>
        <cusip>927804FP4</cusip>
        <identifiers>
          <isin value="US927804FP40"/>
          <ticker value="D"/>
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        <balance>150000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>133064.06</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.650000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.00%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 4.00%</title>
        <cusip>91282CJX0</cusip>
        <identifiers>
          <isin value="US91282CJX02"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4956640.6</valUSD>
        <pctVal>0.1645575133</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.000000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MARTIN MARIETTA MAT 5.50%</name>
        <lei>5299005MZ4WZECVATV08</lei>
        <title>MARTIN MARIETTA MAT 5.50%</title>
        <cusip>573284BB1</cusip>
        <identifiers>
          <isin value="US573284BB17"/>
          <ticker value="MLM"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>191308.72</valUSD>
        <pctVal>0.0063513355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JOHN DEERE CAP. COR 4.65%</name>
        <lei>E0KSF7PFQ210NWI8Z391</lei>
        <title>JOHN DEERE CAP. COR 4.65%</title>
        <cusip>24422EXZ7</cusip>
        <identifiers>
          <isin value="US24422EXZ77"/>
          <ticker value="DE"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>402216.89</valUSD>
        <pctVal>0.0133533610</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-01-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ING GROEP NV F2F</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING GROEP NV F2F</title>
        <cusip>456837BQ5</cusip>
        <identifiers>
          <isin value="US456837BQ51"/>
          <ticker value="INTNED"/>
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        <balance>700000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>702711.47</valUSD>
        <pctVal>0.0233296019</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.858000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>TARGET CORP 5.00%</name>
        <lei>8WDDFXB5T1Z6J0XC1L66</lei>
        <title>TARGET CORP 5.00%</title>
        <cusip>87612EBT2</cusip>
        <identifiers>
          <isin value="US87612EBT29"/>
          <ticker value="TGT"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>300171.66</valUSD>
        <pctVal>0.0099655202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PAYCHEX INC 5.35%</name>
        <lei>529900K900DW6SUBM174</lei>
        <title>PAYCHEX INC 5.35%</title>
        <cusip>704326AB3</cusip>
        <identifiers>
          <isin value="US704326AB35"/>
          <ticker value="PAYX"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>404765.45</valUSD>
        <pctVal>0.0134379717</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.350000000000</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>
        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31418FKZ9</cusip>
        <identifiers>
          <isin value="US31418FKZ98"/>
          <ticker value="FNMA"/>
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        <balance>416033.88</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>417986.36</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EOG RES. INC 5.35%</name>
        <lei>XWTZDRYZPBUHIQBKDB46</lei>
        <title>EOG RES. INC 5.35%</title>
        <cusip>26875PAZ4</cusip>
        <identifiers>
          <isin value="US26875PAZ45"/>
          <ticker value="EOG"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>252681.02</valUSD>
        <pctVal>0.0083888592</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.350000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENTERPRISE PRODS. O 5.20%</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>ENTERPRISE PRODS. O 5.20%</title>
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      <invstOrSec>
        <name>LOWE S COS INC 4.00%</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>UNITED STATES TSY. 4.625%</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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      <invstOrSec>
        <name>UNITED STATES TSY. 3.375%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.375%</title>
        <cusip>91282CPS4</cusip>
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          <isin value="US91282CPS43"/>
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        <curCd>USD</curCd>
        <valUSD>6919882.83</valUSD>
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        <issuerCat>UST</issuerCat>
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        <name>UNITED STATES TSY. 3.875%</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TSY. 3.875%</title>
        <cusip>91282CPQ8</cusip>
        <identifiers>
          <isin value="US91282CPQ86"/>
          <ticker value="T"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4882421.9</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO F2F</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO F2F</title>
        <cusip>46647PFJ0</cusip>
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          <isin value="US46647PFJ03"/>
          <ticker value="JPM"/>
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        <balance>880000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>856930.09</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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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.898000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREDDIE MAC GOLD PO 6.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 6.00%</title>
        <cusip>3128M5XV7</cusip>
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          <isin value="US3128M5XV72"/>
          <ticker value="FHLMC"/>
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        <balance>9976.64</balance>
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        <curCd>USD</curCd>
        <valUSD>10450.7</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
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      <invstOrSec>
        <name>AUSTRALIA &amp; NEW ZE 4.615%</name>
        <lei>N/A</lei>
        <title>AUSTRALIA &amp; NEW ZE 4.615%</title>
        <cusip>05253JB59</cusip>
        <identifiers>
          <isin value="US05253JB595"/>
