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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>DTE Energy Co 6.25% CNV PFD *DTP*</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE Energy Co 6.25% CNV PFD *DTP*</title>
        <cusip>233331842</cusip>
        <identifiers>
          <ticker value="DTP"/>
          <other otherDesc="Internal Identifier" value="1019286"/>
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        <balance>500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20900000.00000000</valUSD>
        <pctVal>0.596805133708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NORTHROP GRUMMAN CORP COM USD1</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>NORTHROP GRUMMAN CORP COM USD1</title>
        <cusip>666807102</cusip>
        <identifiers>
          <ticker value="NOC"/>
          <other otherDesc="Internal Identifier" value="27895"/>
        </identifiers>
        <balance>42900.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14185743.00000000</valUSD>
        <pctVal>0.405077715208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp 3.419% 12/20/28 FIXED TO FLOAT</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp 3.419% 12/20/28 FIXED TO FLOAT</title>
        <cusip>06051GHD4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="875483"/>
        </identifiers>
        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16096351.35000000</valUSD>
        <pctVal>0.459635651657</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.41900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JOHNSON &amp; JOHNSON COM USD1</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>JOHNSON &amp; JOHNSON COM USD1</title>
        <cusip>478160104</cusip>
        <identifiers>
          <ticker value="JNJ"/>
          <other otherDesc="Internal Identifier" value="726"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>37510000.00000000</valUSD>
        <pctVal>1.071108161023</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO COM USD1</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO COM USD1</title>
        <cusip>46625H100</cusip>
        <identifiers>
          <ticker value="JPM"/>
          <other otherDesc="Internal Identifier" value="344"/>
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        <balance>500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47880000.00000000</valUSD>
        <pctVal>1.367226306313</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bausch Health Cos Inc 5.50% 11/01/2025 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 5.50% 11/01/2025 144A</title>
        <cusip>91911KAN2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="675974"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10445000.00000000</valUSD>
        <pctVal>0.298259790506</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NVDA 10% ELN Issued by Wells Fargo Bank, N.A 10% ELN 8/17/2020</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
        <title>NVDA 10% ELN Issued by Wells Fargo Bank, N.A 10% ELN 8/17/2020</title>
        <cusip>95002A105</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1000701"/>
        </identifiers>
        <balance>260000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47335802.02000000</valUSD>
        <pctVal>1.351686586303</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY CORP 3.15% 08/15/2027</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>DUKE ENERGY CORP 3.15% 08/15/2027</title>
        <cusip>26441CAX3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="671748"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10675306.40000000</valUSD>
        <pctVal>0.304836251838</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.15000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>TRAVELERS COS INC STRIKE 115 EXPIRES 07/17/20 CALLS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="TRV 7 C115"/>
          <other otherDesc="Internal Identifier" value="1066870"/>
        </identifiers>
        <balance>-1000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-145000.00000000</valUSD>
        <pctVal>-0.00414051408</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Susquehanna International Group</counterpartyName>
              <counterpartyLei>549300E8QX0ZMRDC2M81</counterpartyLei>
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            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>TRAVELERS COS INC STRIKE 115 EXPIRES 07/17/20 CALLS</issuerName>
                <issueTitle>TRAVELERS COS INC STRIKE 115 EXPIRES 07/17/20 CALLS</issueTitle>
                <identifiers>
                  <cusip value="89417E109"/>
                  <isin value="US89417E1091"/>
                  <ticker value="TRV 7 C115"/>
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            <shareNo>100.00000000</shareNo>
            <exercisePrice>115.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-07-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>53806.76000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Southern Co/The 6.75% CNV PFD 2019 *SOUEU*</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co/The 6.75% CNV PFD 2019 *SOUEU*</title>
        <cusip>842587602</cusip>
        <identifiers>
          <ticker value="SO"/>
          <other otherDesc="Internal Identifier" value="1003211"/>
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        <balance>1000000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>47340000.00000000</valUSD>
        <pctVal>1.351806460753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SCHW 6.50% ELN Issued By Credit Suisse AG, London Branch 6.50% ELN 5/18/2021</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>SCHW 6.50% ELN Issued By Credit Suisse AG, London Branch 6.50% ELN 5/18/2021</title>
        <cusip>22550T526</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1066301"/>
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        <balance>1007000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36726084.52000000</valUSD>
        <pctVal>1.048723243183</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Healthpeak Properties Inc 3.875% 08/15/2024</name>
