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        <name>FMG RESOURCES AUGUST 2006 PTY LTD 5.125% 05/15/2024 144A</name>
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        <name>CHS/Community Health Systems Inc 8% 03/15/2026 144A</name>
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        <name>2020 Cash Mandatory Exchangeable Trust 5.25% CNV PFD *CSHZZ* 144A</name>
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        <name>JPMORGAN CHASE &amp; CO 6.00% 2/1/2169 PERP</name>
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        <name>GOVT NATL MORTG ASSN 3.5% 01/20/2050 SF2</name>
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        <name>Weatherford International PLC ORD USD 0.001</name>
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        <name>Kraft Heinz Foods Co 4.625% 01/30/2029</name>
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        <name>Mauser Packaging Solutions Holding Co 5.50% 04/15/2024 144A</name>
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        <name>General Motors Co 6.125% 10/01/2025</name>
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        <name>POST HOLDINGS INC 5.625% 01/15/2028 144A</name>
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        <name>FANNIE MAE 4% 02/01/2050 FNL</name>
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        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-02-01</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>Mauser Packaging Solutions Holding Co 7.25% 04/15/2025 144A</name>
        <lei>549300DNGHXL0OMHW304</lei>
        <title>Mauser Packaging Solutions Holding Co 7.25% 04/15/2025 144A</title>
        <cusip>12429TAE4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="662819"/>
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        <balance>23000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>20924020.00000000</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>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CAPITAL ONE FINANCIAL CORP 4.20% 10/29/2025</name>
        <lei>ZUE8T73ROZOF6FLBAR73</lei>
        <title>CAPITAL ONE FINANCIAL CORP 4.20% 10/29/2025</title>
        <cusip>14040HBJ3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="615933"/>
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        <balance>15500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17220496.44000000</valUSD>
        <pctVal>0.422570298866</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-10-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>S&amp;P 500 INDEX STRIKE 3000 EXPIRES 09/18/20 PUTS</title>
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        <identifiers>
          <ticker value="SPX 9 P3000"/>
          <other otherDesc="Internal Identifier" value="1010642"/>
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        <balance>1000.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>12037000.00000000</valUSD>
        <pctVal>0.295373522196</pctVal>
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        <assetCat>DE</assetCat>
        <issuerConditional desc="Index" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>Credit Suisse Securities (Europe) Ltd.</counterpartyName>
              <counterpartyLei>DL6FFRRLF74S01HE2M14</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
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                <issuerName>S&amp;P 500 INDEX STRIKE 3000 EXPIRES 09/18/20 PUTS</issuerName>
                <issueTitle>S&amp;P 500 INDEX STRIKE 3000 EXPIRES 09/18/20 PUTS</issueTitle>
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                  <ticker value="SPX 9 P3000"/>
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            </descRefInstrmnt>
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      <invstOrSec>
        <name>Ashtead Capital Inc 4.25% 11/01/2029 144A</name>
        <lei>213800J1134IW58IC398</lei>
        <title>Ashtead Capital Inc 4.25% 11/01/2029 144A</title>
        <cusip>045054AL7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1019129"/>
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        <balance>4500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4511250.00000000</valUSD>
        <pctVal>0.110700656476</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CUMMINS INC COM USD2.5</name>
        <lei>ZUNI8PYC725B6H8JU438</lei>
        <title>CUMMINS INC COM USD2.5</title>
        <cusip>231021106</cusip>
        <identifiers>
          <ticker value="CMI"/>
          <other otherDesc="Internal Identifier" value="29644"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17326000.00000000</valUSD>
        <pctVal>0.425159229506</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>Prudential Financial Inc 5.70% 09/15/2048 *FIXED TO FLOAT*</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>Prudential Financial Inc 5.70% 09/15/2048 *FIXED TO FLOAT*</title>
        <cusip>744320BF8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="931147"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5620538.05000000</valUSD>
        <pctVal>0.137921252842</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-09-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.70000000</annualizedRt>
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          <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>
      <invstOrSec>
        <name>PEPSICO INC COM USD.017</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PEPSICO INC COM USD.017</title>
        <cusip>713448108</cusip>
        <identifiers>
          <ticker value="PEP"/>
          <other otherDesc="Internal Identifier" value="6887"/>
        </identifiers>
        <balance>300000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>39678000.00000000</valUSD>
        <pctVal>0.973650462217</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>METLIFE INC COM USD.01</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>METLIFE INC COM USD.01</title>
        <cusip>59156R108</cusip>
        <identifiers>
          <ticker value="MET"/>
          <other otherDesc="Internal Identifier" value="185823"/>
        </identifiers>
        <balance>535108.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19542144.16000000</valUSD>
        <pctVal>0.479540745352</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>PHILIP MORRIS INTERNATIONAL INC COM USD NPV</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>PHILIP MORRIS INTERNATIONAL INC COM USD NPV</title>
        <cusip>718172109</cusip>
        <identifiers>
          <ticker value="PM"/>
          <other otherDesc="Internal Identifier" value="415725"/>
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        <balance>350000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24521000.00000000</valUSD>
        <pctVal>0.601715887494</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>FORD MOTOR CO 4.346% 12/08/2026</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>FORD MOTOR CO 4.346% 12/08/2026</title>
        <cusip>345370CR9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="654910"/>
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        <balance>13500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12633840.00000000</valUSD>
        <pctVal>0.310019258923</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.34600000</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>CHS/Community Health Systems Inc 8.125% 06/30/2024 144A</name>
        <lei>5493007X5NC5XI1BB106</lei>
        <title>CHS/Community Health Systems Inc 8.125% 06/30/2024 144A</title>
        <cusip>12543DBA7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="878322"/>
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        <balance>49344000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33214186.56000000</valUSD>
        <pctVal>0.815036244173</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ROYAL DUTCH SHELL PLC SPONSORED ADR A</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>ROYAL DUTCH SHELL PLC SPONSORED ADR A</title>
        <cusip>780259206</cusip>
        <identifiers>
          <ticker value="RDS/A"/>
          <other otherDesc="Internal Identifier" value="339933"/>
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        <balance>900000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29421000.00000000</valUSD>
        <pctVal>0.721956002038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Weatherford International Ltd 11% 12/01/2024 144A</name>
        <lei>549300A2JKMG5PGOGF82</lei>
        <title>Weatherford International Ltd 11% 12/01/2024 144A</title>
        <cusip>947075AP2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1033481"/>
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        <balance>39344000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27540800.00000000</valUSD>
        <pctVal>0.675818152372</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SPRINT COMMUNICATIONS INC 7.00% 08/15/2020</name>
        <lei>549300JKU50UT08ZWD77</lei>
        <title>SPRINT COMMUNICATIONS INC 7.00% 08/15/2020</title>
        <cusip>852061AR1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="528322"/>
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        <balance>7500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7542975.00000000</valUSD>
        <pctVal>0.185095546530</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ASTRAZENECA PLC ORD GBP.25</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>ASTRAZENECA PLC ORD GBP.25</title>
