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       T R O U B L E D   C O M P A N Y   R E P O R T E R

                          E U R O P E

          Monday, November 2, 2020, Vol. 21, No. 219

                           Headlines



C R O A T I A

HRVATSKA ELEKTROPRIVREDA: S&P Revises Outlook to Positive


F R A N C E

VEOLIA ENVIRONNEMENT: Fitch Rates EUR850MM Sub. Notes BB+


G E R M A N Y

HEIDELBERGER DRUCKMASCHINEN: S&P Withdraws 'B-' LongTerm ICR
HORNBACH BAUMARKT: Moody's Withdraws Ba3 Corp. Family Rating


I R E L A N D

HAYFIN EMERALD V: Moody's Gives (P)Ba3 Rating to Class E Notes
HAYFIN EMERALD V: S&P Assigns Prelim. BB-(sf) Rating on Cl. E Notes
PENTA CLO 8: Moody's Assigns (P)B3 Rating on EUR7MM Cl. F Notes


I T A L Y

BANCA CARIGE: Moody's Alters Outlook on Caa2 Issuer Ratings to Pos.
NEXI SPA: Fitch Puts BB- IDR on Rating Watch Pos. on SIA SpA Deal
PATRIMONIO UNO: Fitch Lowers Rating on 3 Tranches to Bsf


K A Z A K H S T A N

SB ALFA-BANK: S&P Affirms 'BB-/B' ICRs on Improved Capital Buffers


L U X E M B O U R G

HELIX HOLDCO: Moody's Assigns Caa2 CFR, Outlook Stable


N E T H E R L A N D S

SELECTA GROUP: Moody's Raises CFR to Caa1, Outlook Negative


R U S S I A

GAZPROM PJSC : Fitch Rates US$1.4BB Subordinated Debt 'BB+'


T U R K E Y

ULKER BISKUVI: Fitch Assigns 'BB-' IDR, Outlook Negative


U N I T E D   K I N G D O M

ASTON MARTIN: Moody's Rates New First Lien Notes Due 2025 'Caa1'
BRENTWOOD LEISURE: Ceases Trading, Leisure Centre Shut Down
BUSABA: Majority of Creditors Back Company Voluntary Arrangement
CAFFE NERO: Landlord Lodges Claim for GBP135,389 Unpaid Rent
CENTRAL NOTTINGHAMSHIRE HOSPITALS: S&P Cuts SPUR on Bonds to 'BB'

DELTIC GROUP: Seeks Buyer to Avert Bankruptcy, CVA Among Options
PIZZAEXPRESS: To Cut Another 1,300 Jobs Across 370 UK Restaurants
TASTY: Reports GBP11MM Post-Tax Losses, Hopes to Avert CVA
[*] UK: Coach Companies May Face Collapse, Seek Government Help


X X X X X X X X

[*] BOND PRICING: For the Week October 26 to October 30, 2020

                           - - - - -


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C R O A T I A
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HRVATSKA ELEKTROPRIVREDA: S&P Revises Outlook to Positive
---------------------------------------------------------
S&P Global Ratings revised its outlook on Hrvatska Elektroprivreda
d.d. (HEP) to positive from stable and affirmed its 'BB+' long-term
issuer credit and issue ratings on the utility.

S&P bases the outlook revision on HEP's solid financial performance
and points to potential decline in cash flow volatility captured in
the rating.

S&P said, "Historically, the rating has been constrained by our
view that the company's business entails an inherent degree of
volatility because significant fluctuations in hydro generation
(total hydro generation has been 4-8 terawatt-hours [TWh] per year
in the past 20 years). When hydro conditions are poor, the company
compensates with its 1,060 megawatts (MW) of installed thermal
capacity or international electricity procurement, which on a
typical year represents 30%-35% of HEP's electricity sales. This
exposes the utility to volatility in prices for imported power,
gas, and carbon emissions. However, the company has consistently
delivered on its strategic plan and demonstrated robust credit
metrics, including FFO to debt above 100% in three years with
below-average hydrological conditions (2015, 2017 and our
expectation for 2020; see chart). In our view, this indicates that
HEP is structurally improving its risk management and the
volatility we still capture in the rating is likely declining."

In S&P's view, HEP's risk management policy is evolving favorably.

Until 2020, the company manages its exposure to electricity, gas,
and emission allowance prices by hedging about 60% of its volume
every year. In contrast, European peers typically hedge on
multiyear contracts, which provides greater cash flow stability for
longer. Starting in 2021, HEP will use its access to the
Intercontinental Exchange to increase the use of multiyear
financial hedging strategies, and lock sales positions for multiple
years. S&P sees this is an important positive development in the
utility's risk management policy, which should reduce earnings
volatility.

S&P expects HEP to deliver a solid financial performance in 2020
despite COVID-19; 2021 performance will depend on the post-pandemic
macroeconomic recovery.

Despite S&P's expectation of 8% GDP decline in Croatia in 2020 and
6% decline in the country's electricity consumption, it expects
HEP's EBITDA to remain resilient in 2020, for three main reasons:

-- The utility generates 35%-40% less electricity than it sells,
and power prices at domestic market adapt with a lag to
international prices, leading to a positive difference between
procurement costs and price of sold electricity.

-- Because clean spark spreads have been favorable for most part
of 2020, HEP used its combined-cycle gas turbine (CCGT) plants to
compensate for poor hydro conditions. Also, S&P expects about 500
million Croatian kuna (HRK) in working capital release from reduced
gas inventory.

-- Of HEP's EBITDA, 40%-45% comes from relatively stable regulated
distribution and transmission activities.

S&P said, "HEP's customers are mostly residential and in 2020 will
benefit from government support measures in place due to the
pandemic (such as job preservation mechanisms), so we don't expect
major increase in bad debt provisions this year. We also expect
sound financial performance in 2021, but believe that the expected
increase in power prices, gas prices and electricity demand could
affect purchase costs and put the company's evolving commodity
price management policies to the test." Also, a prolonged pandemic
that hurts the tourism sector (which provides about 14% of
Croatia's GDP), or a slower macroeconomic recovery, could affect
receivable collections.

HEP's sizable capex should result in negative FOCF, but it should
improve the utility's environmental footprint and will be partly
covered with EU grants.

S&P said, "We expect HEP's capex to peak at HRK5.1 billion in 2020
and remain elevated at about HRK 4 billion in 2021-2022, leading to
negative FOCF. Still, we expect capex to be largely funded with the
company's cash balances and EU grants, and therefore leverage to
stay manageable. The largest projects include grids, Kosinj/Senj
Hydropower Plant, the Korlat wind farm, the EL-TO Zagreb CCGT
plant, and the liquefied natural gas (LNG) terminal. We expect only
marginal EBITDA contribution from the LNG terminal, but the project
is strategic for Croatia and the EU. Therefore, of the HRK1.7
billion total cost for the LNG terminal (including HRK918 million
to be invested in 2020), almost 90% will be covered with EU grants
(HRK760 million) and state grants (HRK750 million). HEP's strategy
of investments in grids and renewables is aligned to the Croatian
government ambition to increase renewables share of gross final
energy consumption to 36.4% by 2030 from 26% in 2018. The Croatian
regulator will start a series of tenders for new renewable capacity
in 2021, which will be entitled to market premiums. We expect the
utility to participate in these projects, which could provide a
predictable source of cash flows as the group deploys this
infrastructure.

"We expect the Croatian government to continue supporting HEP's
credit quality throughout the pandemic.

"The utility's sole shareholder is Croatia. Historically, the
government has supported the company's financial robustness. This
has been demonstrated through lower dividend distributions
following less profitable years. We believe that HEP plays an
important role for the country's economy and is essential for
achieving the government's climate goals. We therefore expect the
company's dividend policy to continue allowing the utility to
accumulate and reinvest earnings. We observe this, for example, in
the company's metrics over 2020 and 2021, as HEP will finance capex
largely with its own accumulated cash, and dividends remain
consistent with historical payout ratios of 50%-60% of the previous
year's net income."

Outlook

S&P said, "The positive outlook reflects our view that we could
raise our 'BB+' rating on HEP to 'BBB-' over the next 12-24 months
if the company continues to post FFO to debt above 45% and debt to
EBITDA below 3x, and demonstrate prudent risk management amid the
economic uncertainty, particularly when electricity sales volumes
increase and prices for electricity imports recover. The company's
execution of its strategic plan and loss reduction at its
unprofitable heating and wholesale gas businesses would also
contribute to an upgrade. Another important factor we will monitor
is whether HEP has a clear refinancing plan for its $550 million
5.875% notes due in October 2022.

"We expect HEP's performance will remain resilient during the
pandemic-induced economic downturn, because lower procurement costs
and relatively stable electricity prices at its home market will
favor profitability; and because we don't expect major bad debt
provisions, given government support policies."

S&P could also upgrade HEP following a similar action to Croatia.

S&P could revise the outlook to stable if HEP's earnings
substantially weaken despite its risk management efforts, for
example, if the company's 2020-2021 earnings are hit by increasing
international power prices, or poor hydrological conditions coupled
with high gas prices and carbon dioxide prices.

Another factor that would likely lead to a stable outlook is the
increase in dividend payments to the government beyond historical
payout ratio of about 50% of net income, as this would likely go in
detriment of HEP's available resources to fund projects and hence
would increase its debt. S&P doesn't see this as likely despite the
utility's dividend distribution being decided yearly and despite
the macroeconomic context, because it sees the government as
supportive of HEP's projects and financial resiliency.

S&P would also revise the outlook to stable in the event of a
sovereign downgrade, because it caps the rating on the utility at
that of the sovereign.




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F R A N C E
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VEOLIA ENVIRONNEMENT: Fitch Rates EUR850MM Sub. Notes BB+
---------------------------------------------------------
Fitch Ratings has assigned Veolia Environnement's (BBB/Stable)
EUR850 million undated non-call 5.5 year and EUR1,150 million
undated non-call 8.5 year deeply subordinated fixed-rate resettable
notes a rating of 'BB+'. The securities qualify for 50% equity
credit.

The hybrid notes are deeply subordinated and rank senior only to
Veolia's share capital, while coupon payments can be deferred at
the option of the issuer. These features are reflected in the 'BB+'
rating, which is two notches lower than Veolia's senior unsecured
rating. The 50% equity credit reflects the hybrid's cumulative
interest coupon, a feature that is more debt-like in nature.

The hybrid notes proceeds will be used to refinance the acquisition
of 29.9% of Suez S.A. shares from Engie S.A. (A/Negative), which
was announced on October 5, 2020 and pre-funded from the group's
own resources.

The hybrid rating and assignment of equity credit are based on
Fitch's hybrids methodology, "Corporate Hybrids Treatment and
Notching Criteria", November 2019.

KEY RATING DRIVERS

HYBRID NOTES

Ratings Reflect Deep Subordination: The notes are rated two notches
below Veolia's senior unsecured rating of 'BBB', given their deep
subordination and consequently, lower recovery prospects relative
to senior obligations in a liquidation or bankruptcy. The notes
rank senior only to the claims of equity shareholders. Fitch
believes that in conjunction with the acquisition of the initial
29.9% Suez stake and planned public tender offer, Veolia intends to
maintain hybrids in the capital structure, and Fitch therefore
applies the 50% equity content to the total amount of EUR2 billion
of new hybrid notes.

Equity Treatment: The securities will qualify for 50% equity credit
as they meet Fitch's criteria with regard to deep subordination,
remaining effective maturity of at least five years, full
discretion to defer coupons for at least five years and limited
events of default. These are key equity-like characteristics,
affording Veolia financial flexibility. Equity credit is limited to
50% given the cumulative interest coupon, a feature that is more
debt-like in nature.

Effective Maturity Date: While the proposed hybrid is perpetual,
Fitch currently deems the second coupon step-up date (April 20,
2046 for the EUR850 million notes and April 20, 2049 for the
EUR1,150 million notes) as the effective maturity date. From this
date, the coupon step-up is within Fitch's aggregate threshold rate
of 100bp, but the issuer will no longer be subject to replacement
language, which discloses the company's intent to redeem the
instrument at its call date with the proceeds of a similar
instrument or with equity. According to Fitch's criteria, the
equity credit of 50% would change to 0% five years before the
effective maturity date.

Cumulative Coupon Limits Equity Treatment: The coupon deferrals are
cumulative, which result in 50% equity treatment and 50% debt
treatment of the hybrid notes by Fitch. Despite the 50% equity
treatment, Fitch treats coupon payments as 100% interest. Veolia
will be obliged to make a mandatory settlement of deferred interest
payments under certain circumstances, including the declaration of
a cash dividend.

VEOLIA

Remedial Actions Underway: Fitch views the hybrid issue as
management's first timely action to mitigate the negative impact on
leverage rising from the acquisition of the 29.9% stake in Suez.
However, according to its projections the issue only partially
offsets this impact and Fitch estimates funds from operations (FFO)
net leverage (excluding COVID-19 impact) to remain above its
negative rating sensitivity of 4.7x post-transaction. Fitch would
expect management to continue working towards Veolia's target of
3.0x net debt/EBITDA (and thus within its rating sensitivity) to
keep any breach marginal and temporary. Further utilisation of
different funding options as well as fast-tracking remedial actions
remain key to this.

Significant Uncertainties: Having acquired a 29.9% stake in Suez
from Engie for EUR18 per share, or EUR3.4 billion, Veolia intends
to launch a tender offer to buy the remaining shares, subject to
the approval of Suez's board. However, as Suez views Veolia's move
as hostile, such approval is far from certain, in its view.
Additional uncertainties include Veolia's final stake in Suez and
continued remedial actions - factors that would impact its rating
analysis of the post-transaction profile.

Potentially Stronger Business Profile: The combined group would
become the sole world leader in environmental services with widely
diversified operations both across businesses and globally, and
with combined revenues of above EUR40 billion and (Fitch-defined)
EBITDA of around EUR5 billion (assuming disposal of Suez's French
water operations and additional disposals). Disposals, either as
remedial actions or due to anti-trust issues, would likely impact
the final shape of the combined group and Fitch would assess the
business profile and its implications on the debt capacity once
Fitch has more clarity on this, with possible upside to current
levels.

COVID-19 Impacts 1H20: The coronavirus outbreak has heavily
impacted Veolia's operations in 1H20 with revenues down 6.1% at
constant FX and EBITDA down 20% yoy. As expected, the decline has
been more prevalent among industrial clients and construction
activities, whereas municipal activities have been more resilient.
Since June 2020, operations have shown recovery and management is
expecting financial performance to return to normal levels by
year-end with its rating-case assumptions slightly lagging that.

DERIVATION SUMMARY

The 'BBB' rating reflects Veolia's scale and diversification both
by business (mostly contracted and quasi-regulated water and
somewhat higher-risk waste management) and geographical region.
Fitch sees higher debt capacity for Veolia at the same rating than
US peers Waste Management, Inc. (BBB+/Negative) and Republic
Services, Inc. (BBB/Stable), which are solely present in the US
waste industry and thus lack Veolia's diversification.

Veolia's funds from operations (FFO) net leverage is comparable
with those of Italian multi-utilities Acea SpA (BBB+/Stable) and
Iren SpA (BBB/Stable). Acea has the strongest business profile with
earnings dominated by a regulated network business, allowing it a
one-notch higher rating for the same leverage level. FCC Aqualia
S.A. (BB+/Positive) is focused on the contracted water business in
Spain and has significantly higher leverage than Veolia.

KEY ASSUMPTIONS

  - Acquisition of 29.9% stake in Suez for EUR3.4 billion in 2020.
Using the same valuation and an 18-month process for the public
tender, Fitch assumes the remaining shares to be acquired in 2022

  - Hybrid issue completed in October 2020

  - Revenue to fall 5.4% yoy and EBITDA to decline 12% yoy in 2020;
followed by recovery in the following year to 2019 levels and
growing 5% in 2023 with adjusted EBITDA of EUR4.3 billion

  - Total industrial capex of around EUR2 billion for 2020 as
guided by management; maintenance and contractual capex of around
EUR2 billion and growth capex of around EUR600 million per year in
2021-2023, in line with management's new strategic plan for Veolia

  - Disposals of EUR5 billion in 2020-2023, comprising EUR2 billion
and EUR3 billion from Veolia's and Suez's strategic plans
respectively

  - Further use of funding choices with equity component targeting
post-transaction net debt / EBITDA of below 3.0x

  - Dividends of EUR276 million for 2020, reflecting a 50% cut, and
to return to normal levels from 2021 onwards

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

  - Fitch currently sees limited rating upside due to the
contemplated transaction and COVID-19 impact, unless the business
profile strengthens markedly through strategic repositioning or
financial results outperform expectations with sustainable positive
free cash flow (FCF) and FFO net leverage below 4.2x.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

  - FFO net leverage remaining persistently above 4.7x due to
insufficient or significantly delayed remedial actions.

  - A significantly delayed recovery or new widespread and
protracted lockdown measures caused by the coronavirus outbreak
with structural impact on Veolia.

LIQUIDITY AND DEBT STRUCTURE

Solid Liquidity: At June-end 2020, Veolia had total liquidity of
EUR12.1 billion comprising EUR6.7 billion of pooled cash, EUR1.3
billion of cash held by subsidiaries and EUR4.1 billion of undrawn
credit lines. This compares with EUR7.2 billion of short-term
maturities (excl. lease debt), including EUR1.8 billion of bonds,
and EUR4.5 billion of commercial paper. Included in the cash
balance above are EUR1.7 billion of new bonds issued during 1H20.

Liquidity remains satisfactory even when adding EUR3.4 billion cash
outflows for the initial stake in Suez, and the hybrid issue
further strengthens post-transaction liquidity.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

The principal sources of information used in the analysis are
described in the Applicable Criteria.

ESG CONSIDERATIONS

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.




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G E R M A N Y
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HEIDELBERGER DRUCKMASCHINEN: S&P Withdraws 'B-' LongTerm ICR
------------------------------------------------------------
S&P Global Ratings said that it has withdrawn its 'B-' long-term
issuer credit rating on Germany-based printing equipment
manufacturer Heidelberger Druckmaschinen AG (HDM) at the issuer's
request. The withdrawal follows the repayment of HDM's outstanding
EUR150 million 2022 high yield bond. The outlook at the time of
withdrawal was negative.


HORNBACH BAUMARKT: Moody's Withdraws Ba3 Corp. Family Rating
------------------------------------------------------------
Moody's Investors Service has withdrawn the Ba3 corporate family
rating and stable outlook of Hornbach Baumarkt AG. Concurrently,
Moody's has withdrawn Hornbach's Ba3-PD probability of default
rating and the Ba2 rating to the EUR250 million worth of guaranteed
senior unsecured notes due 2026 issued by Hornbach.

RATINGS RATIONALE

Moody's has decided to withdraw the ratings for its own business
reasons.

Hornbach is a mid-sized home improvement retailer mainly operating
in Germany, with 96 stores as of the end of fiscal 2019, and other
European countries, including Austria (14), the Netherlands (15),
the Czech Republic (10), Switzerland (7), Romania (6) Sweden (7),
Slovakia (4) and Luxembourg (1). The company reported sales of
EUR4.4 billion as of the end of fiscal 2019.



