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        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>CORPORATION FINANCIERE POWER</name>
        <lei>549300RD0SS3HPUKXF62</lei>
        <title>POWER FINANCIAL CORP COMMON STOCK</title>
        <cusip>73927C100</cusip>
        <identifiers>
          <isin value="CA73927C1005"/>
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        <balance>6284.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>146949.51000000</valUSD>
        <pctVal>0.283936955841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VENTAS, INC.</name>
        <lei>ORQTRC074CWLT3DKHT41</lei>
        <title>VENTAS INC REIT</title>
        <cusip>92276F100</cusip>
        <identifiers>
          <isin value="US92276F1003"/>
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        <balance>905.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>58915.50000000</valUSD>
        <pctVal>0.113836975175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>N/A</name>
        <lei>N/A</lei>
        <title>90DAY STERLING FU SEP21 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FSSU1"/>
        </identifiers>
        <balance>32.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77199000"/>
        <valUSD>5148253.75000000</valUSD>
        <pctVal>9.947494875455</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Interest Rate Futures</issuerName>
                <issueTitle>90 Day Sterling Future Sep 2021</issueTitle>
                <identifiers>
                  <ticker value="LU21"/>
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                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2021-09-18</expDate>
            <notionalAmt>4934594.97000000</notionalAmt>
            <curCd>GBP</curCd>
            <unrealizedAppr>213658.78000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AEGON N.V.</name>
        <lei>O4QK7KMMK83ITNTHUG69</lei>
        <title>AEGON NV COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0000303709"/>
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        <balance>-15950.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>-68950.28000000</valUSD>
        <pctVal>-0.13322625306</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>OMNICOM GROUP INC.</name>
        <lei>HKUPACFHSSASQK8HLS17</lei>
        <title>OMNICOM GROUP COMMON STOCK</title>
        <cusip>681919106</cusip>
        <identifiers>
          <isin value="US6819191064"/>
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        <balance>1139.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>87919.41000000</valUSD>
        <pctVal>0.169878549678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>AXA SA</name>
        <lei>F5WCUMTUM4RKZ1MAIE39</lei>
        <title>AXA SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000120628"/>
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        <balance>2109.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>55711.08000000</valUSD>
        <pctVal>0.107645370589</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>VSTOXX FUTURE     JAN20 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FVSF0"/>
        </identifiers>
        <balance>-283.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>-525523.64000000</valUSD>
        <pctVal>-1.01542075617</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>VSTOXX Mini Futures Jan 2020</indexName>
                <indexIdentifier>N/A</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
              </indexBasketInfo>
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            <expDate>2020-01-25</expDate>
            <notionalAmt>-517590.80000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>-7932.84000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GIBSON ENERGY INC.</name>
        <lei>549300WYW5D9I3FR0643</lei>
        <title>GIBSON ENERGY INC COMMON STOCK</title>
        <cusip>374825206</cusip>
        <identifiers>
          <isin value="CA3748252069"/>
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        <balance>8123.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>141602.07000000</valUSD>
        <pctVal>0.273604591785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>S&amp;P Emini 3rd Wk  Nov19P  2915 SHORT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="1ES3W2915W9"/>
        </identifiers>
        <balance>-12.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2940.00000000</valUSD>
        <pctVal>-0.00568069026</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Put Option 2915 Nov 2019 on S&amp;P 500 Future (e-Mini) Dec 2019</issueTitle>
                <identifiers>
                  <ticker value="EW3Z9-11/2019-P-2915"/>
                  <other otherDesc="Other" value="N/A"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-600.00000000</shareNo>
            <exercisePrice>915.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-11-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>9483.00000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VIVENDI S.A.</name>
        <lei>969500FU4DRAEVJW7U54</lei>
        <title>VIVENDI COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000127771"/>
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        <balance>1918.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>53393.05000000</valUSD>
        <pctVal>0.103166455472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>S&amp;P Emini 3rd Wk  Nov19P  2970 SHORT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="1ES3W2970W9"/>
        </identifiers>
        <balance>-11.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-5445.00000000</valUSD>
        <pctVal>-0.01052087022</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>Put Option 2970 Nov 2019 on S&amp;P 500 Future (e-Mini) Dec 2019</issueTitle>
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                  <ticker value="EW3Z9-11/2019-P-2970"/>
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            </descRefInstrmnt>
            <shareNo>-550.00000000</shareNo>
            <exercisePrice>970.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2019-11-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>13508.00000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GENERAL MILLS, INC.</name>
        <lei>2TGYMUGI08PO8X8L6150</lei>
        <title>GENERAL MILLS INC COMMON STOCK</title>
        <cusip>370334104</cusip>
        <identifiers>
          <isin value="US3703341046"/>
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        <balance>2087.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>106144.82000000</valUSD>
        <pctVal>0.205093824873</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>EXPEDIA GROUP, INC.</name>
        <lei>N/A</lei>
        <title>EXPEDIA GROUP INC COMMON STOCK</title>
        <cusip>30212P303</cusip>
        <identifiers>
          <isin value="US30212P3038"/>
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        <balance>830.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>113427.80000000</valUSD>
        <pctVal>0.219166053972</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>FLEETCOR TECHNOLOGIES, INC.</name>
        <lei>549300DG6RR0NQSFLN74</lei>
        <title>FLEETCOR TECHNOLOGIES INC COMMON STOCK</title>
        <cusip>339041105</cusip>
        <identifiers>
          <isin value="US3390411052"/>
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        <balance>229.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>67376.38000000</valUSD>
        <pctVal>0.130185151572</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>OZ MINERALS LIMITED</name>
        <lei>529900O2VBT5CL7EZT27</lei>
        <title>OZ MINERALS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000OZL8"/>
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        <balance>5152.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>36048.09000000</valUSD>
        <pctVal>0.069652392434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>HSCEI FUTURES     NOV19 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="HCEIX9"/>
        </identifiers>
        <balance>-10.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83595000"/>
        <valUSD>-674774.60000000</valUSD>
        <pctVal>-1.30380459113</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>H-SHARES IDX FUT Nov 2019</indexName>
                <indexIdentifier>N/A</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
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            </descRefInstrmnt>
            <expDate>2019-12-01</expDate>
            <notionalAmt>-676195.33000000</notionalAmt>
            <curCd>HKD</curCd>
            <unrealizedAppr>1420.73000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Koninklijke Ahold Delhaize N.V.</name>
        <lei>724500C9GNBV20UYRX36</lei>
        <title>KONINKLIJKE AHOLD DELHAIZE N COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0011794037"/>
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        <balance>1689.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>42054.53000000</valUSD>
        <pctVal>0.081258081279</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Amadeus IT Group SA</name>
        <lei>9598004A3FTY3TEHHN09</lei>
        <title>AMADEUS IT GROUP SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ES0109067019"/>
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        <balance>663.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>49054.69000000</valUSD>
        <pctVal>0.094783843432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>thyssenkrupp AG</name>
        <lei>549300UDG16DOYUPR330</lei>
        <title>THYSSENKRUPP AG COMMON STOCK</title>
        <cusip>N/A</cusip>
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          <isin value="DE0007500001"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Symrise AG</name>
        <lei>529900D82I6R9601CF26</lei>
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        <cusip>N/A</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PRAIRIESKY ROYALTY LTD.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SQUARE, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>WASTE MANAGEMENT, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
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          <ticker value="FSSH1"/>
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        <isRestrictedSec>N</isRestrictedSec>

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                <issuerName>Interest Rate Futures</issuerName>
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        <name>FONDS DE PLACEMENT IMMOBILIER D'IMMEUBLES RESIDENTIELS CANADIEN</name>
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        <title>CAN APARTMENT PROP REAL ESTA REIT</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Muenchener Rueckversicherungs-Gesellschaft Aktiengesellschaft in Muenchen</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ZEBRA TECHNOLOGIES CORPORATION</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Hannover Rueck SE</name>
        <lei>529900KIN5BE45V5KB18</lei>
        <title>HANNOVER RUECK SE COMMON STOCK</title>
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          <isin value="DE0008402215"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>PERNOD RICARD S.A.</name>
        <lei>52990097YFPX9J0H5D87</lei>
        <title>PERNOD RICARD SA COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>SODEXO SA</name>
