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            <amtCurSold>6406930.70000000</amtCurSold>
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            <amtCurPur>4873135.63000000</amtCurPur>
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            <settlementDt>2019-10-11</settlementDt>
            <unrealizedAppr>36351.90000000</unrealizedAppr>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="Internal FX Forward Identifier" value="19IGKBB9ZFC"/>
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        <balance>1.00000000</balance>
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        <curCd>N/A</curCd>
        <valUSD>2876.57000000</valUSD>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>State Street Bank and Trust Company</counterpartyName>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal FX Forward Identifier" value="19IEKBB01HC"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>696.04000000</valUSD>
        <pctVal>0.000055391191</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
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              <counterpartyName>State Street Bank and Trust Company</counterpartyName>
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            <amtCurPur>45198.77000000</amtCurPur>
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      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
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        <cusip>N/A</cusip>
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          <other otherDesc="Internal FX Forward Identifier" value="19IOKBB9MMN"/>
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        <balance>1.00000000</balance>
        <units>NC</units>
        <curCd>N/A</curCd>
        <valUSD>-51.66000000</valUSD>
        <pctVal>-0.00000411112</pctVal>
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        <assetCat>DFE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>N/A</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>State Street Bank and Trust Company</counterpartyName>
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            <amtCurPur>82191.16000000</amtCurPur>
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            <unrealizedAppr>-51.66000000</unrealizedAppr>
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        <securityLending>
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      <invstOrSec>
        <name>Medtronic PLC</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>Medtronic PLC</title>
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          <isin value="IE00BTN1Y115"/>
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        <balance>87154.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Wright Medical Group N.V.</name>
        <lei>549300JGCCQ1HTDOXU32</lei>
        <title>Wright Medical Group N.V., Conv.</title>
        <cusip>98236JAB4</cusip>
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          <isin value="US98236JAB44"/>
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        <balance>897000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Wright Medical Group NV</name>
              <title>Wright Medical Group NV</title>
              <curCd>USD</curCd>
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                <cusip value="N96617118"/>
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          <currencyInfos>
            <currencyInfo convRatio="46.81650000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PNC Financial Services Group, Inc. (The)</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
        <title>PNC Financial Services Group, Inc. (The)</title>
        <cusip>693475105</cusip>
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          <isin value="US6934751057"/>
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        <balance>137475.00000000</balance>
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        <curCd>USD</curCd>
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        <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>Rogers Communications, Inc.</name>
        <lei>54930030NVF3Y2OL0A78</lei>
        <title>Rogers Communications, Inc.</title>
        <cusip>775109BG5</cusip>
        <identifiers>
          <isin value="US775109BG57"/>
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        <balance>1379000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1580405.82000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2048-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.30000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Capri Holdings Ltd.</name>
        <lei>549300LPG8W0H1OX3A26</lei>
        <title>Capri Holdings Ltd.</title>
        <cusip>G1890L107</cusip>
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          <isin value="VGG1890L1076"/>
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        <balance>401127.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13301371.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
        <cusip>20030NCL3</cusip>
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          <isin value="US20030NCL38"/>
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        <balance>364000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>436907.99000000</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>2038-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Finisar Corp.</name>
        <lei>529900017XY2RY3P7A48</lei>
        <title>Finisar Corp., Conv.</title>
        <cusip>31787AAP6</cusip>
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          <isin value="US31787AAP66"/>
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        <balance>1013000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1012485.84000000</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>2036-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Finisar Corp</name>
              <title>Finisar Corp.</title>
              <curCd>USD</curCd>
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          <currencyInfos>
            <currencyInfo convRatio="22.63880000" curCd="USD"/>
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          <delta>XXXX</delta>
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      <invstOrSec>
        <name>Crown Castle International Corp.</name>
        <lei>54930012H97VSM0I2R19</lei>
        <title>Crown Castle International Corp.</title>
        <cusip>22822VAF8</cusip>
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          <isin value="US22822VAF85"/>
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        <balance>46000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>53545.62000000</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>2047-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Live Nation Entertainment, Inc.</name>
        <lei>5493007B9BM9ZXJINO78</lei>
        <title>Live Nation Entertainment, Inc.</title>
        <cusip>538034AQ2</cusip>
        <identifiers>
          <isin value="US538034AQ25"/>
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        <balance>1953000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2294580.89000000</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>2023-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
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            <dbtSecRefInstrument>
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              <title>Live Nation Entertainment, Inc.</title>
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      <invstOrSec>
        <name>Husky Energy, Inc.</name>
        <lei>N/A</lei>
        <title>Husky Energy, Inc.</title>
        <cusip>448055AJ2</cusip>
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          <isin value="US448055AJ20"/>
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        <balance>274000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>282757.25000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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      <invstOrSec>
        <name>PartnerRe Finance B LLC</name>
        <lei>549300O0FAGHK2F79881</lei>
        <title>PartnerRe Finance B LLC</title>
        <cusip>70213BAB7</cusip>
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        <balance>1015000.00000000</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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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>Home Depot, Inc. (The)</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>Home Depot, Inc. (The)</title>
        <cusip>437076BL5</cusip>
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        <balance>575000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>576471.17000000</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>2021-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Bayer US Finance II LLC</name>
        <lei>529900XWNEXYNJ3X6T40</lei>
        <title>Bayer US Finance II LLC</title>
        <cusip>07274NAL7</cusip>
        <identifiers>
          <isin value="US07274NAL73"/>
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        <balance>985000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1064714.43000000</valUSD>
        <pctVal>0.084730476620</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Marathon Oil Corp.</name>
        <lei>1FRVQX2CRLGC1XLP5727</lei>
        <title>Marathon Oil Corp.</title>
        <cusip>565849106</cusip>
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          <isin value="US5658491064"/>
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        <balance>826837.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>10145289.99000000</valUSD>
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        <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>United Technologies Corp.</name>
        <lei>I07WOS4YJ0N7YRFE7309</lei>
        <title>United Technologies Corp.</title>
        <cusip>913017CW7</cusip>
        <identifiers>
          <isin value="US913017CW70"/>
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        <balance>299000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>356622.94000000</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>2038-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.45000000</annualizedRt>
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      </invstOrSec>
      <invstOrSec>
        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
        <title>Ford Motor Credit Co. LLC</title>
        <cusip>345397YG2</cusip>
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          <isin value="US345397YG20"/>
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        <balance>445000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>443797.04000000</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>2024-01-09</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.81000000</annualizedRt>
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      <invstOrSec>
        <name>J. M. Smucker Co. (The)</name>
        <lei>5493000WDH6A0LHDJD55</lei>
        <title>J. M. Smucker Co. (The)</title>
        <cusip>832696AF5</cusip>
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          <isin value="US832696AF57"/>
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        <balance>3038000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3041347.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.50000000</annualizedRt>
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      <invstOrSec>
        <name>Federal Home Loan Mortgage Corp.</name>
        <lei>N/A</lei>
        <title>Federal Home Loan Mortgage Corp.</title>
        <cusip>3128KLAK3</cusip>
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          <isin value="US3128KLAK32"/>
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        <balance>16.32000000</balance>
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        <curCd>USD</curCd>
        <valUSD>18.41000000</valUSD>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SanDisk LLC</name>
        <lei>5493009Q58RSNRUOV288</lei>
        <title>SanDisk LLC, Conv.</title>
        <cusip>80004CAF8</cusip>
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          <isin value="US80004CAF86"/>
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        <balance>2520000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2270444.40000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-10-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.50000000</annualizedRt>
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            <dbtSecRefInstrument>
              <name>Western Digital Corp</name>
              <title>Western Digital Corp.</title>
              <curCd>USD</curCd>
              <identifiers>
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          <currencyInfos>