        <cusip>G0593M107</cusip>
        <identifiers>
          <ticker value="AZN"/>
          <other otherDesc="Internal Identifier" value="34472"/>
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        <balance>455000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81353730"/>
        <valUSD>47351924.20000000</valUSD>
        <pctVal>1.161959344830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC COM USD0.01</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC COM USD0.01</title>
        <cusip>172967424</cusip>
        <identifiers>
          <ticker value="C"/>
          <other otherDesc="Internal Identifier" value="4476"/>
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        <balance>200000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10220000.00000000</valUSD>
        <pctVal>0.250786524619</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase &amp; Co PRF USD 6.00% SER EE *JPM C*</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co PRF USD 6.00% SER EE *JPM C*</title>
        <cusip>48128B648</cusip>
        <identifiers>
          <ticker value="JPM C"/>
          <other otherDesc="Internal Identifier" value="955486"/>
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        <balance>396000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10850400.00000000</valUSD>
        <pctVal>0.266255783437</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>
          <loanByFundCondition isLoanByFund="Y" loanVal="140148.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Bausch Health Cos Inc 9.00% 12/15/2025 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 9.00% 12/15/2025 144A</title>
        <cusip>91911KAP7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="680151"/>
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        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5392050.00000000</valUSD>
        <pctVal>0.132314430535</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CHS/Community Health Systems Inc 6.625% 02/15/2025 144A</name>
        <lei>5493007X5NC5XI1BB106</lei>
        <title>CHS/Community Health Systems Inc 6.625% 02/15/2025 144A</title>
        <cusip>12543DBF6</cusip>
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          <other otherDesc="Internal Identifier" value="1040541"/>
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        <valUSD>36757500.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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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>
      <invstOrSec>
        <name>Tenet Healthcare Corp 05/01/2025</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>Tenet Healthcare Corp 05/01/2025</title>
        <cusip>88033GCU2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="920108"/>
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        <valUSD>2415525.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Occidental Petroleum Corp 8% 07/15/2025</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
        <title>Occidental Petroleum Corp 8% 07/15/2025</title>
        <cusip>674599DY8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1087700"/>
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        <balance>5000000.00000000</balance>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>RTX 8% ELN Issued By SOCIETE GENERALE 8.00% ELN 06/01/2021</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>RTX 8% ELN Issued By SOCIETE GENERALE 8.00% ELN 06/01/2021</title>
        <cusip>83369J596</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1073267"/>
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        <curCd>USD</curCd>
        <valUSD>33642740.38000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ANALOG DEVICES INC COM USD.167</name>
        <lei>GYVOE5EZ4GDAVTU4CQ61</lei>
        <title>ANALOG DEVICES INC COM USD.167</title>
        <cusip>032654105</cusip>
        <identifiers>
          <ticker value="ADI"/>
          <other otherDesc="Internal Identifier" value="30788"/>
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        <balance>260045.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>31891918.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>DISH DBS CORP 5.875% 07/15/2022</name>
        <lei>N/A</lei>
        <title>DISH DBS CORP 5.875% 07/15/2022</title>
        <cusip>25470XAJ4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="530689"/>
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        <balance>27000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27513675.00000000</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>2022-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.87500000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP 7.25% CNV PFD L *BACpL*</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP 7.25% CNV PFD L *BACpL*</title>
        <cusip>060505682</cusip>
        <identifiers>
          <ticker value="BAC"/>
          <other otherDesc="Internal Identifier" value="410912"/>
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        <balance>4666.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6262705.20000000</valUSD>
        <pctVal>0.153679263387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEXTERA ENERGY INC 5.279% CNV PFD *NEE-PP*</name>
        <lei>N/A</lei>
        <title>NEXTERA ENERGY INC 5.279% CNV PFD *NEE-PP*</title>
        <cusip>65339F770</cusip>
        <identifiers>
          <ticker value="NEE"/>
          <other otherDesc="Internal Identifier" value="1046975"/>
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        <balance>400000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>16980000.00000000</valUSD>
        <pctVal>0.416668805092</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DUKE ENERGY CORP COM USD.001</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>DUKE ENERGY CORP COM USD.001</title>
        <cusip>26441C204</cusip>
        <identifiers>
          <ticker value="DUK"/>
          <other otherDesc="Internal Identifier" value="358486"/>
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        <balance>577500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>46136475.00000000</valUSD>
        <pctVal>1.132133681355</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>ABBVIE INC COM USD NPV</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>ABBVIE INC COM USD NPV</title>
        <cusip>00287Y109</cusip>
        <identifiers>
          <ticker value="ABBV"/>
          <other otherDesc="Internal Identifier" value="537642"/>
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        <balance>250000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24545000.00000000</valUSD>
        <pctVal>0.602304818668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>UNITED PARCEL SERVICE INC COM B USD.01</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>UNITED PARCEL SERVICE INC COM B USD.01</title>
        <cusip>911312106</cusip>
        <identifiers>
          <ticker value="UPS"/>
          <other otherDesc="Internal Identifier" value="178470"/>
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        <balance>217700.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24203886.00000000</valUSD>
        <pctVal>0.593934290824</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SLB 9.0% ELN Issued by Societe Generale 9.0% ELN 2/1/2021</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SLB 9.0% ELN Issued by Societe Generale 9.0% ELN 2/1/2021</title>
        <cusip>83369J570</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1038325"/>
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        <balance>429000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8893806.21000000</valUSD>
        <pctVal>0.218243321922</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SPRINT COMMUNICATIONS INC 6.00% 11/15/2022</name>
        <lei>549300JKU50UT08ZWD77</lei>
        <title>SPRINT COMMUNICATIONS INC 6.00% 11/15/2022</title>
        <cusip>852061AS9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="535619"/>
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        <balance>6300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6653524.50000000</valUSD>
        <pctVal>0.163269499591</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.00000000</annualizedRt>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>EQUINIX INC 5.375% 05/15/2027</name>
        <lei>549300EVUN2BTLJ3GT74</lei>
        <title>EQUINIX INC 5.375% 05/15/2027</title>
        <cusip>29444UAR7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="661764"/>
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        <balance>11000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>12026465.00000000</valUSD>
        <pctVal>0.295115005950</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bank of America Corp 3.419% 12/20/28 FIXED TO FLOAT</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp 3.419% 12/20/28 FIXED TO FLOAT</title>
        <cusip>06051GHD4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="875483"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11143800.10000000</valUSD>
        <pctVal>0.273455469484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-20</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.41900000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>IFT MONEY MARKET PORTFOLIO OEMF-SWEEP MONEY MARKET PORTFOLIO</name>
        <lei>N/A</lei>
