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      <invstOrSec>
        <name>BMO CAPITAL MARKETS CORP.</name>
        <lei>RUC0QBLBRPRCU4W1NE59</lei>
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        <name>BNP PARIBAS SECURITIES CORP.</name>
        <lei>RCNB6OTYUAMMP879YW96</lei>
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        <name>CITIGROUP GLOBAL MARKETS INC.</name>
        <lei>MBNUM2BPBDO7JBLYG310</lei>
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          <other otherDesc="INTERNAL" value="BRYGM3VP8"/>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
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        <name>Zimmer Biomet Holdings Inc</name>
        <lei>2P2YLDVPES3BXQ1FRB91</lei>
        <title>Zimmer Biomet Holdings Inc</title>
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        <fairValLevel>1</fairValLevel>
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        <name>Comcast Corp</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp</title>
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          <isin value="US20030N1019"/>
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        <fairValLevel>1</fairValLevel>
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        <name>Meta Platforms Inc</name>
        <lei>BQ4BKCS1HXDV9HN80Z93</lei>
        <title>Meta Platforms Inc</title>
        <cusip>30303M102</cusip>
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          <isin value="US30303M1027"/>
          <ticker value="META"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Molson Coors Beverage Co</name>
        <lei>54930073LBBH6ZCBE225</lei>
        <title>Molson Coors Beverage Co</title>
        <cusip>60871R209</cusip>
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          <isin value="US60871R2094"/>
          <ticker value="TAP"/>
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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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        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>NOMURA SECURITIES INTERNATIONAL INC (CONOCOPHILLIPS) 17.51 06/14/2023 (COP US)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRYG6Y6P6"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>RBC CAPITAL MARKETS, LLC</name>
        <lei>549300LCO2FLSSVFFR64</lei>
        <title>RBC CAPITAL MARKETS, LLC. (HP INC) 22.84 07/03/2023 (HPQ US)</title>
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        <name>Sanofi</name>
        <lei>549300E9PC51EN656011</lei>
        <title>Sanofi</title>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <name>BMO CAPITAL MARKETS CORP.</name>
        <lei>RUC0QBLBRPRCU4W1NE59</lei>
        <title>BMO CAPITAL MARKETS CORP. (VISA INC) 9.641 07/17/2023 (V US)</title>
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        <name>BAE Systems PLC</name>
        <lei>8SVCSVKSGDWMW2QHOH83</lei>
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        <name>Nokia Oyj</name>
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        <title>Nokia Oyj</title>
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        <invCountry>FI</invCountry>
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        <name>BNP PARIBAS ARBITRAGE</name>
        <lei>6EWKU0FGVX5QQJHFGT48</lei>
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        <name>British American Tobacco PLC</name>
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        <title>British American Tobacco PLC</title>
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        <name>BMO CAPITAL MARKETS CORP.</name>
        <lei>RUC0QBLBRPRCU4W1NE59</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CITIGROUP GLOBAL MARKETS INC.</name>
        <lei>MBNUM2BPBDO7JBLYG310</lei>
        <title>CITIGROUP GLOBAL MARKETS INC. (SEALED AIR CORP) 17.40 06/29/2023 (SEE US)</title>
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        <name>Leidos Holdings Inc</name>
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        <name>Baxter International Inc</name>
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        <name>Public Service Enterprise Grou</name>
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        <fairValLevel>1</fairValLevel>
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        <name>EQT Corp</name>
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        <name>Cardinal Health Inc</name>
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        <name>Laboratory Corp of America Hol</name>
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        <fairValLevel>1</fairValLevel>
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        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
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        <name>RBC CAPITAL MARKETS, LLC</name>
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        <name>BMO CAPITAL MARKETS CORP.</name>
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        <name>RBC CAPITAL MARKETS, LLC</name>
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        <name>Cigna Group/The</name>
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        <name>Fidelity National Information</name>
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        <name>BARCLAYS CAPITAL INC.</name>
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        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
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        <name>General Motors Co</name>
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        <name>MONEY MARKET SERIES LLC</name>
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        <name>Kosmos Energy Ltd</name>
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        <name>Edison International</name>
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        <title>ConocoPhillips</title>
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        <name>BMO CAPITAL MARKETS CORP.</name>
        <lei>RUC0QBLBRPRCU4W1NE59</lei>
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      <invstOrSec>
        <name>Humana Inc</name>
        <lei>529900YLDW34GJAO4J06</lei>
        <title>Humana Inc</title>
        <cusip>444859102</cusip>
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          <isin value="US4448591028"/>
          <ticker value="HUM"/>
