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        <name>CITIGROUP GLOBAL MARKETS INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BHP Group Ltd</name>
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        <name>Tyson Foods Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MIZUHO BANK LIMITED NEW YORK</name>
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        <name>National Westminster Bank PLC</name>
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        <name>CF Industries Holdings Inc</name>
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        <name>First Quantum Minerals Ltd</name>
        <lei>549300I7UVBGWRYMYZ18</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MMC Norilsk Nickel PJSC</name>
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        <invCountry>RU</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>SUMITOMO BK NY</name>
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        <name>Kirby Corp</name>
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        <name>Mitsubishi UFJ Trust &amp; Bank Co</name>
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        <name>CREDIT SUISSE NY</name>
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        <invCountry>US</invCountry>
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        <name>SUMITOMO MITSUI TRUST BANK LTD, LDN</name>
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        <name>Barrick Gold Corp</name>
        <lei>0O4KBQCJZX82UKGCBV73</lei>
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        <name>CREDIT INDUSRIAL ET COMM, LONDON</name>
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        <name>CITIGROUP GLOBAL MARKETS LTD</name>
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        <name>SOCIETE GENERALE</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SOCIETE GENERALE</title>
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        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
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        <name>FIDELITY INST GOVT LEX</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Kinross Gold Corp</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BANK OF NOVA SCOTIA HOUSTON</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>NBC GLOBAL FINANCE LIMITED</name>
        <lei>549300KWU8YQOYSK5Y64</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Solaris Oilfield Infrastructure Inc</name>
        <lei>529900MTK3C8Y8TIIC10</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Newmont Corp</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AGRIC BK OF CHINA LTD - NY BRANCH</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>WPX Energy Inc</name>
        <lei>ZXZE9GCS2BB547GJW219</lei>
        <title>WPX Energy Inc</title>
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          <isin value="US98212B1035"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SKANDI NY</name>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-07-01</maturityDt>
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      <invstOrSec>
        <name>Freeport-McMoRan Inc</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan Inc</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GOLDMAN SACHS BANK USA</name>
        <lei>N/A</lei>
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        <balance>2493950.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC US GOVT FUND LEX</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SUMITOMO BK NY</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>TFDXX LEX BLACKROCK FED FUND</name>
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        <name>DEUTSCHE BANK AG, LONDON BRANCH</name>
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      <invstOrSec>
        <name>CIBC NY</name>
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        <title>CIBC NY</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Valero Energy Corp</name>
        <lei>549300XTO5VR8SKV1V74</lei>
        <title>Valero Energy Corp</title>
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        <balance>423800.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Anglo American PLC</name>
        <lei>549300S9XF92D1X8ME43</lei>
        <title>Anglo American PLC</title>
        <cusip>000000000</cusip>
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        <balance>1150100.00000000</balance>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cimarex Energy Co</name>
        <lei>11KYOFXPU1C4CQL1CL44</lei>
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        <curCd>USD</curCd>
        <valUSD>3614935.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NATIONAL BANK OF CANADA</name>
        <lei>254900F2ES7T4LUTQL51</lei>
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        <curCd>USD</curCd>
        <valUSD>4300000.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="254900F2ES7T4LUTQL51" name="NATIONAL BANK OF CANADA"/>
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              <collateralVal>4513964.34000000</collateralVal>
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              <invstCat>EQT</invstCat>
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      <invstOrSec>
        <name>WELLS FARGO BANK SAN FRANCISCO N.A.</name>
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          <other otherDesc="Internal Identifier" value="190820028_SLCOLLCASH"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
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      <invstOrSec>
        <name>STANDARD CHARTERED NY</name>
        <lei>N/A</lei>
        <title>STANDARD CHARTERED NY</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal Identifier" value="200226004_SLCOLLCASH"/>
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        <balance>2998293.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2998293.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-08-26</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>CITIGROUP GLOBAL MARKETS INC</name>