            <currencyInfo convRatio="2.60200000" curCd="USD"/>
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          <delta>XXXX</delta>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Telefonica Emisiones S.A.</name>
        <lei>549300Y5MFC4SW5Z3K71</lei>
        <title>Telefonica Emisiones S.A.</title>
        <cusip>87938WAV5</cusip>
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          <isin value="US87938WAV54"/>
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        <balance>750000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>826650.54000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-03-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.66500000</annualizedRt>
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      <invstOrSec>
        <name>Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc.</name>
        <lei>N/A</lei>
        <title>Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc.</title>
        <cusip>03522AAJ9</cusip>
        <identifiers>
          <isin value="US03522AAJ97"/>
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        <balance>1021000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1216473.27000000</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>2046-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.90000000</annualizedRt>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
        <cusip>907818DZ8</cusip>
        <identifiers>
          <isin value="US907818DZ87"/>
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        <balance>401000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>446850.67000000</valUSD>
        <pctVal>0.035560587121</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.15000000</annualizedRt>
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      <invstOrSec>
        <name>Comcast Corp.</name>
        <lei>51M0QTTNCGUN7KFCFZ59</lei>
        <title>Comcast Corp.</title>
        <cusip>20030NCJ8</cusip>
        <identifiers>
          <isin value="US20030NCJ81"/>
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        <balance>746000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>827136.51000000</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>2038-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.90000000</annualizedRt>
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      <invstOrSec>
        <name>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
        <cusip>110122CC0</cusip>
        <identifiers>
          <isin value="US110122CC04"/>
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        <balance>603000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>684997.95000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Viavi Solutions, Inc.</name>
        <lei>5493006K3E3N1QOBF092</lei>
        <title>Viavi Solutions, Inc., Conv.</title>
        <cusip>925550AB1</cusip>
        <identifiers>
          <isin value="US925550AB17"/>
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        <balance>1806000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2223637.50000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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            <dbtSecRefInstrument>
              <name>Viavi Solutions Inc</name>
              <title>Viavi Solutions, Inc.</title>
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      <invstOrSec>
        <name>Starbucks Corp.</name>
        <lei>OQSJ1DU9TAOC51A47K68</lei>
        <title>Starbucks Corp.</title>
        <cusip>855244AT6</cusip>
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          <isin value="US855244AT67"/>
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        <balance>685000.00000000</balance>
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        <valUSD>740566.82000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.55000000</annualizedRt>
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      <invstOrSec>
        <name>Ingredion, Inc.</name>
        <lei>PKSTQ48QDN0XSVS7YK88</lei>
        <title>Ingredion, Inc.</title>
        <cusip>219023AC2</cusip>
        <identifiers>
          <isin value="US219023AC21"/>
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        <balance>232000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>302471.86000000</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>2037-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.62500000</annualizedRt>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
        <cusip>00206RCG5</cusip>
        <identifiers>
          <isin value="US00206RCG56"/>
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        <balance>851000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>945238.37000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>AXA Equitable Holdings, Inc.</name>
        <lei>549300FIBAKMNHPZ4009</lei>
        <title>AXA Equitable Holdings, Inc.</title>
        <cusip>054561105</cusip>
        <identifiers>
          <isin value="US0545611057"/>
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        <balance>277318.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6145366.88000000</valUSD>
        <pctVal>0.489051195398</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Molson Coors Brewing Co.</name>
        <lei>54930073LBBH6ZCBE225</lei>
        <title>Molson Coors Brewing Co.</title>
        <cusip>60871RAH3</cusip>
        <identifiers>
          <isin value="US60871RAH30"/>
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        <balance>361000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>365671.77000000</valUSD>
        <pctVal>0.029100331962</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</annualizedRt>
          <isDefault>N</isDefault>
          <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>
        <name>El Paso Energy Capital Trust I</name>
        <lei>N/A</lei>
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        <name>Energy Transfer Operating, L.P.</name>
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        <name>Citigroup, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Texas Instruments, Inc.</name>
        <lei>WDJNR2L6D8RWOEB8T652</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-05-15</maturityDt>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <name>Air Lease Corp.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-09-15</maturityDt>
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        <name>Oil States International, Inc.</name>
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        <name>Laboratory Corp. of America Holdings</name>
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        <name>Synchrony Financial</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2027-12-01</maturityDt>
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          <annualizedRt>3.95000000</annualizedRt>
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      <invstOrSec>
        <name>U.S. Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828PC8</cusip>
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          <isin value="US912828PC88"/>
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          <maturityDt>2020-11-15</maturityDt>
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          <annualizedRt>2.62500000</annualizedRt>
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        <name>Apple, Inc.</name>
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        <title>Apple, Inc.</title>
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        <name>Altria Group, Inc.</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>The PNC Financial Services Group, Inc.</name>
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        <name>Novartis AG</name>
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        <name>International Paper Co.</name>
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        <name>Guardian Life Global Funding</name>
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        <name>N/A</name>
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        <name>Wells Fargo &amp; Co.</name>
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        <name>Enterprise Products Operating LLC</name>
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        <name>Energy Transfer Operating L.P.</name>
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        <name>DXC Technology Co.</name>
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        <name>Fiserv, Inc.</name>
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        <name>NBCUniversal Media LLC</name>
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        <name>KKR Group Finance Co. III LLC</name>
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        <name>Gilead Sciences, Inc.</name>
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        <name>Air Lease Corp.</name>
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        <name>Allergan Funding SCS</name>
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        <name>ERAC USA Finance LLC</name>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2019-12-19</maturityDt>
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      </invstOrSec>
      <invstOrSec>
        <name>Plains All American Pipeline L.P./PAA Finance Corp.</name>
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          <isin value="US72650RAZ55"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-06-01</maturityDt>
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      <invstOrSec>
        <name>Aviation Capital Group LLC</name>
        <lei>549300ODEK8HY3445C77</lei>
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        <cusip>05367AAH6</cusip>
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          <isin value="US05367AAH68"/>
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        <balance>669000.00000000</balance>
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        <curCd>USD</curCd>
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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>2025-10-01</maturityDt>
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      <invstOrSec>
        <name>National Australia Bank Ltd.</name>
        <lei>F8SB4JFBSYQFRQEH3Z21</lei>
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        <balance>945000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-12</maturityDt>
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          <annualizedRt>1.87500000</annualizedRt>
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      <invstOrSec>
        <name>Regency Centers L.P.</name>
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          <isin value="US75884RAZ64"/>
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        <balance>745000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>744411.17000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.95000000</annualizedRt>
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      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
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          <isin value="US46647PAM86"/>
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        <balance>1043000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1103313.18000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2029-01-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.50900000</annualizedRt>
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        <securityLending>
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        <name>NuVasive, Inc.</name>
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        <title>NuVasive, Inc., Conv.</title>
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          <isin value="US670704AG01"/>
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        <balance>1710000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2026350.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
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              <title>NuVasive, Inc.</title>
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          <currencyInfos>
            <currencyInfo convRatio="16.71580000" curCd="USD"/>
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          <delta>XXXX</delta>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Duke Energy Corp.</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp.</title>
        <cusip>26441C204</cusip>
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          <isin value="US26441C2044"/>
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        <balance>59193.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5674240.98000000</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>Federal National Mortgage Association</name>
        <lei>B1V7KEBTPIMZEU4LTD58</lei>
        <title>Federal National Mortgage Association</title>
        <cusip>31384WAH3</cusip>