        <lei>969500LCBOG12HXPYM84</lei>
        <title>SODEXO SA COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>ABIOMED, INC.</name>
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        <name>ASSICURAZIONI GENERALI - SOCIETA PER AZIONI</name>
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        <title>ASSICURAZIONI GENERALI COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ALAMOS GOLD INC.</name>
        <lei>549300TDOX73YGYXE959</lei>
        <title>ALAMOS GOLD INC-CLASS A COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CBOE VIX FUTURE   JAN20 PHYSICAL INDEX FUTURE.</title>
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        <identifiers>
          <ticker value="VXF0"/>
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        <balance>-89.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>E-MINI RUSS 2000  DEC19 PHYSICAL INDEX FUTURE.</title>
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          <ticker value="RTYZ9"/>
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      <invstOrSec>
        <name>THE KROGER CO.</name>
        <lei>6CPEOKI6OYJ13Q6O7870</lei>
        <title>KROGER CO COMMON STOCK</title>
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        <name>Intact Corporation financiere</name>
        <lei>5493009LXGE7Y4U9OY43</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <title>AMSTERDAM IDX FUT NOV19 PHYSICAL INDEX FUTURE.</title>
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          <ticker value="AEXX9"/>
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        <balance>14.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>QUEBECOR INC.</name>
        <lei>N/A</lei>
        <title>QUEBECOR INC  -CL B COMMON STOCK</title>
        <cusip>748193208</cusip>
        <identifiers>
          <isin value="CA7481932084"/>
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        <balance>4766.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>110800.18000000</valUSD>
        <pctVal>0.214088946713</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RAMSAY HEALTH CARE LIMITED</name>
        <lei>549300QBX122KF2JPI10</lei>
        <title>RAMSAY HEALTH CARE LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000RHC8"/>
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        <balance>738.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>34843.67000000</valUSD>
        <pctVal>0.067325202990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</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>N/A</name>
        <lei>N/A</lei>
        <title>BP CURRENCY FUT   DEC19 CURRENCY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BPZ9"/>
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        <balance>48.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>3887100.00000000</valUSD>
        <pctVal>7.510684050952</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Currency Futures</issuerName>
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                  <ticker value="BCZ9"/>
                  <other otherDesc="Other" value="N/A"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2019-12-19</expDate>
            <notionalAmt>3856886.96000000</notionalAmt>
            <curCd>USD</curCd>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DEVON ENERGY CORPORATION</name>
        <lei>54930042348RKR3ZPN35</lei>
        <title>DEVON ENERGY CORP COMMON STOCK</title>
        <cusip>25179M103</cusip>
        <identifiers>
          <isin value="US25179M1036"/>
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        <balance>-2690.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-54553.20000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>ADVANCED MICRO DEVICES, INC.</name>
        <lei>R2I72C950HOYXII45366</lei>
        <title>ADVANCED MICRO DEVICES COMMON STOCK</title>
        <cusip>007903107</cusip>
        <identifiers>
          <isin value="US0079031078"/>
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        <balance>-1860.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-63109.80000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>Atlas Arteria Group</name>
        <lei>N/A</lei>
        <title>ATLAS ARTERIA UNIT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU0000013559"/>
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        <balance>7184.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
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        <pctVal>0.076837982561</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>N/A</lei>
        <title>US 5YR NOTE (CBT) DEC19 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FVZ9"/>
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        <balance>24.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>2860875.00000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>U.S. Treasury Futures</issuerName>
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                  <isin value="US9128286G05"/>
                  <ticker value="FVZ9"/>
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            <expDate>2020-01-03</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Repubblica Italiana</name>
        <lei>N/A</lei>
        <title>EURO-BTP FUTURE   DEC19 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FBTPZ9"/>
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        <balance>-13.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>-2094655.47000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Italy Govt. Bond Futures</issuerName>
                <issueTitle>Euro-BTP Futures Dec 2019</issueTitle>
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                  <isin value="IT0004889033"/>
                  <ticker value="FBTPZ9"/>
                  <other otherDesc="Other" value="N/A"/>
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            <expDate>2019-12-09</expDate>
            <notionalAmt>-2088361.29000000</notionalAmt>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SYDNEY AIRPORT HOLDINGS PTY LIMITED</name>
        <lei>N/A</lei>
        <title>SYDNEY AIRPORT UNIT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000SYD9"/>
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        <balance>5765.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>34892.67000000</valUSD>
        <pctVal>0.067419881161</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</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>Daimler AG</name>
        <lei>529900R27DL06UVNT076</lei>
        <title>DAIMLER AG-REGISTERED SHARES COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0007100000"/>
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        <balance>-1350.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>-78911.36000000</valUSD>
        <pctVal>-0.15247312726</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EMPIRE COMPANY LIMITED</name>
        <lei>549300TX0ZUSTEF7C719</lei>
        <title>EMPIRE CO LTD 'A' COMMON STOCK</title>
        <cusip>291843407</cusip>
        <identifiers>
          <isin value="CA2918434077"/>
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        <balance>4616.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>122558.29000000</valUSD>
        <pctVal>0.236808055880</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TABCORP HOLDINGS LIMITED</name>
        <lei>213800OCCFUN67NEY278</lei>
        <title>TABCORP HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000TAH8"/>
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        <balance>12454.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>41208.85000000</valUSD>
        <pctVal>0.079624051980</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>90-DAY BANK BILL  Mar20 Financial commodity future.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="YBAH1"/>
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        <balance>35.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>Interest Rate Futures</issuerName>
                <issueTitle>90 Day Bank Bill Mar 2021</issueTitle>
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                  <ticker value="IRH1"/>
                  <other otherDesc="Other" value="N/A"/>
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            <expDate>2021-03-13</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MARATHON OIL CORPORATION</name>
        <lei>1FRVQX2CRLGC1XLP5727</lei>
        <title>MARATHON OIL CORP COMMON STOCK</title>
        <cusip>565849106</cusip>
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          <isin value="US5658491064"/>
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        <balance>-5130.00000000</balance>
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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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>90-DAY BANK BILL  Jun20 Financial commodity future.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="YBAM0"/>
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        <balance>35.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
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        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>Interest Rate Futures</issuerName>
                <issueTitle>90 Day Bank Bill Jun 2020</issueTitle>
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                  <ticker value="IRM0"/>
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            </descRefInstrmnt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SPARK NEW ZEALAND LIMITED</name>
        <lei>529900HUN51H3Y7QBB66</lei>
        <title>SPARK NEW ZEALAND LTD COMMON STOCK</title>
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        <identifiers>
          <isin value="NZTELE0001S4"/>
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        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>NZ</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Bundesrepublik Deutschland</name>
        <lei>N/A</lei>
        <title>EURO-BUND FUTURE  DEC19 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FGBLZ9"/>
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        <balance>36.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>Germany Govt. Bond Futures</issuerName>
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                  <isin value="DE0001102457"/>
                  <ticker value="FGBLZ9"/>
                  <other otherDesc="Other" value="N/A"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2019-12-09</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>90DAY EURO$ FUTR  DEC20 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="EDZ0"/>
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        <balance>22.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5420525.00000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Interest Rate Futures</issuerName>
                <issueTitle>3M -- 90 Day EuroDollar Future (Consolidated) Dec 2020</issueTitle>
                <identifiers>
                  <ticker value="EVZ0"/>
                  <other otherDesc="Other" value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-12-17</expDate>
            <notionalAmt>5382919.94000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>37605.06000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COCA-COLA AMATIL LIMITED</name>
        <lei>JOR7RJTXUXBRJ4UA5G70</lei>
