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        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ANTHEM, INC.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>ANTHEM INC</title>
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        <valUSD>2266650.54000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>AT&amp;T INC.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC</title>
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          <isin value="US00206RDQ20"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>BRISTOL-MYERS SQUIBB COMPANY</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>BRISTOL-MYERS SQUIBB CO</title>
        <cusip>110122AB4</cusip>
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          <isin value="US110122AB49"/>
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        <balance>823000.00000000</balance>
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        <valUSD>1055592.97000000</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>2026-11-15</maturityDt>
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          <annualizedRt>6.80000000</annualizedRt>
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        <name>Northrop Grumman Corporation</name>
        <lei>RIMU48P07456QXSO0R61</lei>
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        <balance>1075000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-10-15</maturityDt>
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          <annualizedRt>4.03000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EATON CORPORATION</name>
        <lei>0NZWDMRCE180888QQE14</lei>
        <title>EATON CORP</title>
        <cusip>278062AG9</cusip>
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        <balance>569000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>618536.00000000</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>2027-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10300000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>E. I. DU PONT DE NEMOURS AND COMPANY</name>
        <lei>GLU7INWNWH88J9XBXD45</lei>
        <title>E.I DU PONT DE NEMOURS</title>
        <cusip>263534CP2</cusip>
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          <isin value="US263534CP24"/>
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        <balance>685000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>701429.04000000</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>2030-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.30000000</annualizedRt>
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      <invstOrSec>
        <name>APPLE INC.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC</title>
        <cusip>037833BX7</cusip>
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          <isin value="US037833BX70"/>
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        <balance>1390000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1843684.88000000</valUSD>
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        <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>4.65000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>THE GOLDMAN SACHS GROUP, INC.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC</title>
        <cusip>38141GWL4</cusip>
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          <isin value="US38141GWL49"/>
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        <balance>3685000.00000000</balance>
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        <valUSD>4059241.23000000</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>2028-06-05</maturityDt>
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          <annualizedRt>3.69100000</annualizedRt>
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        <name>JPMORGAN CHASE &amp; CO.</name>
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        <title>BANK ONE CORP.</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-29</maturityDt>
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          <annualizedRt>8.00000000</annualizedRt>
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        <name>ANHEUSER-BUSCH INBEV WORLDWIDE INC.</name>
        <lei>549300CRGMZK3K53BF92</lei>
        <title>ANHEUSER-BUSCH INBEV WORLDWIDE INC</title>
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        <valUSD>3456447.80000000</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>2040-06-01</maturityDt>
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        <name>Iberdrola International B.V.</name>
        <lei>549300ZMLFJKWC63XN87</lei>
        <title>IBERDROLA INTL BV</title>
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        <name>ATMOS ENERGY CORPORATION</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
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        <balance>255000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-10-15</maturityDt>
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          <annualizedRt>4.12500000</annualizedRt>
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        <name>Federal Express Corporation 2020-1 Pass Through Trusts</name>
        <lei>N/A</lei>
        <title>FEDEX CORP 2020-1 CLASS AA PASS THROUGH TRUST</title>
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        <identifiers>
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        <balance>2165000.00000000</balance>
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        <valUSD>2142938.65000000</valUSD>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-08-20</maturityDt>
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        <name>INTERNATIONAL BUSINESS MACHINES CORPORATION</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>IBM CORP</title>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2042-06-20</maturityDt>
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        <name>ORANGE SA</name>
        <lei>969500MCOONR8990S771</lei>
        <title>ORANGE SA</title>
        <cusip>35177PAL1</cusip>
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        <balance>1143000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-03-01</maturityDt>
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        <name>CONSOLIDATED EDISON COMPANY OF NEW YORK, INC.</name>
        <lei>VZFZPMWDHTQCFKYOBP05</lei>
        <title>CONSOLIDATED EDISON CO. OF NY</title>
        <cusip>209111EU3</cusip>
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        <name>SOUTHWEST AIRLINES CO.</name>
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        <name>RAYTHEON TECHNOLOGIES CORPORATION</name>
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        <name>DEVON ENERGY CORPORATION</name>
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        <name>WALMART INC.</name>
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      <invstOrSec>
        <name>Enbridge Inc.</name>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-07-15</maturityDt>
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      <invstOrSec>
        <name>FISERV, INC.</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-01</maturityDt>
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          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>WRKCO INC.</name>
        <lei>549300JEB576INN13W07</lei>
        <title>WRKCO INC</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PRUDENTIAL FINANCIAL, INC.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>PRUDENTIAL FINANCIAL INC</title>
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          <isin value="US74432QCA13"/>
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        <balance>495000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>625003.83000000</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>2044-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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      <invstOrSec>
        <name>EQUINOR ASA</name>
        <lei>OW6OFBNCKXC4US5C7523</lei>
        <title>STATOIL ASA</title>
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          <isin value="US85771PAC68"/>
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        <balance>825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1095684.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2040-08-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITEDHEALTH GROUP INCORPORATED</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GROUP INC</title>
        <cusip>91324PBU5</cusip>
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          <isin value="US91324PBU57"/>
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        <balance>810000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1026556.74000000</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>2041-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COMPAGNIE DE CHEMIN DE FER CANADIEN PACIFIQUE</name>
        <lei>54930036474DURYNB481</lei>
        <title>CANADIAN PACIFIC RR CO</title>
        <cusip>13645RAT1</cusip>
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          <isin value="US13645RAT14"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>437953.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ORACLE CORPORATION</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP</title>
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          <isin value="US68389XBK00"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1001949.00000000</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>2021-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.90000000</annualizedRt>
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      <invstOrSec>
        <name>LINCOLN NATIONAL CORPORATION</name>
        <lei>EFQMQROEDSNBRIP7LE47</lei>
        <title>LINCOLN NATIONAL CORP</title>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>210088.70000000</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>2026-12-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
        <title>SUNOCO LOGISTICS PARTNERS</title>
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        <balance>1625000.00000000</balance>
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        <valUSD>1779375.00000000</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>2043-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</annualizedRt>
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      <invstOrSec>
        <name>COMPAGNIE DE CHEMIN DE FER CANADIEN PACIFIQUE</name>
        <lei>54930036474DURYNB481</lei>
        <title>CANADIAN PACIFIC RAILWAY</title>
        <cusip>13648TAA5</cusip>
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        <balance>1285000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-05</maturityDt>
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        <name>NEXTERA ENERGY CAPITAL HOLDINGS, INC.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
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        <valUSD>1096690.14000000</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>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CVS HEALTH CORPORATION</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-03-25</maturityDt>
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          <annualizedRt>4.78000000</annualizedRt>
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      <invstOrSec>
        <name>THE HOME DEPOT, INC.</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>HOME DEPOT INC</title>
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        <balance>130000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-12-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Virginia Electric and Power Company</name>
        <lei>CQKUMNNZVDJLRYV2PT43</lei>
        <title>VIRGINIA ELEC &amp; POWER CO</title>
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        <balance>625000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; COMPANY</title>
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        <balance>3679000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-22</maturityDt>
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        <name>CANADIAN NATURAL RESOURCES LIMITED</name>
        <lei>549300T15RIMIKZC5Q38</lei>
        <title>CANADIAN NATL RESOURCE</title>
        <cusip>136385AX9</cusip>
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        <balance>2504000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2757530.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</annualizedRt>
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        <name>COMCAST CABLE COMMUNICATIONS, LLC.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GENERAL ELECTRIC COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BERKSHIRE HATHAWAY ENERGY COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>HEALTHCARE TRUST OF AMERICA HOLDINGS, LP</name>
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        <title>HEALTHCARE TRUST OF AMER</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CITIGROUP INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Southwest Airlines Pass Through Certificates</name>
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        <title>SW AIRLINES 07-1 TRUST</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-01</maturityDt>
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        <name>ROCKWELL COLLINS, INC.</name>
        <lei>XO75O7GICH1NPWLBRL05</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-15</maturityDt>
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        <name>The Travelers Companies, Inc.</name>
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        <title>TRAVELERS COS INC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>BRISTOL-MYERS SQUIBB COMPANY</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BROWN &amp; BROWN, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Nutrien Ltd.</name>
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        <title>NUTRIEN LTD</title>
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        <invCountry>CA</invCountry>