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          <isin value="US31384WAH34"/>
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        <balance>1075.98000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1210.46000000</valUSD>
        <pctVal>0.000096328977</pctVal>
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        <assetCat>ABS-MBS</assetCat>
        <issuerCat>USGSE</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>9.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>DuPont de Nemours, Inc.</name>
        <lei>5493004JF0SDFLM8GD76</lei>
        <title>DuPont de Nemours, Inc.</title>
        <cusip>26614N102</cusip>
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          <isin value="US26614N1028"/>
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        <balance>104467.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7449541.77000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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      <invstOrSec>
        <name>Advance Auto Parts, Inc.</name>
        <lei>529900UCNQ5H9FSL0Y70</lei>
        <title>Advance Auto Parts, Inc.</title>
        <cusip>00751YAC0</cusip>
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          <isin value="US00751YAC03"/>
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        <balance>602000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>650468.21000000</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>2023-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FirstEnergy Corp.</name>
        <lei>549300SVYJS666PQJH88</lei>
        <title>FirstEnergy Corp.</title>
        <cusip>337932107</cusip>
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          <isin value="US3379321074"/>
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        <balance>120637.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5818322.51000000</valUSD>
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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>Mead Johnson Nutrition Co.</name>
        <lei>E4BJRFT3MF4GJDY1SC50</lei>
        <title>Mead Johnson Nutrition Co.</title>
        <cusip>582839AH9</cusip>
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          <isin value="US582839AH96"/>
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        <balance>60000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>65708.69000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.12500000</annualizedRt>
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      <invstOrSec>
        <name>Insulet Corp.</name>
        <lei>549300TZTYD2PYN92D43</lei>
        <title>Insulet Corp., Conv.</title>
        <cusip>45784PAH4</cusip>
        <identifiers>
          <isin value="US45784PAH47"/>
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        <balance>433000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>797673.63000000</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>2024-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.37500000</annualizedRt>
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              <title>Insulet Corp.</title>
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      <invstOrSec>
        <name>U.S. Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828MP2</cusip>
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        <balance>41900.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>42160.24000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>BP PLC</name>
        <lei>213800LH1BZH3DI6G760</lei>
        <title>BP PLC</title>
        <cusip>N/A</cusip>
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        <balance>2011410.00000000</balance>
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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>Medicines Co. (The)</name>
        <lei>254900Z72DIL282LFL79</lei>
        <title>Medicines Co. (The), Conv.</title>
        <cusip>584688AG0</cusip>
        <identifiers>
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        <balance>853000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1032130.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.75000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
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              <title>Medicines Co. (The)</title>
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          <currencyInfos>
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          <delta>XXXX</delta>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>FedEx Corp.</name>
        <lei>549300E707U7WNPZN687</lei>
        <title>FedEx Corp.</title>
        <cusip>31428XAW6</cusip>
        <identifiers>
          <isin value="US31428XAW65"/>
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        <balance>828000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>929599.17000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>United Parcel Service, Inc.</name>
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        <name>Tupperware Brands Corp.</name>
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        <name>Celgene Corp.</name>
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        <name>Willis North America, Inc.</name>
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        <name>FireEye, Inc.</name>
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        <name>Supernus Pharmaceuticals, Inc.</name>
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        <name>Occidental Petroleum Corp.</name>
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        <name>Verizon Communications, Inc.</name>
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        <name>Liberty Media Corp.</name>
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        <name>Zimmer Biomet Holdings, Inc.</name>
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        <name>Willis Towers Watson PLC</name>
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        <name>Markel Corp.</name>
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        <name>Athene Global Funding</name>
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        <title>Athene Global Funding</title>
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        <name>Allstate Corp. (The)</name>
        <lei>OBT0W1ED8G0NWVOLOJ77</lei>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.28000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Alcon, Inc.</name>
        <lei>549300LDT5AP8S0NBM78</lei>
        <title>Alcon, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="CH0432492467"/>
        </identifiers>
        <balance>87053.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.99805000"/>
        <valUSD>5080612.12000000</valUSD>
        <pctVal>0.404317509297</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Convertible Trust - Consumer</name>
        <lei>N/A</lei>
        <title>Convertible Trust - Consumer, Series 2018-1</title>
        <cusip>21256PAA9</cusip>
        <identifiers>
          <isin value="US21256PAA93"/>
        </identifiers>
        <balance>5674000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5795423.60000000</valUSD>
        <pctVal>0.461202544089</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-17</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Workday, Inc.</name>
        <lei>549300J0DYC0N31V7G13</lei>
        <title>Workday, Inc., Conv.</title>
        <cusip>98138HAF8</cusip>
        <identifiers>
          <isin value="US98138HAF82"/>
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        <balance>2173000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2859407.65000000</valUSD>
        <pctVal>0.227553009717</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Workday Inc</name>
              <title>Workday, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="98138H101"/>
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            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="6.79820000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DexCom, Inc.</name>
        <lei>549300YSK3QDSFR5EU59</lei>
        <title>DexCom, Inc., Conv.</title>
        <cusip>252131AF4</cusip>
        <identifiers>
          <isin value="US252131AF44"/>
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        <balance>2356000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3748516.98000000</valUSD>
        <pctVal>0.298308749638</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-05-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.75000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>DexCom Inc</name>
              <title>DexCom, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="252131107"/>
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            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="10.09180000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TechnipFMC PLC</name>
        <lei>549300D5I93QWCJTCK36</lei>
        <title>TechnipFMC PLC</title>
        <cusip>G87110105</cusip>
        <identifiers>
          <isin value="GB00BDSFG982"/>
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        <balance>453157.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10939209.98000000</valUSD>
        <pctVal>0.870547490800</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46647PAN6</cusip>
        <identifiers>
          <isin value="US46647PAN69"/>
        </identifiers>
        <balance>1043000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1160582.17000000</valUSD>
        <pctVal>0.092359676595</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2049-01-23</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.89700000</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>Cisco Systems, Inc.</name>
        <lei>8E6NF1YAL0WT6CWXXV93</lei>
        <title>Cisco Systems, Inc.</title>
        <cusip>17275R102</cusip>
        <identifiers>
          <isin value="US17275R1023"/>
        </identifiers>
        <balance>220733.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10906417.53000000</valUSD>
        <pctVal>0.867937852159</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>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
        <cusip>00206RDH2</cusip>
        <identifiers>
          <isin value="US00206RDH21"/>
        </identifiers>
        <balance>82000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>94496.66000000</valUSD>
        <pctVal>0.007520088781</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2042-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</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>General Motors Financial Co., Inc.</name>
        <lei>5493008B6JBRUJ90QL97</lei>
        <title>General Motors Financial Co., Inc.</title>
        <cusip>37045XBG0</cusip>
        <identifiers>
          <isin value="US37045XBG07"/>
        </identifiers>
        <balance>459000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>498725.45000000</valUSD>
        <pctVal>0.039688806585</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</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>GS Finance Corp.</name>
        <lei>549300FR80KBVO6DRL61</lei>
        <title>GS Finance Corp., Series 0001, Conv.</title>
        <cusip>362273BK9</cusip>
        <identifiers>
          <isin value="US362273BK90"/>
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        <balance>5920000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5740683.20000000</valUSD>
        <pctVal>0.456846277233</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Bank of America Corp</name>
              <title>Bank of America Corp.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="060505104"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="100.00000000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spectra Energy Partners, L.P.</name>
        <lei>2HKVXE7U4NF5B6UGSU72</lei>
        <title>Spectra Energy Partners, L.P.</title>
        <cusip>84756NAG4</cusip>
        <identifiers>
          <isin value="US84756NAG43"/>
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        <balance>488000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>531900.69000000</valUSD>
        <pctVal>0.042328907835</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2045-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</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>Gilead Sciences, Inc.</name>
        <lei>549300WTZWR07K8MNV44</lei>
        <title>Gilead Sciences, Inc.</title>
        <cusip>375558AU7</cusip>
        <identifiers>
          <isin value="US375558AU71"/>
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        <balance>448000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>467472.62000000</valUSD>
        <pctVal>0.037201691630</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Australia &amp; New Zealand Banking Group Ltd.</name>