        <title>COCA-COLA AMATIL LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000CCL2"/>
        </identifiers>
        <balance>5409.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>37846.30000000</valUSD>
        <pctVal>0.073126907411</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CAC40 10 EURO FUT NOV19 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FCEX9"/>
        </identifiers>
        <balance>19.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>1213591.04000000</valUSD>
        <pctVal>2.344909796122</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>CAC40 10 EURO FUT Nov 2019</indexName>
                <indexIdentifier>N/A</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2019-11-18</expDate>
            <notionalAmt>1197922.46000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>15668.58000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JAMES HARDIE INDUSTRIES PUBLIC LIMITED COMPANY</name>
        <lei>635400NSGXKTVOO7JU45</lei>
        <title>JAMES HARDIE INDUSTRIES-CDI DEPOSITARY RECEIPT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000JHX1"/>
        </identifiers>
        <balance>1519.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>26052.45000000</valUSD>
        <pctVal>0.050338741144</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>EURO FX CURR FUT  DEC19 CURRENCY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="UROZ9"/>
        </identifiers>
        <balance>-7.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-977943.75000000</valUSD>
        <pctVal>-1.88959031819</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Currency Futures</issuerName>
                <issueTitle>EUR/USD Future (Consolidated) (IMM) Dec 2019</issueTitle>
                <identifiers>
                  <ticker value="EQZ9"/>
                  <other otherDesc="Other" value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2019-12-19</expDate>
            <notionalAmt>-977820.56000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-123.19000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Granite Real Estate Investment Trust</name>
        <lei>N/A</lei>
        <title>GRANITE REAL ESTATE INVESTME REIT</title>
        <cusip>387437114</cusip>
        <identifiers>
          <isin value="CA3874371147"/>
        </identifiers>
        <balance>2464.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>122012.06000000</valUSD>
        <pctVal>0.235752626139</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPARK INFRASTRUCTURE GROUP</name>
        <lei>N/A</lei>
        <title>SPARK INFRASTRUCTURE GROUP UNIT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000SKI7"/>
        </identifiers>
        <balance>17128.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>23850.55000000</valUSD>
        <pctVal>0.046084213293</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WORLEY LIMITED</name>
        <lei>549300XDR86FY8OLGP97</lei>
        <title>WORLEY LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000WOR2"/>
        </identifiers>
        <balance>-3070.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>-28908.76000000</valUSD>
        <pctVal>-0.05585772495</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>OMXS30 IND FUTURE NOV19 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="OMXS30X9"/>
        </identifiers>
        <balance>95.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="SEK" exchangeRt="9.65570000"/>
        <valUSD>1704809.07000000</valUSD>
        <pctVal>3.294044992917</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>OMXS30 IND FUTURE Nov 2019</indexName>
                <indexIdentifier>N/A</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
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            </descRefInstrmnt>
            <expDate>2019-11-18</expDate>
            <notionalAmt>1699347.70000000</notionalAmt>
            <curCd>SEK</curCd>
            <unrealizedAppr>5461.37000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>MSCI SING IX ETS  NOV19 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SSGX9"/>
        </identifiers>
        <balance>-66.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="SGD" exchangeRt="1.36045000"/>
        <valUSD>-1797905.11000000</valUSD>
        <pctVal>-3.47392586627</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>MSCI SING IX ETS Nov 2019</indexName>
                <indexIdentifier>N/A</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2019-12-01</expDate>
            <notionalAmt>-1787313.41000000</notionalAmt>
            <curCd>SGD</curCd>
            <unrealizedAppr>-10591.70000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRISTOL-MYERS SQUIBB COMPANY</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>BRISTOL-MYERS SQUIBB CO COMMON STOCK</title>
        <cusip>110122108</cusip>
        <identifiers>
          <isin value="US1101221083"/>
        </identifiers>
        <balance>1792.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>102807.04000000</valUSD>
        <pctVal>0.198644541085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Commerzbank Aktiengesellschaft</name>
        <lei>851WYGNLUQLFZBSYGB56</lei>
        <title>COMMERZBANK AG COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000CBK1001"/>
        </identifiers>
        <balance>-9500.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>-56822.85000000</valUSD>
        <pctVal>-0.10979354100</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MEDIBANK PRIVATE LIMITED</name>
        <lei>BDYVSUPTML83OLINBJ17</lei>
        <title>MEDIBANK PRIVATE LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000MPL3"/>
        </identifiers>
        <balance>10224.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>23821.98000000</valUSD>
        <pctVal>0.046029010122</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Canopy Growth Corporation</name>
        <lei>529900CSD7NH1UBC9X07</lei>
        <title>CANOPY GROWTH CORP COMMON STOCK</title>
        <cusip>138035100</cusip>
        <identifiers>
          <isin value="CA1380351009"/>
        </identifiers>
        <balance>-3370.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>-67369.30000000</valUSD>
        <pctVal>-0.13017147154</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CNH Industrial N.V.</name>
        <lei>549300WGC2HZ5J67V817</lei>
        <title>CNH INDUSTRIAL NV COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0010545661"/>
        </identifiers>
        <balance>-5840.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>-63492.14000000</valUSD>
        <pctVal>-0.12267999363</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADELAIDE BRIGHTON LTD.</name>
        <lei>529900XNYGV6JJJ38J47</lei>
        <title>ADELAIDE BRIGHTON LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000ABC7"/>
        </identifiers>
        <balance>-14940.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>-31720.62000000</valUSD>
        <pctVal>-0.06129082213</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>United Kingdom of Great Britain and Northern Ireland</name>
        <lei>N/A</lei>
        <title>LONG GILT FUTURE  DEC19 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FLGZ9"/>
        </identifiers>
        <balance>-9.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77199000"/>
        <valUSD>-1548672.91000000</valUSD>
        <pctVal>-2.99235752238</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>U.K. Gilt Futures</issuerName>
                <issueTitle>U.K. Long Gilt Future Dec 2019</issueTitle>
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                  <isin value="GB00BFX0ZL78"/>
                  <ticker value="GRZ9"/>
                  <other otherDesc="Other" value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2019-12-30</expDate>
            <notionalAmt>-1528575.38000000</notionalAmt>
            <curCd>GBP</curCd>
            <unrealizedAppr>-20097.53000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>90DAY EURO$ FUTR  MAR21 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="EDH1"/>
        </identifiers>
        <balance>22.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5424100.00000000</valUSD>
        <pctVal>10.48048708825</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Interest Rate Futures</issuerName>
                <issueTitle>3M -- 90 Day EuroDollar Future (Consolidated) Mar 2021</issueTitle>
                <identifiers>
                  <ticker value="EVH1"/>
                  <other otherDesc="Other" value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2021-03-18</expDate>
            <notionalAmt>5384569.54000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>39530.46000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NETAPP, INC.</name>
        <lei>QTX3D84DZDD5JYOCYH15</lei>
        <title>NETAPP INC COMMON STOCK</title>
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          <isin value="US64110D1046"/>
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        <curCd>USD</curCd>
        <valUSD>-62585.60000000</valUSD>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AURIZON HOLDINGS LIMITED</name>
        <lei>5299005PC1O6NOWL3H48</lei>
        <title>AURIZON HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000AZJ1"/>
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        <balance>8145.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</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>
      <invstOrSec>
        <name>CME GROUP INC.</name>
        <lei>LCZ7XYGSLJUHFXXNXD88</lei>
        <title>CME GROUP INC COMMON STOCK</title>
        <cusip>12572Q105</cusip>
        <identifiers>
          <isin value="US12572Q1058"/>
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        <balance>316.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>65017.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>Ferrari N.V.</name>
        <lei>549300RIVY5EX8RCON76</lei>
        <title>FERRARI NV COMMON STOCK</title>
        <cusip>N3167Y103</cusip>
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          <isin value="NL0011585146"/>
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        <balance>315.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
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        <pctVal>0.097377020570</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>S&amp;P Emini 3rd Wk  Nov19C  3020 SHORT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="1ES3W3020K9"/>
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        <balance>-11.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-19580.00000000</valUSD>
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        <assetCat>DIR</assetCat>
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        <invCountry>XX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
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              <otherRefInst>
                <issuerName>N/A</issuerName>
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                  <ticker value="EW3Z9-11/2019-C-3020"/>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>90-DAY BANK BILL  DEC20 Financial commodity future.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="YBAZ0"/>
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        <balance>36.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
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        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>Interest Rate Futures</issuerName>
