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        <isRestrictedSec>N</isRestrictedSec>

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        <pctVal>0.012237187070</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Option" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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              <otherRefInst>
                <issuerName>EUR/USD (PUT OPTION)</issuerName>
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                  <cusip value="000000000"/>
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            </descRefInstrmnt>
            <principalAmt>100.00000000</principalAmt>
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            <exercisePrice>1</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>15231.86</unrealizedAppr>
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      </invstOrSec>
      <invstOrSec>
        <name>PAYPAL HOLDINGS, INC.</name>
        <lei>5493005X2GO78EFZ3E94</lei>
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        <cusip>70450YAC7</cusip>
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          <isin value="US70450YAC75"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>65359.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LIBERTY MEDIA CORPORATION</name>
        <lei>549300ZKUTPIBZLWLL89</lei>
        <title>LIBERTY SIRIUSXM GROUP CL C</title>
        <cusip>531229607</cusip>
        <identifiers>
          <isin value="US5312296073"/>
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        <balance>14011.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>587901.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GENTING SINGAPORE LIMITED</name>
        <lei>254900Y2N3AK93K1O866</lei>
        <title>GENTING SINGAPORE PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SGXE21576413"/>
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        <balance>19700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.38180000"/>
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        <pctVal>0.003321315295</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>2Y RTR 0.88% 8/13/20</name>
        <lei>N/A</lei>
        <title>2Y RTR 0.88% 8/13/20</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal" value="BRTW17127"/>
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        <balance>-1101.11470000</balance>
        <units>OU</units>
        <descOthUnits>Notional</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-19201.24000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="IRS SWAPTION" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
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                    <counterpartyName>N/A</counterpartyName>
                    <counterpartyLei>N/A</counterpartyLei>
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                  <derivAddlInfo>
                    <name>2Y RTR 0.88% 8/13/20</name>
                    <lei>N/A</lei>
                    <title>2Y RTR 0.88% 8/13/20</title>
                    <cusip>000000000</cusip>
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                      <other otherDesc="Internal" value="BRTW1712S"/>
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                    <balance>N/A</balance>
                    <units>OU</units>
                    <descOthUnits>Notional</descOthUnits>
                    <curCd>USD</curCd>
                    <valUSD>N/A</valUSD>
                    <pctVal>N/A</pctVal>
                    <assetCat>DIR</assetCat>
                    <issuerConditional desc="Interest Rate Swap" issuerCat="OTHER"/>
                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <descRefInstrmnt>
                    <indexBasketInfo>
                      <indexName>US DOLLAR 3 MO LIBOR - BBA 11AM</indexName>
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                  <fixedRecDesc amount="0.00" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.88"/>
                  <fixedPmntDesc amount="0.00" curCd="USD" fixedOrFloating="Fixed" fixedRt="0.88"/>
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                  <pmntCurCd>USD</pmntCurCd>
                  <upfrontRcpt>0.00</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
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                  <curCd>USD</curCd>
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            <shareNo>-1101.11470000</shareNo>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-08-13</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>4856.66</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HESS CORP</name>
        <lei>N/A</lei>
        <title>HESS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US42809H1077"/>
          <other otherDesc="Internal" value="42809H107"/>
        </identifiers>
        <balance>-43.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2600.64000000</valUSD>
        <pctVal>-0.00068822759</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>HESS CORP</issuerName>
                <issueTitle>HESS CORP</issueTitle>
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                  <isin value="US42809H1077"/>
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            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-2559.68000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-40.96000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mitsubishi Heavy Industries, Ltd.</name>
        <lei>353800TJ98PCAZROVE69</lei>
        <title>MITSUBISHI HEAVY INDUSTRIES LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3900000005"/>
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        <balance>1100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>43275.27000000</valUSD>
        <pctVal>0.011452271412</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MARATHON PETROLEUM CORPORATION</name>
        <lei>3BNYRYQHD39K4LCKQF12</lei>
        <title>MARATHON PETROLEUM CORP.</title>
        <cusip>56585A102</cusip>
        <identifiers>
          <isin value="US56585A1025"/>
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        <balance>8951.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>543773.25000000</valUSD>
        <pctVal>0.143902946094</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SANY HEAVY INDUSTRY CO., LTD</name>
        <lei>3003001FS86S7NYOHV89</lei>
        <title>SANY HEAVY INDUSTRY CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001F70"/>
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        <balance>4600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.13840000"/>
        <valUSD>9244.75000000</valUSD>
        <pctVal>0.002446510123</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BECTON, DICKINSON AND COMPANY</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
        <title>BECTON DICKINSON AND CO</title>
        <cusip>075887BV0</cusip>
        <identifiers>
          <isin value="US075887BV02"/>
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        <balance>120000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>124848.36000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.36300000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Thai Oil Public Company Limited</name>
        <lei>549300HG5527UPZLTT69</lei>
        <title>THAI OIL PUBLIC CO. LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TH0796010005"/>
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        <balance>38300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.58000000"/>
        <valUSD>87450.99000000</valUSD>
        <pctVal>0.023142835915</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RELX PLC</name>
        <lei>549300WSX3VBUFFJOO66</lei>
        <title>RELX PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B2B0DG97"/>
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        <balance>1020.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81347000"/>
        <valUSD>24195.25000000</valUSD>
        <pctVal>0.006402977263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ELECTRONIC ARTS INC</name>
        <lei>N/A</lei>
        <title>ELECTRONIC ARTS INC</title>
        <cusip>N/A</cusip>
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          <isin value="US2855121099"/>
          <other otherDesc="Internal" value="285512109"/>
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        <balance>-7.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-684.74000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>J.P. MORGAN SECURITIES LLC</counterpartyName>
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            <terminationDt>2039-12-31</terminationDt>
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            <delta>XXXX</delta>
            <unrealizedAppr>-6.13000000</unrealizedAppr>
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      <invstOrSec>
        <name>SPDR S&amp;P 500 ETF Trust</name>
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        <identifiers>
          <isin value="N/A"/>
          <ticker value="SPY"/>
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        <balance>-336013.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-10372.00000000</valUSD>
        <pctVal>-0.00274482306</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>SPDR S&amp;P 500 ETF Trust</issuerName>
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            <shareNo>336013.00000000</shareNo>
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      <invstOrSec>
        <name>PAYB IRS PAYB CAD CDOR03</name>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>BANK OF AMERICA</counterpartyName>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>PHILLIPS 66</name>
        <lei>5493005JBO5YSIGK1814</lei>
        <title>PHILLIPS 66</title>
        <cusip>718546104</cusip>
        <identifiers>
          <isin value="US7185461040"/>
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        <balance>317.00000000</balance>
        <units>NS</units>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CHINA RESOURCES CEMENT HOLDINGS LIMITED</name>
        <lei>529900E0EOYXYJ0GHY66</lei>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CAPITALAND LIMITED</name>
        <lei>2549006LYGY45GHGWZ89</lei>
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        <cusip>N/A</cusip>
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          <isin value="XS0974106238"/>
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        <balance>250000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>SG</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>CAPITALAND LTD</title>
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                <isin value="SG1J27887962"/>
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            <currencyInfo convRatio="59614.65090000" curCd="SGD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>HCA HEALTHCARE, INC.</name>
        <lei>529900PH4ZGUH2MNEU89</lei>
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          <isin value="US40412C1018"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>AGC Inc.</name>
        <lei>JE4WFFEELMVPFZ0G1E77</lei>
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          <isin value="JP3112000009"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MCDONALD'S CORPORATION</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>MCDONALD'S CORP</title>
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          <isin value="US58013MFE93"/>
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        <balance>164000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>170783.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COMPAGNIE DE SAINT-GOBAIN S.A.</name>
        <lei>NFONVGN05Z0FMN5PEC35</lei>
        <title>COMPAGNIE DE SAINT-GOBAIN</title>
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          <isin value="FR0000125007"/>
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        <balance>4942.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ABN AMRO Bank N.V.</name>
        <lei>BFXS5XCH7N0Y05NIXW11</lei>
        <title>ABN AMRO GROUP NV-CVA W/I</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0011540547"/>
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        <balance>68184.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>THE KRAFT HEINZ COMPANY</name>
        <lei>N/A</lei>
        <title>KRAFT HEINZ CO/THE</title>
        <cusip>500754106</cusip>
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          <isin value="US5007541064"/>
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        <balance>236.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TOTAL SA</name>
        <lei>529900S21EQ1BO4ESM68</lei>
        <title>TOTAL SA - ADR</title>
        <cusip>89151E109</cusip>
        <identifiers>
          <isin value="US89151E1091"/>
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        <balance>380.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19760.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NMC HEALTH PLC</name>
        <lei>2138008YQEVWBE1V2M52</lei>
        <title>NMC HEALTH PLC</title>
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        <identifiers>
          <isin value="GB00B7FC0762"/>
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        <balance>18442.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.81347000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>STARBUCKS CORPORATION</name>
        <lei>OQSJ1DU9TAOC51A47K68</lei>
        <title>STARBUCKS CORP</title>
        <cusip>855244AN9</cusip>
        <identifiers>
          <isin value="US855244AN97"/>
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        <balance>265000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>273796.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIGROUP CAPITAL XIII</name>
        <lei>N/A</lei>
        <title>CITIGROUP CAPITAL XIII</title>
        <cusip>173080201</cusip>
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          <isin value="US1730802014"/>
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        <balance>12329.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>338184.47000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>FAMILYMART UNY HOLDINGS LTD</name>
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        <title>FAMILYMART UNY HOLDINGS LTD</title>
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          <isin value="JP3802600001"/>
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        <balance>-600.00000000</balance>
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        <assetCat>DE</assetCat>
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        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>EMERSON ELECTRIC CO.</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
        <title>EMERSON ELECTRIC CO.</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>FORMOSA PETROCHEMICAL CORPORATION</name>
        <lei>529900UWWAOQ8470E792</lei>
        <title>FORMOSA PETROCHEMICAL CORP</title>
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        <identifiers>
          <isin value="TW0006505001"/>
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        <balance>24000.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="31.02300000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <balance>7993200.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>EUR/USD (PUT OPTION)</name>
        <lei>N/A</lei>
        <title>EUR/USD (PUT OPTION)</title>
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          <other otherDesc="Internal" value="BRTVEKXW5"/>
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        <balance>5480.00000000</balance>
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        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <other otherDesc="Internal" value="EUR_20191101_MORGANSTANLEY_427387"/>
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        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <derivativeInfo>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCK &amp; CO., INC.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MERCK &amp; CO., INC.</title>
        <cusip>58933Y105</cusip>
        <identifiers>
          <isin value="US58933Y1055"/>
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        <name>GILEAD SCIENCES, INC.</name>
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        <name>Sinopec Shanghai Petrochemical Company Limited</name>
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        <name>DUPONT DE NEMOURS, INC.</name>
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        <name>COMCAST CORPORATION</name>
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        <name>Zoomlion Heavy Industry Science And Technology Co., Ltd</name>
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        <name>Cellnex Telecom S.A.</name>
        <lei>5493008T4YG3AQUI7P67</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FIFTH THIRD BANCORP</name>
        <lei>THRNG6BD57P9QWTQLG42</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>FEDEX CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
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                <issuerName>FEDEX CORP</issuerName>
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              <notionalAmt amt="-14564.04000000" curCd="USD"/>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>ELECTRICITE DE FRANCE SA</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALPS ALPINE CO., LTD.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>THOMSON REUTERS CORPORATION</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>GLOBAL PAYMENTS INC.</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>GLOBAL PAYMENTS, INC.</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>TURKCELL ILETISIM HIZMETLERI ANONIM SIRKETI</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Dropbox Inc</name>
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        <name>MCKESSON CORPORATION</name>
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        <name>Yanzhou Coal Mining Company Limited</name>
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        <name>DISCOVER FINANCIAL SERVICES</name>
        <lei>Z1YLO2USPORE63VVUL20</lei>
        <title>DISCOVER FINANCIAL SERVICES</title>
        <cusip>254709108</cusip>
        <identifiers>
          <isin value="US2547091080"/>
        </identifiers>
        <balance>490.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39734.10000000</valUSD>
        <pctVal>0.010515144042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW ZEALAND DOLLAR</name>
        <lei>N/A</lei>
        <title>NEW ZEALAND DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="NZD_20191206_GOLDMANSACHS_433563"/>
        </identifiers>
        <balance>-599000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <currencyConditional curCd="NZD" exchangeRt="1.00000000"/>
        <valUSD>-7221.24000000</valUSD>
        <pctVal>-0.00191101292</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>NZ</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <amtCurSold>382768.13000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>599000.00000000</amtCurPur>
            <curPur>NZD</curPur>
            <settlementDt>2019-12-06</settlementDt>
            <unrealizedAppr>-7221.24</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AGILENT TECHNOLOGIES, INC.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
        <title>AGILENT TECHNOLOGIES INC (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="A"/>
        </identifiers>
        <balance>-36.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2808.00000000</valUSD>
        <pctVal>-0.00074310288</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>AGILENT TECHNOLOGIES, INC.</issuerName>
                <issueTitle>AGILENT TECHNOLOGIES INC (PUT OPTION)</issueTitle>
                <identifiers>
                  <cusip value="00846U101"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>36.00000000</shareNo>
            <exercisePrice>70</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-11-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-260.63</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>USB CAPITAL IX</name>
        <lei>N/A</lei>
        <title>USB CAPITAL IX</title>
        <cusip>91731KAA8</cusip>
        <identifiers>
          <isin value="US91731KAA88"/>
        </identifiers>
        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>64593.75000000</valUSD>
        <pctVal>0.017093946648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PAYB IRS USD 3M LIBOR</name>
        <lei>N/A</lei>
        <title>PAYB IRS USD 3M LIBOR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTWE05B4"/>
        </identifiers>
        <balance>1932000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-19237.50000000</valUSD>
        <pctVal>-0.00509096930</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="INTEREST RATE SWAP" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>BANK OF AMERICA</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>PAYB IRS USD 3M LIBOR</indexName>
                <indexIdentifier>US0003M</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>N</swapFlag>
            <fixedRecDesc amount="0.00" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.28"/>
            <floatingPmntDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="US0003M" floatingRtSpread="0" pmntAmt="-1932000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="3" resetDt="Month" resetDtUnit="3"/>
              </rtResetTenors>
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            <terminationDt>2024-11-29</terminationDt>
            <upfrontPmnt>0</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>1932000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-19237.5</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HYUNDAI MOBIS CO.,LTD</name>
        <lei>988400HJA9E0ZVDHRS65</lei>
        <title>HYUNDAI PRECISION INDUSTRY COMPANY</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7012330007"/>
        </identifiers>
        <balance>19.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1196.00000000"/>
        <valUSD>4013.81000000</valUSD>
        <pctVal>0.001062205770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEWMONT GOLDCORP CORPORATION</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>NEWMONT GOLDCORP CORP</title>
        <cusip>651639106</cusip>
        <identifiers>
          <isin value="US6516391066"/>
        </identifiers>
        <balance>28682.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1087621.44000000</valUSD>
        <pctVal>0.287825724144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Philip Morris International Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTERNATIONAL</title>
        <cusip>718172109</cusip>
        <identifiers>
          <isin value="US7181721090"/>
        </identifiers>
        <balance>11835.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>898631.55000000</valUSD>
        <pctVal>0.237811859076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Weichai Power Co., Ltd.</name>
        <lei>529900OKTPKBG85F9502</lei>
        <title>WEICHAI POWER CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000004L9"/>
        </identifiers>
        <balance>5000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>7249.63000000</valUSD>
        <pctVal>0.001918525994</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANCO DO BRASIL S.A.</name>
        <lei>QE0Q0253K88YAGNPE356</lei>
        <title>BANCO DO BRASIL S.A.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRBBASACNOR3"/>
        </identifiers>
        <balance>1390.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15460000"/>
        <valUSD>15219.54000000</valUSD>
        <pctVal>0.004027665289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANHUI CONCH CEMENT COMPANY LIMITED</name>
        <lei>529900HS6X8TTV0FHV63</lei>
        <title>ANHUI CONCH CEMENT CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000001W2"/>
        </identifiers>
        <balance>4000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>23859.35000000</valUSD>
        <pctVal>0.006314085433</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LG Uplus Corp</name>
        <lei>N/A</lei>
        <title>LG UPLUS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7032640005"/>
        </identifiers>
        <balance>1760.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1196.00000000"/>
        <valUSD>20123.90000000</valUSD>
        <pctVal>0.005325544235</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HONGKONG LAND HOLDINGS, LTD.</name>
        <lei>N/A</lei>
        <title>HONGKONG LAND HOLDINGS, LTD.</title>
        <cusip>G4587L109</cusip>
        <identifiers>
          <isin value="BMG4587L1090"/>
        </identifiers>
        <balance>7800.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>43948.53000000</valUSD>
        <pctVal>0.011630441445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMBEV S.A.</name>
        <lei>549300TH5Q6VRP8OT012</lei>
        <title>AMBEV SA COM NPV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRABEVACNOR1"/>
        </identifiers>
        <balance>1396.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15460000"/>
        <valUSD>6468.25000000</valUSD>
        <pctVal>0.001711743325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Pemerintah Republik Indonesia</name>
        <lei>529900FWX0GRR7WG5W79</lei>
        <title>INDONESIA GOVERNMENT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IDG000012907"/>
        </identifiers>
        <balance>12116000000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="IDR" exchangeRt="14190.00000000"/>
        <valUSD>908742.69000000</valUSD>
        <pctVal>0.240487648726</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FEDEX CORPORATION</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FEDEX CORP (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="FDX"/>
        </identifiers>
        <balance>-3156.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-12118.62000000</valUSD>
        <pctVal>-0.00320704470</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>FEDEX CORPORATION</issuerName>
                <issueTitle>FEDEX CORP (PUT OPTION)</issueTitle>
                <identifiers>
                  <cusip value="31428X106"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>3156.00000000</shareNo>
            <exercisePrice>130</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>3266.33</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALPHABET INC.</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC - CLASS C</title>
        <cusip>02079K107</cusip>
        <identifiers>
          <isin value="US02079K1079"/>
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        <balance>5264.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6416816.00000000</valUSD>
        <pctVal>1.698131945524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LENOVO GROUP LIMITED</name>
        <lei>254900VUZRGD5U73RE46</lei>
        <title>LENOVO GROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0992009065"/>
        </identifiers>
        <balance>100000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>66533.67000000</valUSD>
        <pctVal>0.017607322771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LG ELECTRONICS INC.</name>
        <lei>988400RMQFTGZIOG0609</lei>
        <title>LG ELECTRONICS, INC.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7066570003"/>
        </identifiers>
        <balance>826.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1196.00000000"/>
        <valUSD>46375.67000000</valUSD>
        <pctVal>0.012272754388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE HOME DEPOT, INC.</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>HOME DEPOT, INC.</title>
        <cusip>437076102</cusip>
        <identifiers>
          <isin value="US4370761029"/>
        </identifiers>
        <balance>4708.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1092350.16000000</valUSD>
        <pctVal>0.289077122110</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEXTERA ENERGY, INC.</name>
        <lei>N/A</lei>
        <title>NEXTERA ENERGY INC</title>
        <cusip>65339F101</cusip>
        <identifiers>
          <isin value="US65339F1012"/>
        </identifiers>
        <balance>10465.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2438240.35000000</valUSD>
        <pctVal>0.645250515084</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KLA Corporation</name>
        <lei>549300H0BF5JCG96TJ81</lei>
        <title>KLA CORP</title>
        <cusip>482480100</cusip>
        <identifiers>
          <isin value="US4824801009"/>
        </identifiers>
        <balance>355.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56604.75000000</valUSD>
        <pctVal>0.014979755418</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EURO STOXX 50 PRICE INDEX (PUT OPTION)</name>
        <lei>N/A</lei>
        <title>EURO STOXX 50 PRICE INDEX (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SX7E"/>
          <other otherDesc="Internal" value="BRTH206G8"/>
        </identifiers>
        <balance>-4268.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>-141401.65000000</valUSD>
        <pctVal>-0.03742021884</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>EURO STOXX 50 PRICE INDEX (PUT OPTION)</indexName>
                <indexIdentifier>SX7E </indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>4268.00000000</shareNo>
            <exercisePrice>106</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2021-06-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-72525.2</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Air China Limited</name>
        <lei>213800I9TWC9K22N4502</lei>
        <title>AIR CHINA LIMITED</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000001S0"/>
        </identifiers>
        <balance>2000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>1771.27000000</valUSD>
        <pctVal>0.000468744961</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VOLKSWAGEN AG</name>
        <lei>N/A</lei>
        <title>VOLKSWAGEN AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0007664005"/>
          <other otherDesc="Internal" value="S54971023"/>
        </identifiers>
        <balance>-189.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>-32481.81000000</valUSD>
        <pctVal>-0.00859591411</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>VOLKSWAGEN AG</issuerName>
                <issueTitle>VOLKSWAGEN AG</issueTitle>
                <identifiers>
                  <isin value="DE0007664005"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-31543.60000000" curCd="USD"/>
            </notionalAmts>
            <delta>XXXX</delta>
            <unrealizedAppr>-938.21000000</unrealizedAppr>
          </othDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. TREASURY NOTE</title>
        <cusip>9128285J5</cusip>
        <identifiers>
          <isin value="US9128285J52"/>
        </identifiers>
        <balance>3877800.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4189841.72000000</valUSD>
        <pctVal>1.108790414346</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</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>REGIONS FINANCIAL CORPORATION</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>REGIONS FINANCIAL CORP.</title>
        <cusip>7591EP100</cusip>
        <identifiers>
          <isin value="US7591EP1005"/>
        </identifiers>
        <balance>42108.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>666148.56000000</valUSD>
        <pctVal>0.176288076547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED OVERSEAS BANK LIMITED</name>
        <lei>IO66REGK3RCBAMA8HR66</lei>
        <title>UNITED OVERSEAS BANK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SG1M31001969"/>
        </identifiers>
        <balance>8800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.38180000"/>
        <valUSD>163063.67000000</valUSD>
        <pctVal>0.043152807744</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GBP/USD (PUT OPTION)</name>
        <lei>N/A</lei>
        <title>GBP/USD (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTSHZE80"/>
        </identifiers>
        <balance>-63230.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81347000"/>
        <valUSD>-131095.20000000</valUSD>
        <pctVal>-0.03469274279</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Option" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GBP/USD (PUT OPTION)</issuerName>
                <issueTitle>GBP/USD (PUT OPTION)</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <principalAmt>100.00000000</principalAmt>
            <curCd>GBP</curCd>
            <exercisePrice>1</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-10-08</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-49398.43</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPDR Gold Shares</name>
        <lei>N/A</lei>
        <title>SPDR GOLD SHARES (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="GLD"/>
        </identifiers>
        <balance>-107.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-13214.50000000</valUSD>
        <pctVal>-0.00349705595</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SPDR Gold Shares</issuerName>
                <issueTitle>SPDR GOLD SHARES (PUT OPTION)</issueTitle>
                <identifiers>
                  <cusip value="78463V107"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>107.00000000</shareNo>
            <exercisePrice>134</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-4428.69</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BEIJING ENTERPRISES HOLDINGS LIMITED</name>
        <lei>529900896ODARUEY2V26</lei>
        <title>BEIJING ENTERPRISES HOLDINGS LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0392044647"/>
        </identifiers>
        <balance>3500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>16137.92000000</valUSD>
        <pctVal>0.004270703334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA CITIC BANK CORPORATION LIMITED</name>
        <lei>300300C1030211000384</lei>
        <title>CHINA CITIC BANK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000001Q4"/>
        </identifiers>
        <balance>26000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>13902.61000000</valUSD>
        <pctVal>0.003679155856</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FACEBOOK, INC.</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>FACEBOOK INC.</title>
        <cusip>30303M102</cusip>
        <identifiers>
          <isin value="US30303M1027"/>
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        <balance>9713.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1729691.04000000</valUSD>
        <pctVal>0.457741598155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PAYB IRS PAYB CAD CDOR03</name>
        <lei>N/A</lei>
        <title>PAYB IRS PAYB CAD CDOR03</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTV1UE24"/>
        </identifiers>
        <balance>5670000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional</descOthUnits>
        <currencyConditional curCd="CAD" exchangeRt="1.32470000"/>
        <valUSD>1514.93000000</valUSD>
        <pctVal>0.000400907713</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="INTEREST RATE SWAP" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>BANK OF AMERICA</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>PAYB IRS PAYB CAD CDOR03</indexName>
                <indexIdentifier>CDOR03</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <swapFlag>N</swapFlag>
            <fixedRecDesc amount="0.00" curCd="CAD" fixedOrFloating="Fixed" fixedRt="1.9075"/>
            <floatingPmntDesc curCd="CAD" fixedOrFloating="Floating" floatingRtIndex="CDOR03" floatingRtSpread="0" pmntAmt="-5670000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="3" resetDt="Month" resetDtUnit="3"/>
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            <terminationDt>2021-07-09</terminationDt>
            <upfrontPmnt>0</upfrontPmnt>
            <pmntCurCd>CAD</pmntCurCd>
            <upfrontRcpt>0</upfrontRcpt>
            <rcptCurCd>CAD</rcptCurCd>
            <notionalAmt>4280214.38816335</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>1528.16</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ING Groep N.V.</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING GROEP NV</title>
        <cusip>456837AE3</cusip>
        <identifiers>
          <isin value="US456837AE31"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>201750.00000000</valUSD>
        <pctVal>0.053390672260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FISERV, INC.</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>FISERV INC</title>
        <cusip>337738AS7</cusip>
        <identifiers>
          <isin value="US337738AS78"/>
        </identifiers>
        <balance>933000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>949154.90000000</valUSD>
        <pctVal>0.251182246294</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Republica Argentina</name>
        <lei>549300KPBYGYF7HCHO27</lei>
        <title>REPUBLIC OF ARGENTINA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS0205545840"/>
        </identifiers>
        <balance>231762.00900000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <invCountry>AR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COMCAST CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Otsuka Holdings Co., Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Compagnie des chemins de fer nationaux du Canada</name>
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          <isin value="CA1363751027"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
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          <other otherDesc="Internal" value="USD_20191003_JPMORGANCHASE_415660"/>
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        <balance>4104000.00000000</balance>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <fwdDeriv derivCat="FWD">
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      <invstOrSec>
        <name>SWISS FRANC</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal" value="CHF_20191108_UBSWARBURG_425086"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sandvik Aktiebolag</name>
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          <isin value="SE0000667891"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>China Petroleum &amp; Chemical Corporation</name>
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          <isin value="CNE1000002Q2"/>
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        <balance>46000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>MARVELL TECHNOLOGY GROUP LTD.</name>
        <lei>8DF36O58U3QIHUCGZB18</lei>
        <title>MARVELL TECHNOLOGY GROUP LTD.</title>
        <cusip>G5876H105</cusip>
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          <isin value="BMG5876H1051"/>
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        <balance>10215.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>255068.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NCSOFT CORPORATION</name>
        <lei>N/A</lei>
        <title>NCSOFT CORP.</title>
        <cusip>N/A</cusip>
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          <isin value="KR7036570000"/>
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        <balance>323.00000000</balance>
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        <currencyConditional curCd="KRW" exchangeRt="1196.00000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>U.S. DOLLAR</name>
        <lei>N/A</lei>
        <title>U.S. DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="USD_20191206_CREDITSUISSE_431240"/>
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        <balance>4357644.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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        <securityLending>
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      <invstOrSec>
        <name>QUALCOMM INCORPORATED</name>
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          <isin value="N/A"/>
          <ticker value="QCOM"/>
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        <balance>-6695.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-455.00000000</valUSD>
        <pctVal>-0.00012041019</pctVal>
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        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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            <shareNo>6695.00000000</shareNo>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GENERAL MOTORS COMPANY</name>
        <lei>54930070NSV60J38I987</lei>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>WOOLWORTHS GROUP LIMITED</name>
        <lei>QNWEWQBS7HP85QHXQL92</lei>
        <title>WOOLWORTHS GROUP LTD</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <name>CENTRAIS ELETR BRAS-ELETROBRAS SER</name>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>COMPAGNIE FINANCIERE RICHEMONT SA</name>
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          <isin value="CH0210483332"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>iShares Russell 2000 ETF</name>
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          <isin value="N/A"/>
          <ticker value="IWM"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Put</putOrCall>
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                <issuerName>iShares Russell 2000 ETF</issuerName>
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            <shareNo>39.00000000</shareNo>
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      <invstOrSec>
        <name>Republica Argentina</name>
        <lei>549300KPBYGYF7HCHO27</lei>
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          <isin value="US040114HL72"/>
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        <invCountry>AR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-01-26</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>CLP HOLDINGS LIMITED</name>
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          <isin value="HK0002007356"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Japan</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>JAPAN TREASURY DISCOUNT BILL</title>
        <cusip>N/A</cusip>
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          <isin value="JP1748481K87"/>
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        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-05</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DOVER CORPORATION</name>
        <lei>549300FMC2ALGA7N9E80</lei>
        <title>DOVER CORP.</title>
        <cusip>260003108</cusip>
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          <isin value="US2600031080"/>
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        <balance>7774.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Deutsche Boerse Aktiengesellschaft</name>
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        <title>DEUTSCHE BOERSE AG</title>
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          <isin value="DE0005810055"/>
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        <balance>11.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COMCAST CORPORATION</name>
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        <title>COMCAST CORP (CALL OPTION)</title>
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          <isin value="N/A"/>
          <ticker value="CMCSA"/>
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        <balance>-12216.00000000</balance>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>COMCAST CORPORATION</issuerName>
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            <shareNo>12216.00000000</shareNo>
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            <unrealizedAppr>-60038.69</unrealizedAppr>
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      <invstOrSec>
        <name>AGILENT TECHNOLOGIES, INC.</name>
        <lei>QUIX8Y7A2WP0XRMW7G29</lei>
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          <isin value="US00846U1016"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FOX CORP CLASS A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="US35137L1052"/>
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        <balance>-183.00000000</balance>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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              <counterpartyName>JP MORGAN SECURITIES PLC</counterpartyName>
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                <issuerName>FOX CORP CLASS A</issuerName>
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            <terminationDt>2039-12-31</terminationDt>
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            <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ABBOTT LABORATORIES</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>ABBOTT LABORATORIES</title>
        <cusip>002824100</cusip>
        <identifiers>
          <isin value="US0028241000"/>
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        <balance>2364.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>197795.88000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Far EasTone Telecommunications Co., Ltd.</name>
        <lei>529900L7W7BWDLVZL253</lei>
        <title>FAR EASTONE TELECOMMUNICATIONS CO LTD</title>
        <cusip>N/A</cusip>
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        <balance>133000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.02300000"/>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NASDAQ 100 STOCK INDEX (CALL OPTION)</name>
        <lei>N/A</lei>
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        <identifiers>
          <ticker value="NDX"/>
          <other otherDesc="Internal" value="BRTVUXCC6"/>
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        <balance>98.00000000</balance>
        <units>NC</units>