        <lei>JHE42UYNWWTJB8YTTU19</lei>
        <title>Australia &amp; New Zealand Banking Group Ltd.</title>
        <cusip>05253JAK7</cusip>
        <identifiers>
          <isin value="US05253JAK79"/>
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        <balance>2690000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2711112.95000000</valUSD>
        <pctVal>0.215751647533</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-11-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.70000000</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>Nutrien Ltd.</name>
        <lei>5493002QQ7GD21OWF963</lei>
        <title>Nutrien Ltd.</title>
        <cusip>67077M108</cusip>
        <identifiers>
          <isin value="CA67077M1086"/>
        </identifiers>
        <balance>126522.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6310917.36000000</valUSD>
        <pctVal>0.502225780695</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Deere &amp; Co.</name>
        <lei>PWFTNG3EI0Y73OXWDH08</lei>
        <title>Deere &amp; Co.</title>
        <cusip>244199BE4</cusip>
        <identifiers>
          <isin value="US244199BE40"/>
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        <balance>1161000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1182749.65000000</valUSD>
        <pctVal>0.094123775111</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.60000000</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>U.S. Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
        <cusip>912828LY4</cusip>
        <identifiers>
          <isin value="US912828LY45"/>
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        <balance>272800.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>273235.58000000</valUSD>
        <pctVal>0.021744216355</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</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>Ingersoll-Rand PLC</name>
        <lei>549300BURLR9SLYY2705</lei>
        <title>Ingersoll-Rand PLC</title>
        <cusip>G47791101</cusip>
        <identifiers>
          <isin value="IE00B6330302"/>
        </identifiers>
        <balance>97465.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12008662.65000000</valUSD>
        <pctVal>0.955655038795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>Continental Airlines Pass Through Trust</name>
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        <name>U.S. Treasury Notes</name>
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        <name>CVS Pass Through Trust</name>
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        <name>Reliance Standard Life Global Funding II</name>
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        <name>Walgreens Boots Alliance, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Neurocrine Biosciences, Inc.</name>
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        <name>Federal Home Loan Mortgage Corp.</name>
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        <name>Sempra Energy</name>
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        <name>Jackson National Life Global Funding</name>
        <lei>635400PQXLYXWJI5QD78</lei>
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          <annualizedRt>3.25000000</annualizedRt>
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        <name>HCP, Inc.</name>
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          <annualizedRt>4.20000000</annualizedRt>
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        <name>DexCom, Inc.</name>
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        <name>MassMutual Global Funding II</name>
        <lei>549300K1IE3K7YU6VG29</lei>
        <title>MassMutual Global Funding II</title>
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        <name>Dell International LLC/EMC Corp.</name>
        <lei>N/A</lei>
        <title>Dell International LLC/EMC Corp.</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2023-06-15</maturityDt>
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          <annualizedRt>5.45000000</annualizedRt>
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        <name>Alimentation Couche-Tard, Inc.</name>
        <lei>549300OSW32RVX8CCZ87</lei>
        <title>Alimentation Couche-Tard, Inc.</title>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
        <cusip>00206RCP5</cusip>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <name>General Dynamics Corp.</name>
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        <name>Mondelez International, Inc.</name>
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        <name>Helix Energy Solutions Group, Inc.</name>
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        <name>Comcast Corp.</name>
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        <name>YY, Inc.</name>
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        <name>ConocoPhillips Co.</name>
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        <name>Oglethorpe Power Corp.</name>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DISH Network Corp.</name>
        <lei>529900U350CWHH15G169</lei>
        <title>DISH Network Corp., Conv.</title>
        <cusip>25470MAB5</cusip>
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          <isin value="US25470MAB54"/>
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        <balance>4505000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4138769.18000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>DISH Network Corp</name>
              <title>DISH Network Corp.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="25470M109"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="15.34290000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>SMBC Aviation Capital Finance DAC</name>
        <lei>549300OD7VKRVNWB2J98</lei>
        <title>SMBC Aviation Capital Finance DAC</title>
        <cusip>78448TAA0</cusip>
        <identifiers>
          <isin value="US78448TAA07"/>
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        <balance>315000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>315210.48000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Cigna Corp.</name>
        <lei>549300VIWYMSIGT1U456</lei>
        <title>Cigna Corp.</title>
        <cusip>125523AJ9</cusip>
        <identifiers>
          <isin value="US125523AJ93"/>
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        <balance>298000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>335888.22000000</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>2038-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.80000000</annualizedRt>
          <isDefault>N</isDefault>
          <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>Bristol-Myers Squibb Co.</name>
        <lei>HLYYNH7UQUORYSJQCN42</lei>
        <title>Bristol-Myers Squibb Co.</title>
        <cusip>110122108</cusip>
        <identifiers>
          <isin value="US1101221083"/>
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        <balance>212107.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10755945.97000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Avnet, Inc.</name>
        <lei>XJI53DCPL7QABOWK4Z75</lei>
        <title>Avnet, Inc.</title>
        <cusip>053807AS2</cusip>
        <identifiers>
          <isin value="US053807AS28"/>
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        <balance>641000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>690433.37000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</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>American Financial Group, Inc.</name>
        <lei>549300AFOM7IVKIU1G39</lei>
        <title>American Financial Group, Inc.</title>
        <cusip>025932AL8</cusip>
        <identifiers>
          <isin value="US025932AL88"/>
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        <balance>474000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>515978.01000000</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>2047-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>CSX Corp.</name>
        <lei>549300JVQR4N1MMP3Q88</lei>
        <title>CSX Corp.</title>
        <cusip>126408GU1</cusip>
        <identifiers>
          <isin value="US126408GU17"/>
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        <balance>346000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>437714.14000000</valUSD>
        <pctVal>0.034833497753</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2041-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Nationwide Financial Services, Inc.</name>
        <lei>5493001H7AZNDS6BKJ36</lei>
        <title>Nationwide Financial Services, Inc.</title>
        <cusip>638612AL5</cusip>
        <identifiers>
          <isin value="US638612AL51"/>
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        <balance>405000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>475714.47000000</valUSD>
        <pctVal>0.037857581941</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2044-11-18</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Wells Fargo &amp; Co.</name>
        <lei>PBLD0EJDB5FWOLXP3B76</lei>
        <title>Wells Fargo &amp; Co.</title>
        <cusip>94974BFY1</cusip>
        <identifiers>
          <isin value="US94974BFY11"/>
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        <balance>410000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>439813.78000000</valUSD>
        <pctVal>0.035000588095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.10000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>US Foods Holding Corp.</name>
        <lei>549300UGOZSO64CFPR97</lei>
        <title>US Foods Holding Corp.</title>
        <cusip>912008109</cusip>
        <identifiers>
          <isin value="US9120081099"/>
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        <balance>318949.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>13108803.90000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Kinder Morgan, Inc.</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan, Inc.</title>
        <cusip>49456BAG6</cusip>
        <identifiers>
          <isin value="US49456BAG68"/>
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        <balance>384000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>441761.55000000</valUSD>
        <pctVal>0.035155592550</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.30000000</annualizedRt>
          <isDefault>N</isDefault>
          <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>
        <name>American Airlines Pass Through Trust</name>
        <lei>N/A</lei>
        <title>American Airlines Pass Through Trust, Series 2014-1, Class A</title>
        <cusip>02377AAA6</cusip>
        <identifiers>
          <isin value="US02377AAA60"/>
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        <balance>308287.44000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>324133.41000000</valUSD>
        <pctVal>0.025794689678</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2028-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.70000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Noble Energy, Inc.</name>
        <lei>02VFQXG2D1LR5ZH3K186</lei>
        <title>Noble Energy, Inc.</title>
        <cusip>655044AG0</cusip>
        <identifiers>
          <isin value="US655044AG01"/>
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        <balance>756000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>843759.37000000</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>2043-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Burlington Northern Santa Fe, LLC</name>
        <lei>N/A</lei>
        <title>Burlington Northern Santa Fe, LLC</title>
        <cusip>12189LAP6</cusip>
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          <isin value="US12189LAP67"/>
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        <balance>901000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1155364.04000000</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>2043-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.15000000</annualizedRt>
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      <invstOrSec>
        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
        <title>Verizon Communications, Inc.</title>
        <cusip>92343VCQ5</cusip>
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          <isin value="US92343VCQ59"/>
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        <balance>297000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>339051.94000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2034-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.40000000</annualizedRt>
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      <invstOrSec>
        <name>Microsoft Corp.</name>
        <lei>INR2EJN1ERAN0W5ZP974</lei>
        <title>Microsoft Corp.</title>
