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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-07-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PNC FINANCIAL SERVICES GROUP INC 4.85% 12/1/2168 PERP</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
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        <cusip>693475AM7</cusip>
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          <other otherDesc="Internal Identifier" value="555361"/>
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        <valUSD>12519600.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <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"/>
          <other otherDesc="Internal Identifier" value="182154"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>COCA-COLA CO COM USD0.25</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>COCA-COLA CO COM USD0.25</title>
        <cusip>191216100</cusip>
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          <ticker value="KO"/>
          <other otherDesc="Internal Identifier" value="3082"/>
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        <balance>650200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37971680.00000000</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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        <name>CVS HEALTH CORP COM USD1</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP COM USD1</title>
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          <ticker value="CVS"/>
          <other otherDesc="Internal Identifier" value="811"/>
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        <balance>170000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11529400.00000000</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>N/A</name>
        <lei>N/A</lei>
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        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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              <counterpartyName>Citigroup Global Markets Ltd</counterpartyName>
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                <issuerName>RAYTHEON CO STRIKE 230 EXPIRES 02/21/20 CALLS</issuerName>
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      <invstOrSec>
        <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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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>Chesapeake Energy Corp 11.5% 01/01/2025 144A</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>Chesapeake Energy Corp 11.5% 01/01/2025 144A</title>
        <cusip>165167DD6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1034312"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8072000.00000000</valUSD>
        <pctVal>0.208502623741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.50000000</annualizedRt>
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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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        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16436868.75000000</valUSD>
        <pctVal>0.424570151198</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-06-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <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"/>
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        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15926905.65000000</valUSD>
        <pctVal>0.411397623403</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>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <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"/>
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        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21132406.60000000</valUSD>
        <pctVal>0.545857559722</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>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PROLOGIS LP 4.25% 08/15/2023</name>
        <lei>GL16H1DHB0QSHP25F723</lei>
        <title>PROLOGIS LP 4.25% 08/15/2023</title>
        <cusip>74340XAW1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="559924"/>
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        <balance>12000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12961484.28000000</valUSD>
        <pctVal>0.334799737360</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Edwards Lifesciences Corp 4.3% 06/15/2028</name>
        <lei>YA13X31F3V31L8TMPR58</lei>
        <title>Edwards Lifesciences Corp 4.3% 06/15/2028</title>
        <cusip>28176EAD0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="877155"/>
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        <balance>9700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11029793.27000000</valUSD>
        <pctVal>0.284903473256</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <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"/>
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        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16567886.55000000</valUSD>
        <pctVal>0.427954387454</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>NORTHROP GRUMMAN CORP STRIKE 365 EXPIRES 02/21/20 CALLS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="NOC 2 C365"/>
          <other otherDesc="Internal Identifier" value="1033544"/>
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        <balance>-1050.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-1387050.00000000</valUSD>
        <pctVal>-0.03582799359</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>Citigroup Global Markets Ltd</counterpartyName>
              <counterpartyLei>XKZZ2JZF41MRHTR1V493</counterpartyLei>
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                <issuerName>NORTHROP GRUMMAN CORP STRIKE 365 EXPIRES 02/21/20 CALLS</issuerName>
                <issueTitle>NORTHROP GRUMMAN CORP STRIKE 365 EXPIRES 02/21/20 CALLS</issueTitle>
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                  <cusip value="666807102"/>
                  <isin value="US6668071029"/>
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            <shareNo>100.00000000</shareNo>
            <exercisePrice>365</exercisePrice>
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            <expDt>2020-02-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-926202.83</unrealizedAppr>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HSBC Holdings PLC 4.292 09/12/2026 *FIXED TO FLOAT*</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC 4.292 09/12/2026 *FIXED TO FLOAT*</title>
        <cusip>404280BX6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="927901"/>
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        <balance>20000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21963215.60000000</valUSD>
        <pctVal>0.567317650942</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-12</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.29200000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE 4% 09/01/2049 FNL</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE 4% 09/01/2049 FNL</title>