                <issueTitle>90 Day Bank Bill Dec 2020</issueTitle>
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                  <ticker value="IRZ0"/>
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            <expDate>2020-12-13</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chartwell Retirement Residences</name>
        <lei>N/A</lei>
        <title>CHARTWELL RETIREMENT RESIDEN UNIT</title>
        <cusip>16141A103</cusip>
        <identifiers>
          <isin value="CA16141A1030"/>
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        <balance>9889.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Endesa, Sociedad Anonima</name>
        <lei>549300LHK07F2CHV4X31</lei>
        <title>ENDESA SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ES0130670112"/>
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        <balance>2020.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SPI 200 FUTURES   DEC19 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="YAPZ9"/>
        </identifiers>
        <balance>15.00000000</balance>
        <units>NC</units>
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        <assetCat>DE</assetCat>
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        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>SPI 200 Future Dec 2019</indexName>
                <indexIdentifier>N/A</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
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            <expDate>2019-12-22</expDate>
            <notionalAmt>1679344.08000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>The Travelers Companies, Inc.</name>
        <lei>549300Y650407RU8B149</lei>
        <title>TRAVELERS COS INC/THE COMMON STOCK</title>
        <cusip>89417E109</cusip>
        <identifiers>
          <isin value="US89417E1091"/>
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        <balance>770.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>100916.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>PUBLIC STORAGE</name>
        <lei>549300LMZF40TKJ6DM64</lei>
        <title>PUBLIC STORAGE REIT</title>
        <cusip>74460D109</cusip>
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          <isin value="US74460D1090"/>
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        <balance>451.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>100509.86000000</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AFTERPAY TOUCH GROUP LIMITED</name>
        <lei>529900P6ROPAX0QTB720</lei>
        <title>AFTERPAY TOUCH GROUP LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
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          <isin value="AU000000APT1"/>
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        <balance>-1030.00000000</balance>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Canada Goose Holdings Inc.</name>
        <lei>529900891XBE6RV8JR07</lei>
        <title>CANADA GOOSE HOLDINGS INC COMMON STOCK</title>
        <cusip>135086106</cusip>
        <identifiers>
          <isin value="CA1350861060"/>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
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        <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>NEWMONT GOLDCORP CORPORATION</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>NEWMONT GOLDCORP CORP COMMON STOCK</title>
        <cusip>651639106</cusip>
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          <isin value="US6516391066"/>
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        <curCd>USD</curCd>
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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>United States of America</name>
        <lei>N/A</lei>
        <title>US ULTRA BOND CBT DEC19 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="AULZ9"/>
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        <balance>1.00000000</balance>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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                <issuerName>U.S. Treasury Futures</issuerName>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>90-DAY BANK BILL  Sep20 Financial commodity future.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="YBAU0"/>
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        <balance>36.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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                <issuerName>Interest Rate Futures</issuerName>
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      <invstOrSec>
        <name>APA Group</name>
        <lei>549300T9RBSX164T8H40</lei>
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        <assetCat>EC</assetCat>
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        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KELLOGG COMPANY</name>
        <lei>LONOZNOJYIBXOHXWDB86</lei>
        <title>KELLOGG CO COMMON STOCK</title>
        <cusip>487836108</cusip>
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          <isin value="US4878361082"/>
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        <balance>1060.00000000</balance>
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        <curCd>USD</curCd>
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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>METHANEX CORPORATION</name>
        <lei>549300TSJHRXT9QXRD13</lei>
        <title>METHANEX CORP COMMON STOCK</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>PRYSMIAN S.P.A.</name>
        <lei>529900X0H1IO3RS1A464</lei>
        <title>PRYSMIAN SPA COMMON STOCK</title>
        <cusip>N/A</cusip>
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          <isin value="IT0004176001"/>
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        <balance>-2800.00000000</balance>
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        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <ticker value="MPZ9"/>
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        <balance>20.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>516800.00000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Currency Futures</issuerName>
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                  <ticker value="MQZ9"/>
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              </otherRefInst>
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            <expDate>2019-12-19</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Bundesrepublik Deutschland</name>
        <lei>N/A</lei>
        <title>EURO-BOBL FUTURE  DEC19 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FGBMZ9"/>
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        <balance>17.00000000</balance>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Germany Govt. Bond Futures</issuerName>
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                  <isin value="DE0001102366"/>
                  <ticker value="FGBMZ9"/>
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            <expDate>2019-12-09</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MERCK Kommanditgesellschaft auf Aktien</name>
        <lei>529900OAREIS0MOPTW25</lei>
        <title>MERCK KGAA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0006599905"/>
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        <balance>489.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</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>INTERCONTINENTAL EXCHANGE, INC.</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>INTERCONTINENTAL EXCHANGE IN COMMON STOCK</title>
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          <isin value="US45866F1049"/>
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        <balance>725.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>68382.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>AUTOZONE, INC.</name>
        <lei>GA3JGKJ41LJKXDN23E90</lei>
        <title>AUTOZONE INC COMMON STOCK</title>
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          <isin value="US0533321024"/>
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        <balance>99.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>113293.62000000</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Beiersdorf Aktiengesellschaft</name>
        <lei>L47NHHI0Z9X22DV46U41</lei>
        <title>BEIERSDORF AG COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0005200000"/>
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        <balance>449.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Deutsche Boerse Aktiengesellschaft</name>
        <lei>529900G3SW56SHYNPR95</lei>
        <title>DEUTSCHE BOERSE AG COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0005810055"/>
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        <balance>262.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Domino's Pizza Enterprises Ltd</name>
        <lei>54930034RFI409JZ3179</lei>
        <title>DOMINO'S PIZZA ENTERPRISES L COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000DMP0"/>
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        <balance>1341.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BANK ACCEPT FUTR  DEC20 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BAXZ0"/>
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        <balance>25.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>4662231.49000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DO</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Interest Rate Futures</issuerName>
                <issueTitle>Bank Acceptance Future Dec 2020</issueTitle>
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                  <ticker value="BAXZ0"/>
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            <expDate>2020-12-17</expDate>
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        <securityLending>
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      <invstOrSec>
        <name>Wolters Kluwer N.V.</name>
        <lei>724500TEM53I0U077B74</lei>
        <title>WOLTERS KLUWER COMMON STOCK</title>
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        <identifiers>
          <isin value="NL0000395903"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SUNCORP GROUP LIMITED</name>
        <lei>549300BVOKRTHDIWVT46</lei>
        <title>SUNCORP GROUP LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000SUN6"/>
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        <balance>3355.14400000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
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        <pctVal>0.060107344997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>U.S. DOLLARS</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="FX Forwards" value="CCTUSD__00007802"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-28457.73000000</valUSD>
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        <assetCat>DFE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>MORGAN STANLEY SMITH BARNEY LLC</counterpartyName>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>KIRKLAND LAKE GOLD LTD.</name>
        <lei>529900G32H6145TBDT30</lei>
        <title>KIRKLAND LAKE GOLD LTD COMMON STOCK</title>
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          <isin value="CA49741E1007"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>S&amp;P500 EMINI FUT  DEC19 PHYSICAL INDEX FUTURE.</title>
