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        <name>TD Securities Inc.</name>
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        <name>Barclays Capitial Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BOFA Securities Inc.</name>
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      <invstOrSec>
        <name>TD Securities Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Fidelity National Financial In</name>
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        <assetCat>EC</assetCat>
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        <name>Kinder Morgan Inc</name>
        <lei>549300WR7IX8XE0TBO16</lei>
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      <invstOrSec>
        <name>RBC Capital Marketes LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Credit Suisse Securities (USA) LLC</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
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        <invCountry>GB</invCountry>

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        <fairValLevel>2</fairValLevel>
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        <name>UnitedHealth Group Inc</name>
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        <assetCat>EC</assetCat>
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        <name>J.P. Morgan Securities LLC</name>
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        <name>Siemens AG</name>
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        <title>Siemens AG</title>
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        <name>RBC Capital Marketes LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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        <name>RBC Capital Marketes LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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        <invCountry>CA</invCountry>

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        <name>Raytheon Technologies Corp</name>
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        <assetCat>EC</assetCat>
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        <name>SG Americas Securities LLC</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SG AMERICAS SECURITIES LLC (WILLIAMS COS INC/THE) 21.63% 10/22/2020 (WMB US)</title>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2020-10-22</maturityDt>
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        <name>Kimberly-Clark Corp</name>
        <lei>MP3J6QPYPGN75NVW2S34</lei>
        <title>Kimberly-Clark Corp</title>
        <cusip>494368103</cusip>
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          <ticker value="KMB"/>
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        <curCd>USD</curCd>
        <valUSD>2324120.32000000</valUSD>
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        <name>SG Americas Securities LLC</name>
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        <name>HSBC Securities (USA) Inc.</name>
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      <invstOrSec>
        <name>Barclays Capitial Inc.</name>
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        <name>Applied Materials Inc</name>
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        <name>PFIZER INC</name>
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        <name>Conagra Brands Inc</name>
        <lei>54930035UDEIH090K650</lei>
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        <invCountry>US</invCountry>
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        <name>Societe Generale</name>
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        <name>Credit Suisse Securities (USA) LLC</name>
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        <name>Cognizant Technology Solutions</name>
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        <name>J.P. Morgan Securities LLC</name>
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        <name>Credit Suisse Securities (USA) LLC</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
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        <name>Kraft Heinz Co/The</name>
        <lei>N/A</lei>
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        <assetCat>EC</assetCat>
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        <name>Barclays Capitial Inc.</name>
        <lei>AC28XWWI3WIBK2824319</lei>
        <title>BARCLAYS CAPITAL INC. (CONOCOPHILLIPS) 19.94% 10/08/2020 (COP US)</title>
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        <name>TD Securities Inc.</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD SECURITIES INC (KIMBERLY-CLARK CORP) 18.90% 09/25/2020 (KMB US)</title>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-09-25</maturityDt>
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        <name>Truist Financial Corp</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp</title>
        <cusip>89832Q109</cusip>
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        <valUSD>2079827.90000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RBC Capital Marketes LLC</name>
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      <invstOrSec>
        <name>BCE INC</name>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>CME Group Inc</name>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>China Mobile Ltd</name>
        <lei>529900U2JJ7GK68NI589</lei>
        <title>China Mobile Ltd</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>RBC Capital Marketes LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Swiss Re AG</name>
        <lei>529900PS9YW3YY29F326</lei>
        <title>Swiss Re AG</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CIBC World Markets Corp.</name>
        <lei>2IGI19DL77OX0HC3ZE78</lei>
        <title>CIBC WORLD MARKETS CORP. (EDISON INTERNATIONAL) 24.78% 10/15/2020 (EIX US)</title>
        <cusip>000000000</cusip>
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          <isin value="XS2223674339"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
        <title>BOFA SECURITIES INC. (CNA FINANCIAL CORP) 23.62% 09/25/2020 (CNA US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CWN5650A5182"/>