        <cusip>594918BC7</cusip>
        <identifiers>
          <isin value="US594918BC73"/>
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        <balance>367000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>406413.30000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-12</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.50000000</annualizedRt>
          <isDefault>N</isDefault>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>IAC Financeco 3, Inc.</name>
        <lei>5493003IEL8HSZKWUI17</lei>
        <title>IAC Financeco 3, Inc., Conv.</title>
        <cusip>44932KAA4</cusip>
        <identifiers>
          <isin value="US44932KAA43"/>
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        <balance>3211000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3475799.58000000</valUSD>
        <pctVal>0.276605770291</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2030-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>IAC/InterActiveCorp</name>
              <title>IAC/InterActiveCorp.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="44919P508"/>
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          <currencyInfos>
            <currencyInfo convRatio="3.43230000" curCd="USD"/>
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          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Lowe's Cos., Inc.</name>
        <lei>WAFCR4OKGSC504WU3E95</lei>
        <title>Lowe's Cos., Inc.</title>
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          <isin value="US548661DS37"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2049-04-05</maturityDt>
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      <invstOrSec>
        <name>American Express Co.</name>
        <lei>R4PP93JZOLY261QX3811</lei>
        <title>American Express Co.</title>
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          <isin value="US025816BK48"/>
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        <balance>306000.00000000</balance>
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        <valUSD>324076.66000000</valUSD>
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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>2024-12-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</annualizedRt>
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      <invstOrSec>
        <name>Brookfield Asset Management, Inc.</name>
        <lei>C6J3FGIWG6MBDGTE8F80</lei>
        <title>Brookfield Asset Management, Inc.</title>
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          <isin value="US112585AH72"/>
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        <invCountry>CA</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2025-01-15</maturityDt>
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      <invstOrSec>
        <name>McKesson Corp.</name>
        <lei>549300WZWOM80UCFSF54</lei>
        <title>McKesson Corp.</title>
        <cusip>58155Q103</cusip>
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          <isin value="US58155Q1031"/>
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        <balance>76685.00000000</balance>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
        <cusip>172967424</cusip>
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          <isin value="US1729674242"/>
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        <balance>323271.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>22331560.68000000</valUSD>
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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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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Travelers Cos., Inc. (The)</name>
        <lei>549300Y650407RU8B149</lei>
        <title>Travelers Cos., Inc. (The)</title>
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          <isin value="US89417EAJ82"/>
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        <balance>605000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.60000000</annualizedRt>
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      <invstOrSec>
        <name>Apollo Management Holdings L.P.</name>
        <lei>5493006XQW0V5K38YM64</lei>
        <title>Apollo Management Holdings L.P.</title>
        <cusip>03765HAA9</cusip>
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          <isin value="US03765HAA95"/>
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        <balance>2715000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2866382.26000000</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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          <maturityDt>2024-05-30</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>WR Berkley Corp.</name>
        <lei>SQOAGCLKBDWNVYV1OV80</lei>
        <title>WR Berkley Corp.</title>
        <cusip>084423AS1</cusip>
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          <isin value="US084423AS19"/>
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        <balance>382000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>403790.98000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-03-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Bayer US Finance LLC</name>
        <lei>54930093Q75GSEM74I71</lei>
        <title>Bayer US Finance LLC</title>
        <cusip>07274EAF0</cusip>
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          <isin value="US07274EAF07"/>
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        <balance>590000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>597496.49000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-10-08</maturityDt>
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          <annualizedRt>3.00000000</annualizedRt>
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      <invstOrSec>
        <name>Continental Airlines Pass Through Trust</name>
        <lei>N/A</lei>
        <title>Continental Airlines Pass Through Trust, Series 2010-1, Class A</title>
        <cusip>21079VAA1</cusip>
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          <isin value="US21079VAA17"/>
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        <balance>122032.41000000</balance>
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        <curCd>USD</curCd>
        <valUSD>125339.42000000</valUSD>
        <pctVal>0.009974570172</pctVal>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-01-12</maturityDt>
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          <annualizedRt>4.75000000</annualizedRt>
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      <invstOrSec>
        <name>Markel Corp.</name>
        <lei>549300SCNO12JLWIK605</lei>
        <title>Markel Corp.</title>
        <cusip>570535AP9</cusip>
        <identifiers>
          <isin value="US570535AP98"/>
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        <balance>351000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>388159.41000000</valUSD>
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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>2043-03-30</maturityDt>
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          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>Silicon Laboratories, Inc.</name>
        <lei>4PRDF8Q9TDHRVZKZSZ47</lei>
        <title>Silicon Laboratories, Inc., Conv.</title>
        <cusip>826919AB8</cusip>
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        <balance>563000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2022-03-01</maturityDt>
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          <annualizedRt>1.37500000</annualizedRt>
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        <name>Morgan Stanley</name>
        <lei>IGJSJL3JD5P30I6NJZ34</lei>
        <title>Morgan Stanley</title>
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        <balance>454808.00000000</balance>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
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        <balance>128000.00000000</balance>
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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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      <invstOrSec>
        <name>Electricite de France S.A.</name>
        <lei>549300X3UK4GG3FNMO06</lei>
        <title>Electricite de France S.A.</title>
        <cusip>268317AM6</cusip>
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        <balance>745000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>N/A</maturityDt>
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      <invstOrSec>
        <name>Pacira BioSciences, Inc.</name>
        <lei>N/A</lei>
        <title>Pacira BioSciences, Inc., Conv.</title>
        <cusip>695127AD2</cusip>
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        <balance>1080000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <title>Pacira BioSciences Inc.</title>
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      <invstOrSec>
        <name>Jackson National Life Global Funding</name>
        <lei>635400PQXLYXWJI5QD78</lei>
        <title>Jackson National Life Global Funding</title>
        <cusip>46849LSR3</cusip>
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        <balance>479000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>477736.43000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-10-25</maturityDt>
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          <annualizedRt>2.10000000</annualizedRt>
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          <isPaidKind>N</isPaidKind>
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        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Toronto-Dominion Bank (The)</name>
        <lei>PT3QB789TSUIDF371261</lei>
        <title>Toronto-Dominion Bank (The)</title>
        <cusip>89114QCA4</cusip>
        <identifiers>
          <isin value="US89114QCA40"/>
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        <balance>560000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>571528.62000000</valUSD>
        <pctVal>0.045482517199</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

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        <name>Sunoco Logistics Partners Operations L.P.</name>
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        <name>Discover Bank</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Liberty Media Corp.</name>
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        <name>AT&amp;T, Inc.</name>
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        <name>Invesco Government &amp; Agency Portfolio</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Apple, Inc.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Regency Centers, L.P.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Ohio Power Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Australia &amp; New Zealand Banking Group Ltd.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>GCI Liberty, Inc.</name>
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        <name>Comcast Corp.</name>
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        <name>Charter Communications Operating, LLC/Charter Communications Operating Capital Corp.</name>
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        <name>Enterprise Products Operating LLC</name>
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        <name>Mizuho Financial Group Cayman 3 Ltd.</name>
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        <name>Devon Energy Corp.</name>
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        <name>Telefonica Emisiones S.A.</name>
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        <name>Ford Motor Credit Co. LLC</name>
        <lei>UDSQCVRUX5BONN0VY111</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>U.S. Treasury Bonds</name>
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        <name>GlaxoSmithKline Capital, Inc.</name>
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        <name>Aviation Capital Group LLC</name>
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        <name>Rio Tinto Finance USA Ltd.</name>
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        <name>Carnival Corp.</name>
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        <assetCat>EC</assetCat>
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        <name>AT&amp;T, Inc.</name>
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        <name>Laboratory Corp. of America Holdings</name>
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        <name>Federal National Mortgage Association</name>
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        <name>CVS Health Corp.</name>
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        <name>General Mills, Inc.</name>
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        <name>United Airlines Pass Through Trust</name>