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        <identifiers>
          <ticker value="SPZ9"/>
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        <balance>-31.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-4705490.00000000</valUSD>
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        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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              <indexBasketInfo>
                <indexName>S&amp;P 500 Future Dec 2019</indexName>
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            <expDate>2019-12-23</expDate>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CBOE VIX FUTURE   DEC19 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="VXZ9"/>
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        <balance>-74.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1237650.00000000</valUSD>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>CBOE VIX FUTURE Dec 2019</indexName>
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                <narrativeDesc>N/A</narrativeDesc>
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            <expDate>2019-12-21</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BlackBerry Limited</name>
        <lei>549300HJD8NEGT71RF07</lei>
        <title>BLACKBERRY LTD COMMON STOCK</title>
        <cusip>09228F103</cusip>
        <identifiers>
          <isin value="CA09228F1036"/>
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        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>AUDUSD CRNCY FUT  DEC19 CURRENCY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="ADZ9"/>
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        <balance>-55.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3792800.00000000</valUSD>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <otherRefInst>
                <issuerName>Currency Futures</issuerName>
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                  <ticker value="ADZ9"/>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>THE HERSHEY COMPANY</name>
        <lei>21X2CX66SU2BR6QTAD08</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>VIRGIN MONEY UK PLC</name>
        <lei>213800ZK9VGCYYR6O495</lei>
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          <isin value="AU000000CYB7"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Qiagen N.V.</name>
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          <isin value="NL0012169213"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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          <ticker value="STXEZ9"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Akzo Nobel N.V.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>BlackRock Liquidity Funds: T-Fund; Institutional Shares</name>
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          <isin value="US09248U7182"/>
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        <assetCat>STIV</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>U.S. DOLLARS</name>
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          <other otherDesc="FX Forwards" value="CCTUSD__00007801"/>
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        <name>FLETCHER BUILDING LIMITED</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Evergy, Inc.</name>
        <lei>549300PGTHDQY6PSUI61</lei>
        <title>EVERGY INC COMMON STOCK</title>
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        <name>BRP Inc.</name>
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        <name>QBE INSURANCE GROUP LIMITED</name>
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        <title>QBE INSURANCE GROUP LTD COMMON STOCK</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>GREAT-WEST LIFECO INC.</name>
        <lei>549300X81X4VZEESFU46</lei>
        <title>GREAT-WEST LIFECO INC COMMON STOCK</title>
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          <isin value="CA39138C1068"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>REPUBLIC SERVICES, INC.</name>
        <lei>NKNQHM6BLECKVOQP7O46</lei>
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        <name>Japan</name>
        <lei>N/A</lei>
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                <issuerName>Japan Govt. Bond Futures</issuerName>
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        <name>Ferrovial, S.A.</name>
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        <name>Republique Francaise</name>
        <lei>N/A</lei>
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          <ticker value="FOATZ9"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
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          <ticker value="STWX9"/>
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        <name>FLIGHT CENTRE TRAVEL GROUP LIMITED</name>
        <lei>254900BGNUI78EKEJY68</lei>
        <title>FLIGHT CENTRE TRAVEL GROUP L COMMON STOCK</title>
        <cusip>N/A</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>FAIRFAX FINANCIAL HOLDINGS LIMITED</name>
        <lei>GLS7OQD0WOEDI8YAP031</lei>
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        <valUSD>70750.89000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NIB HOLDINGS LTD</name>
        <lei>529900SPKHL951XMJC07</lei>
        <title>NIB HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000NHF0"/>
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        <balance>-7380.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>-35662.74000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Shaw Communications Inc.</name>
        <lei>549300SCT0RG6178CI40</lei>
        <title>SHAW COMMUNICATIONS INC-B COMMON STOCK</title>
        <cusip>82028K200</cusip>
        <identifiers>
          <isin value="CA82028K2002"/>
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        <balance>7036.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>143594.02000000</valUSD>
        <pctVal>0.277453452657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>AUSTRALIA 10 YEAR BOND FUTURE DEC 2019</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="YTCZ9"/>
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        <balance>158.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>15881140.22000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Australia Govt. Bond Futures</issuerName>
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                  <ticker value="XTZ9"/>
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                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2019-12-16</expDate>
            <notionalAmt>15781304.63000000</notionalAmt>
            <curCd>AUD</curCd>
            <unrealizedAppr>99835.59000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>JPN YEN CURR FUT  DEC19 CURRENCY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="JYZ9"/>
        </identifiers>
        <balance>-30.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-3480937.50000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Currency Futures</issuerName>
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                  <ticker value="2JYZ9"/>
                  <other otherDesc="Other" value="N/A"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2019-12-19</expDate>
            <notionalAmt>-3474796.15000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-6141.35000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INTER PIPELINE LTD.</name>
        <lei>QQTTPMZD0WKQL0H5S472</lei>
        <title>INTER PIPELINE LTD COMMON STOCK</title>
        <cusip>45833V109</cusip>
        <identifiers>
          <isin value="CA45833V1094"/>
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        <balance>8684.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>145777.27000000</valUSD>
        <pctVal>0.281671944838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>TOPIX INDX FUTR   DEC19 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="JTIZ9"/>
        </identifiers>
        <balance>-8.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="107.99000000"/>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>TOPIX INDX FUTR Dec 2019</indexName>
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                <narrativeDesc>N/A</narrativeDesc>
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            <expDate>2019-12-15</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COGECO COMMUNICATIONS INC.</name>
        <lei>549300XHH6LJM6IAXV57</lei>
        <title>COGECO COMMUNICATIONS INC COMMON STOCK</title>
        <cusip>19239C106</cusip>
        <identifiers>
          <isin value="CA19239C1068"/>
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        <balance>1187.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>102604.17000000</valUSD>
        <pctVal>0.198252554135</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>90DAY STERLING FU DEC20 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FSSZ0"/>
        </identifiers>
        <balance>34.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77199000"/>
        <valUSD>5468918.02000000</valUSD>
        <pctVal>10.56708480584</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Interest Rate Futures</issuerName>
                <issueTitle>90 Day Sterling Future Dec 2020</issueTitle>
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                  <ticker value="LZ0"/>
                  <other otherDesc="Other" value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2020-12-19</expDate>
            <notionalAmt>5329815.17000000</notionalAmt>
            <curCd>GBP</curCd>
            <unrealizedAppr>139102.85000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MINES AGNICO EAGLE LIMITEE</name>
        <lei>YGE0EUBRF7IJOB3QRX76</lei>
        <title>AGNICO EAGLE MINES LTD COMMON STOCK</title>
        <cusip>008474108</cusip>
        <identifiers>
          <isin value="CA0084741085"/>
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        <balance>2801.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>172151.66000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Red Electrica Corporacion, S.A.</name>
        <lei>5493009HMD0C90GUV498</lei>
        <title>RED ELECTRICA CORPORACION SA Common Stock</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="ES0173093024"/>
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        <balance>2607.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>52481.93000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TPG TELECOM LIMITED</name>
        <lei>N/A</lei>
        <title>TPG TELECOM LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000TPM6"/>
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        <balance>8807.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>39705.08000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</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>Fortis Inc.</name>
        <lei>549300MQYQ9Y065XPR71</lei>
        <title>FORTIS INC COMMON STOCK</title>
        <cusip>349553107</cusip>
        <identifiers>
          <isin value="CA3495531079"/>
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        <balance>3620.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>United States of America</name>
        <lei>N/A</lei>
        <title>US 2YR NOTE (CBT) DEC19 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="1TUZ9"/>
