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        <name>Acerta Pharma BV, Series B</name>
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        <name>Credit Suisse Securities (USA) LLC</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
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        <name>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
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        <name>Coca-Cola Co/The</name>
        <lei>UWJKFUJFZ02DKWI3RY53</lei>
        <title>Coca-Cola Co/The</title>
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        <assetCat>EC</assetCat>
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        <name>TD Securities (USA) LLC</name>
        <lei>PT3QB789TSUIDF371261</lei>
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        <cusip>000000000</cusip>
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        <name>Danone SA</name>
        <lei>969500KMUQ2B6CBAF162</lei>
        <title>Danone SA</title>
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        <name>SG Americas Securities LLC</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
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        <name>Anthem Inc</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>Anthem Inc</title>
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        <name>Newell Brands Inc</name>
        <lei>549300LWGYFM1TVO1Z12</lei>
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        <lei>ANGGYXNX0JLX3X63JN86</lei>
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        <name>Credit Suisse Securities (USA) LLC</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
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        <name>WELLS FARGO &amp; CO</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO</title>
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        <name>TD Securities Inc</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD SECURITIES INC (JOHNSON &amp; JOHNSON) 16.66% 01/21/2021 (JNJ US)</title>
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        <invCountry>US</invCountry>
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        <name>SG Americas Securities LLC</name>
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      <invstOrSec>
        <name>BMO Capital Markets Corp.</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
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      <invstOrSec>
        <name>BOFA Securities Inc.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Siemens AG</name>
        <lei>W38RGI023J3WT1HWRP32</lei>
        <title>Siemens AG</title>
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          <isin value="DE0007236101"/>
          <ticker value="SIE"/>
          <other otherDesc="SEDOL" value="5727973"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>RBC Capital Markets LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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          <other otherDesc="INTERNAL" value="BRW9HAAM6"/>
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        <fairValLevel>2</fairValLevel>
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        <name>United Parcel Service Inc</name>
        <lei>D01LMJZU09ULLNCY6Z23</lei>
        <title>United Parcel Service Inc</title>
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          <ticker value="UPS"/>
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        <balance>5870.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>CVS HEALTH CORP</name>
        <lei>549300EJG376EN5NQE29</lei>
        <title>CVS HEALTH CORP</title>
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          <isin value="US1266501006"/>
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        <balance>75023.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5085809.17000000</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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        <name>J.P. Morgan Securities LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>J.P. MORGAN SECURITIES LLC (PUBLIC SERVICE ENTERPRISE GROUP INC) 19.90% 01/21/2021 (PEG US)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRWAMNB22"/>
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        <balance>28900.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1699474.57000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>19.90000000</annualizedRt>
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        <name>HSBC Securiteies (USA) Inc.</name>
        <lei>549300EBRHK8GSW3QD45</lei>
        <title>HSBC SECURITIES (USA) INC (SANOFI) 11.70% 01/25/2021 (SAN FP)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRWAV7S78"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>11.70000000</annualizedRt>
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        <name>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
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        <cusip>000000000</cusip>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-01-07</maturityDt>
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        <name>Open Text Corp</name>
        <lei>549300HP7ONDQODZJV16</lei>
        <title>Open Text Corp</title>
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          <isin value="CA6837151068"/>
          <ticker value="OTEX"/>
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        <curCd>USD</curCd>
        <valUSD>1468210.80000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Blackstone Group Inc/The</name>
        <lei>5299004LW4QWGZUB8Y96</lei>
        <title>Blackstone Group Inc/The</title>
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          <isin value="US09260D1072"/>
          <ticker value="BX"/>
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        <balance>19070.00000000</balance>
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        <valUSD>1135618.50000000</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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        <name>BMO Capital Markets Corp.</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>BMO CAPITAL MARKETS CORP. (CONSOLIDATED EDISON INC) 17.61% 01/28/2021 (ED US)</title>
        <cusip>000000000</cusip>
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        <valUSD>994591.00000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>CNA Financial Corp</name>
        <lei>549300YX2GSZD7YG1R84</lei>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <name>Cognizant Technology Solutions</name>
        <lei>5493006IEVQEFQO40L83</lei>
        <title>Cognizant Technology Solutions Corp</title>