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        <name>Celgene Corp.</name>
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        <name>eBay, Inc.</name>
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        <name>Bank of America Corp.</name>
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        <name>Eastman Chemical Co.</name>
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        <name>PPL Electric Utilities Corp.</name>
        <lei>W26OIMKOTNHK5IKZ4U19</lei>
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        <name>Wells Fargo &amp; Co.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Electricite de France S.A.</name>
        <lei>549300X3UK4GG3FNMO06</lei>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>EPR Properties</name>
        <lei>549300YSSXFHMPOWZ492</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Societe Generale S.A.</name>
        <lei>O2RNE8IBXP4R0TD8PU41</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Aircastle Ltd.</name>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>NextEra Energy Capital Holdings, Inc.</name>
        <lei>UMI46YPGBLUE4VGNNT48</lei>
        <title>NextEra Energy Capital Holdings, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>American International Group, Inc.</name>
        <lei>ODVCVCQG2BP6VHV36M30</lei>
        <title>American International Group, Inc.</title>
        <cusip>026874784</cusip>
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          <isin value="US0268747849"/>
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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>AMG Capital Trust II</name>
        <lei>N/A</lei>
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        <cusip>00170F209</cusip>
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          <isin value="US00170F2092"/>
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        <balance>42732.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EP</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46625HJD3</cusip>
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          <isin value="US46625HJD35"/>
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        <balance>74000.00000000</balance>
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        <curCd>USD</curCd>
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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>2022-01-24</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>JPMorgan Chase &amp; Co.</name>
        <lei>8I5DZWZKVSZI1NUHU748</lei>
        <title>JPMorgan Chase &amp; Co.</title>
        <cusip>46625HRS1</cusip>
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          <isin value="US46625HRS12"/>
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        <balance>379000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-06-15</maturityDt>
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          <annualizedRt>3.20000000</annualizedRt>
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      <invstOrSec>
        <name>Jazz Investments I Ltd.</name>
        <lei>N/A</lei>
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        <cusip>472145AB7</cusip>
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        <balance>1455000.00000000</balance>
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        <invCountry>BM</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Dell International LLC/EMC Corp.</name>
        <lei>N/A</lei>
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        <name>Bayer US Finance LLC</name>
        <lei>54930093Q75GSEM74I71</lei>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>FireEye, Inc.</name>
        <lei>549300E9D2UJUFLLY524</lei>
        <title>FireEye, Inc., Series A, Conv.</title>
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        <fairValLevel>2</fairValLevel>
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              <title>FireEye, Inc.</title>
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        <name>U.S. Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
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      <invstOrSec>
        <name>Kellogg Co.</name>
        <lei>LONOZNOJYIBXOHXWDB86</lei>
        <title>Kellogg Co.</title>
        <cusip>487836108</cusip>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Enterprise Products Operating LLC</name>
        <lei>5493004LGN656HWLDA30</lei>
        <title>Enterprise Products Operating LLC</title>
        <cusip>29379VBQ5</cusip>
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        <balance>686000.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-02-15</maturityDt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Telefonica Emisiones S.A.</name>
        <lei>549300Y5MFC4SW5Z3K71</lei>
        <title>Telefonica Emisiones S.A.</title>
        <cusip>87938WAU7</cusip>
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        <balance>700000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>816696.66000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>Goldman Sachs Group, Inc. (The)</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Johnson &amp; Johnson</name>
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        <fairValLevel>1</fairValLevel>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2048-02-22</maturityDt>
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          <annualizedRt>4.26000000</annualizedRt>
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      <invstOrSec>
        <name>Prudential Financial, Inc.</name>
        <lei>5PRBRS5FEH7NREC8OR45</lei>
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          <isin value="US744320AY89"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Celgene Corp.</name>
        <lei>4SIHMF0MOSTTL8CD0X64</lei>
        <title>Celgene Corp.</title>
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          <isin value="US151020AM68"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-05-15</maturityDt>
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      <invstOrSec>
        <name>Intel Corp.</name>
        <lei>KNX4USFCNGPY45LOCE31</lei>
        <title>Intel Corp.</title>
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          <isin value="US4581401001"/>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BB&amp;T Corp.</name>
        <lei>549300DRQQI75D2JP341</lei>
        <title>BB&amp;T Corp.</title>
        <cusip>054937107</cusip>
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          <isin value="US0549371070"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Voya Financial, Inc.</name>
        <lei>549300T065Z4KJ686G75</lei>
        <title>Voya Financial, Inc.</title>
        <cusip>929089100</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>LifeStorage L.P.</name>
        <lei>N/A</lei>
        <title>LifeStorage L.P.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Royal Dutch Shell PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>Royal Dutch Shell PLC, Class A</title>
        <cusip>G7690A100</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>Cognizant Technology Solutions Corp.</name>
        <lei>5493006IEVQEFQO40L83</lei>
        <title>Cognizant Technology Solutions Corp., Class A</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Euronet Worldwide, Inc.</name>
        <lei>YG3575C4DSHJPA5KET68</lei>
        <title>Euronet Worldwide, Inc.</title>
        <cusip>298736AJ8</cusip>
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              <title>Euronet Worldwide, Inc.</title>
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        <name>Citizens Financial Group, Inc.</name>
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        <name>Electricite de France S.A.</name>
        <lei>549300X3UK4GG3FNMO06</lei>
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        <name>Dow, Inc.</name>
        <lei>5493003S21INSLK2IP73</lei>
        <title>Dow, Inc.</title>
        <cusip>260557103</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Walgreens Boots Alliance, Inc.</name>
        <lei>549300RPTUOIXG4LIH86</lei>
        <title>Walgreens Boots Alliance, Inc.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Charter Communications, Inc.</name>
        <lei>0J0XRGZE3PBRFEZ7MV65</lei>
        <title>Charter Communications, Inc., Class A</title>
        <cusip>16119P108</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Johnson Controls International PLC</name>
        <lei>549300XQ6S1GYKGBL205</lei>
        <title>Johnson Controls International PLC</title>
        <cusip>G51502105</cusip>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>BBVA Bancomer S.A.</name>
        <lei>549300WIWQK5Q9MCUN92</lei>
        <title>BBVA Bancomer S.A.</title>
        <cusip>05533UAD0</cusip>
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        <balance>700000.00000000</balance>
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        <valUSD>736757.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>MX</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <name>Invesco Treasury Portfolio</name>
        <lei>5493004B3TM8ZIDDDC39</lei>
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        <name>Union Pacific Corp.</name>
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        <name>Texas Eastern Transmission L.P.</name>
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        <name>Becton, Dickinson and Co.</name>
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        <name>Mylan N.V.</name>
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        <name>Medtronic, Inc.</name>
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        <name>Capital One Financial Corp.</name>
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        <name>Prudential Financial, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Comcast Corp.</name>
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        <name>Amazon.com, Inc.</name>
        <lei>ZXTILKJKG63JELOEG630</lei>
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        <name>Kingfisher PLC</name>
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        <name>Ford Motor Credit Co. LLC</name>
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        <name>Chevron Corp.</name>
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        <name>Applied Materials, Inc.</name>
        <lei>41BNNE1AFPNAZELZ6K07</lei>
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        <name>U.S. Treasury Notes</name>
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        <name>Oracle Corp.</name>
        <lei>1Z4GXXU7ZHVWFCD8TV52</lei>
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        <name>RealPage, Inc.</name>
        <lei>5493001RSFZX4122A604</lei>
        <title>RealPage, Inc., Conv.</title>
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        <name>Verizon Communications, Inc.</name>
        <lei>2S72QS2UO2OESLG6Y829</lei>
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        <name>Reinsurance Group of America, Inc.</name>
        <lei>LORM1GNEU1DKEW527V90</lei>
        <title>Reinsurance Group of America, Inc.</title>
        <cusip>759351AL3</cusip>
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        <balance>352000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>CSX Corp.</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Viavi Solutions, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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            <dbtSecRefInstrument>
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              <title>Viavi Solutions, Inc.</title>
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            <currencyInfo convRatio="71.72310000" curCd="USD"/>
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      <invstOrSec>
        <name>Hospitality Properties Trust</name>
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          <isin value="US44106MAQ50"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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      <invstOrSec>
        <name>U.S. Treasury Notes</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Notes</title>
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          <isin value="US912828YC87"/>
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        <balance>74289300.00000000</balance>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2021-08-31</maturityDt>
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      <invstOrSec>
        <name>Medtronic, Inc.</name>
        <lei>D56MRZY2INAN94ZONZ37</lei>
        <title>Medtronic, Inc.</title>
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          <isin value="US585055BT26"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.37500000</annualizedRt>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-11-15</maturityDt>