        <lei>PZ9HF5U52KPF0MH0QN75</lei>
        <title>Healthpeak Properties Inc 3.875% 08/15/2024</title>
        <cusip>40414LAL3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="583321"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5149895.20000000</valUSD>
        <pctVal>0.147056645618</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CSCO 7.0% ELN Issued by Citigroup Global Markets Holdings Inc 7.0% ELN 6/24/2020</name>
        <lei>82VOJDD5PTRDMVVMGV31</lei>
        <title>CSCO 7.0% ELN Issued by Citigroup Global Markets Holdings Inc 7.0% ELN 6/24/2020</title>
        <cusip>17327P351</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="990296"/>
        </identifiers>
        <balance>743000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31860270.94000000</valUSD>
        <pctVal>0.909778624800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bristol-Myers Squibb Co 4.25% 10/26/2049 144A</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co 4.25% 10/26/2049 144A</title>
        <cusip>110122CD8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="980833"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13069364.40000000</valUSD>
        <pctVal>0.373199223360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin Liberty Systematic Style Premia ETF ETF USD NPV TIS A/C #28388</name>
        <lei>N/A</lei>
        <title>Franklin Liberty Systematic Style Premia ETF ETF USD NPV TIS A/C #28388</title>
        <cusip>35473P546</cusip>
        <identifiers>
          <ticker value="FLSP"/>
          <other otherDesc="Internal Identifier" value="1014598"/>
        </identifiers>
        <balance>1175000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26061500.00000000</valUSD>
        <pctVal>0.744193157518</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>
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      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; CO COM USD.1666</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO COM USD.1666</title>
        <cusip>949746101</cusip>
        <identifiers>
          <ticker value="WFC"/>
          <other otherDesc="Internal Identifier" value="20314"/>
        </identifiers>
        <balance>1100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31955000.00000000</valUSD>
        <pctVal>0.912483638643</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORP 4% 10/01/2049 FNL</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FEDERAL HOME LOAN MORTGAGE CORP 4% 10/01/2049 FNL</title>
        <cusip>3132DV4B8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1017364"/>
        </identifiers>
        <balance>1966677.03000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2097689.84000000</valUSD>
        <pctVal>0.059900098824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REALTY INCOME CORP 3.875% 07/15/2024</name>
        <lei>549300CUWDAUZSH43859</lei>
        <title>REALTY INCOME CORP 3.875% 07/15/2024</title>
        <cusip>756109AQ7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="579287"/>
        </identifiers>
        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15858681.75000000</valUSD>
        <pctVal>0.452848932164</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <fairValLevel>1</fairValLevel>
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        <name>PROLOGIS LP 4.25% 08/15/2023</name>
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        <name>FANNIE MAE 4% 01/01/2050 FNL</name>
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        <name>GOVT NATL MORTG ASSN 4% 10/20/2049 SF2</name>
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        <name>INTC 8.00% ELN ISSUED BY ROYAL BANK OF CANADA 8.00% ELN 07/17/2020</name>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>TGT 9.0% ELN Issued by JPMorgan Chase Bank, National Association 9.0% ELN 9/22/2020</name>
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        <name>GOVT NATL MORTG ASSN 3.5% 11/20/2049 SF2</name>
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        <name>PFIZER INC COM USD.05</name>
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        <name>Edwards Lifesciences Corp 4.3% 06/15/2028</name>
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        <name>GOVT NATL MORTG ASSN 3.5% 12/20/2049 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <cusip>36179VBG4</cusip>
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        <name>INTEL CORP COM USD.001</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>GOVT NATL MORTG ASSN 4% 11/20/2049 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GOVT NATL MORTG ASSN 4% 11/20/2049 SF2</title>
        <cusip>36179U6W7</cusip>
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        <name>PROCTER &amp; GAMBLE CO 2.70% 02/02/2026</name>
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        <name>United States Treasury Note/Bond 2.75% 09/30/2020</name>
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        <name>Broadcom Inc 8% CNV PFD a *AVGOP*</name>
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        <name>SIRIUS XM RADIO INC 5.375% 04/15/2025 144A</name>
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        <name>Ford Motor Credit Co LLC 5.113% 05/03/2029</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <name>Calumet Specialty Products Partners LP / Calumet Finance Corp 11% 04/15/2025 144A</name>
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        <name>SLB 9.0% ELN Issued by Societe Generale 9.0% ELN 2/1/2021</name>
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        <name>GENERAL DYNAMICS CORP COM USD1</name>
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        <name>FANNIE MAE 4% 08/01/2049 FNL</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE 4% 12/01/2049 FNL</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE 4% 12/01/2049 FNL</title>
        <cusip>31418DJT0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1024623"/>
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        <balance>30801173.41000000</balance>
