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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>RWE FINANCE US LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>GREENKO POWER II LTD</name>
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        <invCountry>MU</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <invCountry>LU</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Gaci First Investment Co.</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>FHLMC Multifamily Structured Pass Through Certs.</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>MIDAMERICAN ENERGY CO</name>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>NATURE CONSERVANCY (THE)</name>
        <lei>549300GJ1IZME7V1JJ28</lei>
        <title>Nature Conservancy/The</title>
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          <isin value="US63902HBF55"/>
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        <fairValLevel>2</fairValLevel>
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        <name>ONCOR ELECTRIC DELIVERY</name>
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        <title>Oncor Electric Delivery Co LLC</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>REC LTD</name>
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        <title>REC Ltd</title>
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        <invCountry>IN</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <title>Korea Electric Power Corp</title>
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        <fairValLevel>2</fairValLevel>
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        <name>SEATTLE CHILDREN HOSP</name>
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        <title>Seattle Children's Hospital</title>
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        <fairValLevel>2</fairValLevel>
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        <name>HONG KONG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>PT SORIK MAR GEO POW</name>
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        <title>Sorik Marapi Geothermal Power PT</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>KOREA WATER RESOURCES</name>
        <lei>98840035IHSMZZ2TP220</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>PERTAMINA GEOTHERMAL ENE</name>
        <lei>2549009CVV6Y7H26NV14</lei>
        <title>Pertamina Geothermal Energy PT</title>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>AES ANDES SA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>PUBLIC SERVICE ELECTRIC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>STAR ENERGY CO ISSUE</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SMURFIT KAPPA TREASURY</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>COLBUN SA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>INVERSIONES CMPC SA</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>AES CORP/THE</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>AES CORP/THE</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ALDAR INVESTMENT PROP</name>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>APPLE INC</name>
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        <title>Apple Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CONTINUUM GRN SPV CO-ISS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LG CHEM LTD</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Compass Datacenters Issuer III, LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Fanniemae-Aces</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>KILROY REALTY LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>AVANGRID INC</name>
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        <title>Avangrid Inc</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JOHNSON CONTROLS/TYCO FI</name>
        <lei>N/A</lei>
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          <isin value="US47837RAA86"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PROLOGIS LP</name>
        <lei>GL16H1DHB0QSHP25F723</lei>
        <title>Prologis LP</title>
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          <isin value="US74340XBR17"/>
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        <balance>425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>369753.22000000</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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          <maturityDt>2030-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
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      <invstOrSec>
        <name>CDP FINANCIAL INC</name>
        <lei>549300OXMGVYFCBFV096</lei>
        <title>CDP Financial Inc</title>
        <cusip>125094AV4</cusip>
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          <isin value="US125094AV47"/>
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        <balance>560000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>558903.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPN BANK FOR INT'L COOP</name>
        <lei>549300TJ3QFYVCTSCJ29</lei>
        <title>Japan Bank for International Cooperation</title>
        <cusip>471048CP1</cusip>
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          <isin value="US471048CP14"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>246031.39000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.63000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ABN AMRO BANK NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO Bank NV</title>
        <cusip>00084DAW0</cusip>
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          <isin value="US00084DAW02"/>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>521098.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.47000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Triumph Rail LLC</name>
        <lei>N/A</lei>
        <title>Triumph Rail Holdings LLC</title>
        <cusip>89683LAA8</cusip>
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          <isin value="US89683LAA89"/>
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        <balance>293781.46000000</balance>
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        <curCd>USD</curCd>
        <valUSD>285254.42000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.15000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EUROPEAN INVESTMENT BANK</name>
        <lei>5493006YXS1U5GIHE750</lei>
        <title>European Investment Bank</title>
        <cusip>298785JN7</cusip>
        <identifiers>
          <isin value="US298785JN70"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>712915.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.63000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MIDAMERICAN ENERGY CO</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>MidAmerican Energy Co</title>
        <cusip>595620AW5</cusip>
        <identifiers>