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          <annualizedRt>3.60000000</annualizedRt>
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      <invstOrSec>
        <name>Wright Medical Group, Inc.</name>
        <lei>549300DZPB0KY882P769</lei>
        <title>Wright Medical Group, Inc., Conv.</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-06-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.62500000</annualizedRt>
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      <invstOrSec>
        <name>Orange S.A.</name>
        <lei>969500MCOONR8990S771</lei>
        <title>Orange S.A.</title>
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          <isin value="US685218AC36"/>
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        <assetCat>DBT</assetCat>
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        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2019-11-03</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.62500000</annualizedRt>
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        <name>U.S. Treasury Bonds</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810QC5</cusip>
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          <isin value="US912810QC53"/>
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        <balance>36400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>51817.39000000</valUSD>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <name>Basell Finance Co. B.V.</name>
        <lei>549300BBGA3CFHX0KS75</lei>
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          <isin value="US61238QAA67"/>
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        <balance>678000.00000000</balance>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-03-15</maturityDt>
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          <annualizedRt>8.10000000</annualizedRt>
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      <invstOrSec>
        <name>BAE Systems Holdings, Inc.</name>
        <lei>MF62XBVMNYTYMC18DL76</lei>
        <title>BAE Systems Holdings, Inc.</title>
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          <isin value="US05523UAM27"/>
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        <invCountry>US</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-12-15</maturityDt>
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          <annualizedRt>2.85000000</annualizedRt>
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      <invstOrSec>
        <name>Citizens Financial Group, Inc.</name>
        <lei>2138004JDDA4ZQUPFW65</lei>
        <title>Citizens Financial Group, Inc.</title>
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        <balance>415000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>416168.30000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-07-28</maturityDt>
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          <annualizedRt>2.37500000</annualizedRt>
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        <name>Microchip Technology, Inc.</name>
        <lei>5493007PTFULNYZJ1R12</lei>
        <title>Microchip Technology, Inc., Conv.</title>
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        <balance>1983000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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              <title>Microchip Technology, Inc.</title>
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        <name>Anheuser-Busch Cos. LLC / Anheuser-Busch InBev Worldwide, Inc.</name>
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        <name>Sumitomo Mitsui Banking Corp.</name>
        <lei>5U0XI89JRFVHWIBS4F54</lei>
        <title>Sumitomo Mitsui Banking Corp.</title>
        <cusip>865622BV5</cusip>
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          <isin value="US865622BV55"/>
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        <balance>715000.00000000</balance>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-07-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.65000000</annualizedRt>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>General Motors Co.</name>
        <lei>54930070NSV60J38I987</lei>
        <title>General Motors Co.</title>
        <cusip>37045V100</cusip>
        <identifiers>
          <isin value="US37045V1008"/>
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        <balance>586873.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>21996000.04000000</valUSD>
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        <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>Apple, Inc.</name>
        <lei>HWUPKR0MPOU8FGXBT394</lei>
        <title>Apple, Inc.</title>
        <cusip>037833AY6</cusip>
        <identifiers>
          <isin value="US037833AY62"/>
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        <balance>652000.00000000</balance>
        <units>PA</units>
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        <name>Precision Castparts Corp.</name>
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        <name>Citigroup, Inc.</name>
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        <name>Pfizer, Inc.</name>
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        <name>Invesco Liquid Assets Portfolio</name>
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        <name>Heineken N.V.</name>
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        <name>FedEx Corp.</name>
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        <name>United Airlines Pass Through Trust</name>
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        <name>QUALCOMM, Inc.</name>
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        <name>CBS Corp.</name>
        <lei>5KYC8KF17ROCY24M3H09</lei>
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        <name>JPMorgan Chase &amp; Co.</name>
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        <name>Credit Suisse Group AG</name>
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        <name>Nuance Communications, Inc.</name>
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        <name>CVS Health Corp.</name>
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        <name>Credit Suisse AG</name>
        <lei>ANGGYXNX0JLX3X63JN86</lei>
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              <title>Credit Suisse AG</title>
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      <invstOrSec>
        <name>Convertible Trust - Healthcare</name>
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        <title>Convertible Trust - Healthcare, Series 2018-1</title>
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        <invCountry>US</invCountry>
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        <name>Morgan Stanley</name>
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        <name>U.S. Bancorp</name>
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        <name>Societe Generale S.A.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sanofi</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Sunoco Logistics Partners Operations L.P.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Citigroup, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2044-05-06</maturityDt>
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          <annualizedRt>5.30000000</annualizedRt>
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      <invstOrSec>
        <name>Citigroup, Inc.</name>
        <lei>6SHGI4ZSSLCXXQSBB395</lei>
        <title>Citigroup, Inc.</title>
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        <valUSD>397999.40000000</valUSD>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2046-05-18</maturityDt>
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          <annualizedRt>4.75000000</annualizedRt>
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        <name>Canadian Natural Resources Ltd.</name>
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        <title>Canadian Natural Resources Ltd.</title>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Metropolitan Life Global Funding I</name>
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        <title>Metropolitan Life Global Funding I</title>
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        <balance>590000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>590169.04000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2020-06-12</maturityDt>
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          <annualizedRt>2.05000000</annualizedRt>
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        <name>Chesapeake Energy Corp.</name>
        <lei>X2MT1W32SPAZ9WSKLE78</lei>
        <title>Chesapeake Energy Corp., Conv.</title>
        <cusip>165167CY1</cusip>
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        <balance>948000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Becton, Dickinson and Co.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Vodafone Group PLC</name>
        <lei>213800TB53ELEUKM7Q61</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>ON Semiconductor Corp.</name>
        <lei>ZV20P4CNJVT8V1ZGJ064</lei>
        <title>ON Semiconductor Corp., Conv.</title>
        <cusip>682189AK1</cusip>
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        <fairValLevel>2</fairValLevel>
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              <title>ON Semiconductor Corp.</title>
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        <name>UnitedHealth Group, Inc.</name>
        <lei>549300GHBMY8T5GXDE41</lei>
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        <name>Ventas Realty L.P.</name>
        <lei>32SXKSJ72K64GM3HOU64</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>Athene Global Funding</name>
        <lei>549300LM1QSI4MSIL320</lei>
        <title>Athene Global Funding</title>
        <cusip>04685A2J9</cusip>
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        <balance>260000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-06-25</maturityDt>
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          <annualizedRt>2.75000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>CVS Health Corp.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Occidental Petroleum Corp.</name>
        <lei>IM7X0T3ECJW4C1T7ON55</lei>
        <title>Occidental Petroleum Corp.</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>AbbVie, Inc.</name>
        <lei>FR5LCKFTG8054YNNRU85</lei>
        <title>AbbVie, Inc.</title>
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        <curCd>USD</curCd>
        <valUSD>708300.03000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2035-05-14</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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      <invstOrSec>
        <name>Cree, Inc.</name>
        <lei>549300OGU88P3AW3TO93</lei>
        <title>Cree, Inc., Conv.</title>
        <cusip>225447AB7</cusip>
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          <isin value="US225447AB76"/>
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        <balance>3209000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2023-09-01</maturityDt>
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          <annualizedRt>0.87500000</annualizedRt>
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            <dbtSecRefInstrument>
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      <invstOrSec>
        <name>AT&amp;T, Inc.</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>3.40000000</annualizedRt>
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      <invstOrSec>
        <name>Georgia Power Co.</name>
        <lei>D981X4Z4RWS7PDMJUZ03</lei>
        <title>Georgia Power Co.</title>
        <cusip>373334KG5</cusip>
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        <curCd>USD</curCd>
        <valUSD>1895330.11000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2020-03-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>Liberty Media Corp.</name>
        <lei>N/A</lei>
        <title>Liberty Media Corp., Liberty Formula One, Conv.</title>
        <cusip>531229AF9</cusip>
        <identifiers>
          <isin value="US531229AF93"/>
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        <balance>520000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>652511.20000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-01-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
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          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Liberty Media Corp-Liberty Formula One</name>
              <title>Liberty Media Corp.-Liberty Formula One</title>
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          <currencyInfos>
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      <invstOrSec>