        <cusip>31418DFS6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1017365"/>
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        <balance>2478084.31000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2588883.85000000</valUSD>
        <pctVal>0.066871788316</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-09-01</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>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"/>
        </identifiers>
        <balance>31951460.71000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33608531.20000000</valUSD>
        <pctVal>0.868120284355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NIKE INC 2.375% 11/01/2026</name>
        <lei>787RXPR0UX0O0XUXPZ81</lei>
        <title>NIKE INC 2.375% 11/01/2026</title>
        <cusip>654106AF0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="652256"/>
        </identifiers>
        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20735295.20000000</valUSD>
        <pctVal>0.535600031375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>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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        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18149307.75000000</valUSD>
        <pctVal>0.468803058099</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.05000000</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>SCHW 6.0% ELN Issued by Barclays Bank PLC 6.0% ELN 3/12/2020</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>SCHW 6.0% ELN Issued by Barclays Bank PLC 6.0% ELN 3/12/2020</title>
        <cusip>06746Y317</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="966018"/>
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        <balance>755000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34723589.30000000</valUSD>
        <pctVal>0.896922630672</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>
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      </invstOrSec>
      <invstOrSec>
        <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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        <balance>11000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11433789.29000000</valUSD>
        <pctVal>0.295338833780</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Cigna Corp 3.4% 03/01/2027 144A</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Corp 3.4% 03/01/2027 144A</title>
        <cusip>125523CA6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1015182"/>
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        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15922292.40000000</valUSD>
        <pctVal>0.411278461519</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TEXAS INSTRUMENTS INC COM USD1</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>TEXAS INSTRUMENTS INC COM USD1</title>
        <cusip>882508104</cusip>
        <identifiers>
          <ticker value="TXN"/>
          <other otherDesc="Internal Identifier" value="5041"/>
        </identifiers>
        <balance>197000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23768050.00000000</valUSD>
        <pctVal>0.613937163804</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>Syngenta Finance NV 5.182% 04/24/2028 144A</name>
        <lei>54930042S3BYCEGOCN86</lei>
        <title>Syngenta Finance NV 5.182% 04/24/2028 144A</title>
        <cusip>87164KAC8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="870666"/>
        </identifiers>
        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22489107.40000000</valUSD>
        <pctVal>0.580901622709</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.18200000</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>UNITED STATES TREASURY NOTE/BOND 2.75% 09/15/2021</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TREASURY NOTE/BOND 2.75% 09/15/2021</title>
        <cusip>9128285A4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="928366"/>
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        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>51085937.50000000</valUSD>
        <pctVal>1.319567889626</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>3M CO COM USD.01</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
        <title>3M CO COM USD.01</title>
        <cusip>88579Y101</cusip>
        <identifiers>
          <ticker value="MMM"/>
          <other otherDesc="Internal Identifier" value="833"/>
        </identifiers>
        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31732000.00000000</valUSD>
        <pctVal>0.819648817713</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>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>10379150.00000000</valUSD>
        <pctVal>0.268097126760</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>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>40510000.00000000</valUSD>
        <pctVal>1.046387671926</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>CNH INDUSTRIAL NV 3.85% 11/15/2027</name>
        <lei>549300WGC2HZ5J67V817</lei>
        <title>CNH INDUSTRIAL NV 3.85% 11/15/2027</title>
        <cusip>12594KAB8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="678537"/>
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        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15895176.90000000</valUSD>
        <pctVal>0.410578058534</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.85000000</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>GOVT NATL MORTG ASSN 3.5% 12/20/2049 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GOVT NATL MORTG ASSN 3.5% 12/20/2049 SF2</title>
        <cusip>36179VBG4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1025252"/>
        </identifiers>
        <balance>2873707.43000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2980504.51000000</valUSD>
        <pctVal>0.076987488901</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VERIZON COMMUNICATIONS INC COM USD1</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMUNICATIONS INC COM USD1</title>
        <cusip>92343V104</cusip>
        <identifiers>
          <ticker value="VZ"/>
          <other otherDesc="Internal Identifier" value="22610"/>
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        <balance>850000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50524000.00000000</valUSD>
        <pctVal>1.305052844640</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>RAYTHEON CO NEW COM NPV</name>
        <lei>YR6K3WJN0KKLUPZSNL57</lei>
        <title>RAYTHEON CO NEW COM NPV</title>
        <cusip>755111507</cusip>
        <identifiers>
          <ticker value="RTN"/>
          <other otherDesc="Internal Identifier" value="209000"/>
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        <balance>260000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>57444400.00000000</valUSD>