          <other otherDesc="INTERNAL" value="BRW76LW69"/>
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        <balance>36300.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>23.62000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Consolidated Edison Inc</name>
        <lei>54930033SBW53OO8T749</lei>
        <title>Consolidated Edison Inc</title>
        <cusip>209115104</cusip>
        <identifiers>
          <isin value="US2091151041"/>
          <ticker value="ED"/>
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        <balance>30190.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2153754.60000000</valUSD>
        <pctVal>0.674866147244</pctVal>
        <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>CISCO SYSTEMS INC</name>
        <lei>8E6NF1YAL0WT6CWXXV93</lei>
        <title>CISCO SYSTEMS INC</title>
        <cusip>17275R102</cusip>
        <identifiers>
          <isin value="US17275R1023"/>
          <ticker value="CSCO"/>
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        <balance>86148.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3637168.56000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Northern Trust Corp</name>
        <lei>549300GLF98S992BC502</lei>
        <title>Northern Trust Corp</title>
        <cusip>665859104</cusip>
        <identifiers>
          <isin value="US6658591044"/>
          <ticker value="NTRS"/>
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        <balance>13100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1072759.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BP PLC</name>
        <lei>213800LH1BZH3DI6G760</lei>
        <title>BP PLC</title>
        <cusip>000000000</cusip>
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          <ticker value="BP/"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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      <invstOrSec>
        <name>Credit Suisse Securities (USA) LLC</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Equitable Holdings Inc</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings Inc</title>
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          <ticker value="EQH"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co</title>
        <cusip>110122108</cusip>
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          <isin value="US1101221083"/>
          <ticker value="BMY"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>Sanofi</name>
        <lei>549300E9PC51EN656011</lei>
        <title>Sanofi</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000120578"/>
          <ticker value="SAN"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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      <invstOrSec>
        <name>RBC Capital Marketes LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RBC CAPITAL MARKETS LLC. (AMERICAN INTERNATIONAL GROUP INC) 20.38% 10/22/2020 (AIG US)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRW7VLTW8"/>
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        <curCd>USD</curCd>
        <valUSD>2143152.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
        <title>BOFA SECURITIES INC. (FEDEX CORP) 21.38% 09/08/2020 (FDX US)</title>
        <cusip>000000000</cusip>
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          <isin value="CWN5650A5265"/>
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        <curCd>USD</curCd>
        <valUSD>652831.03000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-09-08</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>J.P. Morgan Securities LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>J.P. MORGAN SECURITIES LLC (STANLEY BLACK &amp; DECKER INC) 24.99% 10/08/2020 (SWK US)</title>
        <cusip>000000000</cusip>
        <identifiers>
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        <name>BOFA Securities Inc.</name>
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        <name>WILLIAMS COS INC/THE</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
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        <name>J.P. Morgan Securities LLC</name>
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        <name>RBC Capital Marketes LLC</name>
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        <name>SG Americas Securities LLC</name>
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        <name>Medtronic PLC</name>
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        <name>American International Group I</name>
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        <name>BlackRock Liquidity Funds T-Fund</name>
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        <title>BlackRock Liquidity Funds T-Fund</title>
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        <name>J.P. Morgan Securities LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
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        <name>BMO Capital Markets</name>
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        <name>Barclays Capitial Inc.</name>
        <lei>AC28XWWI3WIBK2824319</lei>
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        <name>UNILEVER NV</name>
        <lei>549300TK7G7NZTVM1Z30</lei>
        <title>UNILEVER N V -NY SHARES</title>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <name>Barclays Capitial Inc.</name>
        <lei>AC28XWWI3WIBK2824319</lei>
        <title>BARCLAYS CAPITAL INC. (COGNIZANT TECHNOLOGY SOLUTIONS CORP) 20.74% 10/08/2020 (CTSH US)</title>
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        <issuerCat>CORP</issuerCat>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>FedEx Corp</name>
        <lei>549300E707U7WNPZN687</lei>
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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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        <name>TD Securities (USA) LLC</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD SECURITIES (USA) LLC (BRISTOL-MYERS SQUIBB CO) 19.28% 10/01/2020 (BMY US)</title>
        <cusip>000000000</cusip>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Coca-Cola Co/The</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>Coca-Cola Co/The</title>