        <title>IFT MONEY MARKET PORTFOLIO OEMF-SWEEP MONEY MARKET PORTFOLIO</title>
        <cusip>457756500</cusip>
        <identifiers>
          <ticker value="INFXX"/>
          <other otherDesc="Internal Identifier" value="170875"/>
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        <balance>194298630.05000000</balance>
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        <curCd>USD</curCd>
        <valUSD>194298630.05000000</valUSD>
        <pctVal>4.767855006711</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="114000.00000000" isCashCollateral="Y"/>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>RIO TINTO PLC SPONSORED ADR</name>
        <lei>213800YOEO5OQ72G2R82</lei>
        <title>RIO TINTO PLC SPONSORED ADR</title>
        <cusip>767204100</cusip>
        <identifiers>
          <ticker value="RIO"/>
          <other otherDesc="Internal Identifier" value="15985"/>
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        <balance>800000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44944000.00000000</valUSD>
        <pctVal>1.102871777153</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WESCO Distribution Inc 7.125% 06/15/2025 144A</name>
        <lei>549300I2CEZJG9N4AH67</lei>
        <title>WESCO Distribution Inc 7.125% 06/15/2025 144A</title>
        <cusip>95081QAN4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1074796"/>
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        <balance>14000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14800800.00000000</valUSD>
        <pctVal>0.363193854558</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>7.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Southwest Airlines Co 1.25% 05/01/2025 CNV</name>
        <lei>UDTZ87G0STFETI6HGH41</lei>
        <title>Southwest Airlines Co 1.25% 05/01/2025 CNV</title>
        <cusip>844741BG2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1067039"/>
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        <balance>8500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10251263.50000000</valUSD>
        <pctVal>0.251553693358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>JOHNSON &amp; JOHNSON COM USD1</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>JOHNSON &amp; JOHNSON COM USD1</title>
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          <ticker value="JNJ"/>
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        <curCd>USD</curCd>
        <valUSD>42189000.00000000</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>
      <invstOrSec>
        <name>GOVT NATL MORTG ASSN 4% 12/20/2049 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GOVT NATL MORTG ASSN 4% 12/20/2049 SF2</title>
        <cusip>36179VBH2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1030208"/>
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        <curCd>USD</curCd>
        <valUSD>5902899.47000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-12-20</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC 4.125% 07/25/2028</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC 4.125% 07/25/2028</title>
        <cusip>172967KU4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="640849"/>
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        <balance>18500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20923151.83000000</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>2028-07-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freddie Mac Pool 4% 05/01/2049 FNL</name>
        <lei>S6XOOCT0IEG5ABCC6L87</lei>
        <title>Freddie Mac Pool 4% 05/01/2049 FNL</title>
        <cusip>31329QM99</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1040500"/>
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        <balance>5054317.19000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5407004.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>CCO HOLDINGS LLC/CAPITAL CORP 5.50% 05/01/2026 144A</name>
        <lei>N/A</lei>
        <title>CCO HOLDINGS LLC/CAPITAL CORP 5.50% 05/01/2026 144A</title>
        <cusip>1248EPBR3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="631502"/>
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        <balance>10000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10385950.00000000</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>2026-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EXXON MOBIL CORP COM NPV</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>EXXON MOBIL CORP COM NPV</title>
        <cusip>30231G102</cusip>
        <identifiers>
          <ticker value="XOM"/>
          <other otherDesc="Internal Identifier" value="29743"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44720000.00000000</valUSD>
        <pctVal>1.097375086202</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>CVS HEALTH CORP 5.05% 03/25/2048</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP 5.05% 03/25/2048</title>
        <cusip>126650CZ1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="686102"/>
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        <balance>3900000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5081297.09000000</valUSD>
        <pctVal>0.124688927373</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-03-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.05000000</annualizedRt>
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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>TGT 9.0% ELN Issued by JPMorgan Chase Bank, National Association 9.0% ELN 9/22/2020</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>TGT 9.0% ELN Issued by JPMorgan Chase Bank, National Association 9.0% ELN 9/22/2020</title>
        <cusip>48128D651</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1009095"/>
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        <balance>250000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28653766.75000000</valUSD>
        <pctVal>0.703129019617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Diamond Sports Group LLC / Diamond Sports Finance Co 5.375% 08/15/2026 144A</name>
        <lei>N/A</lei>
        <title>Diamond Sports Group LLC / Diamond Sports Finance Co 5.375% 08/15/2026 144A</title>
        <cusip>25277LAA4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="998600"/>
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        <balance>11000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8029120.00000000</valUSD>
        <pctVal>0.197024960915</pctVal>
        <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>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MYLAN NV 3.95% 06/15/2026</name>
        <lei>549300A0CD4KNFGIIS89</lei>
        <title>MYLAN NV 3.95% 06/15/2026</title>
        <cusip>62854AAN4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="671718"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11189159.30000000</valUSD>
        <pctVal>0.274568529771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</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>BELK INC 7.75% 07/31/2025 2019 Term Loans</name>
        <lei>N/A</lei>
        <title>BELK INC 7.75% 07/31/2025 2019 Term Loans</title>
        <cusip>07384DAC6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1018813"/>
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        <balance>17575133.95000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6406136.32000000</valUSD>
        <pctVal>0.157198890795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-31</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TENET HEALTHCARE CORP 8.125% 04/01/2022</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>TENET HEALTHCARE CORP 8.125% 04/01/2022</title>
        <cusip>88033GCE8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="562555"/>
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        <balance>30000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>31554000.00000000</valUSD>
        <pctVal>0.774297260063</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>8.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Colt Merger Sub Inc 6.25% 07/01/2025 144A</name>
        <lei>N/A</lei>
        <title>Colt Merger Sub Inc 6.25% 07/01/2025 144A</title>
        <cusip>28470RAH5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1085602"/>
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        <balance>18000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17904600.00000000</valUSD>
        <pctVal>0.439357378542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-07-01</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>BAYER AG ORD EUR NPV *REGISTERED SHARES*</name>
        <lei>549300J4U55H3WP1XT59</lei>
        <title>BAYER AG ORD EUR NPV *REGISTERED SHARES*</title>
        <cusip>D0712D163</cusip>
        <identifiers>
          <ticker value="BAYN"/>
          <other otherDesc="Internal Identifier" value="54437"/>
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        <balance>311750.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.88995680"/>
        <valUSD>23105945.71000000</valUSD>
        <pctVal>0.566992154859</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co 3.4% 07/26/2029 144A</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co 3.4% 07/26/2029 144A</title>
        <cusip>110122CB2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="980688"/>
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        <balance>8000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9331229.92000000</valUSD>