        <pctVal>1.483809231824</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>Ford Motor Credit Co LLC 5.113% 05/03/2029</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co LLC 5.113% 05/03/2029</title>
        <cusip>345397ZR7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="979733"/>
        </identifiers>
        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26279519.00000000</valUSD>
        <pctVal>0.678809299080</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.11300000</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>4884999.80000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5098542.83000000</valUSD>
        <pctVal>0.131697170133</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>
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      <invstOrSec>
        <name>INTERNATIONAL BUSINESS MACHINES CORP COM USD.2</name>
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      <invstOrSec>
        <name>IFT MONEY MARKET PORTFOLIO OEMF-SWEEP MONEY MARKET PORTFOLIO</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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        <name>HCA Inc 5.375% 09/01/2026</name>
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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"/>
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        <name>N/A</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <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>
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        <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>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>INTEL CORP COM USD.001</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>INTEL CORP COM USD.001</title>
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          <ticker value="INTC"/>
          <other otherDesc="Internal Identifier" value="7126"/>
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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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        <name>CHEVRON CORP COM USD.75</name>
        <lei>N/A</lei>
        <title>CHEVRON CORP COM USD.75</title>
        <cusip>166764100</cusip>
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          <ticker value="CVX"/>
          <other otherDesc="Internal Identifier" value="14093"/>
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        <curCd>USD</curCd>
        <valUSD>42856000.00000000</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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        <name>TYSON FOODS INC 3.95% 08/15/2024</name>
        <lei>WD6L6041MNRW1JE49D58</lei>
        <title>TYSON FOODS INC 3.95% 08/15/2024</title>
        <cusip>902494AX1</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <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>
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          <other otherDesc="Internal Identifier" value="1034311"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>SEMPRA ENERGY 6.00% CNV PFD *SER A*</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
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          <ticker value="SRE"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Broadcom Inc 8% CNV PFD a *AVGOP*</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom Inc 8% CNV PFD a *AVGOP*</title>
        <cusip>11135F200</cusip>
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          <ticker value="AVGO"/>
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        <valUSD>28715000.00000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <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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        <valUSD>15705701.70000000</valUSD>
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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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        <name>CVS 8.5% ELN ISSUED BY UBS AG, LONDON BRANCH CVS 8.5% ELN 8/31/2020</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>CVS 8.5% ELN ISSUED BY UBS AG, LONDON BRANCH CVS 8.5% ELN 8/31/2020</title>
        <cusip>90269A526</cusip>
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          <other otherDesc="Internal Identifier" value="1004526"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>DISH DBS CORP 5.875% 07/15/2022</name>
        <lei>N/A</lei>
        <title>DISH DBS CORP 5.875% 07/15/2022</title>
        <cusip>25470XAJ4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="530689"/>
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        <balance>12000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12621360.00000000</valUSD>
        <pctVal>0.326014206540</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
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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>10649459.80000000</valUSD>
        <pctVal>0.275079324793</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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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FANNIE MAE 4% 10/01/2049 FNL</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE 4% 10/01/2049 FNL</title>
        <cusip>31418DGN6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1014020"/>
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        <curCd>USD</curCd>
        <valUSD>1444263.57000000</valUSD>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Centene Corp 4.625% 12/15/2029 144A</name>
        <lei>549300Z7JJ4TQSQGT333</lei>
        <title>Centene Corp 4.625% 12/15/2029 144A</title>
        <cusip>15135BAS0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1024899"/>
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        <balance>20000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21563000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>GOVT NATL MORTG ASSN 3.5% 11/20/2049 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GOVT NATL MORTG ASSN 3.5% 11/20/2049 SF2</title>
        <cusip>36179U6V9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1022178"/>
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        <balance>73079730.26000000</balance>
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        <curCd>USD</curCd>
        <valUSD>75748531.85000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>COSTCO WHOLESALE CORP 2.75% 05/18/2024</name>
        <lei>29DX7H14B9S6O3FD6V18</lei>
        <title>COSTCO WHOLESALE CORP 2.75% 05/18/2024</title>
        <cusip>22160KAL9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="665775"/>
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        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15722708.85000000</valUSD>
        <pctVal>0.406123147615</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-05-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Prudential Financial Inc 5.70% 09/15/2048 *FIXED TO FLOAT*</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial Inc 5.70% 09/15/2048 *FIXED TO FLOAT*</title>