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        <curCd>USD</curCd>
        <valUSD>32853051.48000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Las Vegas Sands Corp 3.9% 08/08/29</name>
        <lei>549300DUOO1KXOHPM605</lei>
        <title>Las Vegas Sands Corp 3.9% 08/08/29</title>
        <cusip>517834AF4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="999925"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9232066.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Walmart Inc 3.25% 07/08/2029</name>
        <lei>Y87794H0US1R65VBXU25</lei>
        <title>Walmart Inc 3.25% 07/08/2029</title>
        <cusip>931142EN9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="977550"/>
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        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22830272.40000000</valUSD>
        <pctVal>0.651924582405</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bristol-Myers Squibb Co 3.4% 07/26/2029 144A</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co 3.4% 07/26/2029 144A</title>
        <cusip>110122CB2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="980688"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11442263.50000000</valUSD>
        <pctVal>0.326736918566</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE 4% 02/01/2050 FNL</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE 4% 02/01/2050 FNL</title>
        <cusip>31418DLU4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1046246"/>
        </identifiers>
        <balance>4476867.88000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4775107.77000000</valUSD>
        <pctVal>0.136354489528</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COCA-COLA CO COM USD0.25</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>COCA-COLA CO COM USD0.25</title>
        <cusip>191216100</cusip>
        <identifiers>
          <ticker value="KO"/>
          <other otherDesc="Internal Identifier" value="3082"/>
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        <balance>650200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29837678.00000000</valUSD>
        <pctVal>0.852022938197</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bayer US Finance II LLC 4.25% 12/15/2025 144A</name>
        <lei>529900XWNEXYNJ3X6T40</lei>
        <title>Bayer US Finance II LLC 4.25% 12/15/2025 144A</title>
        <cusip>07274NAJ2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="878169"/>
        </identifiers>
        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16634890.50000000</valUSD>
        <pctVal>0.475013782252</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>American Electric Power Co Inc 6.125% CNV PFD</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>American Electric Power Co Inc 6.125% CNV PFD</title>
        <cusip>025537127</cusip>
        <identifiers>
          <ticker value="AEP"/>
          <other otherDesc="Internal Identifier" value="970552"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12700000.00000000</valUSD>
        <pctVal>0.362651923353</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WYNN LAS VEGAS LLC/CAPITAL CORP 5.50% 03/01/2025 144A</name>
        <lei>N/A</lei>
        <title>WYNN LAS VEGAS LLC/CAPITAL CORP 5.50% 03/01/2025 144A</title>
        <cusip>983130AV7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="613652"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8962000.00000000</valUSD>
        <pctVal>0.255912325755</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOVT NATL MORTG ASSN 4% 09/20/2049 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GOVT NATL MORTG ASSN 4% 09/20/2049 SF2</title>
        <cusip>36179UZU9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1009874"/>
        </identifiers>
        <balance>4644324.10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4945211.05000000</valUSD>
        <pctVal>0.141211834541</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FRANKLIN LIBERTY US LOW VOLATILITY ETF ETF USD NPV TIS A/C # 21559</name>
        <lei>549300HYVMMHHTSYBI89</lei>
        <title>FRANKLIN LIBERTY US LOW VOLATILITY ETF ETF USD NPV TIS A/C # 21559</title>
        <cusip>35473P504</cusip>
        <identifiers>
          <ticker value="FLLV"/>
          <other otherDesc="Internal Identifier" value="643573"/>
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        <balance>1000000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34540000.00000000</valUSD>
        <pctVal>0.986299010444</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>
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      </invstOrSec>
      <invstOrSec>
        <name>ASHTEAD CAPITAL INC 4.125% 08/15/2025 144A</name>
        <lei>213800J1134IW58IC398</lei>
        <title>ASHTEAD CAPITAL INC 4.125% 08/15/2025 144A</title>
        <cusip>045054AD5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="671478"/>
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        <balance>21000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20842500.00000000</valUSD>
        <pctVal>0.595163205708</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Truist Financial Corp COM USD5</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp COM USD5</title>
        <cusip>89832Q109</cusip>
        <identifiers>
          <ticker value="TFC"/>
          <other otherDesc="Internal Identifier" value="63877"/>
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        <balance>500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18660000.00000000</valUSD>
        <pctVal>0.532841329904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GENERAL MOTORS CO COM USD.01</name>
        <lei>54930070NSV60J38I987</lei>
        <title>GENERAL MOTORS CO COM USD.01</title>
        <cusip>37045V100</cusip>
        <identifiers>
          <ticker value="GM"/>
          <other otherDesc="Internal Identifier" value="481710"/>
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        <balance>500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11145000.00000000</valUSD>