          <isin value="US595620AW50"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>181315.85000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MVM ENERGETIKA ZRT</name>
        <lei>529900ELI5AQ9F74PF85</lei>
        <title>MVM Energetika Zrt</title>
        <cusip>000000000</cusip>
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          <isin value="XS2634075399"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>419979.27000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</annualizedRt>
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      <invstOrSec>
        <name>NEW DEVELOPM BANK BRICS</name>
        <lei>254900VPI91W77OOUM06</lei>
        <title>New Development Bank/The</title>
        <cusip>000000000</cusip>
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          <isin value="XS2598333701"/>
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        <balance>0.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>XX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.13000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Trinity Rail Leasing L.P.</name>
        <lei>549300JQ2JIV94ZI1045</lei>
        <title>Trinity Rail Leasing 2021 LLC</title>
        <cusip>89656GAA2</cusip>
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          <isin value="US89656GAA22"/>
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        <balance>120409.68000000</balance>
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        <curCd>USD</curCd>
        <valUSD>113946.11000000</valUSD>
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        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-07-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.26000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>FORTESCUE TREASURY PTY L</name>
        <lei>549300EFD6S2NFE9D745</lei>
        <title>Fortescue Treasury Pty Ltd</title>
        <cusip>30251GBE6</cusip>
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          <isin value="US30251GBE61"/>
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        <balance>475000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>491442.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.13000000</annualizedRt>
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        <name>NORTHERN STATES PWR-MINN</name>
        <lei>3S1GHB0TEH85KX44SB51</lei>
        <title>Northern States Power Co/MN</title>
        <cusip>665772CY3</cusip>
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          <isin value="US665772CY38"/>
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        <balance>425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>403910.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.40000000</annualizedRt>
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      <invstOrSec>
        <name>Fanniemae-Aces</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae-Aces</title>
        <cusip>3136B1XJ8</cusip>
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          <isin value="US3136B1XJ86"/>
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        <balance>302110.37000000</balance>
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        <curCd>USD</curCd>
        <valUSD>296947.55000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-03-25</maturityDt>
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        <name>GEORGIAN RAILWAY JSC</name>
        <lei>2138005UZV4ZT2B2ZO19</lei>
        <title>Georgian Railway JSC</title>
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          <isin value="US37363BAB45"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GE</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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        <name>HONG KONG</name>
        <lei>549300DSMAD69T7GGN13</lei>
        <title>Hong Kong Government International Bond</title>
        <cusip>43858AAH3</cusip>
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          <isin value="US43858AAH32"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.63000000</annualizedRt>
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        <name>PUBLIC SERVICE COLORADO</name>
        <lei>5BANEF6PGSEK0SNMQF44</lei>
        <title>Public Service Co of Colorado</title>
        <cusip>744448CS8</cusip>
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          <isin value="US744448CS82"/>
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        <balance>350000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Chile Government International Bonds</name>
        <lei>549300FLZTJM5YJF8D34</lei>
        <title>Chile Government International Bonds</title>
        <cusip>168863DL9</cusip>
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          <isin value="US168863DL94"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SMURFIT KAPPA TREASURY</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <invCountry>TR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>SK BATTERY AMERICA INC</name>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <lei>THRNG6BD57P9QWTQLG42</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>CyrusOne Data Centers Issuer I LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <title>Nova Securitisation Sarl</title>
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        <curCd>USD</curCd>
        <valUSD>290624.40000000</valUSD>
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        <invCountry>LU</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SOBHA SUKUK I HOLDING</name>
        <lei>254900VZENPT8NAXW686</lei>
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        <cusip>000000000</cusip>
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        <curCd>USD</curCd>
        <valUSD>330959.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>AE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-09-11</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>SAUDI ELECTRICITY SUKUK</name>
        <lei>549300KZ4IZK3RMUO096</lei>
        <title>Saudi Electricity Sukuk Programme Co</title>
        <cusip>000000000</cusip>
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          <isin value="XS2993847131"/>
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        <curCd>USD</curCd>
        <valUSD>817850.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-02-18</maturityDt>
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      <invstOrSec>
        <name>REC LTD</name>
        <lei>335800B4YRYWAMIJZ374</lei>
        <title>REC Ltd</title>
        <cusip>74947LAD6</cusip>
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          <isin value="US74947LAD64"/>
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        <curCd>USD</curCd>
        <valUSD>304842.14000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.63000000</annualizedRt>
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        <name>IND &amp; COMM BK CHINA/HK</name>