        <pctVal>0.228977174370</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bausch Health Cos Inc 7.00% 03/15/2024 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 7.00% 03/15/2024 144A</title>
        <cusip>91911KAK8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="661871"/>
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        <balance>4500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4678065.00000000</valUSD>
        <pctVal>0.114794096212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</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>GOVT NATL MORTG ASSN 4% 09/20/2049 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GOVT NATL MORTG ASSN 4% 09/20/2049 SF2</title>
        <cusip>36179UZU9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1009874"/>
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        <balance>4939976.25000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5238016.48000000</valUSD>
        <pctVal>0.128534632966</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-09-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>SPRINT CORP 7.125% 06/15/2024</name>
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        <title>SPRINT CORP 7.125% 06/15/2024</title>
        <cusip>85207UAH8</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ALPHABET INC COM USD.001 CL A</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>ALPHABET INC COM USD.001 CL A</title>
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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>FANNIE MAE 4% 01/01/2050 FNL</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
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        <cusip>31418DKV3</cusip>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-01-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BRISTOL-MYERS SQUIBB CO COM USD0.1</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>BRISTOL-MYERS SQUIBB CO COM USD0.1</title>
        <cusip>110122108</cusip>
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          <ticker value="BMY"/>
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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>Endo Dac / Endo Finance LLC / Endo Finco Inc 6% 06/30/2028 144A</name>
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        <cusip>29273DAC4</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Bausch Health Cos Inc 5.50% 03/01/2023 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 5.50% 03/01/2023 144A</title>
        <cusip>91911KAE2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="595784"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Calumet Specialty Products Partners LP / Calumet Finance Corp 11% 04/15/2025 144A</name>
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        <title>Calumet Specialty Products Partners LP / Calumet Finance Corp 11% 04/15/2025 144A</title>
        <cusip>131477AT8</cusip>
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          <other otherDesc="Internal Identifier" value="1013071"/>
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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>2025-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>CALUMET SPECIALTY PRODUCTS PARTNERS LP/FINANCE C 7.75% 04/15/2023</name>
        <lei>N/A</lei>
        <title>CALUMET SPECIALTY PRODUCTS PARTNERS LP/FINANCE C 7.75% 04/15/2023</title>
        <cusip>131477AQ4</cusip>
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          <other otherDesc="Internal Identifier" value="627242"/>
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        <valUSD>1867290.00000000</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>2023-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</annualizedRt>
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      <invstOrSec>
        <name>WELLS FARGO &amp; CO COM USD.1666</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO COM USD.1666</title>
        <cusip>949746101</cusip>
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          <ticker value="WFC"/>
          <other otherDesc="Internal Identifier" value="20314"/>
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        <curCd>USD</curCd>
        <valUSD>42624000.00000000</valUSD>
        <pctVal>1.045941763736</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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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP COM USD.01</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP COM USD.01</title>
        <cusip>060505104</cusip>
        <identifiers>
          <ticker value="BAC"/>
          <other otherDesc="Internal Identifier" value="19138"/>
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        <balance>365000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8668750.00000000</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>CHS/Community Health Systems Inc 6.875% 04/01/2028 144A</name>
        <lei>5493007X5NC5XI1BB106</lei>
        <title>CHS/Community Health Systems Inc 6.875% 04/01/2028 144A</title>
        <cusip>12543DBE9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1024439"/>
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        <balance>91000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>34068125.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>PROCTER &amp; GAMBLE CO COM NPV</name>
        <lei>2572IBTT8CCZW6AU4141</lei>
        <title>PROCTER &amp; GAMBLE CO COM NPV</title>
        <cusip>742718109</cusip>
        <identifiers>
          <ticker value="PG"/>
          <other otherDesc="Internal Identifier" value="4513"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>59785000.00000000</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>BAC 8.5% ELN Issued by Barclays Bank PLC 8.5% ELN 11/25/2020</name>
        <lei>G5GSEF7VJP5I7OUK5573</lei>
        <title>BAC 8.5% ELN Issued by Barclays Bank PLC 8.5% ELN 11/25/2020</title>
        <cusip>06747D130</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1022181"/>
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        <curCd>USD</curCd>
        <valUSD>14837175.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Par Pharmaceutical Inc 7.50% 04/01/2027 144A</name>
        <lei>549300KK5WR4MGN4YT97</lei>
        <title>Par Pharmaceutical Inc 7.50% 04/01/2027 144A</title>
        <cusip>69888XAA7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="970237"/>
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        <balance>8429000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8678034.81000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>GOLDEN NUGGET INC 6.75% 10/15/2024 144A</name>
        <lei>91D14OD6M4H1RVBN7R43</lei>
        <title>GOLDEN NUGGET INC 6.75% 10/15/2024 144A</title>
        <cusip>38113YAE9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="675849"/>
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        <valUSD>3600000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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      <invstOrSec>
        <name>HighPoint Operating Corp 7.00% 10/15/2022</name>
        <lei>XE2KCQGOGYZ847CKN141</lei>
        <title>HighPoint Operating Corp 7.00% 10/15/2022</title>
        <cusip>06846NAD6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="515944"/>
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        <curCd>USD</curCd>
        <valUSD>4367928.56000000</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>2022-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.00000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>JPMORGAN CHASE &amp; CO COM USD1</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMORGAN CHASE &amp; CO COM USD1</title>
        <cusip>46625H100</cusip>
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          <ticker value="JPM"/>
          <other otherDesc="Internal Identifier" value="344"/>
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        <balance>600000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56436000.00000000</valUSD>
        <pctVal>1.384871653956</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>Bayer US Finance II LLC 4.25% 12/15/2025 144A</name>
        <lei>529900XWNEXYNJ3X6T40</lei>
        <title>Bayer US Finance II LLC 4.25% 12/15/2025 144A</title>
        <cusip>07274NAJ2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="878169"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17246444.85000000</valUSD>
        <pctVal>0.423207041680</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Broadcom Inc 8% CNV PFD a *AVGOP*</name>
        <lei>549300WV6GIDOZJTV909</lei>
        <title>Broadcom Inc 8% CNV PFD a *AVGOP*</title>
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          <ticker value="AVGO"/>
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        <valUSD>55717500.00000000</valUSD>
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        <assetCat>EP</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>BP PLC SPONSORED ADR</name>
        <lei>213800LH1BZH3DI6G760</lei>
        <title>BP PLC SPONSORED ADR</title>
        <cusip>055622104</cusip>
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          <ticker value="BP"/>
          <other otherDesc="Internal Identifier" value="39485"/>
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        <valUSD>19822000.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>Truist Financial Corp COM USD5</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp COM USD5</title>