        <pctVal>0.318248479195</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORP 3.75% 07/28/2026</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CORP 3.75% 07/28/2026</title>
        <cusip>14040HBK0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="641359"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9932895.00000000</valUSD>
        <pctVal>0.283636494190</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc 4.9% 02/01/2046</name>
        <lei>N/A</lei>
        <title>Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc 4.9% 02/01/2046</title>
        <cusip>03522AAJ9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="984377"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11506191.10000000</valUSD>
        <pctVal>0.328562388416</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY 4.35% 09/08/2026</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY 4.35% 09/08/2026</title>
        <cusip>6174467Y9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="585537"/>
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        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16546771.95000000</valUSD>
        <pctVal>0.472497533304</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.35000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ASTRAZENECA PLC SPONSORED ADR</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>ASTRAZENECA PLC SPONSORED ADR</title>
        <cusip>046353108</cusip>
        <identifiers>
          <ticker value="AZN"/>
          <other otherDesc="Internal Identifier" value="30513"/>
        </identifiers>
        <balance>1100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57508000.00000000</valUSD>
        <pctVal>1.642156441593</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Freeport-McMoRan Inc 5.25% 09/01/29</name>
        <lei>549300IRDTHJQ1PVET45</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>Susquehanna International Group</counterpartyName>
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            <unrealizedAppr>-678358.11000000</unrealizedAppr>
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        <name>CVS HEALTH CORP COM USD1</name>
        <lei>549300EJG376EN5NQE29</lei>
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        <cusip>126650100</cusip>
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          <ticker value="CVS"/>
          <other otherDesc="Internal Identifier" value="811"/>
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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>BAC 8.5% ELN Issued by Barclays Bank PLC 8.5% ELN 11/25/2020</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>BAC 8.5% ELN Issued by Barclays Bank PLC 8.5% ELN 11/25/2020</title>
        <cusip>06747D130</cusip>
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          <other otherDesc="Internal Identifier" value="1022181"/>
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        <balance>750000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CAPITAL ONE FINANCIAL CORP 3.75% 03/09/2027</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CORP 3.75% 03/09/2027</title>
        <cusip>14040HBN4</cusip>
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          <other otherDesc="Internal Identifier" value="665769"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-09</maturityDt>
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        <name>Franklin FTSE United Kingdom ETF ETF USD NPV TIS A/C#26350</name>
        <lei>549300EBZY7Y36672039</lei>
        <title>Franklin FTSE United Kingdom ETF ETF USD NPV TIS A/C#26350</title>
        <cusip>35473P678</cusip>
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          <ticker value="FLGB"/>
          <other otherDesc="Internal Identifier" value="817195"/>
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        <valUSD>37840000.00000000</valUSD>
        <pctVal>1.080531399977</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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        <name>Mylan Inc 4.55% 04/15/2028</name>
        <lei>30ZMPDNA1RHIBH89C294</lei>
        <title>Mylan Inc 4.55% 04/15/2028</title>
        <cusip>628530BK2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="952483"/>
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        <balance>19000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20859146.96000000</valUSD>
        <pctVal>0.595638564138</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</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>TARGET CORP COM USD.0833</name>
        <lei>8WDDFXB5T1Z6J0XC1L66</lei>
        <title>TARGET CORP COM USD.0833</title>
        <cusip>87612E106</cusip>
        <identifiers>
          <ticker value="TGT"/>
          <other otherDesc="Internal Identifier" value="434"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21948000.00000000</valUSD>
        <pctVal>0.626731056202</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BP PLC SPONSORED ADR</name>
        <lei>213800LH1BZH3DI6G760</lei>
        <title>BP PLC SPONSORED ADR</title>
        <cusip>055622104</cusip>
        <identifiers>
          <ticker value="BP"/>
          <other otherDesc="Internal Identifier" value="39485"/>
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        <balance>1100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26180000.00000000</valUSD>
        <pctVal>0.747576956960</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHS/Community Health Systems Inc STEP 06/30/2023 144A</name>
        <lei>5493007X5NC5XI1BB106</lei>
        <title>CHS/Community Health Systems Inc STEP 06/30/2023 144A</title>
        <cusip>12543DAZ3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="878321"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3714000.00000000</valUSD>
        <pctVal>0.106054271128</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-30</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>9.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>ABBVIE INC COM USD NPV</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBVIE INC COM USD NPV</title>
        <cusip>00287Y109</cusip>