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          <isin value="US1912161007"/>
          <ticker value="KO"/>
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        <balance>71860.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3559225.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Danone SA</name>
        <lei>969500KMUQ2B6CBAF162</lei>
        <title>Danone SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000120644"/>
          <ticker value="BN"/>
          <other otherDesc="SEDOL" value="B1Y9TB3"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
        <title>BOFA SECURITIES INC. (GENERAL MOTORS CO) 20.29% 09/08/2020 (GM US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CWN565021771"/>
          <other otherDesc="INTERNAL" value="BRW6YNGG2"/>
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        <balance>33800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>979113.84000000</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>2020-09-08</maturityDt>
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      <invstOrSec>
        <name>BNP Paribas Securities Corp</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP PARIBAS SECURITIES CORPORATION (UNITEDHEALTH GROUP INC) 19.55% 10/08/2020 (UNH US)</title>
        <cusip>000000000</cusip>
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          <isin value="XS1707263593"/>
          <other otherDesc="INTERNAL" value="BRW7JCLJ9"/>
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        <balance>1500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>469061.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-10-08</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>TD Securities Inc.</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD SECURITIES INC (MARATHON PETROLEUM CORP) 22.43% 09/25/2020 (MPC US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2212243617"/>
          <other otherDesc="INTERNAL" value="BRW742SK7"/>
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        <balance>21500.00000000</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>2020-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>22.43000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Edison International</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>Edison International</title>
        <cusip>281020107</cusip>
        <identifiers>
          <isin value="US2810201077"/>
          <ticker value="EIX"/>
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        <balance>64286.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3373729.28000000</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>J.P. Morgan Securities LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>J.P. MORGAN SECURITIES LLC (RAYTHEON TECHNOLOGIES CORP) 21.63% 10/01/2020 (RTX US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2170472422"/>
          <other otherDesc="INTERNAL" value="BRW7NCA72"/>
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        <balance>14600.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>896525.97000000</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>2020-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>21.63000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Corteva Inc</name>
        <lei>549300WZN9I2QKLS0O94</lei>
        <title>Corteva Inc</title>
        <cusip>22052L104</cusip>
        <identifiers>
          <isin value="US22052L1044"/>
          <ticker value="CTVA"/>
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        <balance>140268.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4004651.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
        <title>BOFA SECURITIES INC. (APPLIED MATERIALS INC) 22.84% 09/25/2020 (AMAT US)</title>
        <cusip>000000000</cusip>
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          <isin value="CWN5650A4920"/>
          <other otherDesc="INTERNAL" value="BRW76LSL1"/>
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        <balance>7800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>477895.95000000</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>2020-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>22.84000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>TD Securities Inc.</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD SECURITIES INC (PFIZER INC) 16.64% 10/15/2020 (PFE US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2223658720"/>
          <other otherDesc="INTERNAL" value="BRW7QJNG0"/>
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        <balance>73300.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2764279.68000000</valUSD>
        <pctVal>0.866170536581</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>16.64000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SG Americas Securities LLC</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SG AMERICAS SECURITIES LLC (NXP SEMICONDUCTORS NV) 20.39% 10/01/2020 (NXPI US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2174519657"/>
          <other otherDesc="INTERNAL" value="BRW7CP2L3"/>
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        <balance>3900.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>482640.81000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>20.39000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Apollo Global Management Inc</name>
        <lei>54930054P2G7ZJB0KM79</lei>
        <title>Apollo Global Management Inc</title>
        <cusip>03768E105</cusip>
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          <isin value="US03768E1055"/>
          <ticker value="APO"/>
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        <balance>37790.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1771217.30000000</valUSD>
        <pctVal>0.555000367814</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>RBC Capital Marketes LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RBC CAPITAL MARKETS LLC. (BLACKSTONE GROUP INC/THE) 21.07% 10/22/2020 (BX US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRW7VLU89"/>
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        <balance>9100.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>484029.00000000</valUSD>