          <ticker value="ANZ"/>
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        <balance>350000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>352531.71</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>Fixed</couponKind>
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        <name>BOEING CO/THE 6.528%</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO/THE 6.528%</title>
        <cusip>097023DS1</cusip>
        <identifiers>
          <isin value="US097023DS12"/>
          <ticker value="BA"/>
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        <balance>400000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>435165.6</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>Fixed</couponKind>
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        <name>CANADIAN PACIFIC RA 4.80%</name>
        <lei>54930036474DURYNB481</lei>
        <title>CANADIAN PACIFIC RA 4.80%</title>
        <cusip>13645RBJ2</cusip>
        <identifiers>
          <isin value="US13645RBJ23"/>
          <ticker value="CP"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>603009.31</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>RELX CAP. INC 4.75%</name>
        <lei>2R15C3RTKJN1RCBOV146</lei>
        <title>RELX CAP. INC 4.75%</title>
        <cusip>74949LAF9</cusip>
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        <curCd>USD</curCd>
        <valUSD>300505.94</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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        <name>FANNIE MAE POOL 5.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.00%</title>
        <cusip>31418FKM8</cusip>
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          <isin value="US31418FKM85"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>3559244.61</valUSD>
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        <name>UNITEDHEALTH GRP. I 5.95%</name>
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        <cusip>91324PFR8</cusip>
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        <name>UNITEDHEALTH GRP. I 4.65%</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GRP. I 4.65%</title>
        <cusip>91324PFP2</cusip>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CITIBANK CREDIT CAR 4.30%</name>
        <lei>R8AG6FXVDQAMDKCSJJ64</lei>
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          <ticker value="C"/>
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        <balance>150000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.300000000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BURLINGTON NORTHERN 5.55%</name>
        <lei>N/A</lei>
        <title>BURLINGTON NORTHERN 5.55%</title>
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          <isin value="US12189LBN01"/>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
        <valUSD>391741.99</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>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.50%</name>
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        <name>FANNIE MAE POOL 4.00%</name>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
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      <invstOrSec>
        <name>FREDDIE MAC POOL 2.00%</name>
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        <name>GINNIE MAE II POOL 2.50%</name>
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      <invstOrSec>
        <name>ABBVIE INC 4.25%</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RTX CORP 4.80%</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>RTX CORP 4.80%</title>
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        <identifiers>
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        <balance>400000</balance>
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        <curCd>USD</curCd>
        <valUSD>363646.03</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>APPLE INC 1.65%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC 1.65%</title>
        <cusip>037833ED8</cusip>
        <identifiers>
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          <ticker value="AAPL"/>
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        <balance>670000</balance>
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        <curCd>USD</curCd>
        <valUSD>594946.22</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>BP CAP. MKTS. AMER 3.379%</name>
        <lei>5493009NTB34VXE1T760</lei>
        <title>BP CAP. MKTS. AMER 3.379%</title>
        <cusip>10373QBQ2</cusip>
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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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        <name>WESTPAC BANKING COR 5.05%</name>
        <lei>EN5TNI6CI43VEPAMHL14</lei>
        <title>WESTPAC BANKING COR 5.05%</title>
        <cusip>961214FT5</cusip>
        <identifiers>
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          <ticker value="WSTP"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>508669.45</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>UNITED PARCEL SERV. 5.60%</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>UNITED PARCEL SERV. 5.60%</title>
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          <ticker value="UPS"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>192617.03</valUSD>
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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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        <name>CRH SMW FIN. DAC 5.20%</name>
        <lei>54930044475SH442C864</lei>
        <title>CRH SMW FIN. DAC 5.20%</title>
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          <ticker value="CRHID"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>202833.22</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>FLORIDA POWER &amp; LIG 5.60%</name>
        <lei>A89MY1K3YLIGJMYWVX50</lei>
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          <ticker value="NEE"/>
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        <curCd>USD</curCd>
        <valUSD>294314.59</valUSD>
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        <name>GINNIE MAE I POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <curCd>USD</curCd>