        <identifiers>
          <ticker value="ABBV"/>
          <other otherDesc="Internal Identifier" value="537642"/>
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        <balance>500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41100000.00000000</valUSD>
        <pctVal>1.173621578727</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PROCTER &amp; GAMBLE CO COM NPV</name>
        <lei>2572IBTT8CCZW6AU4141</lei>
        <title>PROCTER &amp; GAMBLE CO COM NPV</title>
        <cusip>742718109</cusip>
        <identifiers>
          <ticker value="PG"/>
          <other otherDesc="Internal Identifier" value="4513"/>
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        <balance>300000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>35361000.00000000</valUSD>
        <pctVal>1.009742886749</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SEMPRA ENERGY 6.00% CNV PFD *SER A*</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>SEMPRA ENERGY 6.00% CNV PFD *SER A*</title>
        <cusip>816851406</cusip>
        <identifiers>
          <ticker value="SRE"/>
          <other otherDesc="Internal Identifier" value="682147"/>
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        <balance>250000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25577500.00000000</valUSD>
        <pctVal>0.730372407053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>US BANCORP COM USD.01</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP COM USD.01</title>
        <cusip>902973304</cusip>
        <identifiers>
          <ticker value="USB"/>
          <other otherDesc="Internal Identifier" value="203182"/>
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        <balance>800000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>29200000.00000000</valUSD>
        <pctVal>0.833813871018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DuPont de Nemours Inc 4.493% 11/15/2025</name>
        <lei>5493004JF0SDFLM8GD76</lei>
        <title>DuPont de Nemours Inc 4.493% 11/15/2025</title>
        <cusip>26078JAC4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="942812"/>
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        <balance>20000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22044875.80000000</valUSD>
        <pctVal>0.629497370784</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.49300000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHANGE HEALTHCARE INC 6.00% CVPF PFD</name>
        <lei>549300GS1BPJEDOZHM07</lei>
        <title>CHANGE HEALTHCARE INC 6.00% CVPF PFD</title>
        <cusip>15912K209</cusip>
        <identifiers>
          <ticker value="CHNG"/>
          <other otherDesc="Internal Identifier" value="993586"/>
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        <balance>215000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9945900.00000000</valUSD>
        <pctVal>0.284007855471</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>CLOROX CO 3.10% 10/01/2027</name>
        <lei>54930044KVSC06Z79I06</lei>
        <title>CLOROX CO 3.10% 10/01/2027</title>
        <cusip>189054AV1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="675487"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5528367.65000000</valUSD>
        <pctVal>0.157864028447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>JOHNSON &amp; JOHNSON STRIKE 150 EXPIRES 05/15/20 CALLS</title>
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          <ticker value="JNJ 5 C150"/>
          <other otherDesc="Internal Identifier" value="1058422"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-737500.00000000</valUSD>
        <pctVal>-0.02105951129</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>RBC Capital Markets LLC</counterpartyName>
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            <writtenOrPur>Written</writtenOrPur>
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                  <isin value="US4781601046"/>
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            <shareNo>100.00000000</shareNo>
            <exercisePrice>150.00000000</exercisePrice>
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            <expDt>2020-05-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-392279.75000000</unrealizedAppr>
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        <name>ROYAL DUTCH SHELL PLC SPONSORED ADR A</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>HOME DEPOT INC COM USD0.05</name>
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        <name>CHS/Community Health Systems Inc 6.625% 02/15/2025 144A</name>
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        <name>United States Treasury Note/Bond 2.875% 10/31/2023</name>
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        <title>United States Treasury Note/Bond 2.875% 10/31/2023</title>
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        <name>HOST HOTELS &amp; RESORTS INC REIT USD.01</name>
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        <name>CITIGROUP INC 4.125% 07/25/2028</name>
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        <name>Truist Financial Corp FRN 03/01/2169 PERP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co PRF USD 6.00% SER EE *JPM C*</name>
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        <invCountry>US</invCountry>

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        <name>N/A</name>
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        <title>SPDR S&amp;P 500 ETF TRUST STRIKE 280 EXPIRES 12/18/20 PUTS</title>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>COMMSCOPE TECHNOLOGIES LLC 5.00% 03/15/2027 144A</name>
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        <name>DOLLAR GENERAL CORP 3.875% 04/15/2027</name>
        <lei>OPX52SQVOZI8IVSWYU66</lei>
        <title>DOLLAR GENERAL CORP 3.875% 04/15/2027</title>
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        <lei>IGJSJL3JD5P30I6NJZ34</lei>
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        <lei>549300WGC2HZ5J67V817</lei>
