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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Fannie Mae</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TerraForm Power Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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        <name>GRAY TELEVISION INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>LEVEL 3 FINANCING INC</name>
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          <isin value="US527298BQ51"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-11-15</maturityDt>
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      <invstOrSec>
        <name>Sun Communities Inc</name>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GLOBAL PAYMENTS INC</name>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>50868.06000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.20000000</annualizedRt>
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      <invstOrSec>
        <name>NEWFIELD EXPLORATION CO</name>
        <lei>T8W3X1PFLPW2YE0UIP44</lei>
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        <balance>423000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-01-01</maturityDt>
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      <invstOrSec>
        <name>MORGAN STANLEY</name>
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        <title>Morgan Stanley</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>VISHAY INTERTECHNOLOGY</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BAUSCH HEALTH COS INC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <title>FTI Consulting Inc</title>
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              <title>Verint Systems Inc</title>
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        <name>CHARLES RIVER LABORATORI</name>
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        <title>Charles River Laboratories International Inc</title>
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        <name>MERION THE LEDGES</name>
        <lei>N/A</lei>
        <title>MERION THE LEDGES</title>
        <cusip>000000000</cusip>
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        <balance>3970235.40000000</balance>
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        <valUSD>3589886.85000000</valUSD>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VODAFONE GROUP PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group PLC</title>
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          <isin value="US92857WBU36"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>114587.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-09-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Conagra Brands Inc</name>
        <lei>54930035UDEIH090K650</lei>
        <title>Conagra Brands Inc</title>
        <cusip>205887102</cusip>
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          <isin value="US2058871029"/>
          <ticker value="CAG"/>
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        <balance>239000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6899930.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHARTER COMM OPT LLC/CAP</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC / Charter Communications Operating Capital</title>
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          <isin value="US161175BR49"/>
          <other otherDesc="Sedol" value="BH420W2"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>112756.58000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Allstate Corp/The</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
        <title>Allstate Corp/The</title>
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          <ticker value="ALL"/>
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        <balance>58400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6502840.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co</title>
        <cusip>46625H100</cusip>
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          <isin value="US46625H1005"/>
          <ticker value="JPM"/>
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        <balance>46207.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6088234.32000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHENIERE ENERGY INC</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
        <title>Cheniere Energy Inc</title>
        <cusip>16411RAG4</cusip>
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          <isin value="US16411RAG48"/>
          <other otherDesc="Sedol" value="BVVQC07"/>
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        <balance>2892000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2284750.56000000</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>2045-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Cheniere Energy Inc</name>
              <title>Cheniere Energy Inc</title>
              <curCd>USD</curCd>
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                <cusip value="16411R208"/>
                <isin value="US16411R2085"/>
                <ticker value="LNG"/>
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          <currencyInfos>
            <currencyInfo convRatio="7.22650000" curCd="USD"/>
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        <securityLending>
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      <invstOrSec>
        <name>GS Mortgage Securities Trust</name>
        <lei>N/A</lei>
        <title>GS Mortgage Securities Trust 2019-GC42</title>
        <cusip>36257UAL1</cusip>
        <identifiers>
          <isin value="US36257UAL17"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>258606.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00050000</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>LOWE'S COS INC</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos Inc</title>
        <cusip>548661DQ7</cusip>
        <identifiers>
          <isin value="US548661DQ70"/>
          <other otherDesc="Sedol" value="BYWC120"/>
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        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5379.09000000</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>2047-05-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>E*TRADE FINANCIAL CORP</name>
        <lei>549300LYE2HSVYJFJD24</lei>
        <title>E*TRADE Financial Corp</title>
        <cusip>269246BN3</cusip>
        <identifiers>
          <isin value="US269246BN31"/>
          <other otherDesc="Sedol" value="BZBZ4V7"/>
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        <balance>530000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>555670.55000000</valUSD>
        <pctVal>0.108562487907</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>Floating</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Lowe's Cos Inc</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos Inc</title>
        <cusip>548661107</cusip>
        <identifiers>
          <isin value="US5486611073"/>
          <ticker value="LOW"/>
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        <balance>58100.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6815711.00000000</valUSD>
        <pctVal>1.331599349680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ALLY FINANCIAL INC</name>
        <lei>549300JBN1OSM8YNAI90</lei>
        <title>Ally Financial Inc</title>
        <cusip>02005NBF6</cusip>
        <identifiers>
          <isin value="US02005NBF69"/>
          <other otherDesc="SEDOL" value="BDCBVG4"/>
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        <balance>798000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>880792.50000000</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>2025-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JEFFERIES GROUP LLC</name>
        <lei>NY9Q8VBNB6D1L6YV0J84</lei>
        <title>Jefferies Group LLC</title>
        <cusip>472319AM4</cusip>
        <identifiers>
          <isin value="US472319AM43"/>
          <other otherDesc="Sedol" value="B9CT5D5"/>
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        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5938.90000000</valUSD>
        <pctVal>0.001160294997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>BBVA BANCOMER SA TEXAS</name>
        <lei>549300WIWQK5Q9MCUN92</lei>
        <title>BBVA Bancomer SA/Texas</title>
        <cusip>05533UAF5</cusip>
        <identifiers>
          <isin value="US05533UAF57"/>
          <other otherDesc="Sedol" value="BFY0TP8"/>
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        <balance>384000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>379209.60000000</valUSD>
        <pctVal>0.074086952447</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2033-01-18</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>METHANEX CORP</name>
        <lei>549300TSJHRXT9QXRD13</lei>
        <title>Methanex Corp</title>
        <cusip>59151KAL2</cusip>
        <identifiers>
          <isin value="US59151KAL26"/>
          <other otherDesc="SEDOL" value="BK7CRF2"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>188343.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NOBLE ENERGY INC</name>
        <lei>02VFQXG2D1LR5ZH3K186</lei>
        <title>Noble Energy Inc</title>
        <cusip>655044AQ8</cusip>
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          <isin value="US655044AQ82"/>
          <other otherDesc="SEDOL" value="BJLBJV8"/>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>84361.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MONGOLIA INTL BOND</name>
        <lei>N/A</lei>
        <title>Mongolia Government International Bond</title>
        <cusip>60937LAB1</cusip>
        <identifiers>
          <isin value="US60937LAB18"/>
          <other otherDesc="Sedol" value="BD6TQL4"/>
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        <balance>393000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>403483.28000000</valUSD>
        <pctVal>0.078829350783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>MN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</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>VIACOM INC</name>
        <lei>X0ST5BPF0CZG9FE5OV61</lei>
        <title>Viacom Inc</title>
        <cusip>92553PAP7</cusip>
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          <isin value="US92553PAP71"/>
          <other otherDesc="Sedol" value="BCHWWF1"/>
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        <balance>180000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>186235.06000000</valUSD>
        <pctVal>0.036385123251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</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>REPUBLIC OF UZBEKISTAN</name>
        <lei>213800L6VDKUM3TCM927</lei>
        <title>Republic of Uzbekistan Bond</title>
        <cusip>91822Q2B2</cusip>
        <identifiers>
          <isin value="US91822Q2B25"/>
          <other otherDesc="SEDOL" value="BHZQ1B9"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>263061.75000000</valUSD>
        <pctVal>0.051394910263</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>UZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Hercules Capital Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TIME WARNER ENT</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EMERA INC</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Aberdeen Total Dynamic Dividend Fund</name>
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        <title>Aberdeen Total Dynamic Dividend Fund</title>
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          <ticker value="AOD"/>
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        <issuerCat>RF</issuerCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CDK GLOBAL INC</name>
        <lei>5493000L10CYRTHIJ385</lei>
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          <isin value="US12508EAD31"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AVIS BUDGET CAR/FINANCE</name>
        <lei>N/A</lei>
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          <isin value="US053773BB26"/>
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        <balance>104000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>108593.16000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bank of America Corp</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
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          <isin value="US0605051046"/>
          <ticker value="BAC"/>
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        <curCd>USD</curCd>
        <valUSD>4801245.40000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PALM BEACH CNTY FL HLTH FACS A</name>
        <lei>N/A</lei>
        <title>Palm Beach County Health Facilities Authority</title>
        <cusip>696507TB8</cusip>
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          <isin value="US696507TB82"/>
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        <balance>65000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>73084.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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      <invstOrSec>
        <name>POST HOLDINGS INC</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings Inc</title>
        <cusip>737446AK0</cusip>
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          <isin value="US737446AK05"/>
          <other otherDesc="Sedol" value="BYYQNZ7"/>
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        <balance>311000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>327266.08000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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          <isin value="US6174467X10"/>
          <other otherDesc="Sedol" value="BGN2MV9"/>
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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>107047.77000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
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          <isin value="US060505EL47"/>
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        <balance>440000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>498614.60000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>Front Yard Residential Corp</name>
        <lei>N/A</lei>
        <title>Front Yard Residential Corp</title>
        <cusip>35904G107</cusip>
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          <isin value="US35904G1076"/>
          <ticker value="RESI"/>
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        <balance>100206.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ASHTEAD CAPITAL INC</name>
        <lei>213800J1134IW58IC398</lei>
        <title>Ashtead Capital Inc</title>
        <cusip>045054AH6</cusip>
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          <isin value="US045054AH68"/>
          <other otherDesc="Sedol" value="BZ0WKK0"/>
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        <balance>570000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>610451.48000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>ANHEUSER-BUSCH CO/INBEV</name>
        <lei>N/A</lei>
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          <other otherDesc="Sedol" value="BK9VNF9"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp</title>
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          <other otherDesc="Sedol" value="BHWF896"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Sun Hung Kai Properties Ltd</name>
        <lei>529900LUMD393RD3S874</lei>
        <title>Sun Hung Kai Properties Ltd</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp</title>
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        <balance>25000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>KNOWLES CORP</name>
        <lei>5493003EO323TDZQU148</lei>
        <title>Knowles Corp</title>
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          <other otherDesc="Sedol" value="BYP7854"/>
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        <balance>973000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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            <dbtSecRefInstrument>
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      </invstOrSec>
      <invstOrSec>
        <name>MURPHY OIL USA INC</name>
        <lei>N32S6DTR2ZZ5222WHV58</lei>
        <title>Murphy Oil USA Inc</title>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CITY OF CHICAGO IL</name>
        <lei>T5UYO5SYLC8K73MJQX30</lei>
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          <isin value="US167486VN65"/>
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        <issuerCat>MUN</issuerCat>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2040-01-01</maturityDt>
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      <invstOrSec>
        <name>RUTAS 2 AND 7 FINANCE</name>
        <lei>N/A</lei>
        <title>Rutas 2 and 7 Finance Ltd</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-09-30</maturityDt>
          <couponKind>None</couponKind>
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      <invstOrSec>
        <name>COTT HOLDINGS INC</name>
        <lei>N/A</lei>
        <title>Cott Holdings Inc</title>
        <cusip>221644AA5</cusip>
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          <isin value="US221644AA51"/>
          <other otherDesc="Sedol" value="BD9GGV2"/>
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        <balance>272000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-04-01</maturityDt>
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      <invstOrSec>
        <name>TENET HEALTHCARE CORP</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp</title>
        <cusip>88033GCU2</cusip>
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          <isin value="US88033GCU22"/>
          <other otherDesc="Sedol" value="BF115T0"/>
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        <balance>345000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>355350.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-05-01</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>ALTICE FRANCE SA</name>
        <lei>5493001ZMCICV4N02J21</lei>
        <title>Altice France SA/France</title>
        <cusip>67054KAA7</cusip>
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          <isin value="US67054KAA79"/>
          <other otherDesc="Sedol" value="BZ8G2W0"/>
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        <balance>565000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>604564.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.37500000</annualizedRt>
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      <invstOrSec>
        <name>Verizon Communications Inc</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications Inc</title>
        <cusip>92343V104</cusip>
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          <isin value="US92343V1044"/>
          <ticker value="VZ"/>
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        <curCd>USD</curCd>
        <valUSD>6554112.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>KAZMUNAYGAS NATIONAL CO</name>
        <lei>2138001H1M69RFJCSH88</lei>
        <title>KazMunayGas National Co JSC</title>
        <cusip>48667QAQ8</cusip>
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          <isin value="US48667QAQ82"/>
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        <balance>524000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>604014.80000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>KZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>SYNAPTICS INC</name>
        <lei>549300AJ3LI4FWNRQX29</lei>
        <title>Synaptics Inc</title>
        <cusip>87157DAD1</cusip>
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          <isin value="US87157DAD12"/>
          <other otherDesc="Sedol" value="BFZ6QL0"/>
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        <balance>1678000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1747449.23000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-15</maturityDt>
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          <annualizedRt>0.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Synaptics Inc</name>
              <title>Synaptics Inc</title>
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                <ticker value="SYNA"/>
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      <invstOrSec>
        <name>NEW JERSEY ST TRANSPRTN TRUST</name>
        <lei>549300YUVD5TEXR6L889</lei>