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        <name>GINNIE MAE II POOL 4.50%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <valUSD>280389.2</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>3133KHGT7</cusip>
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          <ticker value="FHLMC"/>
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        <balance>190937.36</balance>
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        <curCd>USD</curCd>
        <valUSD>175049.39</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GINNIE MAE II POOL 2.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE II POOL 2.00%</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31418DV25</cusip>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY F2F</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
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        <cusip>6174468X0</cusip>
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          <ticker value="MS"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALTRIA GRP. INC 2.45%</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>ALTRIA GRP. INC 2.45%</title>
        <cusip>02209SBL6</cusip>
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          <ticker value="MO"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHASE ISSUANCE TRUS 4.63%</name>
        <lei>5493008SHVCX2Y068L12</lei>
        <title>CHASE ISSUANCE TRUS 4.63%</title>
        <cusip>161571HW7</cusip>
        <identifiers>
          <isin value="US161571HW79"/>
          <ticker value="CHAIT"/>
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        <balance>100000</balance>
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        <curCd>USD</curCd>
        <valUSD>100654.5</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-01-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LOCKHEED MARTIN COR 5.20%</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>LOCKHEED MARTIN COR 5.20%</title>
        <cusip>539830CE7</cusip>
        <identifiers>
          <isin value="US539830CE70"/>
          <ticker value="LMT"/>
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        <balance>200000</balance>
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        <curCd>USD</curCd>
        <valUSD>183847.57</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>2064-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHARTER COMMS. OPER 6.10%</name>
        <lei>N/A</lei>
        <title>CHARTER COMMS. OPER 6.10%</title>
        <cusip>161175CQ5</cusip>
        <identifiers>
          <isin value="US161175CQ56"/>
          <ticker value="CHTR"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>512211.71</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PHILLIPS EDISON GRO 5.75%</name>
        <lei>549300WUPIVS6ZE0ZI51</lei>
        <title>PHILLIPS EDISON GRO 5.75%</title>
        <cusip>71845JAB4</cusip>
        <identifiers>
          <isin value="US71845JAB44"/>
          <ticker value="PECO"/>
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        <balance>100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>103272.58</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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        <name>BP CAP. MKTS. AMER 5.227%</name>
        <lei>5493009NTB34VXE1T760</lei>
        <title>BP CAP. MKTS. AMER 5.227%</title>
        <cusip>10373QCA6</cusip>
        <identifiers>
          <isin value="US10373QCA67"/>
          <ticker value="BPLN"/>
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        <balance>800000</balance>
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        <curCd>USD</curCd>
        <valUSD>810487.83</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-11-17</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PAYPAL HLDGS. INC 5.15%</name>
        <lei>5493005X2GO78EFZ3E94</lei>
        <title>PAYPAL HLDGS. INC 5.15%</title>
        <cusip>70450YAP8</cusip>
        <identifiers>
          <isin value="US70450YAP88"/>
          <ticker value="PYPL"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>497330.34</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
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      <invstOrSec>
        <name>SYNOPSYS INC 5.15%</name>
        <lei>QG7T915N9S0NY5UKNE63</lei>
        <title>SYNOPSYS INC 5.15%</title>
        <cusip>871607AE7</cusip>
        <identifiers>
          <isin value="US871607AE70"/>
          <ticker value="SNPS"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>497142.69</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.150000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GEORGIA POWER CO 4.85%</name>
        <lei>D981X4Z4RWS7PDMJUZ03</lei>
        <title>GEORGIA POWER CO 4.85%</title>
        <cusip>373334LA7</cusip>
        <identifiers>
          <isin value="US373334LA78"/>
          <ticker value="SO"/>
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        <balance>300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>301889.11</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.850000000000</annualizedRt>
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        <name>REPUBLIC SERVS. INC 2.30%</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
        <title>REPUBLIC SERVS. INC 2.30%</title>
        <cusip>760759AV2</cusip>
        <identifiers>
          <isin value="US760759AV21"/>
          <ticker value="RSG"/>
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        <balance>118000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>108981.1</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.300000000000</annualizedRt>
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      <invstOrSec>
        <name>OWENS CORNING 3.875%</name>
        <lei>JO5M6676RDJIZ2U8X907</lei>
        <title>OWENS CORNING 3.875%</title>
        <cusip>690742AK7</cusip>
        <identifiers>
          <isin value="US690742AK72"/>
          <ticker value="OC"/>
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        <balance>500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>483632.12</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.875000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>FREDDIE MAC POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 2.50%</title>
        <cusip>3133KJJC7</cusip>
        <identifiers>
          <isin value="US3133KJJC71"/>
          <ticker value="FHLMC"/>
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        <balance>430586.87</balance>