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I R E L A N D
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HAYFIN EMERALD V: Moody's Gives (P)Ba3 Rating to Class E Notes
--------------------------------------------------------------
Moody's Investors Service announced that it has assigned the
following provisional ratings to notes to be issued by Hayfin
Emerald CLO V DAC:

EUR208,300,000 Class A Senior Secured Floating Rate Notes due 2032,
Assigned (P)Aaa (sf)

EUR24,500,000 Class B-1 Senior Secured Floating Rate Notes due
2032, Assigned (P)Aa2 (sf)

EUR7,000,000 Class B-2 Senior Secured Fixed Rate Notes due 2032,
Assigned (P)Aa2 (sf)

EUR21,000,000 Class C Senior Secured Deferrable Floating Rate Notes
due 2032, Assigned (P)A2 (sf)

EUR25,600,000 Class D Senior Secured Deferrable Floating Rate Notes
due 2032, Assigned (P)Baa3 (sf)

EUR24,200,000 Class E Senior Secured Deferrable Floating Rate Notes
due 2032, Assigned (P)Ba3 (sf)

RATINGS RATIONALE

The rationale for the ratings is based on a consideration of the
risks associated with the CLO's portfolio and structure as
described in its methodology. The Issuer is a managed cash flow
CLO. At least 90% of the portfolio must consist of senior secured
obligations and up to 10% of the portfolio may consist of unsecured
senior obligations, second lien loans, mezzanine obligations and/or
high yield bonds. The portfolio is expected to be 80% ramped as of
the closing date and to comprise of predominantly corporate loans
to obligors domiciled in Western Europe. The remainder of the
portfolio will be acquired four to six weeks following the closing
date, in compliance with the portfolio guidelines.

Hayfin Emerald Management LLP will manage the CLO. It will direct
the selection, acquisition and disposition of collateral on behalf
of the Issuer and may engage in trading activity, including
discretionary trading, during the transaction's three-year
reinvestment period. Thereafter, subject to certain restrictions,
purchases are permitted using principal proceeds from unscheduled
principal payments and proceeds from sales of credit risk
obligations or credit improved obligations.

In addition to the six classes of notes rated by Moody's, the
Issuer will issue EUR 35,000,000 Subordinated Notes due 2032 which
are not rated. The transaction incorporates interest and par
coverage tests which, if triggered, divert interest and principal
proceeds to pay down the notes in order of seniority.

The coronavirus outbreak, the government measures put in place to
contain it, and the weak global economic outlook continue to
disrupt economies and credit markets across sectors and regions.
Its analysis has considered the effect on the performance of
corporate assets from the current weak European economic activity
and a gradual recovery for the coming months. Although an economic
recovery is underway, it is tenuous and its continuation will be
closely tied to containment of the virus. As a result, the degree
of uncertainty around its forecasts is unusually high.

Moody's regards the coronavirus outbreak as a social risk under its
ESG framework, given the substantial implications for public health
and safety.

Methodology underlying the rating action:

The principal methodology used in these ratings was "Moody's Global
Approach to Rating Collateralized Loan Obligations" published in
August 2020.

Factors that would lead to an upgrade or downgrade of the ratings:

The rated notes' performance is subject to uncertainty. The notes'
performance is sensitive to the performance of the underlying
portfolio, which in turn depends on economic and credit conditions
that may change. The collateral manager's investment decisions and
management of the transaction will also affect the notes'
performance.

Moody's modeled the transaction using a cash flow model based on
the Binomial Expansion Technique, as described in Section 2.3 of
the "Moody's Global Approach to Rating Collateralized Loan
Obligations" rating methodology published in August 2020.

Moody's used the following base-case modeling assumptions:

Par Amount: EUR 350m

Diversity Score: 48

Weighted Average Rating Factor (WARF): 3250

Weighted Average Spread (WAS): 3.79%

Weighted Average Recovery Rate (WARR): 42%

Weighted Average Life (WAL): 8 years

Moody's has addressed the potential exposure to obligors domiciled
in countries with local currency ceiling (LCC) of A1 or below. As
per the portfolio constraints and eligibility criteria, exposures
to countries with LCC of A1 or below cannot exceed 10% and obligors
that are domiciled in countries with LCC below A3 cannot be
purchased.


HAYFIN EMERALD V: S&P Assigns Prelim. BB-(sf) Rating on Cl. E Notes
-------------------------------------------------------------------
S&P Global Ratings assigned its preliminary credit ratings to
Hayfin Emerald CLO V DAC's class A, B-1, B-2, C, D, and E notes. At
closing, the issuer will also issue unrated subordinated notes.

Under the transaction documents, the rated notes will pay quarterly
interest unless there is a frequency switch event. Following this,
the notes will switch to semiannual payment.

The portfolio's reinvestment period will end approximately three
years after closing, and the portfolio's weighted-average life test
will be approximately eight years after closing.

The preliminary ratings assigned to the notes reflect S&P's
assessment of:

-- The diversified collateral pool, which consists primarily of
broadly syndicated speculative-grade senior secured term loans and
bonds that are governed by collateral quality tests.

-- The credit enhancement provided through the subordination of
cash flows, excess spread, and overcollateralization (OC).

-- The collateral manager's experienced team, which can affect the
performance of the rated notes through collateral selection,
ongoing portfolio management, and trading.

  Portfolio Benchmarks
                                                        Current
  S&P Global Ratings weighted-average rating factor    2,865.84
  Default rate dispersion                                693.32
  Weighted-average life (years)                            5.19
  Obligor diversity measure                               99.81
  Industry diversity measure                              21.59
  Regional diversity measure                               1.27

  Transaction Key Metrics
                                                        Current
  Total par amount (mil. EUR)                             350.0
  Defaulted assets (mil. EUR)                                 0
  Number of performing obligors                             125
  Portfolio weighted-average rating
    derived from S&P's CDO evaluator                        'B'
  'CCC' category rated assets (%)                          6.86
  'AAA' weighted-average recovery (%)                     34.03
  Covenanted weighted-average spread (%)                   3.79
  Reference weighted-average coupon (%)                    4.00
  
Loss mitigation loan mechanics

Under the transaction documents, the issuer can purchase loss
mitigation loans, which are assets of an existing collateral
obligation held by the issuer offered in connection with the
obligation's bankruptcy, workout, or restructuring, to improve its
recovery value.

The purchase of loss mitigation loans is not subject to the
reinvestment criteria or the eligibility criteria. It receives no
credit in the principal balance definition. The cumulative exposure
to loss mitigation loans is limited to 10% of target par.

The issuer may purchase loss mitigation loans using either interest
proceeds, principal proceeds, or amounts in the collateral
enhancement account. The use of interest proceeds to purchase loss
mitigation loans are subject to (i) all the interest and par
coverage tests passing following the purchase, and (ii) the manager
determining there are sufficient interest proceeds to pay interest
on all the rated notes on the upcoming payment date. The use of
principal proceeds is subject to the transaction passing par
coverage tests and the manager having built sufficient excess par
in the transaction so that the principal collateral amount is equal
to or exceeds the portfolio's target par balance after the
reinvestment.

Rating rationale

S&P said, "Our preliminary ratings reflect our assessment of the
preliminary collateral portfolio's credit quality, which has a
weighted-average rating of 'B'. We consider that the portfolio will
primarily comprise broadly syndicated speculative-grade senior
secured term loans and senior secured bonds. Therefore, we
conducted our credit and cash flow analysis by applying our
criteria for corporate cash flow CDOs.

"In our cash flow analysis, we used the EUR350 million par amount,
the covenanted weighted-average spread of 3.79%, the reference
weighted-average coupon of 4.00%, and the covenanted
weighted-average recovery rates for 'AAA' rated notes. We applied
various cash flow stress scenarios, using four different default
patterns, in conjunction with different interest rate stress
scenarios for each liability rating category.

"We expect that the transaction's documented counterparty
replacement and remedy mechanisms will adequately mitigate its
exposure to counterparty risk under our current counterparty
criteria.

"Following the application of our structured finance sovereign risk
criteria, we consider the transaction's exposure to country risk to
be limited at the assigned preliminary ratings, as the exposure to
individual sovereigns does not exceed the diversification
thresholds outlined in our criteria.

"At closing, we consider that the transaction's legal structure
will be bankruptcy remote, in line with our legal criteria.

"Our credit and cash flow analysis indicate that the available
credit enhancement for the class B-1 to E notes could withstand
stresses commensurate with higher rating levels than those we have
assigned. However, as the CLO is still in its reinvestment phase,
during which the transaction's credit risk profile could
deteriorate, we have capped our assigned ratings on the notes.

"Following our analysis of the credit, cash flow, counterparty,
operational, and legal risks, we believe that our preliminary
ratings are commensurate with the available credit enhancement for
the class A, B-1, B-2, C, D, and E notes.

"In addition to our standard analysis, to provide an indication of
how rising pressures among speculative-grade corporates could
affect our ratings on European CLO transactions, we have also
included the sensitivity of the ratings on the class A to E notes
to five of the 10 hypothetical scenarios we looked at in our recent
publication.

S&P Global Ratings acknowledges a high degree of uncertainty about
the evolution of the coronavirus pandemic. The current consensus
among health experts is that COVID-19 will remain a threat until a
vaccine or effective treatment becomes widely available, which
could be around mid-2021. S&P said, "We are using this assumption
in assessing the economic and credit implications associated with
the pandemic. As the situation evolves, we will update our
assumptions and estimates accordingly."

Hayfin Emerald CLO V is a European cash flow CLO securitization of
a revolving pool, comprising euro-denominated senior secured loans
and bonds issued mainly by speculative-grade borrowers. Hayfin
Emerald Management LLP will manage the transaction.

  Ratings List

  Class   Preliminary Preliminary   Sub (%)   Interest rate*
           rating         amount
                         (mil. EUR)

  A        AAA (sf)      208.30       40.49   Three/six-month
                                              EURIBOR plus 1.10%

  B-1      AA (sf)        24.50       31.49   Three/six-month
                                              EURIBOR plus 1.85%

  B-2      AA (sf)         7.00       31.49     2.10%

  C        A (sf)         21.00       25.49   Three/six-month
                                              EURIBOR plus 3.00%

  D        BBB (sf)       25.60       18.17   Three/six-month
                                              EURIBOR plus 4.50%

  E        BB- (sf)       24.20       11.26   Three/six-month
                                              EURIBOR plus 6.88%

  Sub      NR             35.00       N/A     N/A

* The payment frequency switches to semiannual and the index
switches to six-month EURIBOR when a frequency switch event occurs.

EURIBOR--Euro Interbank Offered Rate.
NR--Not rated.
N/A--Not applicable.


PENTA CLO 8: Moody's Assigns (P)B3 Rating on EUR7MM Cl. F Notes
---------------------------------------------------------------
Moody's Investors Service announced that it has assigned the
following provisional ratings to notes to be issued by Penta CLO 8
Designated Activity Company:

EUR210,000,000 Class A Senior Secured Floating Rate Notes due 2034,
Assigned (P)Aaa (sf)

EUR11,000,000 Class B-1 Senior Secured Floating Rate Notes due
2034, Assigned (P)Aa2 (sf)

EUR22,000,000 Class B-2 Senior Secured Fixed Rate Notes due 2034,
Assigned (P)Aa2 (sf)

EUR28,250,000 Class C Senior Secured Deferrable Floating Rate Notes
due 2034, Assigned (P)A3 (sf)

EUR18,000,000 Class D Senior Secured Deferrable Floating Rate Notes
due 2034, Assigned (P)Baa3 (sf)

EUR22,000,000 Class E Senior Secured Deferrable Floating Rate Notes
due 2034, Assigned (P)Ba3 (sf)

EUR7,000,000 Class F Senior Secured Deferrable Floating Rate Notes
due 2034, Assigned (P)B3 (sf)

RATINGS RATIONALE

The rationale for the ratings is based on a consideration of the
risks associated with the CLO's portfolio and structure as
described in its methodology.

The Issuer is a managed cash flow CLO. At least 92.5% of the
portfolio must consist of senior secured obligations and up to 7.5%
of the portfolio may consist of senior unsecured obligations,
second-lien loans, mezzanine obligations and high yield bonds. The
portfolio is expected to be approximately 90% ramped as of the
closing date and to comprise of predominantly corporate loans to
obligors domiciled in Western Europe. The remainder of the
portfolio will be acquired during the 6-month ramp-up period in
compliance with the portfolio guidelines.

Partners Group (UK) Management Ltd will manage the CLO. It will
direct the selection, acquisition and disposition of collateral on
behalf of the Issuer and may engage in trading activity, including
discretionary trading, during the transaction's three-year
reinvestment period. Thereafter, subject to certain restrictions,
purchases are permitted using principal proceeds from unscheduled
principal payments and proceeds from sales of credit risk
obligations or credit improved obligations.

In addition to the seven classes of notes rated by Moody's, the
Issuer will issue EUR32.7 million of Subordinated Notes which are
not rated.

The transaction incorporates interest and par coverage tests which,
if triggered, divert interest and principal proceeds to pay down
the notes in order of seniority.

The coronavirus outbreak, the government measures put in place to
contain it, and the weak global economic outlook continue to
disrupt economies and credit markets across sectors and regions.
Its analysis has considered the effect on the performance of
corporate assets from the current weak European economic activity
and a gradual recovery for the coming months. Although an economic
recovery is underway, it is tenuous and its continuation will be
closely tied to containment of the virus. As a result, the degree
of uncertainty around its forecasts is unusually high.

Moody's regards the coronavirus outbreak as a social risk under its
ESG framework, given the substantial implications for public health
and safety.

Methodology underlying the rating action:

The principal methodology used in these ratings was "Moody's Global
Approach to Rating Collateralized Loan Obligations" published in
August 2020.

Factors that would lead to an upgrade or downgrade of the ratings:

The rated notes' performance is subject to uncertainty. The notes'
performance is sensitive to the performance of the underlying
portfolio, which in turn depends on economic and credit conditions
that may change. The collateral manager's investment decisions and
management of the transaction will also affect the notes'
performance.

Moody's modeled the transaction using a cash flow model based on
the Binomial Expansion Technique, as described in Section 2.3 of
the "Moody's Global Approach to Rating Collateralized Loan
Obligations" rating methodology published in August 2020.

Moody's used the following base-case modeling assumptions:

Par Amount: EUR 350,000,000

Diversity Score: 40

Weighted Average Rating Factor (WARF): 3100

Weighted Average Spread (WAS): 3.60%

Weighted Average Coupon (WAC): 5.50%

Weighted Average Recovery Rate (WARR): 45.0%

Weighted Average Life (WAL): 8 years

Moody's has addressed the potential exposure to obligors domiciled
in countries with local currency ceiling (LCC) of A1 or below. As
per the portfolio constraints and eligibility criteria, exposures
to countries with LCC of A1 to A3 cannot exceed 10% and obligors
cannot be domiciled in countries with LCC below A3.




=========
I T A L Y
=========

BANCA CARIGE: Moody's Alters Outlook on Caa2 Issuer Ratings to Pos.
-------------------------------------------------------------------
Moody's Investors Service changed the outlook on the long-term
deposit and issuer ratings of Banca Carige S.p.A. to positive from
stable. Moody's affirmed the bank's Baseline Credit Assessment
(BCA) at caa1, the long-term issuer rating at Caa2 and the
long-term deposit rating at Caa1.

RATINGS RATIONALE

The change in outlook on Carige's ratings to positive from stable
primarily reflects the positive developments at the bank since the
end of its temporary administration by the European Central Bank in
January 2020, following which the bank appointed new managers and
embarked upon a restructuring. Carige reported reduced asset risk
and improved, although still vulnerable, capital levels in June
2020, and Moody's expects that the bank will continue with its
restructuring, maintaining relatively low asset risk. However, in
Moody's view major challenges remain in restoring profitability and
rebuilding the bank's commercial and funding franchise.

Carige's asset quality improved significantly in 2020, the bank
having reduced its problem loan ratio to just above 5% from above
9% in January 2020. The decrease primarily followed the disposal of
EUR324 million gross problem loans in September 2020 to state-owned
entity AMCO, which had already bought EUR2.3 billion of Carige's
problem loans earlier in 2020[1] . The reduced problem loan ratio
is slightly better than the Italian system average of 6% in June
2020, although it remains higher than the European Union average of
3% at the same date.

Moody's expects Carige's asset quality to deteriorate in 2021 as
per other Italian banks due to the negative economic impact of the
coronavirus pandemic, but the bank's plans to sell a further EUR100
million problem loans in the first quarter of 2021 should partially
offset this anticipated asset quality deterioration.

Carige's capitalisation was strengthened following the EUR700
million capital increase and the issuance of EUR200 million
subordinated debt in December 2019, and the bank reported a Common
Equity Tier 1 (CET1) ratio of 11.8% and a total capital ratio of
13.8% in June 2020. Although Moody's considers these to be
indicative of sound regulatory capitalisation, the agency
nevertheless still considers Carige's capital to be vulnerable to
adverse developments given its very weak profit generation.

Carige's temporary administration from the European Central Bank
lasted 13 months ending in January 2020 with a net loss of EUR864
million, and in the five months ending June 2020 the bank reported
further EUR98 million net losses. Moody's expects Carige to
continue to be loss-making also in the 11 months ending December
2020, given weak revenue generation relative to the bank's cost
base and high credit losses. Moreover, Carige has some legal
disputes outstanding, including with a minority of the bank's
previous shareholders, which may also present some risk.

Carige's BCA of caa1 continues to incorporate a one-notch negative
adjustment for corporate behavior to reflect the uncertainty
surrounding the bank's strategy and the future stand-alone
viability of its business model.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Carige's BCA could be upgraded if the bank returns to sustainable
profitability, maintains a low level of problem loans and improves
its ability to access funding markets. An upgrade of the BCA could
lead to an upgrade of its long-term ratings. Carige's deposit and
issuer ratings could also be upgraded following a material increase
in the bank's stock of bail-in-able debt.

A downgrade of Carige's BCA is unlikely given the positive outlook.
However, the BCA could be downgraded should the bank incur in
material losses, if there were a major increase in problem loans or
if the bank's liquidity came under pressure. A downgrade in the BCA
would lead to a downgrade of the long-term ratings. The deposit
ratings could also be downgraded following a material reduction in
the volume of junior deposits and the stock of the bank's
bail-in-able debt.

LIST OF AFFECTED RATINGS

Issuer: Banca Carige S.p.A.

Affirmations:

Long-term Counterparty Risk Ratings, affirmed B3

Short-term Counterparty Risk Ratings, affirmed NP

Long-term Bank Deposits, affirmed Caa1, outlook changed to Positive
from Stable

Short-term Bank Deposits, affirmed NP

Long-term Counterparty Risk Assessment, affirmed B2(cr)

Short-term Counterparty Risk Assessment, affirmed NP(cr)

Long-term Issuer Rating, affirmed Caa2, outlook changed to Positive
from Stable

Baseline Credit Assessment, affirmed caa1

Adjusted Baseline Credit Assessment, affirmed caa1

Outlook Action:

Outlook changed to Positive from Stable

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Banks
Methodology published in November 2019.


NEXI SPA: Fitch Puts BB- IDR on Rating Watch Pos. on SIA SpA Deal
-----------------------------------------------------------------
Fitch Ratings has placed Nexi S.p.A.'s Long-Term Issuer Default
Rating (IDR) of 'BB-' and senior unsecured debt rating of 'BB-' on
Rating Watch Positive (RWP).

The RWP on Nexi reflects its announced merger with SIA S.p.A.
(SIA), its main competitor in Italy. The acquisition will be
entirely funded through a share exchange that will see SIA's
shareholders receiving a 30% stake in Nexi's enlarged share
capital, with existing shareholders retaining the other 70%. The
leading shareholder of the new group will be entities related to
Cassa Depositi e Prestiti S.p.A. (CDP). The acquisition is subject
to internal and regulatory approvals, including from EU competition
authorities, and is expected to close over the summer of 2021.