        <lei>5493002ERZU2K9PZDL40</lei>
        <title>Industrial &amp; Commercial Bank of China Ltd/Hong Kong</title>
        <cusip>000000000</cusip>
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          <isin value="XS2817144574"/>
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        <balance>600000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>599967.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-23</maturityDt>
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      <invstOrSec>
        <name>ELECTRICITE DE FRANCE SA</name>
        <lei>549300X3UK4GG3FNMO06</lei>
        <title>Electricite de France SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR001400WIO7"/>
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        <curCd>USD</curCd>
        <valUSD>401655.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-01-20</maturityDt>
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          <annualizedRt>4.80000000</annualizedRt>
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      <invstOrSec>
        <name>GACI FIRST INVESTMENT</name>
        <lei>558600TU1PWGNLZ3XM88</lei>
        <title>Gaci First Investment Co</title>
        <cusip>000000000</cusip>
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          <isin value="XS2542162677"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>253559.23000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2122-10-13</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HAT HOLDINGS I LLC/HAT</name>
        <lei>N/A</lei>
        <title>HAT Holdings I LLC / HAT Holdings II LLC</title>
        <cusip>418751AD5</cusip>
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          <isin value="US418751AD59"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>208483.59000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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        <name>VMED O2 UK FINAN</name>
        <lei>213800MRR46ECNGZ7L69</lei>
        <title>Vmed O2 UK Financing I PLC</title>
        <cusip>92858RAB6</cusip>
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          <isin value="US92858RAB69"/>
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        <balance>775000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>670969.35000000</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>2031-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <name>WISCONSIN POWER &amp; LIGHT</name>
        <lei>JWBYHVQVMY66CVCOSO49</lei>
        <title>Wisconsin Power and Light Co</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>HONG KONG</name>
        <lei>549300DSMAD69T7GGN13</lei>
        <title>Hong Kong Government International Bond</title>
        <cusip>43858AAJ9</cusip>
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          <isin value="US43858AAJ97"/>
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        <balance>250000.00000000</balance>
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        <valUSD>260593.91000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>HK</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <name>SK BATTERY AMERICA INC</name>
        <lei>54930012FBFVNU7RWO57</lei>
        <title>SK Battery America Inc</title>
        <cusip>000000000</cusip>
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        <invCountry>US</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-23</maturityDt>
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        <name>AMGEN INC</name>
        <lei>62QBXGPJ34PQ72Z12S66</lei>
        <title>Amgen Inc</title>
        <cusip>031162DD9</cusip>
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        <valUSD>414458.19000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-02-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
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        <name>BOCOM LEASING MGMT</name>
        <lei>549300VK5E35PN5ZZX74</lei>
        <title>Bocom Leasing Management Hong Kong Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="XS3016269592"/>
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        <curCd>USD</curCd>
        <valUSD>200466.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
          <annualizedRt>4.33000000</annualizedRt>
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        <name>BOSTON PROPERTIES LP</name>
        <lei>BVHHEFJI6SHNOKQT2572</lei>
        <title>Boston Properties LP</title>
        <cusip>10112RBB9</cusip>
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          <isin value="US10112RBB96"/>
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        <balance>510000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>490322.68000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
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        <name>PUBLIC SERVICE COLORADO</name>
        <lei>5BANEF6PGSEK0SNMQF44</lei>
        <title>Public Service Co of Colorado</title>
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        <curCd>USD</curCd>
        <valUSD>147661.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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      <invstOrSec>
        <name>HONG KONG</name>
        <lei>549300DSMAD69T7GGN13</lei>
        <title>Hong Kong Government International Bond</title>
        <cusip>43858AAQ3</cusip>
        <identifiers>
          <isin value="US43858AAQ31"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>502181.02000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.13000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>VERIZON COMMUNICATIONS</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications Inc</title>
        <cusip>92343VFL3</cusip>
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        <balance>425000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>374502.21000000</valUSD>
        <pctVal>0.211702769476</pctVal>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SOUTHWESTERN ELEC POWER</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2051-11-01</maturityDt>
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          <annualizedRt>3.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>COLBUN SA</name>
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        <curCd>USD</curCd>
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        <invCountry>CL</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-09-11</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HONDA MOTOR CO LTD</name>
        <lei>549300P7ZYCQJ36CCS16</lei>
        <title>Honda Motor Co Ltd</title>
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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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          <maturityDt>2032-03-10</maturityDt>
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      <invstOrSec>
        <name>GENERAL MOTORS CO</name>