        <title>New Jersey Transportation Trust Fund Authority</title>
        <cusip>646136U74</cusip>
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          <isin value="US646136U742"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1091000.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-06-15</maturityDt>
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      <invstOrSec>
        <name>Kerry Group PLC</name>
        <lei>635400TLVVBNXLFHWC59</lei>
        <title>Kerry Group PLC</title>
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          <ticker value="KYG"/>
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        <invCountry>IE</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>SIRIUS XM RADIO INC</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio Inc</title>
        <cusip>82967NAU2</cusip>
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          <other otherDesc="Sedol" value="BW9RT97"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>BLACKSTONE MORTGAGE TR</name>
        <lei>549300OLDJ20R2Y2UW20</lei>
        <title>Blackstone Mortgage Trust Inc</title>
        <cusip>09257WAC4</cusip>
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          <other otherDesc="Sedol" value="BFWMKH5"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <title>Blackstone Mortgage Trust Inc</title>
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                <ticker value="BXMT"/>
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      <invstOrSec>
        <name>Retail Properties of America I</name>
        <lei>549300OVTYLM7DH6CM14</lei>
        <title>Retail Properties of America Inc</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Novo Nordisk A/S</name>
        <lei>549300DAQ1CVT6CXN342</lei>
        <title>Novo Nordisk A/S</title>
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          <isin value="DK0060534915"/>
          <ticker value="NOVOB"/>
          <other otherDesc="SEDOL" value="BHC8X90"/>
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        <invCountry>DK</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>CenturyLink Inc</name>
        <lei>8M3THTGWLTYZVE6BBY25</lei>
        <title>CenturyLink Inc</title>
        <cusip>156700106</cusip>
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          <ticker value="CTL"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CSC HOLDINGS LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
        <title>CSC Holdings LLC</title>
        <cusip>126307AY3</cusip>
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          <other otherDesc="Sedol" value="BGSQL08"/>
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        <balance>400000.00000000</balance>
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        <valUSD>451429.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>CONLEY ROAD TRANSPRTN DEV DIST</name>
        <lei>N/A</lei>
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          <isin value="US207380AC07"/>
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        <curCd>USD</curCd>
        <valUSD>522735.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-05-01</maturityDt>
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      <invstOrSec>
        <name>GENERAL MOTORS FINL CO</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co Inc</title>
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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Prologis Inc</name>
        <lei>529900DFH19P073LZ636</lei>
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          <isin value="US74340W1036"/>
          <ticker value="PLD"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SS&amp;C TECHNOLOGIES INC</name>
        <lei>549300KY09TR3J12JU49</lei>
        <title>SS&amp;C Technologies Inc</title>
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          <isin value="US78466CAC01"/>
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        <balance>660000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-30</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>Publicis Groupe SA</name>
        <lei>2138004KW8BV57III342</lei>
        <title>Publicis Groupe SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000130577"/>
          <ticker value="PUB"/>
          <other otherDesc="SEDOL" value="4380429"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>POLAND GOVERNMENT BOND</name>
        <lei>259400R9L8QEP0TPXS31</lei>
        <title>Republic of Poland Government Bond</title>
        <cusip>000000000</cusip>
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          <isin value="PL0000109492"/>
          <other otherDesc="SEDOL" value="BD2Z8F4"/>
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        <balance>1524000.00000000</balance>
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        <currencyConditional curCd="PLN" exchangeRt="3.91670000"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>PL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ZAYO GROUP LLC/ZAYO CAP</name>
        <lei>N/A</lei>
        <title>Zayo Group LLC / Zayo Capital Inc</title>
        <cusip>989194AP0</cusip>
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          <isin value="US989194AP01"/>
          <other otherDesc="Sedol" value="BYV2831"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>15342.71000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BMC EAST LLC</name>
        <lei>N/A</lei>
        <title>BMC East LLC</title>
        <cusip>055604AA0</cusip>
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          <isin value="US055604AA02"/>
          <other otherDesc="Sedol" value="BYM79S7"/>
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        <balance>163000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>169791.40000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>EMPRESAS PUBLIC MEDELLIN</name>
        <lei>549300SU25TO8EMXB434</lei>
        <title>Empresas Publicas de Medellin ESP</title>
        <cusip>29246BAE8</cusip>
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          <isin value="US29246BAE83"/>
          <other otherDesc="Sedol" value="BJ9MNQ6"/>
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        <balance>387000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>399711.98000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LAMAR MEDIA CORP</name>
        <lei>N/A</lei>
        <title>Lamar Media Corp</title>
        <cusip>513075BH3</cusip>
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          <isin value="US513075BH36"/>
          <other otherDesc="Sedol" value="BRJ93W9"/>
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        <balance>155000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>158873.45000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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      <invstOrSec>
        <name>HCA INC</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA Inc</title>
        <cusip>19767QAQ8</cusip>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>HD SUPPLY INC</name>
        <lei>549300G8FYZDYZMZED76</lei>
        <title>HD Supply Inc</title>
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        <balance>290000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
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        <name>VECTOR GROUP LTD</name>
        <lei>549300TUIF4WWN6NDN50</lei>
        <title>Vector Group Ltd</title>
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          <other otherDesc="Sedol" value="BKX55K6"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <title>Vector Group Ltd</title>
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        <name>MONTGOMERY CNTY PA INDL DEV AU</name>
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        <title>MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY/PA</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>APPLE INC</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>T-MOBILE USA INC</name>
        <lei>N/A</lei>
        <title>T-MOBILE USA INC</title>
        <cusip>000000000</cusip>
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        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VICI Properties Inc</name>
        <lei>254900RKH6RY9KCJQH63</lei>
        <title>VICI Properties Inc</title>
        <cusip>925652109</cusip>
        <identifiers>
          <isin value="US9256521090"/>
          <ticker value="VICI"/>
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        <balance>67980.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1681145.40000000</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>
      <invstOrSec>
        <name>VODAFONE GROUP PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group PLC</title>
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          <isin value="US92857WBS89"/>
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        <balance>40000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>45505.01000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-06-19</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>Banco Espirito Santo SA</name>
        <lei>635400JV7IJL16OWIT96</lei>
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          <isin value="PTBES0AM0007"/>
          <ticker value="BES"/>
          <other otherDesc="SEDOL" value="4058061"/>
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        <currencyConditional curCd="EUR" exchangeRt="0.90768811"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
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        <fairValLevel>3</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>UNITED RENTALS NORTH AM</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>United Rentals North America Inc</title>
        <cusip>911365BF0</cusip>
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          <isin value="US911365BF09"/>
          <other otherDesc="Sedol" value="BYX1YP0"/>
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        <balance>713000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>762927.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CALIFORNIA ST</name>
        <lei>N/A</lei>
        <title>State of California</title>
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          <isin value="US13063CFT27"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1131880.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MERION COUNTRYSIDE L.P.</name>
        <lei>N/A</lei>
        <title>MERION COUNTRYSIDE L.P.</title>
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          <ticker value="MER PP"/>
          <other otherDesc="Internal" value="989989RES"/>
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        <curCd>USD</curCd>
        <valUSD>1889244.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NXP BV/NXP FUNDING LLC</name>
        <lei>N/A</lei>
        <title>NXP BV / NXP Funding LLC</title>
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          <isin value="US62947QAZ19"/>
          <other otherDesc="Sedol" value="BHNK8G7"/>
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        <balance>90000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>97786.27000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</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>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>Johnson &amp; Johnson</title>
        <cusip>478160104</cusip>
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          <isin value="US4781601046"/>
          <ticker value="JNJ"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6874500.00000000</valUSD>
        <pctVal>1.343085076432</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TEAM INC</name>
        <lei>549300DEKHQ3OEQJWU96</lei>
        <title>Team Inc</title>
        <cusip>878155AE0</cusip>
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          <isin value="US878155AE06"/>
          <other otherDesc="Sedol" value="BFZ2JD1"/>
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        <balance>1514000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1586941.95000000</valUSD>
        <pctVal>0.310044083236</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Team Inc</name>
              <title>Team Inc</title>
              <curCd>USD</curCd>
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                <cusip value="878155100"/>
                <isin value="US8781551002"/>
                <ticker value="TISI"/>
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          <currencyInfos>
            <currencyInfo convRatio="46.08290000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US CONCRETE INC</name>
        <lei>549300J94Q38BL8BMH45</lei>
        <title>US Concrete Inc</title>
        <cusip>90333LAP7</cusip>
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          <isin value="US90333LAP76"/>
          <other otherDesc="Sedol" value="BD8F3T7"/>
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        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10424.90000000</valUSD>
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        <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>6.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BUCKEYE OHIO TOBACCO SETTLEMENT FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY</title>
        <cusip>118217AS7</cusip>
        <identifiers>
          <isin value="US118217AS72"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1005690.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>COLORADO HEALTH FACILITIES AUTHORITY</name>
        <lei>5493002JB6DRFRZPEQ21</lei>
        <title>CO HLTH FACS AUTH-A</title>
        <cusip>19648AM85</cusip>
        <identifiers>
          <isin value="US19648AM851"/>
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        <balance>750000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>840540.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHART INDUSTRIES INC</name>
        <lei>EM7QGKC1GYOF3LSZSL80</lei>
        <title>Chart Industries Inc</title>
        <cusip>16115QAD2</cusip>
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          <isin value="US16115QAD25"/>
          <other otherDesc="Sedol" value="BYWSW70"/>
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        <balance>928000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1073045.10000000</valUSD>
        <pctVal>0.209643008240</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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              <title>Chart Industries Inc</title>
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                <isin value="US16115Q3083"/>
                <ticker value="GTLS"/>
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          <currencyInfos>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>SUZANO AUSTRIA GMBH</name>
        <lei>254900287ZNSGVP1R341</lei>
        <title>Suzano Austria GmbH</title>
        <cusip>86964WAF9</cusip>
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          <isin value="US86964WAF95"/>
          <other otherDesc="Sedol" value="BK777M4"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>555173.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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      <invstOrSec>
        <name>FREEPORT-MCMORAN INC</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan Inc</title>
        <cusip>35671DBL8</cusip>
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          <isin value="US35671DBL82"/>
          <other otherDesc="Sedol" value="BSM5SZ9"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>210692.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.55000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CUYAHOGA CNTY OH HOSP REVENUE</name>
        <lei>549300GHDK9DGLUNJU89</lei>
        <title>County of Cuyahoga OH</title>
        <cusip>2322655V6</cusip>
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          <isin value="US2322655V62"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1157850.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HOLOGIC INC</name>
        <lei>549300DYP6F5ZJL0LB74</lei>
        <title>Hologic Inc</title>
        <cusip>436440AM3</cusip>
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          <isin value="US436440AM32"/>
          <other otherDesc="Sedol" value="BFNJ923"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>317354.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>AMC ENTERTAINMENT HLDGS</name>
        <lei>549300ZO77UNR6NRBR11</lei>
        <title>AMC Entertainment Holdings Inc</title>
        <cusip>00165CAD6</cusip>
        <identifiers>
          <isin value="US00165CAD65"/>
          <other otherDesc="Sedol" value="BF2NLW0"/>
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        <balance>539000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>486460.98000000</valUSD>
        <pctVal>0.095040873155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MERION CAMPIONS WALK L. P.</name>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>Waste Management Inc</name>
        <lei>549300YX8JIID70NFS41</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>NETFLIX INC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DISCOVERY COMMUNICATIONS</name>
        <lei>L2Z2MO2EQURH3BREWI15</lei>
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          <isin value="US25470DBF50"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-05-15</maturityDt>
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        <name>Apartment Investment &amp; Managem</name>
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        <title>Apartment Investment &amp; Management Co</title>
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          <isin value="US03748R7540"/>
          <ticker value="AIV"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>BANK OF AMERICA CORP</name>
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        <title>Bank of America Corp</title>
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          <isin value="US0605056821"/>
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        <curCd>USD</curCd>
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        <fairValLevel>1</fairValLevel>
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        <name>STATE OF QATAR</name>
        <lei>52990074F6OJOAXK4P65</lei>
        <title>Qatar Government International Bond</title>
        <cusip>74727PBA8</cusip>
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          <isin value="US74727PBA84"/>
          <other otherDesc="Sedol" value="BH3W937"/>
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        <balance>367000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>409498.60000000</valUSD>
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        <invCountry>QA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>KANSAS CITY POWER &amp; LT</name>
        <lei>1128SIJQ26096WL7IO82</lei>
        <title>Evergy Metro Inc</title>
        <cusip>485134BP4</cusip>
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          <isin value="US485134BP44"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MURPHY OIL CORP</name>
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        <title>Murphy Oil Corp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>SAUDI ARABIAN OIL CO</name>
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        <title>Saudi Arabian Oil Co</title>
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        <fairValLevel>2</fairValLevel>
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        <name>J.P. MORGAN CHASE BANK NA</name>
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        <title>USD/ZAR FORWARD</title>
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          <ticker value="N/A"/>
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        <fairValLevel>2</fairValLevel>
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        <name>UNIVERSAL HEALTH SVCS</name>
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        <title>Universal Health Services Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>IVORY COAST</name>
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        <title>Ivory Coast Government International Bond</title>
        <cusip>000000000</cusip>
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        <invCountry>CI</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>VERIZON COMMUNICATIONS</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CSG SYSTEMS INTERNATIONA</name>
        <lei>549300D7FJZUOHHXUA81</lei>