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        <name>INTERNATIONAL BUSINESS MACHINES CORP COM USD.2</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
        <title>INTERNATIONAL BUSINESS MACHINES CORP COM USD.2</title>
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        <fairValLevel>1</fairValLevel>
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        <name>TXN 7.5% ELN Issued by Wells Fargo Bank NA 7.5% ELN 5/13/2020</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
        <title>TXN 7.5% ELN Issued by Wells Fargo Bank NA 7.5% ELN 5/13/2020</title>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Cigna Corp 3.4% 03/01/2027 144A</name>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>LOCKHEED MARTIN CORP 3.55% 01/15/2026</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BLACKROCK INC COM USD.01</name>
        <lei>549300LRIF3NWCU26A80</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>JPMORGAN CHASE &amp; CO 5.00% 1/1/2169 PERP *FORMERLY FIXED*</name>
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        <title>JPMORGAN CHASE &amp; CO 5.00% 1/1/2169 PERP *FORMERLY FIXED*</title>
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          <other otherDesc="Internal Identifier" value="577971"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <name>Bausch Health Cos Inc 6.125% 04/15/2025 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 6.125% 04/15/2025 144A</title>
        <cusip>91831AAC5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="599700"/>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tenet Healthcare Corp 4.625% 07/15/2024</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp 4.625% 07/15/2024</title>
        <cusip>88033GCS7</cusip>
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          <other otherDesc="Internal Identifier" value="920334"/>
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        <valUSD>16860600.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AAPL 7.0% ELN Issued by JPMorgan Chase Bank, National Association 7.00% ELN 7/20/2020</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>AAPL 7.0% ELN Issued by JPMorgan Chase Bank, National Association 7.00% ELN 7/20/2020</title>
        <cusip>48128D693</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="995881"/>
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        <balance>320000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>71542136.64000000</valUSD>
        <pctVal>2.042904996325</pctVal>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>COMCAST CORP COM A USD1 (NEW)</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP COM A USD1 (NEW)</title>
        <cusip>20030N101</cusip>
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          <ticker value="CMCSA"/>
          <other otherDesc="Internal Identifier" value="262997"/>
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        <curCd>USD</curCd>
        <valUSD>18815000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CVS HEALTH CORP 5.05% 03/25/2048</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 5.05% 03/25/2048</title>
        <cusip>126650CZ1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="686102"/>
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        <curCd>USD</curCd>
        <valUSD>18938752.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>AVGO 10.0% ELN Issued by Barclays Bank PLC 10.0% ELN 6/23/2020</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>AVGO 10.0% ELN Issued by Barclays Bank PLC 10.0% ELN 6/23/2020</title>
        <cusip>06747B233</cusip>
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          <other otherDesc="Internal Identifier" value="989519"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP 4.183% 11/25/2027</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP 4.183% 11/25/2027</title>
        <cusip>06051GGC7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="653892"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10910073.00000000</valUSD>
        <pctVal>0.311540075384</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>N/A</name>
        <lei>N/A</lei>
        <title>TEXAS INSTRUMENTS INC STRIKE 125 EXPIRES 06/19/20 CALLS</title>
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          <ticker value="TXN 6 C125"/>
          <other otherDesc="Internal Identifier" value="1059950"/>
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        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-53190.00000000</valUSD>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>REYNOLDS AMERICAN INC 4.45% 06/12/2025</name>
        <lei>02S2RPPVO9RP4NEU2740</lei>
        <title>REYNOLDS AMERICAN INC 4.45% 06/12/2025</title>
        <cusip>761713BG0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="606148"/>
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        <valUSD>16326284.55000000</valUSD>
        <pctVal>0.466201456163</pctVal>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-12</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>United Rentals North America Inc 4.625% 10/15/2025</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>United Rentals North America Inc 4.625% 10/15/2025</title>
        <cusip>911365BH6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="918710"/>
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        <balance>20000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>19696000.00000000</valUSD>
        <pctVal>0.562424589163</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FASTENAL CO COM USD.01</name>
        <lei>529900PP0C7H2HHPSJ32</lei>
        <title>FASTENAL CO COM USD.01</title>
        <cusip>311900104</cusip>
        <identifiers>
          <ticker value="FAST"/>
          <other otherDesc="Internal Identifier" value="204754"/>
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        <balance>750000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27165000.00000000</valUSD>
        <pctVal>0.775703897472</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>ABBVIE INC STRIKE 90 EXPIRES 06/19/20 CALLS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="ABBV 6 C90"/>