        <cusip>89832Q109</cusip>
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          <ticker value="TFC"/>
          <other otherDesc="Internal Identifier" value="63877"/>
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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>BARCLAYS PLC ORD GBP.25</name>
        <lei>213800LBQA1Y9L22JB70</lei>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury Note/Bond 2.875% 05/31/2025</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond 2.875% 05/31/2025</title>
        <cusip>9128284R8</cusip>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DOMINION ENERGY INC COM USD NPV</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>DOMINION ENERGY INC COM USD NPV</title>
        <cusip>25746U109</cusip>
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          <ticker value="D"/>
          <other otherDesc="Internal Identifier" value="182154"/>
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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>BANK OF AMERICA CORP 6.25% 03/05/2169 PERP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP 6.25% 03/05/2169 PERP</title>
        <cusip>060505EH3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="585467"/>
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        <balance>6000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6222461.70000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>POST HOLDINGS INC 5.00% 08/15/2026 144A</name>
        <lei>JM1I5YUAURL6DC8N1468</lei>
        <title>POST HOLDINGS INC 5.00% 08/15/2026 144A</title>
        <cusip>737446AK0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="641320"/>
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        <curCd>USD</curCd>
        <valUSD>7542562.50000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>GOLDMAN SACHS GROUP INC 3.272% 09/29/2025 FIXED TO FLOAT</name>
        <lei>784F5XWPLTWKTBV3E584</lei>
        <title>GOLDMAN SACHS GROUP INC 3.272% 09/29/2025 FIXED TO FLOAT</title>
        <cusip>38141GWQ3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="675579"/>
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        <balance>15500000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>16719882.86000000</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>2025-09-29</maturityDt>
          <couponKind>Variable</couponKind>
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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>Cigna Corp 3.75% 07/15/2023</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Corp 3.75% 07/15/2023</title>
        <cusip>125523AF7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1004080"/>
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        <balance>13292000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14438833.23000000</valUSD>
        <pctVal>0.354311624786</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.75000000</annualizedRt>
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          <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>HD 8.5% ELN Issued By Royal Bank Of Canada 8.5% ELN 4/7/2021</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>HD 8.5% ELN Issued By Royal Bank Of Canada 8.5% ELN 4/7/2021</title>
        <cusip>78013P832</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1058101"/>
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        <balance>151500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>34828236.68000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DTE ENERGY CO COM NPV</name>
        <lei>549300IX8SD6XXD71I78</lei>
        <title>DTE ENERGY CO COM NPV</title>
        <cusip>233331107</cusip>
        <identifiers>
          <ticker value="DTE"/>
          <other otherDesc="Internal Identifier" value="42192"/>
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        <balance>100000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10750000.00000000</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>Bausch Health Cos Inc 5.50% 11/01/2025 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 5.50% 11/01/2025 144A</title>
        <cusip>91911KAN2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="675974"/>
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        <balance>35000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>35807100.00000000</valUSD>
        <pctVal>0.878663225607</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CVS 8.5% ELN ISSUED BY UBS AG, LONDON BRANCH CVS 8.5% ELN 8/31/2020</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>CVS 8.5% ELN ISSUED BY UBS AG, LONDON BRANCH CVS 8.5% ELN 8/31/2020</title>
        <cusip>90269A526</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1004526"/>
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        <curCd>USD</curCd>
        <valUSD>25627568.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>GOVT NATL MORTG ASSN 4% 01/20/2050 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GOVT NATL MORTG ASSN 4% 01/20/2050 SF2</title>
        <cusip>36179VDQ0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1038494"/>
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        <balance>11693863.10000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12415066.67000000</valUSD>
        <pctVal>0.304650824177</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2050-01-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BAT Capital Corp 3.222% 08/15/2024</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp 3.222% 08/15/2024</title>
        <cusip>05526DAZ8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="946368"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10721391.30000000</valUSD>
        <pctVal>0.263090064893</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.22200000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Raytheon Technologies Corp 3.95% 08/16/2025</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>Raytheon Technologies Corp 3.95% 08/16/2025</title>
        <cusip>913017DD8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="923653"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17138389.20000000</valUSD>
        <pctVal>0.420555485816</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-08-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BANK OF AMERICA CORP 6.10% 9/17/2167 PERP</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>BANK OF AMERICA CORP 6.10% 9/17/2167 PERP</title>
        <cusip>060505EN0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="599541"/>
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        <balance>8000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8445560.00000000</valUSD>
        <pctVal>0.207243898323</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>6.10000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>US BANCORP COM USD.01</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
        <title>US BANCORP COM USD.01</title>
        <cusip>902973304</cusip>
        <identifiers>
          <ticker value="USB"/>
          <other otherDesc="Internal Identifier" value="203182"/>
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        <balance>550000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>20251000.00000000</valUSD>
        <pctVal>0.496935216249</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>CVS HEALTH CORP 4.10% 03/25/2025</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Bausch Health Cos Inc 5.875% 05/15/2023 144A</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>INTC 8.00% ELN ISSUED BY ROYAL BANK OF CANADA 8.00% ELN 07/17/2020</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CHEVRON CORP COM USD.75</name>
        <lei>N/A</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>Univision Communications Inc 6.625% 06/01/2027 144A</name>
        <lei>549300YQDE2JSGTL8V47</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>GENERAL MOTORS CO 5.15% 04/01/2038</name>
        <lei>54930070NSV60J38I987</lei>
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        <name>CALPINE CORP 5.50% 02/01/2024</name>
        <lei>43R4VPJBXTU2O15HEF41</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>VERIZON COMMUNICATIONS INC COM USD1</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMUNICATIONS INC COM USD1</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>GOVT NATL MORTG ASSN 4% 10/20/2049 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GOVT NATL MORTG ASSN 4% 10/20/2049 SF2</title>
        <cusip>36179U4D1</cusip>
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        <valUSD>5590364.32000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-10-20</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>MOTORS LIQUIDATION CO ESCROW ACCOUNT USD NPV REF SM # 280615</name>
        <lei>N/A</lei>
        <title>MOTORS LIQUIDATION CO ESCROW ACCOUNT USD NPV REF SM # 280615</title>
        <cusip>370ESC717</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="492869"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>United States Treasury Note/Bond 2.75% 05/31/2023</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond 2.75% 05/31/2023</title>
        <cusip>9128284S6</cusip>
        <identifiers>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>HONEYWELL INTERNATIONAL INC COM USD1</name>
        <lei>ISRPG12PN4EIEOEMW547</lei>
        <title>HONEYWELL INTERNATIONAL INC COM USD1</title>
        <cusip>438516106</cusip>
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          <ticker value="HON"/>
