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      </invstOrSec>
      <invstOrSec>
        <name>CITIGROUP INC</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP INC</title>
        <cusip>172967424</cusip>
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          <isin value="US1729674242"/>
          <ticker value="C"/>
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        <balance>142629.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>9852811.32000000</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>TORONTO-DOMINION BANK/THE</name>
        <lei>N/A</lei>
        <title>TD SECURITIES INC (MEDTRONIC PLC) 21.39% 11/14/19 (MED US)</title>
        <cusip>000000000</cusip>
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          <isin value="XS2060621187"/>
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        <balance>17800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1921688.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <maturityDt>2019-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
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      <invstOrSec>
        <name>China Mobile Ltd</name>
        <lei>529900U2JJ7GK68NI589</lei>
        <title>China Mobile Ltd</title>
        <cusip>16941M109</cusip>
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          <isin value="US16941M1099"/>
          <ticker value="CHL"/>
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        <balance>140930.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5834502.00000000</valUSD>
        <pctVal>1.410059804015</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ASTRAZENECA PLC</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>ASTRAZENECA PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB0009895292"/>
          <ticker value="AZN"/>
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        <balance>66955.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CIBC WORLD MARKETS CORP (CONAGRA BRANDS INC) 0.00% 11/4/2019 (CAG US)</name>
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        <title>CIBC WORLD MARKETS CORP (CONAGRA BRANDS INC) 0.00% 11/4/2019 (CAG US)</title>
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          <isin value="XS2056389112"/>
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        <balance>26900.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>822175.29000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-06</maturityDt>
          <couponKind>Fixed</couponKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CVS HEALTH CORP</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP</title>
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          <isin value="US1266501006"/>
          <ticker value="CVS"/>
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        <balance>95274.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6008931.18000000</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>RBC CAPITAL MARKETS LLC. (PEPSICO INC) 0.00% 11/4/2019 (PEP US)</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
        <identifiers>
          <isin value="USC798198241"/>
          <other otherDesc="INTERNAL" value="BRTX0UZK8"/>
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        <balance>8700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1187789.46000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2019-11-06</maturityDt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>DuPont de Nemours Inc</name>
        <lei>5493004JF0SDFLM8GD76</lei>
        <title>DuPont de Nemours Inc</title>
        <cusip>26614N102</cusip>
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          <isin value="US26614N1028"/>
          <ticker value="DD"/>
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        <balance>29387.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2095586.97000000</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>Lowe's Cos Inc</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos Inc</title>
        <cusip>548661107</cusip>
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          <isin value="US5486611073"/>
          <ticker value="LOW"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2300253.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kraft Heinz Co/The</name>
        <lei>N/A</lei>
        <title>Kraft Heinz Co/The</title>
        <cusip>500754106</cusip>
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          <isin value="US5007541064"/>
          <ticker value="KHC"/>
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        <balance>69021.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>American International Group I</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group Inc</title>
        <cusip>026874784</cusip>
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          <ticker value="AIG"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Conagra Brands Inc</name>
        <lei>54930035UDEIH090K650</lei>
        <title>Conagra Brands Inc</title>
        <cusip>205887102</cusip>
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          <isin value="US2058871029"/>