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        <valUSD>4835.77000000</valUSD>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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      <invstOrSec>
        <name>FUJIFILM Holdings Corporation</name>
        <lei>529900UBKMFM0ST6H474</lei>
        <title>FUJI PHOTO FILM CO., LTD.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>YAMATO KOGYO CO.,LTD.</name>
        <lei>N/A</lei>
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        <balance>2700.00000000</balance>
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        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>TOKYO GAS CO.,LTD.</name>
        <lei>353800678EIJLOQSWZ83</lei>
        <title>TOKYO GAS CO LTD</title>
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        <identifiers>
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        <balance>48000.00000000</balance>
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        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HALLIBURTON COMPANY</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
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          <isin value="N/A"/>
          <ticker value="HAL"/>
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        <isRestrictedSec>N</isRestrictedSec>

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            <shareNo>13346.00000000</shareNo>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>L3HARRIS TECHNOLOGIES, INC.</name>
        <lei>549300UTE50ZMDBG8A20</lei>
        <title>L3HARRIS TECHNOLOGIES INC</title>
        <cusip>502431109</cusip>
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          <isin value="US5024311095"/>
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        <valUSD>47361.28000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHARP CORP</name>
        <lei>N/A</lei>
        <title>SHARP CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3359600008"/>
          <other otherDesc="Internal" value="CFC680060"/>
        </identifiers>
        <balance>-800.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>-8842.86000000</valUSD>
        <pctVal>-0.00234015484</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS LIMITED</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SHARP CORP</issuerName>
                <issueTitle>SHARP CORP</issueTitle>
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                  <isin value="JP3359600008"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-9959.58000000" curCd="USD"/>
            </notionalAmts>
            <delta>XXXX</delta>
            <unrealizedAppr>1116.72000000</unrealizedAppr>
          </othDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHINA LONGYUAN POWER GROUP CORPORATION LIMITED</name>
        <lei>5299008UYLF3O6V9T464</lei>
        <title>CHINA LONGYUAN POWER GROUP CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000HD4"/>
        </identifiers>
        <balance>9000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>5055.80000000</valUSD>
        <pctVal>0.001337955691</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APTIV PLC</name>
        <lei>N/A</lei>
        <title>APTIV PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JE00B783TY65"/>
          <other otherDesc="Internal" value="SB783TY66"/>
        </identifiers>
        <balance>-212.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-18533.04000000</valUSD>
        <pctVal>-0.00490454257</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>APTIV PLC</issuerName>
                <issueTitle>APTIV PLC</issueTitle>
                <identifiers>
                  <isin value="JE00B783TY65"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-17779.08000000" curCd="USD"/>
            </notionalAmts>
            <delta>XXXX</delta>
            <unrealizedAppr>-753.96000000</unrealizedAppr>
          </othDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STARBUCKS CORPORATION</name>
        <lei>OQSJ1DU9TAOC51A47K68</lei>
        <title>STARBUCKS CORPORATION</title>
        <cusip>855244109</cusip>
        <identifiers>
          <isin value="US8552441094"/>
        </identifiers>
        <balance>590.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>52167.80000000</valUSD>
        <pctVal>0.013805570817</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPDR S&amp;P 500 ETF Trust</name>
        <lei>N/A</lei>
        <title>SPDR S&amp;P 500 ETF TRUST (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="SPY"/>
        </identifiers>
        <balance>79.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>39263.00000000</valUSD>
        <pctVal>0.010390473184</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SPDR S&amp;P 500 ETF Trust</issuerName>
                <issueTitle>SPDR S&amp;P 500 ETF TRUST (CALL OPTION)</issueTitle>
                <identifiers>
                  <cusip value="78462F103"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>79.00000000</shareNo>
            <exercisePrice>307</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>10099.93</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NEW ZEALAND DOLLAR</name>
        <lei>N/A</lei>
        <title>NEW ZEALAND DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="NZD_20191216_UBSWARBURG_435708"/>
        </identifiers>
        <balance>-593000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <currencyConditional curCd="NZD" exchangeRt="1.00000000"/>
        <valUSD>-9364.82000000</valUSD>
        <pctVal>-0.00247828518</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>NZ</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS WARBURG</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <amtCurSold>381230.81000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>593000.00000000</amtCurPur>
            <curPur>NZD</curPur>
            <settlementDt>2019-12-16</settlementDt>
            <unrealizedAppr>-9364.82</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IQIYI ADS REPRESENTING INC CLASS</name>
        <lei>N/A</lei>
        <title>IQIYI ADS REPRESENTING INC CLASS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US46267X1081"/>
          <other otherDesc="Internal" value="46267X108"/>
        </identifiers>
        <balance>-2378.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-38357.14000000</valUSD>
        <pctVal>-0.01015074840</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>JP MORGAN SECURITIES PLC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>IQIYI ADS REPRESENTING INC CLASS</issuerName>
                <issueTitle>IQIYI ADS REPRESENTING INC CLASS</issueTitle>
                <identifiers>
                  <isin value="US46267X1081"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-56971.82000000" curCd="USD"/>
            </notionalAmts>
            <delta>XXXX</delta>
            <unrealizedAppr>18614.68000000</unrealizedAppr>
          </othDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mondelez International, Inc.</name>
        <lei>549300DV9GIB88LZ5P30</lei>
        <title>MONDELEZ INTERNATIONAL INC</title>
        <cusip>609207105</cusip>
        <identifiers>
          <isin value="US6092071058"/>
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        <balance>2906.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>160759.92000000</valUSD>
        <pctVal>0.042543148457</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO.</title>
        <cusip>46625H100</cusip>
        <identifiers>
          <isin value="US46625H1005"/>
        </identifiers>
        <balance>37432.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4405372.08000000</valUSD>
        <pctVal>1.165827890494</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GEELY AUTOMOBILE HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>GEELY AUTOMOBILE HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG3777B1032"/>
          <other otherDesc="Internal" value="S65318271"/>
        </identifiers>
        <balance>-14000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>-23757.58000000</valUSD>
        <pctVal>-0.00628715324</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>J.P. MORGAN</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GEELY AUTOMOBILE HOLDINGS LTD</issuerName>
                <issueTitle>GEELY AUTOMOBILE HOLDINGS LTD</issueTitle>
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                  <isin value="KYG3777B1032"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-22748.80000000" curCd="USD"/>
            </notionalAmts>
            <delta>XXXX</delta>
            <unrealizedAppr>-1008.78000000</unrealizedAppr>
          </othDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INDUST PENOLES</name>
        <lei>N/A</lei>
        <title>INDUST PENOLES</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MXP554091415"/>
          <other otherDesc="Internal" value="S24482002"/>
        </identifiers>
        <balance>-181.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="MXN" exchangeRt="19.73100000"/>
        <valUSD>-2409.57000000</valUSD>
        <pctVal>-0.00063766325</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>INDUST PENOLES</issuerName>
                <issueTitle>INDUST PENOLES</issueTitle>
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                  <isin value="MXP554091415"/>
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            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-3070.39000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>660.82000000</unrealizedAppr>
          </othDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GLENCORE PLC</name>
        <lei>2138002658CPO9NBH955</lei>
        <title>GLENCORE PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JE00B4T3BW64"/>
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        <balance>2384.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81347000"/>
        <valUSD>7180.97000000</valUSD>
        <pctVal>0.001900355964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AGILENT TECHNOLOGIES INC (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>AGILENT TECHNOLOGIES INC (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="A"/>
          <other otherDesc="Internal" value="BRTTPWGU5"/>
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        <balance>-5449.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-12836.81000000</valUSD>
        <pctVal>-0.00339710490</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>AGILENT TECHNOLOGIES INC (CALL OPTION)</issuerName>
                <issueTitle>AGILENT TECHNOLOGIES INC (CALL OPTION)</issueTitle>
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            <shareNo>5449.00000000</shareNo>
            <exercisePrice>81</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-3499.95</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HONEYWELL INTERNATIONAL INC.</name>
        <lei>ISRPG12PN4EIEOEMW547</lei>
        <title>HONEYWELL INTERNATIONAL, INC.</title>
        <cusip>438516106</cusip>
        <identifiers>
          <isin value="US4385161066"/>
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        <balance>335.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56682.00000000</valUSD>
        <pctVal>0.015000198686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UBS Group Funding (Switzerland) AG</name>
        <lei>506700Q800G1L95S7805</lei>
        <title>UBS GROUP FUNDING</title>
        <cusip>90351DAB3</cusip>
        <identifiers>
          <isin value="US90351DAB38"/>
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        <balance>207000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>223274.55000000</valUSD>
        <pctVal>0.059086881403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMOREG</name>
        <lei>N/A</lei>
        <title>AMOREG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7002790004"/>
          <other otherDesc="Internal" value="S66659319"/>
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        <balance>-173.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="KRW" exchangeRt="1196.00000000"/>
        <valUSD>-9460.03000000</valUSD>
        <pctVal>-0.00250348134</pctVal>
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        <isRestrictedSec>N</isRestrictedSec>

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        <isRestrictedSec>N</isRestrictedSec>

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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>QUALCOMM INC (CALL OPTION)</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>SPDR Gold Shares</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Reino de Espana</name>
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          <isin value="ES0000012F43"/>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EURO STOXX 50 PRICE INDEX (PUT OPTION)</name>
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          <ticker value="SX5E"/>
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        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SUZUKEN CO.,LTD.</name>
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        <title>SUZUKEN CO. LTD.</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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        <name>GBP/USD (CALL OPTION)</name>
        <lei>N/A</lei>
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          <other otherDesc="Internal" value="BRTSHZCV1"/>
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        <assetCat>DFE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <putOrCall>Call</putOrCall>
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            <principalAmt>100.00000000</principalAmt>
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      <invstOrSec>
        <name>SOCIETE AURIFERE BARRICK</name>
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        <title>BARRICK GOLD CORP</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>STANLEY BLACK &amp; DECKER, INC.</name>
        <lei>549300DJ09SMTO561131</lei>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Magna International Inc.</name>
        <lei>95RWVLFZX6VGDZNNTN43</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>PGE POLSKA GRUPA ENERGETYCZNA SA</name>
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      <invstOrSec>
        <name>LOWE'S COS INC (CALL OPTION)</name>
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        <name>AMERIPRISE FINANCIAL, INC.</name>
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        <name>AEGON N.V.</name>
        <lei>O4QK7KMMK83ITNTHUG69</lei>
        <title>AEGON NV</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>JOHNSON &amp; JOHNSON</name>
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        <title>JOHNSON &amp; JOHNSON</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      </invstOrSec>
      <invstOrSec>
        <name>Telia Company AB</name>
        <lei>213800FSR9RNDUOTXO25</lei>
        <title>TELIA CO AB</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SE0000667925"/>
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        <balance>136.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.84120000"/>
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        <pctVal>0.000161257031</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>QUALCOMM INC (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>QUALCOMM INC (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="QCOM"/>
          <other otherDesc="Internal" value="BRTU0GNZ5"/>
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        <balance>-7025.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-10923.21000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>QUALCOMM INC (CALL OPTION)</issuerName>
                <issueTitle>QUALCOMM INC (CALL OPTION)</issueTitle>
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                  <cusip value="747525103"/>
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            </descRefInstrmnt>
            <shareNo>7025.00000000</shareNo>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>-420.83</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DIAGEO PLC</name>
        <lei>213800ZVIELEA55JMJ32</lei>
        <title>DIAGEO PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0002374006"/>
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        <balance>740.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81347000"/>
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        <pctVal>0.008011858530</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORPORATION</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCE  CO</title>
        <cusip>14040HBT1</cusip>
        <identifiers>
          <isin value="US14040HBT14"/>
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        <balance>245000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>253070.79000000</valUSD>
        <pctVal>0.066972092230</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP.</title>
        <cusip>060505104</cusip>
        <identifiers>
          <isin value="US0605051046"/>
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        <balance>73471.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2143149.07000000</valUSD>
        <pctVal>0.567158213635</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>USD/JPY (PUT OPTION)</name>
        <lei>N/A</lei>
        <title>USD/JPY (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTXAPAS8"/>
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        <balance>45490.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>27653.01000000</valUSD>
        <pctVal>0.007318031196</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>USD/JPY (PUT OPTION)</issuerName>
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                  <cusip value="000000000"/>
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            <principalAmt>100.00000000</principalAmt>
            <curCd>USD</curCd>
            <exercisePrice>102</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-03-11</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-4303.72</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC</title>
        <cusip>172967JZ5</cusip>
        <identifiers>
          <isin value="US172967JZ57"/>
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        <balance>241000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>244615.00000000</valUSD>
        <pctVal>0.064734370730</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PINDUODUO ADR REPRESENTING INC</name>
        <lei>N/A</lei>
        <title>PINDUODUO ADR REPRESENTING INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US7223041028"/>
          <other otherDesc="Internal" value="722304102"/>
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        <balance>-440.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-14176.80000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>PINDUODUO ADR REPRESENTING INC</issuerName>
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                  <isin value="US7223041028"/>
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            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-11981.42000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-2195.38000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>U.S. DOLLAR</name>
        <lei>N/A</lei>
        <title>U.S. DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="USD_20191218_BANKNATIONALPARIS_436792"/>
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        <balance>176880270.00000000</balance>
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        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-1086.18000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK NATIONAL PARIS</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>176880270.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>1645000.00000000</amtCurPur>
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            <settlementDt>2019-12-18</settlementDt>
            <unrealizedAppr>-1086.18</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MEDIPAL HOLDINGS CORPORATION</name>
        <lei>353800PJDODZEA4NP730</lei>
        <title>MEDIPAL HOLDINGS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3268950007"/>
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        <balance>4600.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PUBLICIS GROUPE SA</name>
        <lei>2138004KW8BV57III342</lei>
        <title>PUBLICIS GROUPE</title>
        <cusip>N/A</cusip>
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          <isin value="FR0000130577"/>
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        <balance>921.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Thai Beverage Public Company Limited</name>
        <lei>529900VZFHQZ684D8L07</lei>
        <title>THAI BEVERAGE PCL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TH0902010014"/>
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        <balance>65100.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.38180000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>BAIDU, INC.</name>
        <lei>254900AL64IANZYI1E02</lei>
        <title>BAIDU INC</title>
        <cusip>056752AM0</cusip>
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          <isin value="US056752AM06"/>
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        <balance>220000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>234641.22000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNION PACIFIC CORPORATION</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>UNION PACIFIC CORP.</title>
        <cusip>907818108</cusip>
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          <isin value="US9078181081"/>
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        <balance>306.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BRITISH POUND</name>
        <lei>N/A</lei>
        <title>BRITISH POUND</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="GBP_20191205_JPMORGANCHASE_429678"/>
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        <balance>-712000.00000000</balance>
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        <assetCat>DFE</assetCat>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>WuXi AppTec Co., Ltd.</name>
        <lei>254900OEPQLZSPLN9175</lei>
        <title>WUXI APPTEC CO LTD-A</title>
        <cusip>N/A</cusip>
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          <isin value="CNE1000031K4"/>
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        <balance>4900.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OIL AND NATURAL GAS CORPORATION LIMITED</name>
        <lei>335800FPDZ9MRSNO7N41</lei>
        <title>OIL &amp; NATURAL GAS CORPORATION, LTD.</title>
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          <isin value="INE213A01029"/>
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        <balance>43210.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="70.86130000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Li Ning Co Ltd</name>
        <lei>529900T77L2FV3FZ3U81</lei>
        <title>LI NING CO LTD</title>
        <cusip>N/A</cusip>
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          <isin value="KYG5496K1242"/>
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        <balance>19500.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>56078.83000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>THE GOLDMAN SACHS GROUP, INC.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CIGNA CORPORATION</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-15</maturityDt>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
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        <balance>230000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-07-22</maturityDt>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO (CALL OPTION)</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
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                <issuerName>JPMORGAN CHASE &amp; CO (CALL OPTION)</issuerName>
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            <unrealizedAppr>13522.32</unrealizedAppr>
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      <invstOrSec>
        <name>Adyen NV</name>
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        <cusip>N/A</cusip>
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          <isin value="NL0012969182"/>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GILEAD SCIENCES, INC.</name>
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          <isin value="US375558BC64"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>APPLE INC.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
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          <isin value="US037833CR93"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>477225.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-11</maturityDt>
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          <annualizedRt>3.20000000</annualizedRt>
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      <invstOrSec>
        <name>Roche Holding AG</name>
        <lei>549300U41AUUVOAAOB37</lei>
        <title>ROCHE HOLDING AG</title>
        <cusip>N/A</cusip>
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          <isin value="CH0012032048"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>OMNICOM GROUP INC.</name>
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        <title>OMNICOM GROUP, INC.</title>
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          <isin value="US6819191064"/>
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        <balance>1324.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>FEDEX CORPORATION</name>
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          <isin value="N/A"/>
          <ticker value="FDX"/>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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        <name>AMERICAN EXPRESS COMPANY</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ZOZO, Inc.</name>
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        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Republica Argentina</name>
        <lei>549300KPBYGYF7HCHO27</lei>
        <title>REPUBLIC OF ARGENTINA</title>
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          <isin value="US040114HQ69"/>
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        <balance>614000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>AR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-01-11</maturityDt>
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        <name>CK INFRASTRUCTURE HOLDINGS LIMITED</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Shenzhen Mindray Bio-Medical Electronics Co Ltd</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SPDR Gold Shares</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>KDDI CORPORATION</name>
        <lei>5299003FU7V4I45FU310</lei>
        <title>KDDI CORP.</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>THE PROCTER &amp; GAMBLE COMPANY</name>
        <lei>2572IBTT8CCZW6AU4141</lei>
        <title>PROCTER &amp; GAMBLE CO.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BIM BIRLESIK MAGAZALAR A</name>
        <lei>N/A</lei>
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        <invCountry>TR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
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            <delta>XXXX</delta>
            <unrealizedAppr>-679.82000000</unrealizedAppr>
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      <invstOrSec>
        <name>TINGYI (CAYMAN ISLANDS) HOLDING CORP.</name>
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        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ASSA ABLOY AB</name>
        <lei>549300YECS8HKCIMMB67</lei>
        <title>ASSA ABLOY AB-B</title>
        <cusip>N/A</cusip>
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          <isin value="SE0007100581"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Autobio Diagnostics Co., Ltd.</name>
        <lei>N/A</lei>
        <title>AUTOBIO DIAGNOSTICS CO LTD-A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100002GC4"/>
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        <balance>4700.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JAPANESE YEN</name>
        <lei>N/A</lei>
        <title>JAPANESE YEN</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal" value="JPY_20191122_JPMORGANCHASE_427388"/>
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        <balance>-303096000.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="1.00000000"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>Foshan Haitian Flavouring and Food Co Ltd</name>
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          <isin value="CNE100001SL2"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GILEAD SCIENCES, INC.</name>
        <lei>549300WTZWR07K8MNV44</lei>
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          <isin value="US375558AW38"/>
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        <balance>293000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>ONEOK, INC.</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK INC</title>
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          <isin value="US682680AX11"/>
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        <balance>210000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>210838.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SPDR Gold Shares</name>
        <lei>N/A</lei>
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          <isin value="N/A"/>
          <ticker value="GLD"/>
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        <balance>10023.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10804.12000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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            <delta>XXXX</delta>
            <unrealizedAppr>-8829.93</unrealizedAppr>
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      <invstOrSec>
        <name>CTRIP.COM INTERNATIONAL ADR REPRE</name>
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          <isin value="US22943F1003"/>
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        <balance>-125.00000000</balance>
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        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
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            <terminationDt>2039-12-31</terminationDt>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>Lowe`s Companies, Inc.</name>
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          <isin value="N/A"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <putOrCall>Call</putOrCall>
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                <issuerName>Lowe`s Companies, Inc.</issuerName>
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            <shareNo>4470.00000000</shareNo>
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            <unrealizedAppr>-10151.74</unrealizedAppr>
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      <invstOrSec>
        <name>WANT WANT CHINA HOLDINGS LIMITED</name>
        <lei>5299005HZCEKX4O1J230</lei>
        <title>WANT WANT CHINA HOLDINGS LIMITED</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HANG LUNG PROPERTIES LIMITED</name>
        <lei>529900CIVTNMXQT59E61</lei>
        <title>HANG LUNG PROPERTIES LTD.</title>
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        <balance>72000.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ILLUMINA INC</name>
        <lei>N/A</lei>
        <title>ILLUMINA INC</title>
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        <balance>-51.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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        <securityLending>
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      <invstOrSec>
        <name>FOSUN INTERNATIONAL LIMITED</name>
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        <title>FOSUN INTERNATIONAL</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CONAGRA BRANDS INC</name>
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        <title>CONAGRA BRANDS INC</title>
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        <balance>-1217.00000000</balance>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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            <delta>XXXX</delta>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>FERGUSON PLC</name>
        <lei>213800DU1LGY3R2S2X42</lei>
        <title>FERGUSON PLC</title>
        <cusip>N/A</cusip>
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          <isin value="JE00BJVNSS43"/>
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        <balance>12890.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mitsubishi Estate Company, Limited</name>
        <lei>353800KOFMRGOXSJ5Z65</lei>
        <title>MITSUBISHI ESTATE CO., LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3899600005"/>
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        <balance>10600.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>205280.93000000</valUSD>
        <pctVal>0.054325089739</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC</title>
        <cusip>404280BZ1</cusip>
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          <isin value="US404280BZ11"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>208217.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.80300000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROCKWELL AUTOMATION, INC.</name>
        <lei>VH3R4HHBHH12O0EXZJ88</lei>
        <title>ROCKWELL AUTOMATION, INC.</title>
        <cusip>773903109</cusip>
        <identifiers>
          <isin value="US7739031091"/>
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        <balance>140.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23072.00000000</valUSD>
        <pctVal>0.006105722876</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Guotai Junan Securities Co., Ltd.</name>
        <lei>300300E1005431000017</lei>
        <title>GUOTAI JUNAN SECURITIES CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100002FK9"/>
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        <balance>2400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>3747.71000000</valUSD>
        <pctVal>0.000991785657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TAIWAN SEMICONDUCTOR-SP ADR (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>TAIWAN SEMICONDUCTOR-SP ADR (CALL OPTION)</title>
        <cusip>N/A</cusip>
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          <ticker value="TSM"/>
          <other otherDesc="Internal" value="BRTVHA786"/>
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        <balance>-19482.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-19808.52000000</valUSD>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>TAIWAN SEMICONDUCTOR-SP ADR (CALL OPTION)</issuerName>
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                  <cusip value="874039100"/>
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            <shareNo>19482.00000000</shareNo>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>-6171.12</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>EURO STOXX 50 PRICE INDEX (CALL OPTION)</name>
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        <title>EURO STOXX 50 PRICE INDEX (CALL OPTION)</title>
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          <ticker value="SX5E"/>
          <other otherDesc="Internal" value="BRTUGFGB1"/>
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        <balance>271.00000000</balance>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>EURO STOXX 50 PRICE INDEX (CALL OPTION)</indexName>
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            <shareNo>271.00000000</shareNo>
            <exercisePrice>3600</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-10-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-2783.07</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>5Y RTR 1.2% 10/9/19</name>
        <lei>N/A</lei>
        <title>5Y RTR 1.2% 10/9/19</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTVTBJ21"/>
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        <balance>-1967.43210000</balance>
        <units>OU</units>
        <descOthUnits>Notional</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-546.55000000</valUSD>
        <pctVal>-0.00014463777</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="IRS SWAPTION" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS INTERNATIONAL</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
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                    <counterpartyName>N/A</counterpartyName>
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                    <identifiers>
                      <other otherDesc="Internal" value="BRTVTBJ2S"/>
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                    <balance>N/A</balance>
                    <units>OU</units>
                    <descOthUnits>Notional</descOthUnits>
                    <curCd>USD</curCd>
                    <valUSD>N/A</valUSD>
                    <pctVal>N/A</pctVal>
                    <assetCat>DIR</assetCat>
                    <issuerConditional desc="Interest Rate Swap" issuerCat="OTHER"/>
                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <descRefInstrmnt>
                    <indexBasketInfo>
                      <indexName>US DOLLAR 3 MO LIBOR - BBA 11AM</indexName>
                      <indexIdentifier>3M LIBOR</indexIdentifier>
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                  <fixedPmntDesc amount="0.00" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.2"/>
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                  <upfrontRcpt>0.00</upfrontRcpt>
                  <rcptCurCd>USD</rcptCurCd>
                  <notionalAmt>0.00</notionalAmt>
                  <curCd>USD</curCd>
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            <shareNo>-1967.43210000</shareNo>
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            <expDt>2019-10-09</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>42276.75</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>UNITED TECHNOLOGIES CORPORATION</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>UNITED TECHNOLOGIES CORP.</title>
        <cusip>913017109</cusip>
        <identifiers>
          <isin value="US9130171096"/>
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        <balance>15803.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2157425.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TOYOTA INDUSTRIES CORPORATION</name>
        <lei>35380000WKGEAHEMW830</lei>
        <title>TOYOTA INDUSTRIES CORP.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3634600005"/>
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        <balance>15600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENTERPRISE PRODUCTS OPERATING LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>ENTERPRISE PRODUCTS OPER</title>
        <cusip>29379VBE2</cusip>
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          <isin value="US29379VBE20"/>
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        <balance>83000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>88317.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>Intouch Holdings Public Company Limited</name>
        <lei>529900UDPDZWDBCCDO79</lei>
        <title>INTOUCH HOLDINGS PCL-F</title>
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          <isin value="TH0201A10Y01"/>
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        <balance>77500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>LINE CORP</name>
        <lei>N/A</lei>
        <title>LINE CORP</title>
        <cusip>N/A</cusip>
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          <isin value="JP3966750006"/>
          <other otherDesc="Internal" value="SBZB1Y595"/>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NIPPO CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>United States of America</name>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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      <invstOrSec>
        <name>OKUMURA CORPORATION</name>
        <lei>N/A</lei>
        <title>OKUMURA CORP</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>East Japan Railway Company</name>
        <lei>353800SENYJ2DSM6PS44</lei>
        <title>EAST JAPAN RAILWAY CO.</title>
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        <identifiers>
          <isin value="JP3783600004"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>LOTTE CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>

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          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP</counterpartyName>
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        <securityLending>
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      <invstOrSec>
        <name>QUINTIS PTY LIMITED</name>
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        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Japan</name>
        <lei>353800WZS8AXZXFUC241</lei>
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          <isin value="JP1748461K73"/>
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        <balance>370250000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUMITOMO MITSUI FINANCIAL GROUP INC (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>SUMITOMO MITSUI FINANCIAL GROUP INC (CALL OPTION)</title>
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          <ticker value="8316"/>
          <other otherDesc="Internal" value="BRTJ16Y22"/>
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        <balance>11381.00000000</balance>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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            <shareNo>11381.00000000</shareNo>
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            <unrealizedAppr>-29736.27</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>SPDR Gold Shares</name>
        <lei>N/A</lei>
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          <isin value="N/A"/>
          <ticker value="GLD"/>
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        <balance>22708.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SPDR Gold Shares</issuerName>
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            <shareNo>22708.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-25335.43</unrealizedAppr>
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      <invstOrSec>
        <name>KOREA SHIPBUILDING &amp; OFFSHORE</name>
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        <assetCat>DE</assetCat>
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        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
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            <descRefInstrmnt>
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                  <isin value="KR7009540006"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>595.16000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>CUMMINS INC.</name>
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          <isin value="US2310211063"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>QUALCOMM INCORPORATED</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM INC</title>
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          <isin value="US747525AR43"/>
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        <balance>133000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>135284.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>ALIBABA GROUP HOLDING-SP (CALL OPTION)</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BABA"/>
          <other otherDesc="Internal" value="BRTUB31M5"/>
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        <payoffProfile>N/A</payoffProfile>
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        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
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            <shareNo>2785.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-7702.96</unrealizedAppr>
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      <invstOrSec>
        <name>Mitsubishi UFJ Financial Group, Inc.</name>
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          <isin value="US606822AU87"/>
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        <balance>112000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DELTA AIR LINES, INC.</name>
        <lei>Q2CCMS6R0AS67HJMBN42</lei>
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      <invstOrSec>
        <name>KUMBA IRON ORE LIMITED</name>
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        <name>KINGSOFT CORPORATION LIMITED</name>
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        <title>KINGSOFT CORPORATION LIMITED</title>
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        <name>DAIWA HOUSE INDUSTRY CO.,LTD.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

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        <name>CATERPILLAR INC.</name>
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        <assetCat>EC</assetCat>
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        <name>CHINA EVERBRIGHT INTERNATIONAL LTD</name>
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            <delta>XXXX</delta>
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      </invstOrSec>
      <invstOrSec>
        <name>LOCKHEED MARTIN CORPORATION</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
        <title>LOCKHEED MARTIN CORP.</title>
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          <isin value="US5398301094"/>
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        <curCd>USD</curCd>
        <valUSD>55778.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>NXP B.V.</name>
        <lei>724500RKKW4NOJ9YQF60</lei>
        <title>NXP BV/NXP FUNDING LLC</title>