Fitch will resolve the RWP upon the completion of the transaction.
Under the presented terms, this transaction could result in an
upgrade of Nexi's ratings by one notch to 'BB', if funds from
operations (FFO) gross leverage is equal to or lower than 5.5x by
end-2022, pro-forma for the SIA acquisition. Weaker-than-expected
performance of the enlarged company, or a change in transaction
terms could lead, at closing, to an affirmation of the 'BB-' rating
with a newly assigned Positive Outlook instead of an upgrade.

KEY RATING DRIVERS

Consolidation of Payment Services: The SIA acquisition creates a
payment technologies leader in Italy while providing some exposure
to other European countries. The combined entity brings a full
consolidation of the banking channel, due to the add-on of SIA's
key accounts such as Unicredit and Poste Italiane, and higher
customer diversification. Additional clusters of electronic
payments also increase Nexi's customer coverage, taking advantage
of SIA's debit card schemes, payment-processing and capital-markets
services. Fitch expects the combined entity to achieve about EUR1
billion EBITDA by 2023. M&A aimed at a portfolio rationalisation
and a focus on core businesses may follow during the integration
process after transaction close.

Acquisition Enhances Business Profile: Fitch believes that the
merger with SIA improves the competitive positioning of Nexi. Its
full leadership in the Italian market increases barriers to entry
and improves pricing power in various business channels. A higher
diversification is also achieved via a balanced product portfolio
between merchant-acquiring and payment services and with
non-Italian exposure reaching around 15% of turnover. For these
reasons Fitch believes in an increased debt capacity for the
combined entity that can be reflected at the current 'BB-' rating
by relaxing its funds from operations (FFO) gross leverage upgrade
sensitivity to 5.5x from 5.0x.

Synergies Improve Margins: Fitch expects an initial dilutive effect
on the combined entity's EBITDA and free cash flow (FCF) margins
due to SIA's lower profitability. However, expected synergies from
the combination should help improve Nexi's margins in 2023 and
2024. Due to limited visibility on the key initiatives, its rating
case factors in annual capex of about 13% of revenue from 2022
onwards and Fitch-defined EBITDA margin of over 50% by 2023. This
should result in an FCF margin over 8% after restructuring charges,
lower than its standalone forecasts for Nexi. Its margin forecasts
assume that, as the market consolidations proceeds, profitability
improvements may be shared with clients through pricing
reductions.

Stable Leverage: The acquisition of SIA will be funded by an
all-share deal, while SIA's existing financial debt, estimated at
about EUR1.1 billion at the time of the closing, will be
consolidated in the combined entity. No refinancing has been
announced. Pro-forma for the acquisition, Fitch does not expect the
leverage of the merged entity to be materially different to Nexi's
standalone profile. Fitch expects FFO gross leverage to be around
5.5x by end-2022, after first full year of trading post-merger.

Financial Policy Evolution: Nexi confirmed its medium- to long-term
leverage target of between 2.0x and 2.5x net debt-to-EBITDA (as
defined by the company), which Fitch believes could be achieved
around 2 years post-acquisition. Fitch expects a more conservative
policy toward debt-funded acquisitions as a consequence of CDP
(BBB-/Stable) becoming the key shareholder. However, deleveraging
could be delayed if potential consolidation opportunities in Europe
are pursued, in particular if Nexi continues to have access to
attractive debt funding.

DERIVATION SUMMARY

Nexi benefits from a leading position in the Italian digital
payment market, with clear leadership in merchant-acquiring and
payment-instrument issuance, amid growing adoption of electronic
payments. Its announced integration with SIA materially strengthens
its position in the Italian domestic market, widening the catchment
of its merchant-acquiring and card issuance platform, while
strengthening its position in debit card and digital payment
solutions to corporates and public authorities.

Nexi's enduring relationships with key partner banks in Italy
should be expanded by SIA's key accounts such as Unicredit, BNL,
and Poste Italiane, as well by a fair number of European clients.
This will result in the merged entity being the leading payment
technology operator in Italy with a European presence. A wider
portfolio of partner banks, together with high switching costs for
merchants and banks to potential competitors, translate into higher
barriers to entry and stronger pricing power.

Nexi is comparable with peers rated by Fitch in its public ratings
and credit opinion portfolios within the payment processing space,
such as Nets Topco Lux 3 Sarl (B+/Stable), which is also active in
consolidation, with the acquisitions of Concardis and Dotpay, and
Hurricane Bidco Ltd (Paymentsense, B/Stable). Nets exhibits and
remains committed to a higher gross leverage profile than Nexi,
while Paymentsense has higher leverage and a different business
model that is focused on partnerships with SMEs rather than the
banking channel. Nexi's core market has healthy growth prospects,
due mainly to significant increases expected in digital payment
adoption. Moreover, Nexi shows higher EBITDA and FCF margins.

Nexi shares limited similarities with PayPal Holdings Inc.
(BBB+/Stable), which has lower margins but stronger geographical
diversification and significantly lower indebtedness.

KEY ASSUMPTIONS

Assumptions for Nexi Pre-merger

  - 2020 revenue to fall around 1.5% on lower transaction volumes
during lockdown weeks. Revenue CAGR of 5.1% for 2019-2022,
sustained by more solid growth from 2021 onwards

  - Full-year revenue and EBITDA effect of ISP merchant-acquiring
business from 2021
  
  - Cash generated by the newly acquired merchant-acquiring
business during 1H20 to contribute to Nexi per merger agreements

  - Fitch-adjusted EBITDA margin at about 53% for 2020,
progressively growing over 56% in 2023 on the effect of synergies
and cost-saving initiatives

  - Capex to be reduced to around 14% of revenues for 2020, and at
an average of close to 15% from 2022

Key Assumptions for the Nexi-and-SIA Combination

  - EUR4.6 billion equity value and consolidation of EUR 1.1
billion of financial debt from SIA

  - Full-year consolidation effect from 2022 onwards

  - SIA revenue CAGR of 6.5% for 2021-2023

  - Capex at 13% of revenues on average for 2021-2023

  - Increase in dividend payout to 35% of net profits, which Fitch
estimates on average at EUR300 million for 2022-2023

  - Non-recurring costs at around EUR215 million in total for
2020-2023

RATING SENSITIVITIES

For Nexi Pre-merger:

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

  - FFO gross leverage below 5.0x on a sustained basis (5.5x on
completion of the SIA acquisition)

  - FFO interest cover at 3.5x or above

  - Stabilisation of financial policy and demonstrated commitment
to deleveraging

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

  - FFO leverage remaining above 6.0x

  - FFO interest cover below 3.0x on a sustained basis

  - EBITDA margins below 45%

  - Financial policy leading to major acquisitions being partially
or entirely debt-funded

  - Disruption/deterioration in settlement facility setup

ESG CONSIDERATIONS

The highest level of ESG credit relevance, if present, is a score
of 3. This means ESG issues are credit-neutral or have only a
minimal credit impact on the entity(ies), either due to their
nature or to the way in which they are being managed by the
entity(ies).

LIQUIDITY AND DEBT STRUCTURE

Fitch assesses Nexi's liquidity as strong. It benefits from a
healthy cash generation profile underpinned by high EBITDA margins
and limited funding requirements from working capital, while capex
is required for keeping the services technology safe and reliable.
Low interest expense and the availability of a EUR350 million
undrawn revolving credit facility strengthen the liquidity
profile.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

The principal sources of information used in the analysis are
described in the Applicable Criteria.


PATRIMONIO UNO: Fitch Lowers Rating on 3 Tranches to Bsf
--------------------------------------------------------
Fitch Ratings has downgraded Patrimonio Uno CMBS's class D, E and F
notes to 'Bsf' from 'BBsf' and removed them from Rating Watch
Negative (RWN). The class C notes have been affirmed at 'BBsf' and
also removed from RWN. A Negative Outlook has been assigned.

RATING ACTIONS

Patrimonio Uno CMBS S.r.l.

Class B IT0004070048; LT BBB-sf Affirmed; previously at BBB-sf

Class C IT0004070055; LT BBsf Affirmed; previously at BBsf

Class D IT0004070063; LT Bsf Downgrade; previously at BBsf

Class E IT0004070071; LT Bsf Downgrade; previously at BBsf

Class F IT0004078173; LT Bsf Downgrade; previously at BBsf

TRANSACTION SUMMARY

Patrimonio Uno is a CMBS transaction secured by a single loan
backed by 27 predominantly office properties throughout Italy, with
a significant concentration in Milan and Rome. Agenzia del Demanio
(ADD), a public entity fully guaranteed by the Republic of Italy
(BBB-/Stable), accounts for more than 87% of rent, rising to 96%
when combined with income from other governmental tenants.

The borrower has had to apply for successive loan extensions, given
only modest success in selling its properties over time. The loan
has finally been extended to December 31, 2020, which is also when
the borrower, an Italian closed ended fund, expires, leaving one
year until legal maturity of the notes. As part of these
renegotiations, a portion (initially 50%) of erstwhile equity
distributions (of excess rent) has been applied instead towards
loan repayment. Since the June 2019 interest payment date (IPD)
this has increased to 100%. At the June 2020 IPD, the cash sweep
and sales proceeds for this period were held back as part of the
effort to market the loan. Fitch understands that the amortisation
payments on the notes will switch from pro rata to sequential in
time for the June 2021 IPD.

KEY RATING DRIVERS

Senior Notes Repayment Prospects

Even assuming the loan defaults at maturity in December, the class
B and C notes stand a good chance of being repaid in full by legal
maturity (December 2021) solely out of contracted income payable by
ADD, whose lease expires in December 2023. This probability has
marginally improved in its assessment because cash flow available
for amortisation in December (albeit pro rata) should be around
EUR3.5 million higher than Fitch previously projected, owing to an
expected discontinuation of reserving to cover potential property
and disposal expenditures.

Even if a similar level of deductions resumes in 2021 for property
and disposal expenditures, as well as for any professional and
legal fees that may arise, Fitch believes these notes can be
redeemed without relying on property sales. This is reflected in
the rating affirmations of these notes.

Downside Risk to Junior Notes

The class D, E and F notes could be repaid solely out of cash sweep
between now and December 2021, but only if deductions in 2021 are
largely covered out of loan default penalty interest. Any property
disposals would also be supportive; however, in the last six months
only one property (Ferrara, Via Porta San Pietro 57, 0.2% of total
market value) has been sold. While Fitch expects there is still
considerable borrower equity in the property portfolio, the
reported loan-to-value of 15.6% appears increasingly outdated.

Fitch believes it will continue to be a very challenging
environment for asset sales owing to the continued social and
market disruption caused by the effects of the pandemic and the
related containment measures, and the reduced time available since
its last rating action drives the downgrades of these junior
classes. The Negative Outlook reflects the downside risks between
now and December 2021 given the material risk of loan default and
the expiry of the fund borrower.

Continued Impact of the Pandemic

The re-introduction of pandemic suppression measures across Europe
are severely curtailing public life, with immediate consequences
for a range of commercial property. Fitch expects these conditions
to continue to present the borrower (a closed-ended fund due to
liquidate in December 2020) with severe difficulties selling its
properties at acceptable prices, which raises the risk of loan
default. The servicer would then have no more than one year to
tackle the formal liquidation process that Fitch expects would
arise in respect of the fund in 2021.

Credit Linkage to the Sovereign

Given the notes can amortise from contractual cashflow only, the
class B notes' rating is linked to that of the main tenant, ADD,
whose creditworthiness is linked to the rating of the Republic of
Italy (BBB-/Stable).

The key rating drivers listed in the applicable sector criteria,
but not mentioned, are not material to this rating action.

RATING SENSITIVITIES

The ratings are capped by the Italian sovereign rating.

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

An upgrade of Italy could result in an upgrade of the class B
notes. Sufficient property sales could result in the ratings of the
class C to F notes being upgraded.

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

A downgrade of Italy would result in a downgrade of the class B
notes, and potentially the other notes. A high enough level of
costs or withholding of cashflow at the borrower level could result
in some or all of the notes defaulting at legal maturity.

USE OF THIRD-PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G -10

Form ABS Due Diligence-15E was not provided to, or reviewed by,
Fitch in relation to this rating action.

DATA ADEQUACY

Fitch has checked the consistency and plausibility of the
information it has received about the performance of the asset pool
and the transaction. There were no findings that affected the
rating analysis. Fitch has not reviewed the results of any
third-party assessment of the asset portfolio information or
conducted a review of origination files as part of its ongoing
monitoring.

Prior to the transaction closing, Fitch reviewed the results of a
third-party assessment conducted on the asset portfolio information
and concluded that there were no findings that affected the rating
analysis.

Overall, Fitch's assessment of the information relied upon for the
agency's rating analysis according to its applicable rating
methodologies indicates that it is adequately reliable.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

The principal sources of information used in the analysis are
described in the Applicable Criteria.

PUBLIC RATINGS WITH CREDIT LINKAGE TO OTHER RATINGS

The rating of the class B notes is directly linked to the rating of
the Republic of Italy.

ESG CONSIDERATIONS

Patrimonio Uno CMBS S.r.l. has an ESG Relevance Score of 4 for Rule
of Law, Institutional and Regulatory Quality due to uncertainty of
the enforcement process in Italy, which has a negative impact on
the credit profile, and is relevant to the ratings in conjunction
with other factors.

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.




===================
K A Z A K H S T A N
===================

SB ALFA-BANK: S&P Affirms 'BB-/B' ICRs on Improved Capital Buffers
------------------------------------------------------------------
S&P Global Ratings affirmed its 'BB-/B' long- and short-term issuer
credit ratings on SB Alfa-Bank. The outlook is stable.

S&P also affirmed its 'kzA' long-term Kazakhstan national scale
rating on the bank.

S&P said, "The affirmation reflects our view that the bank's
capital and liquidity buffers will allow it to withstand the
pressures from adverse operating conditions in Kazakhstan caused by
the economic downturn and the pandemic.

"We now expect the bank's capitalization over the next 12-18
months, as measured by our projected RAC ratio, will improve to
6.0%-7.0% compare with our previous estimate of 4.0%-5.0%. This
improvement is supported by the bank's higher earnings, flat or
only marginal loan book growth in 2020, followed by a recovery of
growth in 2021-2022, and no dividends. We also note that SB
Alfa-Bank has sufficient regulatory capital buffers, with the
capital adequacy ratio (k-1) at 22.5% on Sept. 1, 2020, versus the
minimum requirement of 7.5%."

Over the first nine months of 2020, the bank reported net income of
Kazakhstani tenge (KZT) 21.8 billion (about $53.4 million). This is
2x the amount reported over the same period in 2019, and thanks, in
part, to a material foreign exchange gain due to tenge depreciation
and exchange rate fluctuations (including revaluation and
conversion operations), and the sale of one of its big problem
loans. S&P expects these gains to form a noticeable portion of 2020
full-year profits.

S&P said, "We believe SB Alfa-Bank's good underwriting standards
and the transfer of knowledge from its parent support its sound
risk management framework that we consider better than that of
local peers. However, we think that the bank's loan book quality
might still be weakened by pandemic-induced disruptions to economic
activity. Although, we expect SB Alfa-Bank will be able to defend
its pre-provision income through 2022, we believe its bottom-line
result remains sensitive to potentially elevated provisioning
needs, which we expect to account for 4.0%-4.5% of the average loan
book in 2020-2021. We anticipate that provisioning needs may arise
from the bank's retail loan book, which rapidly increased over the
past years and accounted for about 36% of total loans as of Sept.
1, 2020, as well as from particular corporate borrowers, including
such sectors as oil and gas or entertainment.

"We expect that the ratio of nonperforming assets (including Stage
3 and purchased or originated credit-impaired loans) in the total
loan book may rise to 5%-8% in 2020-2021 from about 4.0% as of
mid-2020; this level still compares well with the system average of
above 20%. At the same time, Stage 2 loans, which are also
potentially vulnerable to negative changes in the operating
environment, accounted for an additional 11% of the loan book
versus about 5% for the system.

"Funding and liquidity are currently neutral for our ratings,
although we acknowledge that the bank is maintaining sound
liquidity buffers due to its risk-averse strategy, which we view as
positive in the current macroeconomic environment. Liquid assets,
including predominantly cash, equivalents, and sovereign bonds
represented a high 57% of the balance sheet as of Oct. 1, 2020.

"We continue considering SB Alfa-Bank a strategically important
subsidiary to Alfa banking group. We think that it will continue
benefiting from well-established managerial, operational, and
risk-management links with and potential extraordinary financial
support from the group. This should somewhat help the bank to
withstand unfavorable market conditions in Kazakhstan's banking
sector.

"The stable outlook reflects our expectation that in the next 12-18
months the bank's capital and liquidity buffers will allow it to
absorb the negative impact from adverse operating conditions in
Kazakhstan, caused by the pandemic-induced economic downturn.

"We would consider a positive rating action in the next 12-18
months if the effect of deteriorated macroeconomic fundamentals on
the bank's asset quality is manageable and the share of
nonperforming loans in the loan book and cost of risk remain
significantly below the market average.

"The likelihood of a negative rating action is currently remote.
However, we would consider one if we observed worse-than-expected
deterioration in the bank's loan book quality, and high additional
provisioning needs translated into additional pressure on the
bank's capitalization, resulting in the S&P Global Ratings-adjusted
RAC ratio declining below 3%.

"We could also consider a negative rating action if we believed the
bank's status within the Alfa Banking group had weakened, and we no
longer expected the bank to benefit from extraordinary support.
This is not our base-case scenario though."




===================
L U X E M B O U R G
===================

HELIX HOLDCO: Moody's Assigns Caa2 CFR, Outlook Stable
------------------------------------------------------
Moody's Investors Service assigned a Caa2 corporate family rating
to Helix Holdco S.A. and a Caa2-PD probability of default rating
(PDR). Concurrently, Moody's affirmed the B2 rating to the EUR42
million guaranteed new money private placement notes (PPNs) issued
by Hema B.V., the Caa2 rating to the EUR305 million guaranteed
senior secured notes (SSNs) issued by Hema Bondco I B.V. and the Ca
rating to the EUR120 million pay-in-kind (PIK) Notes issued by
Helix Holdco S.A. The outlook has been changed to stable from
negative for Hema B.V. and HEMA Bondco I B.V., and assigned stable
for Helix Holdco S.A.

Moody's has also withdrawn Hema B.V.'s ratings pre-restructuring,
including Hema B.V.'s Ca CFR and C-PD/LD PDR, the Caa3 rating to
the previous EUR600 million guaranteed senior secured notes issued
by Hema Bondco I B.V. and the C rating to the EUR150 million
guaranteed senior unsecured notes issued by Hema Bondco II B.V.

RATINGS RATIONALE

The Caa2 CFR rating reflects the completion of Hema's debt
restructuring transaction, on October 19, 2020. The restructuring
resulted in a reduction in the existing SSN from EUR600 million to
EUR305 million and a complete write-off of the EUR150 million
existing senior notes. The transaction also resulted in a change of
the existing shareholder holding structure with the owners of the
existing SSNs becoming the new shareholders of Hema. The SSN
holders also obtained the PIK notes of EUR120 million.

Moody's believes that the Caa2 CFR is strongly positioned given the
company's strong financial metrics for the current rating level,
namely a Moody's adjusted debt/ EBITDA expected to reach around 6x
in fiscal 2021 and a Moody's Adjusted EBIT Margin expected to reach
3.9% in fiscal 2021.