          <ticker value="CAG"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INTERNATIONAL PAPER CO</name>
        <lei>824LMFJDH41EY779Q875</lei>
        <title>INTERNATIONAL PAPER CO</title>
        <cusip>460146103</cusip>
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          <isin value="US4601461035"/>
          <ticker value="IP"/>
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        <balance>46542.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1946386.44000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BOFA SECURITIES INC (BCE INC) 7.98% 11/6/2019 (BCE US)</name>
        <lei>N/A</lei>
        <title>BOFA SECURITIES INC (BCE INC) 7.98% 11/6/2019 (BCE US)</title>
        <cusip>000000000</cusip>
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        <curCd>USD</curCd>
        <valUSD>2784815.36000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2019-11-06</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>ROYAL BANK OF CANADA (TRAVELERS COS INC/THE) 14.44% 10/11/2019 (TRV US)</name>
        <lei>N/A</lei>
        <title>ROYAL BANK OF CANADA (TRAVELERS COS INC/THE) 14.44% 10/11/2019 (TRV US)</title>
        <cusip>000000000</cusip>
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          <isin value="USC798197250"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY</title>
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          <ticker value="MS"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>J.P. MORGAN SECURITIES LLC (SWISS RE AG) 6.91% 10/25/19 (SREN SW)</name>
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        <title>J.P. MORGAN SECURITIES LLC (SWISS RE AG) 6.91% 10/25/19 (SREN SW)</title>
        <cusip>000000000</cusip>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2019-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TD SECURITIES INC (METLIFE INC) 16.24% 10/03/19 (MET US)</name>
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        <title>TD SECURITIES INC (METLIFE INC) 16.24% 10/03/19 (MET US)</title>
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          <other otherDesc="INTERNAL" value="BRTW1B7V8"/>
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        <curCd>USD</curCd>
        <valUSD>3446841.61000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2019-10-03</maturityDt>
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        <name>UNILEVER NV</name>
        <lei>549300TK7G7NZTVM1Z30</lei>
        <title>UNILEVER N V -NY SHARES</title>
        <cusip>904784709</cusip>
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          <isin value="US9047847093"/>
          <ticker value="UN"/>
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        <curCd>USD</curCd>
        <valUSD>1725922.53000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>KONINKLIJKE PHILIPS NV</name>
        <lei>H1FJE8H61JGM1JSGM897</lei>
        <title>KONINKLIJKE PHILIPS NV</title>
        <cusip>000000000</cusip>
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          <isin value="NL0000009538"/>
          <ticker value="PHIA"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>RBC CAPITAL MARKETS LLC. (VERIZON COMMUNICATIONS INC) 0.00% 11/4/2019 (VZ US)</name>
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      <invstOrSec>
        <name>RBC CAPITAL MARKETS LLC. (ARTHUR J GALLAGHER &amp; CO) 0.00% 11/4/2019 (AJG US)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOFA SECURITIES INC (PACKAGING CORP OF AMERICA) 25.9% 10/11/2019 (PKG US)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SWISS RE AG</name>
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        <name>General Motors Co</name>
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        <name>Kellogg Co</name>
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        <fairValLevel>1</fairValLevel>
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        <name>UBER TECHNOLOGIES INC</name>
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        <name>Johnson Controls International</name>
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        <name>Quest Diagnostics Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Acerta Pharma BV, Series B</name>
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        <name>QUALCOMM INC</name>
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        <name>ALTRIA GROUP INC</name>
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        <name>Imperial Brands PLC</name>
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        <name>Edison International</name>
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        <name>VERIZON COMMUNICATIONS INC</name>
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        <name>BP PLC</name>
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        <name>BOFA SECURITIES INC (GENERAL MOTORS CO) 18.12% 10/11/2019 (GM US)</name>
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        <name>ConocoPhillips</name>
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        <name>BlackRock Liquidity Funds T-Fund</name>
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          <ticker value="TSTXX"/>
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        <fairValLevel>1</fairValLevel>