        <pctVal>0.151667597777</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <maturityDt>2020-10-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>21.07000000</annualizedRt>
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        <name>Anthem Inc</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>Anthem Inc</title>
        <cusip>036752103</cusip>
        <identifiers>
          <isin value="US0367521038"/>
          <ticker value="ANTM"/>
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        <balance>14556.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4097805.12000000</valUSD>
        <pctVal>1.284022772832</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>TD Securities (USA) LLC</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD SECURITIES (USA) LLC (METLIFE INC) 23.05% 10/08/2020 (MET US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2219252207"/>
          <other otherDesc="INTERNAL" value="BRW7JCHC9"/>
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        <balance>32800.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1276238.14000000</valUSD>
        <pctVal>0.399901602767</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>23.05000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PNC Financial Services Group I</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group Inc/The</title>
        <cusip>693475105</cusip>
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          <isin value="US6934751057"/>
          <ticker value="PNC"/>
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        <balance>14410.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1602392.00000000</valUSD>
        <pctVal>0.502099967849</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>Societe Generale</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>General Motors Co</name>
        <lei>54930070NSV60J38I987</lei>
        <title>General Motors Co</title>
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          <isin value="US37045V1008"/>
          <ticker value="GM"/>
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        <balance>202793.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>6008756.59000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
        <title>BOFA SECURITIES INC. (MEDTRONIC PLC) 24.54% 09/11/2020 (MDT US)</title>
        <cusip>000000000</cusip>
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          <isin value="CWN5650A5422"/>
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        <balance>19200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1904496.54000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>J.P. Morgan Securities LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>J.P. MORGAN SECURITIES LLC (BAE SYSTEMS PLC) 11.60% 10/12/2020 (BA/ LN)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2170467695"/>
          <other otherDesc="INTERNAL" value="BRW7KD165"/>
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        <balance>365800.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-10-12</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Credit Suisse Securities (USA) LLC</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>CREDIT SUISSE SECURITIES (USA) LLC (FIDELITY NATIONAL FINANCIAL INC) 18.80% 09/11/2020 (FNF US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS1973486159"/>
          <other otherDesc="INTERNAL" value="BRW6T5C48"/>
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        <balance>45300.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1484165.86000000</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>2020-09-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>18.80000000</annualizedRt>
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      <invstOrSec>
        <name>CVS HEALTH CORP</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP</title>
        <cusip>126650100</cusip>
        <identifiers>
          <isin value="US1266501006"/>
          <ticker value="CVS"/>
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        <balance>90023.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5592228.76000000</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>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
        <title>BOFA SECURITIES INC. (UNILEVER NV) 18.37% 09/25/2020 (UN US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CWN5650A5679"/>
          <other otherDesc="INTERNAL" value="BRW76M591"/>
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        <balance>15300.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>882138.42000000</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>2020-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>18.37000000</annualizedRt>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PRUDENTIAL FINANCIAL INC</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
        <title>PRUDENTIAL FINANCIAL INC</title>
        <cusip>744320102</cusip>
        <identifiers>
          <isin value="US7443201022"/>
          <ticker value="PRU"/>
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        <balance>41512.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2813268.24000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AstraZeneca PLC</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>AstraZeneca PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0009895292"/>
          <ticker value="AZN"/>
          <other otherDesc="SEDOL" value="0989529"/>
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        <balance>17164.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74808000"/>
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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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      <invstOrSec>
        <name>Bayer AG</name>
        <lei>549300J4U55H3WP1XT59</lei>
        <title>Bayer AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="DE000BAY0017"/>
          <ticker value="BAYN"/>
          <other otherDesc="SEDOL" value="5069211"/>