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        <curCd>USD</curCd>
        <valUSD>364917.05</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.500000000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>CARRIER GBL. CORP 2.722%</name>
        <lei>549300JE3W6CWY2NAN77</lei>
        <title>CARRIER GBL. CORP 2.722%</title>
        <cusip>14448CAQ7</cusip>
        <identifiers>
          <isin value="US14448CAQ78"/>
          <ticker value="CARR"/>
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        <balance>1000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>935022.83</valUSD>
        <pctVal>0.0310422006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.722000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BENCHMARK 2021-B23 2.07%</name>
        <lei>N/A</lei>
        <title>BENCHMARK 2021-B23 2.07%</title>
        <cusip>08162RAD9</cusip>
        <identifiers>
          <isin value="US08162RAD98"/>
          <ticker value="BMARK"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>175844.48</valUSD>
        <pctVal>0.0058379319</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.070000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
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        <name>GINNIE MAE II POOL 2.50%</name>
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        <name>KRAFT HEINZ FOODS 4.875%</name>
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        <name>KLA CORP 4.70%</name>
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        <name>GINNIE MAE II POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <name>ESTEE LAUDER COS IN 6.00%</name>
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        <name>FANNIE MAE POOL 5.50%</name>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>31418DV74</cusip>
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          <isin value="US31418DV742"/>
          <ticker value="FNMA"/>
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        <valUSD>2842276.56</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TJX COS INC/THE 1.15%</name>
        <lei>V167QI9I69W364E2DY52</lei>
        <title>TJX COS INC/THE 1.15%</title>
        <cusip>872540AV1</cusip>
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          <ticker value="TJX"/>
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        <curCd>USD</curCd>
        <valUSD>69854.16</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANK 2021-BNK31 2.036%</name>
        <lei>N/A</lei>
        <title>BANK 2021-BNK31 2.036%</title>
        <cusip>06541ABG4</cusip>
        <identifiers>
          <isin value="US06541ABG40"/>
          <ticker value="BANK"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>176885</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2054-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ALIBABA GRP. HLDG. 3.25%</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>ALIBABA GRP. HLDG. 3.25%</title>
        <cusip>01609WBA9</cusip>
        <identifiers>
          <isin value="US01609WBA99"/>
          <ticker value="BABA"/>
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        <balance>200000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>127501.11</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2061-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 2.00%</title>
        <cusip>3140X9X59</cusip>
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          <isin value="US3140X9X596"/>
          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 3.50%</title>
        <cusip>3133KN3E1</cusip>
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          <ticker value="FHLMC"/>
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        <curCd>USD</curCd>
        <valUSD>655092.76</valUSD>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>REALTY INC. CORP 2.10%</name>
        <lei>549300CUWDAUZSH43859</lei>
        <title>REALTY INC. CORP 2.10%</title>
        <cusip>756109CA0</cusip>
        <identifiers>
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          <ticker value="O"/>
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        <balance>600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>576541.94</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.100000000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>JOHNSON &amp; JOHNSON 4.90%</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>JOHNSON &amp; JOHNSON 4.90%</title>
        <cusip>478160CV4</cusip>
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          <ticker value="JNJ"/>
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        <balance>500000</balance>
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        <curCd>USD</curCd>
        <valUSD>511158.39</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.900000000000</annualizedRt>
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      <invstOrSec>
        <name>NORTHERN STATES POW 5.65%</name>
        <lei>OOVRSRHKQSBLKRB7QM17</lei>
        <title>NORTHERN STATES POW 5.65%</title>
        <cusip>665789BC6</cusip>
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          <ticker value="XEL"/>
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        <curCd>USD</curCd>
        <valUSD>394594.6</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 6.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 6.00%</title>
        <cusip>31413JYM0</cusip>
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          <ticker value="FNMA"/>
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        <curCd>USD</curCd>
        <valUSD>16398.53</valUSD>
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        <issuerCat>USGSE</issuerCat>
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        <name>FANNIE MAE POOL 5.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 5.50%</title>
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          <ticker value="FNMA"/>
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          <couponKind>Fixed</couponKind>
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        <name>FREDDIE MAC GOLD PO 5.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FREDDIE MAC GOLD PO 5.00%</title>
        <cusip>31296SQS8</cusip>
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          <isin value="US31296SQS85"/>