        <cusip>744320BF8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="931147"/>
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        <balance>20000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>23145906.40000000</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>2048-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CVS HEALTH CORP 3.875% 07/20/2025</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 3.875% 07/20/2025</title>
        <cusip>126650CL2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="608569"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16225270.35000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <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>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16044965.10000000</valUSD>
        <pctVal>0.414447140881</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</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"/>
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        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16238570.40000000</valUSD>
        <pctVal>0.419448034467</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </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"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10449900.00000000</valUSD>
        <pctVal>0.269924624360</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>
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      <invstOrSec>
        <name>TGT 9.0% ELN Issued by JPMorgan Chase Bank, National Association 9.0% ELN 9/22/2020</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>TGT 9.0% ELN Issued by JPMorgan Chase Bank, National Association 9.0% ELN 9/22/2020</title>
        <cusip>48128D651</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1009095"/>
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        <balance>190000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>21011226.19000000</valUSD>
        <pctVal>0.542727426740</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>
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      <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"/>
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        <balance>187200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26586144.00000000</valUSD>
        <pctVal>0.686729531613</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>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>72155818.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>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"/>
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        <balance>21700000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>23390648.52000000</valUSD>
        <pctVal>0.604188749683</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>PFIZER INC COM USD.05</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>PFIZER INC COM USD.05</title>
        <cusip>717081103</cusip>
        <identifiers>
          <ticker value="PFE"/>
          <other otherDesc="Internal Identifier" value="971"/>
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        <balance>1150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>42826000.00000000</valUSD>
        <pctVal>1.106210773584</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <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"/>
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        <balance>7100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7555050.08000000</valUSD>
        <pctVal>0.195149623907</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>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COMMSCOPE TECHNOLOGIES LLC 5.00% 03/15/2027 144A</name>
        <lei>M4TWC4QDOKW45N7T6Y12</lei>
        <title>COMMSCOPE TECHNOLOGIES LLC 5.00% 03/15/2027 144A</title>
        <cusip>20338HAB9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="661296"/>
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        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18200500.00000000</valUSD>
        <pctVal>0.470125372078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>HOST HOTELS &amp; RESORTS INC REIT USD.01</name>
        <lei>N6EL63S0K3PB1YFTDI24</lei>
        <title>HOST HOTELS &amp; RESORTS INC REIT USD.01</title>
        <cusip>44107P104</cusip>
        <identifiers>
          <ticker value="HST"/>
          <other otherDesc="Internal Identifier" value="29888"/>
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        <balance>1500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24510000.00000000</valUSD>
        <pctVal>0.633101995529</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>VODAFONE GROUP PLC ORD GBP.2095</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>VODAFONE GROUP PLC ORD GBP.2095</title>
        <cusip>G93882192</cusip>
        <identifiers>
          <ticker value="VOD"/>
          <other otherDesc="Internal Identifier" value="367255"/>
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        <balance>10000000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.76382520"/>
        <valUSD>19642722.21000000</valUSD>
        <pctVal>0.507378483426</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>THE WILLIAMS COS INC 4.55% 06/24/2024</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>THE WILLIAMS COS INC 4.55% 06/24/2024</title>
        <cusip>969457BW9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="605748"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10930095.90000000</valUSD>
        <pctVal>0.282328254819</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Calumet Specialty Products Partners LP / Calumet Finance Corp 11% 04/15/2025 144A</name>
        <lei>N/A</lei>
        <title>Calumet Specialty Products Partners LP / Calumet Finance Corp 11% 04/15/2025 144A</title>
        <cusip>131477AT8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1013071"/>
        </identifiers>
        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22150200.00000000</valUSD>
        <pctVal>0.572147524332</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vistra Operations Co LLC 4.3% 07/15/2029 144A</name>
        <lei>549300ZH5GKBTJZ7NM23</lei>
        <title>Vistra Operations Co LLC 4.3% 07/15/2029 144A</title>
        <cusip>92840VAE2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="987636"/>
        </identifiers>
        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20619038.00000000</valUSD>
        <pctVal>0.532597066654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Truist Financial Corp FRN 03/01/2168 PERP</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp FRN 03/01/2168 PERP</title>
        <cusip>89832QAD1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="999210"/>
        </identifiers>
        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25796625.00000000</valUSD>
