overheat issue. - 1997 Cougar

Hi, new to here and this issue. 97 cougar with 4.6l been having a issue with overheating. I have replaced all cooling components with new parts. Ie thermostat, radiator, hoses, waterpump. Fans do run, and am not loosing any coolant , no leaks, etc . Ni cavitation . What else can it be?. Frustrated...
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