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        <name>BOFA SECURITIES INC (TOTAL SA) 19.95% 11/6/2019 (TOT US)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Nestle SA</name>
        <lei>KY37LUS27QQX7BB93L28</lei>
        <title>Nestle SA</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BMO CAPITAL MARKETS CORP</name>
        <lei>N/A</lei>
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          <isin value="US06368C4603"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BNP PARIBAS SECURITIES CORPORATION (3M CO) 18.21% 10/03/19 (MMM US)</name>
        <lei>N/A</lei>
        <title>BNP PARIBAS SECURITIES CORPORATION (3M CO) 18.21% 10/03/19 (MMM US)</title>
        <cusip>000000000</cusip>
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          <isin value="XS1996473184"/>
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        <balance>5600.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-10-03</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BNP PARIBAS SECURITIES CORPORATION (EDISON INTERNATIONAL) 17.91% 10/03/19 (EIX US)</name>
        <lei>N/A</lei>
        <title>BNP PARIBAS SECURITIES CORPORATION (EDISON INTERNATIONAL) 17.91% 10/03/19 (EIX US)</title>
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          <isin value="XS1996472376"/>
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        <balance>12800.00000000</balance>
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        <curCd>USD</curCd>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2019-10-03</maturityDt>
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      <invstOrSec>
        <name>SG AMERICAS SECURITIES LLC (INTERNATIONAL PAPER CO) 17.74% 10/03/19 (IP US)</name>
        <lei>N/A</lei>
        <title>SG AMERICAS SECURITIES LLC (INTERNATIONAL PAPER CO) 17.74% 10/03/19 (IP US)</title>
        <cusip>000000000</cusip>
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          <isin value="XS2008028610"/>
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        <balance>31500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1318979.10000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2019-10-03</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Anthem Inc</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>Anthem Inc</title>
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          <isin value="US0367521038"/>
          <ticker value="ANTM"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TOTAL SA</name>
        <lei>529900S21EQ1BO4ESM68</lei>
        <title>TOTAL SA-SPON ADR</title>
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          <isin value="US89151E1091"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Palantir Technologies, Inc., Series I</name>
        <lei>N/A</lei>
        <title>Palantir Technologies, Inc., Series I</title>
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          <other otherDesc="Internal" value="BRSM61540"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BNP PARIBAS SECURITIES CORPORATION (QUEST DIAGNOSTICS INC) 17.91% 10/03/19 (DGX US)</name>
        <lei>N/A</lei>
        <title>BNP PARIBAS SECURITIES CORPORATION (QUEST DIAGNOSTICS INC) 17.91% 10/03/19 (DGX US)</title>
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          <isin value="XS1996473002"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ENGIE SA</name>
        <lei>LAXUQCHT4FH58LRZDY46</lei>
        <title>ENGIE</title>
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          <isin value="FR0010208488"/>
          <ticker value="ENGI"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BOFA SECURITIES INC (FORD MOTOR CO) 27.57% 11/6/2019 (F US)</name>
        <lei>N/A</lei>
        <title>BOFA SECURITIES INC (FORD MOTOR CO) 27.57% 11/6/2019 (F US)</title>
        <cusip>000000000</cusip>
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          <isin value="CWN5649C4922"/>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BOFA SECURITIES INC (PFIZER INC) 9.63% 10/11/2019 (PFE US)</name>
        <lei>N/A</lei>
        <title>BOFA SECURITIES INC (PFIZER INC) 9.63% 10/11/2019 (PFE US)</title>
        <cusip>000000000</cusip>
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          <isin value="CWN5649C3692"/>
          <other otherDesc="INTERNAL" value="BRTWE8FM2"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>NetApp Inc</name>
        <lei>QTX3D84DZDD5JYOCYH15</lei>
        <title>NetApp Inc</title>
        <cusip>64110D104</cusip>
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          <ticker value="NTAP"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>BMO CAPITAL MARKETS CORP</name>
        <lei>N/A</lei>
        <title>BANK OF MONTREAL (KRAFT HEINZ CO/THE) 25.04% 10/25/19 (KHC US)</title>
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          <isin value="US06368C4520"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2019-10-25</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>PEPSICO INC</name>
        <lei>FJSUNZKFNQ5YPJ5OT455</lei>
        <title>PEPSICO INC</title>
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          <isin value="US7134481081"/>