However, the trading environment of the company remains challenging
and the CFR is unlikely to transition to a higher level until the
company demonstrates sustainable sales and earnings growth and the
company looks likely to successfully execute on its strategy. The
CFR is also constrained by (1) the company's limited liquidity
buffer and the expectation of negative free cash flows in the next
12 to 18 months, (2) the still weak, albeit improved, EBIT/interest
cover ratio expected to be below 1.0x in the next 12 to 18 months,
(3) challenging trading conditions in the European apparel and
non-food retail market, owing to the coronavirus pandemic, intense
online and offline competition and the expected deterioration in
consumer sentiment; (4) execution risk around the company's plans
to reduce costs and to grow online and internationally; and (5)
uncertainty around the future ownership and governance of the group
as the company reached a conditional agreement with the Consortium
regarding the sale of Hema B.V.

The Caa2 CFR follows the successful restructuring and reflects: (1)
the EUR337 million debt reduction (39% of the Hema's existing debt)
leading to an expected gross leverage of EUR530 million in 2021
(including the EUR120 million PIK notes); (2) the improvement in
the company's liquidity thanks to the new money PPNs and the
reduction in the company's interest payments post restructuring;
and (3) Moody's expectation that Hema's sales and EBITDA will
gradually recover in the next 12 to 18 months after the significant
decline in Q1 2020 caused by the coronavirus pandemic. The CFR
continues to reflect Hema's established market position in the
Netherlands and its diversified product offering.

Moody's understands that Hema entered into a conditional agreement
with a consortium of potential buyers (the Consortium) for the sale
of Hema B.V. This agreement is subject to the Consortium obtaining
financing for its offer corresponding to an enterprise value of
EUR470 million (still subject to change), which would allow the
full pre-payment of the PPNs and the SSNs and a partial repayment
of the PIK. If the sale agreement of Hema to the Consortium is
finalized, and the senior secured notes are likely to be fully
repaid, Moody's would expect a higher recovery compared to what is
currently implied by the Caa2 rating on the notes.

Hema's sales and EBITDA partially recovered in Q2 2020 reaching a
like for like sales decline of only 1.5% compared to the previous
year and an EBITDA (excluding restructuring expenses), which was
2.5% lower compared to the same quarter last year. Moody's expects
Hema's sales and EBITDA will continue to recover in second half of
2020 from the low point reached in the first quarter of 2020.
Moody's expects Hema's EBITDA will continue to grow in the next 12
to 18 months reaching a Moody's adjusted leverage of 6x in fiscal
2021 because Moody's expects that in the absence of further full
scale, national lockdowns, that there will be an easing of the
effects caused by the coronavirus pandemic and that the company
will continue to grow its e-commerce and its wholesale operations.
A new lockdown, further decreases in consumer confidence or
restrictive social distancing measures especially in Benelux are
key downside risks to its base case.

LIQUIDITY

Hema's liquidity is adequate with a cash balance of approximately
EUR144 million. The company's liquidity will benefit from lower
interest payments after the transaction but Hema's free cash flows
are expected to remain negative in the next 12 to 18 months as the
company will increase its capital expenditure to replace the store
locations sold to Jumbo in 2019. These negative free cash flows
will be to a large extent offset by payments due to be received in
2021 from the store locations sold to Jumbo. Moody's expects Hema
to start generating positive, albeit limited, free cash flows from
2022. The company's cash flow is seasonal, and cash on balance
sheet is typically at a low point at the end of the first half of
the fiscal year.

Hema's revolving credit facility (RCF) is subject to a minimum
EBITDA covenant, set at EUR35 million and increasing over time, and
a minimum liquidity covenant set at EUR30 million. Moody's expects
Hema to maintain sufficient headroom under these covenants. A
breach of the RCF covenants would result in a default under the RCF
terms and conditions.

STRUCTURAL CONSIDERATIONS

Hema's CFR is positioned at Helix Holdco S.A. so that all corporate
family rated instruments are included including the PIK Notes.

Moody's PDR is Caa2-PD, reflecting a 50% loss given default
assumption. The PPNs are rated three notches above the CFR
reflecting their senior priority in the enforcement waterfall and
the cushion provided by the SSNs and the PIK Notes. The Caa2 rating
on the SSNs reflects their subordination to the PPNs and to the
EUR80 million super senior revolving credit facility, of which
EUR10 million was undrawn at closing of the transaction, and its
seniority vis a vis the PIK Notes.

The Ca rating on the PIK Notes reflects the contractual and
structural subordination of the instrument as the PIK notes have
been issued by Helix Holdco S.A., a holding company outside the
restricted group.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Upward pressure on the ratings could arise if the company achieves
a sustainable recovery in profitability, improves its liquidity
position and maintains an EBIT/interest coverage sustainably above
1.0x.

Downward pressure on the ratings could arise if (i) liquidity
diminishes materially from post transaction levels including if
EBIT/interest expense deteriorates well below 1x; (ii) Hema's
operating performance weakens; (iii) if the company does not
deleverage from its current levels.

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Retail Industry
published in May 2018.

COMPANY PROFILE

Hema is a general merchandise retailer, operating a network of 774
stores as at the beginning of March 2020 principally in Benelux
with a presence in France, Germany, Spain, Austria and the UK. In
2019, Hema generated net sales of EUR1.3 billion and adjusted
EBITDA of EUR105 million. Since October 19, 2020, Hema is owned by
the senior secured notes holders following the restructuring
transaction.




=====================
N E T H E R L A N D S
=====================

SELECTA GROUP: Moody's Raises CFR to Caa1, Outlook Negative
-----------------------------------------------------------
Moody's Investors Service upgraded to Caa1 from Caa3 the corporate
family rating of Selecta Group B.V. (Selecta) and the company's
probability of default rating (PDR) to Caa1-PD/LD from Ca-PD. At
the same time Moody's assigned a Caa1 rating to the first lien
senior secured notes due 2026, a Caa3 rating to the second lien
senior secured notes due 2026, and a B1 rating to the EUR150
million super senior secured revolving credit facility (SSRCF) due
2026. The outlook remains negative.

The rating action follows the completion of Selecta's financial
restructuring plan, including the execution of a debt-to-equity
swap.

Moody's appended Selecta's Caa1-PD PDR with the "/LD" (limited
default) designation as the company's debt-to-equity swap is viewed
by Moody's as a distressed exchange which is an event of default
under Moody's definition of default. Moody's will remove the "/LD"
designation from the company's PDR after three business days.

RATINGS RATIONALE

The upgrade of the CFR by two notches to Caa1 reflects (1) the
company's lower debt burden following the restructuring that
resulted in the senior secured notes reducing from EUR1,470 million
to EUR933 million (2) improvement in the company's liquidity
following the restructuring aided by new equity and a substantial
PIK element of the interest expense in the new debt (3) Moody's
expectation that Selecta's EBITDA will gradually recover over the
next 12-18 months after the significant decline in 2020 caused by
the coronavirus pandemic. In addition, the CFR continues to reflect
Selecta's leading market position as the largest vending machine
operator in Western Europe.

Nevertheless, the CFR positioning will likely remain constrained by
(1) the expectation of negative free cash flow for at least the
next 18 months; (2) the still weak EBITA/interest cover ratio that
is expected to be well below 1.0x in the next 12 to 18 months; (3)
a challenging market environment for Selecta with a business model
that is particularly vulnerable to social distancing measures which
impact both its public and workplace vending machines offering; (4)
execution risk around the company's business plan.

Selecta's Moody's-adjusted (gross) debt/EBITDA ratio was 12.3x
(including IFRS16) as of LTM Q2 2020, and Moody's expects this
ratio to peak at around 22x by end of 2020 before reducing to under
10x by the end of 2021.

LIQUIDITY

Liquidity has improved as a result of the restructuring, which will
provide the company with headroom over next 12-18 months. However,
given execution risk around the business plan and the uncertain
trajectory of the coronavirus pandemic leading to more severe
social distancing measures, significant free cash outflows may
occur which could put pressure on liquidity.

ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONSIDERATIONS

Moody's regards the coronavirus outbreak as a social risk under its
ESG framework, given the substantial implications for public health
and safety.

RATIONALE FOR THE NEGATIVE OUTLOOK

The negative outlook reflects (1) the execution risk Selecta faces
in reducing costs and implementing business improvement measures
and a challenging operating environment with an uncertain
trajectory of the coronavirus pandemic (2) expected negative free
cash flow in the next 12-18 months.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

An upgrade of the rating is unlikely over the near term, given the
negative outlook. Nevertheless, the outlook could return to stable
if Selecta (1) improves cash flow generation such as that RCF/Net
debt is sustainably above 7%; (3) EBITA/Interest moves sustainably
towards 1x; and (3) Moody's adjusted debt/EBITDA decreases
sustainably below 6.5x.

Downward pressure on the ratings could arise if (i) liquidity
deteriorates from post transaction levels; (ii) Selecta's operating
performance weakens further such that Moody's adjusted debt/EBITDA
remains above 10x for a sustained period.

STRUCTURAL CONSIDERATIONS

Selecta's debt structure post restructuring comprises a B1 rated
EUR150 million SSRCF and approximately EUR693 million equivalent
Caa1 rated first lien senior secured notes and Caa3 rated EUR240
million equivalent second lien senior secured notes, all issued by
Selecta Group B.V. The SSRCF is rated three notches above the first
lien senior secured notes reflecting its priority ranking. The
second lien is rated two notches below the first lien senior
secured notes reflecting its ranking behind the first lien debt.
Both the SSRCF and senior secured notes are guaranteed by group
companies representing at least 80% of consolidated EBITDA and are
secured principally by share pledges over the guarantors, in each
case subject to legal limitations.

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Business and
Consumer Service Industry published in October 2016.

LIST OF AFFECTED RATINGS:

Upgrades:

Issuer: Selecta Group B.V.

Probability of Default Rating, Upgraded to Caa1-PD /LD from Ca-PD

Corporate Family Rating, Upgraded to Caa1 from Caa3

Assignments:

Issuer: Selecta Group B.V.

Backed Senior Secured Bank Credit Facility, Assigned B1

Backed Senior Secured Regular Bond/Debenture, Assigned Caa1

Backed Senior Secured Regular Bond/Debenture, Assigned Caa3

Withdrawals:

Issuer: Selecta Group B.V.

Backed Senior Secured Regular Bond/Debenture, Withdrawn, previously
rated Caa3

Outlook Actions:

Issuer: Selecta Group B.V.

Outlook, Remains Negative

COMPANY PROFILE

Selecta is the leading route based unattended self-service coffee
and convenience food provider in Europe by revenue, with operations
in 16 countries across Europe. It operates a network of more than
460,000 snack and beverage vending machines on behalf of a broad
and diverse client base, including private and public
organizations. Selecta is ultimately owned by KKR.




===========
R U S S I A
===========

GAZPROM PJSC : Fitch Rates US$1.4BB Subordinated Debt 'BB+'
-----------------------------------------------------------
Fitch Ratings has assigned PJSC Gazprom's USD1.4 billion and EUR1
billion subordinated loan participation notes (LPNs) - issued by
Gaz Finance Plc - final 'BB+' ratings. The notes are the fourth and
fifth series issued under Gaz Finance's EUR30 billion debt issuance
programme. The LPNs are issued on a limited recourse basis for the
sole purpose of funding a subordinated loan from Gaz Finance to
Gazprom. The noteholders will rely solely on Gazprom's credit and
financial standing for the payment of obligations under the notes.

The notes are rated two notches below Gazprom's 'BBB' Issuer
Default Rating (IDR) which reflects the going-concern loss
absorption capacity of the notes and their highly subordinated
nature. The notes will be extinguished and have no recovery
prospects under certain insolvency scenarios, but this is mitigated
by its general expectations of very low recoveries for the majority
of hybrid debt in case of insolvency. The notes do not have
features that could typically merit a wider than two-notch
difference with the IDR such as permanent write-down of principal
on a going concern basis or easily activated going-concern loss
absorption.

The instruments are consistent with 50% equity credit (EC)
allocation as per Fitch's criteria, which implies that 50% of the
loan from Gazprom Finance to Gazprom will be removed from the
latter's debt. EC was allocated due to structural equity-like
characteristics of the instruments including maturity in excess of
five years and deferrable coupon payments. EC is limited to 50%
given that deferred coupons are cumulative, which is a more
debt-like feature of the notes.

KEY RATING DRIVERS

KEY RATING DRIVERS FOR THE NOTES

Ratings Reflect Deep Subordination: The notes are rated two notches
below Gazprom's 'BBB' IDR given the highly subordinated nature of
the notes, which are considered to have very low recovery prospects
in a liquidation or bankruptcy scenario. The notes will be
extinguished and have zero recovery in an insolvency if it involves
a Russian court initiating supervision or liquidation procedures
against Gazprom. They rank senior only to the claims of equity
shareholders.

Equity Treatment: The securities qualify for 50% EC as they meet
Fitch's criteria with regard to deep subordination, remaining
effective maturity of at least five years, full discretion to defer
coupons for at least five years and limited events of default.
These are key equity-like characteristics, providing Gazprom with
greater financial flexibility. EC is limited to 50% given the
cumulative coupon deferrals, a feature that is more debt-like in
nature.

Subordinated Loan: Gaz Finance will apply the proceeds from each
tranche of the subordinated notes solely for financing the
corresponding subordinated loan to Gazprom. The loan will mirror
all main terms of the notes except for maturity. While the notes
are perpetual, both loans will be due in 2081 and can be extended
at Gazprom's option. The notes will be redeemed by Gazprom if the
corresponding loan is repaid.

Effective Maturity Date: Although both loans have initial maturity
in 2081, Fitch deems the effective maturity of the loans to be in
2046. From this date, the coupon step-up is still within Fitch's
aggregate threshold rate of 100bp, but the issuer will no longer be
subject to replacement language, which expresses the company's
intent to redeem the instrument at its reset date with the proceeds
of a similar instrument or with equity. According to Fitch's
criteria, the 50% EC would change to 0% five years before the
effective maturity date, i.e. in 2041. In addition, the issuer has
the option to redeem the notes in October 2025 or later.

Cumulative Coupon Limits Equity Treatment: Coupon deferrals are
cumulative, which results in 50% equity treatment and 50% debt
treatment of the hybrid instruments by Fitch. Despite the 50%
equity treatment, Fitch treats coupon payments as 100% interest,
which is reflected in the coverage metrics. The company will be
obliged to make a mandatory settlement of deferred interest
payments under certain circumstances, including the declaration of
a cash dividend. This is a feature similar to debt-like securities
and reduces the company's financial flexibility.

No Change of Control: Terms of the hybrid notes do not require
Gazprom to repurchase them in the event of a change of control and
do not contain material affirmative or negative covenants. This
supports the 50% EC allocated to the notes.

KEY RATING DRIVERS FOR GAZPROM

Rating Constrained by Sovereign: Gazprom's IDR is constrained by
that of Russia (BBB/Stable), the energy company's ultimate
controlling shareholder, based on Fitch's Government-Related
Entities (GRE) Rating Criteria and Parent and Subsidiary Linkage
(PSL) Rating Criteria. Fitch assesses the Standalone Credit Profile
(SCP) of Gazprom at 'a-', considering its strong operational and
financial profiles as well as operating environment and corporate
governance risks.

Fitch views the overall linkage between Gazprom and the state as
strong by assessing the status, ownership and control; support
track record and expectations as well as socio-political and
financial implications of the company's default in accordance with
Fitch's GRE Rating Criteria.

Resilient Market Share, Lower Prices: Fitch believes Gazprom will
remain the largest gas supplier to Europe, its key market despite
competition from renewable energy sources in the medium term. Fitch
projects the company's profitability of European exports to drop
fivefold in 2020 relative to 2019 before rebounding in 2021 as gas
and oil prices recover from 2020 lows. Fitch has recently cut its
medium- and long-term gas price assumptions and no longer expect
Gazprom's European gas exports to reach the high profitability of
2018-2019. Continued oversupply in the European gas market puts
pressure on the company's credit metrics and SCP.

Pressure from LNG Glut: LNG imports into Europe increased 47
billion cubic metres (bcm), or 69%, yoy in 2019 and remained high
until May 2020. However, US LNG feed gas intake was merely 3.1
billion cubic feet per day (bcf/d) in July against total capacity
of 10 bcf/d due to low sale prices in both Asia and Europe, but
feed gas delivered for liquefaction increased to above 7 bcf/d in
early October as Asian and European spot and forward prices rose.
Fitch expects LNG to continue affecting Gazprom's gas export
volumes and prices at least in 2020-2021.

Leverage to Rise Temporarily: Fitch expects lower gas and oil
prices and volumes will drive Gazprom's funds from operations (FFO)
net leverage higher to 3.2x in 2020 from 1.4x in 2019 - the first
time it will exceed 1.7x since 2007. Fitch projects EBITDA to
decline to USD16 billion in 2020 from USD29 billion in 2019. Fitch
forecasts FFO net leverage to decrease to 2.2x in 2021 and 1.9x in
2022. This compares with management's aim to keep net
debt-to-EBITDA below 2.5x in 2020 and below 2.0x thereafter.

Heavy Fine by Polish Authorities: The Polish competition authority
UOKiK claimed that Gazprom violated local antitrust laws with Nord
Stream 2 project funding arrangements and imposed a PLN29 billion
(around USD7.6 billion) fine on it in October 2020. Gazprom intends
to appeal the decision. Fitch has not incorporated the full or
partial payment of the fine into its forecasts yet. If Gazprom
ultimately pays the fine in full, its FFO net leverage would
increase by roughly 0.3x. However, Gazprom's rating is constrained
by the sovereign's, so partial or full payment of the penalty would
likely be rating neutral.

Nord Stream 2 Construction: The US imposed sanctions related to the
55bcm Nord Stream 2 pipeline project at end-2019 and is considering
further sanctions. The Danish part of the pipeline has not been
completed by Gazprom. The project has been subject to considerable
public and political attention in recent years. Fitch
conservatively excludes all Nord Stream 2-related cost savings from
Gazprom's forecast until Fitch gains more clarity on the project's
future. Fitch assesses that potentially lost annual value from a
project delay could amount to 3%-4% of Gazprom's EBITDA.

DERIVATION SUMMARY

Gazprom's rating is constrained by that of the sovereign as the
company has strong ties with Russia. Gazprom's SCP of 'a-'
incorporates the strength of its business and financial profiles
along with risks related to the operating environment in Russia and
corporate governance.

The company's scale is large by global standards. Gazprom's 2019
EBITDA (USD29 billion) was smaller than that of Royal Dutch Shell
plc (AA-/Stable; USD45 billion) but comparable with that of BP plc
(A/Stable; USD32 billion) and Total SE (AA-/Stable; USD31 billion).
Gazprom has one of the world's largest hydrocarbon reserves and
produces 8.9 mmboe/d of gas and 1.3 mmboe/d of liquids, excluding
equity affiliates', which are substantially more than its peers'.

Gazprom is Russia's major state-owned energy company, engaged in
natural gas production, transportation and distribution, as well as
oil production and refining, plus heat and electricity generation.
It benefits from monopoly rights for pipeline gas exports from
Russia. Its assets are primarily located in a single country,
Russia, and its export sale volumes highly depend on gas demand in
Europe; these two factors negatively affect Gazprom's business
profile.

Gazprom's financial profile is also strong with end-2019 FFO net
leverage at 1.4x, on a par with Shell's and Total's and lower than
BP's. Fitch expects net leverage to spike in 2020 but to start
normalising in 2021.