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          <ticker value="CTSH"/>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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        <name>RBC Capital Markets LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RBC CAPITAL MARKETS LLC. (SIEMENS AG) 10.59% 12/11/2020 (SIE GY)</title>
        <cusip>000000000</cusip>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BMO Capital Markets Corp.</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>BMO CAPITAL MARKETS CORP. (PNC FINANCIAL SERVICES GROUP INC/THE) 20.88% 12/04/2020 (PNC US)</title>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Kraft Heinz Co/The</name>
        <lei>N/A</lei>
        <title>Kraft Heinz Co/The</title>
        <cusip>500754106</cusip>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>BNP PARIBAS SECURITIES CORP</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
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        <valUSD>1486980.86000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>PFIZER INC</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>PFIZER INC</title>
        <cusip>717081103</cusip>
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          <isin value="US7170811035"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Kinder Morgan Inc</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan Inc</title>
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          <isin value="US49456B1017"/>
          <ticker value="KMI"/>
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        <balance>159600.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Siemens Energy AG</name>
        <lei>5299005CHJZ14D4FDJ62</lei>
        <title>Siemens Energy AG</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Bayer AG</name>
        <lei>549300J4U55H3WP1XT59</lei>
        <title>Bayer AG</title>
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          <isin value="DE000BAY0017"/>
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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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      <invstOrSec>
        <name>NXP Semiconductors NV</name>
        <lei>724500M9BY5293JDF951</lei>
        <title>NXP Semiconductors NV</title>
        <cusip>000000000</cusip>
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          <isin value="NL0009538784"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Northern Trust Corp</name>
        <lei>549300GLF98S992BC502</lei>
        <title>Northern Trust Corp</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Stanley Black &amp; Decker Inc</name>
        <lei>549300DJ09SMTO561131</lei>
        <title>Stanley Black &amp; Decker Inc</title>
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          <ticker value="SWK"/>
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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>ALTRIA GROUP INC</name>
        <lei>XSGZFLO9YTNO9VCQV219</lei>
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          <ticker value="MO"/>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>RBC Capital Markets LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RBC CAPITAL MARKETS LLC. (NORTHERN TRUST CORP) 24.15% 01/15/2021 (NTRS US)</title>
        <cusip>000000000</cusip>
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        <balance>5400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>457455.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Swiss Re AG</name>
        <lei>529900PS9YW3YY29F326</lei>
        <title>Swiss Re AG</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Vodafone Group PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
        <title>Vodafone Group PLC</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>IBM</name>
        <lei>VGRQXHF3J8VDLUA7XE92</lei>
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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>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
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        <cusip>000000000</cusip>
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        <valUSD>811138.53000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HSBC Securiteies (USA) Inc.</name>
        <lei>549300EBRHK8GSW3QD45</lei>
        <title>HSBC SECURITIES (USA) INC (SAMSUNG ELECTRONICS CO LTD) 14.10% 01/25/2021 (SMSN LI)</title>
        <cusip>000000000</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-01-25</maturityDt>
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      <invstOrSec>
        <name>Truist Financial Corp</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>Truist Financial Corp</title>
        <cusip>89832Q109</cusip>
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          <isin value="US89832Q1094"/>
          <ticker value="TFC"/>
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        <balance>51798.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2404463.16000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>American International Group I</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group Inc</title>
        <cusip>026874784</cusip>
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          <isin value="US0268747849"/>
          <ticker value="AIG"/>
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        <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>Barclayhs Capital Inc.</name>
        <lei>AC28XWWI3WIBK2824319</lei>
        <title>BARCLAYS CAPITAL INC. (CME GROUP INC) 15.18% 12/04/2020 (CME US)</title>
        <cusip>000000000</cusip>
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        <balance>6900.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1204359.42000000</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>2020-12-04</maturityDt>
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        <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>33990.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1482643.80000000</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>Arthur J Gallagher &amp; Co</name>
        <lei>54930049QLLMPART6V29</lei>
        <title>Arthur J Gallagher &amp; Co</title>
        <cusip>363576109</cusip>
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          <isin value="US3635761097"/>
          <ticker value="AJG"/>
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        <balance>28663.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3307996.83000000</valUSD>
        <pctVal>1.008497100278</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>
      <invstOrSec>
        <name>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