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        <balance>3.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>646804.69000000</valUSD>
        <pctVal>1.249760919262</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>U.S. Treasury Futures</issuerName>
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                  <isin value="US9128285A44"/>
                  <ticker value="ZTZ9"/>
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            </descRefInstrmnt>
            <expDate>2020-01-03</expDate>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ONEX CORPORATION</name>
        <lei>894500LB8PNE5C7CEN88</lei>
        <title>ONEX CORPORATION COMMON STOCK</title>
        <cusip>68272K103</cusip>
        <identifiers>
          <isin value="CA68272K1030"/>
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        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>90DAY STERLING FU JUN21 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FSSM1"/>
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        <balance>34.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="GBP" exchangeRt="0.77199000"/>
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        <assetCat>DO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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              <otherRefInst>
                <issuerName>Interest Rate Futures</issuerName>
                <issueTitle>90 Day Sterling Future Jun 2021</issueTitle>
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                  <ticker value="LM21"/>
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            <expDate>2021-06-19</expDate>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Vicinity Centres</name>
        <lei>N/A</lei>
        <title>VICINITY CENTRES REIT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000VCX7"/>
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        <balance>13821.00000000</balance>
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        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</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>WEC ENERGY GROUP, INC.</name>
        <lei>549300IGLYTZUK3PVP70</lei>
        <title>WEC ENERGY GROUP INC COMMON STOCK</title>
        <cusip>92939U106</cusip>
        <identifiers>
          <isin value="US92939U1060"/>
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        <balance>700.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>HYDRO ONE LIMITED</name>
        <lei>5493007QZDXTP1W2VL44</lei>
        <title>HYDRO ONE LTD COMMON STOCK</title>
        <cusip>448811208</cusip>
        <identifiers>
          <isin value="CA4488112083"/>
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        <balance>6560.00000000</balance>
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        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>121975.86000000</valUSD>
        <pctVal>0.235682680225</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY CORPORATION</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>DUKE ENERGY CORP COMMON STOCK</title>
        <cusip>26441C204</cusip>
        <identifiers>
          <isin value="US26441C2044"/>
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        <balance>1165.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>109812.90000000</valUSD>
        <pctVal>0.212181316822</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>ArcelorMittal S.A.</name>
        <lei>2EULGUTUI56JI9SAL165</lei>
        <title>ARCELORMITTAL COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="LU1598757687"/>
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        <balance>-2910.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>-42938.26000000</valUSD>
        <pctVal>-0.08296563107</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UNICREDIT, SOCIETA PER AZIONI</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UNICREDIT SPA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="IT0005239360"/>
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        <balance>-5840.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>-74043.76000000</valUSD>
        <pctVal>-0.14306791369</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>90 DAY EURO DOLLAR FUTURE (CME) JUN 2021</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="EDM1"/>
        </identifiers>
        <balance>22.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>5424375.00000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DIR</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Interest Rate Futures</issuerName>
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                  <ticker value="EVM21"/>
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            </descRefInstrmnt>
            <expDate>2021-06-14</expDate>
            <notionalAmt>5411657.54000000</notionalAmt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TELEPERFORMANCE SE</name>
        <lei>9695004GI61FHFFNRG61</lei>
        <title>TELEPERFORMANCE COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000051807"/>
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        <balance>324.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>73427.76000000</valUSD>
        <pctVal>0.141877673826</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>RIOCAN REAL ESTATE INVESTMENT TRUST</name>
        <lei>549300S8HVUSEU3JBY60</lei>
        <title>RIOCAN REAL ESTATE INVST TR REIT</title>
        <cusip>766910103</cusip>
        <identifiers>
          <isin value="CA7669101031"/>
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        <balance>7160.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>143678.38000000</valUSD>
        <pctVal>0.277616453688</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Mylan N.V.</name>
        <lei>549300A0CD4KNFGIIS89</lei>
        <title>MYLAN NV COMMON STOCK</title>
        <cusip>N59465109</cusip>
        <identifiers>
          <isin value="NL0011031208"/>
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        <balance>-2790.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-53428.50000000</valUSD>
        <pctVal>-0.10323495223</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BEACH ENERGY LIMITED</name>
        <lei>8Q9PJD25OKTQT5FHUF40</lei>
        <title>BEACH ENERGY LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000BPT9"/>
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        <balance>-16630.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>-26252.34000000</valUSD>
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        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CARREFOUR S.A.</name>
        <lei>549300B8P6MUJ1YWTS08</lei>
        <title>CARREFOUR SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000120172"/>
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        <balance>2805.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>47723.99000000</valUSD>
        <pctVal>0.092212654817</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>NIKKEI 225  (OSE) DEC19 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="JNIZ9"/>
        </identifiers>
        <balance>4.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="JPY" exchangeRt="107.99000000"/>
        <valUSD>850078.72000000</valUSD>
        <pctVal>1.642528539105</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>NIKKEI 225  (OSE) Dec 2019</indexName>
                <indexIdentifier>N/A</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
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            </descRefInstrmnt>
            <expDate>2019-12-15</expDate>
            <notionalAmt>820446.70000000</notionalAmt>
            <curCd>JPY</curCd>
            <unrealizedAppr>29632.02000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLCARE HEALTH PLANS, INC.</name>
        <lei>529900JCT1MMTWHZ5P23</lei>
        <title>WELLCARE HEALTH PLANS INC COMMON STOCK</title>
        <cusip>94946T106</cusip>
        <identifiers>
          <isin value="US94946T1060"/>
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        <balance>340.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>100844.00000000</valUSD>
        <pctVal>0.194851540334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BlackRock Liquidity Funds: T-Fund; Institutional Shares</name>
        <lei>N/A</lei>
        <title>BLACKROCK LIQUIDITY FUNDS T-FUND PORTFOLIO</title>
        <cusip>09248U718</cusip>
        <identifiers>
          <isin value="US09248U7182"/>
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        <balance>2685897.63000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2685897.63000000</valUSD>
        <pctVal>5.189711736804</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>INSURANCE AUSTRALIA GROUP LIMITED</name>
        <lei>549300PFEWKNHRG25N08</lei>
        <title>INSURANCE AUSTRALIA GROUP COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000IAG3"/>
        </identifiers>
        <balance>5824.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>31877.35000000</valUSD>
        <pctVal>0.061593657027</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>DJIA MINI E-CBOT  DEC19 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="1YMZ9"/>
        </identifiers>
        <balance>2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>269820.00000000</valUSD>
        <pctVal>0.521348246926</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>DJIA MINI e-CBOT Dec 2019</indexName>
                <indexIdentifier>N/A</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
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            <expDate>2019-12-23</expDate>
            <notionalAmt>269443.80000000</notionalAmt>
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            <unrealizedAppr>376.20000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Wheaton Precious Metals Corp.</name>
        <lei>549300XSFG5ZCGVYD886</lei>
        <title>WHEATON PRECIOUS METALS CORP COMMON STOCK</title>
        <cusip>962879102</cusip>
        <identifiers>
          <isin value="CA9628791027"/>
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        <balance>4942.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
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        <pctVal>0.267669854874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>
      <invstOrSec>
        <name>THE GPT GROUP</name>
        <lei>N/A</lei>
        <title>GPT GROUP REIT</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000GPT8"/>
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        <balance>5650.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>23174.25000000</valUSD>
        <pctVal>0.044777461312</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BRAMBLES LIMITED</name>
        <lei>N/A</lei>
        <title>BRAMBLES LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000BXB1"/>
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        <balance>3165.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>26116.09000000</valUSD>
        <pctVal>0.050461706834</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AUTOMATIC DATA PROCESSING, INC.</name>
        <lei>HGBOLILQXWER4SAL2I23</lei>
        <title>AUTOMATIC DATA PROCESSING COMMON STOCK</title>
        <cusip>053015103</cusip>
        <identifiers>
          <isin value="US0530151036"/>