        <title>CSG Systems International Inc</title>
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        <invCountry>US</invCountry>
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              <title>CSG Systems International Inc</title>
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                <ticker value="CSGS"/>
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        <name>MINERA MEXICO SA DE CV</name>
        <lei>N/A</lei>
        <title>Minera Mexico SA de CV</title>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>US BANCORP</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US Bancorp</title>
        <cusip>91159HHM5</cusip>
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          <isin value="US91159HHM51"/>
          <other otherDesc="Sedol" value="BD9XW37"/>
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        <balance>25000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26065.55000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CDW LLC/CDW FINANCE</name>
        <lei>N/A</lei>
        <title>CDW LLC / CDW Finance Corp</title>
        <cusip>12513GBC2</cusip>
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          <isin value="US12513GBC24"/>
          <other otherDesc="Sedol" value="BDH6BV9"/>
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        <balance>156000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>CAPITAL TRUST AGY FL STUDENT H</name>
        <lei>549300F49UWS7X0OGQ59</lei>
        <title>Capital Trust Agency Inc</title>
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          <isin value="US140536AD51"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1049690.00000000</valUSD>
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        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2058-12-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>RUSSIAN FEDERATION</name>
        <lei>5493004EHVGF71PDBU58</lei>
        <title>Russian Foreign Bond - Eurobond</title>
        <cusip>000000000</cusip>
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          <isin value="RU000A0JXTT7"/>
          <other otherDesc="SEDOL" value="BF1XJY9"/>
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        <balance>400000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>434800.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>RU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kao Corp</name>
        <lei>353800HM38HFCB8RGL63</lei>
        <title>Kao Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3205800000"/>
          <ticker value="4452"/>
          <other otherDesc="SEDOL" value="6483809"/>
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        <balance>4200.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="109.45500000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BENCHMARK Mortgage Trust</name>
        <lei>N/A</lei>
        <title>Benchmark 2019-B9 Mortgage Trust</title>
        <cusip>08160JAE7</cusip>
        <identifiers>
          <isin value="US08160JAE73"/>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>278750.75000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.01560000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ROPER TECHNOLOGIES INC</name>
        <lei>54930003T4SXCIWVXY35</lei>
        <title>Roper Technologies Inc</title>
        <cusip>776743AH9</cusip>
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          <isin value="US776743AH99"/>
          <other otherDesc="Sedol" value="BKRLVN5"/>
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        <balance>185000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>185016.72000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.35000000</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>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>912828YH7</cusip>
        <identifiers>
          <isin value="US912828YH74"/>
          <other otherDesc="SEDOL" value="BJYQBF8"/>
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        <balance>2380000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2364846.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DISH NETWORK CORP</name>
        <lei>529900U350CWHH15G169</lei>
        <title>DISH Network Corp</title>
        <cusip>25470MAD1</cusip>
        <identifiers>
          <isin value="US25470MAD11"/>
          <other otherDesc="SEDOL" value="BFMNDT1"/>
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        <balance>2135000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1935516.28000000</valUSD>
        <pctVal>0.378145760544</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>DISH Network Corp</title>
              <curCd>USD</curCd>
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                <isin value="US25470M1099"/>
                <ticker value="DISH"/>
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          <currencyInfos>
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          <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>BOISE CASCADE COMPANY</name>
        <lei>549300Z8B8LSRHC7XA55</lei>
        <title>Boise Cascade Co</title>
        <cusip>09739DAC4</cusip>
        <identifiers>
          <isin value="US09739DAC48"/>
          <other otherDesc="Sedol" value="BDHBWB1"/>
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        <balance>295000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>307659.93000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</annualizedRt>
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      <invstOrSec>
        <name>LIGAND PHARMACEUTICALS I</name>
        <lei>5493008K7TB0IKP37H79</lei>
        <title>Ligand Pharmaceuticals Inc</title>
        <cusip>53220KAF5</cusip>
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          <isin value="US53220KAF57"/>
          <other otherDesc="Sedol" value="BJVRG82"/>
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        <balance>864000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>754531.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Ligand Pharmaceuticals Inc</name>
              <title>Ligand Pharmaceuticals Inc</title>
              <curCd>USD</curCd>
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                <cusip value="53220K504"/>
                <isin value="US53220K5048"/>
                <ticker value="LGND"/>
                <other otherDesc="SEDOL" value="2501578"/>
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          <currencyInfos>
            <currencyInfo convRatio="4.02440000" curCd="USD"/>
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      <invstOrSec>
        <name>SABINE PASS LIQUEFACTION</name>
        <lei>549300KJYBG7C6WJYZ11</lei>
        <title>Sabine Pass Liquefaction LLC</title>
        <cusip>785592AJ5</cusip>
        <identifiers>
          <isin value="US785592AJ58"/>
          <other otherDesc="Sedol" value="BSPCCF5"/>
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        <balance>110000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>122519.10000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>T-MOBILE US INC</name>
        <lei>N/A</lei>
        <title>T-MOBILE USA INC</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="87299ATH7"/>
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        <balance>166000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>Simon Property Group Inc</name>
        <lei>529900GQL5X8H7AO3T64</lei>
        <title>Simon Property Group Inc</title>
        <cusip>828806109</cusip>
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          <isin value="US8288061091"/>
          <ticker value="SPG"/>
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        <balance>4548.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>687703.08000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>9128283C2</cusip>
        <identifiers>
          <isin value="US9128283C28"/>
          <other otherDesc="Sedol" value="BF2K392"/>
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        <balance>340000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>343778.52000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WELLCARE HEALTH PLANS</name>
        <lei>529900JCT1MMTWHZ5P23</lei>
        <title>WellCare Health Plans Inc</title>
        <cusip>94946TAD8</cusip>
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          <other otherDesc="Sedol" value="BDZ2P62"/>
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        <balance>470000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>501641.58000000</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>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Western Asset Emerging Markets Debt Fund Inc</name>
        <lei>549300F68574RU1BKP84</lei>
        <title>Western Asset Emerging Markets Debt Fund Inc</title>
        <cusip>95766A101</cusip>
        <identifiers>
          <isin value="US95766A1016"/>
          <ticker value="EMD"/>
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        <balance>102002.00000000</balance>
        <units>NS</units>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>MERITOR INC</name>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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      <invstOrSec>
        <name>iShares Preferred &amp; Income Securities ETF</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Broadcom Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PENN NATIONAL GAMING INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>A SCHULMAN INC</name>
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        <title>A Schulman Inc</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HILCORP ENERGY I/HILCORP</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Morgan Stanley Institutional Liquidity Funds - Government Portfolio</name>
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        <title>Morgan Stanley Institutional Liquidity Funds - Government Portfolio</title>
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          <ticker value="MVRXX"/>
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        <assetCat>STIV</assetCat>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>VanEck Vectors High-Yield Municipal Index ETF</name>
        <lei>549300UT41BWOPGYSE94</lei>
        <title>VanEck Vectors High-Yield Municipal Index ETF</title>
        <cusip>92189H409</cusip>
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          <ticker value="HYD"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>PUERTO RICO SALES TAX FING COR</name>
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        <curCd>USD</curCd>
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        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>REPUBLIC OF INDONESIA</name>
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        <title>Indonesia Government International Bond</title>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>ID</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Koninklijke Ahold Delhaize NV</name>
        <lei>724500C9GNBV20UYRX36</lei>
        <title>Koninklijke Ahold Delhaize NV</title>
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          <ticker value="AD"/>
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        <name>BANK OF AMERICA CORP</name>
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        <title>Bank of America Corp</title>
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        <name>PUBLIC AUTH FOR COLORADO ST EN</name>
        <lei>549300C6IJKXQOMRAB11</lei>
        <title>PUBLIC AUTHORITY FOR COLORADO ENERGY</title>
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        <name>Bank of New York Mellon Corp/T</name>
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        <name>BRANCH BANKING &amp; TRUST</name>
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        <title>Branch Banking &amp; Trust Co</title>
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        <name>DOMINION WATER &amp; SANITATION DISTRICT</name>
        <lei>N/A</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418DBG6</cusip>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-04-01</maturityDt>
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      <invstOrSec>
        <name>QTS REALTY TRUST INC</name>
        <lei>5493006PA4CJK4OG2J54</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BUILDERS FIRSTSOURCE INC</name>
        <lei>549300W0SKP6L3H7DP63</lei>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Secom Co Ltd</name>
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        <title>Secom Co Ltd</title>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EVERGY INC</name>
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        <title>Evergy Inc</title>
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          <isin value="US30034WAB28"/>
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        <balance>160000.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-15</maturityDt>
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      <invstOrSec>
        <name>CHEMOURS CO</name>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>JBS USA LLC/JBS USA FINA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>CROWN CASTLE INTL CORP</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-01-15</maturityDt>
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        <name>VERIZON COMMUNICATIONS</name>
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        <title>Verizon Communications Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>ENTERGY MISSISSIPPI LLC</name>
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        <title>Entergy Mississippi LLC</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Next PLC</name>
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        <title>Next PLC</title>
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        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>AMC NETWORKS INC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
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        <name>Nestle SA</name>
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        <title>Nestle SA</title>
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        <name>PEBBLEBROOK HOTEL TRUST</name>
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        <title>Pebblebrook Hotel Trust</title>
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        <name>J.P. MORGAN CHASE BANK NA</name>
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        <title>EUR/USD FORWARD</title>
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        <name>State Street Institutional US Government Money Market Fund</name>
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          <ticker value="SAMXX"/>
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        <fairValLevel>1</fairValLevel>
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        <name>TOBACCO SETTLEMENT FING CORP N</name>
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        <title>Tobacco Settlement Financing Corp</title>
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        <name>DOMINICAN REPUBLIC</name>
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        <title>Dominican Republic International Bond</title>
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        <invCountry>DO</invCountry>
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      <invstOrSec>
        <name>DR Horton Inc</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PULTEGROUP INC</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>IBM CORP</name>
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          <isin value="US459200JZ55"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-05-15</maturityDt>
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      <invstOrSec>
        <name>TARGA RESOURCES PARTNERS</name>
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          <isin value="US87612BBE11"/>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FMG RESOURCES AUG 2006</name>
        <lei>549300EFD6S2NFE9D745</lei>
        <title>FMG Resources August 2006 Pty Ltd</title>
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          <isin value="US30251GAW78"/>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-15</maturityDt>
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      <invstOrSec>
        <name>LEVI STRAUSS &amp; CO</name>
        <lei>MB0UERO0RDFKU8258G77</lei>
        <title>Levi Strauss &amp; Co</title>
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          <isin value="US52736RBG65"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Makita Corp</name>
        <lei>529900CDR9E94BCM6294</lei>
        <title>Makita Corp</title>
        <cusip>000000000</cusip>
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          <isin value="JP3862400003"/>
          <ticker value="6586"/>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NOVELIS CORP</name>
        <lei>549300G5F3W3B52WYL23</lei>
        <title>Novelis Corp</title>
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          <isin value="US670001AA49"/>
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        <balance>202000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-15</maturityDt>
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          <annualizedRt>6.25000000</annualizedRt>
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      <invstOrSec>
        <name>SCIENTIFIC GAMES INTERNA</name>
        <lei>RLTHESQ0RNFQJWPBJN60</lei>
        <title>Scientific Games International Inc</title>
        <cusip>80874YBA7</cusip>
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        <balance>375000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>406677.75000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>8.25000000</annualizedRt>
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      <invstOrSec>
        <name>VISTRA OPERATIONS CO LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-09-01</maturityDt>
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      <invstOrSec>
        <name>Cisco Systems Inc</name>
        <lei>8E6NF1YAL0WT6CWXXV93</lei>
        <title>Cisco Systems Inc</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Brookdale Senior Living Inc</name>
        <lei>LH7MQB13NWY7CJ9VC445</lei>
        <title>Brookdale Senior Living Inc</title>
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          <ticker value="BKD"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Seven &amp; i Holdings Co Ltd</name>
        <lei>52990037G8JRM3TWGY86</lei>
        <title>Seven &amp; i Holdings Co Ltd</title>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>HUDBAY MINERALS INC</name>
        <lei>549300WI524AL577IX21</lei>
        <title>Hudbay Minerals Inc</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>STEEL DYNAMICS INC</name>
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        <title>Steel Dynamics Inc</title>
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        <balance>505000.00000000</balance>
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        <invCountry>US</invCountry>
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        <name>NRG ENERGY INC</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy Inc</title>
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        <invCountry>US</invCountry>
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              <title>NRG Energy Inc</title>
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        <name>POPULAR INC</name>
        <lei>5493008CARDZMVQ3LO89</lei>
        <title>Popular Inc</title>
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        <balance>455000.00000000</balance>
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        <valUSD>489313.83000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PR</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>PLURALSIGHT INC</name>
        <lei>254900B3VHPCKNREOX50</lei>
        <title>Pluralsight Inc</title>
        <cusip>72941BAA4</cusip>
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          <isin value="US72941BAA44"/>
          <other otherDesc="Sedol" value="BH3VWH9"/>
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        <balance>1796000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1554164.47000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>Pluralsight Inc</title>
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                <ticker value="PS"/>