          <ticker value="FHLMC"/>
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        <balance>15369.32</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15421.86</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>GINNIE MAE I POOL 6.00%</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GINNIE MAE I POOL 6.00%</title>
        <cusip>36241LEC6</cusip>
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        <valUSD>9745.44</valUSD>
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        <name>GINNIE MAE I POOL 3.00%</name>
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        <name>FREDDIE MAC GOLD PO 3.00%</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
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      <invstOrSec>
        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 3.00%</title>
        <cusip>3138WDAA9</cusip>
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        <valUSD>193327.02</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE POOL 4.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE POOL 4.00%</title>
        <cusip>3138WFJL1</cusip>
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          <ticker value="FNMA"/>
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        <name>FANNIE MAE POOL 2.50%</name>
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        <name>FANNIE MAE POOL 3.00%</name>
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      <invstOrSec>
        <name>ABBVIE INC 4.05%</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
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        <name>FREDDIE MAC POOL 2.00%</name>
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        <name>AMERICAN TOWER CORP 2.95%</name>
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        <name>FANNIE MAE POOL 2.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FANNIE MAE POOL 2.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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          <couponKind>Fixed</couponKind>
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        <name>ALIBABA GROUP HOLDI 3.15%</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>ALIBABA GROUP HOLDI 3.15%</title>
        <cusip>01609WAZ5</cusip>
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          <ticker value="BABA"/>
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        <balance>250000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>167591.64</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JOHNSON &amp; JOHNSON 5.25%</name>
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        <cusip>478160CX0</cusip>
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          <ticker value="JNJ"/>
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        <units>PA</units>
        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <name>JOHNSON &amp; JOHNSON 4.80%</name>
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        <cusip>478160CU6</cusip>
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        <name>ALLEGION US HLDG. C 5.60%</name>
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        <name>AMERICAN HONDA FIN. 4.80%</name>
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          <ticker value="HNDA"/>
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        <name>GINNIE MAE I POOL 5.50%</name>
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        <name>FREDDIE MAC GOLD PO 4.50%</name>
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        <name>FANNIE MAE POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FANNIE MAE POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <valUSD>196295.81</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>FANNIE MAE POOL 3.00%</name>
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        <name>FREDDIE MAC POOL 2.50%</name>
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        <name>FANNIE MAE POOL 3.00%</name>
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        <name>FANNIE MAE POOL 2.50%</name>
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        <name>FANNIE MAE POOL 4.00%</name>
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        <name>ABBVIE INC 4.85%</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
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        <name>RTX CORP 4.35%</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
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        <name>CHILE GOV. INTL. BO 3.10%</name>
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        <name>APPLE INC 2.375%</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
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        <name>FREDDIE MAC GOLD PO 5.00%</name>
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        <name>FANNIE MAE POOL 4.50%</name>
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        <name>COCA-COLA CONS. INC 5.45%</name>
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        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FREDDIE MAC POOL 3.50%</name>
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        <name>FREDDIE MAC POOL 3.00%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FREDDIE MAC POOL 3.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <name>FREDDIE MAC POOL 3.00%</name>
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        <name>GINNIE MAE II POOL 4.50%</name>
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        <name>FREDDIE MAC POOL 4.50%</name>
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        <name>FREDDIE MAC POOL 3.50%</name>
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        <name>FREDDIE MAC POOL 3.50%</name>
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        <name>ENTERPRISE PRODS. O 4.80%</name>
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        <name>ZOETIS INC 4.45%</name>
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        <name>CITIBANK CREDIT CAR 3.96%</name>
        <lei>R8AG6FXVDQAMDKCSJJ64</lei>
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        <name>FREDDIE MAC POOL 4.50%</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FREDDIE MAC POOL 4.50%</title>
        <cusip>3132A4SQ2</cusip>
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</edgarSubmission>