        <title>BOFA SECURITIES INC. (CNA FINANCIAL CORP) 23.87% 01/07/2021 (CNA US)</title>
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        <name>AT&amp;T Inc</name>
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        <name>RBC Capital Markets LLC</name>
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        <name>SG Americas Securities LLC</name>
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        <name>Viatris Inc</name>
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        <name>PRUDENTIAL FINANCIAL INC</name>
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        <name>AstraZeneca PLC</name>
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        <name>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
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        <name>RBC Capital Markets LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
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        <name>Kimberly-Clark Corp</name>
        <lei>MP3J6QPYPGN75NVW2S34</lei>
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        <name>Palantir Technologies, Inc.</name>
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        <name>HSBC Securiteies (USA) Inc.</name>
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        <name>Unilever PLC</name>
        <lei>549300MKFYEKVRWML317</lei>
        <title>Unilever PLC</title>
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        <name>Corteva Inc</name>
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        <title>Corteva Inc</title>
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        <name>WILLIAMS COS INC/THE</name>
        <lei>D71FAKCBLFS2O0RBPG08</lei>
        <title>WILLIAMS COS INC</title>
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          <ticker value="WMB"/>
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        <name>BCE INC</name>
        <lei>5493001I9203PRB5KR45</lei>
        <title>BCE INC</title>
        <cusip>05534B760</cusip>
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        <balance>43442.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <name>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
        <title>BOFA SECURITIES INC. (NXP SEMICONDUCTORS NV) 21.13% 01/28/2021 (NXPI US)</title>
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        <invCountry>US</invCountry>
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        <name>ConocoPhillips</name>
        <lei>WPTL2Z3FIYTHSP5V2253</lei>
        <title>ConocoPhillips</title>
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        <name>RBC Capital Markets LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RBC CAPITAL MARKETS LLC. (FEDEX CORP) 22.26% 01/15/2021 (FDX US)</title>
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        <invCountry>US</invCountry>
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        <name>British American Tobacco PLC</name>
        <lei>213800FKA5MF17RJKT63</lei>
        <title>British American Tobacco PLC</title>
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          <ticker value="BATS"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Public Service Enterprise Grou</name>
        <lei>PUSS41EMO3E6XXNV3U28</lei>
        <title>Public Service Enterprise Group Inc</title>
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        <name>Credit Suisse Securities (USA) LLC</name>
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        <name>RBC Capital Markets LLC</name>
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        <name>J.P. Morgan Securities LLC</name>
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        <name>Barclayhs Capital Inc.</name>
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        <name>Raytheon Technologies Corp</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>Raytheon Technologies Corp</title>
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        <name>MORGAN STANLEY</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>MORGAN STANLEY</title>
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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>
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        <name>METLIFE INC</name>
        <lei>C4BXATY60WC6XEOZDX54</lei>
        <title>METLIFE INC</title>
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        <assetCat>EC</assetCat>
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        <name>CME Group Inc</name>
        <lei>LCZ7XYGSLJUHFXXNXD88</lei>
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        <assetCat>EC</assetCat>
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        <name>PPL Corp</name>
        <lei>9N3UAJSNOUXFKQLF3V18</lei>
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        <name>Johnson &amp; Johnson</name>
        <lei>549300G0CFPGEF6X2043</lei>
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        <name>HSBC Securiteies (USA) Inc.</name>
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        <name>Edison International</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>Edison International</title>
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        <assetCat>EC</assetCat>
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        <name>BMO Capital Markets Corp.</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
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        <name>Equitable Holdings Inc</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings Inc</title>
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        <name>Sanofi</name>
        <lei>549300E9PC51EN656011</lei>
        <title>Sanofi</title>
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        <name>US Bancorp</name>
        <lei>N1GZ7BBF3NP8GI976H15</lei>
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        <assetCat>EC</assetCat>
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        <name>General Motors Co</name>
        <lei>54930070NSV60J38I987</lei>
        <title>General Motors Co</title>
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          <ticker value="GM"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>SG Americas Securities LLC</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SG AMERICAS SECURITIES LLC (WILLIAMS COS INC/THE) 0% 12/22/2020 (WMB US)</title>
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        <balance>146800.00000000</balance>
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        <name>Barclayhs Capital Inc.</name>
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        <name>Bristol-Myers Squibb Co</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Cardinal Health Inc</name>