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            <currencyInfo convRatio="25.80230000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond</title>
        <cusip>912828YB0</cusip>
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          <isin value="US912828YB05"/>
          <other otherDesc="Sedol" value="BK9DLB7"/>
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        <balance>1255000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
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      <invstOrSec>
        <name>NATIONAL RURAL UTIL COOP</name>
        <lei>4NYF266XZC35SCTGX023</lei>
        <title>National Rural Utilities Cooperative Finance Corp</title>
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          <isin value="US637432NK73"/>
          <other otherDesc="Sedol" value="BDGN0W5"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-04-20</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>Camden Property Trust</name>
        <lei>5493002MYX22OHYJBD89</lei>
        <title>Camden Property Trust</title>
        <cusip>133131102</cusip>
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          <isin value="US1331311027"/>
          <ticker value="CPT"/>
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        <balance>12788.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1426501.40000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cigna Corp</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Corp</title>
        <cusip>125523100</cusip>
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          <isin value="US1255231003"/>
          <ticker value="CI"/>
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        <balance>32200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6437424.00000000</valUSD>
        <pctVal>1.257692647475</pctVal>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Roche Holding AG</name>
        <lei>549300U41AUUVOAAOB37</lei>
        <title>Roche Holding AG</title>
        <cusip>000000000</cusip>
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          <isin value="CH0012032048"/>
          <ticker value="ROG"/>
          <other otherDesc="SEDOL" value="7110388"/>
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        <balance>4020.00000000</balance>
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        <currencyConditional curCd="CHF" exchangeRt="1.00000000"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOINGO WIRELESS</name>
        <lei>54930058LPWPZZCRMC04</lei>
        <title>Boingo Wireless Inc</title>
        <cusip>09739CAB8</cusip>
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          <isin value="US09739CAB81"/>
          <other otherDesc="SEDOL" value="BK6V404"/>
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        <balance>2698000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2377933.02000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Boingo Wireless Inc</name>
              <title>Boingo Wireless Inc</title>
              <curCd>USD</curCd>
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                <cusip value="09739C102"/>
                <isin value="US09739C1027"/>
                <ticker value="WIFI"/>
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          <currencyInfos>
            <currencyInfo convRatio="23.63230000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>ENERGY TRANSFER OPERATNG</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>Energy Transfer Operating LP</title>
        <cusip>29278NAG8</cusip>
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          <other otherDesc="Sedol" value="BJ2DPR1"/>
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        <balance>95000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>104937.67000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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      <invstOrSec>
        <name>GRACE MORTGAGE TRUST</name>
        <lei>N/A</lei>
        <title>GRACE 2014-GRCE Mortgage Trust</title>
        <cusip>38406HAA0</cusip>
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          <isin value="US38406HAA05"/>
          <other otherDesc="Sedol" value="BMSKYK3"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101284.89000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-06-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.36870000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LIBERTY MEDIA CORP</name>
        <lei>549300ZKUTPIBZLWLL89</lei>
        <title>Liberty Media Corp</title>
        <cusip>531229AE2</cusip>
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          <isin value="US531229AE29"/>
          <other otherDesc="Sedol" value="BYWMNV3"/>
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        <balance>2947000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1667273.21000000</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>2046-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>AT&amp;T Inc</title>
              <curCd>USD</curCd>
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                <isin value="US00206R1023"/>
                <ticker value="T"/>
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          <currencyInfos>
            <currencyInfo convRatio="13.74520000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW YORK ST LIBERTY DEV CORP L</name>
        <lei>N/A</lei>
        <title>New York Liberty Development Corp</title>
        <cusip>649519DA0</cusip>
        <identifiers>
          <isin value="US649519DA03"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1104910.00000000</valUSD>
        <pctVal>0.215868518699</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BIOMARIN PHARMACEUTICAL</name>
        <lei>NSLL8ITTRR0J5HEMR848</lei>
        <title>BioMarin Pharmaceutical Inc</title>
        <cusip>09061GAH4</cusip>
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          <isin value="US09061GAH48"/>
          <other otherDesc="Sedol" value="BF47SZ2"/>
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        <balance>1143000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1178630.51000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>0.59900000</annualizedRt>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>BioMarin Pharmaceutical Inc</title>
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      <invstOrSec>
        <name>ROMANIA GOVERNMENT BOND</name>
        <lei>315700IASY927EDWBK92</lei>
        <title>Romania Government Bond</title>
        <cusip>000000000</cusip>
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          <isin value="ROD9TE7MEES0"/>
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        <balance>855000.00000000</balance>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>RO</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>JEFFERIES GROUP LLC</name>
        <lei>NY9Q8VBNB6D1L6YV0J84</lei>
        <title>Jefferies Group LLC</title>
        <cusip>472319AE2</cusip>
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        <curCd>USD</curCd>
        <valUSD>11760.48000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-06-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.45000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140Q8J48</cusip>
        <identifiers>
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        <balance>131731.78000000</balance>
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        <curCd>USD</curCd>
        <valUSD>137807.51000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</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>STANDARD INDUSTRIES INC</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Industries Inc/NJ</title>
        <cusip>853496AC1</cusip>
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          <isin value="US853496AC17"/>
          <other otherDesc="Sedol" value="BDVPXC7"/>
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        <balance>160000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>166371.60000000</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>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>CHARTER COMM OPT LLC/CAP</name>
        <lei>N/A</lei>
        <title>Charter Communications Operating LLC / Charter Communications Operating Capital</title>
        <cusip>161175BT0</cusip>
        <identifiers>
          <isin value="US161175BT05"/>
          <other otherDesc="SEDOL" value="BKSVYZ7"/>
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        <balance>70000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>73054.92000000</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>2050-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</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>TAUBMAN CENTERS INC</name>
        <lei>N/A</lei>
        <title>Taubman Centers Inc</title>
        <cusip>876664608</cusip>
        <identifiers>
          <isin value="US8766646082"/>
          <ticker value="TCO"/>
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        <balance>50077.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1269451.95000000</valUSD>
        <pctVal>0.248015414836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Americold Realty Trust</name>
        <lei>549300R7N1V5YV8MWH02</lei>
        <title>Americold Realty Trust</title>
        <cusip>03064D108</cusip>
        <identifiers>
          <isin value="US03064D1081"/>
          <ticker value="COLD"/>
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        <balance>30443.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1145265.66000000</valUSD>
        <pctVal>0.223752886245</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Freddie Mac</name>
        <lei>N/A</lei>
        <title>Freddie Mac Pool</title>
        <cusip>3132A5HR9</cusip>
        <identifiers>
          <isin value="US3132A5HR91"/>
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        <balance>101897.10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>106752.60000000</valUSD>
        <pctVal>0.020856473042</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ENERGY TRANSFER OPERATNG</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>Energy Transfer Operating LP</title>
        <cusip>29279FAA7</cusip>
        <identifiers>
          <isin value="US29279FAA75"/>
          <other otherDesc="Sedol" value="BJ2NY29"/>
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        <balance>60000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70755.34000000</valUSD>
        <pctVal>0.013823614987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RETROPHIN INC</name>
        <lei>N/A</lei>
        <title>Retrophin Inc</title>
        <cusip>761299AB2</cusip>
        <identifiers>
          <isin value="US761299AB20"/>
          <other otherDesc="Sedol" value="BFY00K0"/>
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        <balance>1390000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1086466.53000000</valUSD>
        <pctVal>0.212265180374</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Retrophin Inc</name>
              <title>Retrophin Inc</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="761299106"/>
                <isin value="US7612991064"/>
                <ticker value="RTRX"/>
                <other otherDesc="SEDOL" value="B95XCC2"/>
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          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="25.77390000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ZAYO GROUP LLC/ZAYO CAP</name>
        <lei>N/A</lei>
        <title>Zayo Group LLC / Zayo Capital Inc</title>
        <cusip>989194AL9</cusip>
        <identifiers>
          <isin value="US989194AL96"/>
          <other otherDesc="Sedol" value="BYSZ9J6"/>
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        <balance>455000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>469214.20000000</valUSD>
        <pctVal>0.091671334594</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>6.37500000</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>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
        <cusip>06051GHV4</cusip>
        <identifiers>
          <isin value="US06051GHV41"/>
          <other otherDesc="Sedol" value="BKLNVY8"/>
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        <balance>55000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>56878.12000000</valUSD>
        <pctVal>0.011112394231</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-07-23</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.19400000</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>JBS USA/FOOD/FINANCE</name>
        <lei>N/A</lei>
        <title>JBS USA LUX SA / JBS USA Food Co / JBS USA Finance Inc</title>
        <cusip>46590XAA4</cusip>
        <identifiers>
          <isin value="US46590XAA46"/>
          <other otherDesc="Sedol" value="BJH0CW1"/>
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        <balance>305000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>338655.99000000</valUSD>
        <pctVal>0.066163911006</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</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>ENTERGY LOUISIANA LLC</name>
        <lei>0V5453U14HDZO63CGH17</lei>
        <title>Entergy Louisiana LLC</title>
        <cusip>29364WAV0</cusip>
        <identifiers>
          <isin value="US29364WAV00"/>
          <other otherDesc="Sedol" value="BSPPWR6"/>
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        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5429.33000000</valUSD>
        <pctVal>0.001060739268</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.95000000</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>KAZTRANSGAS JSC</name>
        <lei>635400YGLXBBSVHONW39</lei>
        <title>KazTransGas JSC</title>
        <cusip>48668NAA9</cusip>
        <identifiers>
          <isin value="US48668NAA90"/>
          <other otherDesc="Sedol" value="BD35XN6"/>
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        <balance>381000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>400288.13000000</valUSD>
        <pctVal>0.078205107815</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KZ</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-09-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</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>SENSATA TECH UK FIN CO</name>
        <lei>635400EUADS212PJER83</lei>
        <title>Sensata Technologies UK Financing Co PLC</title>
        <cusip>81727TAA6</cusip>
        <identifiers>
          <isin value="US81727TAA60"/>
          <other otherDesc="Sedol" value="BD5WCG1"/>
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        <balance>285000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>306857.36000000</valUSD>
        <pctVal>0.059951347852</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.25000000</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>
        <name>NEWMONT GOLDCORP CORP</name>
        <lei>549300VSP3RIX7FGDZ51</lei>
        <title>Newmont Goldcorp Corp</title>
        <cusip>651639AX4</cusip>
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          <isin value="US651639AX42"/>
          <other otherDesc="SEDOL" value="BK5NDG0"/>
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        <balance>190000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>188441.35000000</valUSD>
        <pctVal>0.036816170625</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.80000000</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>
        <name>CITY OF APPLE VALLEY MN</name>
        <lei>549300AMWD6044L1SO95</lei>
        <title>APPLE VLY SNR LVNG-D</title>
        <cusip>03789YDT0</cusip>
        <identifiers>
          <isin value="US03789YDT01"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1034500.00000000</valUSD>
        <pctVal>0.202112373491</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MURPHY OIL CORP</name>
        <lei>QBKYQD0ODE7DC7PDIN91</lei>
        <title>Murphy Oil Corp</title>
        <cusip>626717AM4</cusip>
        <identifiers>
          <isin value="US626717AM42"/>
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        <balance>278000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>279795.88000000</valUSD>
        <pctVal>0.054664291348</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>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MGM Growth Properties LLC</name>
        <lei>549300E2UGIBHWE12262</lei>
        <title>MGM Growth Properties LLC</title>
        <cusip>55303A105</cusip>
        <identifiers>
          <isin value="US55303A1051"/>
          <ticker value="MGP"/>
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        <balance>15576.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>482700.24000000</valUSD>
        <pctVal>0.094306129716</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GUSAP III LP</name>
        <lei>549300WY05UJ7WTHIN64</lei>
        <title>GUSAP III LP</title>
        <cusip>36258GAA5</cusip>
        <identifiers>
          <isin value="US36258GAA58"/>
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        <balance>205000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>202488.75000000</valUSD>
        <pctVal>0.039560639794</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Annaly Capital Management Inc</name>
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        <name>CALPINE CORP</name>
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        <name>LOWE'S COS INC</name>
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        <name>IVORY COAST</name>
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        <name>HILL-ROM HOLDINGS INC</name>
        <lei>JLZ01A0E2071OH26RE45</lei>
        <title>Hill-Rom Holdings Inc</title>
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        <name>TRANSOCEAN INC</name>
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        <title>Transocean Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>J.P. MORGAN CHASE BANK NA</name>
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        <name>CDK GLOBAL INC</name>
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        <name>HUB INTERNATIONAL LTD</name>
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        <name>Liberty Property Trust</name>
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        <name>CREDIT SUISSE GROUP AG</name>
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        <title>Credit Suisse Group AG</title>
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        <name>Bank</name>
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        <name>MARATHON OIL CORP</name>
        <lei>1FRVQX2CRLGC1XLP5727</lei>
        <title>Marathon Oil Corp</title>
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        <name>NOBLE ENERGY INC</name>
        <lei>02VFQXG2D1LR5ZH3K186</lei>
        <title>Noble Energy Inc</title>
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        <name>ENCOMPASS HEALTH CORP</name>
        <lei>549300FVRPM9DRQZRG64</lei>
        <title>Encompass Health Corp</title>
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        <invCountry>US</invCountry>
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      <invstOrSec>
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        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp</title>
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          <isin value="US88033GCE89"/>
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        <curCd>USD</curCd>
        <valUSD>263895.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-04-01</maturityDt>
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      <invstOrSec>
        <name>PILGRIM'S PRIDE CORP</name>
        <lei>549300ZSLGV64ZL3HD75</lei>
        <title>Pilgrim's Pride Corp</title>
        <cusip>72147KAC2</cusip>
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          <isin value="US72147KAC27"/>
          <other otherDesc="Sedol" value="BW9Z0W1"/>
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        <balance>535000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>556394.65000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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      <invstOrSec>
        <name>LIBERTY DEV CORP NY REVENUE</name>
        <lei>N/A</lei>
        <title>New York Liberty Development Corp</title>
        <cusip>531127AC2</cusip>
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          <isin value="US531127AC24"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1361990.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-10-01</maturityDt>