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        <name>TYSON FOODS INC 3.95% 08/15/2024</name>
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        <name>T-Mobile USA Inc 3.875% 04/15/2030 144A</name>
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        <name>Raytheon Technologies Corp COM USD1</name>
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        <name>IFT MONEY MARKET PORTFOLIO OEMF-SWEEP MONEY MARKET PORTFOLIO</name>
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        <name>Peloton Interactive Inc COM USD 0.000025 CL A</name>
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        <name>Syngenta Finance NV 5.182% 04/24/2028 144A</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Dominion Energy Inc 7.25% CNV PFD SER A *DCUE*</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>Dominion Energy Inc 7.25% CNV PFD SER A *DCUE*</title>
        <cusip>25746U133</cusip>
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          <ticker value="D"/>
          <other otherDesc="Internal Identifier" value="991101"/>
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        <name>Prudential Financial Inc 5.70% 09/15/2048 *FIXED TO FLOAT*</name>
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        <name>UNITED STATES TREASURY NOTE/BOND 2.75% 09/15/2021</name>
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        <name>N/A</name>
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          <ticker value="SPY 7 P285"/>
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        <name>DOMINION ENERGY INC COM USD NPV</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>DOMINION ENERGY INC COM USD NPV</title>
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          <ticker value="D"/>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BLACKROCK INC STRIKE 500 EXPIRES 05/15/20 CALLS</title>
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          <ticker value="BLK 5 C500"/>
          <other otherDesc="Internal Identifier" value="1060219"/>
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              <counterpartyName>Credit Suisse Securities (Europe) Ltd.</counterpartyName>
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      <invstOrSec>
        <name>CVS HEALTH CORP 3.875% 07/20/2025</name>
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        <title>CVS HEALTH CORP 3.875% 07/20/2025</title>
        <cusip>126650CL2</cusip>
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          <other otherDesc="Internal Identifier" value="608569"/>
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        <name>XILINX INC 2.95% 06/01/2024</name>
        <lei>6EY4K7ZMF9UX1CU6KC79</lei>
        <title>XILINX INC 2.95% 06/01/2024</title>
        <cusip>983919AJ0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="666887"/>
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        <name>CCO HOLDINGS LLC/CAPITAL CORP 5.125% 05/01/2027 144A</name>
        <lei>N/A</lei>
        <title>CCO HOLDINGS LLC/CAPITAL CORP 5.125% 05/01/2027 144A</title>
        <cusip>1248EPBT9</cusip>
        <identifiers>
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        <balance>15000000.00000000</balance>
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        <name>Cigna Corp 3.75% 07/15/2023</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Corp 3.75% 07/15/2023</title>
        <cusip>125523AF7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1004080"/>
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        <balance>13292000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BAT Capital Corp 3.557% 08/15/2027</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp 3.557% 08/15/2027</title>
        <cusip>05526DBB0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="946359"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15432836.10000000</valUSD>
        <pctVal>0.440688794840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>COMCAST CORP STRIKE 45 EXPIRES 07/17/20 CALLS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="CMCSA 7 C45"/>
          <other otherDesc="Internal Identifier" value="1060461"/>
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        <balance>-2500.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-50000.00000000</valUSD>
        <pctVal>-0.00142776347</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>WELLS FARGO SECURITIES LLC</counterpartyName>
              <counterpartyLei>VYVVCKR63DVZZN70PB21</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>COMCAST CORP STRIKE 45 EXPIRES 07/17/20 CALLS</issuerName>
                <issueTitle>COMCAST CORP STRIKE 45 EXPIRES 07/17/20 CALLS</issueTitle>
                <identifiers>
                  <cusip value="20030N101"/>
                  <isin value="US20030N1019"/>
                  <ticker value="CMCSA 7 C45"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>45.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-07-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>74900.18000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EXXON MOBIL CORP COM NPV</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>EXXON MOBIL CORP COM NPV</title>
        <cusip>30231G102</cusip>
        <identifiers>
          <ticker value="XOM"/>
          <other otherDesc="Internal Identifier" value="29743"/>
        </identifiers>
        <balance>600000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27882000.00000000</valUSD>
        <pctVal>0.796178025744</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PEPSICO INC COM USD.017</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PEPSICO INC COM USD.017</title>
        <cusip>713448108</cusip>
        <identifiers>
          <ticker value="PEP"/>
          <other otherDesc="Internal Identifier" value="6887"/>
        </identifiers>
        <balance>187200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24764688.00000000</valUSD>
        <pctVal>0.707162341295</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPRINT SPECTRUM CO LLC / SPRINT SPECTRUM CO II LLC / SP 4.738% 09/20/2029 144A</name>