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        <title>General Motors Co</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-10-15</maturityDt>
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      <invstOrSec>
        <name>LGENERGYSOLUTION</name>
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        <title>LG Energy Solution Ltd</title>
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        <curCd>USD</curCd>
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        <invCountry>KR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LGENERGYSOLUTION</name>
        <lei>988400QX6P286XA6ZS85</lei>
        <title>LG Energy Solution Ltd</title>
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        <curCd>USD</curCd>
        <valUSD>200990.59000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.63000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INTERCHILE SA</name>
        <lei>549300Y105FQQX6RCE16</lei>
        <title>Interchile SA</title>
        <cusip>45846AAA8</cusip>
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        <balance>550000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>460285.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2056-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>SONOCO PRODUCTS CO</name>
        <lei>GKOMIK4RDJGHEF0VNP11</lei>
        <title>Sonoco Products Co</title>
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        <curCd>USD</curCd>
        <valUSD>147753.89000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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      <invstOrSec>
        <name>SOCIEDAD QUIMICA Y MINER</name>
        <lei>TJ88LXZZW5PWIN93ZC81</lei>
        <title>Sociedad Quimica y Minera de Chile SA</title>
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        <curCd>USD</curCd>
        <valUSD>274389.02000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-09-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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      <invstOrSec>
        <name>NBK SPC LTD</name>
        <lei>549300P1ANDK86KWB419</lei>
        <title>NBK SPC Ltd</title>
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        <curCd>USD</curCd>
        <valUSD>306807.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Fanniemae-Aces</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae-Aces</title>
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          <isin value="US3136B6XJ73"/>
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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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          <maturityDt>2029-08-25</maturityDt>
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        <name>AVALONBAY COMMUNITIES</name>
        <lei>K9G90K85RBWD2LAGQX17</lei>
        <title>AvalonBay Communities Inc</title>
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          <isin value="US053484AC59"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>ABU DHABI FUTURE ENERGY</name>
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        <title>Abu Dhabi Future Energy Co Pjsc Masdar</title>
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          <isin value="XS2865538776"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>AE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>FORD MOTOR COMPANY</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>Ford Motor Co</title>
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        <fairValLevel>2</fairValLevel>
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        <name>HONG KONG</name>
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        <title>Hong Kong Government International Bond</title>
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        <assetCat>DBT</assetCat>
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        <invCountry>HK</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AVALONBAY COMMUNITIES</name>
        <lei>K9G90K85RBWD2LAGQX17</lei>
        <title>AvalonBay Communities Inc</title>
        <cusip>053484AB7</cusip>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>HENAN WATER INVESTMENT</name>
        <lei>300300CMQQAWD9QA4A15</lei>
        <title>Henan Water Conservancy Investment Group Co Ltd</title>
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          <isin value="XS3138763225"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>297613.61000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Aligned Data Centers Issuer LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>FIRST ABU DHABI BANK PJS</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OMNIYAT SUKUK 1 LTD</name>
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        <curCd>USD</curCd>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SAUDI ELEC GLB SUKUK</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>STATE OF ISRAEL</name>
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        <title>Israel Government International Bond</title>
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        <fairValLevel>2</fairValLevel>
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        <name>DOMINION ENERGY INC</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>Dominion Energy Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TOYOTA MOTOR CREDIT CORP</name>
        <lei>Z2VZBHUMB7PWWJ63I008</lei>
        <title>Toyota Motor Credit Corp</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-13</maturityDt>
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        <name>Fanniemae-Aces</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae-Aces</title>
        <cusip>3136B1K86</cusip>
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          <isin value="US3136B1K865"/>
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        <balance>188231.81000000</balance>
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        <curCd>USD</curCd>
        <valUSD>184899.02000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-25</maturityDt>
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        <name>COCA-COLA FEMSA SAB CV</name>
        <lei>5493008KEVFYPMGTXO33</lei>
        <title>Coca-Cola Femsa SAB de CV</title>
        <cusip>191241AJ7</cusip>
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        <curCd>USD</curCd>
        <valUSD>314851.76000000</valUSD>
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        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2032-09-01</maturityDt>
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        <name>BANK OF CHINA/LONDON</name>
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        <invCountry>CN</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>ERP OPERATING LP</name>
        <lei>DX5HQV5MLU50FEWZ5072</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>INDIA GREEN POWER HOLD</name>