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        <balance>3038.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1524681.06000000</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>Willis Towers Watson PLC</name>
        <lei>549300WHC56FF48KL350</lei>
        <title>Willis Towers Watson PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BDB6Q211"/>
          <ticker value="WTW"/>
          <other otherDesc="SEDOL" value="BDB6Q21"/>
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        <balance>68017.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14885520.45000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>RBC CAPITAL MARKETS, LLC</name>
        <lei>549300LCO2FLSSVFFR64</lei>
        <title>RBC CAPITAL MARKETS, LLC. (BP PLC) 19.32 07/20/2023 (BP/ LN)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRYHQE8Z2"/>
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        <balance>3234100.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-20</maturityDt>
          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Intel Corp</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp</title>
        <cusip>458140100</cusip>
        <identifiers>
          <isin value="US4581401001"/>
          <ticker value="INTC"/>
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        <balance>314020.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9872788.80000000</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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>J.P. MORGAN SECURITIES LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>J.P. MORGAN SECURITIES LLC (FIDELITY NATIONAL FINANCIAL INC) 26.89 06/26/2023 (FNF US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRYGQZ614"/>
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        <balance>352900.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>12059211.61000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>26.89000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Dollar General Corp</name>
        <lei>OPX52SQVOZI8IVSWYU66</lei>
        <title>Dollar General Corp</title>
        <cusip>256677105</cusip>
        <identifiers>
          <isin value="US2566771059"/>
          <ticker value="DG"/>
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        <balance>88993.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>17895602.37000000</valUSD>
        <pctVal>0.912937291101</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>BNP PARIBAS SECURITIES CORP.</name>
        <lei>RCNB6OTYUAMMP879YW96</lei>
        <title>BNP PARIBAS SECURITIES CORPORATION (PPG INDUSTRIES INC) 21.68 06/26/2023 (PPG US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRYGQZ7N5"/>
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        <balance>53800.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7111759.31000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>21.68000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>VERIZON COMMUNICATIONS INC</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>VERIZON COMMUNICATIONS INC</title>
        <cusip>92343V104</cusip>
        <identifiers>
          <isin value="US92343V1044"/>
          <ticker value="VZ"/>
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        <balance>680952.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24262319.76000000</valUSD>
        <pctVal>1.237732936817</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Visa Inc</name>
        <lei>549300JZ4OKEHW3DPJ59</lei>
        <title>Visa Inc</title>
        <cusip>92826C839</cusip>
        <identifiers>
          <isin value="US92826C8394"/>
          <ticker value="V"/>
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        <balance>41180.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9102015.40000000</valUSD>
        <pctVal>0.464335824580</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Bayer 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>346168.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93554121"/>
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        <pctVal>0.985590092289</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>J.P. MORGAN SECURITIES LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>J.P. MORGAN SECURITIES LLC (AMERICAN INTERNATIONAL GROUP INC) 14.84 06/26/2023 (AIG US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRYGQZ4C2"/>
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        <balance>263200.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>13859805.36000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>14.84000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Shell PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>Shell PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BP6MXD84"/>
          <ticker value="SHEL"/>
          <other otherDesc="SEDOL" value="BP6MXD8"/>
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        <balance>957082.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.80389083"/>
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        <pctVal>1.342349966746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <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>98709.00000000</balance>
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        <currencyConditional curCd="GBP" exchangeRt="0.80389083"/>
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        <pctVal>0.733438539055</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SG AMERICAS SECURITIES, LLC</name>
        <lei>549300F35UE0BOM1WJ55</lei>
        <title>SG AMERICAS SECURITIES LLC (GENERAL MOTORS CO) 25.41 06/12/2023 (GM US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRYGE8LV4"/>
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        <balance>230300.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7502203.42000000</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>2023-06-12</maturityDt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>American Electric Power Co Inc</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>American Electric Power Co Inc</title>
        <cusip>025537101</cusip>
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          <isin value="US0255371017"/>
          <ticker value="AEP"/>
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        <balance>133692.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>11112479.04000000</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>Lear Corp</name>