Among state-owned oil and gas companies the ratings of China
National Petroleum Corporation (CNPC, A+/Stable), Saudi Arabian Oil
Company (Saudi Aramco, A/Stable), Abu Dhabi National Oil Company
(ADNOC, AA/Stable), and Petroleo Brasileiro S.A. (Petrobras,
BB-/Negative) are constrained by those of the sovereigns, similar
to Gazprom.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Its Rating Case for the Issuer

  - Brent oil price at USD41/b in 2020, USD45/b in 2021, USD50/b in
2022, and USD53/b thereafter

  - Average USD/RUB exchange rates at 71.5 in 2020, 70.9 in 2021,
69.5 in 2022, 67 thereafter

  - Gazprom's European export prices at USD121/kcm in 2020,
USD145/kcm in 2021, USD165/kcm in 2022 and USD180/kcm in 2023

  - Export volumes to Europe at 163bcm in 2020, increasing to
190bcm by 2021 and slightly growing thereafter

  - Capex of RUB1,200 billion per year in 2020 and 2021, and
RUB1,400 billion per year until 2023

  - Gradual transition to a 50% dividend payout

RATING SENSITIVITIES

Developments That May, Individually or Collectively, Lead to
Positive Rating Action/Upgrade

  - An upgrade of Russia, provided Gazprom's SCP does not weaken
and links with Russia remain strong.

Developments That May, Individually or Collectively, Lead to
Negative Rating Action/Downgrade

  - Negative rating action on Russia.

  - FFO net leverage sustained above 2.0x could be negative for the
SCP but not necessarily the IDR.

For the sovereign rating of Russia, Gazprom's ultimate majority
shareholder, Fitch outlined the following sensitivities in its
rating action commentary of August 7, 2020:

The main factors that could, individually or collectively, lead to
positive rating action/upgrade are:

  - Macro: Higher and sustained real GDP growth above peers, for
example stemming from the implementation of a reform strategy
addressing structural constrains to growth, while preserving
improved macroeconomic stability.

  - Structural: Improvement of structural indicators, for example
in terms of governance standards including rule of law, voice and
accountability and control of corruption.

  - Public Finances: Significant additional strengthening of fiscal
and external savings buffers compared with Fitch's current
projections, for example, through sustained high oil prices and
windfall revenues.

The main factors that could, individually or collectively, lead to
negative rating action/downgrade:

  - Macro: Changes in the policy framework that undermine policy
credibility or increase the impact of oil price volatility on the
economy, for example in response to an extended period of economic
weakness due to the COVID-19 pandemic.

  - Structural: Imposition of additional sanctions that undermine
macroeconomic and financial stability, or impede debt service
payments.

  - Public Finances: Sustained erosion of the sovereign balance
sheet, including from the materialisation of contingent liabilities
from the large public sector.

LIQUIDITY AND DEBT STRUCTURE

Sufficient Liquidity: As at June 30, 2020 Gazprom had RUB1.15
trillion in cash and other liquid financial assets, which was
sufficient to cover RUB0.7 trillion of short-term debt and RUB0.4
trillion Fitch-projected negative free cash flow (FCF) in 2020. The
company has raised around RUB0.6 trillion so far this year and will
need to raise additional debt to replenish cash reserves.

Access to International Markets: A large part of Gazprom's RUB4.4
trillion (USD63 billion) debt portfolio was represented by
international bonds and loans at end-1H20. The share of debt in
foreign currency was 78%. Gazprom is not subject to US or EU
financial sanctions.

SUMMARY OF FINANCIAL ADJUSTMENTS

  - Gazprom's EBITDA reduced by RUB56 billion to deduct
right-of-use assets depreciation and lease-related interest expense
in 2019. At the same time, its lease liabilities were removed from
debt.

  - Fitch added RUB714billion of bank deposits and other financial
instruments to the company's end-2019 readily available cash. Fitch
also removed RUB123 billion of the decrease in short-term deposits
from Gazprom's working capital, which led to a fall in its 2019 FCF
by the same amount

  - Fitch removed RUB189billion of settlement with Naftogaz from
2019 FCF

  - Fitch included RUB75billion of financial guarantees provided by
Gazprom in its end-2019 debt

  - Fitch removed dividends paid to minority shareholders from
total dividends paid and subtracted them from Gazprom's FFO

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

The principal sources of information used in the analysis are
described in the Applicable Criteria.

PUBLIC RATINGS WITH CREDIT LINKAGE TO OTHER RATINGS

Gazprom's Long-Term IDR is constrained by the sovereigns.

ESG CONSIDERATIONS

Fitch does not provide separate ESG scores for Gazprom as its
ratings and ESG scores are derived from its parent.




===========
T U R K E Y
===========

ULKER BISKUVI: Fitch Assigns 'BB-' IDR, Outlook Negative
--------------------------------------------------------
Fitch Ratings has assigned Ulker Biskuvi Sanayi A.S. final
Long-Term Foreign-Currency (FC) Issuer Default Rating (IDR) and
senior unsecured rating of 'BB-'. This follows the placement of
6.95% USD650 million senior unsecured notes due 2025 and receipt of
final documentation with terms and conditions that are aligned with
its expectations. The bond will refinance the company's syndicated
loan due in November 2020, supporting the assignment of final IDR.
The Outlook is Negative.

Fitch has also assigned Ulker a final Long-Term Local-Currency (LC)
IDR of 'BB' with Negative Outlook and simultaneously withdrawn this
rating for commercial reasons. The LC IDR is premised on Ulker
being ring-fenced from the rest of the Yildiz group, to which it
belongs. It assumes that Ulker's cash flows will not be used to
service the substantial debt of its ultimate parent Yildiz Holding
A.S. or its sister companies and that Ulker's transactions with
related parties will remain at arm's length and will not jeopardise
its credit profile.

The LC IDR reflects Ulker's strong market position in the Turkish
confectionery market and a growing international presence as well
as the company's ability to drive EBITDA margin improvements and
generate positive free cash flow (FCF).

The Negative Outlook on the LC IDR reflects uncertainty around the
level of cash outlay for potential M&A. Fitch views the possibility
that Ulker may acquire related-party entities that are ultimately
owned by shareholder Yildiz Holding A.S. (Yildiz) as increasingly
likely over the next two to three years. This could prevent funds
from operations (FFO) net leverage falling below 4x, despite EBITDA
growth, limited capex needs and moderate dividends.

Ulker's 'BB-' FC IDR is constrained by Turkey's Country Ceiling of
'BB-' as Fitch expects the company's hard-currency debt service
ratio to remain insufficient to allow it to be above the Country
Ceiling in 2020-2023. Therefore, the Outlook on the FC IDR is
aligned with that on Turkey's sovereign rating.

The Long-Term LC IDR was withdrawn for commercial reasons.

KEY RATING DRIVERS

Largest Confectionery Producer in Turkey: Ulker's ratings benefit
from the company's strong position as the largest confectionery
producer in Turkey with a 37.8% market share in total confectionery
market at end-June 2020. Ulker has leading market shares in
chocolate and biscuits but is behind Eti, its largest competitor,
in the cake category.

Limited Threat from International Confectioners: Market shares of
international confectionery producers, such as Nestle SA (A+/
Stable), Mondelez International Inc. and Ferrero, in Turkey are
substantially smaller than those of Ulker and Eti, despite their
portfolios of global brands and strong innovation capabilities.
This is because of consumer loyalty to local brands and Ulker's
adequate pace of product innovation, which Fitch believes
effectively addresses consumer needs in Turkey. Synergy products,
which are produced under Godiva and McVitie brands and sold by
Ulker in countries where it has a presence, also enhance the
competitiveness of its product offer.

Expected Stable Market Position: Fitch sees limited threat from new
market entrants promoting healthy-snacking as this trend has a
limited influence on consumers in Turkey relative to developed
markets. Therefore, Fitch assumes that Ulker's market position is
not going to change over the next five years.

Growing Foreign Operations: Over the past five years, Ulker has
grown its exports and increased its presence outside Turkey through
acquisitions in Egypt, Saudi Arabia, Kazakhstan and UAE. In 2019
foreign operations accounted for 39% of its revenue and 48% of its
EBITDA. Geographic diversification improves Ulker's growth and
profitability profile and also lowers FX risks due to hard
currency- denominated exports and sales in Saudi riyal and United
Arab Emirates dirham, which are pegged to the US dollar.

Country Ceiling Constraint: Ulker's FC IDR is constrained by the
Country Ceiling of Turkey where 52% of the company's 2019 EBITDA
was generated. EBITDA from countries with higher Country Ceilings -
Saudi Arabia (A+) and Kazakhstan (BBB+) - is not sufficient to
cover the company's hard-currency interest payments, although the
coverage ratio increased substantially in 1H20. Considering the
enlarged bond placement of USD650 million and related interest
costs, Fitch now projects that growth in profits generated in Saudi
Arabia and Kazakhstan will not be sufficient to support an increase
in the coverage ratio above 1x and therefore the Country Ceiling is
unlikely to be changed in 2022-2023.

Limited Disruptions from Pandemic: Global lockdowns and
social-distancing measures to fight the spread of coronavirus so
far have had limited impact on Ulker's sales due to the company's
low presence in on-trade channels. Fitch estimates that reduction
in revenue due to decreased gifting activity and lost sales to
schools (around 1% of 2019 revenue) were more than offset by growth
in at-home snacking.

Positive FCF: The ratings are supported by Ulker's ability to
generate FCF, which Fitch expects to be sustained over 2020-2022 as
the company has completed its investment cycle and now has low
capex needs. This is despite its assumption that Ulker will resume
dividend payments from 2021 after paying no dividends in 2019 and
2020. Fitch forecasts dividends not to exceed 20% of Ulker's
consolidated net income in 2021-2023.

Substantial Cash Adjustment: Fitch adjusted Ulker's reported cash
by excluding investments in traded equity, fixed income and
alternative investments. The adjustment of TRY3.1 billion in 2019
resulted in a substantial 2.6x increase in Ulker's FFO net
leverage. Fitch believes that such investments are likely to be
liquidated only to fund potential M&A but their value could also be
subject to market fluctuations and Fitch therefore does not assume
them as a funding source for debt repayment.

EBITDA Growth Supports Leverage: Ulker's strong ability to grow
sales and drive EBITDA margin improvements through supply-chain
efficiencies supports deleveraging capacity. This in turn builds up
headroom for M&A, which Fitch expects would mostly be directed for
acquisitions of related-party entities that are ultimately owned by
Yildiz. The 'BB-' IDR is premised on these transactions not causing
FFO net leverage to exceed 4.5x (2020: 4.1x) over the next two to
three years. Fitch also assumes no major FX shocks as Ulker's debt
is almost fully denominated in hard currencies (1H20: 94% of
total).

Eurobond in Line with IDR: Ulker's senior unsecured Eurobond is
rated in line with the 'BB-' FC IDR. As with the syndicated loan,
which is the other major funding source of Ulker, Eurobond is not
guaranteed by subsidiaries. However, prior-ranking debt,
represented by debt at subsidiaries, accounted for only around 0.5x
of consolidated EBITDA at end-June 2020, which supports the
alignment of the instrument rating with the FC IDR.

Related-Party Transactions: Ulker has an ESG Relevance Score of '4'
for Group Structure as its operations are characterised by a
relevant degree of interconnection with companies that are
ultimately owned by its shareholder Yildiz. These related-party
transactions are mostly in the company's ordinary course of
business, including sales to modern and traditional retail and
procurement of chocolate dough. Additionally, Ulker pays royalties
to Yildiz, which owns the brands under which Ulker markets its
products. Fitch assumes these transactions will continue to be
conducted at arm's length and will not result in significant cash
leakage outside Ulker's consolidated scope of activities.

The rating is premised on Ulker being ring-fenced from the rest of
Yildiz group and Fitch assumes that Ulker's cash flows will not be
used to service the substantial debt of Yildiz nor of Ulker's
sister companies. However, Fitch includes in its calculation of
leverage metrics the guarantees Ulker provides for obligations of
Yildiz and Onem Gida San. ve Tic. A.S., which increase FFO net
leverage by about 0.8x

DERIVATION SUMMARY

Ulker is firmly positioned across Fitch-rated confectionery and
baked goods manufacturers as a medium-sized company with average
profitability and innovation capability. Ulker's organic growth
potential and ability to achieve consistent EBITDA margin
improvements differentiate the company favourably from peers.

Ulker compares well against Argentinean confectionery producer
Arcor S.A.I.C. (FC IDR: B/Stable, LC IDR: B+/Negative) due to
similar operational scales, strength of local brands and geographic
diversification. Both companies generate about 35%-40% of revenue
outside their domestic markets. Ulker's rating is higher than
Arcor's due to stronger EBITDA margins, positive FCF, lower net
leverage and more manageable FX risks.

Ulker is also rated higher than Russia's largest confectionery
producer JSC Holding Company United Confectioners (B/Stable) as it
benefits from larger market shares in its domestic market, better
geographic diversification and the resulting larger business scale.
United Confectioners has weaker financial transparency and opaque
related-party transactions, which constrain its rating, despite its
more conservative leverage.

Ulker is rated lower than Mexico-based Grupo Bimbo, S.A.B. de C.V.
(BBB/Stable), the world's largest baked goods producer with about a
3% market share, due primarily to its smaller scale and geographic
footprint.

Ulker has a substantially weaker business profile than Mondelez
International, Inc. (BBB/Stable), one of the largest confectionery
producers globally with strong local and global brands and
diversified operations by product and geography. In addition,
Ulker's profitability, FCF generation and financial flexibility are
weaker than Mondelez's. This explains its lower rating, despite a
more conservative capital structure.

Ulker's FC IDR of 'BB-' is constrained by Turkey's Country Ceiling
of 'BB-'.

No parent-subsidiary linkage or operating environment aspects were
applied to Ulker's rating. Fitch could consider linking Ulker's
rating to Yildiz's credit profile in case of a weakening of the
current ringfencing.

KEY ASSUMPTIONS

Fitch's Key Assumptions Within Its Rating Case for the Issuer

  - Low single-digit sales volumes growth and price/mix changes
above inflation contributing to revenue CAGR of 13% over 2020-2023

  - Gradual improvement in EBITDA margin over 2020-2023 with
dilution from potential acquisition of related-party distributers

  - Capex below TRY150 million in 2020 and at around TRY200
million-TRY250 million a year over 2021-2023

  - Dividends no higher than 20% of consolidated net income over
2021-2023

  - Short-term investments and receivables from Yildiz on balance
sheet and to be liquidated only to fund bolt-on M&A

  - No non-trade outflows to related parties

  - No additional guarantees provided for obligations of third
parties

RATING SENSITIVITIES

Factors that could, individually or collectively, lead to positive
rating action/upgrade:

  - Upgrade of Turkey's Country Ceiling

  - Annual EBITDA from Saudi Arabia and Kazakhstan sufficiently
exceeding annual hard-currency interest payments or Fitch-projected
hard currency debt service ratio exceeding 1x over the next three
to four years

Factors that could, individually or collectively, lead to a
revision of Outlook to Stable:

  - A revision of Turkey's Outlook to Stable

Factors that could, individually or collectively, lead to negative
rating action/downgrade:

  - Downgrade of Turkey's Country Ceiling below 'BB-'

  - Increased competition, eroding Ulker's market share in Turkey
or internationally

  - Deterioration in FCF profile on a sustained basis

  - FFO net leverage consistently above 4.5x

  - Larger-than-assumed M&A, investments in high-risk securities
affecting its restricted cash calculation or related-party
transactions leading to significant cash leakage outside Ulker's
scope of consolidation

LIQUIDITY AND DEBT STRUCTURE

Ample Liquidity after Bond Placement: Pro-forma for the recent bond
placement and refinancing of the syndicated loan due in November
2020, Ulker has ample liquidity without any significant maturities
until 2023 when another syndicated loan is due. Fitch projects
Ulker's cash balances and operating cash flow to be sufficient to
cover capex, dividends, potential M&A and other debt maturities.

SUMMARY OF FINANCIAL ADJUSTMENTS

Fitch has reclassified TRY3.1 billion of cash invested in liquid
mutual funds at end-2019 as restricted cash. Fitch believes that
such investments are likely to be liquidated only to fund potential
M&A but their value could also be subject to market fluctuations
and Fitch therefore does not assume them as a source of debt
repayment.

Fitch has added guarantees provided by Ulker's subsidiaries for
debt of Yildiz and obligations of Onem to off-balance-sheet debt.

REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF
RATING

The principal sources of information used in the analysis are
described in the Applicable Criteria.

ESG CONSIDERATIONS

Group Structure: ESG Relevance Score '4'

Ulker has an ESG Relevance Score of '4' for Group Structure due to
the complexity of the structure of the wider Yildiz group and
material related-party transactions. This ESG score currently has a
negative impact on the credit profile, and is relevant to the
rating in conjunction with other factors.

Unless otherwise disclosed in this section, the highest level of
ESG credit relevance is a score of '3'. This means ESG issues are
credit-neutral or have only a minimal credit impact on the entity,
either due to their nature or the way in which they are being
managed by the entity.




===========================
U N I T E D   K I N G D O M
===========================

ASTON MARTIN: Moody's Rates New First Lien Notes Due 2025 'Caa1'
----------------------------------------------------------------
Moody's Investors Service assigned a Caa1 instrument rating to the
new senior secured first lien notes due 2025 issued by Aston Martin
Capital Holdings Limited. Concurrently, Moody's has affirmed the
Caa1 corporate family rating (CFR) and Caa1-PD probability of
default rating (PDR) of Aston Martin Lagonda Global Holdings plc.
The outlook has been revised to stable from negative.

The proceeds from the new rated notes, the new second lien notes
due 2026, new equity issuance and new revolving credit facility
will be used to refinance the company's current capital structure
and to support liquidity. Upon completion of the transaction and
repayment of the existing rated notes due 2022, Moody's expects to
withdraw the rating on the existing rated notes due 2022.

RATINGS RATIONALE

The rating actions balance the substantial improvements to AML's
maturity and liquidity profile from the anticipated transaction
with the fact that the overall gross debt burden increases further
and the challenge to achieve an at least neutral cash flow profile
and leverage declining towards 7.0x remains.

The transaction will extend the company's core debt funding
arrangements to 2025 and 2026 thereby substantially improving the
company's maturity profile. In addition, it will improve the
company's cash balances by around GBP240 million partly from the
new equity issuance and the additional second lien funding. The new
equity remains subject to annual general meeting (AGM) approval
later this year.

While this is positive, the transaction will also increase the
total gross unadjusted debt burden further to GBP1.4 billion up
from GBP1.2 billion prior to the transaction, which had already
risen substantially from GBP0.7 billion at the end of 2018.

Moody's also views the new strategic cooperation with Mercedes-Benz
AG (MBAG, subsidiary of Daimler AG) as positive, because it gives
AML access to critical future technologies including
electric/electronic (E/E) architecture and a full range of
powertrain technology, including electric, mild and full hybrid
without its need to develop it in-house and thereby easing
development risks and pressure on AML's cash flows over the coming
years. While AML is compensating MBAG via equity stakes over
several phases in the coming years, Moody's notes that a drop of
AML's share price below a certain threshold could trigger cash
payment requirements for AML.

AML also faces various operating and performance challenges partly
company-specific and partly owing to the global pandemic. As a
result, 2020 revenue, profits and cash flow will be severely
impacted and Moody's expects that negative free cash flow could
reach between GBP600-700 million for the full year of which just
above GBP500 million already occurred in the first nine months.