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        <balance>102891.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.83798000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>RBC Capital Marketes LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RBC CAPITAL MARKETS LLC. (CISCO SYSTEMS INC) 17.79% 10/15/2020 (CSCO US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="USC798222736"/>
          <other otherDesc="INTERNAL" value="BRW7QJK32"/>
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        <balance>37100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1556528.54000000</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>2020-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>WELLS FARGO &amp; CO</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO</title>
        <cusip>949746101</cusip>
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          <isin value="US9497461015"/>
          <ticker value="WFC"/>
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        <balance>325012.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7849039.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Arthur J Gallagher &amp; Co</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>Arthur J Gallagher &amp; Co</title>
        <cusip>363576109</cusip>
        <identifiers>
          <isin value="US3635761097"/>
          <ticker value="AJG"/>
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        <balance>32495.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3421723.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <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>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Open Text Corp</name>
        <lei>549300HP7ONDQODZJV16</lei>
        <title>Open Text Corp</title>
        <cusip>683715106</cusip>
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          <isin value="CA6837151068"/>
          <ticker value="OTEX"/>
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        <balance>27000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1225260.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>ALTRIA GROUP INC</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
        <title>ALTRIA GROUP INC</title>
        <cusip>02209S103</cusip>
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          <isin value="US02209S1033"/>
          <ticker value="MO"/>
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        <balance>116970.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5116267.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>NXP Semiconductors NV</name>
        <lei>724500M9BY5293JDF951</lei>
        <title>NXP Semiconductors NV</title>
        <cusip>000000000</cusip>
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          <other otherDesc="SEDOL" value="B505PN7"/>
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        <curCd>USD</curCd>
        <valUSD>1158249.60000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TD Securities Inc.</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD SECURITIES INC (WELLS FARGO &amp; CO) 21.83% 09/25/2020 (WFC US)</title>
        <cusip>000000000</cusip>
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          <isin value="XS2212327717"/>
          <other otherDesc="INTERNAL" value="BRW742T18"/>
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        <balance>46800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1144039.61000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-09-25</maturityDt>
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      <invstOrSec>
        <name>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
        <title>Johnson &amp; Johnson</title>
        <cusip>478160104</cusip>
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          <isin value="US4781601046"/>
          <ticker value="JNJ"/>
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        <balance>15665.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2403167.65000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Palantir Technologies, Inc., Series I</name>
        <lei>N/A</lei>
        <title>Palantir Technologies, Inc., Series I</title>
        <cusip>000000000</cusip>
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          <other otherDesc="Internal" value="BRSM61540"/>
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        <balance>701470.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3752864.50000000</valUSD>
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        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
        <title>BOFA SECURITIES INC. (BCE INC) 18.54% 09/11/2020 (BCE US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CWN5650A5000"/>
          <other otherDesc="INTERNAL" value="BRW76LUX2"/>
        </identifiers>
        <balance>32700.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1389524.93000000</valUSD>
        <pctVal>0.435399342157</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-09-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>18.54000000</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.</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD SECURITIES INC (MORGAN STANLEY) 22.82% 10/15/2020 (MS US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2223658308"/>
          <other otherDesc="INTERNAL" value="BRW7QJKS7"/>
        </identifiers>
        <balance>19400.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1002582.14000000</valUSD>
        <pctVal>0.314153128735</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>22.82000000</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>British American Tobacco PLC</name>
        <lei>213800FKA5MF17RJKT63</lei>
        <title>British American Tobacco PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0002875804"/>
          <ticker value="BATS"/>
          <other otherDesc="SEDOL" value="0287580"/>
        </identifiers>
        <balance>80130.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.74808000"/>
        <valUSD>2700795.75000000</valUSD>
        <pctVal>0.846278226078</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>Samsung Electronics Co Ltd</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>Samsung Electronics Co Ltd</title>
        <cusip>796050888</cusip>
        <identifiers>
          <isin value="US7960508882"/>