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          <isin value="US62947QAV05"/>
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        <balance>200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>212750.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wuhan Raycus Fiber Laser Technologies Co Ltd</name>
        <lei>N/A</lei>
        <title>WUHAN RAYCUS FIBER LASER T-A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100003654"/>
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        <balance>4391.00000000</balance>
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        <currencyConditional curCd="CNY" exchangeRt="7.13840000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHINA EVERBRIGHT INTERNATIONAL LTD</name>
        <lei>N/A</lei>
        <title>CHINA EVERBRIGHT INTERNATIONAL LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0257001336"/>
          <other otherDesc="Internal" value="S66309402"/>
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        <balance>-17000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>-13101.11000000</valUSD>
        <pctVal>-0.00346704867</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>CHINA EVERBRIGHT INTERNATIONAL LTD</issuerName>
                <issueTitle>CHINA EVERBRIGHT INTERNATIONAL LTD</issueTitle>
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                  <isin value="HK0257001336"/>
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            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-15123.60000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>2022.49000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Siemens Aktiengesellschaft</name>
        <lei>W38RGI023J3WT1HWRP32</lei>
        <title>SIEMENS AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0007236101"/>
        </identifiers>
        <balance>29297.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>3139135.85000000</valUSD>
        <pctVal>0.830733944720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COMPANIA CERVECERIAS UNIDAS S.A.</name>
        <lei>529900BJW9B0O6LI2R39</lei>
        <title>COMPANIA CERVECERIAS UNIDAS ADR</title>
        <cusip>204429104</cusip>
        <identifiers>
          <isin value="US2044291043"/>
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        <balance>3839.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>85187.41000000</valUSD>
        <pctVal>0.022543807127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="ADR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>CL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INFINEON TECHNOLOGIES AG</name>
        <lei>N/A</lei>
        <title>INFINEON TECHNOLOGIES AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0006231004"/>
          <other otherDesc="Internal" value="S58895053"/>
        </identifiers>
        <balance>-412.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>-7413.84000000</valUSD>
        <pctVal>-0.00196198216</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS LIMITED</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>INFINEON TECHNOLOGIES AG</issuerName>
                <issueTitle>INFINEON TECHNOLOGIES AG</issueTitle>
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                  <isin value="DE0006231004"/>
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            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-7369.89000000" curCd="USD"/>
            </notionalAmts>
            <delta>XXXX</delta>
            <unrealizedAppr>-43.95000000</unrealizedAppr>
          </othDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ULTRAPAR PARTICIPOES SA</name>
        <lei>N/A</lei>
        <title>ULTRAPAR PARTICIPOES SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRUGPAACNOR8"/>
          <other otherDesc="Internal" value="CFJB0FHTN"/>
        </identifiers>
        <balance>-1262.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15460000"/>
        <valUSD>-5616.51000000</valUSD>
        <pctVal>-0.00148634074</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>J.P. MORGAN SECURITIES LLC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>ULTRAPAR PARTICIPOES SA</issuerName>
                <issueTitle>ULTRAPAR PARTICIPOES SA</issueTitle>
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                  <isin value="BRUGPAACNOR8"/>
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            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-6610.76000000" curCd="USD"/>
            </notionalAmts>
            <delta>XXXX</delta>
            <unrealizedAppr>994.25000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="WFC"/>
        </identifiers>
        <balance>-76.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2318.00000000</valUSD>
        <pctVal>-0.00061343037</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>WELLS FARGO &amp; COMPANY</issuerName>
                <issueTitle>WELLS FARGO &amp; CO (PUT OPTION)</issueTitle>
                <identifiers>
                  <cusip value="949746101"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>76.00000000</shareNo>
            <exercisePrice>45</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-11-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>5415.74</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Koninklijke DSM N.V.</name>
        <lei>724500SNT1MK246AHP04</lei>
        <title>DSM NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0000009827"/>
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        <balance>18.00000000</balance>
        <units>NS</units>
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        <pctVal>0.000572924916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LINDE PLC</name>
        <lei>N/A</lei>
        <title>LINDE PLC</title>
        <cusip>N/A</cusip>
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          <isin value="IE00BZ12WP82"/>
          <other otherDesc="Internal" value="SBZ12WP80"/>
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        <balance>-103.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-19953.16000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>LINDE PLC</issuerName>
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                  <isin value="IE00BZ12WP82"/>
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            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-17541.35000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-2411.81000000</unrealizedAppr>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MEDTRONIC PUBLIC LIMITED COMPANY</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>MEDTRONIC PLC</title>
        <cusip>G5960L103</cusip>
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          <isin value="IE00BTN1Y115"/>
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        <balance>1016.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>110357.92000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fiat Chrysler Automobiles N.V.</name>
        <lei>549300LKT9PW7ZIBDF31</lei>
        <title>FIAT CHRYSLER AUTOMOBILES NV</title>
        <cusip>N/A</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Estados Unidos Mexicanos</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEXICAN BONOS DESARR</title>
        <cusip>N/A</cusip>
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          <isin value="MX0MGO000078"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. TREASURY NOTE</title>
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          <isin value="US912828YF19"/>
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        <balance>20091300.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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      <invstOrSec>
        <name>RELIANCE INDUSTRIES LIMITED</name>
        <lei>5493003UOETFYRONLG31</lei>
        <title>RELIANCE INDUSTRIES, LTD.</title>
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          <isin value="INE002A01018"/>
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        <balance>89697.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TC Energy Corporation</name>
        <lei>549300UGKOFV2IWJJG27</lei>
        <title>TC ENERGY CORP</title>
        <cusip>87807B107</cusip>
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          <isin value="CA87807B1076"/>
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        <balance>22575.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SK HYNIX INC</name>
        <lei>N/A</lei>
        <title>SK HYNIX INC</title>
        <cusip>N/A</cusip>
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          <isin value="KR7000660001"/>
          <other otherDesc="Internal" value="S64502677"/>
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        <name>Haier Smart Home Co., Ltd.</name>
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      <invstOrSec>
        <name>AEON CO.,LTD.</name>
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      <invstOrSec>
        <name>GERMAN STOCK INDEX (CALL OPTION)</name>
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          <isin value="N/A"/>
          <ticker value="DAX"/>
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        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XEUR</counterpartyName>
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            <putOrCall>Call</putOrCall>
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      <invstOrSec>
        <name>ASPEN PHARMACARE HOLDINGS LIMITED</name>
        <lei>635400ZYSN1IRD5QWQ94</lei>
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          <isin value="ZAE000066692"/>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TOKYO STEEL MANUFACTURING CO., LTD.</name>
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          <isin value="JP3579800008"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SPDR S&amp;P 500 ETF Trust</name>
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          <isin value="N/A"/>
          <ticker value="SPY"/>
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        <balance>50.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5075.00000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                <issuerName>SPDR S&amp;P 500 ETF Trust</issuerName>
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                  <cusip value="78462F103"/>
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            <shareNo>50.00000000</shareNo>
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            <unrealizedAppr>-5780.07</unrealizedAppr>
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      <invstOrSec>
        <name>YONYOU NETWORK TECHNOLOGY CO.,LTD.</name>
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          <isin value="CNE0000017Y6"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EREGLI DEMIR VE CELIK FABRIKALARI TURK ANONIM SIRKETI</name>
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        <title>EREGLI DEMIR VE CELIK FABRIKALARI TAS (ERDEMIR)</title>
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          <isin value="TRAEREGL91G3"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DENSO CORPORATION</name>
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          <isin value="JP3551500006"/>
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        <balance>14900.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>AUTOHOME ADR REPRESENTING INC</name>
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          <isin value="US05278C1071"/>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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                <issuerName>AUTOHOME ADR REPRESENTING INC</issuerName>
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            <terminationDt>2039-12-31</terminationDt>
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        <securityLending>
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        <name>HEWLETT PACKARD ENTERPRISE COMPANY</name>
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          <isin value="US42824C1099"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Telefonaktiebolaget LM Ericsson</name>
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        <payoffProfile>Long</payoffProfile>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>FIELDWOOD ENERGY LLC</name>
        <lei>N/A</lei>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>NEW ZEALAND DOLLAR</name>
        <lei>N/A</lei>
        <title>NEW ZEALAND DOLLAR</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal" value="NZD_20191206_GOLDMANSACHS_433116"/>
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        <balance>-598000.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>AMAZON.COM, INC.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON.COM, INC.</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>THE CHARLES SCHWAB CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>FACEBOOK, INC.</name>
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      <invstOrSec>
        <name>LG CHEM LTD</name>
        <lei>988400IES4EIG7O06940</lei>
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        <name>TARGET CORPORATION</name>
        <lei>8WDDFXB5T1Z6J0XC1L66</lei>
        <title>TARGET CORP.</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF CHINA LIMITED</name>
        <lei>54930053HGCFWVHYZX42</lei>
        <title>BANK OF CHINA LTD</title>
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          <isin value="CNE1000001Z5"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC</title>
        <cusip>172967MF5</cusip>
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          <isin value="US172967MF56"/>
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        <balance>455000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>471282.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.35200000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SPDR S&amp;P 500 ETF Trust</name>
        <lei>N/A</lei>
        <title>SPDR S&amp;P 500 ETF TRUST (CALL OPTION)</title>
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        <identifiers>
          <isin value="N/A"/>
          <ticker value="SPY"/>
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        <balance>555.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>178432.50000000</valUSD>
        <pctVal>0.047219980808</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SPDR S&amp;P 500 ETF Trust</issuerName>
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                  <cusip value="78462F103"/>
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            </descRefInstrmnt>
            <shareNo>555.00000000</shareNo>
            <exercisePrice>300</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-10-28</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>121.96</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CENTENE CORPORATION</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>CENTENE CORP.</title>
        <cusip>15135B101</cusip>
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          <isin value="US15135B1017"/>
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        <balance>559.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24182.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>i-CABLE Communications Limited</name>
        <lei>529900DMAV31G6XWLO55</lei>
        <title>I-CABLE COMMUNICATIONS LIMITED</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK1097008929"/>
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        <balance>15329.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>146.17000000</valUSD>
        <pctVal>0.000038682104</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BYD ELECTRONIC</name>
        <lei>N/A</lei>
        <title>BYD ELECTRONIC</title>
        <cusip>N/A</cusip>
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          <isin value="HK0285041858"/>
          <other otherDesc="Internal" value="SB29SHS57"/>
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        <balance>-2500.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>-3744.81000000</valUSD>
        <pctVal>-0.00099101820</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>BYD ELECTRONIC</issuerName>
                <issueTitle>BYD ELECTRONIC</issueTitle>
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                  <isin value="HK0285041858"/>
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            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-3778.59000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>33.78000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WEYERHAEUSER COMPANY</name>
        <lei>08IRJODWFYBI7QWRGS31</lei>
        <title>WEYERHAEUSER CO.</title>
        <cusip>962166104</cusip>
        <identifiers>
          <isin value="US9621661043"/>
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        <balance>8396.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>232569.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="REIT"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SALESFORCE.COM, INC.</name>
        <lei>RCGZFPDMRW58VJ54VR07</lei>
        <title>SALESFORCE.COM, INC.</title>
        <cusip>79466L302</cusip>
        <identifiers>
          <isin value="US79466L3024"/>
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        <balance>4433.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>658034.52000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SHANGHAI FOSUN PHARMACEUTICAL (GRO</name>
        <lei>N/A</lei>
        <title>SHANGHAI FOSUN PHARMACEUTICAL (GRO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001M79"/>
          <other otherDesc="Internal" value="SB8XBQ965"/>
        </identifiers>
        <balance>-2000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>-5371.60000000</valUSD>
        <pctVal>-0.00142152830</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SHANGHAI FOSUN PHARMACEUTICAL (GRO</issuerName>
                <issueTitle>SHANGHAI FOSUN PHARMACEUTICAL (GRO</issueTitle>
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                  <isin value="CNE100001M79"/>
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            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-5753.10000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>381.50000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTH32 LIMITED</name>
        <lei>213800LAZNPXSBKVHR17</lei>
        <title>SOUTH32 LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000S320"/>
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        <balance>5416.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.48192000"/>
        <valUSD>9622.67000000</valUSD>
        <pctVal>0.002546522033</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NUCOR CORP</name>
        <lei>N/A</lei>
        <title>NUCOR CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US6703461052"/>
          <other otherDesc="Internal" value="670346105"/>
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        <balance>-301.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-15323.91000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>NUCOR CORP</issuerName>
                <issueTitle>NUCOR CORP</issueTitle>
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                  <isin value="US6703461052"/>
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            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-15514.07000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>190.16000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LLOYDS BANK PLC</name>
        <lei>H7FNTJ4851HG0EXQ1Z70</lei>
        <title>LLOYDS TSB BANK PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS0408620721"/>
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        <balance>230000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81347000"/>
        <valUSD>498715.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EURO STOXX 50 PRICE INDEX (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>EURO STOXX 50 PRICE INDEX (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SX5E"/>
          <other otherDesc="Internal" value="BRTUW1VS0"/>
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        <balance>1086.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>EURO STOXX 50 PRICE INDEX (CALL OPTION)</indexName>
                <indexIdentifier>SX5E </indexIdentifier>
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            <shareNo>1086.00000000</shareNo>
            <exercisePrice>3850</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-5301.04</unrealizedAppr>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>KOITO MANUFACTURING CO., LTD.</name>
        <lei>N/A</lei>
        <title>KOITO MANUFACTURING CO., LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3284600008"/>
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        <balance>5900.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Yahoo Japan Corporation</name>
        <lei>52990078MD2OL792YM35</lei>
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          <isin value="JP3933800009"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>EURO</name>
        <lei>N/A</lei>
        <title>EURO</title>
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          <other otherDesc="Internal" value="EUR_20191203_MORGANSTANLEY_432267"/>
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        <balance>-1020000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="1.00000000"/>
        <valUSD>-16715.84000000</valUSD>
        <pctVal>-0.00442364280</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>MORGAN STANLEY</counterpartyName>
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            <amtCurSold>1133639.73000000</amtCurSold>
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            <amtCurPur>1020000.00000000</amtCurPur>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SPDR GOLD SHARES (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>SPDR GOLD SHARES (CALL OPTION)</title>
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          <ticker value="GLD"/>
          <other otherDesc="Internal" value="BRTX3ER38"/>
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        <balance>6679.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SPDR GOLD SHARES (CALL OPTION)</issuerName>
                <issueTitle>SPDR GOLD SHARES (CALL OPTION)</issueTitle>
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            <shareNo>6679.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>-5396.49</unrealizedAppr>
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      </invstOrSec>
      <invstOrSec>
        <name>Shinhan Financial Group Co., Ltd.</name>
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          <isin value="KR7055550008"/>
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        <balance>1077.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>EURO STOXX 50 PRICE INDEX (CALL OPTION)</name>
        <lei>N/A</lei>
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          <ticker value="SX5E"/>
          <other otherDesc="Internal" value="BRTWZ2NA9"/>
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        <balance>1399.00000000</balance>
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        <pctVal>0.019305098514</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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              <indexBasketInfo>
                <indexName>EURO STOXX 50 PRICE INDEX (CALL OPTION)</indexName>
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            <shareNo>1399.00000000</shareNo>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-11-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>13669.48</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>THERMO FISHER SCIENTIFIC INC.</name>
        <lei>HCHV7422L5HDJZCRFL38</lei>
        <title>THERMO FISHER SCIENTIFIC, INC.</title>
        <cusip>883556102</cusip>
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          <isin value="US8835561023"/>
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        <balance>442.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>128741.34000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JBS S.A.</name>
        <lei>N/A</lei>
        <title>JBS SA</title>
        <cusip>N/A</cusip>
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          <isin value="BRJBSSACNOR8"/>
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        <balance>1565.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15460000"/>
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        <pctVal>0.003268723829</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEW ZEALAND DOLLAR</name>
        <lei>N/A</lei>
        <title>NEW ZEALAND DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="NZD_20191205_UBSWARBURG_432650"/>
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        <balance>-601000.00000000</balance>
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        <currencyConditional curCd="NZD" exchangeRt="1.00000000"/>
        <valUSD>-3982.96000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>NZ</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS WARBURG</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>380775.57000000</amtCurSold>
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            <amtCurPur>601000.00000000</amtCurPur>
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            <settlementDt>2019-12-05</settlementDt>
            <unrealizedAppr>-3982.96</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SANTANDER BANK POLSKA SA</name>
        <lei>N/A</lei>
        <title>SANTANDER BANK POLSKA SA</title>
        <cusip>N/A</cusip>
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          <isin value="PLBZ00000044"/>
          <other otherDesc="Internal" value="CFJ715363"/>
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        <balance>-48.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="PLN" exchangeRt="4.00850000"/>
        <valUSD>-3755.22000000</valUSD>
        <pctVal>-0.00099377308</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>PL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>JP MORGAN SECURITIES PLC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SANTANDER BANK POLSKA SA</issuerName>
                <issueTitle>SANTANDER BANK POLSKA SA</issueTitle>
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                  <isin value="PLBZ00000044"/>
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            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-4496.69000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>741.47000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HON HAI PRECISION INDUSTRY CO., LTD.</name>
        <lei>30030004CM3GSZXX7O56</lei>
        <title>HON HAI PRECISION INDUSTRY CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002317005"/>
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        <balance>63320.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="31.02300000"/>
        <valUSD>149903.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHINA UNICOM (HONG KONG) LIMITED</name>
        <lei>5299006RQXYNFYPOUS20</lei>
        <title>CHINA UNICOM HONG KONG LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0000049939"/>
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        <balance>2000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>2114.59000000</valUSD>
        <pctVal>0.000559600404</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BAIDU, INC.</name>
        <lei>254900AL64IANZYI1E02</lei>
        <title>BAIDU INC</title>
        <cusip>056752108</cusip>
        <identifiers>
          <isin value="US0567521085"/>
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        <balance>6.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>616.56000000</valUSD>
        <pctVal>0.000163165070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="ADR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EDWARDS LIFESCIENCES CORPORATION</name>
        <lei>YA13X31F3V31L8TMPR58</lei>
        <title>EDWARDS LIFESCIENCES CORP.</title>
        <cusip>28176E108</cusip>
        <identifiers>
          <isin value="US28176E1082"/>
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        <balance>242.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>53218.22000000</valUSD>
        <pctVal>0.014083551634</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SPDR S&amp;P 500 ETF Trust</name>
        <lei>N/A</lei>
        <title>SPDR S&amp;P 500 ETF TRUST (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="SPY"/>
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        <balance>34.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>16371.00000000</valUSD>
        <pctVal>0.004332385108</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SPDR S&amp;P 500 ETF Trust</issuerName>
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            </descRefInstrmnt>
            <shareNo>34.00000000</shareNo>
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            <expDt>2019-12-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1691.1</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>WESTERN DIGITAL CORPORATION</name>
        <lei>549300QQXOOYEF89IC56</lei>
        <title>WESTERN DIGITAL CORP.</title>
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          <isin value="US9581021055"/>
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        <balance>426.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>25406.64000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>MPLX LP</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP</title>
        <cusip>55336VAK6</cusip>
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          <isin value="US55336VAK61"/>
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        <balance>183000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>DIAMONDBACK ENERGY INC</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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            <terminationDt>2039-12-31</terminationDt>
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      <invstOrSec>
        <name>THE KROGER CO.</name>
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            <shareNo>6401.00000000</shareNo>
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      <invstOrSec>
        <name>Country Garden Services Holdings Co Ltd</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>CNOOC LIMITED</name>
        <lei>549300XIVJCBIGMRUD48</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. TREASURY BILL</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ONEOK, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>TEXAS INSTRUMENTS INCORPORATED</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="SWO">
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      <invstOrSec>
        <name>Power Assets Holdings Limited</name>
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          <isin value="HK0006000050"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RENAULT S.A.</name>
        <lei>969500F7JLTX36OUI695</lei>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>SINGAPORE TELECOMMUNICATIONS LIMITED</name>
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        <balance>50100.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DEUTSCHE BOERSE AG GERMAN (CALL OPTION)</name>
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        <identifiers>
          <isin value="N/A"/>
          <ticker value="DAX"/>
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        <balance>52.00000000</balance>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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            <putOrCall>Call</putOrCall>
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            <unrealizedAppr>-3685.25</unrealizedAppr>
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      <invstOrSec>
        <name>FLEETCOR TECHNOLOGIES, INC.</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bayer Aktiengesellschaft</name>
        <lei>549300J4U55H3WP1XT59</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RAYTHEON COMPANY</name>
        <lei>YR6K3WJN0KKLUPZSNL57</lei>
        <title>RAYTHEON CO.</title>
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          <isin value="US7551115071"/>
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        <balance>16705.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Shionogi &amp; Co., Ltd.</name>
        <lei>35380049VXDTHZI3DY35</lei>
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        <identifiers>
          <isin value="JP3347200002"/>
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        <balance>100.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>S&amp;P 500 INDEX (PUT OPTION)</name>
        <lei>N/A</lei>
        <title>S&amp;P 500 INDEX (PUT OPTION)</title>
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        <identifiers>
          <isin value="N/A"/>
          <ticker value="SPX"/>
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        <balance>-400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-5521.72000000</valUSD>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>PAYB IRS PAYB CAD CDOR03</name>
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        <assetCat>DIR</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>SUMITOMO MITSUI FINANCIAL GROUP INC (PUT OPTION)</name>
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        <title>SUMITOMO MITSUI FINANCIAL GROUP INC (PUT OPTION)</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <shareNo>7587.00000000</shareNo>
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            <expDt>2020-09-11</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-8952.76</unrealizedAppr>
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      <invstOrSec>
        <name>CHINA RESOURCES POWER HOLDINGS COMPANY LIMITED</name>
        <lei>529900K60FC0AI053735</lei>
        <title>CHINA RESOURCES POWER HOLDINGS CO., LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0836012952"/>
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        <balance>8000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PAYPAL HOLDINGS, INC.</name>
        <lei>5493005X2GO78EFZ3E94</lei>
        <title>PAYPAL HOLDINGS INC</title>
        <cusip>70450YAD5</cusip>
        <identifiers>
          <isin value="US70450YAD58"/>
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        <balance>95000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>95767.79000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>DEVON ENERGY CORPORATION</name>
        <lei>54930042348RKR3ZPN35</lei>
        <title>DEVON ENERGY CORP.</title>
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        <balance>1275.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Petrobras Distribuidora S.A.</name>
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          <isin value="BRBRDTACNOR1"/>
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        <balance>4542.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MultiChoice Group Ltd</name>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>JIANGSU HENGRUI MEDICINE CO.,LTD.</name>
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          <isin value="CNE0000014W7"/>
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        <balance>5399.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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        <name>SAFRAN S.A.</name>
        <lei>969500UIC89GT3UL7L24</lei>
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        <balance>10793.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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        <name>OREILLY AUTOMOTIVE INC</name>
        <lei>N/A</lei>
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        <balance>-49.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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            <terminationDt>2039-12-31</terminationDt>
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            <delta>XXXX</delta>
            <unrealizedAppr>-719.74000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>CHINA SOUTHERN AIRLINES LTD</name>
        <lei>N/A</lei>
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          <isin value="CNE1000002T6"/>
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        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
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        <assetCat>DE</assetCat>
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        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <descRefInstrmnt>
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                <issuerName>CHINA SOUTHERN AIRLINES LTD</issuerName>
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            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-34025.70000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>3722.70000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>THE KROGER CO.</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>KROGER CO.</title>
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          <isin value="US5010441013"/>
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        <curCd>USD</curCd>
        <valUSD>47254.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>SUMITOMO MITSUI FINANCIAL GR (CALL OPTION)</name>
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          <ticker value="8316"/>
          <other otherDesc="Internal" value="BRTHRA1U3"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>SUMITOMO MITSUI FINANCIAL GR (PUT OPTION)</name>
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          <ticker value="8316"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>ALPHABET INC.</name>
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          <ticker value="GOOG"/>
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      <invstOrSec>
        <name>FIELDWOOD ENERGY LLC</name>
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      <invstOrSec>
        <name>DAIKIN INDUSTRIES,LTD.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>HeidelbergCement AG</name>
        <lei>LZ2C6E0W5W7LQMX5ZI37</lei>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WOONGJIN COWAY CO., LTD.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>FIELDWOOD ENERGY</name>
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          <isin value="US31659HAQ48"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Floating</couponKind>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912810SJ88"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SAMSUNG SDI CO., LTD.</name>
        <lei>9884002AESDO4YW87G32</lei>
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          <isin value="KR7006400006"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CENTRAIS ELETR BRAS-ELETROBRAS</name>
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          <isin value="BRELETACNOR6"/>
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        <name>ALLERGAN SALES, LLC</name>
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        <name>RIO TINTO LIMITED</name>
        <lei>529900X2VMAQT2PE0V24</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>WELLS FARGO &amp; COMPANY</name>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>RENESAS ELECTRONICS CORP</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>China Shenhua Energy Company Limited</name>
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        <name>CDX NORTH AMERICA HIGH YIELD SERIES 32 VERSION 1</name>
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        <name>HOYA CORPORATION</name>
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        <name>NAN YA PLASTICS CORPORATION</name>
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        <title>NAN YA PLASTICS CORP.</title>
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        <fairValLevel>2</fairValLevel>
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        <name>FREEPORT MCMORAN INC</name>
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      <invstOrSec>
        <name>THE BOEING COMPANY</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
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          <isin value="US0970231058"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CENTERPOINT ENERGY, INC.</name>
        <lei>21TPXMRRHFKOBHDC8J74</lei>
        <title>CENTERPOINT ENERGY, INC.</title>
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          <isin value="US15189T1079"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Link Real Estate Investment Trust</name>
        <lei>529900XUE70U36QX5M62</lei>
        <title>LINK REIT</title>
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          <isin value="HK0823032773"/>
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        <balance>10500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="units"/>
        <issuerCat>RF</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Japan</name>
        <lei>353800WZS8AXZXFUC241</lei>
        <title>JAPAN TREASURY DISCOUNT BILL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP1748471K71"/>
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        <balance>269200000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>2490377.64000000</valUSD>
        <pctVal>0.659048011802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-10-28</maturityDt>
          <couponKind>None</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMOREPACIFIC CORP</name>
        <lei>N/A</lei>
        <title>AMOREPACIFIC CORP</title>
        <cusip>N/A</cusip>
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          <isin value="KR7090430000"/>
          <other otherDesc="Internal" value="SB15SK505"/>
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        <balance>-13.00000000</balance>
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        <currencyConditional curCd="KRW" exchangeRt="1196.00000000"/>
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        <pctVal>-0.00040414687</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>J.P. MORGAN SECURITIES LLC</counterpartyName>
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              <otherRefInst>
                <issuerName>AMOREPACIFIC CORP</issuerName>
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            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-1412.37000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-114.80000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>USD/ZAR (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>USD/ZAR (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTWWE1F9"/>
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        <balance>-13340.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-29728.00000000</valUSD>
        <pctVal>-0.00786715194</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>USD/ZAR (CALL OPTION)</issuerName>
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                  <cusip value="000000000"/>
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            <principalAmt>100.00000000</principalAmt>
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            <exercisePrice>16</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-12</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-16037.16</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ANTHEM, INC.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>ANTHEM INC</title>
        <cusip>036752103</cusip>
        <identifiers>
          <isin value="US0367521038"/>
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        <balance>11320.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2717932.00000000</valUSD>
        <pctVal>0.719267492626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>USD/BRL (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>USD/BRL (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTV4AE74"/>
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        <balance>-7920.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-63449.00000000</valUSD>
        <pctVal>-0.01679100254</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>USD/BRL (CALL OPTION)</issuerName>
                <issueTitle>USD/BRL (CALL OPTION)</issueTitle>
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            </descRefInstrmnt>
            <principalAmt>100.00000000</principalAmt>
            <curCd>USD</curCd>
            <exercisePrice>4</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-10-10</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-47494.16</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SPDR Gold Shares</name>
        <lei>N/A</lei>
        <title>SPDR GOLD SHARES (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="GLD"/>
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        <balance>13198.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>43836.83000000</valUSD>
        <pctVal>0.011600881404</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SPDR Gold Shares</issuerName>
                <issueTitle>SPDR GOLD SHARES (CALL OPTION)</issueTitle>
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            <shareNo>13198.00000000</shareNo>
            <exercisePrice>138</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-11-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-4335.87</unrealizedAppr>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>AGILENT TECHNOLOGIES INC (PUT OPTION)</name>
        <lei>N/A</lei>
        <title>AGILENT TECHNOLOGIES INC (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="A"/>
          <other otherDesc="Internal" value="BRTTPVRX9"/>
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        <balance>-4744.00000000</balance>
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        <valUSD>-2757.68000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
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            <shareNo>4744.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>13155.59</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NESTE</name>