Positively, the company's dealerships and factories are largely
open again, DBX sales and deliveries ramping up and the company has
made transforming changes to its management team and strategy
during 2020. The company seeks to focus on front-engine cars, SUVs
and mid-engine cars alongside its specials and with a 2024/25 aim
to produce 9,000-10,000 vehicles. The company aims as part of its
strategy to deliver GBP2 billion of revenue, GBP500 million
company-adjusted EBITDA by 2024/25 and capex of GBP250-300 million
per year for 2021-2025.

However, execution risks remain high at this stage and a very
substantial recovery is required to achieve metrics that Moody's
would expect for a higher rating including a leverage of towards
7.0x and substantial progress towards an at least neutral cash flow
profile. In 2019, the company sold 5,862 cars while retail sales to
customers decreased by 39% and wholesale sales to dealers by 61% in
the nine months to September 2020 compared to the prior year
period. The company's destocking efforts, while substantially
progressing, have also resulted in pressure on average selling
prices in 2020. In addition, the macro environment remains
challenging across many of its end markets and AML is also
significantly exposed to the future trading relationship between
the UK and EU.

Nevertheless, the stable outlook reflects Moody's expectation that
performance should start to improve although significant risks
remain. It also reflects the improvement in the liquidity and
maturity profile, which provides the immediate time and flexibility
to improve the financial performance.

The Caa1 rating on the new notes reflects the changes to the
capital structure, in particular the introduction of a sizeable
second lien as well as the reduction in overall first lien debt.
The guarantees for the new notes cover 79% of AML's revenue and
113% of AML's assets and the security package includes the main
factory in Gaydon, UK, and material intellectual property similar
to the legacy notes. However, the slightly increased new super
senior revolving credit facility due 2025 continues to have
priority over the shared security and guarantee package in the
event of enforcement. Other debt also continues to include various
working capital financing arrangements and some smaller facilities.
Moody's understands that discussions regarding the 2020 actuarial
pension valuation are currently ongoing with a statutory deadline
of July 2021 and that AML proposed a change in assumptions
resulting in a deficit of GBP100 million and the U.K. DB Plan
potentially being granted security over certain equipment and
tooling. However, discussions are at an early stage and no
agreement has yet been reached.

Moody's views the company's liquidity profile as adequate pro-forma
for the transaction. As of September 2020, and pro-forma the
company has around GBP526 million of cash on the balances sheet and
limited near-term maturities, mostly around its working capital
financing arrangements and smaller loans. However, Moody's also
expects the company to remain free cash flow negative until at
least 2022. There are two maintenance covenants related to the
revolving credit facility including a net debt covenant and minimum
liquidity covenant under which Moody's expects the company to
maintain compliance.

FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS

Negative pressure on the rating could result from a lack of
sufficient progress in recovering volumes and profitability as well
as lack of progress in reducing the high negative free cash flow
and high leverage levels. A weakening liquidity profile would also
pressure the ratings and so could further increases in debt.
Conversely, volume and profitability improvements as well as free
cash flow improvements would create positive pressure on the rating
and outlook. In any case, positive pressure would require
maintaining an at least adequate liquidity profile,
Moody's-adjusted debt/EBITDA improving towards 7.0x on a sustained
basis and Moody's-adjusted EBITA margin in the mid-single digits.

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Automobile
Manufacturer Industry published in June 2017.

COMPANY PROFILE

Based in Gaydon, UK, Aston Martin is a car manufacturer focused on
the high luxury car segment. Aston Martin generated revenue of
GBP1.0 billion in 2019 from the sale of 5,862 cars. AML is a
UK-listed business and its largest shareholder is Yew Tree Overseas
Limited, a consortium led by the Executive Chairman of the company
Lawrence Stroll. Daimler AG also has a stake in the business.

BRENTWOOD LEISURE: Ceases Trading, Leisure Centre Shut Down
-----------------------------------------------------------
BBC News reports that a council says it is "working hard" to reopen
a town's leisure centre, after its "immediate closure" was
announced.

The Brentwood Centre and community halls in Brentwood, Essex,
closed on Oct. 27 after its management company Brentwood Leisure
Trust ceased trading, BBC relates.

According to BBC, the trust, which has suffered financial
difficulty amid the Covid pandemic, said Brentwood Borough Council
rejected a deal to keep the service open.

But the council said it could not "lawfully" provide further
funding, BBC notes.

In a statement posted on Brentwood Leisure Trust's website, its
trustees, as cited by BBC, said they had been in discussions with
the local authority since July and that "a deal in principle was
rejected by the council".

It said trustees "have been left with no option other than to wind
up the business with immediate effect", BBC relays.

In a statement on its Facebook page, the Conservative-controlled
council said it was "committed" to reopening the facility, but said
further financial assistance to the trust would be unlawful as it
could "give them an advantage in the market", BBC discloses.


BUSABA: Majority of Creditors Back Company Voluntary Arrangement
----------------------------------------------------------------
Finn Scott-Delany at Big Hospitality reports that Busaba Eathai's
Company Voluntary Arrangement (CVA) has been approved, with an 81%
majority of creditors backing the proposals.

As part of the restructure, the Thai restaurant group will exit
leases in Oxford Circus, Manchester, St Albans, and Reading, Big
Hospitality discloses.

According to documents filed at Companies House, Tnui Asset Finance
Ltd. has GBP21 million of equity in the company, and so has 71% of
creditor voting rights, Big Hospitality notes.

HMRC, Shaftesbury and the City of London voted against the
proposals, Big Hospitality states.

The Terry Harrison-led company has nine sites open with three, in
Covent Garden, Leicester Square and the O2 understood to remain
closed, according to Big Hospitality.

Busaba is the latest in a long line of casual dining chains to
restructure its business via a CVA in a bid to mitigate the impact
of the Coronavirus crisis, Big Hospitality relates.

CAFFE NERO: Landlord Lodges Claim for GBP135,389 Unpaid Rent
-------------------------------------------------------------
Sabah Meddings at The Sunday Times reports that Caffe Nero's battle
with its landlords is heating up after one lodged a court claim
against the coffee shop chain.

According to The Sunday Times, the Local Authorities' Mutual
Investment Trust, which invests on behalf of councils, is claiming
GBP135,389 unpaid rent on a Caffe Nero site in London.

The move follows complaints from the property owner that the chain
had refused to pay, The Sunday Times notes.

Caffe Nero is one of several operators to have clashed with
landlords over rent payments during the pandemic, The Sunday Times
discloses.  It has hired insolvency experts from KPMG and is
reportedly examining a company voluntary arrangement (CVA) to cut
rents and close cafes, The Sunday Times relates.

Restrictions on work and socializing have led to a crisis on the
high street, as brands struggle to stay afloat in the wake of
plunging footfall, The Sunday Times states.


CENTRAL NOTTINGHAMSHIRE HOSPITALS: S&P Cuts SPUR on Bonds to 'BB'
-----------------------------------------------------------------
S&P Global Ratings lowering its S&P Underlying Rating (SPUR) on the
bonds issued by Central Nottinghamshire Hospitals PLC (CNH or
ProjectCo) to 'BB' from 'BB+'.

The SPUR remains on CreditWatch with negative implications,
reflecting that S&P could lower the underlying rating further if,
during the next three-to-six months, CNH, Skanska, and the trust
are no closer to reaching a settlement agreement.

The 'AA' long-term issue rating on the bonds and the stable outlook
continue to reflect that on the bond insurer, Assured Guaranty
(Europe) PLC.

U.K.-based limited-purpose vehicle CNH issued a GBP351.9 million
index-linked senior secured bond (including a GBP32.0 million
variation bond) due 2042, to finance the design, construction, and
operations of the hospital facilities at three sites -- King's Mill
Hospital, Mansfield Community Hospital, and Newark General Hospital
-- for the trust and NHS Property Services Ltd. (formerly Mansfield
and Ashfield Clinical Commissioning Group).

The bonds were issued in 2005 under a 37-year private finance
initiative concession agreement. Construction was completed in
2011. Hard facilities management (FM) services are provided by SFS,
which is part of Skanska AB. Compass Contract Services (UK) Ltd.,
trading as Medirest Ltd., provides soft FM services.

Strengths

-- The senior debt benefits from a guarantee of payment from
Assured Guaranty (Europe) PLC (AGE).

-- An availability-based revenue stream with no exposure to volume
or market risk.

Risks

-- Weak performance in operations relative to the project
agreement's requirements has led to CNH incurring several service
failure points (SFPs).

-- The high number of SFPs led to a breach of the contractual
thresholds allowing the trust to terminate the project agreement
and creditors to accelerate the repayment of the senior debt due to
a persisting event of default.

-- Negotiations around settlement compensation have strained
relations between the parties.

-- ProjectCo retains the risk that required lifecycle expenditure
might exceed the budget.

No progress has been made to mitigate the event of default.  The
heads of terms of the settlement agreement--previously expected to
be signed by the end of September 2020--still have not been agreed,
and the commercial terms remain up for negotiation. In S&P's view,
further delays in settlement are likely due to parties redirecting
their priorities toward dealing with the second wave of COVID-19.

Under the settlement agreement, SFS was expected to pay to the
trust compensation for its underperformance. In return, the trust
would wipe out the accrued SFPs whose accrual over 2019 has several
times exceeded the event of default (EOD) level under the project
agreement. Triggering the EoD entitles the trust to terminate the
project finance initiative contract. An EoD under the collateral
deed gives rights to senior lenders to accelerate debt.

Performance of SFS has not materially improved.   Although SFS has
addressed the occurrence of legionella, the trust remains concerned
regarding its management of water. The trust is also questioning
the accuracy of SFS' reporting.

In August 2020, SFS accrued 4,150 SFPs for a broken lift (estates
service), thus triggering a warning notice (WN) under both the hard
services contract and the project agreement. In September, SFPs
were again above the WN threshold, although the trust has not
to-date issued another WN. The number of SFPs--at a rolling 48,516
in the 12 months to September 2020--continues to be above the
termination trigger under the project agreement (43,710 SFPs).

The trust has started to use contractually allowed tools to
incentivize improved project performance.   The trust's issuance of
a WN does not necessarily have any material consequences at this
point. While a WN would trigger increased monitoring on the
project, S&P notes that CNH is already under such regime, and that
an external consultant is already supporting SFS to improve its
operating performance. WN would also lead to a trigger event under
the collateral deed and result in a distribution lockup. S&P notes
that CNH has been in a lockup since December 2019. Lastly, while
the issuance of more than three WNs gives the trust the right to
terminate the service provider, it does not apply to estates or
general services.

S&P said, "Nevertheless, in our experience, a deterioration in the
relationship with the trust could preclude adverse actions toward
CNH and may over time heighten the risk of contract termination. We
are weakening our assessment of the project's business risk to '3'
from '2' to reflect a more challenging operating environment for
CNH."

The stable outlook on the long-term issue rating reflects the
outlook on the rating on the bond insurer, AGE, and will be revised
in line with any rating changes or outlook revisions on AGE.

S&P said, "The CreditWatch negative placement of the SPUR reflects
that we could lower the underlying rating further if, within the
next three-to-six months, CNH, SFS, and the trust are no closer to
reaching a settlement agreement. We would lower the rating by one
or more notches if slow progress in improving operating performance
and reaching the settlement agreement leads the trust to take steps
that could ultimately lead to the project's termination."


DELTIC GROUP: Seeks Buyer to Avert Bankruptcy, CVA Among Options
----------------------------------------------------------------
Rob Davies at The Guardian reports that the UK's largest nightclub
operator, Deltic Group, is seeking a buyer as it fights to stave
off bankruptcy after the seven-month closure of its venues during
the pandemic drained the business of cash.

Its chief executive, Peter Marks, lashed out at the government for
failing to offer more support to the nightclub industry, as he
confirmed the sale plan, The Guardian relates.

In an effort to ensure its survival, Deltic has already cut 1,000
staff -- about half its headcount -- and has repurposed parts of
its clubs as bars, allowing it to reopen 10% of total floor space,
The Guardian discloses.

But Mr. Marks said this was bringing in GBP80,000 a month, compared
with the GBP1 million that the company is burning through, leaving
it facing running out of cash by December, The Guardian notes.

Mr. Marks, as cited by The Guardian, said he was looking at every
option to secure the survival of the business, which runs 53 clubs,
including Pryzm in Birmingham and Eden in Newcastle and
Manchester.

The options could include a company voluntary arrangement (CVA) --
a form of insolvency that typically involves site closures and an
agreement from creditors to cut rents or fees, The Guardian
states.

But Mr. Marks, who told The Guardian in August that the company
could not survive without more state support, said he was also
exploring a sale.


PIZZAEXPRESS: To Cut Another 1,300 Jobs Across 370 UK Restaurants
-----------------------------------------------------------------
Yadarisa Shabong at Reuters reports that PizzaExpress said on Oct.
27 it would cut another 1,300 jobs across its 370 UK restaurants as
new coronavirus restrictions, especially in city centres, kept
consumers from eating out.

According to Reuters, the UK-based restaurant chain, which launched
a company voluntary arrangement (CVA) in August, said it had seen a
decline in diners nationwide since September, while seating
capacity has already been slashed due to social-distancing measures
in place since the summer.

The privately held company in August permanently closed 73 UK
outlets, impacting 1,100 jobs due to higher costs and lower demand
during lockdowns, Reuters relates.


TASTY: Reports GBP11MM Post-Tax Losses, Hopes to Avert CVA
----------------------------------------------------------
Katherine Price at The Caterer reports that Tasty, the operator of
brands including Wildwood and Dim T, has reported post-tax losses
of GBP11 million in a trading update, but said that it hopes to
avoid a company voluntary arrangement (CVA).

According to The Caterer, the group said that all options were
being explored, but "with creditor assistance, a more formal
procedure such as a CVA, may be avoided".

Of its 55 restaurants, 48 are open and trading, The Caterer
discloses.  One in Wales has been closed due to the national
lockdown, and there are "no immediate plans" to reopen the
remaining six closed sites, which Tasty said are at risk of
permanent closure, The Caterer notes.

In the group's interim results for the first six months of the
year, the company reported revenue of GBP8.7 million, significantly
down on 2019 revenue of GBP21.1 million due to the Covid-19
outbreak, The Caterer states.

The business employs approximately 700 people and has agreed rent
reductions and lease concessions on several sites, The Caterer
relays.  The directors expressed "a reasonable expectation that the
group has adequate resources to continue in operational existence
for the foreseeable future", The Caterer notes.

However, they conceded that the outlook for the sector remains
"extremely challenging and uncertain" and as announced last month,
while no decision has been made regarding a restructure or CVA,
Tasty is continuing to work with strategic advisers at KPMG to
assess the impact of Covid-19 on the business and the options
available, The Caterer recounts.


[*] UK: Coach Companies May Face Collapse, Seek Government Help
---------------------------------------------------------------
Michael Hamilton at BBC News reports that coach companies have
again warned they face collapse if they do not receive urgent help
from the government following a slump in business during the
coronavirus outbreak.

Many firms are paying thousands of pounds in finance deals for
vehicles that are not bringing money in, BBC discloses.

According to BBC, Jenna Rush, managing director of North East Coach
Travel in Newcastle, called on ministers to encourage lenders to
give longer, and backdated, payment holidays.

The Department for Transport (DfT) said it would "continue to work
closely with the sector", BBC relates.

Coach firms have warned for months they have not received the same
financial support as bus companies to cover the loss of earnings
caused by the cancellation of day trips and reduced capacities to
allow for social distancing, BBC discloses.

Matt Rodda MP, Labour's shadow minister for buses and local
transport, called for industry-specific support and "clearer
guidance" to operators around social distancing, BBC states.