        <lei>549300UPNBTXA1SYTQ33</lei>
        <title>Lear Corp</title>
        <cusip>521865204</cusip>
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          <isin value="US5218652049"/>
          <ticker value="LEA"/>
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        <balance>150049.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18405010.34000000</valUSD>
        <pctVal>0.938924543309</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>BNP PARIBAS SECURITIES CORP.</name>
        <lei>RCNB6OTYUAMMP879YW96</lei>
        <title>BNP PARIBAS SECURITIES CORPORATION (KOSMOS ENERGY LTD) 32.44 06/26/2023 (KOS US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRYGQZ788"/>
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        <balance>551700.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3328346.15000000</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>2023-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>32.44000000</annualizedRt>
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      <invstOrSec>
        <name>GOLDMAN SACHS &amp; CO. LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>GOLDMAN SACHS &amp; CO. LLC (LABORATORY CORP OF AMERICA HOLDINGS) 12.90 07/03/2023 (LH US)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRYHFRBX6"/>
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        <balance>66600.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14286221.73000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>12.90000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
        <lei>OXTKY6Q8X53C9ILVV871</lei>
        <title>NOMURA SECURITIES INTERNATIONAL INC (NOKIA OYJ) 17.2919 06/02/2023 (NOK US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRYG3Q3B0"/>
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        <balance>865000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3467672.50000000</valUSD>
        <pctVal>0.176901982572</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-02</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>17.29190000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>Cognizant Technology Solutions</name>
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        <name>Vodafone Group PLC</name>
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        <name>Koninklijke Philips NV</name>
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        <name>BNP PARIBAS ARBITRAGE</name>
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        <name>American International Group I</name>
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        <name>RBC CAPITAL MARKETS, LLC</name>
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        <name>Prudential PLC</name>
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        <name>J.P. MORGAN SECURITIES LLC</name>
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        <name>PG&amp;E Corp</name>
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        <name>Invesco Ltd</name>
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        <name>BNP PARIBAS SECURITIES CORP.</name>
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        <name>Raytheon Technologies Corp</name>
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        <name>BMO CAPITAL MARKETS CORP.</name>
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        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
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        <lei>213800LH1BZH3DI6G760</lei>
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        <name>SG AMERICAS SECURITIES, LLC</name>
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        <name>BARCLAYS CAPITAL INC.</name>
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        <name>MSC Industrial Direct Co Inc</name>
        <lei>0XVKH0LN6YGOWO2EGO17</lei>
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        <fairValLevel>1</fairValLevel>
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        <name>Elevance Health Inc</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
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        <name>CITIGROUP GLOBAL MARKETS INC.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Citigroup Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Komatsu Ltd</name>
        <lei>5493004LQ0B4T7QPQV17</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>BOFA SECURITIES, INC.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CITIGROUP GLOBAL MARKETS INC.</name>
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        <name>Reckitt Benckiser Group PLC</name>
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        <name>BNP PARIBAS SECURITIES CORP.</name>
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        <name>RBC CAPITAL MARKETS, LLC</name>
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        <lei>RGUZHJ05YTITL6D76949</lei>
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        <name>BARCLAYS CAPITAL INC.</name>
        <lei>AC28XWWI3WIBK2824319</lei>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
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        <isRestrictedSec>N</isRestrictedSec>

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        <name>Samsung Electronics Co Ltd</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>Samsung Electronics Co Ltd</title>
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        <name>BMO CAPITAL MARKETS CORP.</name>
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        <name>RBC CAPITAL MARKETS, LLC</name>
        <lei>549300LCO2FLSSVFFR64</lei>
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      <invstOrSec>
        <name>BMO CAPITAL MARKETS CORP.</name>
        <lei>RUC0QBLBRPRCU4W1NE59</lei>
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      <invstOrSec>
        <name>Ralph Lauren Corp</name>
        <lei>HO1QNWM0IXBZ0QSMMO20</lei>
        <title>Ralph Lauren Corp</title>
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        <fairValLevel>1</fairValLevel>
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        <name>RBC CAPITAL MARKETS, LLC</name>
        <lei>549300LCO2FLSSVFFR64</lei>
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        <invCountry>CA</invCountry>
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        <name>MIZUHO SECURITIES USA LLC</name>