          <ticker value="PEP"/>
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        <curCd>USD</curCd>
        <valUSD>1789429.20000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BNP PARIBAS ARBITRAGE (ASTRAZENECA PLC) 12.42% 10/25/19 (AZN LN)</name>
        <lei>N/A</lei>
        <title>BNP PARIBAS ARBITRAGE (ASTRAZENECA PLC) 12.42% 10/25/19 (AZN LN)</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FORD MOTOR CO</name>
        <lei>20S05OYHG0MQM4VUIC57</lei>
        <title>FORD MOTOR CO</title>
        <cusip>345370860</cusip>
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          <isin value="US3453708600"/>
          <ticker value="F"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TORONTO-DOMINION BANK/THE</name>
        <lei>N/A</lei>
        <title>TD SECURITIES INC (WILLIAMS COS INC/THE) 18.92% 11/14/19 (WMB US)</title>
        <cusip>000000000</cusip>
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          <isin value="XS2060622235"/>
          <other otherDesc="INTERNAL" value="BRTXADLN4"/>
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        <curCd>USD</curCd>
        <valUSD>2971634.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <maturityDt>2019-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
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      </invstOrSec>
      <invstOrSec>
        <name>TORONTO-DOMINION BANK/THE</name>
        <lei>N/A</lei>
        <title>TD SECURITIES INC (ONEOK INC) 22.12% 11/14/19 (OKE US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2060620536"/>
          <other otherDesc="INTERNAL" value="BRTXADKL9"/>
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        <balance>32900.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2419795.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>22.12000000</annualizedRt>
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      <invstOrSec>
        <name>CISCO SYSTEMS INC</name>
        <lei>8E6NF1YAL0WT6CWXXV93</lei>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>CREDIT SUISSE SECURITIES (USA) LLC (SIEMENS AG) 10.95% 10/25/19 (SIE GY)</name>
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        <assetCat>DBT</assetCat>
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        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Cognizant Technology Solutions</name>
        <lei>5493006IEVQEFQO40L83</lei>
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          <isin value="US1924461023"/>
          <ticker value="CTSH"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>PRUDENTIAL FINANCIAL INC</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
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          <isin value="US7443201022"/>
          <ticker value="PRU"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BNP PARIBAS ARBITRAGE (KONINKLIJKE PHILIPS NV) 12.03% 10/25/19 (PHIA NA)</name>
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          <isin value="XS2011542193"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>J.P. MORGAN SECURITIES LLC (STATE STREET CORP) 24.8% 10/17/19 (STT US)</name>
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          <isin value="NL0013403066"/>
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        <balance>16500.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2019-10-17</maturityDt>
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        <name>PROCTER &amp; GAMBLE CO/THE</name>
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          <isin value="US7427181091"/>
          <ticker value="PG"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>BAYER AG</name>
        <lei>549300J4U55H3WP1XT59</lei>
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          <isin value="DE000BAY0017"/>
          <ticker value="BAYN"/>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>CARDINAL HEALTH INC</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
        <title>CARDINAL HEALTH INC</title>
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          <isin value="US14149Y1082"/>
          <ticker value="CAH"/>
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        <balance>50547.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2385312.93000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>NXP Semiconductors NV</name>
        <lei>724500M9BY5293JDF951</lei>
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          <isin value="NL0009538784"/>
          <ticker value="NXPI"/>
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        <curCd>USD</curCd>
        <valUSD>3839059.84000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TD SECURITIES INC (QUALCOMM INC) 23.14% 10/17/19 (QCOM US)</name>
        <lei>N/A</lei>
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        <cusip>000000000</cusip>
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          <isin value="XS2051650534"/>
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        <balance>19900.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1529653.85000000</valUSD>