        <pctVal>0.666335975741</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.80000000</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>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>16015773.30000000</valUSD>
        <pctVal>0.413693106331</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ANTHEM INC 3.65% 12/01/2027</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>ANTHEM INC 3.65% 12/01/2027</title>
        <cusip>036752AB9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="678814"/>
        </identifiers>
        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10811028.50000000</valUSD>
        <pctVal>0.279252701635</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.65000000</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>MORGAN STANLEY 3.125% 01/23/2023</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY 3.125% 01/23/2023</title>
        <cusip>61744YAN8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="683026"/>
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        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20758758.40000000</valUSD>
        <pctVal>0.536206094155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GOVT NATL MORTG ASSN 3.5% 09/20/2049 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GOVT NATL MORTG ASSN 3.5% 09/20/2049 SF2</title>
        <cusip>36179UZT2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1009873"/>
        </identifiers>
        <balance>9538809.61000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9870481.17000000</valUSD>
        <pctVal>0.254958030418</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>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>MSFT 6.00% ELN ISSUED BY MERRILL LYNCH INTERNATIONAL &amp; CO. C.V 6.00% ELN  05/04/2020</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
        <title>MSFT 6.00% ELN ISSUED BY MERRILL LYNCH INTERNATIONAL &amp; CO. C.V 6.00% ELN  05/04/2020</title>
        <cusip>59027A508</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="978595"/>
        </identifiers>
        <balance>340000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>49389251.36000000</valUSD>
        <pctVal>1.275741884689</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>BBVA USA 3.875% 04/10/2025</name>
        <lei>C90VT034M03BN29IRA40</lei>
        <title>BBVA USA 3.875% 04/10/2025</title>
        <cusip>20453KAA3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="601320"/>
        </identifiers>
        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15975344.40000000</valUSD>
        <pctVal>0.412648813501</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</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>Bausch Health Cos Inc 5.875% 05/15/2023 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 5.875% 05/15/2023 144A</title>
        <cusip>91831AAB7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="599699"/>
        </identifiers>
        <balance>461000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>465321.88000000</valUSD>
        <pctVal>0.012019429244</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO 5.00% 1/1/2169 PERP *FORMERLY FIXED*</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO 5.00% 1/1/2169 PERP *FORMERLY FIXED*</title>
        <cusip>48127FAA1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="577971"/>
        </identifiers>
        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15137175.00000000</valUSD>
        <pctVal>0.390998600537</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.22938000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>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>66180000.00000000</valUSD>
        <pctVal>1.709452878994</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>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>31322220.00000000</valUSD>
        <pctVal>0.809064054933</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>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <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"/>
        </identifiers>
        <balance>6300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6493441.50000000</valUSD>
        <pctVal>0.167727897654</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>SPDR S&amp;P 500 ETF TRUST STRIKE 300 EXPIRES 06/19/20 PUTS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="SPY 6 P300"/>
          <other otherDesc="Internal Identifier" value="1009878"/>
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        <balance>10000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>6390000.00000000</valUSD>
        <pctVal>0.165055967010</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>MERRILL LYNCH INTERNATIONAL</counterpartyName>
              <counterpartyLei>GGDZP1UYGU9STUHRDP48</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>SPDR S&amp;P 500 ETF TRUST STRIKE 300 EXPIRES 06/19/20 PUTS</issuerName>
                <issueTitle>SPDR S&amp;P 500 ETF TRUST STRIKE 300 EXPIRES 06/19/20 PUTS</issueTitle>
                <identifiers>
                  <cusip value="78462F103"/>
                  <isin value="US78462F1030"/>
                  <ticker value="SPY 6 P300"/>
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            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>300</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-06-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-9420381</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC 4.125% 07/25/2028</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 4.125% 07/25/2028</title>
        <cusip>172967KU4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="640849"/>
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        <balance>20000000.00000000</balance>
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      <invstOrSec>
        <name>ASHTEAD CAPITAL INC 4.125% 08/15/2025 144A</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>MORGAN STANLEY COM USD.01</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>DELL INTERNATIONAL LLC / EMC CORP 4.42% 06/15/2021 144A</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Walmart Inc 3.25% 07/08/2029</name>
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        <title>Walmart Inc 3.25% 07/08/2029</title>
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          <other otherDesc="Internal Identifier" value="977550"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>BARCLAYS PLC ORD GBP.25</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ANALOG DEVICES INC COM USD.167</name>
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        <title>ANALOG DEVICES INC COM USD.167</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>GOVT NATL MORTG ASSN 4% 11/20/2049 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
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        <invCountry>US</invCountry>

        <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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      <invstOrSec>