===============
X X X X X X X X
===============

[*] BOND PRICING: For the Week October 26 to October 30, 2020
-------------------------------------------------------------
Issuer               Coupon  Maturity  Currency  Price
------               ------  --------  --------  -----
Selecta Group BV      5.875   02/01/2024  EUR   37.524
Deutsche Lufthansa    5.125   08/12/2075  EUR   72.640
Takko Luxembourg 2    5.375  11/15/2023   EUR   29.040
Vedanta Resources L   8.250   06/07/2021  USD   70.180
Vedanta Resources L   6.375   7/30/2022   USD   57.330
Vedanta Resources L   6.125   08/09/2024  USD   49.107
Gol Finance SA        7.000   1/31/2025   USD   46.012
Atento Luxco 1 SA     6.125   08/10/2022  USD   73.441
Ellaktor Value Plc    6.375  12/15/2024   EUR   73.875
Intelsat Jackson Ho   5.500   08/01/2023  USD   53.000
Mclaren Finance PLC   5.000   08/01/2022  GBP   57.065
Intelsat Jackson Ho   8.500  10/15/2024   USD   57.250
Vedanta Resources F   9.250   4/23/2026   USD   52.570
Carnival PLC          1.000  10/28/2029   EUR   60.487
Europcar Mobility G   4.125  11/15/2024   EUR   63.866
Genfit                3.500  10/16/2022   EUR   10.028
Argentum Netherland   0.500   10/02/2024  EUR   63.204
Adler Pelzer Holdin   4.125   04/01/2024  EUR   47.117
Deutsche Bank AG      4.789               USD   68.055
DTEK Finance PLC     10.750  12/31/2024   USD   50.742
Vallourec SA          6.625  10/15/2022   EUR   64.150
International Perso   5.750   04/07/2021  EUR   64.783
Intelsat SA           4.500   6/15/2025   USD   22.250
CMA CGM SA            5.250   1/15/2025   EUR   70.373
Norwegian Air Shutt   7.250   11/11/2022  EUR   32.629
Banco BPM SpA         6.125               EUR   66.518
Banca Monte dei Pas   5.375   1/18/2028   EUR   79.424
Transportes Aereos    5.625   12/02/2024  EUR   56.440
Vedanta Resources F   8.000   4/23/2023   USD   51.804
Codere Finance 2 Lu   6.750   11/01/2021  EUR   46.492
Vedanta Resources L   7.125   5/31/2023   USD   51.573
Intelsat Luxembourg   8.125   06/01/2023  USD    5.750
Swissport Financing   9.000   2/15/2025   EUR    7.442
Kirk Beauty One Gmb   8.750   7/15/2023   EUR   46.853
Tullow Oil PLC        7.000   03/01/2025  USD   55.398
Kongsberg Actuation   5.000   7/15/2025   EUR   62.130
AerCap Holdings NV    5.875   10/10/2079  USD   69.388
Obrascon Huarte Lai   4.750   3/15/2022   EUR   40.396
Mitsubishi UFJ Inve   4.221  12/15/2050   EUR   50.450
Intelsat Jackson Ho   9.750   7/15/2025   USD   58.000
Selecta Group BV      5.375   02/01/2024  EUR   37.425
Intelsat Connect Fi   9.500   2/15/2023   USD   25.000
Sarens Finance Co N   5.750   2/21/2027   EUR   70.316
Andrade Gutierrez I   9.500  12/30/2024   USD   64.732
Europcar Mobility G   4.000   4/30/2026   EUR   58.561
Explorer II AS        3.375   2/24/2025   EUR   74.834
Promontoria Holding   6.750   8/15/2023   EUR   64.752
Unigel Luxembourg S   8.750   10/01/2026  USD   74.526
Piraeus Bank SA       5.500   2/19/2030   EUR   61.175
InterCement Financi   5.750   7/17/2024   USD   44.566
Swissport Financing   5.250   8/15/2024   EUR   75.959
Jaguar Land Rover A   2.200   1/15/2024   EUR   74.747
Petra Diamonds US T   7.250   05/01/2022  USD   37.330
La Financiere Atali   4.000   5/15/2024   EUR   57.880
Aryzta AG             5.468               CHF   56.224
Tereos Finance Grou   4.125   6/16/2023   EUR   70.985
Travelex Financing    8.000   5/15/2022   EUR   25.725
Takko Luxembourg 2    5.375  11/15/2023   EUR   27.583
Marcolin SpA          4.125   2/15/2023   EUR   70.666
Jaguar Land Rover A   4.500   1/15/2026   EUR   74.076
MSC Cruises SA        3.000   7/14/2023   CHF   48.000
Selecta Group BV      5.875   02/01/2024  CHF   35.659
Aegon NV              0.046               EUR   62.618
Tullow Oil PLC        6.250   4/15/2022   USD   65.861
Vallourec SA          6.375  10/15/2023   EUR   59.758
Aegon NV              0.915               USD   67.406
MSC Cruises SA        3.000  11/30/2021   CHF   54.133
Metro Bank PLC        9.500   10/08/2025  GBP   73.361
Casino Guichard Per   0.945               EUR   27.508
Naviera Armas SA      6.500   7/31/2023   EUR   50.067
Signet UK Finance P   4.700   6/15/2024   USD   61.905
Obrascon Huarte Lai   5.500   3/15/2023   EUR   39.974
Raffinerie Heide Gm   6.375   12/01/2022  EUR   60.964
Norwegian Air Shutt   6.375  11/15/2024   USD   23.515
Novafives SAS         5.000   6/15/2025   EUR   68.871
Korian SA             0.875   03/06/2027  EUR   49.459
Banca Monte dei Pas   8.000   1/22/2030   EUR   88.938
Maxeda DIY Holding    6.125   7/15/2022   EUR   70.034
Vallourec SA          2.250   9/30/2024   EUR   54.105
Vallourec SA          4.125   10/04/2022  EUR    3.683
Hema Bondco I BV      6.250   7/15/2022   EUR   45.627
Moby SpA              7.750   2/15/2023   EUR   31.750
Sudzucker Internati   2.747               EUR   73.708
International Airpo  12.000   3/15/2033   USD   66.631
Summer BC Holdco A    9.250  10/31/2027   EUR   73.815
Global Liman Isletm   8.125  11/14/2021   USD   59.855
Corestate Capital H   1.375  11/28/2022   EUR   72.136
Distribuidora Inter   1.000   4/28/2021   EUR   72.299
Matalan Finance PLC   6.750   1/31/2023   GBP   59.250
Piraeus Bank SA       9.750   6/26/2029   EUR   71.962
LSF9 Balta Issuer S   7.750   9/15/2022   EUR   49.201
ING Groep NV          0.310               EUR   74.301
AXA SA                1.604               USD   64.883
Premier Oil PLC       6.500   5/31/2021   GBP   65.364
KME SE                6.750   02/01/2023  EUR   43.624
Intu SGS Finance PL   3.875   3/17/2023   GBP   58.281
Valaris plc           5.750   10/01/2044  USD    7.887
Newday Bondco Plc     7.375   02/01/2024  GBP   74.200
Alpha Bank AE         4.250   2/13/2030   EUR   75.875
Norwegian Air Shutt   5.216   02/07/2023  SEK   50.000
BNP Paribas Fortis    1.592               EUR   70.130
Intralot Capital Lu   6.750   9/15/2021   EUR   40.782
Valaris plc           7.750   02/01/2026  USD    6.137
Intelsat Luxembourg   7.750   06/01/2021  USD    5.000
Frigoglass Finance    6.875   02/12/2025  EUR   65.000
Swissport Investmen   6.750  12/15/2021   EUR   24.532
Neoen SA              2.000   06/02/2025  EUR   46.540
Rallye SA             4.000   04/02/2021  EUR   17.806
Casino Guichard Per   3.992               EUR   43.546
Naviera Armas SA      4.250  11/15/2024   EUR   48.537
Pro-Gest SpA          3.250  12/15/2024   EUR   54.833
Mallinckrodt Intern   5.750   08/01/2022  USD   22.280
Maisons du Monde SA   0.125   12/06/2023  EUR   33.992
Tendam Brands SAU     5.000   9/15/2024   EUR   69.641
Paper Industries In   6.000   03/01/2025  EUR   66.625
Republic of Angola    6.388   12/07/2023  USD   61.125
SGL Carbon SE         3.000   9/20/2023   EUR   61.497
Nostrum Oil & Gas F   8.000   7/25/2022   USD   23.809
Mclaren Finance PLC   5.750   08/01/2022  USD   57.705
Air France-KLM        0.125   3/25/2026   EUR   13.030
Pizzaexpress Financ   6.625   08/01/2021  GBP   59.495
SGL Carbon SE         4.625   9/30/2024   EUR   74.838
Solocal Group         8.000   3/15/2022   EUR   39.504
Banque Federative d   0.181               EUR   68.910
Hurricane Energy PL   7.500   7/24/2022   USD   45.348
Pacific Drilling SA   8.375   10/01/2023  USD   22.184
ASG Finance Designa   7.875   12/03/2024  USD   55.149
Valaris plc           4.875   06/01/2022  USD    9.551
KCA Deutag UK Finan   9.625   04/01/2023  USD   44.346
Nexity SA             0.125   01/01/2023  EUR   55.913
AXA SA                0.078               EUR   65.978
Norican A/S           4.500   5/15/2023   EUR   66.795
Groupe Ecore Holdin   6.250  11/15/2023   EUR   54.292
Metro Bank PLC        5.500   6/26/2028   GBP   44.559
4finance SA          10.750   05/01/2022  USD   68.951
Astaldi SpA           7.125   12/01/2020  EUR    9.731
Rothschild & Co Con   1.313               USD   64.835
B2Holding ASA         6.350   5/28/2024   EUR   74.612
Mclaren Finance PLC   5.750   08/01/2022  USD   56.526
Odea Bank AS          7.625   08/01/2027  USD   55.557
Hema Bondco II BV     8.500   1/15/2023   EUR    3.266
La Financiere Atali   5.125   5/15/2025   EUR   60.743
International Perso   7.750  12/14/2023   GBP   69.793
SAS AB                5.375  11/24/2022   SEK   75.000
Norwegian Air Shutt   4.875   05/10/2028  USD   64.000
AXA SA                0.870               USD   71.698
CNP Assurances        0.240               EUR   72.341
Boparan Finance PLC   4.375   7/15/2021   EUR   74.833
Valaris plc           4.700   3/15/2021   USD    6.860
GOL Equity Finance    3.750   7/15/2024   USD   45.014
Koninklijke BAM Gro   3.500   6/13/2021   EUR   69.131
Mallinckrodt Intern   4.750   4/15/2023   USD   21.265
O1 Properties Finan   8.250   9/27/2021   USD   31.500
Intralot Capital Lu   5.250   9/15/2024   EUR   21.028
Fugro NV              4.000  10/26/2021   EUR   72.963
Distribuidora Inter   0.875   04/06/2023  EUR   43.702
Ilija Batljan Inves   6.079   9/27/2022   SEK   82.801
Ageasfinlux SA        1.053               EUR   57.437
Nostrum Oil & Gas F   7.000   2/16/2025   USD   23.908
Valaris plc           8.000   1/31/2024   USD    6.591
Cabonline Group Hol   7.603   12/09/2022  SEK   57.259
Aker Solutions ASA    3.280   06/03/2024  NOK   72.204
Ferroglobe PLC / Gl   9.375   03/01/2022  USD   33.105
Rallye SA             4.371   1/23/2023   EUR   18.002
Akka Technologies     3.500               EUR   60.568
Officine Maccaferri   5.750   06/01/2021  EUR   36.219
SAS AB                8.569               SEK   61.000
Amigo Luxembourg SA   7.625   1/15/2024   GBP   74.196
Neoen SA              1.875   10/07/2024  EUR   37.500
OKEA ASA              8.750   12/11/2024  USD   70.000
Saga PLC              3.375   05/12/2024  GBP   73.038
Intu Metrocentre Fi   4.125   12/06/2023  GBP   58.182
OKEA ASA              7.875   6/28/2023   USD   70.503
NIBC Bank NV          1.320               USD   62.201
KCA Deutag UK Finan   7.250   5/15/2021   USD   42.604
Cooperativa Murator   6.000   2/15/2023   EUR    2.705
AnaCap Financial Eu   5.000   08/01/2024  EUR   75.155
FIGEAC-AERO           1.125  10/18/2022   EUR   22.843
Promontoria Holding   6.250   8/15/2023   EUR   63.721
Codere Finance 2 Lu   7.625   11/01/2021  USD   45.020
Aryzta AG             3.640               CHF   60.949
Fuerstenberg Capita   5.625               EUR   66.395
Korian SA             2.500               EUR   40.642
Banco BPM SpA         1.487               EUR   72.663
Econocom Group SA/N   0.500   03/06/2023  EUR    6.590
Tendam Brands SAU     5.250   9/15/2024   EUR   68.634
Dignity Finance PLC   4.696  12/31/2049   GBP   75.317
Abengoa Abenewco 2    1.500   4/26/2024   EUR    2.841
AXA SA                0.580               EUR   65.206
Valaris plc           4.500   10/01/2024  USD    7.468
Debenhams PLC         5.250   7/15/2021   GBP    3.827
Codere Finance 2 Lu   7.625   11/01/2021  USD   40.937
ADLER Real Estate A   2.500   7/19/2021   EUR   14.450
Quadient              3.375               EUR   55.086
Rothschild & Co Con   0.310               EUR   63.402
Intu SGS Finance PL   4.250   9/17/2030   GBP   56.750
Valaris plc           5.200   3/15/2025   USD    6.285
Jain International    7.125   02/01/2022  USD   29.263
Societe Generale SA   0.623               USD   74.000
Novafives SAS         4.500   6/15/2025   EUR   68.916
Midsummer AB          8.826   4/25/2023   SEK   47.563
KCA Deutag UK Finan   9.875   04/01/2022  USD   43.843
Greenyard Fresh NV    3.750  12/22/2021   EUR   69.649
HOCHDORF Holding AG   2.500               CHF   59.241
MCH Group AG          1.875   5/16/2023   CHF   68.560
Thomas Cook Group P   6.250   6/15/2022   EUR    5.000
Republic of Angola    6.927   2/19/2027   USD   67.000
VIC Properties SA     3.000   5/28/2025   EUR   75.000
F-Brasile SpA / F-B   7.375   8/15/2026   USD   73.208
Mallinckrodt Intern   5.500   4/15/2025   USD   20.858
AX Del1 Oy            5.000   4/19/2021   EUR   63.723
Atento Luxco 1 SA     6.125   08/10/2022  USD   71.619
Pierre & Vacances S   2.000   04/01/2023  EUR   50.858
MPC Container Ships   5.945   9/22/2022   USD   74.000
Mallinckrodt Intern  10.000   4/15/2025   USD   66.376
Biocartis NV          4.000   05/09/2024  EUR   59.405
Promontoria MMB SAS   8.000               EUR   70.948
Offshore Drilling H   8.375   9/20/2020   USD   24.100
Valaris plc           5.850   1/15/2044   USD   10.210
Banco Santander SA    0.143               EUR   71.876
Union Fenosa Prefer   1.301               EUR   71.920
Nexity SA             0.250   03/02/2025  EUR   55.776
Host Property AB      6.684  11/28/2022   SEK   61.666
Mallinckrodt Intern   5.625  10/15/2023   USD   23.090
Rallye SA             5.250   02/01/2022  EUR   17.783
Senvion Holding Gmb   3.875  10/25/2022   EUR    4.137
European TopSoho Sa   4.000   9/21/2021   EUR   53.560
EA Partners I BV      6.875   9/28/2020   USD   31.000
Hoist Finance AB      7.750               EUR   65.396
Matalan Finance PLC   9.500   1/31/2024   GBP   29.188
Boparan Finance PLC   5.500   7/15/2021   GBP   75.992
Turkish Airlines 20   4.200   3/15/2027   USD   74.448
Cooperativa Murator   6.875   08/01/2022  EUR    2.760
Swissport Investmen   9.750  12/15/2022   EUR   13.210
Rallye SA             3.250   02/08/2024  CHF   20.506
Ziton A/S             7.900   10/03/2022  EUR   70.224
Petra Diamonds US T   7.250   05/01/2022  USD   37.377
Jaguar Land Rover A   4.500   10/01/2027  USD   67.267
Thomas Cook Finance   3.875   7/15/2023   EUR    3.360
Valaris plc           7.375   6/15/2025   USD    8.257
Kudelski SA           1.500   9/27/2024   CHF   52.298
Vedanta Resources F   9.250   4/23/2026   USD   52.209
Cembrit Group A/S     5.500   3/20/2021   EUR   66.392
Songa Container AS    6.741  12/14/2021   USD   70.000
Independent Oil & G   9.500   9/20/2024   EUR   68.208
Norwegian Air Shutt   7.500   11/10/2023  USD   65.250
Caisse Federale du    0.018               EUR   71.259
Metalcorp Group SA    7.000   06/06/2022  EUR   70.053
Sydbank A/S           0.069               EUR   74.162
Intu Debenture PLC    5.562  12/31/2027   GBP   58.250
Quant AB              6.000   2/15/2023   EUR   59.596
Gol Finance SA        7.000   1/31/2025   USD   45.937
Lehman Brothers UK    5.125               EUR    8.125
Santhera Pharmaceut   5.000   2/17/2022   CHF   55.771
DOF Subsea AS         9.500   3/14/2022   USD   21.008
Stockmann OYJ Abp    10.750               EUR   15.000
Newday Bondco Plc     7.053   02/01/2023  GBP   74.860
European Directorie   8.500   06/09/2021  EUR   70.000
Intelsat Jackson Ho   8.500  10/15/2024   USD   59.000
Koninklijke Luchtva   0.750               CHF   33.000
Intu SGS Finance PL   4.625   3/17/2028   GBP   57.722
Intelsat Connect Fi   9.500   2/15/2023   USD   16.000
Galapagos Holding S   7.000   6/15/2022   EUR    7.704
Fugro NV              4.500   11/02/2024  EUR   60.097
Axactor SE            7.000   6/23/2021   EUR   70.000
Rallye SA             4.000  11/23/2020   CHF   20.266
Groupe Acrotec SA     3.500  10/16/2025   CHF   67.833
Alitalia-Societa Ae   5.250   7/30/2020   EUR    1.841
Banco Espirito Sant   4.000   1/21/2019   EUR   25.326
Atento Luxco 1 SA     6.125   08/10/2022  USD   60.250
Shawbrook Group PLC   7.875               GBP   68.635
EA Partners II BV     6.750   06/01/2021  USD   48.529
Air Berlin PLC        8.250   4/19/2018   EUR    1.623
Jyske Bank A/S        0.366               EUR   73.622
Pizzaexpress Financ   8.625   08/01/2022  GBP   12.298
Solstad Offshore AS   4.620   9/24/2021   NOK    4.625
Grupo Isolux Corsan   1.000  12/30/2021   EUR    0.294
Steinhoff Finance H   1.250  10/21/2023   EUR   43.000
Vedanta Resources L   6.375   7/30/2022   USD   56.864
Scandinavian Airlin   0.625               CHF   29.334
Groupe Acrotec SA     3.750   6/14/2023   CHF   65.468
Prime Living AB       4.811   9/29/2022   SEK   47.091
Privatbank CJSC Via  10.250   1/23/2018   USD   30.747
Banco Espirito Sant   2.625   05/08/2017  EUR   17.048
Paragon GmbH & Co K   4.500   07/05/2022  EUR   44.623
Vedanta Resources L   8.250   06/07/2021  USD   70.197
Hellenic Bank PCL    10.000               EUR   49.393
Tulip Oil Netherlan   8.500  10/25/2022   EUR   83.741
La Financiere Atali   6.625   5/15/2025   GBP   67.594
Deutsche Bank AG/Lo   0.806  10/31/2034   USD   66.625
Turkish Airlines 20   4.200   3/15/2027   USD   74.448
Immigon Portfolioab   5.980               EUR   15.097
Ferroglobe PLC / Gl   9.375   03/01/2022  USD   33.818
Astaldi SpA           4.875   6/21/2024   EUR    7.350
Selecta Group BV      5.875   02/01/2024  EUR   37.980
FF Group Finance Lu   3.250   11/02/2021  CHF    8.618
Republic of Angola    9.412   07/01/2023  USD   61.125
Care Bidco AS         6.620   3/24/2021   NOK   48.109
Valaris plc           4.750   1/15/2024   USD    9.312
Mitchells & Butlers   2.612   6/15/2036   GBP   70.846
Dexia Credit Local    1.468               EUR    6.706
Barclays Bank PLC     0.824   7/31/2034   USD   67.100
FF Group Finance Lu   1.750   07/03/2019  EUR    5.878
Bourbon Corp          6.446               EUR    0.266
Valaris plc           5.400   12/01/2042  USD   11.659
EOS Imaging SA        6.000   5/31/2023   EUR    4.887
Stobart Finance PLC   2.750   05/08/2024  GBP   58.000
KCA Deutag UK Finan   9.625   04/01/2023  USD   44.294
GOL Equity Finance    3.750   7/15/2024   USD   78.127