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        <balance>696.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>112912.08000000</valUSD>
        <pctVal>0.218169575883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <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>N/A</name>
        <lei>N/A</lei>
        <title>DAX INDEX FUTURE  DEC19 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="FDXZ9"/>
        </identifiers>
        <balance>4.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>1438011.64000000</valUSD>
        <pctVal>2.778536978629</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>DAX INDEX FUTURE Dec 2019</indexName>
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                <narrativeDesc>N/A</narrativeDesc>
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            </descRefInstrmnt>
            <expDate>2019-12-23</expDate>
            <notionalAmt>1405612.21000000</notionalAmt>
            <curCd>EUR</curCd>
            <unrealizedAppr>32399.43000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>S&amp;P MID 400 EMINI DEC19 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
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          <ticker value="1ES3W3085K9"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Stantec Inc.</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Algonquin Power &amp; Utilities Corp.</name>
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          <isin value="CA0158571053"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Aena SME, S.A.</name>
        <lei>959800R7QMXKF0NFMT29</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>PAYCHEX, INC.</name>
        <lei>529900K900DW6SUBM174</lei>
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          <isin value="US7043261079"/>
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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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        <name>Franco-Nevada Corporation</name>
        <lei>N/A</lei>
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          <isin value="CA3518581051"/>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>BANK ACCEPT FUTR  Mar21 Financial commodity future.</title>
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          <ticker value="BAXH1"/>
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        <units>NC</units>
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        <isRestrictedSec>N</isRestrictedSec>

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                <issuerName>Interest Rate Futures</issuerName>
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      <invstOrSec>
        <name>PALO ALTO NETWORKS, INC.</name>
        <lei>549300QXR2YVZV231H43</lei>
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      <invstOrSec>
        <name>United States of America</name>
        <lei>N/A</lei>
        <title>US 10YR NOTE (CBT)DEC19 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
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          <ticker value="TYZ9"/>
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        <units>NC</units>
        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

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                <issuerName>U.S. Treasury Futures</issuerName>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>S&amp;P/TSX 60 IX FUT DEC19 PHYSICAL INDEX FUTURE.</title>
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          <ticker value="SXFZ9"/>
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        <name>N/A</name>
        <lei>N/A</lei>
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          <ticker value="1TY1295X9"/>
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                <issuerName>N/A</issuerName>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>S&amp;P Emini 3rd Wk  Nov19P  2820 SHORT</title>
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          <ticker value="1ES3W2820W9"/>
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      </invstOrSec>
      <invstOrSec>
        <name>DARDEN RESTAURANTS, INC.</name>
        <lei>CY1NFSCCB5GUXC7WZC70</lei>
        <title>DARDEN RESTAURANTS INC COMMON STOCK</title>
        <cusip>237194105</cusip>
        <identifiers>
          <isin value="US2371941053"/>
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        <balance>565.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>FTSE/MIB IDX FUT  DEC19 PHYSICAL INDEX FUTURE.</title>
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        <identifiers>
          <ticker value="IFSZ9"/>
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        <balance>-6.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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            <payOffProf>Short</payOffProf>
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              <indexBasketInfo>
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      </invstOrSec>
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        <name>N/A</name>
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          <ticker value="NEZ9"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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                <issuerName>Currency Futures</issuerName>
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        <name>Naturgy Energy Group, S.A.</name>
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          <isin value="ES0116870314"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Vonovia SE</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>N/A</name>
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        <identifiers>
          <ticker value="FFIZ9"/>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>ORICA LIMITED</name>
        <lei>N/A</lei>
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          <isin value="AU000000ORI1"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>STELLA-JONES INC.</name>
        <lei>N/A</lei>
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          <isin value="CA85853F1053"/>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="NQZ9"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
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        <assetCat>DE</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <futrDeriv derivCat="FUT">
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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            <payOffProf>Long</payOffProf>
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                <indexName>NASDAQ 100 E-MINI Dec 2019</indexName>
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            <expDate>2019-12-23</expDate>
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      <invstOrSec>
        <name>Lundin Mining Corporation</name>
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        <title>LUNDIN MINING CORP COMMON STOCK</title>
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          <isin value="CA5503721063"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chubb Limited</name>
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        <title>CHUBB LTD COMMON STOCK</title>
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          <isin value="CH0044328745"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>NORWEGIAN KRONE   DEC19 CURRENCY FUTURE.</title>
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          <ticker value="NOKAZ9"/>
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        <units>NC</units>
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        <issuerConditional desc="N/A" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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                <issuerName>Currency Futures</issuerName>
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        <name>N/A</name>
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          <ticker value="YTTZ9"/>
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                <issuerName>Australia Govt. Bond Futures</issuerName>
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      <invstOrSec>
        <name>BlackRock Liquidity Funds: T-Fund; Institutional Shares</name>
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        <title>BLACKROCK LIQUIDITY FUNDS T-FUND PORTFOLIO</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
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        <title>US 10YR FUT OPTN  Dec19C 130.5 SHORT</title>
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                <issuerName>N/A</issuerName>
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        <name>DOLLAR TREE, INC.</name>
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        <name>Abacus Property Group</name>
        <lei>2138009R3Y4TK4IZDW59</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Enerplus Corporation</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>GROWTHPOINT PROPERTIES AUSTRALIA LIMITED</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ALIGN TECHNOLOGY, INC.</name>
        <lei>549300N5YSE0U3LCP840</lei>
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        <curCd>USD</curCd>
        <valUSD>-80732.80000000</valUSD>
        <pctVal>-0.15599252742</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Husky Energy Inc.</name>
        <lei>5493001LRMU2TM8ZZZ78</lei>
        <title>HUSKY ENERGY INC COMMON STOCK</title>
        <cusip>448055103</cusip>
        <identifiers>
          <isin value="CA4480551031"/>
        </identifiers>
        <balance>-13800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>-96393.59000000</valUSD>
        <pctVal>-0.18625242443</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</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>TSI2PJM6EPETEQ4X1U25</lei>
        <title>INFINEON TECHNOLOGIES AG COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE0006231004"/>
        </identifiers>
        <balance>-3270.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>-63378.09000000</valUSD>
        <pctVal>-0.12245962536</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THALES SA</name>
        <lei>529900FNDVTQJOVVPZ19</lei>
        <title>THALES SA COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000121329"/>
        </identifiers>
        <balance>457.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>44669.40000000</valUSD>
        <pctVal>0.086310552891</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HARVEY NORMAN HOLDINGS LTD</name>
        <lei>529900ONRWOF42PYKU59</lei>
        <title>HARVEY NORMAN HOLDINGS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000HVN7"/>
        </identifiers>
        <balance>10746.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>30297.76000000</valUSD>
        <pctVal>0.058541561269</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ADIDAS AG</name>
        <lei>549300JSX0Z4CW0V5023</lei>
        <title>ADIDAS AG COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="DE000A1EWWW0"/>
        </identifiers>
        <balance>216.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>66694.47000000</valUSD>
        <pctVal>0.128867559907</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pro Medicus Ltd</name>
        <lei>N/A</lei>
        <title>PRO MEDICUS LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000PME8"/>
        </identifiers>
        <balance>-1490.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>-27383.36000000</valUSD>