        <lei>CCU46N3GJMF4OK4N7U60</lei>
        <title>Cardinal Health Inc</title>
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        <units>NS</units>
        <curCd>USD</curCd>
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        <name>BP PLC</name>
        <lei>213800LH1BZH3DI6G760</lei>
        <title>BP PLC</title>
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        <fairValLevel>2</fairValLevel>
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        <name>J.P. Morgan Securities LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
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      <invstOrSec>
        <name>RBC Capital Markets LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RBC CAPITAL MARKETS LLC. (ASTRAZENECA PLC) 14.21% 12/11/2020 (AZN LN)</title>
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        <name>BMO Capital Markets Corp.</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>BMO CAPITAL MARKETS CORP. (METLIFE INC) 21.37% 12/04/2020 (MET US)</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-12-04</maturityDt>
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        <name>Consolidated Edison Inc</name>
        <lei>54930033SBW53OO8T749</lei>
        <title>Consolidated Edison Inc</title>
        <cusip>209115104</cusip>
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          <isin value="US2091151041"/>
          <ticker value="ED"/>
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        <balance>26707.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2036408.75000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>RBC Capital Markets LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RBC CAPITAL MARKETS LLC. (GENERAL MOTORS CO) 21.98% 01/15/2021 (GM US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRWADUSL6"/>
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        <balance>38100.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1487223.74000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-01-15</maturityDt>
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          <annualizedRt>21.98000000</annualizedRt>
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      <invstOrSec>
        <name>Fidelity National Financial In</name>
        <lei>549300CAZYIH39SYQ287</lei>
        <title>Fidelity National Financial Inc</title>
        <cusip>31620R303</cusip>
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          <isin value="US31620R3030"/>
          <ticker value="FNF"/>
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        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3317270.28000000</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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        <name>Credit Suisse Securities (USA) LLC</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>CREDIT SUISSE SECURITIES (USA) LLC (COGNIZANT TECHNOLOGY SOLUTIONS CORP) 22.95% 12/04/2020 (CTSH US)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRW98HRE1"/>
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        <balance>20800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1525053.47000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>Credit Suisse Securities (USA) LLC</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>CREDIT SUISSE SECURITIES (USA) LLC (CHINA MOBILE LTD) 13.20% 01/07/2021 (CHL US)</title>
        <cusip>000000000</cusip>
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        <balance>31200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>928827.99000000</valUSD>
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        <name>TD Securities Inc</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD SECURITIES INC (MEDTRONIC PLC) 20.78% 01/21/2021 (MDT US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRWAMNN86"/>
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        <balance>22300.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2538491.47000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <maturityDt>2021-01-21</maturityDt>
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        <name>BMO Capital Markets Corp.</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>BMO CAPITAL MARKETS CORP. (UNITEDHEALTH GROUP INC) 20.66% 12/04/2020 (UNH US)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRW98JLE3"/>
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        <balance>2200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>723943.82000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-12-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>20.66000000</annualizedRt>
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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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        <valUSD>7109363.52000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>RBC Capital Markets LLC</name>
        <lei>ES7IP3U3RHIGC71XBU11</lei>
        <title>RBC CAPITAL MARKETS LLC. (MORGAN STANLEY) 22.53% 12/18/2020 (MS US)</title>
        <cusip>000000000</cusip>
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        <balance>19000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1035106.31000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Citigroup Global Markets Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP GLOBAL MARKETS INC. (PRUDENTIAL FINANCIAL INC) 22.33% 01/11/2021 (PRU US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRWA4D1S8"/>
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        <balance>22300.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1538478.14000000</valUSD>
        <pctVal>0.469030299231</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
        <title>BOFA SECURITIES INC. (KIMBERLY-CLARK CORP) 14.48% 01/14/2021 (KMB US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRWAGGW21"/>
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        <balance>7800.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1058435.87000000</valUSD>
        <pctVal>0.322681538278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>14.48000000</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>Credit Suisse Securities (USA) LLC</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>CREDIT SUISSE SECURITIES (USA) LLC (KINDER MORGAN INC) 22.45% 01/11/2021 (KMI US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRWA4CZ20"/>
        </identifiers>
        <balance>74500.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>980716.14000000</valUSD>