        <lei>7TK5RJIZDFROZCA6XF66</lei>
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        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRYH6CAH5"/>
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        <invCountry>KY</invCountry>

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      <invstOrSec>
        <name>RBC CAPITAL MARKETS, LLC</name>
        <lei>549300LCO2FLSSVFFR64</lei>
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        <invCountry>N/A</invCountry>
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        <name>Microsoft Corp</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>SG AMERICAS SECURITIES, LLC</name>
        <lei>549300F35UE0BOM1WJ55</lei>
        <title>SG AMERICAS SECURITIES LLC (ELEVANCE HEALTH INC) 17.53 06/12/2023 (ELV US)</title>
        <cusip>000000000</cusip>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Siemens AG</name>
        <lei>W38RGI023J3WT1HWRP32</lei>
        <title>Siemens AG</title>
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        <name>NOMURA SECURITIES INTERNATIONAL, INC.</name>
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        <name>WELLS FARGO &amp; CO</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>WELLS FARGO &amp; CO</title>
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        <name>RBC CAPITAL MARKETS, LLC</name>
        <lei>549300LCO2FLSSVFFR64</lei>
        <title>RBC CAPITAL MARKETS, LLC. (COGNIZANT TECHNOLOGY SOLUTIONS CORP) 15.07 06/07/2023 (CTSH US)</title>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>BNP PARIBAS ARBITRAGE</name>
        <lei>6EWKU0FGVX5QQJHFGT48</lei>
        <title>BNP PARIBAS ARBITRAGE (SHELL PLC) 20.14 07/20/2023 (SHEL LN)</title>
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        <name>HP Inc</name>
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        <title>HP Inc</title>
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        <name>Sealed Air Corp</name>
        <lei>Q0M0CZB4YN6JZ65WXI09</lei>
        <title>Sealed Air Corp</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <invCountry>US</invCountry>
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        <name>Fidelity National Financial In</name>
        <lei>549300CAZYIH39SYQ287</lei>
        <title>Fidelity National Financial Inc</title>
        <cusip>31620R303</cusip>
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          <ticker value="FNF"/>
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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>Unilever PLC</name>
        <lei>549300MKFYEKVRWML317</lei>
        <title>Unilever PLC</title>
        <cusip>904767704</cusip>
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          <ticker value="UL"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
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        <fairValLevel>1</fairValLevel>
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        <name>BNP PARIBAS ARBITRAGE</name>
        <lei>6EWKU0FGVX5QQJHFGT48</lei>
        <title>BNP PARIBAS ARBITRAGE (ASTRAZENECA PLC) 16.77 07/20/2023 (AZN LN)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRYHQE6Z4"/>
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        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>SG AMERICAS SECURITIES, LLC</name>
        <lei>549300F35UE0BOM1WJ55</lei>
        <title>SG AMERICAS SECURITIES LLC (LEIDOS HOLDINGS INC) 14.25 06/22/2023 (LDOS US)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRYGA67H9"/>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Robert Half International Inc</name>
        <lei>529900VPCUY9H3HLIC08</lei>
        <title>Robert Half International Inc</title>
        <cusip>770323103</cusip>
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          <isin value="US7703231032"/>
          <ticker value="RHI"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Dun &amp; Bradstreet Holdings Inc</name>
        <lei>N/A</lei>
        <title>Dun &amp; Bradstreet Holdings Inc</title>
        <cusip>26484T106</cusip>
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          <isin value="US26484T1060"/>
          <ticker value="DNB"/>
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        <valUSD>16073100.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>BOFA SECURITIES, INC.</name>
        <lei>549300HN4UKV1E2R3U73</lei>
        <title>BOFA SECURITIES INC. (MSC INDUSTRIAL DIRECT CO INC) 22.44 06/02/2023 (MSM US)</title>
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          <other otherDesc="INTERNAL" value="BRYG3Q2G0"/>
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        <balance>55000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-06-02</maturityDt>
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      <invstOrSec>
        <name>Medtronic PLC</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>Medtronic PLC</title>
        <cusip>000000000</cusip>
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          <isin value="IE00BTN1Y115"/>
          <ticker value="MDT"/>
          <other otherDesc="SEDOL" value="BTN1Y11"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>SG AMERICAS SECURITIES, LLC</name>
        <lei>549300F35UE0BOM1WJ55</lei>
        <title>SG AMERICAS SECURITIES LLC (BAXTER INTERNATIONAL INC) 20.91 06/02/2023 (BAX US)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRYG3PEP9"/>
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        <balance>509300.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>BNP PARIBAS SECURITIES CORP.</name>
        <lei>RCNB6OTYUAMMP879YW96</lei>
        <title>BNP PARIBAS SECURITIES CORPORATION (UNILEVER PLC) 15.57 06/26/2023 (UL US)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRYGQZ8C8"/>
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        <balance>177700.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>8932813.07000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-06-26</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>J.P. MORGAN SECURITIES LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>J.P. MORGAN SECURITIES LLC (WELLS FARGO &amp; CO) 16.45 06/29/2023 (WFC US)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRYGM4674"/>
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        <balance>465500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18708560.17000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-06-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>16.45000000</annualizedRt>