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        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>AXA Equitable Holdings Inc</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>AXA Equitable Holdings Inc</title>
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          <ticker value="EQH"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>REGIONS FINANCIAL CORP</name>
        <lei>CW05CS5KW59QTC0DG824</lei>
        <title>REGIONS FINANCIAL CORP</title>
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          <ticker value="RF"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>LOCKHEED MARTIN CORP</name>
        <lei>DPRBOZP0K5RM2YE8UU08</lei>
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          <ticker value="LMT"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>Siemens AG</name>
        <lei>W38RGI023J3WT1HWRP32</lei>
        <title>Siemens AG</title>
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        <invCountry>DE</invCountry>
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        <name>JPMORGAN CHASE &amp; CO</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
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        <name>Corteva Inc</name>
        <lei>549300WZN9I2QKLS0O94</lei>
        <title>Corteva Inc</title>
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          <ticker value="CTVA"/>
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        <name>Newell Brands Inc</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
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        <name>Philip Morris International In</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International Inc</title>
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          <ticker value="PM"/>
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        <name>METLIFE INC</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>METLIFE INC</title>
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          <ticker value="MET"/>
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        <lei>N/A</lei>
        <title>Baker Hughes a GE Co</title>
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        <name>MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG IN MUENCHEN</name>
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        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BMO CAPITAL MARKETS CORP (BAKER HUGHES A GE CO) 19.85% 10/17/19 (BHGE US)</name>
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        <title>BMO CAPITAL MARKETS CORP (BAKER HUGHES A GE CO) 19.85% 10/17/19 (BHGE US)</title>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>MEDTRONIC PLC</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>MEDTRONIC PLC</title>
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        <invCountry>IE</invCountry>

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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>SG AMERICAS SECURITIES LLC (REGIONS FINANCIAL CORP) 23.31% 10/11/2019 (RF US)</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ONEOK Inc</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK Inc</title>
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      <invstOrSec>
        <name>3M CO</name>
        <lei>LUZQVYP4VS22CLWDAR65</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Packaging Corp of America</name>
        <lei>549300XZP8MFZFY8TJ84</lei>
        <title>Packaging Corp of America</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Strategic Growth Bancorp</name>
        <lei>N/A</lei>
        <title>Strategic Growth Bancorp</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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      <invstOrSec>
        <name>BOFA SECURITIES INC (AMERICAN INTERNATIONAL GROUP INC) 17.37% 10/17/2019 (AIG US)</name>
        <lei>N/A</lei>
        <title>BOFA SECURITIES INC (AMERICAN INTERNATIONAL GROUP INC) 17.37% 10/17/2019 (AIG US)</title>
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          <isin value="CWN5649C4351"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BNP PARIBAS SECURITIES CORPORATION (FIRSTENERGY CORP) 18.02% 10/03/19 (FE US)</name>
        <lei>N/A</lei>
        <title>BNP PARIBAS SECURITIES CORPORATION (FIRSTENERGY CORP) 18.02% 10/03/19 (FE US)</title>
        <cusip>000000000</cusip>
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          <isin value="XS1996472459"/>
          <other otherDesc="INTERNAL" value="BRTW1B458"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2019-10-03</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>TORONTO-DOMINION BANK/THE</name>
        <lei>N/A</lei>
        <title>TD SECURITIES INC (PRUDENTIAL FINANCIAL INC) 20.72% 11/14/19 (PRU US)</title>
        <cusip>000000000</cusip>
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          <isin value="XS2060642001"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <maturityDt>2019-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WILLIAMS COS INC/THE</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>WILLIAMS COS INC</title>
        <cusip>969457100</cusip>
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          <isin value="US9694571004"/>