        <lei>N/A</lei>
        <title>NESTE</title>
        <cusip>N/A</cusip>
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          <isin value="FI0009013296"/>
          <other otherDesc="Internal" value="SB06YV461"/>
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        <balance>-184.00000000</balance>
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        <invCountry>FI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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              <counterpartyName>JP MORGAN SECURITIES PLC</counterpartyName>
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            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-5915.80000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-174.10000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>APPLIED MATERIALS, INC.</name>
        <lei>41BNNE1AFPNAZELZ6K07</lei>
        <title>APPLIED MATERIALS, INC.</title>
        <cusip>038222105</cusip>
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          <isin value="US0382221051"/>
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        <balance>11864.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>VIPSHOP HOLDINGS LIMITED</name>
        <lei>549300I9F52K06HPZX60</lei>
        <title>VISHOP HOLDINGS LTD -ADR</title>
        <cusip>92763W103</cusip>
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          <isin value="US92763W1036"/>
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        <balance>106.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DAX DE 03/20/20 C13600</name>
        <lei>N/A</lei>
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          <isin value="N/A"/>
          <ticker value="DAX"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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            <shareNo>41.00000000</shareNo>
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            <expDt>2020-03-20</expDt>
            <delta>XXXX</delta>
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      <invstOrSec>
        <name>SPDR Gold Shares</name>
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          <isin value="N/A"/>
          <ticker value="GLD"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <shareNo>1338.00000000</shareNo>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>ASML Holding N.V.</name>
        <lei>724500Y6DUVHQD6OXN27</lei>
        <title>ASML HOLDING N.V.</title>
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          <isin value="NL0010273215"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>CHINA MENGNIU DAIRY COMPANY LIMITED</name>
        <lei>2549005Q343BSJ8RSS21</lei>
        <title>CHINA MENGNIU DAIRY CO LTD</title>
        <cusip>N/A</cusip>
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          <isin value="KYG210961051"/>
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        <balance>13000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Murata Manufacturing Co., Ltd.</name>
        <lei>529900QZG6DL8ZRI7140</lei>
        <title>MURATA MANUFACTURING CO. LTD.</title>
        <cusip>N/A</cusip>
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          <isin value="JP3914400001"/>
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        <balance>38400.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BECTON, DICKINSON AND COMPANY</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
        <title>BECTON DICKINSON AND CO</title>
        <cusip>075887BT5</cusip>
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          <isin value="US075887BT55"/>
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        <balance>364000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>369321.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.89400000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BECTON, DICKINSON AND COMPANY</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
        <title>BECTON DICKINSON AND CO</title>
        <cusip>075887BA6</cusip>
        <identifiers>
          <isin value="US075887BA64"/>
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        <balance>257000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>261234.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-11-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AUTOHOME ADR REPRESENTING</name>
        <lei>N/A</lei>
        <title>AUTOHOME ADR REPRESENTING</title>
        <cusip>N/A</cusip>
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          <isin value="US05278C1071"/>
          <other otherDesc="Internal" value="05278C107"/>
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        <balance>-423.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-35163.99000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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              <counterpartyName>J.P. MORGAN SECURITIES LLC</counterpartyName>
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              <otherRefInst>
                <issuerName>AUTOHOME ADR REPRESENTING</issuerName>
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                  <isin value="US05278C1071"/>
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            <terminationDt>2039-12-31</terminationDt>
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            <delta>XXXX</delta>
            <unrealizedAppr>-840.62000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BP CAPITAL MARKETS AMERICA INC.</name>
        <lei>5493009NTB34VXE1T760</lei>
        <title>BP CAPITAL MARKETS AMERICA INC</title>
        <cusip>10373QAD2</cusip>
        <identifiers>
          <isin value="US10373QAD25"/>
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        <balance>220000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>233958.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.79000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>The Travelers Companies, Inc.</name>
        <lei>549300Y650407RU8B149</lei>
        <title>TRAVELERS COMPANIES, INC.</title>
        <cusip>89417E109</cusip>
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          <isin value="US89417E1091"/>
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        <balance>1301.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>193445.69000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fresenius SE &amp; Co. KGaA</name>
        <lei>XDFJ0CYCOO1FXRFTQS51</lei>
        <title>FRESENIUS SE &amp; CO KGAA</title>
        <cusip>N/A</cusip>
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          <isin value="DE0005785604"/>
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        <balance>19800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <pctVal>0.244928582959</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CARLSBERG A/S</name>
        <lei>5299001O0WJQYB5GYZ19</lei>
        <title>CARLSBERG A/S, CLASS B</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0010181759"/>
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        <balance>242.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.84870000"/>
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        <pctVal>0.009477282301</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hundsun Technologies Inc.</name>
        <lei>N/A</lei>
        <title>HUNDSUN TECHNOLOGIES INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001GD5"/>
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        <balance>5400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.13840000"/>
        <valUSD>56343.69000000</valUSD>
        <pctVal>0.014910669079</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNITEDHEALTH GROUP INCORPORATED</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GROUP, INC.</title>
        <cusip>91324P102</cusip>
        <identifiers>
          <isin value="US91324P1021"/>
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        <balance>12491.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2714544.12000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ENTERPRISE PRODUCTS OPERATING LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>ENTERPRISE PRODUCTS OPER</title>
        <cusip>29379VBB8</cusip>
        <identifiers>
          <isin value="US29379VBB80"/>
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        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>89674.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC</title>
        <cusip>404280BJ7</cusip>
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          <isin value="US404280BJ78"/>
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        <balance>282000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>286779.05000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.26200000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>5Y RTR 1.45% 10/9/19</name>
        <lei>N/A</lei>
        <title>5Y RTR 1.45% 10/9/19</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTVTBJ39"/>
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        <balance>1967.43210000</balance>
        <units>OU</units>
        <descOthUnits>Notional</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>26106.05000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="IRS SWAPTION" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <optionSwaptionWarrantDeriv derivCat="SWO">
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                      <other otherDesc="Internal" value="BRTVTBJ3S"/>
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                    <balance>N/A</balance>
                    <units>OU</units>
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                    <pctVal>N/A</pctVal>
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        <name>U.S. DOLLAR</name>
        <lei>N/A</lei>
        <title>U.S. DOLLAR</title>
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          <other otherDesc="Internal" value="USD_20191122_JPMORGANCHASE_431672"/>
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        <balance>67294000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
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              <counterpartyName>JP MORGAN CHASE</counterpartyName>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Beijing Capital International Airport Company Limited</name>
        <lei>5299001QWQN7CK66FE04</lei>
        <title>BEIJING CAPITAL INTERNATIONAL AIRPORT CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000221"/>
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        <balance>20000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
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        <pctVal>0.004528338799</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>THE HOME DEPOT, INC.</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>HOME DEPOT INC 2.95% 06/15/2029</title>
        <cusip>437076BY7</cusip>
        <identifiers>
          <isin value="US437076BY77"/>
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        <balance>202000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>211953.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SANOFI SA</name>
        <lei>549300E9PC51EN656011</lei>
        <title>SANOFI</title>
        <cusip>N/A</cusip>
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        <name>CONSTELLATION BRANDS INC CLASS A</name>
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        <fairValLevel>2</fairValLevel>
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          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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      <invstOrSec>
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        <isRestrictedSec>N</isRestrictedSec>

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          <optionSwaptionWarrantDeriv derivCat="OPT">
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      <invstOrSec>
        <name>BROADCOM INC.</name>
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        <name>RAI WAY S.P.A.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>PROJECT BRIDGE SHELL</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>VISTRA OPERATIONS COMPANY LLC</name>
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      <invstOrSec>
        <name>XILINX, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BAXTER INTERNATIONAL INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>UNICREDIT, SOCIETA PER AZIONI</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SODEXO S.A.</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hangzhou Tigermed Consulting Co., Ltd</name>
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      <invstOrSec>
        <name>EQUINIX, INC.</name>
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        <name>MICROSOFT CORPORATION</name>
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        <fairValLevel>1</fairValLevel>
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        <name>U.S. DOLLAR</name>
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        <name>SPDR GOLD SHARES (CALL OPTION)</name>
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        <name>SPDR S&amp;P 500 ETF Trust</name>
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        <name>ALIBABA GROUP HOLDING-SP (PUT OPTION)</name>
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            <delta>XXXX</delta>
            <unrealizedAppr>7431.25</unrealizedAppr>
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          <isCashCollateral>N</isCashCollateral>
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        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CVS HEALTH CORP (PUT OPTION)</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="CVS"/>
          <other otherDesc="Internal" value="BRTMLMAG3"/>
        </identifiers>
        <balance>-4950.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-5580.05000000</valUSD>
        <pctVal>-0.00147669204</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>CVS HEALTH CORP (PUT OPTION)</issuerName>
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            </descRefInstrmnt>
            <shareNo>4950.00000000</shareNo>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>8527.45</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AON CORPORATION</name>
        <lei>LTS3U8DGK38SETRUWX71</lei>
        <title>AON CORP</title>
        <cusip>037389BB8</cusip>
        <identifiers>
          <isin value="US037389BB82"/>
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        <balance>63000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70823.53000000</valUSD>
        <pctVal>0.018742581801</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MALAYSIA AIRPORTS HOLDINGS BERHAD</name>
        <lei>2549003NBM1LN55SZ370</lei>
        <title>MALAYSIA AIRPORTS</title>
        <cusip>N/A</cusip>
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          <isin value="MYL5014OO005"/>
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        <balance>28200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MYR" exchangeRt="4.18500000"/>
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        <pctVal>0.015452978051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Hana Financial Group Inc.</name>
        <lei>N/A</lei>
        <title>HANA FINANCIAL HOLDINGS</title>
        <cusip>N/A</cusip>
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          <isin value="KR7086790003"/>
        </identifiers>
        <balance>826.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1196.00000000"/>
        <valUSD>24383.02000000</valUSD>
        <pctVal>0.006452668300</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WALMART INC.</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>WALMART INC.</title>
        <cusip>931142103</cusip>
        <identifiers>
          <isin value="US9311421039"/>
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        <balance>8264.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>980771.52000000</valUSD>
        <pctVal>0.259549198445</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SOUTHWEST AIRLINES</name>
        <lei>N/A</lei>
        <title>SOUTHWEST AIRLINES</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US8447411088"/>
          <other otherDesc="Internal" value="844741108"/>
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        <balance>-411.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-22198.11000000</valUSD>
        <pctVal>-0.00587445856</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>J.P. MORGAN SECURITIES LLC</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SOUTHWEST AIRLINES</issuerName>
                <issueTitle>SOUTHWEST AIRLINES</issueTitle>
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            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-21177.63000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-1020.48000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Japan Airlines Co., Ltd.</name>
        <lei>3538002MH5L1QZZ93477</lei>
        <title>JAPAN AIRLINES CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3705200008"/>
        </identifiers>
        <balance>52600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>1563607.33000000</valUSD>
        <pctVal>0.413789573727</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EUR/USD (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>EUR/USD (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTX0GSQ4"/>
        </identifiers>
        <balance>-51740.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>-18915.66000000</valUSD>
        <pctVal>-0.00500579828</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Option" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>EUR/USD (CALL OPTION)</issuerName>
                <issueTitle>EUR/USD (CALL OPTION)</issueTitle>
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                  <cusip value="000000000"/>
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            </descRefInstrmnt>
            <principalAmt>100.00000000</principalAmt>
            <curCd>EUR</curCd>
            <exercisePrice>1</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-03-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>11205.97</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>XIAOMI CORP</name>
        <lei>N/A</lei>
        <title>XIAOMI CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG9830T1067"/>
          <other otherDesc="Internal" value="SBG0ZMJ94"/>
        </identifiers>
        <balance>-37600.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>-42217.54000000</valUSD>
        <pctVal>-0.01117235609</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>XIAOMI CORP</issuerName>
                <issueTitle>XIAOMI CORP</issueTitle>
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                  <isin value="KYG9830T1067"/>
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            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-55189.71000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>12972.17000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NIKE, INC.</name>
        <lei>787RXPR0UX0O0XUXPZ81</lei>
        <title>NIKE, INC. CL B</title>
        <cusip>654106103</cusip>
        <identifiers>
          <isin value="US6541061031"/>
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        <balance>241.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22634.72000000</valUSD>
        <pctVal>0.005990002068</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SPDR Gold Shares</name>
        <lei>N/A</lei>
        <title>SPDR GOLD SHARES (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="GLD"/>
        </identifiers>
        <balance>-67.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-8777.00000000</valUSD>
        <pctVal>-0.00232272580</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SPDR Gold Shares</issuerName>
                <issueTitle>SPDR GOLD SHARES (PUT OPTION)</issueTitle>
                <identifiers>
                  <cusip value="78463V107"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>67.00000000</shareNo>
            <exercisePrice>133</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-3376.12</unrealizedAppr>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. TREASURY NOTE</title>
        <cusip>912828YB0</cusip>
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          <isin value="US912828YB05"/>
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        <balance>7729500.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7695683.44000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GENERAL ELECTRIC COMPANY</name>
        <lei>3C7474T6CDKPR9K6YT90</lei>
        <title>GENERAL ELECTRIC CO.</title>
        <cusip>369604103</cusip>
        <identifiers>
          <isin value="US3696041033"/>
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        <balance>2964.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26498.16000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP (PUT OPTION)</title>
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        <identifiers>
          <isin value="N/A"/>
          <ticker value="BAC"/>
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        <balance>-72.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-4716.00000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <shareNo>72.00000000</shareNo>
            <exercisePrice>27</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-269.24</unrealizedAppr>
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      <invstOrSec>
        <name>PROJECT BARKLEY</name>
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        <title>PROJECT BARKLEY</title>
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          <other otherDesc="Internal" value="BRSSDZF68"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Banco Bradesco S/A</name>
        <lei>549300CTUU1RFXHQJE44</lei>
        <title>BANCO BRADESCO SA</title>
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          <isin value="BRBBDCACNPR8"/>
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        <balance>100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15460000"/>
        <valUSD>816.44000000</valUSD>
        <pctVal>0.000216060869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY</title>
        <cusip>61761JQK8</cusip>
        <identifiers>
          <isin value="US61761JQK87"/>
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        <balance>198000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>199980.00000000</valUSD>
        <pctVal>0.052922263388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-07-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.91338000</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>REPUBLIC OF SOUTH AFRICA</name>
        <lei>549300KEVMSOSY8T8R35</lei>
        <title>REPUBLIC OF SOUTH AFRICA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ZAG000106998"/>
        </identifiers>
        <balance>13939060.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="ZAR" exchangeRt="15.13750000"/>
        <valUSD>860904.89000000</valUSD>
        <pctVal>0.227827959500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</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>CITIGROUP INC.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="C"/>
        </identifiers>
        <balance>-3354.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2143.01000000</valUSD>
        <pctVal>-0.00056712141</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>CITIGROUP INC.</issuerName>
                <issueTitle>CITIGROUP INC (PUT OPTION)</issueTitle>
                <identifiers>
                  <cusip value="172967424"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>3354.00000000</shareNo>
            <exercisePrice>67</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-10-11</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>1210.99</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EURO STOXX 70 PRICE INDEX (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>EURO STOXX 70 PRICE INDEX (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SX7E"/>
          <other otherDesc="Internal" value="BRTSHNKG2"/>
        </identifiers>
        <balance>-6330.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>-2455.47000000</valUSD>
        <pctVal>-0.00064981013</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>EURO STOXX 70 PRICE INDEX (CALL OPTION)</indexName>
                <indexIdentifier>SX7E </indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <shareNo>6330.00000000</shareNo>
            <exercisePrice>135</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2021-06-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>4552.91</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JOHNSON &amp; JOHNSON (PUT OPTION)</name>
        <lei>N/A</lei>
        <title>JOHNSON &amp; JOHNSON (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="JNJ"/>
          <other otherDesc="Internal" value="BRTMKD7G8"/>
        </identifiers>
        <balance>-5018.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-4609.12000000</valUSD>
        <pctVal>-0.00121974728</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>JOHNSON &amp; JOHNSON (PUT OPTION)</issuerName>
                <issueTitle>JOHNSON &amp; JOHNSON (PUT OPTION)</issueTitle>
                <identifiers>
                  <cusip value="478160104"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>5018.00000000</shareNo>
            <exercisePrice>109</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>9190.38</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CORNING INCORPORATED</name>
        <lei>549300X2937PB0CJ7I56</lei>
        <title>CORNING, INC.</title>
        <cusip>219350105</cusip>
        <identifiers>
          <isin value="US2193501051"/>
        </identifiers>
        <balance>7783.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>221971.16000000</valUSD>
        <pctVal>0.058741955166</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASDZ1 FUTURE TRS</name>
        <lei>N/A</lei>
        <title>ASDZ1 FUTURE TRS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ASDZ1"/>
          <other otherDesc="Internal" value="BRT2Y8JS9"/>
        </identifiers>
        <balance>109237.50000000</balance>
        <units>OU</units>
        <descOthUnits>Notional</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>23850.00000000</valUSD>
        <pctVal>0.006311611070</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="FUTURE TRS" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS INTERNATIONAL</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <futrDeriv derivCat="FUT">
                  <counterparties>
                    <counterpartyName>N/A</counterpartyName>
                    <counterpartyLei>N/A</counterpartyLei>
                  </counterparties>
                  <derivAddlInfo>
                    <name>ASDZ1 FUTURE</name>
                    <lei>N/A</lei>
                    <title>ASDZ1 FUTURE</title>
                    <cusip>N/A</cusip>
                    <identifiers>
                      <ticker value="ASDZ1"/>
                    </identifiers>
                    <balance>N/A</balance>
                    <units>NC</units>
                    <descOthUnits>N/A</descOthUnits>
                    <curCd>USD</curCd>
                    <valUSD>N/A</valUSD>
                    <pctVal>N/A</pctVal>
                    <assetCat>DE</assetCat>
                    <issuerConditional desc="Index Future" issuerCat="OTHER"/>
                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
                  </derivAddlInfo>
                  <payOffProf>N/A</payOffProf>
                  <descRefInstrmnt>
                    <indexBasketInfo>
                      <indexName>S&amp;P 500 Annual Dividend DEC21</indexName>
                      <indexIdentifier>ASDZ1</indexIdentifier>
                    </indexBasketInfo>
                  </descRefInstrmnt>
                  <expDate>2021-12-17</expDate>
                  <notionalAmt>0.00</notionalAmt>
                  <curCd>USD</curCd>
                </futrDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <swapFlag>N</swapFlag>
            <otherRecDesc fixedOrFloating="Other">ASDZ1 FUTURE TRS</otherRecDesc>
            <fixedPmntDesc amount="0.00" curCd="USD" fixedOrFloating="Fixed" fixedRt="0"/>
            <terminationDt>2021-12-17</terminationDt>
            <upfrontPmnt>0</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>109237.5</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>23850</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TRANSDIGM INC.</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TRANSDIGM INC</title>
        <cusip>893647BE6</cusip>
        <identifiers>
          <isin value="US893647BE67"/>
        </identifiers>
        <balance>681000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>730372.50000000</valUSD>
        <pctVal>0.193284157498</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</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>HKT Trust and HKT Limited</name>
        <lei>N/A</lei>
        <title>HKT TRUST &amp; HKT LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0000093390"/>
        </identifiers>
        <balance>84000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>133558.22000000</valUSD>
        <pctVal>0.035344550937</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="units"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASDZ0 FUTURE TRS</name>
        <lei>N/A</lei>
        <title>ASDZ0 FUTURE TRS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ASDZ0"/>
          <other otherDesc="Internal" value="BRT2YAFE9"/>
        </identifiers>
        <balance>83956.25000000</balance>
        <units>OU</units>
        <descOthUnits>Notional</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>19118.75000000</valUSD>
        <pctVal>0.005059543570</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="FUTURE TRS" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <swapDeriv derivCat="SWP">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS INTERNATIONAL</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <futrDeriv derivCat="FUT">
                  <counterparties>
                    <counterpartyName>N/A</counterpartyName>
                    <counterpartyLei>N/A</counterpartyLei>
                  </counterparties>
                  <derivAddlInfo>
                    <name>ASDZ0 FUTURE</name>
                    <lei>N/A</lei>
                    <title>ASDZ0 FUTURE</title>
                    <cusip>N/A</cusip>
                    <identifiers>
                      <ticker value="ASDZ0"/>
                    </identifiers>
                    <balance>N/A</balance>
                    <units>NC</units>
                    <descOthUnits>N/A</descOthUnits>
                    <curCd>USD</curCd>
                    <valUSD>N/A</valUSD>
                    <pctVal>N/A</pctVal>
                    <assetCat>DE</assetCat>
                    <issuerConditional desc="Index Future" issuerCat="OTHER"/>
                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
                  </derivAddlInfo>
                  <payOffProf>N/A</payOffProf>
                  <descRefInstrmnt>
                    <indexBasketInfo>
                      <indexName>S&amp;P 500 Annual Dividend DEC 20</indexName>
                      <indexIdentifier>ASDZ0</indexIdentifier>
                    </indexBasketInfo>
                  </descRefInstrmnt>
                  <expDate>2020-12-18</expDate>
                  <notionalAmt>0.00</notionalAmt>
                  <curCd>USD</curCd>
                </futrDeriv>
              </nestedDerivInfo>
            </descRefInstrmnt>
            <swapFlag>N</swapFlag>
            <otherRecDesc fixedOrFloating="Other">ASDZ0 FUTURE TRS</otherRecDesc>
            <fixedPmntDesc amount="0.00" curCd="USD" fixedOrFloating="Fixed" fixedRt="0"/>
            <terminationDt>2020-12-17</terminationDt>
            <upfrontPmnt>0</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>83956.25</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>19118.75</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zijin Mining Group Company Limited</name>
        <lei>529900ABI5CBFXD01Q05</lei>
        <title>ZIJIN MINING GROUP CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000502"/>
        </identifiers>
        <balance>42000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>14463.19000000</valUSD>
        <pctVal>0.003827506503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUMITOMO MITSUI FINANCIAL GR (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>SUMITOMO MITSUI FINANCIAL GR (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="8316"/>
          <other otherDesc="Internal" value="BRTHRA1T6"/>
        </identifiers>
        <balance>14063.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>791.81000000</valUSD>
        <pctVal>0.000209542841</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SUMITOMO MITSUI FINANCIAL GR (CALL OPTION)</issuerName>
                <issueTitle>SUMITOMO MITSUI FINANCIAL GR (CALL OPTION)</issueTitle>
                <identifiers>
                  <cusip value="000000000"/>
                  <other otherDesc="OTHER" value="6563024"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>14063.00000000</shareNo>
            <exercisePrice>4756</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-03-13</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-43140.89</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ING Groep N.V.</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING GROEP NV</title>
        <cusip>456837AK9</cusip>
        <identifiers>
          <isin value="US456837AK90"/>
        </identifiers>
        <balance>410000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>435431.07000000</valUSD>
        <pctVal>0.115231512021</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EURO STOXX 50 PRICE INDEX (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>EURO STOXX 50 PRICE INDEX (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SX5E"/>
          <other otherDesc="Internal" value="BRTV5CNK0"/>
        </identifiers>
        <balance>201.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>3791.87000000</valUSD>
        <pctVal>0.001003472061</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
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        <name>EMERSON ELECTRIC CO.</name>
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        <name>Lowe`s Companies, Inc.</name>
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        <name>NASDAQ 100 E-MINI FUTURE DEC19</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>KURARAY CO.,LTD.</name>
        <lei>549300W9JPTOE739QZ31</lei>
        <title>KURARAY CO. LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3269600007"/>
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        <balance>2900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>35877.29000000</valUSD>
        <pctVal>0.009494486403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Daqin Railway Co., Ltd.</name>
        <lei>N/A</lei>
        <title>DAQIN RAILWAY CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000001NG4"/>
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        <balance>1300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.13840000"/>
        <valUSD>1382.95000000</valUSD>
        <pctVal>0.000365980818</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THE KROGER CO.</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>KROGER CO/THE (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="KR"/>
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        <balance>19813.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>9029.53000000</valUSD>
        <pctVal>0.002389554780</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>THE KROGER CO.</issuerName>
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                  <cusip value="501044101"/>
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            <shareNo>19813.00000000</shareNo>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-10-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-11132.18</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BECTON, DICKINSON AND COMPANY</name>
        <lei>ICE2EP6D98PQUILVRZ91</lei>
        <title>BECTON DICKINSON &amp; CO.</title>
        <cusip>075887109</cusip>
        <identifiers>
          <isin value="US0758871091"/>
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        <balance>7623.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1928314.08000000</valUSD>
        <pctVal>0.510304758661</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MARSH &amp; MCLENNAN COMPANIES, INC.</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>MARSH &amp; MCLENNAN COS INC</title>
        <cusip>571748BF8</cusip>
        <identifiers>
          <isin value="US571748BF82"/>
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        <balance>152000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>161726.78000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>N/A</lei>
        <title>5-YEAR US TREASURY NOTE FUTURE DEC19</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US9128286G05"/>
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        <balance>116.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-6866.10000000</valUSD>
        <pctVal>-0.00181702946</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Treasury Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>XCBT</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>United States of America</issuerName>
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                  <cusip value="N/A"/>
                  <isin value="US9128286G05"/>
                  <ticker value="FVZ9"/>
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            </descRefInstrmnt>
            <expDate>2019-12-31</expDate>
            <notionalAmt>13828084.85</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-6866.1</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APPLE INC.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC</title>
        <cusip>037833CJ7</cusip>
        <identifiers>
          <isin value="US037833CJ77"/>
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        <balance>462000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>493381.81000000</valUSD>
        <pctVal>0.130567467245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.35000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco QQQ Trust Series 1</name>
        <lei>N/A</lei>
        <title>INVESCO QQQ TRUST (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="QQQ"/>
        </identifiers>
        <balance>-67.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-4020.00000000</valUSD>
        <pctVal>-0.00106384387</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Invesco QQQ Trust Series 1</issuerName>
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                  <cusip value="46090E103"/>
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            </descRefInstrmnt>
            <shareNo>67.00000000</shareNo>
            <exercisePrice>178</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-10-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>4089.1</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EURO STOXX 50 PRICE INDEX (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>EURO STOXX 50 PRICE INDEX (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SX7E"/>
          <other otherDesc="Internal" value="BRTSL7DW5"/>
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        <balance>4979.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <pctVal>0.002534091996</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>EURO STOXX 50 PRICE INDEX (CALL OPTION)</indexName>
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            <shareNo>4979.00000000</shareNo>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2021-03-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-12733.56</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WHARF REAL ESTATE INVESTMENT COMPANY LIMITED</name>
        <lei>529900QLPKS8U9QOPB59</lei>
        <title>WHARF REAL ESTATE INVESTMENT</title>
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        <identifiers>
          <isin value="KYG9593A1040"/>
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        <balance>15000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>82237.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MCDONALD'S CORPORATION</name>
        <lei>UE2136O97NLB5BYP9H04</lei>
        <title>MCDONALD'S CORP.</title>
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          <isin value="US5801351017"/>
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        <balance>4571.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>981439.41000000</valUSD>
        <pctVal>0.259725947372</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHINA INTERNATIONAL CAPITAL CORP</name>
        <lei>N/A</lei>
        <title>CHINA INTERNATIONAL CAPITAL CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100002359"/>
          <other otherDesc="Internal" value="SBZ169C65"/>
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        <balance>-1200.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>-2327.28000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP</counterpartyName>
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            <descRefInstrmnt>
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                <issuerName>CHINA INTERNATIONAL CAPITAL CORP</issuerName>
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            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-2440.88000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>113.60000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>MERCK &amp; CO., INC.</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>MERCK &amp; CO INC (PUT OPTION)</title>
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          <isin value="N/A"/>
          <ticker value="MRK"/>
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        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>MERCK &amp; CO., INC.</issuerName>
                <issueTitle>MERCK &amp; CO INC (PUT OPTION)</issueTitle>
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            </descRefInstrmnt>
            <shareNo>40.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>730.45</unrealizedAppr>
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      <invstOrSec>
        <name>ALIBABA GROUP HOLDING LTD (PUT OPTION)</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO.</title>
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          <isin value="US9497461015"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JAPANESE YEN</name>
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        <title>JAPANESE YEN</title>
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          <other otherDesc="Internal" value="JPY_20191205_MORGANSTANLEY_431956"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>MORGAN STANLEY</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>949000.00000000</amtCurSold>
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            <amtCurPur>100283041.00000000</amtCurPur>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DASSAULT AVIATION SA</name>
        <lei>969500CVFTUT88V8QN95</lei>
        <title>DASSAULT AVIATION SA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000121725"/>
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        <balance>393.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EIFFAGE S.A.</name>
        <lei>969500OQXKE5WDM9M994</lei>
        <title>EIFFAGE SA</title>
        <cusip>N/A</cusip>
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          <isin value="FR0000130452"/>
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        <balance>1276.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>U.S. BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>U.S. BANCORP</title>
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          <isin value="US9029733048"/>
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        <balance>4842.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>267956.28000000</valUSD>
        <pctVal>0.070911355269</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ONEOK PARTNERS, L.P.</name>
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        <title>ONEOK PARTNERS LP</title>
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        <identifiers>
          <isin value="US68268NAP87"/>
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        <balance>315000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>346022.15000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ZTO EXPRESS CAYMAN ADR REPRESENTIN</name>
        <lei>N/A</lei>
        <title>ZTO EXPRESS CAYMAN ADR REPRESENTIN</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US98980A1051"/>
          <other otherDesc="Internal" value="98980A105"/>
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        <balance>-1218.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-25979.94000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>ZTO EXPRESS CAYMAN ADR REPRESENTIN</issuerName>
                <issueTitle>ZTO EXPRESS CAYMAN ADR REPRESENTIN</issueTitle>
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                  <isin value="US98980A1051"/>
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            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-24367.92000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-1612.02000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THE GOLDMAN SACHS GROUP, INC.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC</title>
        <cusip>38148BAB4</cusip>
        <identifiers>
          <isin value="US38148BAB45"/>
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        <balance>281000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>283810.00000000</valUSD>