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          <annualizedRt>5.25000000</annualizedRt>
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      <invstOrSec>
        <name>CSC HOLDINGS LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
        <title>CSC Holdings LLC</title>
        <cusip>126307AX5</cusip>
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          <isin value="US126307AX53"/>
          <other otherDesc="Sedol" value="BGSQLX1"/>
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        <balance>465000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>499875.00000000</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>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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      <invstOrSec>
        <name>Swatch Group AG/The</name>
        <lei>529900NTES2LEON1JZ55</lei>
        <title>Swatch Group AG/The</title>
        <cusip>000000000</cusip>
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          <isin value="CH0012255151"/>
          <ticker value="UHR"/>
          <other otherDesc="SEDOL" value="7184725"/>
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        <balance>2110.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTHERN CAL EDISON</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co</title>
        <cusip>842400GR8</cusip>
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          <isin value="US842400GR87"/>
          <other otherDesc="Sedol" value="BJMTK74"/>
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        <balance>45000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>53921.19000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AERCAP IRELAND CAP/GLOBA</name>
        <lei>N/A</lei>
        <title>AerCap Ireland Capital DAC / AerCap Global Aviation Trust</title>
        <cusip>00774MAL9</cusip>
        <identifiers>
          <isin value="US00774MAL90"/>
          <other otherDesc="Sedol" value="BK15Z86"/>
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        <balance>150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>161414.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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      <invstOrSec>
        <name>ORBIA ADVANCE CORP SAB</name>
        <lei>549300MVHZ20SBIOEQ79</lei>
        <title>Orbia Advance Corp SAB de CV</title>
        <cusip>59284BAG3</cusip>
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          <isin value="US59284BAG32"/>
          <other otherDesc="Sedol" value="BD6GX69"/>
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        <balance>221000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>220377.89000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BUCKEYE OHIO TOBACCO SETTLEMENT FINANCING AUTHORITY</name>
        <lei>N/A</lei>
        <title>BUCKEYE TOBACCO SETTLEMENT FINANCING AUTHORITY</title>
        <cusip>118217AU2</cusip>
        <identifiers>
          <isin value="US118217AU29"/>
          <other otherDesc="Sedol" value="B28Y579"/>
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        <balance>1250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1256437.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNIVAR SOLUTIONS USA INC</name>
        <lei>N/A</lei>
        <title>Univar Solutions USA Inc</title>
        <cusip>91337CAA4</cusip>
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          <isin value="US91337CAA45"/>
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        <balance>180000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>184536.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>ENEL SPA</name>
        <lei>WOCMU6HCI0OJWNPRZS33</lei>
        <title>Enel SpA</title>
        <cusip>29265WAA6</cusip>
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          <isin value="US29265WAA62"/>
          <other otherDesc="Sedol" value="BF0H4Q9"/>
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        <balance>200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>234520.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2073-09-24</maturityDt>
          <couponKind>Floating</couponKind>
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        <name>ROYAL BK SCOTLND GRP PLC</name>
        <lei>2138005O9XJIJN4JPN90</lei>
        <title>Royal Bank of Scotland Group PLC</title>
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          <isin value="US780097BB64"/>
          <other otherDesc="Sedol" value="BDHDFM9"/>
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        <balance>520000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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        <name>LAMAR MEDIA CORP</name>
        <lei>N/A</lei>
        <title>Lamar Media Corp</title>
        <cusip>513075BL4</cusip>
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          <isin value="US513075BL48"/>
          <other otherDesc="Sedol" value="BYMMZS4"/>
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        <balance>473000.00000000</balance>
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        <valUSD>504110.39000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>GENESIS ENERGY LP/GENESI</name>
        <lei>N/A</lei>
        <title>Genesis Energy LP / Genesis Energy Finance Corp</title>
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          <isin value="US37185LAH50"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-08-01</maturityDt>
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        <name>Brixmor Property Group Inc</name>
        <lei>5299007UXW6Y0W2EGZ95</lei>
        <title>Brixmor Property Group Inc</title>
        <cusip>11120U105</cusip>
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          <ticker value="BRX"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>MIDAMERICAN ENERGY CO</name>
        <lei>NINLOILYRTLIMK26MZ18</lei>
        <title>MidAmerican Energy Co</title>
        <cusip>595620AV7</cusip>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Edison International</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>Edison International</title>
        <cusip>281020107</cusip>
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          <isin value="US2810201077"/>
          <ticker value="EIX"/>
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        <balance>97100.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Fidelity Government Portfolio</name>
        <lei>N/A</lei>
        <title>Fidelity Government Portfolio</title>
        <cusip>316175108</cusip>
        <identifiers>
          <isin value="US3161751082"/>
          <ticker value="FIGXX"/>
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        <balance>2916048.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2916048.00000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>PRIME SECSRVC BRW/FINANC</name>
        <lei>N/A</lei>
        <title>Prime Security Services Borrower LLC / Prime Finance Inc</title>
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          <isin value="US74166MAA45"/>
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        <balance>227000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>239059.38000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE</name>
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        <title>E-MINI S&amp;P 500</title>
        <cusip>000000000</cusip>
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          <ticker value="ESZ9"/>
          <other otherDesc="ID_BB_GLOBAL" value="BBG00LYNJLC5"/>
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        <balance>34.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>244863.50000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
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              <counterpartyName>CHICAGO MERCANTILE EXCHANGE</counterpartyName>
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                <issuerName>STANDARD &amp; POOR'S FINANCIAL SERVICES LLC</issuerName>
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                  <ticker value="SPX"/>
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      <invstOrSec>
        <name>ALCON FINANCE CORP</name>
        <lei>549300CUZUI9VU7XNK42</lei>
        <title>Alcon Finance Corp</title>
        <cusip>01400EAB9</cusip>
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          <isin value="US01400EAB92"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-09-23</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>FLORIDA DEV FIN CORP SURFACE T</name>
        <lei>549300HC854CNBLMWC48</lei>
        <title>Florida Development Finance Corp</title>
        <cusip>34061YAD2</cusip>
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          <isin value="US34061YAD22"/>
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        <balance>1150000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1088164.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-01-01</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cardinal Health Inc</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
        <title>Cardinal Health Inc</title>
        <cusip>14149Y108</cusip>
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          <isin value="US14149Y1082"/>
          <ticker value="CAH"/>
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        <balance>123600.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>USI INC/NY</name>
        <lei>N/A</lei>
        <title>USI Inc/NY</title>
        <cusip>91739VAA6</cusip>
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          <isin value="US91739VAA61"/>
          <other otherDesc="Sedol" value="BD9FQ86"/>
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        <balance>468000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>471505.32000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Marsh &amp; McLennan Cos Inc</name>
        <lei>549300XMP3KDCKJXIU47</lei>
        <title>Marsh &amp; McLennan Cos Inc</title>
        <cusip>571748102</cusip>
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          <isin value="US5717481023"/>
          <ticker value="MMC"/>
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        <balance>62300.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6732761.00000000</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MONG DUONG FIN HLDGS BV</name>
        <lei>549300995KGQFMWSV879</lei>
        <title>Mong Duong Finance Holdings BV</title>
        <cusip>60935DAA3</cusip>
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          <isin value="US60935DAA37"/>
          <other otherDesc="Sedol" value="BK77BR7"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>512213.30000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-05-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.12500000</annualizedRt>
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      <invstOrSec>
        <name>Lexington Realty Trust</name>
        <lei>549300S4MH2ICXDBFV43</lei>
        <title>Lexington Realty Trust</title>
        <cusip>529043101</cusip>
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          <isin value="US5290431015"/>
          <ticker value="LXP"/>
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        <balance>124053.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1374507.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SOUTHERN CAL EDISON</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co</title>
        <cusip>842400GG2</cusip>
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          <isin value="US842400GG23"/>
          <other otherDesc="Sedol" value="BD9BPH6"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>31591.52000000</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>2047-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CSC HOLDINGS LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
        <title>CSC Holdings LLC</title>
        <cusip>126307AH0</cusip>
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          <isin value="US126307AH04"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5387.45000000</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>2024-06-01</maturityDt>
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      <invstOrSec>
        <name>Mondelez International Inc</name>
        <lei>549300DV9GIB88LZ5P30</lei>
        <title>Mondelez International Inc</title>
        <cusip>609207105</cusip>
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          <isin value="US6092071058"/>
          <ticker value="MDLZ"/>
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        <balance>126200.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>PUERTO RICO SALES TAX FING COR</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</title>
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        <balance>1880000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1945518.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2053-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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        <name>BB&amp;T Corp</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>BB&amp;T Corp</title>
        <cusip>054937107</cusip>
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          <isin value="US0549371070"/>
          <ticker value="BBT"/>
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        <valUSD>6643008.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>MPLX LP</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP</title>
        <cusip>55336VAT7</cusip>
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          <isin value="US55336VAT70"/>
          <other otherDesc="Sedol" value="BH4Q9M7"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60398.78000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-02-15</maturityDt>
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          <annualizedRt>5.50000000</annualizedRt>
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      <invstOrSec>
        <name>WASHINGTON PRIME GROUP</name>
        <lei>549300RWGA2GV6YQYT67</lei>
        <title>Washington Prime Group Inc</title>
        <cusip>93964W306</cusip>
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          <isin value="US93964W3060"/>
          <ticker value="WPG"/>
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        <balance>28700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>594411.44000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MPLX LP</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX LP</title>
        <cusip>55336VAR1</cusip>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>30754.83000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-03-15</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>ESH HOSPITALITY INC</name>
        <lei>54930042FMK7X7SQ2896</lei>
        <title>ESH Hospitality Inc</title>
        <cusip>26907YAA2</cusip>
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          <isin value="US26907YAA29"/>
          <other otherDesc="Sedol" value="BXB0LB7"/>
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        <balance>494000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>511290.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>OOREDOO INTL FINANCE</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PARATEK PHARMACEUTICALS</name>
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        <title>Paratek Pharmaceuticals Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>Paratek Pharmaceuticals Inc</title>
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      <invstOrSec>
        <name>REPUBLIC OF GUATEMALA</name>
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          <isin value="US401494AF63"/>
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        <invCountry>GT</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BANCO DE CREDITO DEL PER</name>
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        <title>Banco de Credito del Peru</title>
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        <invCountry>PE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-11</maturityDt>
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        <securityLending>
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      <invstOrSec>
        <name>F-TECH INC</name>
        <lei>N/A</lei>
        <title>CENTURY COMM TRACKING</title>
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          <ticker value="156ESCAG0"/>
          <other otherDesc="INTERNAL" value="156ESCAG0"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PNC FINANCIAL SERVICES</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group Inc/The</title>
        <cusip>693475AX3</cusip>
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          <isin value="US693475AX33"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-23</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CRESTWOOD MIDSTREAM PART</name>
        <lei>N/A</lei>
        <title>Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp</title>
        <cusip>226373AL2</cusip>
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          <isin value="US226373AL21"/>
          <other otherDesc="Sedol" value="BYYKP75"/>
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        <balance>245000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>246222.55000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-04-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pfizer Inc</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>Pfizer Inc</title>
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          <isin value="US7170811035"/>
          <ticker value="PFE"/>
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        <balance>171038.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ISRAEL ELECTRIC CORP LTD</name>
        <lei>254900JW7GE35YNJGJ55</lei>
        <title>Israel Electric Corp Ltd</title>
        <cusip>465077AL9</cusip>
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          <isin value="IL0060002446"/>
          <other otherDesc="Sedol" value="BFWRFM0"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>545152.50000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-08-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140X5EJ8</cusip>
        <identifiers>
          <isin value="US3140X5EJ81"/>
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        <balance>182000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-04-01</maturityDt>
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      <invstOrSec>
        <name>STATE STREET CORP</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>State Street Corp</title>
        <cusip>857477AN3</cusip>
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          <isin value="US857477AN34"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-12-16</maturityDt>
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      <invstOrSec>
        <name>Honeywell International Inc</name>
        <lei>ISRPG12PN4EIEOEMW547</lei>
        <title>Honeywell International Inc</title>
        <cusip>438516106</cusip>
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          <ticker value="HON"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FREEPORT-MCMORAN INC</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan Inc</title>
        <cusip>35671DBC8</cusip>
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          <isin value="US35671DBC83"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-03-15</maturityDt>
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      <invstOrSec>
        <name>AVOLON HOLDINGS FNDG LTD</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd</title>
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        <invCountry>IE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>TRANSDIGM INC</name>
        <lei>88Q84GB3X55CF5OC7582</lei>
        <title>TransDigm Inc</title>
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        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140X4W28</cusip>
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        <name>ILLINOIS ST</name>
        <lei>54930048FV8RWPR02D67</lei>
        <title>State of Illinois</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>GENERAL MOTORS FINL CO</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co Inc</title>
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        <name>SPDR Gold Shares</name>
        <lei>N/A</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CHENIERE ENERGY PARTNERS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>COVANTA HOLDING CORP</name>