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          <maturityDt>2030-05-13</maturityDt>
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        <name>ROPER TECHNOLOGIES, INC.</name>
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        <name>Iberdrola International B.V.</name>
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        <title>IBERDROLA INTL BV</title>
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        <invCountry>NL</invCountry>

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        <name>THE INTERPUBLIC GROUP OF COMPANIES, INC.</name>
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        <title>INTERPUBLIC GROUP COS</title>
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        <name>SOUTHERN COMPANY GAS CAPITAL CORPORATION</name>
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        <title>SOUTHERN CO GAS CAPITAL</title>
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        <issuerCat>CORP</issuerCat>
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        <name>AMGEN INC.</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>AMGEN INC</title>
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        <invCountry>US</invCountry>

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        <name>Shell International Finance B.V.</name>
        <lei>213800ITMMKU4Z7I4F78</lei>
        <title>SHELL INTERNATIONAL FIN</title>
        <cusip>822582AY8</cusip>
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        <name>XTO ENERGY INC.</name>
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        <name>GENERAL MOTORS COMPANY</name>
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        <name>ABBVIE INC.</name>
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        <name>CONSTELLATION BRANDS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Philip Morris International Inc.</name>
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        <name>BANK OF AMERICA CORPORATION</name>
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        <name>Alabama Power Company</name>
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        <name>INTERNATIONAL PAPER COMPANY</name>
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        <name>BUNGE LIMITED FINANCE CORP.</name>
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        <name>MICROSOFT CORPORATION</name>
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        <name>THE INTERPUBLIC GROUP OF COMPANIES, INC.</name>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <name>THE WALT DISNEY COMPANY</name>
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        <title>WALT DISNEY CO/THE</title>
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        <name>MORGAN STANLEY</name>
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        <name>ANHEUSER-BUSCH COMPANIES, LLC</name>
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        <name>AT&amp;T INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>RELX Capital Inc.</name>
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        <name>ENERGY TRANSFER LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FISERV, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-07-01</maturityDt>
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        <name>MARTIN MARIETTA MATERIALS, INC.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-15</maturityDt>
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        <name>NUCOR CORPORATION</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-01</maturityDt>
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        <name>PFIZER INC.</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ABBVIE INC.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>CISCO SYSTEMS, INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BHP BILLITON FINANCE (USA) LIMITED</name>
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        <invCountry>AU</invCountry>