        <pctVal>0.075106848545</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EMERSON ELECTRIC CO.</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
        <title>EMERSON ELECTRIC CO (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="EMR"/>
        </identifiers>
        <balance>-29.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2900.00000000</valUSD>
        <pctVal>-0.00076744956</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>EMERSON ELECTRIC CO.</issuerName>
                <issueTitle>EMERSON ELECTRIC CO (PUT OPTION)</issueTitle>
                <identifiers>
                  <cusip value="291011104"/>
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            </descRefInstrmnt>
            <shareNo>29.00000000</shareNo>
            <exercisePrice>60</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>1276.89</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROYAL DUTCH SHELL PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>ROYAL DUTCH SHELL ADR</title>
        <cusip>780259206</cusip>
        <identifiers>
          <isin value="US7802592060"/>
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        <balance>12827.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>754868.95000000</valUSD>
        <pctVal>0.199766843661</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="ADR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Venustech Group Inc.</name>
        <lei>N/A</lei>
        <title>VENUSTECH GROUP INC-A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000QJ2"/>
        </identifiers>
        <balance>13599.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.13840000"/>
        <valUSD>60994.07000000</valUSD>
        <pctVal>0.016141335321</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CGN Power Co., Ltd.</name>
        <lei>529900D2UINCGWQYBK45</lei>
        <title>CGN POWER CO LTD-H</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001T80"/>
        </identifiers>
        <balance>27000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>6836.11000000</valUSD>
        <pctVal>0.001809092979</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Knorr-Bremse Aktiengesellschaft</name>
        <lei>5299001GRRO0Z25YZT52</lei>
        <title>KNORR-BREMSE AG</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000KBX1006"/>
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        <balance>11872.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>1115789.51000000</valUSD>
        <pctVal>0.295280059676</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Koninklijke Philips N.V.</name>
        <lei>H1FJE8H61JGM1JSGM897</lei>
        <title>KONINKLIJKE PHILIPS NV</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0000009538"/>
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        <balance>54230.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <pctVal>0.665159300012</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KB Financial Group Inc.</name>
        <lei>529900TKE4MXG3Q6GW86</lei>
        <title>KB FINANCIAL GROUP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7105560007"/>
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        <balance>477.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1196.00000000"/>
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        <pctVal>0.004516109887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Dali Foods Group Co Ltd</name>
        <lei>52990093PPQC644N7T38</lei>
        <title>DALI FOODS GROUP COMPANY LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG2743Y1061"/>
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        <balance>13000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
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        <pctVal>0.002112037078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>ANTA SPORTS PRODUCTS LIMITED</name>
        <lei>529900291XG0CTK4LF95</lei>
        <title>ANTA SPORTS PRODUCTS LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG040111059"/>
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        <balance>7000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Haitong Securities Co., Ltd.</name>
        <lei>300300E1003931000068</lei>
        <title>HAITONG SECURITIES CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000019K9"/>
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        <balance>7200.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>MediaTek Inc.</name>
        <lei>254900UEGBK1I4DM4E14</lei>
        <title>MEDIATEK INC</title>
        <cusip>N/A</cusip>
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        <balance>2000.00000000</balance>
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        <currencyConditional curCd="TWD" exchangeRt="31.02300000"/>
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        <pctVal>0.006310015304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TREASURY BILL</title>
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        <identifiers>
          <isin value="US912796SX88"/>
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        <balance>1340000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1334898.14000000</valUSD>
        <pctVal>0.353264481256</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-12-19</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>QUALCOMM INCORPORATED</name>
        <lei>H1J8DDZKZP6H7RWC0H53</lei>
        <title>QUALCOMM, INC.</title>
        <cusip>747525103</cusip>
        <identifiers>
          <isin value="US7475251036"/>
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        <balance>6031.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>460044.68000000</valUSD>
        <pctVal>0.121745203146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EURO STOXX 50 PRICE INDEX (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>EURO STOXX 50 PRICE INDEX (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SX5E"/>
          <other otherDesc="Internal" value="BRTUGFH38"/>
        </identifiers>
        <balance>108.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>13278.73000000</valUSD>
        <pctVal>0.003514053637</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>EURO STOXX 50 PRICE INDEX (CALL OPTION)</indexName>
                <indexIdentifier>SX5E </indexIdentifier>
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            </descRefInstrmnt>
            <shareNo>108.00000000</shareNo>
            <exercisePrice>3600</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-03-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>3634.38</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Estados Unidos Mexicanos</name>
        <lei>254900EGTWEU67VP6075</lei>
        <title>MEX BONOS DESARR FIX RT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MX0MGO000151"/>
        </identifiers>
        <balance>8700000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="MXN" exchangeRt="19.73100000"/>
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        <pctVal>0.123084574650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CASH</name>
        <lei>N/A</lei>
        <title>BLACKROCK LIQUIDITY FEDFUND INSTITUTIONAL SHARES</title>
        <cusip>09248U700</cusip>
        <identifiers>
          <isin value="N/A"/>
        </identifiers>
        <balance>2259467.90000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2259467.90000000</valUSD>
        <pctVal>0.597940570662</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="2259467.9" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THE WALT DISNEY COMPANY</name>
        <lei>549300GZKULIZ0WOW665</lei>
        <title>WALT DISNEY CO/THE</title>
        <cusip>254687106</cusip>
        <identifiers>
          <isin value="US2546871060"/>
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        <balance>373.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48609.36000000</valUSD>
        <pctVal>0.012863873152</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SUBARU CORPORATION</name>
        <lei>549300N244BVAEE6HH86</lei>
        <title>SUBARU CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3814800003"/>
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        <balance>43700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>1235464.28000000</valUSD>
        <pctVal>0.326950525217</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALIBABA GROUP HOLDING LIMITED</name>
        <lei>5493001NTNQJDH60PM02</lei>
        <title>ALIBABA GROUP HOLDING LTD ADR</title>
        <cusip>01609W102</cusip>
        <identifiers>
          <isin value="US01609W1027"/>
        </identifiers>
        <balance>11905.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1990873.15000000</valUSD>
        <pctVal>0.526860252109</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="ADR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SUMITOMO MITSUI FINANCIAL GR (PUT OPTION)</name>
        <lei>N/A</lei>
        <title>SUMITOMO MITSUI FINANCIAL GR (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="8316"/>
          <other otherDesc="Internal" value="BRTHRA1W9"/>
        </identifiers>
        <balance>-14063.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>-36639.22000000</valUSD>
        <pctVal>-0.00969612186</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SUMITOMO MITSUI FINANCIAL GR (PUT OPTION)</issuerName>
                <issueTitle>SUMITOMO MITSUI FINANCIAL GR (PUT OPTION)</issueTitle>
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                  <cusip value="000000000"/>
                  <other otherDesc="OTHER" value="6563024"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>14063.00000000</shareNo>
            <exercisePrice>3833</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-03-13</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-5411.39</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MITSUBISHI MOTORS CORPORATION</name>
        <lei>N/A</lei>
        <title>MITSUBISHI MOTORS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3899800001"/>
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        <balance>1200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>5237.70000000</valUSD>
        <pctVal>0.001386093304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Astellas Pharma Inc.</name>
        <lei>529900IB708DY2HBBB35</lei>
        <title>ASTELLAS PHARMA. INC.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3942400007"/>
        </identifiers>
        <balance>84300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>1204946.16000000</valUSD>
        <pctVal>0.318874277668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>S-Oil Corporation</name>
        <lei>988400QTUXYDN8W3MZ32</lei>
        <title>S-OIL CORP.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7010950004"/>
        </identifiers>
        <balance>867.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1196.00000000"/>
        <valUSD>72375.32000000</valUSD>
        <pctVal>0.019153244063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MASTERCARD INCORPORATED.</name>
        <lei>AR5L2ODV9HN37376R084</lei>
        <title>MATERCARD INC. - CLASS A</title>
        <cusip>57636Q104</cusip>
        <identifiers>
          <isin value="US57636Q1040"/>
        </identifiers>
        <balance>2244.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>609403.08000000</valUSD>
        <pctVal>0.161271078654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>A.P. MOELLER - MAERSK A/S</name>
        <lei>549300D2K6PKKKXVNN73</lei>
        <title>A P MOLLER - MAERSK A/S</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DK0010244425"/>
        </identifiers>
        <balance>39.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.84870000"/>
        <valUSD>41703.31000000</valUSD>
        <pctVal>0.011036271407</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VALERO ENERGY CORPORATION</name>
        <lei>549300XTO5VR8SKV1V74</lei>
        <title>VALERO ENERGY CORP.</title>
        <cusip>91913Y100</cusip>
        <identifiers>
          <isin value="US91913Y1001"/>
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        <balance>334.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28470.16000000</valUSD>
        <pctVal>0.007534279959</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TELEFONICA SA</name>
        <lei>N/A</lei>
        <title>TELEFONICA SA</title>
        <cusip>879382109</cusip>
        <identifiers>
          <isin value="ES0178430E18"/>
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        <balance>3845.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>29356.18000000</valUSD>
        <pctVal>0.007768754325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Willis Towers Watson Public Limited Company</name>
        <lei>549300WHC56FF48KL350</lei>
        <title>WILLIS TOWERS WATSON PLC</title>
        <cusip>G96629103</cusip>
        <identifiers>
          <isin value="IE00BDB6Q211"/>
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        <balance>2.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>385.94000000</valUSD>
        <pctVal>0.000102134305</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WYNDHAM DESTINATIONS, INC.</name>
        <lei>T4VNTWMFQ7JQB65L7T35</lei>
        <title>WYNDHAM DESTINATIONS INC</title>
        <cusip>98310W108</cusip>
        <identifiers>
          <isin value="US98310W1080"/>
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        <balance>662.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30465.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>5Y RTP 1.555% 11/6/19</name>
        <lei>N/A</lei>
        <title>5Y RTP 1.555% 11/6/19</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTVV0HG3"/>
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        <balance>546.05090000</balance>
        <units>OU</units>
        <descOthUnits>Notional</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>18470.99000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="IRS SWAPTION" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="SWO">
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              <counterpartyName>CITIBANK NA</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                      <other otherDesc="Internal" value="BRTVV0HGS"/>
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                    <balance>N/A</balance>
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                    <valUSD>N/A</valUSD>
                    <pctVal>N/A</pctVal>
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                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <descRefInstrmnt>
                    <indexBasketInfo>
                      <indexName>US DOLLAR 3 MO LIBOR - BBA 11AM</indexName>
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                  <rcptCurCd>USD</rcptCurCd>
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            <shareNo>546.05090000</shareNo>
            <exercisePrice>1.555</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-10-09</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-8831.56</unrealizedAppr>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>China Mobile Limited</name>
        <lei>529900U2JJ7GK68NI589</lei>
        <title>CHINA MOBILE LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0941009539"/>
        </identifiers>
        <balance>4500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>37347.57000000</valUSD>
        <pctVal>0.009883578040</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASTRAZENECA PLC</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>ASTRAZENECA PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0009895292"/>
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        <balance>6597.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81347000"/>
        <valUSD>586122.12000000</valUSD>
        <pctVal>0.155110057067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nestle S.A.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>REGENERON PHARMACEUTICALS, INC.</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LOTTE CORP</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <delta>XXXX</delta>
            <unrealizedAppr>626.83000000</unrealizedAppr>
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      <invstOrSec>
        <name>ORACLE CORPORATION</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP.</title>
        <cusip>68389X105</cusip>
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          <isin value="US68389X1054"/>
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        <balance>19257.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DAVITA INC.</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
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          <isin value="US23918K1088"/>
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        <balance>11063.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>631365.41000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Tsingtao Brewery Company Limited</name>
        <lei>5299001HPFTEVOPKOQ55</lei>
        <title>TSINGTAO BREWERY CO LTD</title>
        <cusip>N/A</cusip>
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          <isin value="CNE1000004K1"/>
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        <balance>4000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COMFORTDELGRO CORPORATION LIMITED</name>
        <lei>2549005O5PVA2JCH6Q33</lei>
        <title>COMFORTDELGRO CORP. LTD.</title>
        <cusip>N/A</cusip>
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          <isin value="SG1N31909426"/>
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        <balance>70800.00000000</balance>
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        <currencyConditional curCd="SGD" exchangeRt="1.38180000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Lowe`s Companies, Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>LOWE'S COS INC (CALL OPTION)</title>
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        <identifiers>
          <isin value="N/A"/>
          <ticker value="LOW"/>
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        <balance>-6515.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-752.97000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>Lowe`s Companies, Inc.</issuerName>
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            <shareNo>6515.00000000</shareNo>
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            <unrealizedAppr>3071.99</unrealizedAppr>
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      <invstOrSec>
        <name>GALAXY ENTERTAINMENT GROUP LTD</name>
        <lei>N/A</lei>
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        <identifiers>
          <isin value="HK0027032686"/>
          <other otherDesc="Internal" value="S64658743"/>
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        <balance>-5000.00000000</balance>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
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                <issuerName>GALAXY ENTERTAINMENT GROUP LTD</issuerName>
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            <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>SUNNY OPTICAL TECHNOLOGY LTD</name>
        <lei>N/A</lei>
        <title>SUNNY OPTICAL TECHNOLOGY LTD</title>
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          <isin value="KYG8586D1097"/>
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        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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        <securityLending>
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      <invstOrSec>
        <name>EURO STOXX 50 PRICE INDEX (CALL OPTION)</name>
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          <ticker value="SX5E"/>
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        <invCountry>N/A</invCountry>

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            <putOrCall>Call</putOrCall>
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            <shareNo>145.00000000</shareNo>
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      <invstOrSec>
        <name>ESSILORLUXOTTICA SA</name>
        <lei>549300M3VH1A3ER1TB49</lei>
        <title>ESSILORLUXOTTICA</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MICRON TECHNOLOGY, INC.</name>
        <lei>B3DXGBC8GAIYWI2Z0172</lei>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>POSCO</name>
        <lei>988400E5HRVX81AYLM04</lei>
        <title>POSCO</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>DXC TECHNOLOGY COMPANY</name>
        <lei>549300DOVZ3EDJB7O259</lei>
        <title>DXC TECHNOLOGY CO</title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Great Wall Motor Company Limited</name>
        <lei>254900CR8AHWTMFZHH60</lei>
        <title>GREAT WALL MOTOR CO LTD-A</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>CHEVRON CORPORATION</name>
        <lei>N/A</lei>
        <title>CHEVRON CORP.</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>EURO</name>
        <lei>N/A</lei>
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        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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            <curPur>EUR</curPur>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co., Ltd.</name>
        <lei>549300KB6NK5SBD14S87</lei>
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        <cusip>N/A</cusip>
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          <isin value="TW0002330008"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ADVANCED MICRO DEVICES INC</name>
        <lei>N/A</lei>
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          <isin value="US0079031078"/>
          <other otherDesc="Internal" value="007903107"/>
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        <balance>-954.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-27656.46000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>JP MORGAN SECURITIES PLC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>ADVANCED MICRO DEVICES INC</issuerName>
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                  <isin value="US0079031078"/>
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            <terminationDt>2039-12-31</terminationDt>
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            <delta>XXXX</delta>
            <unrealizedAppr>-46.63000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>Alfresa Holdings Corporation</name>
        <lei>N/A</lei>
        <title>ALFRESA HOLDINGS CORP.</title>
        <cusip>N/A</cusip>
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          <isin value="JP3126340003"/>
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        <balance>3900.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COSTCO WHOLESALE CORPORATION</name>
        <lei>29DX7H14B9S6O3FD6V18</lei>
        <title>COSTCO WHOLESALE CORP.</title>
        <cusip>22160K105</cusip>
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          <isin value="US22160K1051"/>
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        <balance>175.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50419.25000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RIO TINTO PLC</name>
        <lei>213800YOEO5OQ72G2R82</lei>
        <title>RIO TINTO PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0007188757"/>
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        <balance>45.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81347000"/>
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        <pctVal>0.000618434676</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. TREASURY NOTE</title>
        <cusip>912828G61</cusip>
        <identifiers>
          <isin value="US912828G617"/>
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        <balance>3680000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3677125.00000000</valUSD>
        <pctVal>0.973106199427</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>5Y RTP 1.53% 11/27/19</name>
        <lei>N/A</lei>
        <title>5Y RTP 1.53% 11/27/19</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTWE4UL6"/>
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        <balance>386.43170000</balance>
        <units>OU</units>
        <descOthUnits>Notional</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>18600.00000000</valUSD>
        <pctVal>0.004922262721</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="IRS SWAPTION" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO. INTERNATIONAL</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <nestedDerivInfo>
                <swapDeriv derivCat="SWP">
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                    <counterpartyName>N/A</counterpartyName>
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                      <other otherDesc="Internal" value="BRTWE4ULS"/>
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                    <balance>N/A</balance>
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                    <curCd>USD</curCd>
                    <valUSD>N/A</valUSD>
                    <pctVal>N/A</pctVal>
                    <assetCat>DIR</assetCat>
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                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <descRefInstrmnt>
                    <indexBasketInfo>
                      <indexName>US DOLLAR 3 MO LIBOR - BBA 11AM</indexName>
                      <indexIdentifier>: 3M LIBOR</indexIdentifier>
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                  <rcptCurCd>USD</rcptCurCd>
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            <shareNo>386.43170000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>7007.05</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>INTERNATIONAL BUSINESS MACHINES CORPORATION</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>INTERNATIONAL BUSINESS MACHINES CORP.</title>
        <cusip>459200101</cusip>
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          <isin value="US4592001014"/>
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        <balance>260.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37809.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EURO</name>
        <lei>N/A</lei>
        <title>EURO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="EUR_20191122_UBSWARBURG_430360"/>
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        <balance>-677000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <currencyConditional curCd="EUR" exchangeRt="1.00000000"/>
        <valUSD>-13256.20000000</valUSD>
        <pctVal>-0.00350809134</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS WARBURG</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>753968.81000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>677000.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2019-11-22</settlementDt>
            <unrealizedAppr>-13256.2</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VISA INC.</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>VISA INC., CLASS A</title>
        <cusip>92826C839</cusip>
        <identifiers>
          <isin value="US92826C8394"/>
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        <balance>3746.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>644349.46000000</valUSD>
        <pctVal>0.170519211102</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TOAGOSEI CO., LTD.</name>
        <lei>N/A</lei>
        <title>TOAGOSEI CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3556400004"/>
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        <balance>12400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>140598.44000000</valUSD>
        <pctVal>0.037207659134</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EURO STOXX 50 PRICE INDEX (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>EURO STOXX 50 PRICE INDEX (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SX5E"/>
          <other otherDesc="Internal" value="SX5ECC385"/>
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        <balance>1089.00000000</balance>
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        <valUSD>5103.20000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>EURO STOXX 50 PRICE INDEX (CALL OPTION)</indexName>
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            <shareNo>1089.00000000</shareNo>
            <exercisePrice>3850</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-6730.01</unrealizedAppr>
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      <invstOrSec>
        <name>OLD MUTUAL LIMITED</name>
        <lei>N/A</lei>
        <title>OLD MUTUAL LTD</title>
        <cusip>N/A</cusip>
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          <isin value="ZAE000255360"/>
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        <balance>12631.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>PELOTON INTERACTIVE, INC.</name>
        <lei>5493002YS021166W0339</lei>
        <title>PELOTON INTERACTIVE INC-A</title>
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          <isin value="US70614W1009"/>
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        <balance>2809.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>QUALCOMM INC (PUT OPTION)</name>
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          <ticker value="QCOM"/>
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        <isRestrictedSec>N</isRestrictedSec>

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            <shareNo>3513.00000000</shareNo>
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      <invstOrSec>
        <name>THE GOLDMAN SACHS GROUP, INC.</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC</title>
        <cusip>38141GXE9</cusip>
        <identifiers>
          <isin value="US38141GXE96"/>
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        <balance>309000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REI AGRO LIMITED</name>
        <lei>N/A</lei>
        <title>REI AGRO LTD</title>
        <cusip>Y7253SAB6</cusip>
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          <isin value="USY7253SAB61"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>0.04000000</valUSD>
        <pctVal>0.000000010585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2014-11-13</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>Y</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>REI AGRO LTD</name>
              <title>REI AGRO LTD</title>
              <curCd>USD</curCd>
              <identifiers>
                <isin value="USY7253SAB61"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="1006.8523" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VERIZON COMMUNICATIONS INC.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMUNICATIONS, INC.</title>
        <cusip>92343V104</cusip>
        <identifiers>
          <isin value="US92343V1044"/>
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        <balance>16484.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>994974.24000000</valUSD>
        <pctVal>0.263307774746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YEN DENOMINATED NIKKEI 225 FUTURE DEC19</name>
        <lei>N/A</lei>
        <title>YEN DENOMINATED NIKKEI 225 FUTURE DEC19</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="N1Z9"/>
        </identifiers>
        <balance>-60.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>-185744.46000000</valUSD>
        <pctVal>-0.04915500167</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Future" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>XCME</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>YEN DENOM NIKKEI Dec 2019</indexName>
                <indexIdentifier>N1Z9</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2019-12-13</expDate>
            <notionalAmt>-5881686.86</notionalAmt>
            <curCd>JPY</curCd>
            <unrealizedAppr>-185744.46</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KINGDEE INTERNATIONAL SOFTWARE GROUP COMPANY LIMITED</name>
        <lei>529900SWRZN94C5SZO63</lei>
        <title>KINGDEE INTERNATIONAL SOFTWARE GROUP CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG525681477"/>
        </identifiers>
        <balance>64000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>67954.94000000</valUSD>
        <pctVal>0.017983444510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EMERSON ELECTRIC CO.</name>
        <lei>FGLT0EWZSUIRRITFOA30</lei>
        <title>EMERSON ELECTRIC CO (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="EMR"/>
        </identifiers>
        <balance>-6408.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2813.40000000</valUSD>
        <pctVal>-0.00074453193</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>EMERSON ELECTRIC CO.</issuerName>
                <issueTitle>EMERSON ELECTRIC CO (PUT OPTION)</issueTitle>
                <identifiers>
                  <cusip value="291011104"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>6408.00000000</shareNo>
            <exercisePrice>55</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>7706.76</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. DOLLAR</name>
        <lei>N/A</lei>
        <title>U.S. DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="USD_20191203_BANKNATIONALPARIS_431958"/>
        </identifiers>
        <balance>5763596.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-4575.06000000</valUSD>
        <pctVal>-0.00121073372</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK NATIONAL PARIS</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <amtCurSold>5763596.00000000</amtCurSold>
            <curSold>ZAR</curSold>
            <amtCurPur>373000.00000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-12-03</settlementDt>
            <unrealizedAppr>-4575.06</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LEAR CORPORATION</name>
        <lei>549300UPNBTXA1SYTQ33</lei>
        <title>LEAR CORP</title>
        <cusip>521865204</cusip>
        <identifiers>
          <isin value="US5218652049"/>
        </identifiers>
        <balance>141.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16623.90000000</valUSD>
        <pctVal>0.004399312002</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Glodon Company Limited</name>
        <lei>N/A</lei>
        <title>GLODON CO LTD-A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000PH8"/>
        </identifiers>
        <balance>11400.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.13840000"/>
        <valUSD>56916.47000000</valUSD>
        <pctVal>0.015062248307</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Stanley Electric Co., Ltd.</name>
        <lei>N/A</lei>
        <title>STANLEY ELECTRIC CO., LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3399400005"/>
        </identifiers>
        <balance>2300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>61306.88000000</valUSD>
        <pctVal>0.016224116666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BIOGEN INC.</name>
        <lei>W8J5WZB5IY3K0NDQT671</lei>
        <title>BIOGEN INC</title>
        <cusip>09062X103</cusip>
        <identifiers>
          <isin value="US09062X1037"/>
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        <balance>324.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>75433.68000000</valUSD>
        <pctVal>0.019962601666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Japan Aviation Electronics Industry, Limited</name>
        <lei>N/A</lei>
        <title>JAPAN AVIATION ELECTRONICS INDUSTRY LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3705600009"/>
        </identifiers>
        <balance>6200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>88618.48000000</valUSD>
        <pctVal>0.023451797877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PRUDENTIAL FINANCIAL, INC.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>PRUDENTIAL FINANCIAL INC</title>
        <cusip>744320AM4</cusip>
        <identifiers>
          <isin value="US744320AM42"/>
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        <balance>100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>107250.00000000</valUSD>
        <pctVal>0.028382401982</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</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>B3 S.A. - BRASIL, BOLSA, BALCAO</name>
        <lei>4GTK5S46E6H318LMDS44</lei>
        <title>B3 SA- BRASIL BOLSA BALCAO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRB3SAACNOR6"/>
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        <balance>100.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15460000"/>
        <valUSD>1050.16000000</valUSD>
        <pctVal>0.000277912011</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHINA HONGQIAO GROUP LIMITED</name>
        <lei>3003009Q4IBFSDE24571</lei>
        <title>CHINA HONGQIAO GROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG211501005"/>
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        <balance>6000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>3822.91000000</valUSD>
        <pctVal>0.001011686418</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SWISS FRANC</name>
        <lei>N/A</lei>
        <title>SWISS FRANC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="CHF_20191108_BANKNATIONALPARIS_425352"/>
        </identifiers>
        <balance>-111505.27000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <currencyConditional curCd="CHF" exchangeRt="1.00000000"/>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <counterparties>
              <counterpartyName>BANK NATIONAL PARIS</counterpartyName>
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            <amtCurSold>115000.00000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>111505.27000000</amtCurPur>
            <curPur>CHF</curPur>
            <settlementDt>2019-11-08</settlementDt>
            <unrealizedAppr>-2852.01</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SK TELECOM CO.,LTD</name>
        <lei>9884003WEA1PHW006037</lei>
        <title>SK TELECOM CO LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7017670001"/>
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        <balance>524.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1196.00000000"/>
        <valUSD>105448.05000000</valUSD>
        <pctVal>0.027905537933</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AGRICULTURAL BANK OF CHINA LIMITED</name>
        <lei>549300E7TSGLCOVSY746</lei>
        <title>AGRICULTURAL BANK OF CHINA LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000Q43"/>
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        <balance>18000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>7035.33000000</valUSD>
        <pctVal>0.001861814117</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HORMEL FOODS CORP</name>
        <lei>N/A</lei>
        <title>HORMEL FOODS CORP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US4404521001"/>
          <other otherDesc="Internal" value="440452100"/>
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        <balance>-1014.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-44342.22000000</valUSD>
        <pctVal>-0.01173462669</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>HORMEL FOODS CORP</issuerName>
                <issueTitle>HORMEL FOODS CORP</issueTitle>
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                  <isin value="US4404521001"/>
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            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-42323.12000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-2019.10000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>U.S. DOLLAR</name>
        <lei>N/A</lei>
        <title>U.S. DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="USD_20191101_GOLDMANSACHS_422183"/>
        </identifiers>
        <balance>2336238.33000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>69865.22000000</valUSD>
        <pctVal>0.018488976770</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>2336238.33000000</amtCurSold>
            <curSold>EUR</curSold>
            <amtCurPur>2622486.40000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-11-01</settlementDt>
            <unrealizedAppr>69865.22</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KINDEN CORPORATION</name>
        <lei>N/A</lei>
        <title>YEN KINDEN CORP.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3263000006"/>
        </identifiers>
        <balance>13600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>202731.91000000</valUSD>
        <pctVal>0.053650522743</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Gree Electric Appliances, Inc. of Zhuhai</name>
        <lei>N/A</lei>
        <title>GREE ELECTRIC APPLIANCES INC OF ZHUHAI</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE0000001D4"/>
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        <balance>4900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.13840000"/>
        <valUSD>39539.19000000</valUSD>
        <pctVal>0.010463563493</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENERGY TRANSFER OPERATING, L.P.</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>ENERGY TRANSFER OPERATING</title>
        <cusip>29278NAM5</cusip>
        <identifiers>
          <isin value="US29278NAM56"/>
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        <balance>104000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>115522.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ADOBE INC.</name>
        <lei>FU4LY2G4933NH2E1CP29</lei>
        <title>ADOBE INC</title>
        <cusip>00724F101</cusip>
        <identifiers>
          <isin value="US00724F1012"/>
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        <balance>2303.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>636203.75000000</valUSD>
        <pctVal>0.168363548485</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Asymchem Laboratories Tian Jin Co Ltd</name>
        <lei>N/A</lei>
        <title>ASYMCHEM LABORATORIES TIAN-A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100002BZ6"/>
        </identifiers>
        <balance>3685.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.13840000"/>
        <valUSD>61011.01000000</valUSD>
        <pctVal>0.016145818285</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BOERSE AG (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>DEUTSCHE BOERSE AG (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="DAX"/>
        </identifiers>
        <balance>171.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>848.21000000</valUSD>
        <pctVal>0.000224468411</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XEUR</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>DEUTSCHE BOERSE AG (CALL OPTION)</indexName>
                <indexIdentifier>DAX </indexIdentifier>
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            <shareNo>171.00000000</shareNo>
            <exercisePrice>13700</exercisePrice>
            <exercisePriceCurCd>EUR</exercisePriceCurCd>
            <expDt>2019-12-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-9758.05</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Canon Marketing Japan Inc.</name>
        <lei>529900WMTZBIIROD5K97</lei>
        <title>CANON MARKETING JAPAN INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3243600008"/>
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        <balance>3500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>74681.36000000</valUSD>
        <pctVal>0.019763509371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>QUINTIS (AUSTRALIA) PTY LIMITED</name>
        <lei>N/A</lei>
        <title>QUINTIS AUS PTY LTD</title>
        <cusip>74877UAB4</cusip>
        <identifiers>
          <isin value="US74877UAB44"/>
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        <balance>730672.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>730672.00000000</valUSD>
        <pctVal>0.193363416513</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ABBVIE INC.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBVIE INC.</title>
        <cusip>00287Y109</cusip>
        <identifiers>
          <isin value="US00287Y1091"/>
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        <balance>15293.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1157985.96000000</valUSD>
        <pctVal>0.306446834558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Republica Argentina</name>
        <lei>549300KPBYGYF7HCHO27</lei>
        <title>REPUBLIC OF ARGENTINA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="XS1715303340"/>
        </identifiers>
        <balance>210000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>86984.31000000</valUSD>
        <pctVal>0.023019334755</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HENGAN INTERNATIONAL GROUP COMPANY LIMITED</name>
        <lei>N/A</lei>
        <title>HENGAN INTERNATIONAL GROUP CO. LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG4402L1510"/>
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        <balance>9000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>58772.01000000</valUSD>
        <pctVal>0.015553294294</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>POLSKIE GORNICTWO NAFTOWE I GAZOWN</name>
        <lei>N/A</lei>
        <title>POLSKIE GORNICTWO NAFTOWE I GAZOWN</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="PLPGNIG00014"/>
          <other otherDesc="Internal" value="SB0L91132"/>
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        <balance>-5266.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="PLN" exchangeRt="4.00850000"/>
        <valUSD>-6179.68000000</valUSD>
        <pctVal>-0.00163537680</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>PL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS LIMITED</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
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                <issuerName>POLSKIE GORNICTWO NAFTOWE I GAZOWN</issuerName>
                <issueTitle>POLSKIE GORNICTWO NAFTOWE I GAZOWN</issueTitle>