        <name>NAVIENT CORP 6.125% 03/25/2024</name>
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        <cusip>78442FET1</cusip>
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          <other otherDesc="Internal Identifier" value="573209"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>NESTLE SA ORD USD.1 REGD</name>
        <lei>KY37LUS27QQX7BB93L28</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>LOCKHEED MARTIN CORP 3.55% 01/15/2026</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
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        <cusip>539830BH1</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>BANK OF AMERICA CORP COM USD.01</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <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>
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        <issuerCat>RF</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Freeport-McMoRan Inc 5.25% 09/01/29</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan Inc 5.25% 09/01/29</title>
        <cusip>35671DCD5</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ROYAL DUTCH SHELL PLC SPONSORED ADR A</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>ROYAL DUTCH SHELL PLC SPONSORED ADR A</title>
        <cusip>780259206</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SIRIUS XM RADIO INC 5.375% 04/15/2025 144A</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>SIRIUS XM RADIO INC 5.375% 04/15/2025 144A</title>
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        <fairValLevel>2</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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        <valUSD>25069932.00000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>JPMorgan Chase &amp; Co PRF USD 6.00% SER EE *JPM C*</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co PRF USD 6.00% SER EE *JPM C*</title>
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      <invstOrSec>
        <name>Williams Cos Inc/The 3.60% 03/15/2022</name>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORP 4% 10/01/2049 FNL</name>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co 3.4% 07/26/2029 144A</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOEING CO COM USD5</name>
        <lei>RVHJWBXLJ1RFUBSY1F30</lei>
        <title>BOEING CO COM USD5</title>
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          <ticker value="BA"/>
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        <assetCat>EC</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <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>
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          <other otherDesc="Internal Identifier" value="585537"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>GOVT NATL MORTG ASSN 4% 12/20/2049 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GOVT NATL MORTG ASSN 4% 12/20/2049 SF2</title>
        <cusip>36179VBH2</cusip>
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          <other otherDesc="Internal Identifier" value="1030208"/>
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        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>DOLLAR GENERAL CORP 3.875% 04/15/2027</name>
        <lei>OPX52SQVOZI8IVSWYU66</lei>
        <title>DOLLAR GENERAL CORP 3.875% 04/15/2027</title>
        <cusip>256677AE5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="663135"/>
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        <balance>10000000.00000000</balance>
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        <valUSD>10994539.70000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>AMERICAN TOWER CORP 3.375% 10/15/2026</name>
        <lei>5493006ORUSIL88JOE18</lei>
        <title>AMERICAN TOWER CORP 3.375% 10/15/2026</title>
        <cusip>03027XAK6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="633828"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15961207.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FEDERAL HOME LOAN MORTGAGE CORP 4% 09/01/2049 FNL</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>FEDERAL HOME LOAN MORTGAGE CORP 4% 09/01/2049 FNL</title>
        <cusip>3132DV3V5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1022189"/>
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        <balance>809393.13000000</balance>
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        <curCd>USD</curCd>
        <valUSD>850058.93000000</valUSD>
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        <issuerCat>USGA</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BIOGEN INC 3.625% 09/15/2022</name>
        <lei>W8J5WZB5IY3K0NDQT671</lei>
        <title>BIOGEN INC 3.625% 09/15/2022</title>
        <cusip>09062XAE3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="612762"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10467349.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CHS/Community Health Systems Inc 6.625% 02/15/2025 144A</name>
        <lei>5493007X5NC5XI1BB106</lei>
        <title>CHS/Community Health Systems Inc 6.625% 02/15/2025 144A</title>
        <cusip>12543DBF6</cusip>
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          <other otherDesc="Internal Identifier" value="1040541"/>
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        <valUSD>25317000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>BOEING CO STRIKE 380 EXPIRES 02/21/20 CALLS</title>
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          <ticker value="BA 2 C380"/>
          <other otherDesc="Internal Identifier" value="1026614"/>
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        <valUSD>-5000.00000000</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>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>
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          <other otherDesc="Internal Identifier" value="984377"/>
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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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        <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"/>
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        <balance>743000.00000000</balance>
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        <valUSD>35226213.26000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <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"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10434900.00000000</valUSD>
        <pctVal>0.269537169039</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AT&amp;T INC COM USD1</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC COM USD1</title>
        <cusip>00206R102</cusip>
        <identifiers>
          <ticker value="T"/>
          <other otherDesc="Internal Identifier" value="1918"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>37620000.00000000</valUSD>