        <lei>N/A</lei>
        <title>SPRINT SPECTRUM CO LLC / SPRINT SPECTRUM CO II LLC / SP 4.738% 09/20/2029 144A</title>
        <cusip>85208NAD2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="686670"/>
        </identifiers>
        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26495000.00000000</valUSD>
        <pctVal>0.756571866870</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.73800000</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>CHS/Community Health Systems Inc 8% 03/15/2026 144A</name>
        <lei>5493007X5NC5XI1BB106</lei>
        <title>CHS/Community Health Systems Inc 8% 03/15/2026 144A</title>
        <cusip>12543DBC3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="966081"/>
        </identifiers>
        <balance>30000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>28898400.00000000</valUSD>
        <pctVal>0.825201601720</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LIBERTY MUTUAL GROUP INC 4.95% 05/01/2022 144A</name>
        <lei>QUR0DG15Z6FFGYCHH861</lei>
        <title>LIBERTY MUTUAL GROUP INC 4.95% 05/01/2022 144A</title>
        <cusip>53079EAW4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="519951"/>
        </identifiers>
        <balance>7100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7496775.34000000</valUSD>
        <pctVal>0.214072440630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</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>GOLDMAN SACHS GROUP INC 3.50% 11/16/2026</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC 3.50% 11/16/2026</title>
        <cusip>38145GAH3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="652834"/>
        </identifiers>
        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15943396.95000000</valUSD>
        <pctVal>0.455267997536</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>Nordstrom Inc 8.75% 05/15/2025 144A</name>
        <lei>549300S3IZB5P35KNV16</lei>
        <title>Nordstrom Inc 8.75% 05/15/2025 144A</title>
        <cusip>655664AU4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1060456"/>
        </identifiers>
        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16109130.30000000</valUSD>
        <pctVal>0.460000558019</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPRINT CORP 7.625% 02/15/2025</name>
        <lei>549300ZTTY7CXOLJ6539</lei>
        <title>SPRINT CORP 7.625% 02/15/2025</title>
        <cusip>85207UAJ4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="597872"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11613500.00000000</valUSD>
        <pctVal>0.331626622981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>NORTHROP GRUMMAN CORP STRIKE 375 EXPIRES 05/15/20 CALLS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="NOC 5 C375"/>
          <other otherDesc="Internal Identifier" value="1060228"/>
        </identifiers>
        <balance>-429.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-2574.00000000</valUSD>
        <pctVal>-0.00007350126</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>Susquehanna International Group</counterpartyName>
              <counterpartyLei>549300E8QX0ZMRDC2M81</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>NORTHROP GRUMMAN CORP STRIKE 375 EXPIRES 05/15/20 CALLS</issuerName>
                <issueTitle>NORTHROP GRUMMAN CORP STRIKE 375 EXPIRES 05/15/20 CALLS</issueTitle>
                <identifiers>
                  <cusip value="666807102"/>
                  <isin value="US6668071029"/>
                  <ticker value="NOC 5 C375"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>375.00000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-05-15</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>120100.61000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>AMZN 7.5% ELN Issued by Goldman Sachs International 7.5% ELN 1/11/2021</name>
        <lei>W22LROWP2IHZNBB6K528</lei>
        <title>AMZN 7.5% ELN Issued by Goldman Sachs International 7.5% ELN 1/11/2021</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS1269132574"/>
          <other otherDesc="Internal Identifier" value="1034311"/>
        </identifiers>
        <balance>38000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>72318190.03000000</valUSD>
        <pctVal>2.065065410066</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>INTERNATIONAL FLAVORS &amp; FRAGRANCES INC 6.00% CNV PFD *IFFIU*</name>
        <lei>BZLRL03D3GPGMOGFO832</lei>
        <title>INTERNATIONAL FLAVORS &amp; FRAGRANCES INC 6.00% CNV PFD *IFFIU*</title>
        <cusip>459506309</cusip>
        <identifiers>
          <ticker value="IFF"/>
          <other otherDesc="Internal Identifier" value="930991"/>
        </identifiers>
        <balance>250000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11887500.00000000</valUSD>
        <pctVal>0.339450766840</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>QUEST DIAGNOSTICS INC COM USD.01</name>
        <lei>8MCWUBXQ0WE04KMXBX50</lei>
        <title>QUEST DIAGNOSTICS INC COM USD.01</title>
        <cusip>74834L100</cusip>
        <identifiers>
          <ticker value="DGX"/>
          <other otherDesc="Internal Identifier" value="43932"/>
        </identifiers>
        <balance>400000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44044000.00000000</valUSD>
        <pctVal>1.257688292298</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BARCLAYS PLC 3.65% 03/16/2025</name>
        <lei>213800LBQA1Y9L22JB70</lei>
        <title>BARCLAYS PLC 3.65% 03/16/2025</title>
        <cusip>06738EAE5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="613477"/>
        </identifiers>
        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15657900.00000000</valUSD>
        <pctVal>0.447115555171</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-05-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Robert Kubilis</ncom:nameOfApplicant>
      <ncom:signature>Robert Kubilis</ncom:signature>
      <ncom:signerName>Robert Kubilis</ncom:signerName>
      <ncom:title>Chief Financial Officer, Chief Accounting Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