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      <invstOrSec>
        <name>NUSTAR LOGISTICS LP</name>
        <lei>N62BF2PKP51FIIOIUN20</lei>
        <title>NuStar Logistics LP</title>
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          <isin value="US67059TAE55"/>
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        <name>CALIFORNIA STWD CMNTYS DEV AUT</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-01</maturityDt>
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        <name>Postal Realty Trust Inc</name>
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        <title>Postal Realty Trust Inc</title>
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          <ticker value="PSTL"/>
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        <fairValLevel>1</fairValLevel>
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        <name>ADVANCED DISPOSAL SRVCES</name>
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        <title>Advanced Disposal Services Inc</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-11-15</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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        <name>ADANI PORTS AND SPECIAL</name>
        <lei>335800QOAXP5TM7OYP69</lei>
        <title>Adani Ports &amp; Special Economic Zone Ltd</title>
        <cusip>00652MAE2</cusip>
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          <isin value="US00652MAE21"/>
          <other otherDesc="Sedol" value="BK5XJX9"/>
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        <balance>395000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>409698.94000000</valUSD>
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        <invCountry>IN</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-07-03</maturityDt>
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        <name>GILEAD SCIENCES INC</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-03-01</maturityDt>
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        <name>Healthpeak Properties Inc</name>
        <lei>PZ9HF5U52KPF0MH0QN75</lei>
        <title>Healthpeak Properties Inc</title>
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          <ticker value="PEAK"/>
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        <fairValLevel>1</fairValLevel>
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        <name>IRON MOUNTAIN US HLDNGS</name>
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        <title>Iron Mountain US Holdings Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>American Tower Corp</name>
        <lei>5493006ORUSIL88JOE18</lei>
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        <name>GOLDEN ST TOBACCO SECURITIZATI</name>
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        <name>HCA INC</name>
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        <name>CHICAGO BOARD OF TRADE</name>
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        <name>NEW YORK ST THRUWAY AUTH</name>
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        <name>CCO HLDGS LLC/CAP CORP</name>
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      </invstOrSec>
      <invstOrSec>
        <name>Sodexo SA</name>
        <lei>969500LCBOG12HXPYM84</lei>
        <title>Sodexo SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000121220"/>
          <ticker value="SW"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>ZEKELMAN INDUSTRIES INC</name>
        <lei>549300S5LMRAKDWWI425</lei>
        <title>Zekelman Industries Inc</title>
        <cusip>98932KAA0</cusip>
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          <isin value="US98932KAA07"/>
          <other otherDesc="Sedol" value="BYYYV35"/>
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        <balance>285000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>300853.13000000</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>2023-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.87500000</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>BOYD GAMING CORP</name>
        <lei>254900787YGRYS2A1Z35</lei>
        <title>Boyd Gaming Corp</title>
        <cusip>103304BM2</cusip>
        <identifiers>
          <isin value="US103304BM24"/>
          <other otherDesc="Sedol" value="BYQ2NR5"/>
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        <balance>452000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>483559.77000000</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>2026-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.37500000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>NEXTERA ENERGY CAPITAL</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings Inc</title>
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          <isin value="US65339KBK51"/>
          <other otherDesc="Sedol" value="BJLMKC9"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>60886.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2079-05-01</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>5.65000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Extra Space Storage Inc</name>
        <lei>N/A</lei>
        <title>Extra Space Storage Inc</title>
        <cusip>30225T102</cusip>
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          <isin value="US30225T1025"/>
          <ticker value="EXR"/>
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        <balance>8057.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>854444.85000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
        <cusip>06051GHX0</cusip>
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          <isin value="US06051GHX07"/>
          <other otherDesc="SEDOL" value="BK6XZC9"/>
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        <balance>20000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20168.90000000</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>2030-10-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.88400000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Texas Instruments Inc</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
        <title>Texas Instruments Inc</title>
        <cusip>882508104</cusip>
        <identifiers>
          <isin value="US8825081040"/>
          <ticker value="TXN"/>
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        <balance>35701.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4291617.21000000</valUSD>
        <pctVal>0.838462001383</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>SALT VERDE AZ FINANCIAL CORP S</name>
        <lei>549300VEWOZY6TQOIF03</lei>
        <title>SALT VERDE FINANCIAL CORP</title>
        <cusip>79575EAS7</cusip>
        <identifiers>
          <isin value="US79575EAS72"/>
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        <balance>1000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1335110.00000000</valUSD>
        <pctVal>0.260843161887</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-12-01</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>
        <name>BANK OF AMERICA CORP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp</title>
        <cusip>06051GHW2</cusip>
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          <isin value="US06051GHW24"/>
          <other otherDesc="SEDOL" value="BL0PQL4"/>
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        <balance>15000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15053.96000000</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>2025-10-22</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>2.45600000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DISH Network Corp</name>
        <lei>529900U350CWHH15G169</lei>
        <title>DISH Network Corp</title>
        <cusip>25470M117</cusip>
        <identifiers>
          <isin value="US25470M1172"/>
          <ticker value="DISHR"/>
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        <balance>1405.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>955.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>USB CAPITAL IX</name>
        <lei>N/A</lei>
        <title>USB Capital IX</title>
        <cusip>91731KAA8</cusip>
        <identifiers>
          <isin value="US91731KAA88"/>
          <other otherDesc="Sedol" value="B11FJM5"/>
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        <balance>85000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>74827.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UDR Inc</name>
        <lei>P3CH2EG5X6Z1XWU1OO74</lei>
        <title>UDR Inc</title>
        <cusip>902653104</cusip>
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          <isin value="US9026531049"/>
          <ticker value="UDR"/>
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        <balance>31504.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1513767.20000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NXP BV/NXP FDG/NXP USA</name>
        <lei>N/A</lei>
        <title>NXP BV / NXP Funding LLC / NXP USA Inc</title>
        <cusip>62954HAB4</cusip>
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          <isin value="US62954HAB42"/>
          <other otherDesc="Sedol" value="BK64607"/>
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        <balance>15000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16040.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-18</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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FEDEX CORP</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FedEx Corp</title>
        <cusip>31428XBQ8</cusip>
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          <isin value="US31428XBQ88"/>
          <other otherDesc="Sedol" value="BF42ZD4"/>
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        <balance>140000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>137275.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.05000000</annualizedRt>
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      <invstOrSec>
        <name>INTERDIGITAL INC</name>
        <lei>N/A</lei>
        <title>InterDigital Inc</title>
        <cusip>45867GAA9</cusip>
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          <isin value="US45867GAA94"/>
          <other otherDesc="Sedol" value="BJ0M075"/>
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        <balance>1391000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1400989.74000000</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>2024-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
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              <name>InterDigital Inc</name>
              <title>InterDigital Inc</title>
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                <ticker value="IDCC"/>
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      <invstOrSec>
        <name>DYCOM INDUSTRIES INC</name>
        <lei>549300F56EKTHQI3WT60</lei>
        <title>Dycom Industries Inc</title>
        <cusip>267475AB7</cusip>
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          <isin value="US267475AB73"/>
          <other otherDesc="Sedol" value="BDH3701"/>
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        <curCd>USD</curCd>
        <valUSD>755228.43000000</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>2021-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.75000000</annualizedRt>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>Dycom Industries Inc</name>
              <title>Dycom Industries Inc</title>
              <curCd>USD</curCd>
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                <isin value="US2674751019"/>
                <ticker value="DYI"/>
                <other otherDesc="SEDOL" value="2289841"/>
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          <currencyInfos>
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          <delta>XXXX</delta>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bluerock Residential Growth RE</name>
        <lei>549300KWLV0TGICOUU26</lei>
        <title>Bluerock Residential Growth REIT Inc</title>
        <cusip>09627J102</cusip>
        <identifiers>
          <isin value="US09627J1025"/>
          <ticker value="BRG"/>
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        <balance>85507.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1048315.82000000</valUSD>
        <pctVal>0.204811598404</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CHENIERE CORP CHRISTI HD</name>
        <lei>549300I7CIEWU1BBLQ53</lei>
        <title>Cheniere Corpus Christi Holdings LLC</title>
        <cusip>16412XAD7</cusip>
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          <isin value="US16412XAD75"/>
          <other otherDesc="Sedol" value="BDZVV61"/>
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        <balance>135000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>155228.40000000</valUSD>
        <pctVal>0.030327288890</pctVal>
        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-30</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>POST HOLDINGS INC</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>Post Holdings Inc</title>
        <cusip>737446AM6</cusip>
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          <isin value="US737446AM60"/>
          <other otherDesc="Sedol" value="BYNHPV1"/>
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        <balance>295000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>316709.79000000</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>2027-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>JAZZ INVESTMENTS I LTD</name>
        <lei>N/A</lei>
        <title>Jazz Investments I Ltd</title>
        <cusip>472145AB7</cusip>
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          <isin value="US472145AB79"/>
          <other otherDesc="Sedol" value="BYTLGY7"/>
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        <balance>1105000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1138862.95000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.87500000</annualizedRt>
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          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Jazz Pharmaceuticals PLC</name>
              <title>Jazz Pharmaceuticals PLC</title>
              <curCd>USD</curCd>
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                <cusip value="000000000"/>
                <isin value="IE00B4Q5ZN47"/>
                <ticker value="JAZZ"/>
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          <currencyInfos>
            <currencyInfo convRatio="5.00570000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CVS Health Corp</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp</title>
        <cusip>126650100</cusip>
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          <isin value="US1266501006"/>
          <ticker value="CVS"/>
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        <balance>88700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6676449.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Air Liquide SA</name>
        <lei>969500MMPQVHK671GT54</lei>
        <title>Air Liquide SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000120073"/>
          <ticker value="AI"/>
          <other otherDesc="SEDOL" value="B1YXBJ7"/>
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        <balance>7820.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.90768811"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>FIXED INCOME PASS-THROUGH TRUST 2007-C</name>
        <lei>N/A</lei>
        <title>FIPT 07-B JPM CLASS B</title>
        <cusip>33832QAC1</cusip>
        <identifiers>
          <isin value="US33832QAC15"/>
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        <balance>1300000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2087-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.84500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PUERTO RICO SALES TAX FING COR</name>
        <lei>N/A</lei>
        <title>Puerto Rico Sales Tax Financing Corp Sales Tax Revenue</title>
        <cusip>74529JPX7</cusip>
        <identifiers>
          <isin value="US74529JPX71"/>
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        <balance>720000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>756540.00000000</valUSD>
        <pctVal>0.147806761760</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>PR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2058-07-01</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>UNITED RENTALS NORTH AM</name>
        <lei>NGIZXNT70J2LYT3FBI09</lei>
        <title>United Rentals North America Inc</title>
        <cusip>911365BE3</cusip>
        <identifiers>
          <isin value="US911365BE34"/>
          <other otherDesc="Sedol" value="BD076X6"/>
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        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5362.63000000</valUSD>
        <pctVal>0.001047707953</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>NexPoint Residential Trust Inc</name>
        <lei>549300U2J6XVYBF87166</lei>
        <title>NexPoint Residential Trust Inc</title>
        <cusip>65341D102</cusip>
        <identifiers>
          <isin value="US65341D1028"/>
          <ticker value="NXRT"/>
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        <balance>20925.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1001261.25000000</valUSD>
        <pctVal>0.195618451157</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>Northrop Grumman Corp</name>
        <lei>RIMU48P07456QXSO0R61</lei>
        <title>Northrop Grumman Corp</title>
        <cusip>666807102</cusip>
        <identifiers>
          <isin value="US6668071029"/>
          <ticker value="NOC"/>
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        <balance>18500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6507745.00000000</valUSD>
        <pctVal>1.271431404571</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>RPM INTERNATIONAL INC</name>
        <lei>549300TJCKW4BRXPJ474</lei>
        <title>RPM International Inc</title>
        <cusip>749685AX1</cusip>
        <identifiers>
          <isin value="US749685AX13"/>
          <other otherDesc="Sedol" value="BJLHZT6"/>
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        <balance>170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>184783.56000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-03-01</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>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ANHEUSER-BUSCH INBEV WOR</name>
        <lei>549300CRGMZK3K53BF92</lei>
        <title>Anheuser-Busch InBev Worldwide Inc</title>
        <cusip>035240AQ3</cusip>
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          <isin value="US035240AQ30"/>
          <other otherDesc="Sedol" value="BJ52100"/>
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        <balance>50000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>58206.49000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SOUTHWESTERN ELEC POWER</name>
        <lei>R64UBJHEC74EB3HGQ410</lei>
        <title>Southwestern Electric Power Co</title>
        <cusip>845437BR2</cusip>
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          <isin value="US845437BR25"/>
          <other otherDesc="Sedol" value="BFNR3L4"/>
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        <balance>165000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>181489.01000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PUBLIC FIN AUTH WI SENIOR LIVI</name>
        <lei>5493004S6D3NA627K012</lei>
        <title>Public Finance Authority</title>
        <cusip>74443UBB8</cusip>
        <identifiers>
          <isin value="US74443UBB89"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1115380.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2047-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NOBLE ENERGY INC</name>
        <lei>02VFQXG2D1LR5ZH3K186</lei>
        <title>Noble Energy Inc</title>
        <cusip>655044AH8</cusip>
        <identifiers>
          <isin value="US655044AH83"/>
          <other otherDesc="Sedol" value="BSJWP85"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20974.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>US TREASURY FRN</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Floating Rate Note</title>
        <cusip>9128287G9</cusip>
        <identifiers>
          <isin value="US9128287G95"/>
          <other otherDesc="Sedol" value="BJVN8S4"/>