          <other otherDesc="Internal Identifier" value="14737"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>UNIVISION COMMUNICATIONS INC 5.125% 05/15/2023 144A</name>
        <lei>549300YQDE2JSGTL8V47</lei>
        <title>UNIVISION COMMUNICATIONS INC 5.125% 05/15/2023 144A</title>
        <cusip>914906AR3</cusip>
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          <other otherDesc="Internal Identifier" value="549931"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Bausch Health Cos Inc 6.125% 04/15/2025 144A</name>
        <lei>B3BS7ACMDUWISF18KY76</lei>
        <title>Bausch Health Cos Inc 6.125% 04/15/2025 144A</title>
        <cusip>91831AAC5</cusip>
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          <other otherDesc="Internal Identifier" value="599700"/>
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        <name>FANNIE MAE 4% 10/01/2047 FNL</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE 4% 10/01/2047 FNL</title>
        <cusip>3140J6GM3</cusip>
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          <other otherDesc="Internal Identifier" value="980679"/>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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        <name>Sempra Energy 6.75% CNV PFD B</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>Sempra Energy 6.75% CNV PFD B</title>
        <cusip>816851505</cusip>
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          <ticker value="SRE"/>
          <other otherDesc="Internal Identifier" value="913818"/>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>SEMPRA ENERGY COM USD NPV</name>
        <lei>PBBKGKLRK5S5C0Y4T545</lei>
        <title>SEMPRA ENERGY COM USD NPV</title>
        <cusip>816851109</cusip>
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          <ticker value="SRE"/>
          <other otherDesc="Internal Identifier" value="36700"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>NETFLIX INC 4.875% 04/15/2028</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>NETFLIX INC 4.875% 04/15/2028</title>
        <cusip>64110LAS5</cusip>
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          <other otherDesc="Internal Identifier" value="942368"/>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2028-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>HOST HOTELS &amp; RESORTS INC REIT USD.01</name>
        <lei>N6EL63S0K3PB1YFTDI24</lei>
        <title>HOST HOTELS &amp; RESORTS INC REIT USD.01</title>
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        <name>Abbvie Inc 3.8% 03/15/2025 144A</name>
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        <name>MALLINCKRODT INTERNATIONAL FINANCE SA/CB LLC 10.00% 04/15/2025 144A</name>
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        <name>FANNIE MAE 4% 08/01/2049 FNL</name>
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        <name>AIR PRODUCTS &amp; CHEMICALS INC COM USD1</name>
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        <name>DISH DBS CORP 5.00% 03/15/2023</name>
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        <lei>5493001I9203PRB5KR45</lei>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>SPRINT CORP 7.875% 09/15/2023</name>
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        <title>SPRINT CORP 7.875% 09/15/2023</title>
        <cusip>85207UAF2</cusip>
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          <other otherDesc="Internal Identifier" value="590243"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SHEA HOMES LP / SHEA HOMES FUNDING CORP 6.125% 04/01/2025 144A</name>
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        <title>SHEA HOMES LP / SHEA HOMES FUNDING CORP 6.125% 04/01/2025 144A</title>
        <cusip>82088KAD0</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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          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cleveland-cliffs Inc 6.75% 03/15/2026 144A</name>
        <lei>549300TM2WLI2BJMDD86</lei>
        <title>Cleveland-cliffs Inc 6.75% 03/15/2026 144A</title>
        <cusip>185899AG6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1050148"/>
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        <curCd>USD</curCd>
        <valUSD>4837500.00000000</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>2026-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>United States Treasury Note/Bond 2.75% 04/30/2023</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Note/Bond 2.75% 04/30/2023</title>
        <cusip>9128284L1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="871039"/>
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        <balance>25000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26817871.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-04-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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      <invstOrSec>
        <name>FEDERAL NATIONAL MORTGAGE ASSOCIATION 5.375% CNV PFD *FNMFO*</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FEDERAL NATIONAL MORTGAGE ASSOCIATION 5.375% CNV PFD *FNMFO*</title>
        <cusip>313586810</cusip>
        <identifiers>
          <ticker value="FNMA"/>
          <other otherDesc="Internal Identifier" value="324494"/>
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        <curCd>USD</curCd>
        <valUSD>11162500.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>FANNIE MAE 3% FNL</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>FANNIE MAE 3% FNL</title>
        <cusip>31418DQ96</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1087017"/>
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        <curCd>USD</curCd>
        <valUSD>5251841.62000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GENERAL MOTORS CO COM USD.01</name>
        <lei>54930070NSV60J38I987</lei>
        <title>GENERAL MOTORS CO COM USD.01</title>
        <cusip>37045V100</cusip>
        <identifiers>
          <ticker value="GM"/>
          <other otherDesc="Internal Identifier" value="481710"/>
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        <curCd>USD</curCd>
        <valUSD>25300000.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>MORGAN STANLEY 5.55% 7/15/2168 PERP</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY 5.55% 7/15/2168 PERP</title>
        <cusip>617474AA9</cusip>
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          <other otherDesc="Internal Identifier" value="599548"/>
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        <balance>2064000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1897232.97000000</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>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.55000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>AAPL 7.0% ELN Issued by JPMorgan Chase Bank, National Association 7.00% ELN 7/20/2020</name>
        <lei>7H6GLXDRUGQFU57RNE97</lei>
        <title>AAPL 7.0% ELN Issued by JPMorgan Chase Bank, National Association 7.00% ELN 7/20/2020</title>
        <cusip>48128D693</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="995881"/>
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        <balance>450000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>101792320.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ORACLE CORP COM USD0.01</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
        <title>ORACLE CORP COM USD0.01</title>
        <cusip>68389X105</cusip>
        <identifiers>
          <ticker value="ORCL"/>
          <other otherDesc="Internal Identifier" value="25597"/>
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        <balance>38400.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2122368.00000000</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>
        <name>WYNN LAS VEGAS LLC/CAPITAL CORP 5.50% 03/01/2025 144A</name>
        <lei>N/A</lei>
        <title>WYNN LAS VEGAS LLC/CAPITAL CORP 5.50% 03/01/2025 144A</title>
        <cusip>983130AV7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="613652"/>
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        <balance>13200000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12120174.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>COMCAST CORP COM A USD1 (NEW)</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>COMCAST CORP COM A USD1 (NEW)</title>
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          <ticker value="CMCSA"/>
          <other otherDesc="Internal Identifier" value="262997"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19490000.00000000</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>AT&amp;T INC 4.125% 02/17/2026</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T INC 4.125% 02/17/2026</title>
        <cusip>00206RCT7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="625101"/>
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        <balance>12000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>13685240.64000000</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>2026-02-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ford Motor Credit Co LLC 5.125% 06/16/2025</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co LLC 5.125% 06/16/2025</title>
        <cusip>345397A60</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1083441"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20095600.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>UNIVISION COMMUNICATIONS INC 5.125% 02/15/2025 144A</name>