        <lei>MBNUM2BPBDO7JBLYG310</lei>
        <title>CITIGROUP GLOBAL MARKETS INC</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal Identifier" value="200608003_SLCOLLCASH"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5000000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="MBNUM2BPBDO7JBLYG310" name="CITIGROUP GLOBAL MARKETS INC"/>
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          <isTriParty>Y</isTriParty>
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          <maturityDt>2020-08-04</maturityDt>
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            <repurchaseCollateral>
              <principalAmt>229581.30000000</principalAmt>
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              <collateralVal>4810360.93000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>EQT</invstCat>
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              <principalCd>USD</principalCd>
              <collateralVal>601415.48000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
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            <repurchaseCollateral>
              <principalAmt>1701.49000000</principalAmt>
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              <invstCat>ACMO</invstCat>
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        <securityLending>
          <cashCollateralCondition cashCollateralVal="5000000.00000000" isCashCollateral="Y"/>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DNB NOR BANK ASA NEW YORK</name>
        <lei>N/A</lei>
        <title>DNB NOR BANK ASA NEW YORK</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal Identifier" value="200528031_SLCOLLCASH"/>
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        <balance>4000580.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4000580.00000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-05-28</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.45000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alussa Energy Acquisition Corp</name>
        <lei>N/A</lei>
        <title>Alussa Energy Acquisition Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG0232J1278"/>
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        <balance>507100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5076071.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Concho Resources Inc</name>
        <lei>SYHS7HRDXLL4I0IQ8776</lei>
        <title>Concho Resources Inc</title>
        <cusip>20605P101</cusip>
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          <isin value="US20605P1012"/>
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        <balance>285729.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14715043.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DEUTSCHE BANK AG, LONDON BRANCH</name>
        <lei>7LTWFZYICNSX8D621K86</lei>
        <title>DEUTSCHE BANK AG, LONDON BRANCH</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal Identifier" value="200630208_SLCOLLCASH"/>
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        <balance>1200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1200000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="7LTWFZYICNSX8D621K86" name="DEUTSCHE BANK AG, LONDON BRANCH"/>
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          <isTriParty>Y</isTriParty>
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          <maturityDt>2020-07-01</maturityDt>
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            <repurchaseCollateral>
              <principalAmt>16248.00000000</principalAmt>
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              <collateralVal>13481.44000000</collateralVal>
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              <invstCat>CDS</invstCat>
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        <securityLending>
          <cashCollateralCondition cashCollateralVal="1200000.00000000" isCashCollateral="Y"/>
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      <invstOrSec>
        <name>SUMITOMO MITSUI TRUST BANK LTD, LDN</name>
        <lei>N/A</lei>
        <title>SUMITOMO MITSUI TRUST BANK LTD, LDN</title>
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          <other otherDesc="Internal Identifier" value="200213002_SLCOLLCASH"/>
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        <balance>999640.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Yara International ASA</name>
        <lei>213800WKOUWXWFJ5Z514</lei>
        <title>Yara International ASA</title>
        <cusip>000000000</cusip>
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          <isin value="NO0010208051"/>
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        <balance>125800.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SVENSKA NY</name>
        <lei>N/A</lei>
        <title>SVENSKA NY</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal Identifier" value="190723006_SLCOLLCASH"/>
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        <balance>3000306.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3000306.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-22</maturityDt>
          <couponKind>Floating</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>UNION BANK OF SWITZERLAND</name>
        <lei>N/A</lei>
        <title>UNION BANK OF SWITZERLAND</title>
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          <other otherDesc="Internal Identifier" value="200527004_SLCOLLCASH"/>
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        <balance>8000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8000000.00000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-02-26</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>SolarEdge Technologies Inc</name>
        <lei>5493000K6Y58XXPDF853</lei>
        <title>SolarEdge Technologies Inc</title>