        <pctVal>0.971737946626</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>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>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <valUSD>-100000.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>RBC Capital Markets LLC</counterpartyName>
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            <writtenOrPur>Written</writtenOrPur>
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            <unrealizedAppr>404845.33</unrealizedAppr>
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      <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"/>
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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>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>11106299.10000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-11-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.18300000</annualizedRt>
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      <invstOrSec>
        <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>
        <identifiers>
          <other otherDesc="Internal Identifier" value="989519"/>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>39712855.39000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CHESAPEAKE ENERGY CORP 6.5% 06/23/2024 Class A Loan</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>CHESAPEAKE ENERGY CORP 6.5% 06/23/2024 Class A Loan</title>
        <cusip>16516FAH2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1028081"/>
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        <balance>20000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20025000.00000000</valUSD>
        <pctVal>0.517252854364</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>9.92775000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE 4% 01/01/2050 FNL</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE 4% 01/01/2050 FNL</title>
        <cusip>31418DKV3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1034361"/>
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        <balance>4252187.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4462236.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-01</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>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MICROCHIP TECHNOLOGY INC 4.333% 06/01/2023</name>
        <lei>5493007PTFULNYZJ1R12</lei>
        <title>MICROCHIP TECHNOLOGY INC 4.333% 06/01/2023</title>
        <cusip>595017AP9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="987864"/>
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        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16033193.40000000</valUSD>
        <pctVal>0.414143073694</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.33300000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <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"/>
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        <balance>1100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>53570000.00000000</valUSD>
        <pctVal>1.383732105284</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FORD MOTOR CO COM USD.01</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>FORD MOTOR CO COM USD.01</title>
        <cusip>345370860</cusip>
        <identifiers>
          <ticker value="F"/>
          <other otherDesc="Internal Identifier" value="191495"/>
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        <balance>2500000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22050000.00000000</valUSD>
        <pctVal>0.569559322783</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>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>
          <other otherDesc="Internal Identifier" value="658135"/>
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        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15702750.00000000</valUSD>
        <pctVal>0.405607603439</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>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>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21162638.80000000</valUSD>
        <pctVal>0.546638468174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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      <invstOrSec>
        <name>PROCTER &amp; GAMBLE CO 2.70% 02/02/2026</name>
        <lei>2572IBTT8CCZW6AU4141</lei>
        <title>PROCTER &amp; GAMBLE CO 2.70% 02/02/2026</title>
        <cusip>742718EP0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="625082"/>
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        <balance>25000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26535434.00000000</valUSD>
        <pctVal>0.685419674322</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-02-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</annualizedRt>
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      <invstOrSec>
        <name>KRAFT HEINZ FOODS CO 3.00% 06/01/2026</name>
        <lei>5493003STKEZ2S0RNU91</lei>
        <title>KRAFT HEINZ FOODS CO 3.00% 06/01/2026</title>
        <cusip>50077LAD8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="642508"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15265921.05000000</valUSD>
        <pctVal>0.394324156685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <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>
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          <other otherDesc="Internal Identifier" value="686670"/>
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        <balance>25000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26306375.00000000</valUSD>
        <pctVal>0.679502999088</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-O</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.73800000</annualizedRt>
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      <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"/>
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        <balance>260000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>47276979.36000000</valUSD>
        <pctVal>1.221181149548</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>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>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21006285.62000000</valUSD>
        <pctVal>0.542599810064</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>
          <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>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"/>
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        <balance>550000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34166000.00000000</valUSD>
        <pctVal>0.882519901234</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>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>
        <cusip>94980V298</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="978412"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>36584209.80000000</valUSD>
        <pctVal>0.944983118288</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>United States Treasury Note/Bond 2.25% 03/31/2020</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond 2.25% 03/31/2020</title>