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        <balance>1700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1700812.09000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.78610782</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CD Commercial Mortgage Trust</name>
        <lei>N/A</lei>
        <title>CD 2019-CD8 Mortgage Trust</title>
        <cusip>12515BAE8</cusip>
        <identifiers>
          <isin value="US12515BAE83"/>
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        <balance>250000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>256399.48000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2057-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.91200000</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>adidas AG</name>
        <lei>549300JSX0Z4CW0V5023</lei>
        <title>adidas AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000A1EWWW0"/>
          <ticker value="ADS"/>
          <other otherDesc="SEDOL" value="4031976"/>
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        <balance>1000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.90768811"/>
        <valUSD>311505.67000000</valUSD>
        <pctVal>0.060859497650</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>REPUBLIC OF PARAGUAY</name>
        <lei>529900UXKJTJPCU0HK83</lei>
        <title>Paraguay Government International Bond</title>
        <cusip>699149AB6</cusip>
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      <invstOrSec>
        <name>ARIZONA ST INDL DEV AUTH EDU R</name>
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          <maturityDt>2050-05-10</maturityDt>
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      <invstOrSec>
        <name>SPRINT CORP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-09-15</maturityDt>
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      <invstOrSec>
        <name>Marathon Oil Corp</name>
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        <name>G4S PLC</name>
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        <name>Archer-Daniels-Midland Co</name>
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        <fairValLevel>1</fairValLevel>
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        <name>BlackRock Liquidity FedFund</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>ALLENTOWN PA NEIGHBORHOOD IMPT</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Lawson Inc</name>
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        <name>INTL LEASE FINANCE CORP</name>
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        <name>XPO LOGISTICS INC</name>
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        <name>Spirit Realty Capital Inc</name>
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        <name>Diageo PLC</name>
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        <name>Sabra Health Care REIT Inc</name>
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        <name>Asahi Group Holdings Ltd</name>
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        <name>Microsoft Corp</name>
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        <title>Microsoft Corp</title>
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        <name>T-MOBILE USA INC</name>
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        <title>T-Mobile USA Inc</title>
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        <invCountry>US</invCountry>
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        <name>DuPont de Nemours Inc</name>
        <lei>5493004JF0SDFLM8GD76</lei>
        <title>DuPont de Nemours Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>GAIN CAPITAL HOLDINGS IN</name>
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              <title>GAIN Capital Holdings Inc</title>
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              <title>Chefs' Warehouse Inc/The</title>
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        <name>NOBLE ENERGY INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Equity Residential</name>
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        <title>Equity Residential</title>
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          <ticker value="EQR"/>
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        <name>JPMORGAN CHASE &amp; CO</name>
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        <title>JPMorgan Chase &amp; Co</title>
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      <invstOrSec>
        <name>MAUSER PACKAGING SOLUT</name>
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      <invstOrSec>
        <name>SBA COMMUNICATIONS CORP</name>
        <lei>5299001HX8ZN8Y8QIT49</lei>
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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>Merck &amp; Co Inc</name>
        <lei>4YV9Y5M8S0BRK1RP0397</lei>
        <title>Merck &amp; Co Inc</title>
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          <isin value="US58933Y1055"/>
          <ticker value="MRK"/>
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        <curCd>USD</curCd>
        <valUSD>6739014.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>HCA INC</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA Inc</title>
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          <other otherDesc="Sedol" value="BVD8LL5"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>J.P. MORGAN CHASE BANK NA</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>REPUBLIC OF GEORGIA</name>
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        <title>Georgia Government International Bond</title>
        <cusip>000000000</cusip>
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          <other otherDesc="SEDOL" value="B6753L1"/>
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        <issuerCat>NUSS</issuerCat>
        <invCountry>GE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Occidental Petroleum Corp</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
        <title>Occidental Petroleum Corp</title>
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          <ticker value="OXY"/>
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        <invCountry>US</invCountry>
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        <name>KAR AUCTION SERVICES INC</name>
        <lei>5493004HKD20LBSG7D03</lei>
        <title>KAR Auction Services Inc</title>
        <cusip>48238TAA7</cusip>
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          <other otherDesc="Sedol" value="BD3VQ24"/>
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        <name>OLIN CORP</name>
        <lei>549300GKK294V7W57P06</lei>
        <title>Olin Corp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Welltower Inc</name>
        <lei>T6IZ0MBEG5ACZDTR7D06</lei>
        <title>Welltower Inc</title>
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        <name>DALLAS-FORT WORTH TX INTERNATI</name>
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        <title>Dallas/Fort Worth International Airport</title>
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        <name>CVS HEALTH CORP</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS Health Corp</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-08-15</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>OLIN CORP</name>
        <lei>549300GKK294V7W57P06</lei>
        <title>Olin Corp</title>
        <cusip>680665AJ5</cusip>
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          <isin value="US680665AJ53"/>
          <other otherDesc="Sedol" value="BDFC7J9"/>
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        <balance>437000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>454402.43000000</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>2027-09-15</maturityDt>
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          <annualizedRt>5.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SINOPEC GRP DEV 2018</name>
        <lei>549300C6OZZ8LTVR8209</lei>
        <title>Sinopec Group Overseas Development 2018 Ltd</title>
        <cusip>82939GAF5</cusip>
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          <isin value="US82939GAF54"/>
          <other otherDesc="Sedol" value="BJQ1ZF9"/>
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        <balance>610000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>608883.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Orange SA</name>
        <lei>969500MCOONR8990S771</lei>
        <title>Orange SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000133308"/>
          <ticker value="ORA"/>
          <other otherDesc="SEDOL" value="5176177"/>
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        <balance>50590.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GMAC CAPITAL TRUST I</name>
        <lei>N/A</lei>
        <title>GMAC Capital Trust I</title>
        <cusip>361860208</cusip>
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          <isin value="US3618602086"/>
          <ticker value="ALLY 8.125"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>129650.00000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>MGM RESORTS INTL</name>
        <lei>54930066VBP7DZEGGJ87</lei>
        <title>MGM Resorts International</title>
        <cusip>552953CE9</cusip>
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          <isin value="US552953CE90"/>
          <other otherDesc="Sedol" value="BFNJ451"/>
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        <balance>285000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>318840.90000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ARAB REPUBLIC OF EGYPT</name>
        <lei>529900GFIVH4086NMH82</lei>
        <title>Egypt Government International Bond</title>
        <cusip>03846JW89</cusip>
        <identifiers>
          <isin value="US03846JW891"/>
          <other otherDesc="Sedol" value="BGSGVZ3"/>
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        <balance>466000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>502252.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>EG</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.70020000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>REPUBLIC OF ARGENTINA</name>
        <lei>549300KPBYGYF7HCHO27</lei>
        <title>Argentine Republic Government International Bond</title>
        <cusip>040114HK9</cusip>
        <identifiers>
          <isin value="US040114HK99"/>
          <other otherDesc="Sedol" value="BDVK8Y9"/>
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        <balance>229000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>99915.45000000</valUSD>
        <pctVal>0.019520685111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.62500000</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>CYRUSONE LP/CYRUSONE FIN</name>
        <lei>N/A</lei>
        <title>CyrusOne LP / CyrusOne Finance Corp</title>
        <cusip>23283PAK0</cusip>
        <identifiers>
          <isin value="US23283PAK03"/>
          <other otherDesc="Sedol" value="BFWM718"/>
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        <balance>378000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>416876.36000000</valUSD>
        <pctVal>0.081445984120</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>5.37500000</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>
        <name>PRECISION DRILLING CORP</name>
        <lei>549300WF2OE8T5BP4B84</lei>
        <title>Precision Drilling Corp</title>
        <cusip>740212AL9</cusip>
        <identifiers>
          <isin value="US740212AL91"/>
          <other otherDesc="Sedol" value="BDRYRN7"/>
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        <balance>400000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>350861.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12500000</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>Goldman Sachs Financial Square Government Fund</name>
        <lei>N/A</lei>
        <title>Goldman Sachs Financial Square Government Fund</title>
        <cusip>38141W273</cusip>
        <identifiers>
          <isin value="US38141W2733"/>
          <ticker value="FGTXX"/>
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        <balance>2916048.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2916048.00000000</valUSD>
        <pctVal>0.569714241175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Abbott Laboratories</name>
        <lei>HQD377W2YR662HK5JX27</lei>
        <title>Abbott Laboratories</title>
        <cusip>002824100</cusip>
        <identifiers>
          <isin value="US0028241000"/>
          <ticker value="ABT"/>
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        <balance>74700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6383115.00000000</valUSD>
        <pctVal>1.247082187454</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>
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      <invstOrSec>
        <name>ALLISON TRANSMISSION INC</name>
        <lei>MWKQ3I0U1GXP2YDSZW75</lei>
        <title>Allison Transmission Inc</title>
        <cusip>019736AF4</cusip>
        <identifiers>
          <isin value="US019736AF46"/>
          <other otherDesc="Sedol" value="BHRH8R5"/>
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        <balance>575000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>621616.69000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</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>ENCOMPASS HEALTH CORP</name>
        <lei>549300FVRPM9DRQZRG64</lei>
        <title>Encompass Health Corp</title>
        <cusip>421924BK6</cusip>
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          <isin value="US421924BK63"/>
          <other otherDesc="Sedol" value="B7X3YR9"/>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>243897.60000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BOMBARDIER INC</name>
        <lei>W7L3VLU8EHQY34Z36697</lei>
        <title>Bombardier Inc</title>
        <cusip>097751BJ9</cusip>
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          <other otherDesc="Sedol" value="BL9FKQ8"/>
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        <balance>240000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>241200.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>American International Group I</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group Inc</title>
        <cusip>026874784</cusip>
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          <isin value="US0268747849"/>
          <ticker value="AIG"/>
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        <balance>118900.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6261274.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>STORE Capital Corp</name>
        <lei>5493004EA6C9IHDZ7N66</lei>
        <title>STORE Capital Corp</title>
        <cusip>862121100</cusip>
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          <isin value="US8621211007"/>
          <ticker value="STOR"/>
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        <balance>27167.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Assura PLC</name>
        <lei>21380026T19N2Y52XF72</lei>
        <title>Assura PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BVGBWW93"/>
          <ticker value="AGR"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Grainger PLC</name>
        <lei>2138007CEIRKZMNI2979</lei>
        <title>Grainger PLC</title>
        <cusip>000000000</cusip>
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          <ticker value="GRI"/>
          <other otherDesc="SEDOL" value="B04V127"/>
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        <balance>192741.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KFC HLD/PIZZA HUT/TACO</name>
        <lei>N/A</lei>
        <title>KFC Holding Co/Pizza Hut Holdings LLC/Taco Bell of America LLC</title>
        <cusip>48250NAB1</cusip>
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          <isin value="US48250NAB10"/>
          <other otherDesc="Sedol" value="BD203H6"/>
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        <balance>470000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>499433.75000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>AT&amp;T Inc</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>SOUTHERN CAL EDISON</name>
        <lei>9R1Z5I36FERIBVKW4P77</lei>
        <title>Southern California Edison Co</title>
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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>2029-03-01</maturityDt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>31418DHM7</cusip>
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          <isin value="US31418DHM74"/>
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        <balance>238045.82000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-01</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NOBLE ENERGY INC</name>
        <lei>02VFQXG2D1LR5ZH3K186</lei>
        <title>Noble Energy Inc</title>
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          <isin value="US655044AR65"/>
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        <balance>15000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-10-15</maturityDt>
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          <annualizedRt>4.20000000</annualizedRt>
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      <invstOrSec>
        <name>EL PASO ENERGY CAP TRST</name>
        <lei>N/A</lei>
        <title>El Paso Energy Capital Trust I</title>
        <cusip>283678209</cusip>
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          <isin value="US2836782092"/>
          <ticker value="EP C"/>
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        <balance>37300.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Halliburton Co</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>Halliburton Co</title>
        <cusip>406216101</cusip>
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          <isin value="US4062161017"/>
          <ticker value="HAL"/>
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        <balance>321600.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SINCLAIR TELEVISION GROU</name>
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        <title>Sinclair Television Group Inc</title>
        <cusip>829259AW0</cusip>
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          <isin value="US829259AW02"/>
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        <balance>362000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Invitation Homes Inc</name>
        <lei>N/A</lei>
        <title>Invitation Homes Inc</title>
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          <isin value="US46187W1071"/>
          <ticker value="INVH"/>
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        <balance>50394.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ENTERGY TEXAS INC</name>
        <lei>LWXX58X12AJXISQ28573</lei>
        <title>Entergy Texas Inc</title>
        <cusip>29365TAJ3</cusip>
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          <isin value="US29365TAJ34"/>
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        <balance>115000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>119535.55000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-09-30</maturityDt>
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      <invstOrSec>
        <name>COMMSCOPE TECH LLC</name>
        <lei>M4TWC4QDOKW45N7T6Y12</lei>
        <title>CommScope Technologies LLC</title>
        <cusip>20338HAB9</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-03-15</maturityDt>
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      <invstOrSec>
        <name>Fannie Mae</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Fannie Mae Pool</title>
        <cusip>3140J9SN2</cusip>
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          <isin value="US3140J9SN27"/>
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        <balance>987884.55000000</balance>
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        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-11-01</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Vanguard FTSE Developed Markets ETF</name>
        <lei>N/A</lei>
        <title>Vanguard FTSE Developed Markets ETF</title>
        <cusip>921943858</cusip>
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          <isin value="US9219438580"/>
          <ticker value="VEA"/>