        <lei>549300YQDE2JSGTL8V47</lei>
        <title>UNIVISION COMMUNICATIONS INC 5.125% 02/15/2025 144A</title>
        <cusip>914906AS1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="597350"/>
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        <curCd>USD</curCd>
        <valUSD>6747335.70000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>KINDER MORGAN INC 7.75% 01/15/2032</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>KINDER MORGAN INC 7.75% 01/15/2032</title>
        <cusip>28368EAE6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="226790"/>
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        <curCd>USD</curCd>
        <valUSD>29376919.74000000</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>2032-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.75000000</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>GOVT NATL MORTG ASSN 4% 11/20/2049 SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GOVT NATL MORTG ASSN 4% 11/20/2049 SF2</title>
        <cusip>36179U6W7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1022187"/>
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        <balance>16395567.07000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17384749.67000000</valUSD>
        <pctVal>0.426600875843</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-11-20</maturityDt>
          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHS/Community Health Systems Inc 8% 12/15/2027 144A</name>
        <lei>5493007X5NC5XI1BB106</lei>
        <title>CHS/Community Health Systems Inc 8% 12/15/2027 144A</title>
        <cusip>12543DBD1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1024438"/>
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        <balance>32000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>30666720.00000000</valUSD>
        <pctVal>0.752524474587</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>8.00000000</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>TENET HEALTHCARE CORP 6.75% 06/15/2023</name>
        <lei>0W9AIBT6U6ADJ2I8HK17</lei>
        <title>TENET HEALTHCARE CORP 6.75% 06/15/2023</title>
        <cusip>88033GCN8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="611160"/>
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        <balance>58200000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>57821700.00000000</valUSD>
        <pctVal>1.418875067573</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CVS HEALTH CORP COM USD1</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP COM USD1</title>
        <cusip>126650100</cusip>
        <identifiers>
          <ticker value="CVS"/>
          <other otherDesc="Internal Identifier" value="811"/>
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        <balance>520000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>33784400.00000000</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>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNION PACIFIC CORP COM USD2.5</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>UNION PACIFIC CORP COM USD2.5</title>
        <cusip>907818108</cusip>
        <identifiers>
          <ticker value="UNP"/>
          <other otherDesc="Internal Identifier" value="14100"/>
        </identifiers>
        <balance>150000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>25360500.00000000</valUSD>
        <pctVal>0.622316209160</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>TXN 8.50% ELN Issued by UBS AG, London Branch TXN 8.50% ELN 10/8/2020</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>TXN 8.50% ELN Issued by UBS AG, London Branch TXN 8.50% ELN 10/8/2020</title>
        <cusip>90269A492</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1012381"/>
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        <balance>400000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>50958735.20000000</valUSD>
        <pctVal>1.250466154581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>WYNN LAS VEGAS LLC/CAPITAL CORP 5.25% 05/15/2027 144A</name>
        <lei>N/A</lei>
        <title>WYNN LAS VEGAS LLC/CAPITAL CORP 5.25% 05/15/2027 144A</title>
        <cusip>983130AX3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="665553"/>
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        <balance>10000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8666300.00000000</valUSD>
        <pctVal>0.212660592789</pctVal>
        <payoffProfile>Long</payoffProfile>
        <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>5.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CSCO 10% ELN Issued By Credit Suisse AG, LONDON 10% ELN 06/01/2021</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>CSCO 10% ELN Issued By Credit Suisse AG, LONDON 10% ELN 06/01/2021</title>
        <cusip>22550T609</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1072713"/>
        </identifiers>
        <balance>508000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>23604730.54000000</valUSD>
        <pctVal>0.579231735490</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>HCA INC 5.875% 05/01/2023</name>
        <lei>L3CJ6J7LJ2DX62FTXD46</lei>
        <title>HCA INC 5.875% 05/01/2023</title>
        <cusip>404121AG0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="533524"/>
        </identifiers>
        <balance>7500000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8129850.00000000</valUSD>
        <pctVal>0.199496754127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-05-01</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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPRINT COMMUNICATIONS INC 11.50% 11/15/2021</name>
        <lei>549300JKU50UT08ZWD77</lei>
        <title>SPRINT COMMUNICATIONS INC 11.50% 11/15/2021</title>
        <cusip>852061AM2</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="527606"/>
        </identifiers>
        <balance>30000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>33293250.00000000</valUSD>
        <pctVal>0.816976366026</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>IRON MOUNTAIN INC 5.75% 08/15/2024</name>
        <lei>SQL3F6CKNNBM3SQGHX24</lei>
        <title>IRON MOUNTAIN INC 5.75% 08/15/2024</title>
        <cusip>46284PAP9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="532079"/>
        </identifiers>
        <balance>16000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>16203440.00000000</valUSD>
        <pctVal>0.397612955428</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>MALLINCKRODT INTERNATIONAL FINANCE SA/CB LLC 5.75% 08/01/2022 144A</name>
        <lei>N/A</lei>
        <title>MALLINCKRODT INTERNATIONAL FINANCE SA/CB LLC 5.75% 08/01/2022 144A</title>
        <cusip>561233AA5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="582576"/>
        </identifiers>
        <balance>12100000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3055250.00000000</valUSD>
        <pctVal>0.074972165297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>LU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-08-01</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>MET 7.50% ELN Issued by UBS AG, London Branch 7.50% ELN 10/8/2020</name>
        <lei>BFM8T61CT2L1QCEMIK50</lei>
        <title>MET 7.50% ELN Issued by UBS AG, London Branch 7.50% ELN 10/8/2020</title>
        <cusip>90269A518</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1012382"/>
        </identifiers>
        <balance>800000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>30256089.60000000</valUSD>
        <pctVal>0.742448097785</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED STATES TREASURY NOTE/BOND 2.375% 03/15/2021</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>UNITED STATES TREASURY NOTE/BOND 2.375% 03/15/2021</title>
        <cusip>9128284B3</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="687059"/>
        </identifiers>
        <balance>75000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>76168945.50000000</valUSD>
        <pctVal>1.869094435018</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; CO 5.90% 12/15/2168 PERP</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO 5.90% 12/15/2168 PERP</title>
        <cusip>949746RG8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="574881"/>
        </identifiers>
        <balance>6600000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6553943.15000000</valUSD>
        <pctVal>0.160825892871</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>5.90000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DAVITA INC 5.125% 07/15/2024</name>
        <lei>M2XHYMU3TZNEZURC6H66</lei>
        <title>DAVITA INC 5.125% 07/15/2024</title>
        <cusip>23918KAQ1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="578488"/>
        </identifiers>
        <balance>5000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5092500.00000000</valUSD>
        <pctVal>0.124963833329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>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>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BASF SE ORD EUR NPV***REGISTERED SHARES***</name>
        <lei>529900PM64WH8AF1E917</lei>
        <title>BASF SE ORD EUR NPV***REGISTERED SHARES***</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000BASF111"/>
          <other otherDesc="Internal Identifier" value="54436"/>
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        <balance>600000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.88995680"/>