        <pctVal>0.298987403620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-11</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>22.45000000</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>Citigroup Global Markets Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>CITIGROUP GLOBAL MARKETS INC. (KRAFT HEINZ CO/THE) 18.50% 12/24/2020 (KHC US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRW9YGVT6"/>
        </identifiers>
        <balance>46800.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1543203.10000000</valUSD>
        <pctVal>0.470470780798</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-12-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>18.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SG Americas Securities LLC</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
        <title>SG AMERICAS SECURITIES LLC (BLACKSTONE GROUP INC/THE) 0% 12/22/2020 (BX US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRW9YGVH2"/>
        </identifiers>
        <balance>8900.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>510695.25000000</valUSD>
        <pctVal>0.155693824758</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-12-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>21.22000000</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>BMO Capital Markets Corp.</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
        <title>BMO CAPITAL MARKETS CORP. (STANLEY BLACK &amp; DECKER INC) 20.40% 12/04/2020 (SWK US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRW98JL45"/>
        </identifiers>
        <balance>1900.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>339106.70000000</valUSD>
        <pctVal>0.103382240434</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-12-04</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>20.40000000</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 (USA) LLC</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD SECURITIES (USA) LLC (WELLS FARGO &amp; CO) 22.18% 01/14/2021 (WFC US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRWAGH0G3"/>
        </identifiers>
        <balance>53800.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1294774.49000000</valUSD>
        <pctVal>0.394733243646</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>22.18000000</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>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>2454.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3717540.63000000</valUSD>
        <pctVal>1.133353246145</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>VERIZON COMMUNICATIONS INC</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMUNICATIONS INC</title>
        <cusip>92343V104</cusip>
        <identifiers>
          <isin value="US92343V1044"/>
          <ticker value="VZ"/>
        </identifiers>
        <balance>205463.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12412019.83000000</valUSD>
        <pctVal>3.784007860475</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>HSBC Securiteies (USA) Inc.</name>
        <lei>549300EBRHK8GSW3QD45</lei>
        <title>HSBC SECURITIES (USA) INC (VODAFONE GROUP PLC) 24.99% 01/25/2021 (VOD LN)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRWAV7X72"/>
        </identifiers>
        <balance>725500.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75010313"/>
        <valUSD>1181267.05000000</valUSD>
        <pctVal>0.360128638508</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-25</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>J.P. Morgan Securities LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>J.P. MORGAN SECURITIES LLC (COCA-COLA CO/THE) 17.60% 01/21/2021 (KO US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRWAMN479"/>
        </identifiers>
        <balance>32000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1679420.72000000</valUSD>
        <pctVal>0.511998956863</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>17.60000000</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>FedEx Corp</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FedEx Corp</title>
        <cusip>31428X106</cusip>
        <identifiers>
          <isin value="US31428X1063"/>
          <ticker value="FDX"/>
        </identifiers>
        <balance>3984.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1141734.72000000</valUSD>
        <pctVal>0.348076559192</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>BOFA Securities Inc.</name>
        <lei>AHYI0DDQ2LCHPGHJC422</lei>
        <title>BOFA SECURITIES INC. (BAYER AG) 21.00% 01/25/2021 (BAYN GY)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRWAV7LV2"/>
        </identifiers>
        <balance>17300.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.83832837"/>
        <valUSD>982622.38000000</valUSD>
        <pctVal>0.299568552155</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>21.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UnitedHealth Group Inc</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UnitedHealth Group Inc</title>
        <cusip>91324P102</cusip>
        <identifiers>
          <isin value="US91324P1021"/>
          <ticker value="UNH"/>
        </identifiers>
        <balance>4870.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1637975.80000000</valUSD>
        <pctVal>0.499363793110</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>CISCO SYSTEMS INC</name>
        <lei>8E6NF1YAL0WT6CWXXV93</lei>
        <title>CISCO SYSTEMS INC</title>
        <cusip>17275R102</cusip>
        <identifiers>
          <isin value="US17275R1023"/>
          <ticker value="CSCO"/>
        </identifiers>
        <balance>90308.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3885050.16000000</valUSD>
        <pctVal>1.184421274307</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>PNC Financial Services Group I</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group Inc/The</title>
        <cusip>693475105</cusip>
        <identifiers>
          <isin value="US6934751057"/>
          <ticker value="PNC"/>
        </identifiers>
        <balance>24323.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3358276.61000000</valUSD>
        <pctVal>1.023825716035</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>TD Securities (USA) LLC</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>TD SECURITIES (USA) LLC (APPLIED MATERIALS INC) 20.72% 01/07/2021 (AMAT US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRWAGGNN5"/>
        </identifiers>
        <balance>7400.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>519978.93000000</valUSD>
        <pctVal>0.158524106902</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-07</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>20.72000000</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>2021-01-26</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>