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        <balance>7980.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Dollar Tree Inc</name>
        <lei>549300PMSTQITB1WHR43</lei>
        <title>Dollar Tree Inc</title>
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          <ticker value="DLTR"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Danone SA</name>
        <lei>969500KMUQ2B6CBAF162</lei>
        <title>Danone SA</title>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>INFOR US INC</name>
        <lei>CIOT8TLNSHRE7MIBDR09</lei>
        <title>Infor US Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>STANDARD INDUSTRIES INC</name>
        <lei>54930064UHXCIUWVI755</lei>
        <title>Standard Industries Inc/NJ</title>
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        <name>REPUBLIC OF AZERBAIJAN</name>
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        <invCountry>AZ</invCountry>
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        <name>DAE FUNDING LLC</name>
        <lei>635400SZTPQL3Y1P2C76</lei>
        <title>DAE Funding LLC</title>
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        <invCountry>AE</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-11-15</maturityDt>
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      <invstOrSec>
        <name>Securitas AB</name>
        <lei>635400TTYKE8EIWDS617</lei>
        <title>Securitas AB</title>
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          <ticker value="SECUB"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CSC HOLDINGS LLC</name>
        <lei>3HG2WD2W22M120IUNG49</lei>
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          <isin value="US126307AF48"/>
          <other otherDesc="Sedol" value="B813RS0"/>
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        <balance>370000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>399045.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>GLOBAL PAYMENTS INC</name>
        <lei>549300NOMHGVQBX6S778</lei>
        <title>Global Payments Inc</title>
        <cusip>37940XAA0</cusip>
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          <isin value="US37940XAA00"/>
          <other otherDesc="Sedol" value="BJXV2Y0"/>
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        <balance>135000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>135524.16000000</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>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CSN RESOURCES SA</name>
        <lei>222100ZEX458NMOXZP08</lei>
        <title>CSN Resources SA</title>
        <cusip>12644VAC2</cusip>
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          <isin value="US12644VAC28"/>
          <other otherDesc="Sedol" value="BK58W35"/>
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        <balance>297000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>304981.13000000</valUSD>
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        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-04-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</annualizedRt>
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      <invstOrSec>
        <name>REPUBLIC OF EL SALVADOR</name>
        <lei>529900AKDMUSFSDOM949</lei>
        <title>El Salvador Government International Bond</title>
        <cusip>283875BZ4</cusip>
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          <isin value="US283875BZ44"/>
          <other otherDesc="Sedol" value="BJBLT29"/>
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        <balance>505000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>513905.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>NUSS</issuerCat>
        <invCountry>SV</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.12460000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>PACIFICORP</name>
        <lei>SGY07Y7FNYBNLM6Z1M11</lei>
        <title>PacifiCorp</title>
        <cusip>695114CU0</cusip>
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          <isin value="US695114CU02"/>
          <other otherDesc="Sedol" value="BJBCC78"/>
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        <balance>75000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>81216.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>QUOTIENT TECHNOLOGY INC</name>
        <lei>5493005ZZT58VQ9RKP56</lei>
        <title>Quotient Technology Inc</title>
        <cusip>749119AB9</cusip>
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          <isin value="US749119AB98"/>
          <other otherDesc="Sedol" value="BGSGKG7"/>
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        <balance>1564000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1538107.35000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Quotient Technology Inc</name>
              <title>Quotient Technology Inc</title>
              <curCd>USD</curCd>
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                <cusip value="749119103"/>
                <isin value="US7491191034"/>
                <ticker value="QUOT"/>
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          <currencyInfos>
            <currencyInfo convRatio="57.60370000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
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      <invstOrSec>
        <name>VERSCEND ESCROW CORP</name>
        <lei>N/A</lei>
        <title>Verscend Escrow Corp</title>
        <cusip>92535WAA8</cusip>
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          <isin value="US92535WAA80"/>
          <other otherDesc="Sedol" value="BD0BPV9"/>
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        <balance>225000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>242443.13000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.75000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMBB Commercial Mortgage Secu</name>
        <lei>N/A</lei>
        <title>JPMBB Commercial Mortgage Securities Trust 2015-C33</title>
        <cusip>46645JAD4</cusip>
        <identifiers>
          <isin value="US46645JAD46"/>
          <other otherDesc="Sedol" value="BZ1HBV2"/>
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        <balance>500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>536839.55000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.76970000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KDDI Corp</name>
        <lei>5299003FU7V4I45FU310</lei>
        <title>KDDI Corp</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3496400007"/>
          <ticker value="9433"/>
          <other otherDesc="SEDOL" value="6248990"/>
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        <balance>29900.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="109.45500000"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BBVA BANCOMER SA TEXAS</name>
        <lei>549300WIWQK5Q9MCUN92</lei>
        <title>BBVA Bancomer SA/Texas</title>
        <cusip>05533UAC2</cusip>
        <identifiers>
          <isin value="US05533UAC27"/>
          <other otherDesc="Sedol" value="B844FP3"/>
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        <balance>274000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>297016.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERIGAS PART/FIN CORP</name>
        <lei>N/A</lei>
        <title>AmeriGas Partners LP / AmeriGas Finance Corp</title>
        <cusip>030981AJ3</cusip>
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          <isin value="US030981AJ33"/>
          <other otherDesc="Sedol" value="BYMXB45"/>
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        <balance>224000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>246360.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Oracle Corp</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>Oracle Corp</title>
        <cusip>68389X105</cusip>
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          <isin value="US68389X1054"/>
          <ticker value="ORCL"/>
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        <curCd>USD</curCd>
        <valUSD>6703116.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>GCI LIBERTY INC</name>
        <lei>N/A</lei>
        <title>GCI Liberty Inc</title>
        <cusip>36164VAA5</cusip>
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          <isin value="US36164VAA52"/>
          <other otherDesc="Sedol" value="BFMF999"/>
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        <balance>1626000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2186038.30000000</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>2046-09-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.75000000</annualizedRt>
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          <isContngtConvrtbl>N</isContngtConvrtbl>
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            <dbtSecRefInstrument>
              <name>Charter Communications Inc</name>
              <title>Charter Communications Inc</title>
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                <isin value="US16119P1084"/>
                <ticker value="CHTR"/>
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      <invstOrSec>
        <name>M-S-R CA ENERGY AUTH GAS REVEN</name>
        <lei>549300UEMSS1JTK5YB98</lei>
        <title>M-S-R ENERGY AUTHORITY</title>
        <cusip>55374SAJ9</cusip>
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          <isin value="US55374SAJ96"/>
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        <balance>1000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1549880.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.50000000</annualizedRt>
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      <invstOrSec>
        <name>AVOLON HOLDINGS FNDG LTD</name>
        <lei>635400ZRKEX9L1BKCH30</lei>
        <title>Avolon Holdings Funding Ltd</title>
        <cusip>05401AAG6</cusip>
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          <isin value="US05401AAG67"/>
          <other otherDesc="Sedol" value="BJV0CQ1"/>
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        <balance>130000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>137299.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SABINE PASS LIQUEFACTION</name>
        <lei>549300KJYBG7C6WJYZ11</lei>
        <title>Sabine Pass Liquefaction LLC</title>
        <cusip>785592AM8</cusip>
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          <isin value="US785592AM87"/>
          <other otherDesc="Sedol" value="BYVXVW4"/>
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        <balance>55000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>61464.99000000</valUSD>
        <pctVal>0.012008540372</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>5.62500000</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>INTERCONTINENTAL EXCHANGE</name>
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        <balance>240000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>264024.00000000</valUSD>
        <pctVal>0.051582907007</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-06-15</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>6.50000000</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>JPMORGAN CHASE &amp; CO</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co</title>
        <cusip>48128BAF8</cusip>
        <identifiers>
          <isin value="US48128BAF85"/>
          <other otherDesc="Sedol" value="BK6YKL6"/>
        </identifiers>
        <balance>85000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>88718.75000000</valUSD>
        <pctVal>0.017333163011</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>Floating</couponKind>
          <annualizedRt>5.00000000</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>NATIONAL RURAL UTIL COOP</name>
        <lei>4NYF266XZC35SCTGX023</lei>
        <title>National Rural Utilities Cooperative Finance Corp</title>
        <cusip>637432MT9</cusip>
        <identifiers>
          <isin value="US637432MT91"/>
          <other otherDesc="Sedol" value="B944L07"/>
        </identifiers>
        <balance>5000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5161.41000000</valUSD>
        <pctVal>0.001008395191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2043-04-30</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>4.75000000</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>Cousins Properties Inc</name>
        <lei>5493007XPYD5EJABN062</lei>
        <title>Cousins Properties Inc</title>
        <cusip>222795502</cusip>
        <identifiers>
          <isin value="US2227955026"/>
          <ticker value="CUZ"/>
        </identifiers>
        <balance>29824.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1207573.76000000</valUSD>
        <pctVal>0.235926146737</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>SERVICE CORP INTL</name>
        <lei>549300RKVM2ME20JHZ15</lei>
        <title>Service Corp International/US</title>
        <cusip>817565CD4</cusip>
        <identifiers>
          <isin value="US817565CD49"/>
          <other otherDesc="Sedol" value="BD0RZM8"/>
        </identifiers>
        <balance>280000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>291150.30000000</valUSD>
        <pctVal>0.056882627526</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-12-15</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>HELIX ENERGY SOLUTIONS</name>
        <lei>416AP2JOUTCWEGSOZW41</lei>
        <title>Helix Energy Solutions Group Inc</title>
        <cusip>42330PAH0</cusip>
        <identifiers>
          <isin value="US42330PAH01"/>
          <other otherDesc="Sedol" value="BYMB6M2"/>
        </identifiers>
        <balance>2574000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2641274.84000000</valUSD>
        <pctVal>0.516031248870</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>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>Y</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Helix Energy Solutions Group I</name>
              <title>Helix Energy Solutions Group Inc</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="42330P107"/>
                <isin value="US42330P1075"/>
                <ticker value="HLX"/>
                <other otherDesc="SEDOL" value="2037062"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="71.97480000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MGM GROWTH/MGM FINANCE</name>
        <lei>N/A</lei>
        <title>MGM Growth Properties Operating Partnership LP / MGP Finance Co-Issuer Inc</title>
        <cusip>55303XAG0</cusip>
        <identifiers>
          <isin value="US55303XAG07"/>
          <other otherDesc="Sedol" value="BHQTTP7"/>
        </identifiers>
        <balance>160000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>179400.00000000</valUSD>
        <pctVal>0.035049743648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.75000000</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>SITE Centers Corp</name>
        <lei>W2AVA6SODOQ1LCYJQR54</lei>
        <title>SITE Centers Corp</title>
        <cusip>82981J109</cusip>
        <identifiers>
          <isin value="US82981J1097"/>
          <ticker value="SITC"/>
        </identifiers>
        <balance>87976.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1274772.24000000</valUSD>
        <pctVal>0.249054850737</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>Fresenius Medical Care AG &amp; Co</name>
        <lei>549300CP8NY40UP89Q40</lei>
        <title>Fresenius Medical Care AG &amp; Co KGaA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE0005785802"/>
          <ticker value="FME"/>
          <other otherDesc="SEDOL" value="5129074"/>
        </identifiers>
        <balance>13340.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.90768811"/>
        <valUSD>978210.89000000</valUSD>
        <pctVal>0.191115055344</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alpine Income Property Trust I</name>
        <lei>N/A</lei>
        <title>Alpine Income Property Trust Inc</title>
        <cusip>02083X103</cusip>
        <identifiers>
          <isin value="US02083X1037"/>
          <ticker value="PINE"/>
        </identifiers>
        <balance>62010.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1163927.70000000</valUSD>
        <pctVal>0.227398927037</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>Intel Corp</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp</title>
        <cusip>458140100</cusip>
        <identifiers>
          <isin value="US4581401001"/>
          <ticker value="INTC"/>
        </identifiers>
        <balance>116200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6745410.00000000</valUSD>
        <pctVal>1.317864500024</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>SIRIUS XM RADIO INC</name>
        <lei>WP5O65E6BMU84LNO4227</lei>
        <title>Sirius XM Radio Inc</title>
        <cusip>82967NBA5</cusip>
        <identifiers>
          <isin value="US82967NBA54"/>
          <other otherDesc="Sedol" value="BDZVVB6"/>
        </identifiers>
        <balance>470000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>495861.75000000</valUSD>
        <pctVal>0.096877520750</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</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>JEFFERIES GRP LLC / CAP</name>
        <lei>N/A</lei>
        <title>Jefferies Group LLC / Jefferies Group Capital Finance Inc</title>
        <cusip>47233JBH0</cusip>
        <identifiers>
          <isin value="US47233JBH05"/>
          <other otherDesc="Sedol" value="BD1DDP4"/>
        </identifiers>
        <balance>170000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>175336.86000000</valUSD>
        <pctVal>0.034255919705</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TIME WARNER CABLE LLC</name>
        <lei>549300U5NFR7S6E3GM41</lei>
        <title>Time Warner Cable LLC</title>
        <cusip>88732JAN8</cusip>
        <identifiers>
          <isin value="US88732JAN81"/>
          <other otherDesc="Sedol" value="B3B14R7"/>
        </identifiers>
        <balance>60000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>77022.25000000</valUSD>
        <pctVal>0.015047993967</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.30000000</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>PALM BEACH HLTH-A</name>
        <lei>N/A</lei>
        <title>PALM BEACH COUNTY HEALTH FACILITIES AUTHORITY</title>
        <cusip>696507TD4</cusip>
        <identifiers>
          <isin value="US696507TD49"/>
        </identifiers>
        <balance>325000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>366015.00000000</valUSD>
        <pctVal>0.071509096552</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.50000000</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>iShares Russell 1000 Value ETF</name>
        <lei>549300KLSYN5NN4YNM90</lei>
        <title>iShares Russell 1000 Value ETF</title>
        <cusip>464287598</cusip>
        <identifiers>
          <isin value="US4642875987"/>
          <ticker value="IWD"/>
        </identifiers>
        <balance>10870.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1457449.60000000</valUSD>
        <pctVal>0.284744898889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>KOPPERS INC</name>
        <lei>LTO4ZL5EBDR1NE6FGJ36</lei>
        <title>Koppers Inc</title>
        <cusip>500605AH3</cusip>
        <identifiers>
          <isin value="US500605AH33"/>
          <other otherDesc="Sedol" value="BYXH328"/>
        </identifiers>
        <balance>434000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>440505.66000000</valUSD>
        <pctVal>0.086062488621</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</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>STATE STREET CORP</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>State Street Corp</title>
        <cusip>857477AL7</cusip>
        <identifiers>
          <isin value="US857477AL77"/>
          <other otherDesc="Sedol" value="B96WF41"/>
        </identifiers>
        <balance>10000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10335.06000000</valUSD>
        <pctVal>0.002019181736</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.10000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-01-23</ncom:dateSigned>
      <ncom:nameOfApplicant>Delaware Group Equity Funds V</ncom:nameOfApplicant>
      <ncom:signature>Dan Geatans</ncom:signature>
      <ncom:signerName>Dan Geatans</ncom:signerName>
      <ncom:title>Head of US and EMEA Fund Administration</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