        <lei>254900I7N0GT4VVL6V29</lei>
        <title>India Green Power Holdings</title>
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        <invCountry>MU</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>SCE RECOVERY FUNDING LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ALEXANDRIA REAL ESTATE E</name>
        <lei>MGCJBT4MKTQBVLNUIS88</lei>
        <title>Alexandria Real Estate Equities Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>INDIAN RAILWAY FINANCE</name>
        <lei>335800F2JHSOGXQEBY56</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>DOMINICAN REPUBLIC</name>
        <lei>254900EHU7Q8FGVPI369</lei>
        <title>Dominican Republic International Bond</title>
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        <fairValLevel>2</fairValLevel>
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        <name>MIDAMERICAN ENERGY CO</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>MidAmerican Energy Co</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CCB SHIPPING AND AVIATIO</name>
        <lei>836800V637O21R4LHK69</lei>
        <title>CCB Shipping and Aviation Leasing Corp Ltd</title>
        <cusip>000000000</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-09-17</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>ISTANBUL METROPOLITAN MU</name>
        <lei>213800T1VDQSNKA2MD76</lei>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>LIMAK YENILENEBILIR</name>
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        <fairValLevel>2</fairValLevel>
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        <title>Japan Bank for International Cooperation</title>
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        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>GEORGIA GLOBAL UTILITIES</name>
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        <title>Georgia Global Utilities JSC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>EDP FINANCE BV</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Fanniemae-Aces</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <lei>549300DSMAD69T7GGN13</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>WELLTOWER OP LLC</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>AMERICAN HOMES 4 RENT</name>
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        <title>American Homes 4 Rent LP</title>
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        <name>ARDAGH METAL PACKAGING</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>JSCB AGROBANK</name>
        <lei>254900JPMU0LFCP18673</lei>
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        <invCountry>UZ</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>NATIONAL CENTRAL COOLING</name>
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        <invCountry>AE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-03-05</maturityDt>
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          <annualizedRt>5.28000000</annualizedRt>
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        <name>PUBLIC SERVICE ELECTRIC</name>
        <lei>549300RUHPVD434XUK18</lei>
        <title>Public Service Electric and Gas Co</title>
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        <fairValLevel>2</fairValLevel>
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        <name>NORINCHUKIN BANK</name>
        <lei>5493007VSMFZCPV1NB83</lei>
        <title>Norinchukin Bank/The</title>
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        <invCountry>JP</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-09</maturityDt>
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        <name>WISCONSIN POWER &amp; LIGHT</name>
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        <title>Wisconsin Power and Light Co</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2034-03-30</maturityDt>
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        <name>Fanniemae-Aces</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae-Aces</title>
        <cusip>3136BFRV7</cusip>
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        <curCd>USD</curCd>
        <valUSD>310176.09000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-11-25</maturityDt>
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          <annualizedRt>1.52000000</annualizedRt>
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        <name>BROOKFIELD FINANCE INC</name>
        <lei>549300XH8D8K6OYWGD17</lei>
        <title>Brookfield Finance Inc</title>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>BOSTON PROPERTIES LP</name>
        <lei>BVHHEFJI6SHNOKQT2572</lei>
        <title>Boston Properties LP</title>
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        <balance>465000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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        <name>INTERSTATE POWER &amp; LIGHT</name>
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        <title>Interstate Power and Light Co</title>
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        <valUSD>208504.74000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>INDONESIA GOVT SUKUK</name>
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        <title>Perusahaan Penerbit SBSN Indonesia III</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>STAR ENERGY GEOTHERMAL</name>
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        <invCountry>VG</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>KIA CORP</name>
        <lei>988400V8MJK9N7OI5X76</lei>
        <title>Kia Corp</title>
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        <fairValLevel>2</fairValLevel>
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        <name>EXPORT-IMPORT BANK KOREA</name>
        <lei>549300APVP4R32PI3Y06</lei>
        <title>Export-Import Bank of Korea</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CHINA WATER AFFAIRS GRP</name>
        <lei>529900XTSVH0DH4CEX74</lei>
        <title>China Water Affairs Group Ltd</title>
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        <invCountry>BM</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>ASIAN DEVELOPMENT BANK</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>Asian Development Bank</title>
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        <fairValLevel>2</fairValLevel>
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        <name>POSCO HOLDINGS INC</name>
        <lei>988400E5HRVX81AYLM04</lei>
        <title>POSCO Holdings Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CHINA MERCHANTS BANK/LUX</name>
        <lei>549300L51ZEIQOS58R74</lei>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>DTE ELECTRIC CO</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NEXTERA ENERGY CAPITAL</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-06-15</maturityDt>