        <cusip>83417M104</cusip>
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          <isin value="US83417M1045"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>WELLS FARGO GOVT FD LEX</name>
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        <title>WELLS FARGO GOVT FD LEX</title>
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          <other otherDesc="Internal Identifier" value="181001039_SLCOLLCASH"/>
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        <curCd>USD</curCd>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Rio Tinto PLC</name>
        <lei>213800YOEO5OQ72G2R82</lei>
        <title>Rio Tinto PLC</title>
        <cusip>767204100</cusip>
        <identifiers>
          <isin value="US7672041008"/>
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        <balance>589800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>33134964.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TORONTO DOMINION NY</name>
        <lei>N/A</lei>
        <title>TORONTO DOMINION NY</title>
        <cusip>000000000</cusip>
        <identifiers>
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        <balance>1000174.95000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1000174.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-09-08</maturityDt>
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      <invstOrSec>
        <name>CHINA CONSTRUCTION BANK CORP NY</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Chevron Corp</name>
        <lei>N/A</lei>
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      <invstOrSec>
        <name>Goldman Sachs Fin Square Govt Fd</name>
        <lei>N/A</lei>
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        <name>Dow Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kansas City Southern</name>
        <lei>5493008C12PZMWP3WY03</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BARCLAYS NEW YORK</name>
        <lei>N/A</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Neste Oyj</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Cabot Oil &amp; Gas Corp</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Nutrien Ltd</name>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Diamondback Energy Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SOCIETE GENERALE</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SOCIETE GENERALE</title>
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        <fairValLevel>2</fairValLevel>
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        <name>Royal Dutch Shell PLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>LHT LONDON</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ormat Technologies Inc</name>
        <lei>5493000TSHHWY24VHM09</lei>
        <title>Ormat Technologies Inc</title>
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        <name>INVESCO GOVT AND AGCY LEX</name>
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        <name>DuPont de Nemours Inc</name>
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        <name>SOCIETE GENERALE NEW YORK</name>
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        <name>Lundin Mining Corp</name>
        <lei>549300FQDIM6C8HTN269</lei>
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        <name>Hannon Armstrong Sustainable Infrastructure Capital Inc</name>
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        <name>CREDIT SUISSE NY</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHINA CONSTRUCTION BANK CORP NY</name>
        <lei>N/A</lei>
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        </identifiers>
        <balance>1999966.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1999966.00000000</valUSD>
        <pctVal>0.193323937919</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="1999966.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CIBC NY</name>
        <lei>N/A</lei>
        <title>CIBC NY</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="190806031_SLCOLLCASH"/>
        </identifiers>
        <balance>3000963.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3000963.00000000</valUSD>
        <pctVal>0.290083923781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.43000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="3000963.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bunge Ltd</name>
        <lei>5493007M0RIN8HY3MM77</lei>
        <title>Bunge Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BMG169621056"/>
        </identifiers>
        <balance>232400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9558612.00000000</valUSD>
        <pctVal>0.923969963929</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>STIT - STIC Prime Portfolio</name>
        <lei>549300KWKVNH33AIKS03</lei>
        <title>STIT - STIC Prime Portfolio</title>
        <cusip>825252646</cusip>
        <identifiers>
          <isin value="US8252526467"/>
        </identifiers>
        <balance>38052592.01900000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>38052592.02000000</valUSD>
        <pctVal>3.678300999785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BANK OF MONTREAL CHICAGO</name>
        <lei>N/A</lei>
        <title>BANK OF MONTREAL CHICAGO</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="190806033_SLCOLLCASH"/>
        </identifiers>
        <balance>3000369.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3000369.00000000</valUSD>
        <pctVal>0.290026505595</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-06</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>0.43000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="3000369.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-07-15</ncom:dateSigned>
      <ncom:nameOfApplicant>Brighthouse Funds Trust II</ncom:nameOfApplicant>
      <ncom:signature>Alan Otis</ncom:signature>
      <ncom:signerName>Alan Otis</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