        <valUSD>33698577.76000000</valUSD>
        <pctVal>0.826922622412</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CALUMET SPECIALTY PRODUCTS PARTNERS LP/FINANCE C 7.625% 01/15/2022</name>
        <lei>N/A</lei>
        <title>CALUMET SPECIALTY PRODUCTS PARTNERS LP/FINANCE C 7.625% 01/15/2022</title>
        <cusip>131477AL5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="566789"/>
        </identifiers>
        <balance>8000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7668120.00000000</valUSD>
        <pctVal>0.188166454517</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.62500000</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>GOVT NATL MORTG ASSN 3.5% SF2</name>
        <lei>549300M8ZYFG0OCMTT87</lei>
        <title>GOVT NATL MORTG ASSN 3.5% SF2</title>
        <cusip>36179VN48</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1086342"/>
        </identifiers>
        <balance>66530000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>70677436.96000000</valUSD>
        <pctVal>1.734339411371</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGA</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2050-06-20</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAT Capital Corp 3.557% 08/15/2027</name>
        <lei>2138005GYEXN7XRHFA84</lei>
        <title>BAT Capital Corp 3.557% 08/15/2027</title>
        <cusip>05526DBB0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="946359"/>
        </identifiers>
        <balance>20000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>21653389.80000000</valUSD>
        <pctVal>0.531348177512</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55700000</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>Endo Dac / Endo Finance LLC / Endo Finco Inc 9.5% 07/31/2027 144A</name>
        <lei>N/A</lei>
        <title>Endo Dac / Endo Finance LLC / Endo Finco Inc 9.5% 07/31/2027 144A</title>
        <cusip>29273DAB6</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="1083201"/>
        </identifiers>
        <balance>5273000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5603617.10000000</valUSD>
        <pctVal>0.137506033053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-07-31</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</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>UST</name>
        <lei>N/A</lei>
        <title>U S TREASURY NOTE</title>
        <cusip>912803AU7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="912803AU7"/>
        </identifiers>
        <balance>27.80000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>27.80000000</valUSD>
        <pctVal>0.000000682178</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="RCNB6OTYUAMMP879YW96" name="BNP PARIBAS SA"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.00065033</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>27.80000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>28.36000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UST</name>
        <lei>N/A</lei>
        <title>U S TREASURY NOTE</title>
        <cusip>912833LK4</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="912833LK4"/>
        </identifiers>
        <balance>274.69000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>274.69000000</valUSD>
        <pctVal>0.000006740562</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="RCNB6OTYUAMMP879YW96" name="BNP PARIBAS SA"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.00065033</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>274.69000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>280.18000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UST</name>
        <lei>N/A</lei>
        <title>U S TREASURY NOTE</title>
        <cusip>9128285P1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="9128285P1"/>
        </identifiers>
        <balance>14384.99000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>14384.99000000</valUSD>
        <pctVal>0.000352990376</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="RCNB6OTYUAMMP879YW96" name="BNP PARIBAS SA"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.00065033</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>14384.99000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>14672.69000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UST</name>
        <lei>N/A</lei>
        <title>U S TREASURY NOTE</title>
        <cusip>912828ZX1</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="912828ZX1"/>
        </identifiers>
        <balance>6915.39000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6915.39000000</valUSD>
        <pctVal>0.000169695364</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="RCNB6OTYUAMMP879YW96" name="BNP PARIBAS SA"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.00065033</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>6915.39000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>7053.70000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UST</name>
        <lei>N/A</lei>
        <title>U S TREASURY NOTE</title>
        <cusip>912828V80</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="912828V80"/>
        </identifiers>
        <balance>7421.41000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7421.41000000</valUSD>
        <pctVal>0.000182112487</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="RCNB6OTYUAMMP879YW96" name="BNP PARIBAS SA"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.00065033</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>7421.41000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>7569.84000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UST</name>
        <lei>N/A</lei>
        <title>U S TREASURY NOTE</title>
        <cusip>912810EH7</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="912810EH7"/>
        </identifiers>
        <balance>0.37000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>0.37000000</valUSD>
        <pctVal>0.000000009079</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="RCNB6OTYUAMMP879YW96" name="BNP PARIBAS SA"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.00065033</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>0.37000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>0.38000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UST</name>
        <lei>N/A</lei>
        <title>U S TREASURY NOTE</title>
        <cusip>912833LD0</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="912833LD0"/>
        </identifiers>
        <balance>0.00000100</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>0.00000100</valUSD>
        <pctVal>0.000000000000</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="RCNB6OTYUAMMP879YW96" name="BNP PARIBAS SA"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.00065033</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>0.00000100</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>0.00000100</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UST</name>
        <lei>N/A</lei>
        <title>U S TREASURY NOTE</title>
        <cusip>912803AY9</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="912803AY9"/>
        </identifiers>
        <balance>198.41000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>198.41000000</valUSD>
        <pctVal>0.000004868743</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="RCNB6OTYUAMMP879YW96" name="BNP PARIBAS SA"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.00065033</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>198.41000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>202.38000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UST</name>
        <lei>N/A</lei>
        <title>U S TREASURY NOTE</title>
        <cusip>9128285S5</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="9128285S5"/>
        </identifiers>
        <balance>453.93000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>453.93000000</valUSD>
        <pctVal>0.000011138896</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="RCNB6OTYUAMMP879YW96" name="BNP PARIBAS SA"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.00065033</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>453.93000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>463.01000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UST</name>
        <lei>N/A</lei>
        <title>U S TREASURY NOTE</title>
        <cusip>912833LE8</cusip>
        <identifiers>
          <other otherDesc="Internal Identifier" value="912833LE8"/>
        </identifiers>
        <balance>0.00000100</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>0.00000100</valUSD>
        <pctVal>0.000000000000</pctVal>
        <payoffProfile>Short</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="RCNB6OTYUAMMP879YW96" name="BNP PARIBAS SA"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>0.00065033</repurchaseRt>
          <maturityDt>2020-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>0.00000100</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>0.00000100</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <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>2020-07-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Robert Kubilis</ncom:nameOfApplicant>
      <ncom:signature>Robert Kubilis</ncom:signature>
      <ncom:signerName>Robert Kubilis</ncom:signerName>
      <ncom:title>Chief Financial Officer, Chief Accounting Officer and Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