        <pctVal>-0.05291033552</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>HERMES INTERNATIONAL S.C.A.</name>
        <lei>969500Y4IJGHJE2MTJ13</lei>
        <title>HERMES INTERNATIONAL COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="FR0000052292"/>
        </identifiers>
        <balance>90.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>64743.15000000</valUSD>
        <pctVal>0.125097204629</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>HANG SENG IDX FUT NOV19 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="HSIX9"/>
        </identifiers>
        <balance>-9.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="HKD" exchangeRt="7.83595000"/>
        <valUSD>-1549627.04000000</valUSD>
        <pctVal>-2.99420109959</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>HANG SENG IDX FUT Nov 2019</indexName>
                <indexIdentifier>N/A</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2019-12-01</expDate>
            <notionalAmt>-1539117.48000000</notionalAmt>
            <curCd>HKD</curCd>
            <unrealizedAppr>-10509.56000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>NIKKEI 225  (CME) DEC19 PHYSICAL INDEX FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="NKZ9"/>
        </identifiers>
        <balance>2.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>227300.00000000</valUSD>
        <pctVal>0.439190780988</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <indexBasketInfo>
                <indexName>NIKKEI 225  (CME) Dec 2019</indexName>
                <indexIdentifier>N/A</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2019-12-15</expDate>
            <notionalAmt>223856.04000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>3443.96000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United States of America</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>TREASURY BILL 0.000000% 02/20/2020</title>
        <cusip>912796TG4</cusip>
        <identifiers>
          <isin value="US912796TG47"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>796287.05000000</valUSD>
        <pctVal>1.538591867051</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-02-20</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</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>FISHER &amp; PAYKEL HEALTHCARE CORPORATION LIMITED</name>
        <lei>N/A</lei>
        <title>FISHER &amp; PAYKEL HEALTHCARE C COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NZFAPE0001S2"/>
        </identifiers>
        <balance>2580.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>31622.18000000</valUSD>
        <pctVal>0.061100615621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>NZ</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>COCA-COLA EUROPEAN PARTNERS PLC</name>
        <lei>549300LTH67W4GWMRF57</lei>
        <title>COCA-COLA EUROPEAN PARTNERS COMMON STOCK</title>
        <cusip>G25839104</cusip>
        <identifiers>
          <isin value="GB00BDCPN049"/>
        </identifiers>
        <balance>826.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44199.26000000</valUSD>
        <pctVal>0.085402144824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STMicroelectronics N.V.</name>
        <lei>213800Z8NOHIKRI42W10</lei>
        <title>STMICROELECTRONICS NV COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="NL0000226223"/>
        </identifiers>
        <balance>-2650.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.89662000"/>
        <valUSD>-60115.77000000</valUSD>
        <pctVal>-0.11615614595</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>CHF CURRENCY FUT  DEC19 CURRENCY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="SFZ9"/>
        </identifiers>
        <balance>-85.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-10799250.00000000</valUSD>
        <pctVal>-20.8663926158</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Short</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Currency Futures</issuerName>
                <issueTitle>CHF/USD Future (Consolidated) (IMM) Dec 2019</issueTitle>
                <identifiers>
                  <ticker value="SQZ9"/>
                  <other otherDesc="Other" value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2019-12-19</expDate>
            <notionalAmt>-10748406.80000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-50843.20000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAUSCH HEALTH COMPANIES INC.</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>BAUSCH HEALTH COS INC COMMON STOCK</title>
        <cusip>071734107</cusip>
        <identifiers>
          <isin value="CA0717341071"/>
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        <balance>-4070.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>-101170.60000000</valUSD>
        <pctVal>-0.19548259932</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ENCANA CORPORATION</name>
        <lei>CZ72ZHBVKZXQRV3XFE26</lei>
        <title>ENCANA CORP COMMON STOCK</title>
        <cusip>292505104</cusip>
        <identifiers>
          <isin value="CA2925051047"/>
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        <balance>-13010.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>-50969.25000000</valUSD>
        <pctVal>-0.09848317076</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EVOLUTION MINING LIMITED</name>
        <lei>254900BCFW5QO5LW8F27</lei>
        <title>EVOLUTION MINING LTD COMMON STOCK</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="AU000000EVN4"/>
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        <balance>12032.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="AUD" exchangeRt="1.45064000"/>
        <valUSD>34255.34000000</valUSD>
        <pctVal>0.066188427310</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BANK ACCEPT FUTR  SEP21 FINANCIAL COMMODITY FUTURE.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="BAXU1"/>
        </identifiers>
        <balance>24.00000000</balance>
        <units>NC</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>4476653.26000000</valUSD>
        <pctVal>8.649823323692</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DO</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>Interest Rate Futures</issuerName>
                <issueTitle>Bank Acceptance Future Sep 2021</issueTitle>
                <identifiers>
                  <ticker value="BAXU21"/>
                  <other otherDesc="Other" value="N/A"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2021-09-16</expDate>
            <notionalAmt>4450416.42000000</notionalAmt>
            <curCd>CAD</curCd>
            <unrealizedAppr>26236.84000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PARKLAND FUEL CORPORATION</name>
        <lei>549300Q72GWZCL8MQC95</lei>
        <title>PARKLAND FUEL CORP COMMON STOCK</title>
        <cusip>70137T105</cusip>
        <identifiers>
          <isin value="CA70137T1057"/>
        </identifiers>
        <balance>2726.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.31710000"/>
        <valUSD>90549.31000000</valUSD>
        <pctVal>0.174960062370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SAPUTO INC.</name>
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          <isin value="CA8029121057"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Magellan Financial Group Ltd</name>
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          <isin value="AU000000MFG4"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TMX Group Limited</name>
        <lei>549300N65GFVKSHGJW59</lei>
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          <isin value="CA87262K1057"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASX LIMITED</name>
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          <isin value="AU000000ASX7"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>N/A</name>
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        <title>VSTOXX FUTURE     DEC19 PHYSICAL INDEX FUTURE.</title>
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          <ticker value="FVSZ9"/>
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        <isRestrictedSec>N</isRestrictedSec>

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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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        <name>Canada</name>
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          <ticker value="CGBZ9"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>MORGAN STANLEY &amp; CO, INC</counterpartyName>
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                <issuerName>Canada Govt. Bond Futures</issuerName>
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        <name>METRO INC.</name>
        <lei>549300KQ7DCG4IXSNW78</lei>
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          <isin value="CA59162N1096"/>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>N/A</name>
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        <title>S&amp;P Emini 3rd Wk  Nov19C  3055 SHORT</title>
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        <name>O'Reilly Automotive, Inc.</name>
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        <name>CIMIC GROUP LIMITED</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>U.S. DOLLARS</name>
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        <name>N/A</name>
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        <title>90DAY EUR$ FUTR SEP21</title>
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          <ticker value="EDU1"/>
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                <issuerName>Interest Rate Futures</issuerName>
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        <name>BROADRIDGE FINANCIAL SOLUTIONS, INC.</name>
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        <name>N/A</name>
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        <title>C$ CURRENCY FUT   DEC19 CURRENCY FUTURE.</title>
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          <ticker value="CDZ9"/>
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                <issuerName>Currency Futures</issuerName>
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        <name>United States of America</name>
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          <ticker value="USZ9"/>
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        <name>E.ON SE</name>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>SGX NIFTY 50      NOV19 PHYSICAL INDEX FUTURE.</title>
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          <ticker value="SINX9"/>
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              <indexBasketInfo>
                <indexName>SGX CNX NIFTY ETS Nov 2019</indexName>
                <indexIdentifier>N/A</indexIdentifier>
                <narrativeDesc>N/A</narrativeDesc>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2019-12-01</expDate>
            <notionalAmt>-726377.30000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-13127.70000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2019-10-31</ncom:dateSigned>
      <ncom:nameOfApplicant>THE ADVISORS' INNER CIRCLE III</ncom:nameOfApplicant>
      <ncom:signature>Stephen Connors</ncom:signature>
      <ncom:signerName>Stephen Connors</ncom:signerName>
      <ncom:title>CFO</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