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        <name>SHANGHAI PUDONG LONDON</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BOCOM LEASING MGMT</name>
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        <title>Bocom Leasing Management Hong Kong Co Ltd</title>
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        <invCountry>HK</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-06-26</maturityDt>
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        <name>RENEW TREAS IFSC PVT LTD</name>
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        <title>Renew Treasury Ifsc Pvt Ltd</title>
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        <invCountry>IN</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-02</maturityDt>
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        <name>MIDAMERICAN ENERGY CO</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>MidAmerican Energy Co</title>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
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        <name>SAEL LTD GROUP ISSUERS</name>
        <lei>N/A</lei>
        <title>SAEL/SPREPL/SSSPL/JGPEPL/SKREPL/UBEPL</title>
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        <invCountry>IN</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-07-31</maturityDt>
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        <name>CLEAN RENEWABLE POWER</name>
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        <title>Clean Renewable Power Mauritius Pte Ltd</title>
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        <invCountry>MU</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>MIDAMERICAN ENERGY CO</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ATLANTICA SUSTAIN INFRA</name>
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        <title>Atlantica Sustainable Infrastructure Ltd</title>
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        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>GENNEIA SA</name>
        <lei>529900YZ70LX0XWS9P67</lei>
        <title>Genneia SA</title>
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        <invCountry>AR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>SCE RECOVERY FUNDING LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ZF NA CAPITAL</name>
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        <title>ZF North America Capital Inc</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>HONG KONG</name>
        <lei>549300DSMAD69T7GGN13</lei>
        <title>Hong Kong Government International Bond</title>
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        <fairValLevel>2</fairValLevel>
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        <name>JPN BANK FOR INT'L COOP</name>
        <lei>549300TJ3QFYVCTSCJ29</lei>
        <title>Japan Bank for International Cooperation</title>
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        <fairValLevel>2</fairValLevel>
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        <name>HANWHA Q CELLS AMERICA</name>
        <lei>988400471QDZGCLXRM35</lei>
        <title>Hanwha Q Cells Americas Holdings Corp</title>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CLEARWAY ENERGY OP LLC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EXPORT-IMPORT BANK KOREA</name>
        <lei>549300APVP4R32PI3Y06</lei>
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        <curCd>USD</curCd>
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        <issuerCat>NUSS</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Gaci First Investment Co.</name>
        <lei>558600TU1PWGNLZ3XM88</lei>
        <title>Gaci First Investment Co.</title>
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          <isin value="XS2585987683"/>
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        <curCd>USD</curCd>
        <valUSD>995322.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2030-02-14</maturityDt>
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      <invstOrSec>
        <name>Maryland Economic Development Corp</name>
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        <curCd>USD</curCd>
        <valUSD>199133.78000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-05-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.94000000</annualizedRt>
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      <invstOrSec>
        <name>SMURFIT KAPPA TREASURY</name>
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        <title>Smurfit Kappa Treasury ULC</title>
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          <isin value="US83272GAF81"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>435908.93000000</valUSD>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2054-04-03</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>10 RENEW POWER SUBSIDIAR</name>
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        <title>ReNew Wind Energy AP2 / ReNew Power Pvt Ltd other 9 Subsidiaries</title>
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          <isin value="US75973PAA75"/>
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        <curCd>USD</curCd>
        <valUSD>288795.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-07-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>ABN AMRO BANK NV</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO Bank NV</title>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>194900.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-24</maturityDt>
          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>MIDAMERICAN ENERGY CO</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>MidAmerican Energy Co</title>
        <cusip>595620AZ8</cusip>
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          <isin value="US595620AZ81"/>
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        <balance>350000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2055-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
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      <invstOrSec>
        <name>MIDAMERICAN ENERGY CO</name>
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        <title>MidAmerican Energy Co</title>
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        <curCd>USD</curCd>
        <valUSD>180235.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.35000000</annualizedRt>
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      <invstOrSec>
        <name>Gaci First Investment Co.</name>
        <lei>558600TU1PWGNLZ3XM88</lei>
        <title>Gaci First Investment Co.</title>
        <cusip>000000000</cusip>
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          <isin value="XS2585988145"/>
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        <balance>889000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>775597.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-02-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.13000000</annualizedRt>