        <cusip>9128284C1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="687341"/>
        </identifiers>
        <balance>100000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100095919.00000000</valUSD>
        <pctVal>2.585513099277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-03-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SEMPRA ENERGY COM USD NPV</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>SEMPRA ENERGY COM USD NPV</title>
        <cusip>816851109</cusip>
        <identifiers>
          <ticker value="SRE"/>
          <other otherDesc="Internal Identifier" value="36700"/>
        </identifiers>
        <balance>59000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9477760.00000000</valUSD>
        <pctVal>0.244813903270</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>GOVT NATL MORTG ASSN 3.5% 10/20/2049 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GOVT NATL MORTG ASSN 3.5% 10/20/2049 SF2</title>
        <cusip>36179U4C3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1016565"/>
        </identifiers>
        <balance>9579063.72000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9917569.15000000</valUSD>
        <pctVal>0.256174329647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-10-20</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>Fiserv Inc 4.2% 10/01/2028</name>
        <lei>GI7UBEJLXYLGR2C7GV83</lei>
        <title>Fiserv Inc 4.2% 10/01/2028</title>
        <cusip>337738AR9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="933173"/>
        </identifiers>
        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>22613000.60000000</valUSD>
        <pctVal>0.584101828020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>THE WILLIAMS COS INC COM USD1</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>THE WILLIAMS COS INC COM USD1</title>
        <cusip>969457100</cusip>
        <identifiers>
          <ticker value="WMB"/>
          <other otherDesc="Internal Identifier" value="26547"/>
        </identifiers>
        <balance>850000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17586500.00000000</valUSD>
        <pctVal>0.454265534246</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>Dollar Tree Inc 4% 05/15/2025</name>
        <lei>549300PMSTQITB1WHR43</lei>
        <title>Dollar Tree Inc 4% 05/15/2025</title>
        <cusip>256746AG3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="868507"/>
        </identifiers>
        <balance>15000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16256292.60000000</valUSD>
        <pctVal>0.419905805180</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>4.00000000</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>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"/>
        </identifiers>
        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20479200.00000000</valUSD>
        <pctVal>0.528985001503</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</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>United States Treasury Note/Bond 2.875% 10/31/2023</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond 2.875% 10/31/2023</title>
        <cusip>9128285K2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="939661"/>
        </identifiers>
        <balance>50000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>52849609.50000000</valUSD>
        <pctVal>1.365124163093</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</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>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>280000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>41683600.00000000</valUSD>
        <pctVal>1.076702176289</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>SLB 9.0% ELN Issued by Societe Generale 9.0% ELN 2/1/2021</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SLB 9.0% ELN Issued by Societe Generale 9.0% ELN 2/1/2021</title>
        <cusip>83369J570</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1038325"/>
        </identifiers>
        <balance>715000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24656312.40000000</valUSD>
        <pctVal>0.636881296729</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TORONTO-DOMINION BANK ORD NPV</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TORONTO-DOMINION BANK ORD NPV</title>
        <cusip>891160509</cusip>
        <identifiers>
          <ticker value="TD"/>
          <other otherDesc="Internal Identifier" value="201256"/>
        </identifiers>
        <balance>415000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>22932900.00000000</valUSD>
        <pctVal>0.592364943014</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>FANNIE MAE 4% 08/01/2049 FNL</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE 4% 08/01/2049 FNL</title>
        <cusip>3140QBMZ8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1022193"/>
        </identifiers>
        <balance>3218198.51000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3446147.44000000</valUSD>
        <pctVal>0.089015210981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</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>United States Treasury Note/Bond 2.75% 09/30/2020</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond 2.75% 09/30/2020</title>
        <cusip>9128285B2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="933589"/>
        </identifiers>
        <balance>100000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>100773438.00000000</valUSD>
        <pctVal>2.603013655413</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>GENERAL DYNAMICS CORP STRIKE 190 EXPIRES 02/21/20 CALLS</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="GD 2 C190"/>
          <other otherDesc="Internal Identifier" value="1033545"/>
        </identifiers>
        <balance>-1000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-10000.00000000</valUSD>
        <pctVal>-0.00025830354</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>Credit Suisse Securities (Europe) Ltd.</counterpartyName>
              <counterpartyLei>DL6FFRRLF74S01HE2M14</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>GENERAL DYNAMICS CORP STRIKE 190 EXPIRES 02/21/20 CALLS</issuerName>
                <issueTitle>GENERAL DYNAMICS CORP STRIKE 190 EXPIRES 02/21/20 CALLS</issueTitle>
                <identifiers>
                  <cusip value="369550108"/>
                  <isin value="US3695501086"/>
                  <ticker value="GD 2 C190"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>100.00000000</shareNo>
            <exercisePrice>190</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2020-02-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>179677.25</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <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>2020-02-29</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>
  <documents>XXXX</documents>
</edgarSubmission>