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                  <isin value="PLPGNIG00014"/>
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            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-7126.22000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>946.54000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CSX Corporation</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX CORP.</title>
        <cusip>126408103</cusip>
        <identifiers>
          <isin value="US1264081035"/>
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        <balance>1069.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>74049.63000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>U.S. DOLLAR</name>
        <lei>N/A</lei>
        <title>U.S. DOLLAR</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal" value="USD_20191205_BOAMERRILLLYNCH_432645"/>
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        <balance>1316000.00000000</balance>
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        <descOthUnits>Contract Amount</descOthUnits>
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        <valUSD>-6742.44000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BOA MERRILL LYNCH</counterpartyName>
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            <amtCurSold>1316000.00000000</amtCurSold>
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            <settlementDt>2019-12-05</settlementDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SWIRE PACIFIC LIMITED</name>
        <lei>549300KZOZHII0DGF611</lei>
        <title>SWIRE PACIFIC LTD., CLASS A</title>
        <cusip>N/A</cusip>
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          <isin value="HK0019000162"/>
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        <balance>10000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KUNLUN ENERGY COMPANY LIMITED</name>
        <lei>5299007GRIKP15GM4927</lei>
        <title>KUNLUN ENERGY CO. LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG5320C1082"/>
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        <balance>8000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Dreyfus Treasury Securities Cash Management; Institutional Shares</name>
        <lei>N/A</lei>
        <title>DREYFUS TREASURY SECURITIES CASH MANAGEMENT</title>
        <cusip>261941108</cusip>
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          <isin value="US2619411083"/>
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        <balance>3339057.07000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3339057.07000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Formosa Plastics Corporation</name>
        <lei>254900KM6G17UTG1QN82</lei>
        <title>FORMOSA PLASTIC CORP.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0001301000"/>
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        <balance>33000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.02300000"/>
        <valUSD>100684.23000000</valUSD>
        <pctVal>0.026644851180</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GF Securities Company Limited</name>
        <lei>3003007E0Y3ZJ5HNA936</lei>
        <title>GF SECURITIES CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001TQ9"/>
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        <balance>600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>631.97000000</valUSD>
        <pctVal>0.000167243138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>DEUTSCHE BOERSE AG STOCK INDEX (CALL OPTION)</name>
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          <ticker value="DAX"/>
          <other otherDesc="Internal" value="DAXCC1370"/>
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        <payoffProfile>N/A</payoffProfile>
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        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <writtenOrPur>Purchased</writtenOrPur>
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              <indexBasketInfo>
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            <unrealizedAppr>-11194.23</unrealizedAppr>
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      <invstOrSec>
        <name>AGL ENERGY LIMITED</name>
        <lei>549300QAZ8A74DEDXO80</lei>
        <title>AGL ENERGY LTD.</title>
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          <isin value="AU000000AGL7"/>
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        <balance>3512.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORPORATION</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CORP.</title>
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          <isin value="US14040H1059"/>
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        <balance>301.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27384.98000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SPDR GOLD SHARES (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>SPDR GOLD SHARES (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="GLD"/>
          <other otherDesc="Internal" value="BRTX1V9F5"/>
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        <balance>13351.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>27102.82000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SPDR GOLD SHARES (CALL OPTION)</issuerName>
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                  <cusip value="78463V107"/>
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            </descRefInstrmnt>
            <shareNo>13351.00000000</shareNo>
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            <unrealizedAppr>-17745.86</unrealizedAppr>
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      <invstOrSec>
        <name>TODA CORPORATION</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <isin value="JP3627000007"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>TURKIYE PETROL RAFINERILERI ANONIM SIRKETI</name>
        <lei>789000RCNG97UV50EE03</lei>
        <title>TUPRAS-TURKIYE PETROL RAFINE</title>
        <cusip>N/A</cusip>
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          <isin value="TRATUPRS91E8"/>
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        <balance>127.00000000</balance>
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        <currencyConditional curCd="TRY" exchangeRt="5.63700000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PRUDENTIAL FINANCIAL, INC.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>PRUDENTIAL FINANCIAL, INC.</title>
        <cusip>744320102</cusip>
        <identifiers>
          <isin value="US7443201022"/>
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        <balance>384.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34540.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CITIGROUP INC.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP, INC.</title>
        <cusip>172967424</cusip>
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          <isin value="US1729674242"/>
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        <balance>14413.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>995650.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Shanghai Jahwa United Co., Ltd</name>
        <lei>N/A</lei>
        <title>SHANGHAI JAHWA UNITED CO-A</title>
        <cusip>N/A</cusip>
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          <isin value="CNE0000017K5"/>
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        <balance>11700.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP</title>
        <cusip>06051GFM6</cusip>
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          <isin value="US06051GFM69"/>
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        <balance>141000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>149722.26000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>USD/JPY (PUT OPTION)</name>
        <lei>N/A</lei>
        <title>USD/JPY (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTX0GM64"/>
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        <balance>-82760.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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            <principalAmt>100.00000000</principalAmt>
            <curCd>USD</curCd>
            <exercisePrice>102</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>4077.5</unrealizedAppr>
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      <invstOrSec>
        <name>KINDER MORGAN ENERGY PARTNERS, L.P.</name>
        <lei>549300PDHUGWPWGOT525</lei>
        <title>KINDER MORGAN ENER PART</title>
        <cusip>28370TAG4</cusip>
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          <isin value="US28370TAG40"/>
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        <balance>66000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-01</maturityDt>
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      <invstOrSec>
        <name>Hughes Satellite Systems Corporation</name>
        <lei>N/A</lei>
        <title>HUGHES SATELLITE SYSTEMS</title>
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        <curCd>USD</curCd>
        <valUSD>51720.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EBAY INC.</name>
        <lei>OML71K8X303XQONU6T67</lei>
        <title>EBAY, INC.</title>
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        <fairValLevel>1</fairValLevel>
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        <name>MARSH &amp; MCLENNAN COMPANIES, INC.</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>MARSH &amp; MCLENNAN COS INC</title>
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        <curCd>USD</curCd>
        <valUSD>71020.15000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ADIDAS AG</name>
        <lei>549300JSX0Z4CW0V5023</lei>
        <title>ADIDAS AG</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>S&amp;P 500 EMINI FUTURE DEC19</name>
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        <title>S&amp;P 500 EMINI FUTURE DEC19</title>
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        <identifiers>
          <isin value="N/A"/>
          <ticker value="ESZ9"/>
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        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>XCME</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>S&amp;P 500 Future (e-Mini) Dec 2019</indexName>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PPL CORP</name>
        <lei>N/A</lei>
        <title>PPL CORP</title>
        <cusip>N/A</cusip>
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          <isin value="US69351T1060"/>
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        <balance>-45.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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              <counterpartyName>JP MORGAN SECURITIES PLC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
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      <invstOrSec>
        <name>ALIBABA GROUP HOLDING LTD (CALL OPTION)</name>
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          <ticker value="BABA"/>
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        <payoffProfile>N/A</payoffProfile>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
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      <invstOrSec>
        <name>TOPIX BANK INDEX (PUT OPTION)</name>
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          <ticker value="TPNBNK"/>
          <other otherDesc="Internal" value="BRTHKH7N5"/>
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        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO.</name>
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          <isin value="US48128BAF85"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>THE GOLDMAN SACHS GROUP, INC.</name>
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          <isin value="US38141G1040"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>FLEETCOR TECHNOLOGIES, INC.</name>
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          <isin value="N/A"/>
          <ticker value="FLT"/>
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        <curCd>USD</curCd>
        <valUSD>-5250.00000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Put</putOrCall>
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      <invstOrSec>
        <name>SAP SE</name>
        <lei>529900D6BF99LW9R2E68</lei>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ONO PHARMACEUTICAL CO., LTD.</name>
        <lei>N/A</lei>
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          <isin value="JP3197600004"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Han's Laser Technology Industry Group Co., Ltd.</name>
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          <isin value="CNE000001JQ1"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>DANONE S.A.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>COMPAGNIE PETROLIERE IMPERIALE LTEE</name>
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        <title>IMPERIAL OIL LTD</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HUNTSMAN CORPORATION</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>CHEMIN DE FER CANADIEN PACIFIQUE LIMITEE</name>
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        <title>CANADIAN PACIFIC RAILWAY LTD</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>LOJAS AMERICANAS</name>
        <lei>N/A</lei>
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        <name>CONOCOPHILLIPS</name>
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        <name>Henkel AG &amp; Co. KGaA</name>
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        <name>Canada</name>
        <lei>4BFD7AQU0A75QLAHK410</lei>
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        <name>HILTON WORLDWIDE FINANCE LLC</name>
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        <name>Hangzhou Robam Appliances Co Ltd</name>
        <lei>N/A</lei>
        <title>HANGZHOU ROBAM APPLINACES COMPANY LIMITED</title>
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      <invstOrSec>
        <name>FORMOSA CHEMICALS &amp; FIBRE CORPORATION</name>
        <lei>254900OJX8UZOAIVSU82</lei>
        <title>FORMOSA CHEMICALS &amp; FIBRE CORP.</title>
        <cusip>N/A</cusip>
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          <isin value="TW0001326007"/>
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        <balance>31000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.02300000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SEMPRA ENERGY</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>SEMPRA ENERGY</title>
        <cusip>816851109</cusip>
        <identifiers>
          <isin value="US8168511090"/>
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        <balance>6614.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>976292.54000000</valUSD>
        <pctVal>0.258363891118</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>C.H. ROBINSON WORLDWIDE, INC.</name>
        <lei>529900WNWN5L0OVDHA79</lei>
        <title>C.H. ROBINSON WORLDWIDE, INC.</title>
        <cusip>12541W209</cusip>
        <identifiers>
          <isin value="US12541W2098"/>
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        <balance>2328.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>197367.84000000</valUSD>
        <pctVal>0.052230987162</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CIGNA CORPORATION</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>CIGNA CORP</title>
        <cusip>125523AE0</cusip>
        <identifiers>
          <isin value="US125523AE07"/>
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        <balance>359000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>366370.63000000</valUSD>
        <pctVal>0.096955510443</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SHOPIFY SUBORDINATE VOTING INC CLA</name>
        <lei>N/A</lei>
        <title>SHOPIFY SUBORDINATE VOTING INC CLA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CA82509L1076"/>
          <other otherDesc="Internal" value="SBX865C78"/>
        </identifiers>
        <balance>-53.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32470000"/>
        <valUSD>-16495.73000000</valUSD>
        <pctVal>-0.00436539337</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SHOPIFY SUBORDINATE VOTING INC CLA</issuerName>
                <issueTitle>SHOPIFY SUBORDINATE VOTING INC CLA</issueTitle>
                <identifiers>
                  <isin value="CA82509L1076"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-16904.72000000" curCd="USD"/>
            </notionalAmts>
            <delta>XXXX</delta>
            <unrealizedAppr>408.99000000</unrealizedAppr>
          </othDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Seven &amp; i Holdings Co., Ltd.</name>
        <lei>52990037G8JRM3TWGY86</lei>
        <title>SEVEN &amp; I HOLDINGS COMPANY</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3422950000"/>
        </identifiers>
        <balance>1800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>69084.23000000</valUSD>
        <pctVal>0.018282297309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="BAC"/>
        </identifiers>
        <balance>-5902.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1846.76000000</valUSD>
        <pctVal>-0.00048872246</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>BANK OF AMERICA CORPORATION</issuerName>
                <issueTitle>BANK OF AMERICA CORP (PUT OPTION)</issueTitle>
                <identifiers>
                  <cusip value="060505104"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>5902.00000000</shareNo>
            <exercisePrice>28.5</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-10-11</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>1325.57</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NEXTERA ENERGY CAPITAL HOLDINGS, INC.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NEXTERA ENERGY CAPITAL</title>
        <cusip>65339KBF6</cusip>
        <identifiers>
          <isin value="US65339KBF66"/>
        </identifiers>
        <balance>245000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>249018.00000000</valUSD>
        <pctVal>0.065899570879</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.90000000</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>THE WILLIAMS COMPANIES, INC.</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>WILLIAMS COMPANIES INC</title>
        <cusip>969457BW9</cusip>
        <identifiers>
          <isin value="US969457BW96"/>
        </identifiers>
        <balance>126000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>135153.52000000</valUSD>
        <pctVal>0.035766727589</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</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>SPDR Gold Shares</name>
        <lei>N/A</lei>
        <title>SPDR GOLD SHARES (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="GLD"/>
        </identifiers>
        <balance>-3340.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-5338.64000000</valUSD>
        <pctVal>-0.00141280584</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SPDR Gold Shares</issuerName>
                <issueTitle>SPDR GOLD SHARES (PUT OPTION)</issueTitle>
                <identifiers>
                  <cusip value="78463V107"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>3340.00000000</shareNo>
            <exercisePrice>134</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-2010.33</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>USD/ZAR (PUT OPTION)</name>
        <lei>N/A</lei>
        <title>USD/ZAR (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTWWE6G2"/>
        </identifiers>
        <balance>-13340.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2876.90000000</valUSD>
        <pctVal>-0.00076133643</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>USD/ZAR (PUT OPTION)</issuerName>
                <issueTitle>USD/ZAR (PUT OPTION)</issueTitle>
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                  <cusip value="000000000"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <principalAmt>100.00000000</principalAmt>
            <curCd>USD</curCd>
            <exercisePrice>14</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-12</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>13535.3</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EURO</name>
        <lei>N/A</lei>
        <title>EURO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="EUR_20191101_DEUTSCHEBANK_425445"/>
        </identifiers>
        <balance>-2350000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <currencyConditional curCd="EUR" exchangeRt="1.00000000"/>
        <valUSD>-89170.30000000</valUSD>
        <pctVal>-0.02359783029</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>DEUTSCHE BANK</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>2656827.75000000</amtCurSold>
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            <amtCurPur>2350000.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2019-11-01</settlementDt>
            <unrealizedAppr>-89170.3</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>U.S. DOLLAR</name>
        <lei>N/A</lei>
        <title>U.S. DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="USD_20191206_DEUTSCHEBANK_431243"/>
        </identifiers>
        <balance>477802500.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>8427.69000000</valUSD>
        <pctVal>0.002230285178</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>DEUTSCHE BANK</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>477802500.00000000</amtCurSold>
            <curSold>CLP</curSold>
            <amtCurPur>665000.00000000</amtCurPur>
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            <settlementDt>2019-12-06</settlementDt>
            <unrealizedAppr>8427.69</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALEXION PHARMACEUTICALS, INC.</name>
        <lei>M1YXUUZR0EIMU8T0EM75</lei>
        <title>ALEXION PHARMACEUTICALS, INC.</title>
        <cusip>015351109</cusip>
        <identifiers>
          <isin value="US0153511094"/>
        </identifiers>
        <balance>25.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2448.50000000</valUSD>
        <pctVal>0.000647965606</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GLOBALWAFERS CO., LTD.</name>
        <lei>529900V6RTNF3U5EGX67</lei>
        <title>GLOBALWAFERS CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0006488000"/>
        </identifiers>
        <balance>1000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.02300000"/>
        <valUSD>10187.28000000</valUSD>
        <pctVal>0.002695939170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO</title>
        <cusip>46647PAY2</cusip>
        <identifiers>
          <isin value="US46647PAY25"/>
        </identifiers>
        <balance>353000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>376419.43000000</valUSD>
        <pctVal>0.099614802574</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.02300000</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>FIELDWOOD ENERGY LLC</name>
        <lei>N/A</lei>
        <title>FIELDWOOD ENERGY LLC</title>
        <cusip>BRTGYWW01</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTGYWW01"/>
        </identifiers>
        <balance>941.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23525.00000000</valUSD>
        <pctVal>0.006225603791</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JAPANESE YEN</name>
        <lei>N/A</lei>
        <title>JAPANESE YEN</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal" value="JPY_20191003_GOLDMANSACHS_415186"/>
        </identifiers>
        <balance>-207050000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <currencyConditional curCd="JPY" exchangeRt="1.00000000"/>
        <valUSD>-8277.80000000</valUSD>
        <pctVal>-0.00219061862</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>1923886.39000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>207050000.00000000</amtCurPur>
            <curPur>JPY</curPur>
            <settlementDt>2019-10-03</settlementDt>
            <unrealizedAppr>-8277.8</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ABBVIE INC.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBVIE INC</title>
        <cusip>00287YAQ2</cusip>
        <identifiers>
          <isin value="US00287YAQ26"/>
        </identifiers>
        <balance>112000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>116339.10000000</valUSD>
        <pctVal>0.030787721234</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.60000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. DOLLAR</name>
        <lei>N/A</lei>
        <title>U.S. DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="USD_20191024_DEUTSCHEBANK_434767"/>
        </identifiers>
        <balance>162785000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>11681.72000000</valUSD>
        <pctVal>0.003091424455</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>DEUTSCHE BANK</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>162785000.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>1520119.16000000</amtCurPur>
            <curPur>USD</curPur>
            <settlementDt>2019-10-24</settlementDt>
            <unrealizedAppr>11681.72</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Repubblica Italiana</name>
        <lei>815600DE60799F5A9309</lei>
        <title>BUONI POLIENNALI DEL TES</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IT0005365165"/>
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        <balance>2563000.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>3366416.15000000</valUSD>
        <pctVal>0.890880898913</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HUMANA INC.</name>
        <lei>529900YLDW34GJAO4J06</lei>
        <title>HUMANA, INC.</title>
        <cusip>444859102</cusip>
        <identifiers>
          <isin value="US4448591028"/>
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        <balance>6.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1534.02000000</valUSD>
        <pctVal>0.000405959648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FORTUNE BRANDS HOME &amp; SECURITY, INC.</name>
        <lei>54930032LHW54PQUJD44</lei>
        <title>FORTUNE BRANDS HOME &amp; SECURITY, INC.</title>
        <cusip>34964C106</cusip>
        <identifiers>
          <isin value="US34964C1062"/>
        </identifiers>
        <balance>1776.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>97147.20000000</valUSD>
        <pctVal>0.025708819411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SPDR S&amp;P 500 ETF Trust</name>
        <lei>N/A</lei>
        <title>SPDR S&amp;P 500 ETF TRUST (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="SPY"/>
        </identifiers>
        <balance>336013.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>19913.15000000</valUSD>
        <pctVal>0.005269771823</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SPDR S&amp;P 500 ETF Trust</issuerName>
                <issueTitle>SPDR S&amp;P 500 ETF TRUST (CALL OPTION)</issueTitle>
                <identifiers>
                  <cusip value="78462F103"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>336013.00000000</shareNo>
            <exercisePrice>325</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-11-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-40569.19</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SWISS FRANC</name>
        <lei>N/A</lei>
        <title>SWISS FRANC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="CHF_20191206_BANKNATIONALPARIS_430824"/>
        </identifiers>
        <balance>-916946.07000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <currencyConditional curCd="CHF" exchangeRt="1.00000000"/>
        <valUSD>-21589.50000000</valUSD>
        <pctVal>-0.00571339736</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BANK NATIONAL PARIS</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>946000.00000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>916946.07000000</amtCurPur>
            <curPur>CHF</curPur>
            <settlementDt>2019-12-06</settlementDt>
            <unrealizedAppr>-21589.5</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EURO</name>
        <lei>N/A</lei>
        <title>EURO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="EUR_20191210_GOLDMANSACHS_432651"/>
        </identifiers>
        <balance>-2394000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <currencyConditional curCd="EUR" exchangeRt="1.00000000"/>
        <valUSD>-21489.55000000</valUSD>
        <pctVal>-0.00568694682</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>2644720.75000000</amtCurSold>
            <curSold>USD</curSold>
            <amtCurPur>2394000.00000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2019-12-10</settlementDt>
            <unrealizedAppr>-21489.55</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ALLY FINANCIAL INC.</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>ALLY FINANCIAL INC</title>
        <cusip>02005N100</cusip>
        <identifiers>
          <isin value="US02005N1000"/>
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        <balance>694.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23013.04000000</valUSD>
        <pctVal>0.006090119833</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nutrien Ltd.</name>
        <lei>5493002QQ7GD21OWF963</lei>
        <title>NUTRIEN LTD</title>
        <cusip>67077M108</cusip>
        <identifiers>
          <isin value="CA67077M1086"/>
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        <balance>143.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32470000"/>
        <valUSD>7124.63000000</valUSD>
        <pctVal>0.001885446271</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SHENZHOU INTERNATIONAL GROUP LTD</name>
        <lei>N/A</lei>
        <title>SHENZHOU INTERNATIONAL GROUP LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG8087W1015"/>
          <other otherDesc="Internal" value="SB0MP1B07"/>
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        <balance>-1000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>-13065.39000000</valUSD>
        <pctVal>-0.00345759581</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>J.P. MORGAN</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SHENZHOU INTERNATIONAL GROUP LTD</issuerName>
                <issueTitle>SHENZHOU INTERNATIONAL GROUP LTD</issueTitle>
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                  <isin value="KYG8087W1015"/>
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            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-11347.59000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-1717.80000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GBP/USD (PUT OPTION)</name>
        <lei>N/A</lei>
        <title>GBP/USD (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTV1HVX6"/>
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        <balance>1358.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81347000"/>
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        <pctVal>0.000745111489</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Option" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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            <principalAmt>100.00000000</principalAmt>
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            <exercisePrice>1</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-10-08</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>539.22</unrealizedAppr>
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      <invstOrSec>
        <name>IHEARTCOMMUNICATIONS, INC.</name>
        <lei>54930076J6KDZL504O62</lei>
        <title>IHEARTCOMMUNICATION INC</title>
        <cusip>45174HBD8</cusip>
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          <isin value="US45174HBD89"/>
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        <balance>79777.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HERO MOTOCORP LIMITED</name>
        <lei>335800Q49FBMZJTRLK49</lei>
        <title>HERO MOTOCORP, LTD.</title>
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          <isin value="INE158A01026"/>
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        <balance>3568.00000000</balance>
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        <currencyConditional curCd="INR" exchangeRt="70.86130000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>MASCO CORPORATION</name>
        <lei>5GCSNMQXHEYA1JO8QN11</lei>
        <title>MASCO CORPORATION</title>
        <cusip>574599106</cusip>
        <identifiers>
          <isin value="US5745991068"/>
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        <balance>4760.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>198396.80000000</valUSD>
        <pctVal>0.052503288853</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>The Siam Cement Public Company Limited</name>
        <lei>N/A</lei>
        <title>SIAM CEMENT PCL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TH0003010Z04"/>
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        <balance>9600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.58000000"/>
        <valUSD>128144.81000000</valUSD>
        <pctVal>0.033911958129</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
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        <title>2YR-10YR CONSTANT MATURITY SWAP CAP</title>
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        <identifiers>
          <other otherDesc="Internal" value="BRTR24S90"/>
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        <balance>30932000.00000000</balance>
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        <descOthUnits>Notional</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>4550.49000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Interest Rate Cap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <othDeriv derivCat="OTH" othDesc="2YR-10YR CONSTANT MATURITY SWAP CAP">
            <counterparties>
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            <descRefInstrmnt>
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                <issuerName>2YR-10YR CONSTANT MATURITY SWAP CAP</issuerName>
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                  <other otherDesc="Internal" value="BRTS3A895"/>
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            </descRefInstrmnt>
            <terminationDt>2020-02-27</terminationDt>
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            <delta>XXXX</delta>
            <unrealizedAppr>-53780.96</unrealizedAppr>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Schlumberger N.V.</name>
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          <isin value="N/A"/>
          <ticker value="SLB"/>
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        <balance>11244.00000000</balance>
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        <invCountry>CW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
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                <issuerName>Schlumberger N.V.</issuerName>
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            <shareNo>11244.00000000</shareNo>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>-42337.94</unrealizedAppr>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Sompo Holdings, Inc.</name>
        <lei>353800CWW4SRGEYEB512</lei>
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          <isin value="JP3165000005"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912796RT85"/>
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        <balance>1340000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-01-02</maturityDt>
          <couponKind>None</couponKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>CONTINENTAL AG</name>
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          <isin value="DE0005439004"/>
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        <assetCat>DE</assetCat>
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        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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              <counterpartyName>CITIGROUP GLOBAL MARKETS LIMITED</counterpartyName>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>CONTINENTAL AG</issuerName>
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              <notionalAmt amt="-28451.24000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>1514.67000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY</title>
        <cusip>61746BDQ6</cusip>
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          <isin value="US61746BDQ68"/>
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        <balance>360000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>381847.32000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTHERN COPPER CORPORATION</name>
        <lei>2549007U6NAP46Q9TU15</lei>
        <title>SOUTHERN COPPER CORP</title>
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          <isin value="US84265V1052"/>
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        <balance>105.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3583.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>SOFTBANK GROUP CORP</name>
        <lei>N/A</lei>
        <title>SOFTBANK GROUP CORP</title>
        <cusip>N/A</cusip>
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          <isin value="JP3436100006"/>
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        <balance>-100.00000000</balance>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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              <counterpartyName>J.P. MORGAN</counterpartyName>
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                <issuerName>SOFTBANK GROUP CORP</issuerName>
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              <notionalAmt amt="-4078.45000000" curCd="USD"/>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>Kamigumi Co.,Ltd.</name>
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        <title>KAMIGUMI CO., LTD LTD</title>
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          <isin value="JP3219000001"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Enbridge Inc.</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>ENBRIDGE INC.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>VERIZON COMMUNICATIONS INC.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMUNICATIONS</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CERNER CORPORATION</name>
        <lei>549300L4UJ40IEVVI304</lei>
        <title>CERNER CORP.</title>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>THE WILLIAMS COMPANIES, INC.</name>
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        <title>WILLIAMS COMPANIES INC</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Shanxi Lu'an Environmental Energy Dev. Co., Ltd</name>
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        <name>DASSAULT SYSTEMES SE</name>
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        <name>Repsol S.A.</name>
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        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Muenchener Rueckversicherungs-Gesellschaft Aktiengesellschaft in Muenchen</name>
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        <title>MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG</title>
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        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>LINE CORP</name>
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        <title>LINE CORP</title>
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        <balance>-600.00000000</balance>
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        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <counterparties>
              <counterpartyName>CITIGROUP</counterpartyName>
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        <name>United States of America</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AMGEN INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Wuxi Biologics Cayman Inc</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Altria Group, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>METLIFE, INC.</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JARDINE MATHESON HOLDINGS LIMITED</name>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MBANK SA</name>
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        <balance>-6.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <terminationDt>2039-12-31</terminationDt>
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            <delta>XXXX</delta>
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        <name>FAIRFAX FINANCIAL HOLDINGS LIMITED</name>
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        <title>FAIRFAX FINANCIAL HOLDINGS, LTD.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INTUITIVE SURGICAL, INC.</name>
        <lei>54930052SRG011710797</lei>
        <title>INTUITIVE SURGICAL, INC.</title>
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          <isin value="US46120E6023"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MACY'S, INC.</name>
        <lei>529900NZQ81TIOW3CW52</lei>
        <title>MACY'S, INC.</title>
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        <balance>7806.00000000</balance>
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        <invCountry>US</invCountry>

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        <fairValLevel>1</fairValLevel>
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        <name>SPDR Gold Shares</name>
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          <isin value="N/A"/>
          <ticker value="GLD"/>
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        <balance>-67.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-368.50000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>SPDR Gold Shares</name>
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        <isRestrictedSec>N</isRestrictedSec>

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            <unrealizedAppr>-7168.77</unrealizedAppr>
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      <invstOrSec>
        <name>INTUIT INC.</name>
        <lei>VI90HBPH7XSFMB9E4M29</lei>
        <title>INTUIT, INC.</title>
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        <name>KERING S.A.</name>
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        <name>CARDINAL HEALTH, INC.</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>FEDEX CORPORATION</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FEDEX CORP (CALL OPTION)</title>
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          <isin value="N/A"/>
          <ticker value="FDX"/>
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        <balance>2567.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
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            <delta>XXXX</delta>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
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      </invstOrSec>
      <invstOrSec>
        <name>SONY FINANCIAL HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>SONY FINANCIAL HOLDINGS INC</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CATHAY FINANCIAL HOLDING CO., LTD.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>TV Asahi Holdings Corporation</name>
        <lei>N/A</lei>
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          <isin value="JP3429000007"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>UNITEDHEALTH GROUP INCORPORATED</name>
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        <name>PRUDENTIAL FINANCIAL, INC.</name>
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          <isin value="US744320AL68"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>United States of America</name>
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        <name>Chubb Limited</name>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>STRYKER CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>United States of America</name>
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      <invstOrSec>
        <name>THE TJX COMPANIES, INC.</name>
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        <name>VEDANTA LIMITED</name>
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        <name>JAPAN POST HOLDINGS Co.,Ltd.</name>
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            <expDt>2019-10-09</expDt>
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            <unrealizedAppr>6983.06</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ACCENTURE PUBLIC LIMITED COMPANY</name>
        <lei>N/A</lei>
        <title>ACCENTURE PLC</title>
        <cusip>G1151C101</cusip>
        <identifiers>
          <isin value="IE00B4BNMY34"/>
        </identifiers>
        <balance>1920.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>369312.00000000</valUSD>
        <pctVal>0.097733908073</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vonovia SE</name>
        <lei>5299005A2ZEP6AP7KM81</lei>
        <title>VONOVIA SE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000A1ML7J1"/>
        </identifiers>
        <balance>3152.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>159871.58000000</valUSD>
        <pctVal>0.042308060131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HOTAI MOTOR LTD</name>
        <lei>N/A</lei>
        <title>HOTAI MOTOR LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0002207008"/>
          <other otherDesc="Internal" value="CFC641716"/>
        </identifiers>
        <balance>-1000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="TWD" exchangeRt="31.02300000"/>
        <valUSD>-15198.40000000</valUSD>
        <pctVal>-0.00402207084</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>HOTAI MOTOR LTD</issuerName>
                <issueTitle>HOTAI MOTOR LTD</issueTitle>
                <identifiers>
                  <isin value="TW0002207008"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-8243.60000000" curCd="USD"/>