          <ticker value="SMSN"/>
          <other otherDesc="SEDOL" value="4942818"/>
        </identifiers>
        <balance>4487.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5396782.79000000</valUSD>
        <pctVal>1.691049671583</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY</title>
        <cusip>617446448</cusip>
        <identifiers>
          <isin value="US6174464486"/>
          <ticker value="MS"/>
        </identifiers>
        <balance>45265.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2365548.90000000</valUSD>
        <pctVal>0.741230626860</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>Blackstone Group Inc/The</name>
        <lei>5299004LW4QWGZUB8Y96</lei>
        <title>Blackstone Group Inc/The</title>
        <cusip>09260D107</cusip>
        <identifiers>
          <isin value="US09260D1072"/>
          <ticker value="BX"/>
        </identifiers>
        <balance>21340.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1129953.00000000</valUSD>
        <pctVal>0.354064027385</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>J.P. Morgan Securities LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>J.P. MORGAN SECURITIES LLC (AT&amp;T INC) 9.57% 10/01/2020 (T US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2170467422"/>
          <other otherDesc="INTERNAL" value="BRW7NCC47"/>
        </identifiers>
        <balance>16100.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>480423.28000000</valUSD>
        <pctVal>0.150537766939</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.57000000</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>RBC Capital Marketes LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RBC CAPITAL MARKETS LLC. (APOLLO GLOBAL MANAGEMENT INC) 20.89% 10/22/2020 (APO US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRW7VLU48"/>
        </identifiers>
        <balance>31100.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1448638.00000000</valUSD>
        <pctVal>0.453922069771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>20.89000000</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>Stanley Black &amp; Decker Inc</name>
        <lei>549300DJ09SMTO561131</lei>
        <title>Stanley Black &amp; Decker Inc</title>
        <cusip>854502101</cusip>
        <identifiers>
          <isin value="US8545021011"/>
          <ticker value="SWK"/>
        </identifiers>
        <balance>4790.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>772627.00000000</valUSD>
        <pctVal>0.242098058314</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 Marketes LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RBC CAPITAL MARKETS LLC. (COMERICA INC) 24.99% 10/15/2020 (CMA US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="USC798222652"/>
          <other otherDesc="INTERNAL" value="BRW7QJJQ3"/>
        </identifiers>
        <balance>21700.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>852650.97000000</valUSD>
        <pctVal>0.267173091617</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>24.99000000</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>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
        <title>BOFA SECURITIES INC. (COCA-COLA CO/THE) 16.74% 09/11/2020 (KO US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CWN5650A5349"/>
          <other otherDesc="INTERNAL" value="BRW76M3B8"/>
        </identifiers>
        <balance>24100.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1174519.42000000</valUSD>
        <pctVal>0.368028649057</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-09-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>16.74000000</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>METLIFE INC</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>METLIFE INC</title>
        <cusip>59156R108</cusip>
        <identifiers>
          <isin value="US59156R1086"/>
          <ticker value="MET"/>
        </identifiers>
        <balance>73954.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2844270.84000000</valUSD>
        <pctVal>0.891235289066</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>Societe Generale</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SOCIETE GENERALE PARIS (SIEMENS AG) 16.06% 10/12/2020 (SIE GY)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="XS2176105596"/>
          <other otherDesc="INTERNAL" value="BRW7KDHU5"/>
        </identifiers>
        <balance>13900.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.83798000"/>
        <valUSD>1923215.24000000</valUSD>
        <pctVal>0.602628014974</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>16.06000000</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>Comerica Inc</name>
        <lei>I9Q57JVPWHHZ3ZGBW498</lei>
        <title>Comerica Inc</title>
        <cusip>200340107</cusip>
        <identifiers>
          <isin value="US2003401070"/>
          <ticker value="CMA"/>
        </identifiers>
        <balance>50510.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1996660.30000000</valUSD>
        <pctVal>0.625641586101</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>Public Service Enterprise Grou</name>
        <lei>PUSS41EMO3E6XXNV3U28</lei>
        <title>Public Service Enterprise Group Inc</title>
        <cusip>744573106</cusip>
        <identifiers>
          <isin value="US7445731067"/>
          <ticker value="PEG"/>
        </identifiers>
        <balance>71280.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3723667.20000000</valUSD>
        <pctVal>1.166788888986</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>CNA Financial Corp</name>
        <lei>549300YX2GSZD7YG1R84</lei>
        <title>CNA Financial Corp</title>
        <cusip>126117100</cusip>
        <identifiers>
          <isin value="US1261171003"/>
          <ticker value="CNA"/>
        </identifiers>
        <balance>43408.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1396435.36000000</valUSD>
        <pctVal>0.437564684146</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>
    </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>2020-10-23</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>
  <documents>XXXX</documents>
</edgarSubmission>