          <ticker value="WMB"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BNP PARIBAS ARBITRAGE (NESTLE SA) 7.73% 10/25/19 (NESN SW)</name>
        <lei>N/A</lei>
        <title>BNP PARIBAS ARBITRAGE (NESTLE SA) 7.73% 10/25/19 (NESN SW)</title>
        <cusip>000000000</cusip>
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          <isin value="XS2011542359"/>
          <other otherDesc="INTERNAL" value="BRTWUVKM7"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2019-10-25</maturityDt>
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      <invstOrSec>
        <name>MARATHON PETROLEUM CORP</name>
        <lei>3BNYRYQHD39K4LCKQF12</lei>
        <title>MARATHON PETROLEUM CORP</title>
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          <isin value="US56585A1025"/>
          <ticker value="MPC"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>J.P. MORGAN SECURITIES LLC (JOHNSON CONTROLS INTERNATIONAL PLC) 15.35% 10/17/2019 (JCI US)</name>
        <lei>N/A</lei>
        <title>J.P. MORGAN SECURITIES LLC (JOHNSON CONTROLS INTERNATIONAL PLC) 15.35% 10/17/2019 (JCI US)</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Dow Inc</name>
        <lei>5493003S21INSLK2IP73</lei>
        <title>Dow Inc</title>
        <cusip>260557103</cusip>
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          <isin value="US2605571031"/>
          <ticker value="DOW"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BNP PARIBAS ARBITRAGE (ENGIE SA )11.25% 10/25/19 (ENGI FP)</name>
        <lei>N/A</lei>
        <title>BNP PARIBAS ARBITRAGE (ENGIE SA )11.25% 10/25/19 (ENGI FP)</title>
        <cusip>000000000</cusip>
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          <isin value="XS2011541542"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BNP PARIBAS ARBITRAGE (MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG IN MUENCHEN) 6.36% 10/25/19 (MUV2 GY)</name>
        <lei>N/A</lei>
        <title>BNP PARIBAS ARBITRAGE (MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AG IN MUENCHEN) 6.36% 10/25/19 (MUV2 GY)</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>ROYAL BANK OF CANADA (PROCTER &amp; GAMBLE CO/THE) 12.17% 10/11/2019 (PG US)</name>
        <lei>N/A</lei>
        <title>ROYAL BANK OF CANADA (PROCTER &amp; GAMBLE CO/THE) 12.17% 10/11/2019 (PG US)</title>
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          <isin value="USC798197177"/>
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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>2019-10-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.17000000</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>TD SECURITIES INC (JPMORGAN CHASE &amp; CO) 14.03% 10/03/19 (JPM US)</name>
        <lei>N/A</lei>
        <title>TD SECURITIES INC (JPMORGAN CHASE &amp; CO) 14.03% 10/03/19 (JPM US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2047485862"/>
          <other otherDesc="INTERNAL" value="BRTW7VJT0"/>
        </identifiers>
        <balance>40300.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4458698.15000000</valUSD>
        <pctVal>1.077560868014</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-10-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>14.03000000</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>FIRSTENERGY CORP</name>
        <lei>549300SVYJS666PQJH88</lei>
        <title>FIRSTENERGY CORP</title>
        <cusip>337932107</cusip>
        <identifiers>
          <isin value="US3379321074"/>
          <ticker value="FE"/>
        </identifiers>
        <balance>249468.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12031841.64000000</valUSD>
        <pctVal>2.907808800964</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo Bank NA</name>
        <lei>KB1H1DSPRFMYMCUFXT09</lei>
        <title>WELLS FARGO SECURITIES LLC (TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD) 20.0% 10/03/19 (TSM US)</title>
        <cusip>95002A501</cusip>
        <identifiers>
          <isin value="US95002A5011"/>
        </identifiers>
        <balance>49200.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2162646.08000000</valUSD>
        <pctVal>0.522659913000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-10-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>20.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>N</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>TSMC</name>
              <title>Taiwan Semiconductor Manufacturing Co Ltd</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="874039100"/>
                <isin value="US8740391003"/>
                <ticker value="TSM"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="1.00000000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bristol-Myers Squibb Co</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co</title>
        <cusip>110122108</cusip>
        <identifiers>
          <isin value="US1101221083"/>
          <ticker value="BMY"/>
        </identifiers>
        <balance>89037.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4515066.27000000</valUSD>
        <pctVal>1.091183696533</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TORONTO-DOMINION BANK/THE</name>
        <lei>N/A</lei>