            </notionalAmts>
            <delta>XXXX</delta>
            <unrealizedAppr>-6954.80000000</unrealizedAppr>
          </othDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NTT DATA CORPORATION</name>
        <lei>353800SZGJGSLJRRWB43</lei>
        <title>NTT DATA CORP.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3165700000"/>
        </identifiers>
        <balance>200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>2594.59000000</valUSD>
        <pctVal>0.000686626539</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>APPLE INC.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE INC (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="AAPL"/>
        </identifiers>
        <balance>-11.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3932.50000000</valUSD>
        <pctVal>-0.00104068807</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>APPLE INC.</issuerName>
                <issueTitle>APPLE INC (PUT OPTION)</issueTitle>
                <identifiers>
                  <cusip value="037833100"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>11.00000000</shareNo>
            <exercisePrice>200</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>827.78</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nippon Television Holdings, Inc.</name>
        <lei>N/A</lei>
        <title>NIPPON TELEVISION HOLDINGS INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3732200005"/>
        </identifiers>
        <balance>5600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>72148.40000000</valUSD>
        <pctVal>0.019093192458</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AUTOZONE, INC.</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
        <title>AUTOZONE, INC.</title>
        <cusip>053332102</cusip>
        <identifiers>
          <isin value="US0533321024"/>
        </identifiers>
        <balance>32.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34707.84000000</valUSD>
        <pctVal>0.009185005751</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Carnival Corporation</name>
        <lei>F1OF2ZSX47CR0BCWA982</lei>
        <title>CARNIVAL CORPORATION</title>
        <cusip>143658300</cusip>
        <identifiers>
          <isin value="PA1436583006"/>
        </identifiers>
        <balance>222.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9703.62000000</valUSD>
        <pctVal>0.002567944461</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BASF N</name>
        <lei>N/A</lei>
        <title>BASF N</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000BASF111"/>
          <other otherDesc="Internal" value="CFJ508657"/>
        </identifiers>
        <balance>-341.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>-23828.39000000</valUSD>
        <pctVal>-0.00630589224</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>JP MORGAN SECURITIES PLC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>BASF N</issuerName>
                <issueTitle>BASF N</issueTitle>
                <identifiers>
                  <isin value="DE000BASF111"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
            <notionalAmts>
              <notionalAmt amt="-22262.18000000" curCd="USD"/>
            </notionalAmts>
            <delta>XXXX</delta>
            <unrealizedAppr>-1566.21000000</unrealizedAppr>
          </othDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VERISIGN, INC.</name>
        <lei>LMPL4N8ZOJRMF0KOF759</lei>
        <title>VERISIGN, INC.</title>
        <cusip>92343E102</cusip>
        <identifiers>
          <isin value="US92343E1029"/>
        </identifiers>
        <balance>287.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>54136.81000000</valUSD>
        <pctVal>0.014326645253</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KINDER MORGAN ENERGY PARTNERS, L.P.</name>
        <lei>549300PDHUGWPWGOT525</lei>
        <title>KINDER MORGAN ENERGY PARTNERS LP</title>
        <cusip>494550BS4</cusip>
        <identifiers>
          <isin value="US494550BS48"/>
        </identifiers>
        <balance>69000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>73245.71000000</valUSD>
        <pctVal>0.019383582141</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</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>EXELON CORPORATION</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>EXELON CORP.</title>
        <cusip>30161N101</cusip>
        <identifiers>
          <isin value="US30161N1019"/>
        </identifiers>
        <balance>4396.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>212370.76000000</valUSD>
        <pctVal>0.056201326616</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COLGATE-PALMOLIVE COMPANY</name>
        <lei>YMEGZFW4SBUSS5BQXF88</lei>
        <title>COLGATE-PALMOLIVE CO.</title>
        <cusip>194162103</cusip>
        <identifiers>
          <isin value="US1941621039"/>
        </identifiers>
        <balance>27758.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2040490.58000000</valUSD>
        <pctVal>0.539990898670</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BP P.L.C.</name>
        <lei>213800LH1BZH3DI6G760</lei>
        <title>BP PLC (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="BP"/>
        </identifiers>
        <balance>-33538.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-34741.23000000</valUSD>
        <pctVal>-0.00919384200</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>BP P.L.C.</issuerName>
                <issueTitle>BP PLC (PUT OPTION)</issueTitle>
                <identifiers>
                  <cusip value="055622104"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>33538.00000000</shareNo>
            <exercisePrice>36</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>3492.09</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MABUCHI MOTOR CO., LTD.</name>
        <lei>N/A</lei>
        <title>MABUCHI MOTOR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3870000001"/>
        </identifiers>
        <balance>3000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>112660.05000000</valUSD>
        <pctVal>0.029814105607</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEINO HOLDINGS CO., LTD.</name>
        <lei>3538001D12EPCPYTTF24</lei>
        <title>SEINO HOLDINGS CO. LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3415400005"/>
        </identifiers>
        <balance>4700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>58826.54000000</valUSD>
        <pctVal>0.015567724993</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Yifeng Pharmacy Chain Co Ltd</name>
        <lei>N/A</lei>
        <title>YIFENG PHARMACY CHAIN CO. L-A</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100001TS5"/>
        </identifiers>
        <balance>5300.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.13840000"/>
        <valUSD>58653.33000000</valUSD>
        <pctVal>0.015521887083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LIMITED</name>
        <lei>5299005WPCSQN14NBM26</lei>
        <title>BRILLIANCE CHINA AUTOMOTIVE HOLDINGS LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG1368B1028"/>
        </identifiers>
        <balance>70000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>75699.42000000</valUSD>
        <pctVal>0.020032926510</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MARSH &amp; MCLENNAN COMPANIES, INC.</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>MARSH &amp; MCLENNAN COS., INC.</title>
        <cusip>571748102</cusip>
        <identifiers>
          <isin value="US5717481023"/>
        </identifiers>
        <balance>23896.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2390794.80000000</valUSD>
        <pctVal>0.632694630027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF AMERICA CORPORATION</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP</title>
        <cusip>06051GFB0</cusip>
        <identifiers>
          <isin value="US06051GFB05"/>
        </identifiers>
        <balance>586000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>5Y RTP 1.655% 11/6/19</name>
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          <other otherDesc="Internal" value="BRTVV0HF5"/>
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        <descOthUnits>Notional</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-9632.99000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="IRS SWAPTION" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>CITIBANK NA</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                      <other otherDesc="Internal" value="BRTVV0HFS"/>
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                    <balance>N/A</balance>
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                    <curCd>USD</curCd>
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                    <pctVal>N/A</pctVal>
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                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
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                  <descRefInstrmnt>
                    <indexBasketInfo>
                      <indexName>US DOLLAR 3 MO LIBOR - BBA 11AM</indexName>
                      <indexIdentifier>3M LIBOR</indexIdentifier>
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                  <fixedPmntDesc amount="0.00" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.655"/>
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                  <rcptCurCd>USD</rcptCurCd>
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                  <curCd>USD</curCd>
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            <shareNo>-546.05090000</shareNo>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>7840.64</unrealizedAppr>
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      </invstOrSec>
      <invstOrSec>
        <name>Ajinomoto Co., Inc.</name>
        <lei>353800UT0TLROREPIC92</lei>
        <title>AJINOMOTO CO., INC.</title>
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          <isin value="JP3119600009"/>
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        <balance>75600.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>SUZANO SA</name>
        <lei>N/A</lei>
        <title>SUZANO SA</title>
        <cusip>N/A</cusip>
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          <isin value="BRSUZBACNOR0"/>
          <other otherDesc="Internal" value="BRSG5YP32"/>
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        <balance>-5526.00000000</balance>
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        <currencyConditional curCd="BRL" exchangeRt="4.15460000"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>JP MORGAN SECURITIES PLC</counterpartyName>
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            <descRefInstrmnt>
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                <issuerName>SUZANO SA</issuerName>
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            <delta>XXXX</delta>
            <unrealizedAppr>-168.49000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
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        <lei>N/A</lei>
        <title>U.S. DOLLAR</title>
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          <other otherDesc="Internal" value="USD_20191218_GOLDMANSACHS_436794"/>
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        <balance>27645310.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>27645310.00000000</amtCurSold>
            <curSold>JPY</curSold>
            <amtCurPur>257000.00000000</amtCurPur>
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            <settlementDt>2019-12-18</settlementDt>
            <unrealizedAppr>-273.25</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FORD MOTOR COMPANY</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>FORD MOTOR CO.</title>
        <cusip>345370860</cusip>
        <identifiers>
          <isin value="US3453708600"/>
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        <balance>2115.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19373.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JAPANESE YEN</name>
        <lei>N/A</lei>
        <title>JAPANESE YEN</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="JPY_20191210_MORGANSTANLEY_433424"/>
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        <balance>-179954307.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <currencyConditional curCd="JPY" exchangeRt="1.00000000"/>
        <valUSD>-29770.82000000</valUSD>
        <pctVal>-0.00787848373</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>MORGAN STANLEY</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>1703000.00000000</amtCurSold>
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            <amtCurPur>179954307.00000000</amtCurPur>
            <curPur>JPY</curPur>
            <settlementDt>2019-12-10</settlementDt>
            <unrealizedAppr>-29770.82</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Commonwealth of Australia</name>
        <lei>213800J6B7JSBDETCB42</lei>
        <title>AUSTRALIAN GOVERNMENT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000XCLWAS7"/>
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        <balance>1093000.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.48192000"/>
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        <pctVal>0.254338239722</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-03-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Jeronimo Martins, SGPS, S.A.</name>
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          <isin value="PTJMT0AE0001"/>
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        <balance>7330.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEWCREST MINING LIMITED</name>
        <lei>5299006MN50OZJUJI655</lei>
        <title>NEWCREST MINING LTD.</title>
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          <isin value="AU000000NCM7"/>
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        <balance>22292.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.48192000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>CITIGROUP INC.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC.</title>
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          <isin value="US172967JK88"/>
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        <balance>595000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>600950.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-29</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UBER TECHNOLOGIES, INC.</name>
        <lei>549300B2FTG34FILDR98</lei>
        <title>UBER TECHNOLOGIES INC</title>
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          <isin value="US90353T1007"/>
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        <balance>483.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>N/A</lei>
        <title>2-YEAR US TREASURY NOTE FUTURE DEC19</title>
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          <isin value="US9128285A44"/>
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        <balance>214.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>65650.83000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="Treasury Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>XCBT</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <issuerName>United States of America</issuerName>
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                  <ticker value="TUZ9"/>
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            <expDate>2019-12-31</expDate>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BRITISH POUND</name>
        <lei>N/A</lei>
        <title>BRITISH POUND</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="GBP_20191122_JPMORGANCHASE_427386"/>
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        <balance>-1367000.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="1.00000000"/>
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        <pctVal>0.007192272676</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>JP MORGAN CHASE</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>1656770.10000000</amtCurSold>
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            <amtCurPur>1367000.00000000</amtCurPur>
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            <settlementDt>2019-11-22</settlementDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GLAXOSMITHKLINE PLC</name>
        <lei>5493000HZTVUYLO1D793</lei>
        <title>GLAXOSMITHKLINE PLC</title>
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        <identifiers>
          <isin value="GB0009252882"/>
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        <balance>361.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.81347000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>INTEL CORPORATION</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>INTEL CORP.</title>
        <cusip>458140100</cusip>
        <identifiers>
          <isin value="US4581401001"/>
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        <balance>1791.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>92290.23000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Kyowa Kirin Co., Ltd.</name>
        <lei>529900TBXKVTQGYA3582</lei>
        <title>KYOWA KIRIN CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3256000005"/>
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        <balance>300.00000000</balance>
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        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ALPHABET INC.</name>
        <lei>5493006MHB84DD0ZWV18</lei>
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          <isin value="US02079K3059"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>S&amp;P 500 INDEX (CALL OPTION)</name>
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          <isin value="N/A"/>
          <ticker value="SPX"/>
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        <balance>803.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5950.06000000</valUSD>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                <indexName>S&amp;P 500 INDEX (CALL OPTION)</indexName>
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            <shareNo>803.00000000</shareNo>
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      <invstOrSec>
        <name>BRISTOL-MYERS SQUIBB COMPANY</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>BRISTOL-MYERS SQUIBB CO.</title>
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          <isin value="US1101221083"/>
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        <balance>1074.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>LOTTE SHOPPING LTD</name>
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          <isin value="KR7023530009"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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              <counterpartyName>J.P. MORGAN</counterpartyName>
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            <delta>XXXX</delta>
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      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co., Ltd.</name>
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          <ticker value="TSM"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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            <shareNo>19482.00000000</shareNo>
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      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group, Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
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          <isin value="US949746SK86"/>
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        <balance>53000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GS Yuasa Corporation</name>
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        <title>GS YUASA CORP.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CVS HEALTH CORPORATION</name>
        <lei>549300EJG376EN5NQE29</lei>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Pepsico, Inc.</name>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <name>NXP Semiconductors N.V.</name>
        <lei>724500M9BY5293JDF951</lei>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>VIVENDI S.A.</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>USD/MXN (CALL OPTION)</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>DELL TECHNOLOGIES INC.</name>
        <lei>549300TJB5YBRUPOG437</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>TOPIX BANK INDEX (PUT OPTION)</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>NINE DRAGONS PAPER HOLDINGS LTD</name>
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        <isRestrictedSec>N</isRestrictedSec>

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                <issuerName>NINE DRAGONS PAPER HOLDINGS LTD</issuerName>
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      <invstOrSec>
        <name>THE BERKELEY GROUP HOLDINGS PLC</name>
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        <title>BERKELEY GROUP HOLDINGS PLC</title>
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          <isin value="GB00B02L3W35"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MONSTER BEVERAGE CORPORATION</name>
        <lei>52990090AP0E7HCB6F33</lei>
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          <isin value="US61174X1090"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>IHEARTCOMMUNICATIONS, INC.</name>
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          <isin value="US45174HBC07"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALIBABA GROUP HOLDING LTD (CALL OPTION)</name>
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          <ticker value="BABA"/>
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        <assetCat>DE</assetCat>
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        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                <issuerName>ALIBABA GROUP HOLDING LTD (CALL OPTION)</issuerName>
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            <shareNo>2397.00000000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>2683.47</unrealizedAppr>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>TREASURY INFLATION INDEX</title>
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          <isin value="US9128284H06"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FOX CORP CLASS B</name>
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        <cusip>N/A</cusip>
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          <isin value="US35137L2043"/>
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        <balance>-13.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-410.02000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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              <counterpartyName>JP MORGAN SECURITIES PLC</counterpartyName>
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                <issuerName>FOX CORP CLASS B</issuerName>
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              <notionalAmt amt="-408.51000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-1.51000000</unrealizedAppr>
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      <invstOrSec>
        <name>ROLLS-ROYCE HOLDINGS PLC</name>
        <lei>213800EC7997ZBLZJH69</lei>
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        <balance>3587.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sun Art Retail Group Ltd.</name>
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        <title>SUN ART RETAIL GROUP LTD.</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>CHINA RESOURCES PHARMACEUTICAL GROUP LIMITED</name>
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        <title>CHINA RESOURCES PHARMACEUTICAL</title>
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        <balance>5500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ENGIE BRASIL ENERGIA S.A.</name>
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        <balance>617.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Repubblica Italiana</name>
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        <balance>1176000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MICROSOFT CORPORATION</name>
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          <ticker value="MSFT"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <shareNo>7.00000000</shareNo>
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        <name>YPF SOCIEDAD ANONIMA</name>
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        <title>YPF SOCIEDAD ANONIMA</title>
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        <name>HINDUSTAN PETROLEUM CORPORATION LIMITED</name>
        <lei>335800DWLXIP7HFFY564</lei>
        <title>HINDUSTAN PETROLEUM CORP. LTD.</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Chunghwa Telecom Co., Ltd.</name>
        <lei>N/A</lei>
        <title>CHUNGHWA TELECOM CO LTD</title>
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        <name>EXXON MOBIL CORPORATION</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>CISCO SYSTEMS, INC.</name>
        <lei>8E6NF1YAL0WT6CWXXV93</lei>
        <title>CISCO SYSTEMS, INC.</title>
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        <name>PAYPAL HOLDINGS, INC.</name>
        <lei>5493005X2GO78EFZ3E94</lei>
        <title>PAYPAL HOLDINGS INC</title>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ANHUI CONCH CEMENT COMPANY LIMITED</name>
        <lei>529900HS6X8TTV0FHV63</lei>
        <title>ANHUI CONCH CEMENT CO LTD</title>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Tsingtao Brewery Company Limited</name>
        <lei>5299001HPFTEVOPKOQ55</lei>
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          <isin value="CNE0000009Y3"/>
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        <balance>1300.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rogers Communications Inc.</name>
        <lei>54930030NVF3Y2OL0A78</lei>
        <title>ROGERS COMMUNICATIONS INC</title>
        <cusip>775109200</cusip>
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          <isin value="CA7751092007"/>
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        <balance>269.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32470000"/>
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        <pctVal>0.003467752611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co., Ltd.</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>TAIWAN SEMICONDUCTOR-SP ADR (PUT OPTION)</title>
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        <identifiers>
          <isin value="N/A"/>
          <ticker value="TSM"/>
        </identifiers>
        <balance>-9741.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-6176.81000000</valUSD>
        <pctVal>-0.00163461729</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Taiwan Semiconductor Manufacturing Co., Ltd.</issuerName>
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                  <cusip value="874039100"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>9741.00000000</shareNo>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>6778.72</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wheaton Precious Metals Corp.</name>
        <lei>549300XSFG5ZCGVYD886</lei>
        <title>WHEATON PRECIOUS METALS CORP</title>
        <cusip>962879102</cusip>
        <identifiers>
          <isin value="CA9628791027"/>
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        <balance>18444.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.32470000"/>
        <valUSD>483690.31000000</valUSD>
        <pctVal>0.128002730193</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA STATE CONSTRUCTION INTERNATI</name>
        <lei>N/A</lei>
        <title>CHINA STATE CONSTRUCTION INTERNATI</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KYG216771363"/>
          <other otherDesc="Internal" value="SB0BM5T89"/>
        </identifiers>
        <balance>-46000.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>-43256.12000000</valUSD>
        <pctVal>-0.01144720359</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>J.P. MORGAN SECURITIES LLC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>CHINA STATE CONSTRUCTION INTERNATI</issuerName>
                <issueTitle>CHINA STATE CONSTRUCTION INTERNATI</issueTitle>
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                  <isin value="KYG216771363"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-46113.92000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>2857.80000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Xcel Energy Inc.</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>XCEL ENERGY, INC</title>
        <cusip>98389B100</cusip>
        <identifiers>
          <isin value="US98389B1008"/>
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        <balance>358.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23230.62000000</valUSD>
        <pctVal>0.006147699721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Notre Dame Intermedica Participacoes S.A.</name>
        <lei>N/A</lei>
        <title>NOTRE DAME INTERMEDICA PART</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BRGNDIACNOR2"/>
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        <balance>57652.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="BRL" exchangeRt="4.15460000"/>
        <valUSD>752809.18000000</valUSD>
        <pctVal>0.199221750700</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="JPM"/>
        </identifiers>
        <balance>-27.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3550.50000000</valUSD>
        <pctVal>-0.00093959644</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>JPMORGAN CHASE &amp; CO.</issuerName>
                <issueTitle>JPMORGAN CHASE &amp; CO (PUT OPTION)</issueTitle>
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                  <cusip value="46625H100"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>27.00000000</shareNo>
            <exercisePrice>105</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>116.5</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EURO STOXX 50 PRICE INDEX (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>EURO STOXX 50 PRICE INDEX (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SX5E"/>
          <other otherDesc="Internal" value="BRTUXE1P0"/>
        </identifiers>
        <balance>238.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>3993.81000000</valUSD>
        <pctVal>0.001056913015</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>EURO STOXX 50 PRICE INDEX (CALL OPTION)</indexName>
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            <shareNo>238.00000000</shareNo>
            <exercisePrice>3900</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-03-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-980.41</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EURO</name>
        <lei>N/A</lei>
        <title>EURO</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="EUR_20191101_BOAMERRILLLYNCH_429679"/>
        </identifiers>
        <balance>-836238.33000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <currencyConditional curCd="EUR" exchangeRt="1.00000000"/>
        <valUSD>-19874.71000000</valUSD>
        <pctVal>-0.00525959914</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BOA MERRILL LYNCH</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>933565.60000000</amtCurSold>
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            <amtCurPur>836238.33000000</amtCurPur>
            <curPur>EUR</curPur>
            <settlementDt>2019-11-01</settlementDt>
            <unrealizedAppr>-19874.71</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>2YR-10YR CONSTANT MATURITY SWAP CAP</name>
        <lei>N/A</lei>
        <title>2YR-10YR CONSTANT MATURITY SWAP CAP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTS3A895"/>
        </identifiers>
        <balance>31341000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Notional</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>26138.59000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="Interest Rate Cap" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="2YR-10YR CONSTANT MATURITY SWAP CAP">
            <counterparties>
              <counterpartyName>GOLDMAN SACHS</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>2YR-10YR CONSTANT MATURITY SWAP CAP</issuerName>
                <issueTitle>2YR-10YR CONSTANT MATURITY SWAP CAP</issueTitle>
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                  <other otherDesc="Internal" value="BRTR24S90"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <terminationDt>2020-02-27</terminationDt>
            <notionalAmts>
              <notionalAmt amt="40211.60" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-35661.11</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>APPLE INC.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>APPLE, INC.</title>
        <cusip>037833100</cusip>
        <identifiers>
          <isin value="US0378331005"/>
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        <balance>27462.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6150664.14000000</valUSD>
        <pctVal>1.627698107960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AIR PRODUCTS AND CHEMICALS, INC.</name>
        <lei>7QEON6Y1RL5XR3R1W237</lei>
        <title>AIR PRODUCTS &amp; CHEMICALS</title>
        <cusip>009158106</cusip>
        <identifiers>
          <isin value="US0091581068"/>
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        <balance>11679.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2591102.94000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PT Bank Central Asia Tbk</name>
        <lei>254900BR956G2OHVOM21</lei>
        <title>BANK CENTRAL ASIA PT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ID1000109507"/>
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        <balance>76000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="IDR" exchangeRt="14190.00000000"/>
        <valUSD>162618.06000000</valUSD>
        <pctVal>0.043034882503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>JPMORGAN CHASE &amp; CO (CALL OPTION)</title>
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        <identifiers>
          <ticker value="JPM"/>
          <other otherDesc="Internal" value="BRTMT0TD0"/>
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        <balance>4968.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>33820.32000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>JPMORGAN CHASE &amp; CO (CALL OPTION)</issuerName>
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            <shareNo>4968.00000000</shareNo>
            <exercisePrice>115</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>-6911.82</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BP P.L.C.</name>
        <lei>213800LH1BZH3DI6G760</lei>
        <title>BP PLC (CALL OPTION)</title>
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        <identifiers>
          <isin value="N/A"/>
          <ticker value="BP"/>
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        <balance>33538.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <pctVal>0.000689889523</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>BP P.L.C.</issuerName>
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        <name>BERKSHIRE HATHAWAY INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SUZUKI MOTOR CORPORATION</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Novartis AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>A.P. MOELLER - MAERSK A/S</name>
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        <name>SUNTRUST BANKS, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>INTERNATIONAL BUSINESS MACHINES CORPORATION</name>
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        <title>IBM CORP</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MAKITA CORP</name>
        <lei>N/A</lei>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>EATON CORPORATION PUBLIC LIMITED COMPANY</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>U.S. DOLLAR</name>
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          <other otherDesc="Internal" value="USD_20191031_CITIGROUP_421107"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
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      <invstOrSec>
        <name>Wirecard AG</name>
        <lei>529900A8LX4KL0YUTH71</lei>
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          <isin value="DE0007472060"/>
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        <balance>47.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>KYUDENKO CORPORATION</name>
        <lei>N/A</lei>
        <title>KYUDENKO CORP</title>
        <cusip>N/A</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>KEYENCE CORPORATION</name>
        <lei>529900M7PQBS7A89DZ11</lei>
        <title>KEYENCE CORP.</title>
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        <name>HYUNDAI STEEL</name>
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        <name>INTELSAT JACKSON HOLDINGS S.A.</name>
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        <name>TOKYO STOCK EXCHANGE TOPIX (PUT OPTION)</name>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>CITIGROUP GLOBAL MARKETS LIMITED</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>FERROVIAL SA</issuerName>
                <issueTitle>FERROVIAL SA</issueTitle>
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                  <isin value="ES0118900010"/>
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            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-5490.41000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-316.59000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SUN HUNG KAI PROPERTIES LIMITED</name>
        <lei>529900LUMD393RD3S874</lei>
        <title>SUN HUNG KAI PROPERTIES LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0016000132"/>
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        <balance>117166.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>1693912.11000000</valUSD>
        <pctVal>0.448273141524</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO BANK, NATIONAL ASSOCIATION</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
        <title>WELLS FARGO BANK NA</title>
        <cusip>94988J5R4</cusip>
        <identifiers>
          <isin value="US94988J5R41"/>
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        <balance>370000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>388364.95000000</valUSD>
        <pctVal>0.102776038477</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HYSAN DEVELOPMENT COMPANY LIMITED</name>
        <lei>5299007BABFLKIH9HL03</lei>
        <title>HYSAN DEVELOPMENT CO.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0014000126"/>
        </identifiers>
        <balance>14000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>56642.89000000</valUSD>
        <pctVal>0.014989848703</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FEDEX CORP (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>FEDEX CORP (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FDX"/>
          <other otherDesc="Internal" value="BRTU1XFF0"/>
        </identifiers>
        <balance>5587.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>18809.30000000</valUSD>
        <pctVal>0.004977651408</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>FEDEX CORP (CALL OPTION)</issuerName>
                <issueTitle>FEDEX CORP (CALL OPTION)</issueTitle>
                <identifiers>
                  <cusip value="31428X106"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>5587.00000000</shareNo>
            <exercisePrice>162</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-57910.78</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KIA MOTORS CORPORATION</name>
        <lei>988400V8MJK9N7OI5X76</lei>
        <title>KIA MOTORS CORP .</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="KR7000270009"/>
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        <balance>94.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1196.00000000"/>
        <valUSD>3594.36000000</valUSD>
        <pctVal>0.000951203453</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIC Limited</name>
        <lei>2549006I3Q3M98KHOT11</lei>
        <title>CITIC LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="HK0267001375"/>
        </identifiers>
        <balance>8000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>10070.50000000</valUSD>
        <pctVal>0.002665034770</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DISCOVERY LIMITED</name>
        <lei>378900245A26169C8132</lei>
        <title>DISCOVERY LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ZAE000022331"/>
        </identifiers>
        <balance>119.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="ZAR" exchangeRt="15.13750000"/>
        <valUSD>897.68000000</valUSD>
        <pctVal>0.000237560042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ZA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="879.63"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ALIBABA GROUP HOLDING-SP (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>ALIBABA GROUP HOLDING-SP (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BABA"/>
          <other otherDesc="Internal" value="BRTUB3293"/>
        </identifiers>
        <balance>-2785.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3153.77000000</valUSD>
        <pctVal>-0.00083460669</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>ALIBABA GROUP HOLDING-SP (CALL OPTION)</issuerName>
                <issueTitle>ALIBABA GROUP HOLDING-SP (CALL OPTION)</issueTitle>
                <identifiers>
                  <cusip value="01609W102"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>2785.00000000</shareNo>
            <exercisePrice>195</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-11-22</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>6993.38</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TAIWAN MOBILE CO., LTD.</name>
        <lei>N/A</lei>
        <title>TAIWAN MOBILE CO., LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0003045001"/>
        </identifiers>
        <balance>101000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.02300000"/>
        <valUSD>364426.67000000</valUSD>
        <pctVal>0.096441065183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMAZON.COM, INC.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
        <title>AMAZON.COM INC (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="AMZN"/>
        </identifiers>
        <balance>-2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-9085.00000000</valUSD>
        <pctVal>-0.00240423423</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>AMAZON.COM, INC.</issuerName>
                <issueTitle>AMAZON.COM INC (PUT OPTION)</issueTitle>
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                  <cusip value="023135106"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>2.00000000</shareNo>
            <exercisePrice>1630</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-2693.7</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; COMPANY</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; COMPANY</title>
        <cusip>95000U2C6</cusip>
        <identifiers>
          <isin value="US95000U2C66"/>
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        <balance>170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179466.79000000</valUSD>
        <pctVal>0.047493693018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE AES CORPORATION</name>
        <lei>2NUNNB7D43COUIRE5295</lei>
        <title>AES CORP.</title>
        <cusip>00130H105</cusip>
        <identifiers>
          <isin value="US00130H1059"/>
        </identifiers>
        <balance>1736.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28366.24000000</valUSD>
        <pctVal>0.007506778800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Aier Eye Hospital Group Co., Ltd.</name>
        <lei>N/A</lei>
        <title>AIER EYE HOSPITAL GROUP CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE100000GR6"/>
        </identifiers>
        <balance>11899.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.13840000"/>
        <valUSD>59304.27000000</valUSD>
        <pctVal>0.015694150399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INCYTE CORPORATION</name>
        <lei>549300Z4WN6JVZ3T4680</lei>
        <title>INCYTE CORPORATION</title>
        <cusip>45337C102</cusip>
        <identifiers>
          <isin value="US45337C1027"/>
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        <balance>50.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3711.50000000</valUSD>
        <pctVal>0.000982203123</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Advanced Info Service Public Company Limited</name>
        <lei>N/A</lei>
        <title>ADVANCED INFORMATION SERVICE</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TH0268010Z03"/>
        </identifiers>
        <balance>25000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="THB" exchangeRt="30.58000000"/>
        <valUSD>179965.29000000</valUSD>
        <pctVal>0.047625614952</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AGILENT TECHNOLOGIES INC (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>AGILENT TECHNOLOGIES INC (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="A"/>
          <other otherDesc="Internal" value="BRTTPWD95"/>
        </identifiers>
        <balance>5449.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>43428.67000000</valUSD>
        <pctVal>0.011492866848</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>AGILENT TECHNOLOGIES INC (CALL OPTION)</issuerName>
                <issueTitle>AGILENT TECHNOLOGIES INC (CALL OPTION)</issueTitle>
                <identifiers>
                  <cusip value="00846U101"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>5449.00000000</shareNo>