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      <invstOrSec>
        <name>Fox Corp</name>
        <lei>549300DDU6FDRBIELS05</lei>
        <title>Fox Corp</title>
        <cusip>35137L105</cusip>
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          <isin value="US35137L1052"/>
          <ticker value="FOXA"/>
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        <balance>384273.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11989317.60000000</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>BNP PARIBAS ARBITRAGE</name>
        <lei>6EWKU0FGVX5QQJHFGT48</lei>
        <title>BNP PARIBAS ARBITRAGE (SIEMENS AG) 18.97 07/20/2023 (SIE GY)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRYHQESL1"/>
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        <balance>25100.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-20</maturityDt>
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        <name>GOLDMAN SACHS &amp; CO. LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>GOLDMAN SACHS &amp; CO. LLC (AT&amp;T INC) 10.56 07/03/2023 (T US)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRYHFRCF4"/>
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        <balance>358700.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-07-03</maturityDt>
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          <isLoanByFund>N</isLoanByFund>
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        <name>First Citizens BancShares Inc/</name>
        <lei>549300N3Z00ZHE2XC526</lei>
        <title>First Citizens BancShares Inc/NC</title>
        <cusip>31946M103</cusip>
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          <isin value="US31946M1036"/>
          <ticker value="FCNCA"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Alphabet Inc</name>
        <lei>5493006MHB84DD0ZWV18</lei>
        <title>Alphabet Inc</title>
        <cusip>02079K107</cusip>
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          <isin value="US02079K1079"/>
          <ticker value="GOOG"/>
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        <curCd>USD</curCd>
        <valUSD>5081857.04000000</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>BlackRock Liquidity Funds T-Fund</name>
        <lei>5493002L9DNZ83RX7V61</lei>
        <title>BlackRock Liquidity Funds T-Fund</title>
        <cusip>09248U718</cusip>
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          <isin value="US09248U7182"/>
          <ticker value="TSTXX"/>
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        <curCd>USD</curCd>
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        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Eli Lilly &amp; Co</name>
        <lei>FRDRIPF3EKNDJ2CQJL29</lei>
        <title>Eli Lilly &amp; Co</title>
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          <isin value="US5324571083"/>
          <ticker value="LLY"/>
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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>BMO CAPITAL MARKETS CORP.</name>
        <lei>RUC0QBLBRPRCU4W1NE59</lei>
        <title>BMO CAPITAL MARKETS CORP. (HUMANA INC) 17.606 07/13/2023 (HUM US)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="8856126"/>
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        <balance>7600.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3860781.80000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Rogers Communications Inc</name>
        <lei>54930030NVF3Y2OL0A78</lei>
        <title>Rogers Communications Inc</title>
        <cusip>775109200</cusip>
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          <isin value="CA7751092007"/>
          <ticker value="RCI/B"/>
          <other otherDesc="SEDOL" value="2169051"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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        <name>RBC CAPITAL MARKETS, LLC</name>
        <lei>549300LCO2FLSSVFFR64</lei>
        <title>RBC CAPITAL MARKETS, LLC. (ROBERT HALF INTERNATIONAL INC) 18.55 07/17/2023 (RHI US)</title>
        <cusip>000000000</cusip>
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          <other otherDesc="INTERNAL" value="BRYHLHJH8"/>
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        <balance>29800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1961021.68000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Equitable Holdings Inc</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>Equitable Holdings Inc</title>
        <cusip>29452E101</cusip>
        <identifiers>
          <isin value="US29452E1010"/>
          <ticker value="EQH"/>
        </identifiers>
        <balance>508599.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12481019.46000000</valUSD>
        <pctVal>0.636714420694</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BNP PARIBAS ARBITRAGE</name>
        <lei>6EWKU0FGVX5QQJHFGT48</lei>
        <title>BNP PARIBAS ARBITRAGE (DANONE SA) 20.41 07/10/2023 (BN FP)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRYGVHVF9"/>
        </identifiers>
        <balance>62700.00000000</balance>
        <units>PA</units>
        <currencyConditional curCd="EUR" exchangeRt="0.93554121"/>
        <valUSD>3780029.40000000</valUSD>
        <pctVal>0.192836750022</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>N/A</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>20.41000000</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>GOLDMAN SACHS &amp; CO. LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>GOLDMAN SACHS &amp; CO. LLC (SS&amp;C TECHNOLOGIES HOLDINGS INC) 16.43 06/22/2023 (SSNC US)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="INTERNAL" value="BRYGA69Z7"/>
        </identifiers>
        <balance>275900.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15276515.68000000</valUSD>
        <pctVal>0.779325588154</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-06-22</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>16.43000000</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>2023-07-25</ncom:dateSigned>
      <ncom:nameOfApplicant>BlackRock Funds</ncom:nameOfApplicant>
      <ncom:signature>Chuck Pulsfort</ncom:signature>
      <ncom:signerName>Chuck Pulsfort</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