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      <invstOrSec>
        <name>Chile Government International Bonds</name>
        <lei>549300FLZTJM5YJF8D34</lei>
        <title>Chile Government International Bonds</title>
        <cusip>168863DN5</cusip>
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        <balance>825000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>737550.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>CL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2032-01-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.55000000</annualizedRt>
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        <name>NEDER WATERSCHAPSBANK</name>
        <lei>JLP5FSPH9WPSHY3NIM24</lei>
        <title>Nederlandse Waterschapsbank NV</title>
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        <invCountry>NL</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>NORTHERN STATES PWR-MINN</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ASIAN DEVELOPMENT BANK</name>
        <lei>549300X0MVH42CY8Q105</lei>
        <title>Asian Development Bank</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>XX</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>ENGIE ENERGIA CHILE SA</name>
        <lei>5493000FIKCC3ZDWTO77</lei>
        <title>Engie Energia Chile SA</title>
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          <isin value="US29287TAB52"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>AGRICULTURAL BK CHINA/NY</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>JPN BANK FOR INT'L COOP</name>
        <lei>549300TJ3QFYVCTSCJ29</lei>
        <title>Japan Bank for International Cooperation</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-05</maturityDt>
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          <annualizedRt>4.38000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ABU DHABI NATIONAL ENERG</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KILROY REALTY LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>NORINCHUKIN BANK</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>ZF NA CAPITAL</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>HONG KONG</name>
        <lei>549300DSMAD69T7GGN13</lei>
        <title>Hong Kong Government International Bond</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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          <maturityDt>2031-02-02</maturityDt>
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        <name>NY STATE ELECTRIC &amp; GAS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LG CHEM LTD</name>
        <lei>988400IES4EIG7O06940</lei>
        <title>LG Chem Ltd</title>
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        <invCountry>KR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>LGENERGYSOLUTION</name>
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        <title>LG Energy Solution Ltd</title>
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        <invCountry>KR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>HONDA MOTOR CO LTD</name>
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        <title>Honda Motor Co Ltd</title>
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        <fairValLevel>2</fairValLevel>
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        <name>KAISER FOUNDATION HOSPIT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ABU DHABI FUTURE ENERGY</name>
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        <title>Abu Dhabi Future Energy Co Pjsc Masdar</title>
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        <invCountry>AE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Fanniemae-Aces</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae-Aces</title>
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        <fairValLevel>2</fairValLevel>
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        <name>AES ANDES SA</name>
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        <title>AES Andes SA</title>
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        <fairValLevel>2</fairValLevel>
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        <name>PATTERN ENERGY OP LP/PAT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ARIZONA PUBLIC SERVICE</name>
        <lei>YG6VT0TPHRH4TFVAQV64</lei>
        <title>Arizona Public Service Co</title>
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        <fairValLevel>2</fairValLevel>
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        <name>TRUST FIBRAUNO</name>
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        <title>Trust Fibra Uno</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Commonwealth of Massachusetts</name>
        <lei>5493001N1YCXNI1O7K10</lei>
        <title>MASSACHUSETTS ST</title>
        <cusip>57582RJN7</cusip>
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          <isin value="US57582RJN70"/>
        </identifiers>
        <balance>150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>119113.79000000</valUSD>
        <pctVal>0.067333966402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.28000000</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>KLABIN AUSTRIA GMBH</name>
        <lei>984500578YEA8DD41B09</lei>
        <title>Klabin Austria GmbH</title>
        <cusip>49836AAB0</cusip>
        <identifiers>
          <isin value="US49836AAB08"/>
        </identifiers>
        <balance>375000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>383820.00000000</valUSD>
        <pctVal>0.216970033315</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PIEDMONT OPERATING PARTN</name>
        <lei>549300WKGDPAS39FBD10</lei>
        <title>Piedmont Operating Partnership LP</title>
        <cusip>720198AE0</cusip>
        <identifiers>
          <isin value="US720198AE09"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>182143.56000000</valUSD>
        <pctVal>0.102964134962</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerConditional desc="REIT" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</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 ELECTRIC CO</name>
        <lei>QMPJLLDULY5C1M8PNY21</lei>
        <title>Union Electric Co</title>
        <cusip>906548CS9</cusip>
        <identifiers>
          <isin value="US906548CS94"/>
        </identifiers>
        <balance>325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>191927.47000000</valUSD>
        <pctVal>0.108494892293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2051-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.63000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-06-01</ncom:dateSigned>
      <ncom:nameOfApplicant>VanEck ETF Trust</ncom:nameOfApplicant>
      <ncom:signature>James Parker</ncom:signature>
      <ncom:signerName>James Parker</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