        <title>TD SECURITIES INC (UNILEVER NV) 20.86 % 11/14/19 (UN US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2060618803"/>
          <other otherDesc="INTERNAL" value="BRTXADLE4"/>
        </identifiers>
        <balance>9500.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>566295.00000000</valUSD>
        <pctVal>0.136859978232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>20.86000000</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>BCE INC</name>
        <lei>5493001I9203PRB5KR45</lei>
        <title>BCE INC</title>
        <cusip>05534B760</cusip>
        <identifiers>
          <isin value="CA05534B7604"/>
          <ticker value="BCE"/>
        </identifiers>
        <balance>86107.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4168439.87000000</valUSD>
        <pctVal>1.007412373179</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WELLS FARGO &amp; CO</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO</title>
        <cusip>949746101</cusip>
        <identifiers>
          <isin value="US9497461015"/>
          <ticker value="WFC"/>
        </identifiers>
        <balance>378253.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>19079081.32000000</valUSD>
        <pctVal>4.610958341753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BNP PARIBAS SECURITIES CORPORATION (CISCO SYSTEMS INC) 16.81% 10/03/19 (CSCO US)</name>
        <lei>N/A</lei>
        <title>BNP PARIBAS SECURITIES CORPORATION (CISCO SYSTEMS INC) 16.81% 10/03/19 (CSCO US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS1996472962"/>
          <other otherDesc="INTERNAL" value="BRTW1AYQ1"/>
        </identifiers>
        <balance>45700.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2258768.99000000</valUSD>
        <pctVal>0.545890524907</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-10-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>16.81000000</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>TORONTO-DOMINION BANK/THE</name>
        <lei>N/A</lei>
        <title>TD SECURITIES INC (DOW INC) 20.22% 11/14/19 (DOW US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2060624108"/>
          <other otherDesc="INTERNAL" value="BRTXAD676"/>
        </identifiers>
        <balance>22200.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1055388.00000000</valUSD>
        <pctVal>0.255062076667</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>20.22000000</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>Travelers Cos Inc/The</name>
        <lei>549300Y650407RU8B149</lei>
        <title>Travelers Cos Inc/The</title>
        <cusip>89417E109</cusip>
        <identifiers>
          <isin value="US89417E1091"/>
          <ticker value="TRV"/>
        </identifiers>
        <balance>16483.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2450857.27000000</valUSD>
        <pctVal>0.592313675067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RBC CAPITAL MARKETS LLC. (LOCKHEED MARTIN CORP) 0.00% 11/4/2019 (LMT US)</name>
        <lei>N/A</lei>
        <title>RBC CAPITAL MARKETS LLC. (LOCKHEED MARTIN CORP) 0.00% 11/4/2019 (LMT US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="USC798198167"/>
          <other otherDesc="INTERNAL" value="BRTX0UZB8"/>
        </identifiers>
        <balance>5600.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2191710.57000000</valUSD>
        <pctVal>0.529684106165</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>11.34000000</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>PFIZER INC</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>PFIZER INC</title>
        <cusip>717081103</cusip>
        <identifiers>
          <isin value="US7170811035"/>
          <ticker value="PFE"/>
        </identifiers>
        <balance>233129.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8376324.97000000</valUSD>
        <pctVal>2.024357716488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BAE Systems PLC</name>
        <lei>8SVCSVKSGDWMW2QHOH83</lei>
        <title>BAE Systems PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002634946"/>
          <ticker value="BA/"/>
        </identifiers>
        <balance>928491.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.81331000"/>
        <valUSD>6502457.73000000</valUSD>
        <pctVal>1.571488753004</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TORONTO-DOMINION BANK/THE</name>
        <lei>N/A</lei>
        <title>TD SECURITIES INC (MORGAN STANLEY) 22.02% 11/14/19 (MS US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2060617409"/>
          <other otherDesc="INTERNAL" value="BRTXADK88"/>
        </identifiers>
        <balance>23900.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1020530.00000000</valUSD>
        <pctVal>0.246637730485</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>22.02000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>

      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>

    </explntrNotes>
    <signature>
      <ncom:dateSigned>2019-11-22</ncom:dateSigned>
      <ncom:nameOfApplicant>BlackRock Funds</ncom:nameOfApplicant>
      <ncom:signature>Ann Frechette</ncom:signature>
      <ncom:signerName>Ann Frechette</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