        <name>Philip Morris International, Inc.</name>
        <lei>HL3H1H2BGXWVG3BSWR90</lei>
        <title>Philip Morris International, Inc.</title>
        <cusip>718172BD0</cusip>
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          <isin value="US718172BD03"/>
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        <balance>1102000.00000000</balance>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.87500000</annualizedRt>
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      <invstOrSec>
        <name>Union Pacific Corp.</name>
        <lei>549300LMMRSZZCZ8CL11</lei>
        <title>Union Pacific Corp.</title>
        <cusip>907818DR6</cusip>
        <identifiers>
          <isin value="US907818DR61"/>
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        <balance>92000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.64600000</annualizedRt>
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        <name>Zoetis, Inc.</name>
        <lei>549300HD9Q1LOC9KLJ48</lei>
        <title>Zoetis, Inc.</title>
        <cusip>98978VAH6</cusip>
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        <balance>333000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2043-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.70000000</annualizedRt>
          <isDefault>N</isDefault>
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      <invstOrSec>
        <name>BioMarin Pharmaceutical, Inc.</name>
        <lei>NSLL8ITTRR0J5HEMR848</lei>
        <title>BioMarin Pharmaceutical, Inc., Conv.</title>
        <cusip>09061GAF8</cusip>
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        <balance>2172000.00000000</balance>
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        <valUSD>2242233.75000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <annualizedRt>1.50000000</annualizedRt>
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              <title>BioMarin Pharmaceutical, Inc.</title>
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      <invstOrSec>
        <name>Carlyle Holdings Finance LLC</name>
        <lei>N/A</lei>
        <title>Carlyle Holdings Finance LLC</title>
        <cusip>14309UAA0</cusip>
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          <isin value="US14309UAA07"/>
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        <balance>98000.00000000</balance>
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        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
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      <invstOrSec>
        <name>Exelon Corp.</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>Exelon Corp.</title>
        <cusip>30161N101</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Corteva, Inc.</name>
        <lei>549300WZN9I2QKLS0O94</lei>
        <title>Corteva, Inc.</title>
        <cusip>22052L104</cusip>
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        <balance>263780.00000000</balance>
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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>NXP Semiconductors NV</name>
        <lei>724500M9BY5293JDF951</lei>
        <title>NXP Semiconductors NV</title>
        <cusip>N6596X109</cusip>
        <identifiers>
          <isin value="NL0009538784"/>
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        <balance>50000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5456000.00000000</valUSD>
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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>MPLX L.P.</name>
        <lei>5493000CZJ19CK4P3G36</lei>
        <title>MPLX L.P.</title>
        <cusip>55336VAM2</cusip>
        <identifiers>
          <isin value="US55336VAM28"/>
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        <balance>799000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>830018.63000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-04-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.50000000</annualizedRt>
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        <securityLending>
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      <invstOrSec>
        <name>HCP, Inc.</name>
        <lei>PZ9HF5U52KPF0MH0QN75</lei>
        <title>HCP, Inc.</title>
        <cusip>40414LAL3</cusip>
        <identifiers>
          <isin value="US40414LAL36"/>
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        <balance>461000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>491421.01000000</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>2024-08-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Ctrip.com International, Ltd.</name>
        <lei>2549004RMYDSRQL4KW41</lei>
        <title>Ctrip.com International, Ltd., Conv.</title>
        <cusip>22943FAM2</cusip>
        <identifiers>
          <isin value="US22943FAM23"/>
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        <balance>2721000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2717094.77000000</valUSD>
        <pctVal>0.216227683590</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.25000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Ctrip.com International Ltd</name>
              <title>Ctrip.com International, Ltd.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="22943F100"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="15.26880000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Bank of America Corp.</name>
        <lei>9DJT3UXIJIZJI4WXO774</lei>
        <title>Bank of America Corp.</title>
        <cusip>06051GGA1</cusip>
        <identifiers>
          <isin value="US06051GGA13"/>
        </identifiers>
        <balance>515000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>535830.26000000</valUSD>
        <pctVal>0.042641624869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2027-10-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.24800000</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>Energy Transfer Operating L.P.</name>
        <lei>5493008K8W3OKZE54J59</lei>
        <title>Energy Transfer Operating L.P.</title>
        <cusip>29278NAC7</cusip>
        <identifiers>
          <isin value="US29278NAC74"/>
        </identifiers>
        <balance>1722000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1812763.38000000</valUSD>
        <pctVal>0.144260564954</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-09-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.20000000</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>Anthem, Inc.</name>
        <lei>8MYN82XMYQH89CTMTH67</lei>
        <title>Anthem, Inc.</title>
        <cusip>036752103</cusip>
        <identifiers>
          <isin value="US0367521038"/>
        </identifiers>
        <balance>29624.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7112722.40000000</valUSD>
        <pctVal>0.566033804031</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>Nuance Communications, Inc.</name>
        <lei>AEMSOT3SS15TNMJCE605</lei>
        <title>Nuance Communications, Inc., Conv.</title>
        <cusip>67020YAK6</cusip>
        <identifiers>
          <isin value="US67020YAK64"/>
        </identifiers>
        <balance>2458000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2335100.00000000</valUSD>
        <pctVal>0.185828359587</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-12-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Nuance Communications Inc</name>
              <title>Nuance Communications, Inc.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="67020Y100"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="36.73600000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Liberty Latin America Ltd.</name>
        <lei>213800YWQHEAX7CAVO83</lei>
        <title>Liberty Latin America Ltd., Conv.</title>
        <cusip>53069QAA7</cusip>
        <identifiers>
          <isin value="US53069QAA76"/>
        </identifiers>
        <balance>2431000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2433755.81000000</valUSD>
        <pctVal>0.193679435488</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BM</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Liberty Latin America Ltd</name>
              <title>Liberty Latin America Ltd.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="G9001E128"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="44.97670000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Broadcom Corp./Broadcom Cayman Finance Ltd.</name>
        <lei>N/A</lei>
        <title>Broadcom Corp./Broadcom Cayman Finance Ltd.</title>
        <cusip>11134LAF6</cusip>
        <identifiers>
          <isin value="US11134LAF67"/>
        </identifiers>
        <balance>610000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>624527.00000000</valUSD>
        <pctVal>0.049700153281</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-01-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.62500000</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>Convertible Trust - Energy</name>
        <lei>N/A</lei>
        <title>Convertible Trust - Energy, Series 2019-1</title>
        <cusip>21257DAA5</cusip>
        <identifiers>
          <isin value="US21257DAA54"/>
        </identifiers>
        <balance>5688000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5787540.00000000</valUSD>
        <pctVal>0.460575163482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-09-19</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>0.33000000</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>ANZ New Zealand (Int'l) Ltd.</name>
        <lei>213800VD256NU2D97H12</lei>
        <title>ANZ New Zealand (Int'l) Ltd.</title>
        <cusip>00182EBC2</cusip>
        <identifiers>
          <isin value="US00182EBC21"/>
        </identifiers>
        <balance>350000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>355638.50000000</valUSD>
        <pctVal>0.028301879603</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NZ</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-01-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.87500000</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>Kraft Heinz Foods Co.</name>
        <lei>5493003STKEZ2S0RNU91</lei>
        <title>Kraft Heinz Foods Co.</title>
        <cusip>50077LAW6</cusip>
        <identifiers>
          <isin value="US50077LAW63"/>
        </identifiers>
        <balance>525000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>528670.77000000</valUSD>
        <pctVal>0.042071869277</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.62500000</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>Western Digital Corp.</name>
        <lei>549300QQXOOYEF89IC56</lei>
        <title>Western Digital Corp., Conv.</title>
        <cusip>958102AP0</cusip>
        <identifiers>
          <isin value="US958102AP07"/>
        </identifiers>
        <balance>1916000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>1844150.00000000</valUSD>
        <pctVal>0.146758326981</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>1.50000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
          <isMandatoryConvrtbl>Y</isMandatoryConvrtbl>
          <isContngtConvrtbl>N</isContngtConvrtbl>
          <dbtSecRefInstruments>
            <dbtSecRefInstrument>
              <name>Western Digital Corp</name>
              <title>Western Digital Corp.</title>
              <curCd>USD</curCd>
              <identifiers>
                <cusip value="958102105"/>
              </identifiers>
            </dbtSecRefInstrument>
          </dbtSecRefInstruments>
          <currencyInfos>
            <currencyInfo convRatio="8.20260000" curCd="USD"/>
          </currencyInfos>
          <delta>XXXX</delta>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>General Dynamics Corp.</name>
        <lei>9C1X8XOOTYY2FNYTVH06</lei>
        <title>General Dynamics Corp.</title>
        <cusip>369550108</cusip>
        <identifiers>
          <isin value="US3695501086"/>
        </identifiers>
        <balance>98773.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>18048790.29000000</valUSD>
        <pctVal>1.436331245827</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>AT&amp;T, Inc.</name>
        <lei>549300Z40J86GGSTL398</lei>
        <title>AT&amp;T, Inc.</title>
        <cusip>00206RCM2</cusip>
        <identifiers>
          <isin value="US00206RCM25"/>
        </identifiers>
        <balance>474000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>484209.34000000</valUSD>
        <pctVal>0.038533607703</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-30</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2019-11-29</ncom:dateSigned>
      <ncom:nameOfApplicant>AIM Variable Insurance Funds (Invesco Variable Insurance Funds)</ncom:nameOfApplicant>
      <ncom:signature>Sheri Morris</ncom:signature>
      <ncom:signerName>Sheri Morris</ncom:signerName>
      <ncom:title>President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