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        <name>UNITED PARCEL SERVICE, INC.</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
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        <name>Shell International Finance B.V.</name>
        <lei>213800ITMMKU4Z7I4F78</lei>
        <title>SHELL INTERNATIONAL FIN</title>
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        <name>FEDERATED HERMES TREASURY OBLIGATIONS FUND</name>
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        <issuerCat>RF</issuerCat>
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        <name>CSX Corporation</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T INC.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC.</title>
        <cusip>00206RBA9</cusip>
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        <name>BP CAPITAL MARKETS AMERICA INC.</name>
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        <name>Deutsche Telekom International Finance B.V.</name>
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        <name>ENTERPRISE PRODUCTS OPERATING LLC</name>
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        <name>JPMORGAN CHASE &amp; CO.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CANADIAN NATURAL RESOURCES LIMITED</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-15</maturityDt>
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        <name>MORGAN STANLEY</name>
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        <name>CVS HEALTH CORPORATION</name>
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        <name>Alabama Power Company</name>
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        <name>ANALOG DEVICES, INC.</name>
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        <name>ENERGY TRANSFER LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
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        <name>ANTHEM, INC.</name>
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        <name>JPMORGAN CHASE &amp; CO.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO</title>
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        <name>CATERPILLAR INC.</name>
        <lei>WRJR7GS4GTRECRRTVX92</lei>
        <title>CATERPILLAR INC</title>
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        <assetCat>DBT</assetCat>
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        <name>MOHAWK INDUSTRIES, INC.</name>
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        <name>MARTIN MARIETTA MATERIALS, INC.</name>
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        <name>TRANSCANADA PIPELINES LIMITED</name>
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        <name>ORACLE CORPORATION</name>
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        <name>PRINCIPAL FINANCIAL GROUP, INC.</name>
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        <name>SOUTHERN COMPANY GAS CAPITAL CORPORATION</name>
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        <name>America Movil, S.A.B. de C.V.</name>
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        <invCountry>MX</invCountry>

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        <name>UNITEDHEALTH GROUP INCORPORATED</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GROUP INC</title>
        <cusip>91324PCR1</cusip>
        <identifiers>
          <isin value="US91324PCR10"/>
        </identifiers>
        <balance>375000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>492166.50000000</valUSD>
        <pctVal>0.182265951840</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>4.75000000</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>LYB INTERNATIONAL FINANCE III, LLC</name>
        <lei>N/A</lei>
        <title>LYB INTERNATIONAL FINANCE III LLC</title>
        <cusip>50249AAC7</cusip>
        <identifiers>
          <isin value="US50249AAC71"/>
        </identifiers>
        <balance>655000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>711723.00000000</valUSD>
        <pctVal>0.263575172307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</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>Eastern Energy Gas Holdings, LLC</name>
        <lei>549300BFOD6TDMVV4O24</lei>
        <title>DOMINION GAS HOLDINGS LLC</title>
        <cusip>257375AH8</cusip>
        <identifiers>
          <isin value="US257375AH87"/>
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        <balance>1830000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1978248.30000000</valUSD>
        <pctVal>0.732612458132</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</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>CAPITAL ONE FINANCIAL CORPORATION</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CO</title>
        <cusip>14040HBG9</cusip>
        <identifiers>
          <isin value="US14040HBG92"/>
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        <balance>900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>967368.60000000</valUSD>
        <pctVal>0.358249410837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO</title>
        <cusip>46647PAF3</cusip>
        <identifiers>
          <isin value="US46647PAF36"/>
        </identifiers>
        <balance>310000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>341089.90000000</valUSD>
        <pctVal>0.126317161542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.54000000</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>LYB International Finance II B.V.</name>
        <lei>549300ZSNDBYN4Z4VZ93</lei>
        <title>LYB INTERNATIONAL FINANCE II BV</title>
        <cusip>50247WAB3</cusip>
        <identifiers>
          <isin value="US50247WAB37"/>
        </identifiers>
        <balance>525000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>572435.33000000</valUSD>
        <pctVal>0.211992222732</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2021-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>HC Capital Trust</ncom:nameOfApplicant>
      <ncom:signature>Denise Lewis</ncom:signature>
      <ncom:signerName>Denise Lewis</ncom:signerName>
      <ncom:title>Asst. Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