            <exercisePrice>71</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-01-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>16282.3</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JOHNSON &amp; JOHNSON</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>JOHNSON &amp; JOHNSON (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="JNJ"/>
        </identifiers>
        <balance>5018.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>770.87000000</valUSD>
        <pctVal>0.000204001326</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>JOHNSON &amp; JOHNSON</issuerName>
                <issueTitle>JOHNSON &amp; JOHNSON (CALL OPTION)</issueTitle>
                <identifiers>
                  <cusip value="478160104"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>5018.00000000</shareNo>
            <exercisePrice>155</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <unrealizedAppr>-18749.15</unrealizedAppr>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CVS HEALTH CORP (CALL OPTION)</name>
        <lei>N/A</lei>
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        <identifiers>
          <ticker value="CVS"/>
          <other otherDesc="Internal" value="BRTMLMA99"/>
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        <balance>4950.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <pctVal>0.000225047968</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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              <otherRefInst>
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            </descRefInstrmnt>
            <shareNo>4950.00000000</shareNo>
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            <exercisePriceCurCd>USD</exercisePriceCurCd>
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            <delta>XXXX</delta>
            <unrealizedAppr>-25980.58</unrealizedAppr>
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      <invstOrSec>
        <name>VMWARE, INC.</name>
        <lei>549300BUDHS3LRWBE814</lei>
        <title>VMWARE, INC. - CLASS A</title>
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          <isin value="US9285634021"/>
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        <balance>361.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>54171.66000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NIPPON TELEGRAPH AND TELEPHONE CORPORATION</name>
        <lei>353800VHQU5VIXVUA841</lei>
        <title>NIPPON TELEGRAPH &amp; TELEPHONE CORP.</title>
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          <isin value="JP3735400008"/>
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        <balance>3300.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>COCA-COLA EUROPEAN PARTNERS PLC</name>
        <lei>549300LTH67W4GWMRF57</lei>
        <title>COCA-COLA EUROPEAN PARTNERS PLC</title>
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          <isin value="GB00BDCPN049"/>
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        <balance>200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11090.00000000</valUSD>
        <pctVal>0.002934832988</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN EXPRESS COMPANY</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>AMERICAN EXPRESS CO</title>
        <cusip>025816BW8</cusip>
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          <isin value="US025816BW85"/>
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        <balance>567000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>597030.59000000</valUSD>
        <pctVal>0.157996850359</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Yum China Holdings Inc</name>
        <lei>529900DO9BYZ7VA3K502</lei>
        <title>YUM CHINA HOLDINGS INC</title>
        <cusip>98850P109</cusip>
        <identifiers>
          <isin value="US98850P1093"/>
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        <balance>3288.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>149373.84000000</valUSD>
        <pctVal>0.039529961515</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>iShares Russell 2000 ETF</name>
        <lei>N/A</lei>
        <title>ISHARES RUSSELL 2000 ETF (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="IWM"/>
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        <balance>39.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5401.50000000</valUSD>
        <pctVal>0.001429440972</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>iShares Russell 2000 ETF</issuerName>
                <issueTitle>ISHARES RUSSELL 2000 ETF (CALL OPTION)</issueTitle>
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                  <cusip value="464287655"/>
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            </descRefInstrmnt>
            <shareNo>39.00000000</shareNo>
            <exercisePrice>162</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-31</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-7750.79</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>America Movil, S.A.B. de C.V.</name>
        <lei>5493000FNR3UCEAONM59</lei>
        <title>AMERICA MOVIL SA DE CV-SERL</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="MXP001691213"/>
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        <balance>49186.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="MXN" exchangeRt="19.73100000"/>
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        <pctVal>0.009657958453</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC (PUT OPTION)</name>
        <lei>N/A</lei>
        <title>CITIGROUP INC (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="."/>
          <other otherDesc="Internal" value="Z949GV0E5"/>
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        <balance>-34.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-4488.00000000</valUSD>
        <pctVal>-0.00118769435</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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              <otherRefInst>
                <issuerName>CITIGROUP INC (PUT OPTION)</issuerName>
                <issueTitle>CITIGROUP INC (PUT OPTION)</issueTitle>
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                  <cusip value="172967424"/>
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            </descRefInstrmnt>
            <shareNo>34.00000000</shareNo>
            <exercisePrice>63</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>98.74</unrealizedAppr>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LafargeHolcim Ltd</name>
        <lei>529900EHPFPYHV6IQO98</lei>
        <title>LAFARGEHOLCIM LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CH0012214059"/>
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        <balance>820.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CAPITALAND LIMITED</name>
        <lei>2549006LYGY45GHGWZ89</lei>
        <title>CAPITALAND LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SG1J27887962"/>
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        <balance>568600.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SUMITOMO MITSUI FINANCIAL GR (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>SUMITOMO MITSUI FINANCIAL GR (CALL OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="8316"/>
          <other otherDesc="Internal" value="BRTHRA1S8"/>
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        <balance>11358.00000000</balance>
        <units>NC</units>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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            <shareNo>11358.00000000</shareNo>
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            <expDt>2020-12-11</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-36502.59</unrealizedAppr>
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      <invstOrSec>
        <name>KUEHNE UND NAGEL INTERNATIONAL AG</name>
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        <title>KUEHNE UND NAGEL INTERNATIONAL AG</title>
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          <isin value="CH0025238863"/>
          <other otherDesc="Internal" value="SB142S608"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SAPUTO INC</name>
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        <name>Reino de Espana</name>
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      <invstOrSec>
        <name>VISTRA ENERGY CORP.</name>
        <lei>549300KP43CPCUJOOG15</lei>
        <title>VISTRA ENERGY CORP</title>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>SPDR S&amp;P 500 ETF Trust</name>
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          <isin value="N/A"/>
          <ticker value="SPY"/>
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        <balance>45.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                <issuerName>SPDR S&amp;P 500 ETF Trust</issuerName>
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      <invstOrSec>
        <name>Banco Santander (Brasil) S.A.</name>
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        <invCountry>BR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CHINA MOLYBDENUM LTD H</name>
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        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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              <counterpartyName>CITIGROUP GLOBAL MARKETS INC.</counterpartyName>
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                <issuerName>CHINA MOLYBDENUM LTD H</issuerName>
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                  <isin value="CNE100000114"/>
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              <notionalAmt amt="-9373.06000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-579.12000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>AGILE GROUP HOLDINGS LIMITED</name>
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          <isin value="KYG011981035"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PROJECT LIGHTHOUSE SERIES F</name>
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          <other otherDesc="Internal" value="BRSPT3AA4"/>
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        <balance>63925.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>458981.50000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EXPEDIA GROUP, INC.</name>
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          <isin value="US30212P3038"/>
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        <balance>514.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>69086.74000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ROSS STORES, INC.</name>
        <lei>549300ENZFLPGRDFZQ60</lei>
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          <isin value="US7782961038"/>
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        <balance>417.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>45807.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC</title>
        <cusip>404280AS8</cusip>
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          <isin value="US404280AS86"/>
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        <balance>414000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>437805.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NBCUNIVERSAL ENTERPRISE, INC.</name>
        <lei>N/A</lei>
        <title>NBCUNIVERSAL ENTERPRISE</title>
        <cusip>63946CAE8</cusip>
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          <isin value="US63946CAE84"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>204379.17000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2099-12-31</maturityDt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SINOPEC ENGINEERING (GROUP) CO., LTD.</name>
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        <title>SINOPEC ENGINEERING GROUP</title>
        <cusip>N/A</cusip>
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          <isin value="CNE100001NV2"/>
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        <balance>16500.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Guangzhou Automobile Group Co., Ltd</name>
        <lei>5299005KY9BJO3ZE6A37</lei>
        <title>GUANGZHOU AUTOMOBILE GROUP CO LTD</title>
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          <isin value="CNE100001NQ2"/>
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        <balance>23600.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>LG DISPLAY LTD</name>
        <lei>N/A</lei>
        <title>LG DISPLAY LTD</title>
        <cusip>N/A</cusip>
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          <isin value="KR7034220004"/>
          <other otherDesc="Internal" value="SB01VZN99"/>
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        <balance>-1663.00000000</balance>
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        <currencyConditional curCd="KRW" exchangeRt="1196.00000000"/>
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        <assetCat>DE</assetCat>
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        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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              <counterpartyName>CITIGROUP</counterpartyName>
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            <descRefInstrmnt>
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                <issuerName>LG DISPLAY LTD</issuerName>
                <issueTitle>LG DISPLAY LTD</issueTitle>
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              <notionalAmt amt="-23913.43000000" curCd="USD"/>
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            <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>Schlumberger N.V.</name>
        <lei>213800ZUA17OK3QLGM62</lei>
        <title>SCHLUMBERGER LTD.</title>
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          <isin value="AN8068571086"/>
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        <balance>2418.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SUNTRUST BANKS, INC.</name>
        <lei>7E1PDLW1JL6TS0BS1G03</lei>
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        <balance>22982.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORPORATION</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CO</title>
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        <balance>190000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MICROSOFT CORPORATION</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>MICROSOFT CORP (PUT OPTION)</title>
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          <isin value="N/A"/>
          <ticker value="MSFT"/>
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        <balance>-18.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-3870.00000000</valUSD>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
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                <issuerName>MICROSOFT CORPORATION</issuerName>
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            <shareNo>18.00000000</shareNo>
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      <invstOrSec>
        <name>MOTOROLA SOLUTIONS, INC.</name>
        <lei>6S552MUG6KGJVEBSEC55</lei>
        <title>MOTOROLA SOLUTIONS, INC.</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Shin-Etsu Chemical Co., Ltd.</name>
        <lei>353800PX8Q64N86H5W41</lei>
        <title>SHIN-ETSU CHEMICAL</title>
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          <isin value="JP3371200001"/>
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        <balance>11600.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>LBX Pharmacy Chain Joint Stock Company</name>
        <lei>N/A</lei>
        <title>LAOBAIXING PHARMACY CHAIN-A</title>
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          <isin value="CNE1000023Q8"/>
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        <balance>5500.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>NORWEGIAN KRONE</name>
        <lei>N/A</lei>
        <title>NORWEGIAN KRONE</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal" value="NOK_20191206_JPMORGANCHASE_423132"/>
        </identifiers>
        <balance>-5819000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <currencyConditional curCd="NOK" exchangeRt="1.00000000"/>
        <valUSD>-25491.36000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>NO</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>JP MORGAN CHASE</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>666049.39000000</amtCurSold>
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            <amtCurPur>5819000.00000000</amtCurPur>
            <curPur>NOK</curPur>
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            <unrealizedAppr>-25491.36</unrealizedAppr>
          </fwdDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PFIZER INC.</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>PFIZER, INC.</title>
        <cusip>717081103</cusip>
        <identifiers>
          <isin value="US7170811035"/>
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        <balance>59006.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2120085.58000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CHINA GAS HOLDINGS LTD</name>
        <lei>N/A</lei>
        <title>CHINA GAS HOLDINGS LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="BMG2109G1033"/>
          <other otherDesc="Internal" value="S64607948"/>
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        <balance>-2400.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Contract for Differences" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
            <counterparties>
              <counterpartyName>J.P. MORGAN SECURITIES LLC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>CHINA GAS HOLDINGS LTD</issuerName>
                <issueTitle>CHINA GAS HOLDINGS LTD</issueTitle>
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                  <isin value="BMG2109G1033"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <terminationDt>2039-12-31</terminationDt>
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              <notionalAmt amt="-9143.18000000" curCd="USD"/>
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            <delta>XXXX</delta>
            <unrealizedAppr>-135.30000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Fortum Oyj</name>
        <lei>635400IUIZZIUJSAMF76</lei>
        <title>FORTUM OYJ</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FI0009007132"/>
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        <balance>64.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <pctVal>0.000400608672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HSBC HOLDINGS PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC HOLDINGS PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB0005405286"/>
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        <balance>148844.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81347000"/>
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        <pctVal>0.302164505686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENEL - SPA</name>
        <lei>WOCMU6HCI0OJWNPRZS33</lei>
        <title>ENEL SPA</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IT0003128367"/>
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        <balance>177468.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <pctVal>0.350866638020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INDUSTRIAL AND COMMERCIAL BANK OF CHINA LIMITED</name>
        <lei>5493002ERZU2K9PZDL40</lei>
        <title>INDUSTRIAL &amp; COMMERCIAL BANK OF CHINA LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000003G1"/>
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        <balance>38000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
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        <pctVal>0.006715075184</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THE WILLIAMS COMPANIES, INC.</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>WILLIAMS COS., INC.</title>
        <cusip>969457100</cusip>
        <identifiers>
          <isin value="US9694571004"/>
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        <balance>62579.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1505650.74000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Inner Mongolia Yili Industrial Group Co., Ltd.</name>
        <lei>N/A</lei>
        <title>INNER MONGOLIA YILI INDSUTRIAL GROUP CO LTD</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE000000JP5"/>
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        <balance>14200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.13840000"/>
        <valUSD>57037.25000000</valUSD>
        <pctVal>0.015094211258</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ROYAL DUTCH SHELL PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>ROYAL DUTCH SHELL PLC B SHARES</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B03MM408"/>
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        <balance>374.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81347000"/>
        <valUSD>10984.81000000</valUSD>
        <pctVal>0.002906995740</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENERGY TRANSFER OPERATING, L.P.</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>ENERGY TRANSFER PARTNERS</title>
        <cusip>29273RBD0</cusip>
        <identifiers>
          <isin value="US29273RBD08"/>
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        <balance>84000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>87781.43000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>U.S. DOLLAR</name>
        <lei>N/A</lei>
        <title>U.S. DOLLAR</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="USD_20191101_UBSWARBURG_424254"/>
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        <balance>4385000.00000000</balance>
        <units>OU</units>
        <descOthUnits>Contract Amount</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>109974.95000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS WARBURG</counterpartyName>
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            <amtCurSold>4385000.00000000</amtCurSold>
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            <settlementDt>2019-11-01</settlementDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROYAL DUTCH SHELL PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>ROYAL DUTCH SHELL PLC A SHARES</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00B03MLX29"/>
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        <balance>35307.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MAEDA ROAD CONSTRUCTION CO., LTD.</name>
        <lei>N/A</lei>
        <title>MAEDA ROAD CONSTRUCTION CO. LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="JP3861600009"/>
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        <balance>3500.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>76462.45000000</valUSD>
        <pctVal>0.020234853076</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Inspur Electronic Information Industry Co., Ltd.</name>
        <lei>N/A</lei>
        <title>INSPUR ELEC INFO INDU</title>
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          <isin value="CNE0000012M2"/>
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        <balance>15900.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CNY" exchangeRt="7.13840000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>TOPIK BANK INDEX (PUT OPTION)</name>
        <lei>N/A</lei>
        <title>TOPIK BANK INDEX (PUT OPTION)</title>
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        <identifiers>
          <ticker value="TPNBNKJP"/>
          <other otherDesc="Internal" value="BRTHDFP64"/>
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        <balance>-269219.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
        <valUSD>-37305.69000000</valUSD>
        <pctVal>-0.00987249500</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Option" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <indexBasketInfo>
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                <indexIdentifier>TPNBNKJP </indexIdentifier>
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            <shareNo>269219.00000000</shareNo>
            <exercisePrice>157</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-12-13</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-16573.89</unrealizedAppr>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>CONCHO RESOURCES INC</name>
        <lei>N/A</lei>
        <title>CONCHO RESOURCES INC</title>
        <cusip>N/A</cusip>
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          <isin value="US20605P1012"/>
          <other otherDesc="Internal" value="20605P101"/>
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        <balance>-158.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-10728.20000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <othDeriv derivCat="OTH" othDesc="Contract for Differences">
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            <descRefInstrmnt>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>PAYB IRS USD 1.55%</name>
        <lei>N/A</lei>
        <title>PAYB IRS USD 1.55%</title>
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          <other otherDesc="Internal" value="BRTXADNW2"/>
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        <valUSD>-6930.52000000</valUSD>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="INTEREST RATE SWAP" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <rcptCurCd>USD</rcptCurCd>
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        <securityLending>
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      <invstOrSec>
        <name>ZOETIS INC.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
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          <isin value="US98978V1035"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HUAZHU GROUP LIMITED</name>
        <lei>549300Y5ML31FVN83730</lei>
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          <isin value="US44332N1063"/>
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        <balance>1764.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EURO</name>
        <lei>N/A</lei>
        <title>EURO</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal" value="EUR_20191206_UBSWARBURG_432646"/>
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        <balance>-856000.00000000</balance>
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        <descOthUnits>Contract Amount</descOthUnits>
        <currencyConditional curCd="EUR" exchangeRt="1.00000000"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Forward" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>UBS WARBURG</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <amtCurSold>942846.34000000</amtCurSold>
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            <amtCurPur>856000.00000000</amtCurPur>
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            <settlementDt>2019-12-06</settlementDt>
            <unrealizedAppr>-5238.87</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED</name>
        <lei>335800OX2H9AP7NHLT64</lei>
        <title>HOUSING DEVELOPMENT FINANCE CORP. LTD.</title>
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          <isin value="INE001A01036"/>
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        <balance>33645.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Mitsubishi UFJ Financial Group, Inc.</name>
        <lei>353800V2V8PUY9TK3E06</lei>
        <title>MITSUBISHI UFJ FINANCIAL GROUP, INC.</title>
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          <isin value="JP3902900004"/>
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        <balance>1900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="108.11000000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Sino Land Company Limited</name>
        <lei>529900G5P51053HJVZ92</lei>
        <title>SINO LAND CO., LTD.</title>
        <cusip>N/A</cusip>
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          <isin value="HK0083000502"/>
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        <balance>24000.00000000</balance>
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        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CVS HEALTH CORPORATION</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP</title>
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          <isin value="US126650CV07"/>
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        <balance>813000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>845711.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-03-09</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HP INC.</name>
        <lei>WHKXQACZ14C5XRO8LW03</lei>
        <title>HP INC</title>
        <cusip>40434L105</cusip>
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          <isin value="US40434L1052"/>
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        <balance>854.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16157.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERICAN TOWER CORPORATION</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>AMERICAN TOWER CORP.   REIT</title>
        <cusip>03027X100</cusip>
        <identifiers>
          <isin value="US03027X1000"/>
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        <balance>943.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>208525.59000000</valUSD>
        <pctVal>0.055183749360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="REIT"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>10Y RTR 1.08% 8/13/20</name>
        <lei>N/A</lei>
        <title>10Y RTR 1.08% 8/13/20</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTW17119"/>
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        <balance>222.63980000</balance>
        <units>OU</units>
        <descOthUnits>Notional</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>20965.01000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="IRS SWAPTION" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="SWO">
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              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                    <cusip>N/A</cusip>
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                      <other otherDesc="Internal" value="BRTW1711S"/>
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                    <balance>N/A</balance>
                    <units>OU</units>
                    <descOthUnits>Notional</descOthUnits>
                    <curCd>USD</curCd>
                    <valUSD>N/A</valUSD>
                    <pctVal>N/A</pctVal>
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                    <invCountry>US</invCountry>
                    <invOthCountry>US</invOthCountry>
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                    <indexBasketInfo>
                      <indexName>US DOLLAR 3 MO LIBOR - BBA 11AM</indexName>
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                  <fixedPmntDesc amount="0.00" curCd="USD" fixedOrFloating="Fixed" fixedRt="1.08"/>
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                  <rcptCurCd>USD</rcptCurCd>
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            <shareNo>222.63980000</shareNo>
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            <delta>XXXX</delta>
            <unrealizedAppr>935.63</unrealizedAppr>
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      <invstOrSec>
        <name>Atlas Copco Aktiebolag</name>
        <lei>213800T8PC8Q4FYJZR07</lei>
        <title>ATLAS COPCO AB B SHARES</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="SE0011166628"/>
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        <balance>546.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.84120000"/>
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        <pctVal>0.003921897507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNI-PRESIDENT ENTERPRISES CORP.</name>
        <lei>254900DAXBDMVEXU5959</lei>
        <title>PRESIDENT ENTERPRISES CORP.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="TW0001216000"/>
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        <balance>67000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.02300000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PACKAGING CORPORATION OF AMERICA</name>
        <lei>549300XZP8MFZFY8TJ84</lei>
        <title>PACKAGING CORP. OF AMERICA</title>
        <cusip>695156109</cusip>
        <identifiers>
          <isin value="US6951561090"/>
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        <balance>226.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23978.60000000</valUSD>
        <pctVal>0.006345643488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SPDR GOLD SHARES (CALL OPTION)</name>
        <lei>N/A</lei>
        <title>SPDR GOLD SHARES (CALL OPTION)</title>
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          <ticker value="GLD"/>
          <other otherDesc="Internal" value="BRTX7F0X4"/>
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        <balance>3344.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5686.44000000</valUSD>
        <pctVal>0.001504846861</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Equity Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                <issueTitle>SPDR GOLD SHARES (CALL OPTION)</issueTitle>
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            <shareNo>3344.00000000</shareNo>
            <exercisePrice>148</exercisePrice>
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            <expDt>2019-12-31</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-6340.59</unrealizedAppr>
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      <invstOrSec>
        <name>JD.COM, INC.</name>
        <lei>549300HVTWB0GJZ16V92</lei>
        <title>JD.COM INC ADR</title>
        <cusip>47215P106</cusip>
        <identifiers>
          <isin value="US47215P1066"/>
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        <balance>1472.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Bundesrepublik Deutschland</name>
        <lei>N/A</lei>
        <title>EURO-BUND FUTURE DEC19</title>
        <cusip>N/A</cusip>
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          <isin value="DE0001102457"/>
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        <balance>-7.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <issuerConditional desc="Treasury Future" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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            <payOffProf>Short</payOffProf>
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                <issuerName>Bundesrepublik Deutschland</issuerName>
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                  <ticker value="FGBLZ9"/>
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            <expDate>2019-12-06</expDate>
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      <invstOrSec>
        <name>THE PROGRESSIVE CORPORATION</name>
        <lei>529900TACNVLY9DCR586</lei>
        <title>PROGRESSIVE CORPORATION</title>
        <cusip>743315103</cusip>
        <identifiers>
          <isin value="US7433151039"/>
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        <balance>445.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>34376.25000000</valUSD>
        <pctVal>0.009097254509</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DOLLAR TREE, INC.</name>
        <lei>549300PMSTQITB1WHR43</lei>
        <title>DOLLAR TREE INC</title>
        <cusip>256746108</cusip>
        <identifiers>
          <isin value="US2567461080"/>
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        <balance>12229.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1396062.64000000</valUSD>
        <pctVal>0.369450918794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MINI MSCI EMERGING MARKETS INDEX FUTURE DEC19</name>
        <lei>N/A</lei>
        <title>MINI MSCI EMERGING MARKETS INDEX FUTURE DEC19</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="N/A"/>
          <ticker value="MMEZ9"/>
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        <balance>17.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-21075.25000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Future" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>IFUS</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
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              <indexBasketInfo>
                <indexName>US MSCI Emerging Markets Equity Index Future Dec 2019</indexName>
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            <unrealizedAppr>-21075.25</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHARTER COMMUNICATIONS, INC.</name>
        <lei>0J0XRGZE3PBRFEZ7MV65</lei>
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          <isin value="US16119P1084"/>
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        <balance>5865.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2417083.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED AIRLINES HOLDINGS, INC.</name>
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        <title>UNITED AIRLINES HOLDINGS INC</title>
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          <isin value="US9100471096"/>
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        <balance>341.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>30147.81000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LIBERTY MEDIA CORPORATION</name>
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        <title>LIBERTY SIRIUSXM GROUP CL A</title>
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          <isin value="US5312294094"/>
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        <balance>8362.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fubon Financial Holding Co., Ltd.</name>
        <lei>549300G7Y2TS2XNIB476</lei>
        <title>FUBON FINANCIAL HOLDINGS CO., LTD.</title>
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          <isin value="TW0002881000"/>
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        <balance>114000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>REINSURANCE GROUP OF AMERICA, INCORPORATED</name>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>QUINTIS (AUSTRALIA) PTY LIMITED</name>
        <lei>N/A</lei>
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          <isin value="US74877UAA60"/>
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        <balance>41361.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>41361.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2026-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isPaidKind>Y</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PTT Global Chemical Public Company Limited</name>
        <lei>5493007X3230PPPZFF40</lei>
        <title>PTT CHEMICAL PCL</title>
        <cusip>N/A</cusip>
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          <isin value="TH1074010006"/>
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        <balance>67900.00000000</balance>
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        <currencyConditional curCd="THB" exchangeRt="30.58000000"/>
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        <pctVal>0.031671820486</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northrop Grumman Corporation</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>NORTHROP GRUMMAN CORP.</title>
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          <isin value="US6668071029"/>
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        <balance>76.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28484.04000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VODAFONE GROUP PUBLIC LIMITED COMPANY</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>VODAFONE GROUP PLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="GB00BH4HKS39"/>
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        <balance>1156031.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.81347000"/>
        <valUSD>2301759.77000000</valUSD>
        <pctVal>0.609132597282</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ZHEJIANG EXPRESSWAY CO., LTD.</name>
        <lei>213800X1ZRKM85U9H438</lei>
        <title>ZHEJIANG EXPRESSWAY CO. LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CNE1000004S4"/>
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        <balance>10000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83750000"/>
        <valUSD>8627.21000000</valUSD>
        <pctVal>0.002283085708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Caixabank, S.A.</name>
        <lei>7CUNS533WID6K7DGFI87</lei>
        <title>CAIXABANK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ES0140609019"/>
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        <balance>3252.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
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        <pctVal>0.002263208764</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOOKING HOLDINGS INC.</name>
        <lei>FXM8FAOHMYDIPD38UZ17</lei>
        <title>BOOKING HOLDINGS INC</title>
        <cusip>09857L108</cusip>
        <identifiers>
          <isin value="US09857L1089"/>
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        <balance>14.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27476.54000000</valUSD>
        <pctVal>0.007271330567</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>USD/JPY (PUT OPTION)</name>
        <lei>N/A</lei>
        <title>USD/JPY (PUT OPTION)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTXAPBD0"/>
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        <balance>-45490.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-14516.00000000</valUSD>
        <pctVal>-0.00384148202</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Currency Option" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>XCBO</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
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                <issuerName>USD/JPY (PUT OPTION)</issuerName>
                <issueTitle>USD/JPY (PUT OPTION)</issueTitle>
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            <principalAmt>100.00000000</principalAmt>
            <curCd>USD</curCd>
            <exercisePrice>99</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-03-11</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>2087.85</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>2Y RTP 1.88% 8/13/20</name>
        <lei>N/A</lei>
        <title>2Y RTP 1.88% 8/13/20</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal" value="BRTW17101"/>
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        <balance>-1101.11470000</balance>
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        <descOthUnits>Notional</descOthUnits>
        <curCd>USD</curCd>
        <valUSD>-17044.93000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="IRS SWAPTION" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="SWO">
            <counterparties>
              <counterpartyName>BANK OF AMERICA NA</counterpartyName>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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                      <other otherDesc="Internal" value="BRTW1710S"/>
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                    <pctVal>N/A</pctVal>
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                    <invOthCountry>US</invOthCountry>
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                  <descRefInstrmnt>
                    <indexBasketInfo>
                      <indexName>US DOLLAR 3 MO LIBOR - BBA 11AM</indexName>
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        <name>WALGREEN CO.</name>
        <lei>E1OI0SEUGJMPPTKRDD35</lei>
        <title>WALGREEN CO</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>AUTODESK, INC.</name>
        <lei>FRKKVKAIQEF3FCSTPG55</lei>
        <title>AUTODESK, INC.</title>
        <cusip>052769106</cusip>
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          <isin value="US0527691069"/>
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        <balance>8280.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1222956.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>COAL INDIA LTD</name>
        <lei>335800NLJQZNHM9LBB31</lei>
        <title>COAL INDIA LTD.</title>
        <cusip>N/A</cusip>
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          <isin value="INE522F01014"/>
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        <balance>25283.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IN</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EURO STOXX 50 FUTURE DEC19</name>
        <lei>N/A</lei>
        <title>EURO STOXX 50 FUTURE DEC19</title>
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        <identifiers>
          <isin value="N/A"/>
          <ticker value="FESXZ9"/>
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        <balance>-3.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.91760000"/>
        <valUSD>-1224.85000000</valUSD>
        <pctVal>-0.00032414158</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Index Future" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>XEUR</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>DJ EURO STOXX 50 FUTR Dec 2019</indexName>
                <indexIdentifier>FESXZ9</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2019-12-20</expDate>
            <notionalAmt>-115002.26</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>-1224.85</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2019-10-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Allianz Variable Insurance Products Trust</ncom:nameOfApplicant>
      <ncom:signature>Bashir C. Asad</ncom:signature>
      <ncom:signerName>Bashir C. Asad</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