Wasps Finance Plc     6.500   5/13/2022   GBP   45.684
Tullow Oil PLC        6.250   4/15/2022   USD   65.861
Vedanta Resources L   6.125   08/09/2024  USD   49.391
KCA Deutag UK Finan   9.875   04/01/2022  USD   42.365
Tullow Oil PLC        7.000   03/01/2025  USD   55.826
KCA Deutag UK Finan   7.250   5/15/2021   USD   42.486
LA Perla Fashion Fi   7.250   3/29/2023   EUR   49.623
Yell Bondco PLC       8.500   05/02/2023  GBP   38.028
Lambay Capital Secu   6.250               GBP    0.844
Eramet                4.000               EUR   52.027
Ellaktor Value Plc    6.375  12/15/2024   EUR   75.250
Transcapitalbank JS  10.000   9/18/2020   USD   55.500
Grupo Isolux Corsan   6.000  12/30/2021   EUR    0.307
NIBC Bank NV          0.193               EUR   62.921
Abengoa Abenewco 2    1.500   4/26/2024   USD    2.817
SLM Solutions Group   5.500   10/11/2022  EUR   70.956
BIM SAS               2.500  11/13/2020   EUR   22.014
Jacktel AS           10.000   12/04/2023  USD   15.000
Rickmers Holding AG   8.875   06/11/2018  EUR    1.152
Rallye SA             3.400   1/31/2022   EUR   18.000
DOF Subsea AS         7.760   9/30/2020   NOK   20.000
Mitsubishi UFJ Inve   4.002  12/30/2099   EUR    4.194
YA Holding AB         3.278   6/18/2022   SEK   53.304
Hoist Finance AB      8.625               EUR   69.671
Fuerstenberg Capita   1.287               EUR   64.969
Mclaren Finance PLC   5.750   08/01/2022  USD   57.091
Air Berlin PLC        6.750   05/09/2019  EUR    1.259
Credit Mutuel Arkea   0.316               EUR   67.023
Stichting Afwikkeli   6.250  10/26/2020   EUR    1.426
Dexia SA              1.519               EUR    7.431
OP Corporate Bank p   0.132               EUR   73.614
Mclaren Finance PLC   5.000   08/01/2022  GBP   57.771
Uppfinnaren 1 AB     11.000               SEK   44.092
Bilt Paper BV         9.640               USD    1.021
House of Fraser Fun   5.978   9/15/2020   GBP    3.433
Kredyt Inkaso SA      5.610   4/26/2023   PLN   70.500
Bank Otkritie Finan  10.000   4/26/2019   USD    9.505
Tresu Investment Ho   5.000   9/29/2022   EUR   41.625
DNB Bank ASA          1.750               USD   68.299
Andrade Gutierrez I   9.500  12/30/2024   USD   62.251
CMA CGM SA            5.250   1/15/2025   EUR   70.530
Avangardco Investme  10.000  10/29/2018   USD    3.800
Pacific Drilling SA   8.375   10/01/2023  USD   21.836
Mallinckrodt Intern   5.750   08/01/2022  USD   24.495
UkrLandFarming PLC   10.875   3/26/2018   USD    4.221
Agrokor dd            9.875   05/01/2019  EUR   10.500
Orient Express Bank  10.000               USD   45.089
Air Berlin PLC        5.625   05/09/2019  CHF    0.709
OGX Austria GmbH      8.500   06/01/2018  USD    0.001
GEWA 5 to 1 GmbH &    6.500   3/24/2018   EUR    4.510
JZ Capital Partners   6.000   7/30/2021   GBP    9.200
Norwegian Air Shutt   4.875   05/10/2028  USD   65.243
Virgolino de Olivei  10.500   1/28/2018   USD    0.849
Intelsat Jackson Ho   9.750   7/15/2025   USD   61.250
Rallye SA             1.000   10/02/2020  EUR   22.419
Cirio Holding Luxem   6.250   2/16/2004   EUR    0.942
Virgolino de Olivei  11.750   02/09/2022  USD    0.943
Allied Irish Banks   12.500   6/25/2035   GBP   61.971
Banca Popolare di V   9.500   9/29/2025   EUR    0.046
Afren PLC             6.625   12/09/2020  USD    0.070
4finance SA          10.750   05/01/2022  USD   68.976
CNP Assurances        2.000               EUR   50.000
Banco Espirito Sant   4.750   1/15/2018   EUR   25.599
Selecta Group BV      5.875   02/01/2024  CHF   36.381
Abengoa Abenewco 2    1.500   4/26/2024   USD    3.531
Barclays Bank PLC     0.604  11/29/2030   USD   70.319
Stichting Afwikkeli  11.250               EUR    1.210
InterCement Financi   5.750   7/17/2024   USD   43.575
KTG Agrar SE          7.125   06/06/2017  EUR    1.136
Transportes Aereos    5.625   12/02/2024  EUR   57.214
Vedanta Resources F   8.000   4/23/2023   USD   52.022
International Indus   9.000   07/06/2011  EUR    0.081
DNB Bank ASA          0.621               USD   68.470
Yuksel Insaat AS      9.500   11/10/2015  USD    1.252
CBo Territoria        3.750   07/01/2024  EUR    4.410
Enertronica Santern   7.000  12/31/2022   EUR   34.490
Unigel Luxembourg S   8.750   10/01/2026  USD   74.135
BBVA International    1.527               GBP   65.000
Intelsat Jackson Ho   9.750   7/15/2025   USD   58.597
Paper Industries In   6.000   03/01/2025  EUR   67.000
ASG Finance Designa   7.875   12/03/2024  USD   55.139
Solship Invest 1 AS   5.000   12/08/2024  NOK   11.917
GNB - Cia de Seguro   3.092               EUR   69.905
Corporate Commercia   8.250   08/08/2014  USD    0.836
Prime Living AB       7.339  10/19/2023   SEK    3.793
Takko Luxembourg 2    5.375  11/15/2023   EUR   29.999
OGX Austria GmbH      8.375   04/01/2022  USD    0.010
Europcar Mobility G   4.125  11/15/2024   EUR   64.070
BOA Offshore AS       0.409   7/17/2047   NOK    6.868
Vedanta Resources L   7.125   5/31/2023   USD   51.303
Nostrum Oil & Gas F   8.000   7/25/2022   USD   23.920
Aralco Finance SA    10.125   05/07/2020  USD    0.934
Norwegian Air Shutt   7.500   11/10/2023  USD   65.250
Paragon GmbH & Co K   4.000   4/23/2024   CHF   40.000
Depfa Funding II LP   6.500               EUR   57.819
Lehman Brothers UK    3.875               EUR    8.125
Mitchells & Butlers   2.362   9/15/2034   GBP   73.400
Brado AB              8.603   06/07/2023  SEK   69.774
Privatbank CJSC Via  11.000   02/09/2021  USD    9.248
Banco Espirito Sant   7.125  11/28/2023   EUR    0.563
International Indus  11.000   2/19/2013   USD    0.081
Russian Federal Bon   0.250   7/20/2044   RUB   27.466
Espirito Santo Fina   6.875  10/21/2019   EUR    0.068
Alno AG               8.500   5/14/2018   EUR   13.743
DNB Bank ASA          1.740               USD   68.457
Breeze Finance SA     6.708   4/19/2027   EUR   28.950
Barclays Bank PLC     0.400   5/31/2033   USD   54.235
Banca Popolare di V   2.821  12/20/2017   EUR    0.100
Lehman Brothers UK    6.900               USD    2.745
Portugal Telecom In   6.250   7/26/2016   EUR    0.612
Civitas Properties    4.000  11/24/2022   EUR   54.500
Global Liman Isletm   8.125  11/14/2021   USD   58.296
Claranova SADIR       5.000   07/01/2023  EUR    1.100
New World Resources   4.000   10/07/2020  EUR    1.217
Hellenic Republic G   2.085   7/25/2057   EUR   50.375
HPI AG                3.500               EUR    3.000
Swissport Financing   9.000   2/15/2025   EUR    7.257
DOF Subsea AS         8.280  11/27/2023   NOK   13.054
Swissport Financing   5.250   8/15/2024   EUR   78.340
UniCredit Bank AG     0.483  11/19/2029   EUR   58.160
Vallourec SA          6.625  10/15/2022   EUR   63.495
Promontoria Holding   6.750   8/15/2023   EUR   72.496
Vallourec SA          4.125   08/02/2027  EUR   52.745
Kaupthing ehf         7.625   2/28/2015   USD    0.250
F-Brasile SpA / F-B   7.375   8/15/2026   USD   73.249
Agrokor dd            9.125   02/01/2020  EUR   10.179
ESFIL-Espirito Sant   5.250   06/12/2015  EUR    0.107
Barclays Bank PLC     3.663   3/27/2029   USD   59.391
Mallinckrodt Intern   5.500   4/15/2025   USD   20.858
Banco Espirito Sant   2.343               EUR    0.042
HI Bidco AS           6.060  10/30/2022   NOK   51.031
Selecta Group BV      5.375   02/01/2024  EUR   37.770
International Airpo  12.000   3/15/2033   USD   66.686
New World Resources   8.000   04/07/2020  EUR    0.447
Societe Centrale de   2.500   5/15/2023   EUR    6.780
Deutsche Bank AG      0.687   10/11/2049  EUR   72.646
Havila Shipping ASA   5.000   11/07/2020  NOK   60.000
Kaupthing ehf         5.750   10/04/2011  USD    0.250
Hamon & CIE SA        3.300   1/30/2025   EUR   44.750
Praktiker AG          5.875   02/10/2016  EUR    0.069
Verimatrix SA         6.000   6/29/2022   EUR    3.852
KPNQwest NV          10.000   3/15/2012   EUR    0.076
Virgolino de Olivei  10.875   1/13/2020   USD   26.625
Portigon AG           7.460   06/01/2020  EUR   18.000
Mallinckrodt Intern  10.000   4/15/2025   USD   66.433
Cooperatieve Raboba   0.500   2/26/2029   HUF   70.380
Hellas Telecommunic   6.054   1/15/2015   USD    0.018
Region of Piemont I   0.010  11/27/2036   EUR   65.179
CRC Breeze Finance    6.110   05/08/2026  EUR   50.500
Privatbank CJSC Via  10.875   2/28/2018   USD   30.293
Intralot Capital Lu   6.750   9/15/2021   EUR   40.782
Top Gun Realisation   8.000   07/01/2023  GBP    1.509
Manchester Building   6.750               GBP   18.783
LBI ehf               6.100   8/25/2011   USD    7.375
Rena GmbH             8.250   07/11/2018  EUR    2.096
Afren PLC            11.500   02/01/2016  USD    0.062
German Pellets GmbH   7.250  11/27/2019   EUR    0.311
Societe Generale SA  10.000   6/28/2034   USD   62.900
Alpine Holding GmbH   6.000   5/22/2017   EUR    0.172
Banco Espirito Sant   2.523               EUR    0.159
Nostrum Oil & Gas F   7.000   2/16/2025   USD   23.944
Norske Skogindustri   7.000  12/30/2026   EUR    0.135
Agrokor dd            8.875   02/01/2020  USD   10.838
Agatos SpA            4.750  12/31/2026   EUR   73.500
Espirito Santo Fina   9.750  12/19/2025   EUR    1.144
Takko Luxembourg 2    5.375  11/15/2023   EUR   22.375
Cooperatieve Raboba   0.500  10/30/2043   MXN   20.185
Cirio Finance Luxem   7.500   11/03/2002  EUR    1.364
Saleza AS             9.000   07/12/2021  EUR    0.213
O1 Properties Finan   8.250   9/27/2021   USD   20.255
HI Bidco AS           8.560   1/30/2023   NOK   13.617
Barclays Bank PLC     0.473   3/21/2031   USD   65.588
Kongsberg Actuation   5.000   7/15/2025   EUR   62.300
Hema Bondco II BV     8.500   1/15/2023   EUR    7.030
F-Brasile SpA / F-B   7.375   8/15/2026   USD   80.030
International Finan   0.500   6/29/2027   ZAR   58.334
Hellas Telecommunic   8.500  10/15/2013   EUR    0.497
Naviera Armas SA      6.500   7/31/2023   EUR   50.709
Adler Pelzer Holdin   4.125   04/01/2024  EUR   48.000
Banco Espirito Sant   6.875   7/15/2016   EUR   25.735
Vallourec SA          6.375  10/15/2023   EUR   59.712
Societe Generale SA  21.000   3/30/2023   USD   72.500
Waste Italia SpA     10.500  11/15/2019   EUR    0.608
Kancelaria Medius S   6.900   07/05/2020  PLN   65.300
Hamburgische Landes   0.134   1/22/2041   EUR   66.253
UniCredit Bank AG     8.900  12/29/2020   EUR   26.910
Norske Skogindustri   2.000  12/30/2115   EUR    0.041
Jaguar Land Rover A   4.500   1/15/2026   EUR   74.995
Cooperatieve Raboba   0.500  10/29/2027   MXN   61.991
APP International F  11.750   10/01/2005  USD    0.362
German Pellets GmbH   7.250   07/09/2018  EUR    0.607
Europcar Mobility G   4.000   4/30/2026   EUR   58.625
Danske Bank A/S       6.400   07/09/2025  SEK   74.250
Kancelaria Medius S   7.260   03/07/2021  PLN   52.100
Activa Resources AG   0.500  11/15/2021   EUR    1.500
Banco Espirito Sant   6.900   6/28/2024   EUR   19.327
Dr Wiesent Sozial g   7.000               EUR   10.000
Afren PLC            10.250   04/08/2019  USD    0.062
Commerzbank AG        0.453  11/19/2029   EUR   60.668
Newday Bondco Plc     7.375   02/01/2024  GBP   74.876
Veneto Banca SpA      9.500   12/01/2025  EUR    0.787
Steilmann SE          7.000   03/09/2017  EUR    1.429
Norske Skogindustri   7.125  10/15/2033   USD    0.135
Decipher Production  12.500   9/27/2019   USD    1.500
Espirito Santo Fina   3.125   12/02/2018  EUR    1.099
Erotik-Abwicklungsg   7.750   07/09/2019  EUR    0.779
Offshore Drilling H   8.375   9/20/2020   USD   22.712
Raiffeisen Switzerl   6.000  10/28/2020   EUR   53.050
Lehman Brothers UK    5.750               EUR    2.117
Jaguar Land Rover A   5.875  11/15/2024   EUR   76.484
WPE International C  10.375   9/30/2020   USD    0.023
Linas Matkasse Newc   8.351   10/09/2022  SEK   55.760
KPNQwest NV           7.125   06/01/2009  EUR    0.076
Kommunekredit         0.500   7/30/2027   TRY   41.681
Ahtium PLC            9.750   04/04/2017  EUR    0.976
Norske Skog Holding   8.000   2/24/2021   EUR    0.023
Cooperatieve Raboba   0.500   7/30/2043   MXN   20.886
Virgolino de Olivei  10.500   1/28/2018   USD    0.849
Nordea Bank Abp       3.500   1/22/2024   SEK   67.130
Alno AG               8.000   3/21/2019   EUR   12.000
UBS AG/London        12.500   7/19/2021   USD   45.150
Intralot Capital Lu   5.250   9/15/2024   EUR   23.000
Senvion Holding Gmb   3.875  10/25/2022   EUR    4.137
Societe Generale SA  10.000   11/03/2022  USD   51.700
GE Capital UK Fundi   1.848   03/05/2038  GBP   65.414
Top Gun Realisation   8.000   07/01/2023  GBP    1.509
Naviera Armas SA      4.250  11/15/2024   EUR   49.000
Bulgaria Steel Fina  12.000   05/04/2013  EUR    0.216
Cooperatieve Raboba   0.500  12/29/2027   MXN   61.093
UBS AG/London        12.500   5/17/2021   USD   49.000
Depfa Funding III L   0.378               EUR   57.100
Windreich GmbH        6.500   7/15/2016   EUR    7.738
EFG International A   0.204               EUR   40.494
Cattles Ltd           8.125   07/05/2017  GBP    0.072
Ahtium PLC            4.000  12/16/2015   EUR    0.586
KTG Agrar SE          7.250  10/15/2019   EUR    1.136
Chr Bygga Bostader    9.338   07/05/2021  SEK   50.000
Odea Bank AS          7.625   08/01/2027  USD   55.557
EDOB Abwicklungs AG   7.500   04/01/2012  EUR    0.300
Yell Bondco PLC       8.500   05/02/2023  GBP   38.223
Solon SE              1.375   12/06/2012  EUR    0.769
Hema Bondco I BV      6.250   7/15/2022   EUR   46.183
Finmek Internationa   7.000   12/03/2004  EUR    2.193
Nordea Bank Abp       3.500   7/20/2022   SEK   73.130
Nordea Bank Abp       4.200   1/20/2025   SEK   74.630
UBS AG/London        12.000   11/02/2020  USD   42.550
Danske Bank A/S       7.470   07/09/2023  SEK   58.480
Krakowski Bank Spol   4.820   9/20/2023   PLN   72.010
Hamburgische Landes   0.148  10/30/2040   EUR   73.955
Societe Generale SA  12.000   07/08/2021  USD   23.955
Societe Generale SA   8.000   8/18/2021   USD   18.700
Finans-Avia OOO      10.000   7/31/2022   RUB    7.380
Raffinerie Heide Gm   6.375   12/01/2022  EUR   60.500
Cirio Del Monte NV    7.750   3/14/2005   EUR    0.552
Afren PLC            11.500   02/01/2016  USD    0.062
Swissport Investmen   6.750  12/15/2021   EUR   24.532
Maxeda DIY Holding    6.125   7/15/2022   EUR   69.255
Mallinckrodt Intern   5.625  10/15/2023   USD   23.265
F-Brasile SpA / F-B   7.375   8/15/2026   USD   73.249
KPNQwest NV           8.875   02/01/2008  EUR    0.076
Cooperatieve Raboba   0.500  11/30/2027   MXN   59.706
Skandinaviska Enski   6.000   7/15/2022   SEK   58.750
Skandinaviska Enski   7.000   1/15/2024   SEK   35.110
UniCredit SpA         1.900   6/14/2032   EUR   73.251
Agrokor dd            9.875   05/01/2019  EUR   10.500
Sequa Petroleum NV    5.000   4/29/2020   USD   25.601
Dolphin Drilling AS   4.490   8/28/2019   NOK    0.339
Gebr Sanders GmbH &   8.750  10/22/2018   EUR   11.463
Havila Shipping ASA   4.350   11/07/2020  NOK   51.213
SG Issuer SA         10.850   2/22/2021   CHF   55.000
SALVATOR Vermoegens   9.500  12/31/2021   EUR    8.000
Region of Abruzzo I   0.215   11/07/2036  EUR   65.482
Societe Generale SA  21.000  12/23/2022   USD   29.790
LSF9 Balta Issuer S   7.750   9/15/2022   EUR   49.348
Ghelamco Invest       4.250   1/21/2027   EUR   62.038
SB Holdco PLC         8.000   7/13/2022   EUR   73.000
Societe Generale SA  21.000   6/30/2022   USD   25.240
Leonteq Securities   11.600   9/17/2020   USD   50.300
Kirk Beauty One Gmb   8.750   7/15/2023   EUR   46.853
Credit Suisse AG/Lo  10.500   06/03/2020  USD   38.090
Vseukrainsky Aktsin  10.900   6/14/2019   USD    1.056
Jaguar Land Rover A   2.200   1/15/2024   EUR   75.006
Marine Subsea AS      9.000  12/16/2019   USD    0.688
Vneshprombank Ltd V   9.000  11/14/2016   USD    0.078
Pescanova SA          5.125   4/20/2017   EUR    0.319
Dogus Holding AS     13.220   7/26/2021   TRY   70.000
Del Monte Finance L   6.625   5/24/2006   EUR    0.001
Novafives SAS         5.000   6/15/2025   EUR   68.980
Republic of Italy G   0.047   7/31/2035   EUR   74.754
Pizzaexpress Financ   6.625   08/01/2021  GBP   54.833
Pizzaexpress Financ   8.625   08/01/2022  GBP   12.298
Afren PLC            10.250   04/08/2019  USD    0.062
Boparan Finance PLC   5.500   7/15/2021   GBP   75.138
La Financiere Atali   4.000   5/15/2024   EUR   58.567
Region of Abruzzo I   0.055   11/07/2031  EUR   72.332
Banque Internationa   0.224   2/20/2023   EUR    0.030
Swissport Investmen   9.750  12/15/2022   EUR   13.210
Manchester Building   8.000               GBP   21.750
Credit Agricole Cor   9.000   02/11/2021  USD   39.200
Central Business Ce   5.750  12/30/2021   EUR   31.000
Mifa Mitteldeutsche   7.500   08/12/2018  EUR    2.110
Norske Skog Holding   8.000   2/24/2023   USD    0.022
Sairgroup Finance B   4.375   06/08/2006  EUR    1.829
Alpine Holding GmbH   5.250   07/01/2015  EUR    0.172
UBS AG/London        12.000   08/12/2021  CHF   54.400
Centre Hospitalier    1.500   4/27/2050   EUR   20.138
SiC Processing GmbH   7.125   03/01/2016  EUR    2.611
Cooperatieve Raboba   0.500   1/31/2033   MXN   38.015
Nordea Bank Abp       4.000   7/20/2025   SEK   71.130
Turkey Government I   4.875   4/16/2043   USD   72.980
Matalan Finance PLC   9.500   1/31/2024   GBP   31.354
Virgolino de Olivei  11.750   02/09/2022  USD    0.943
Societe Generale SA   8.000   08/09/2022  USD   22.681
Landesbank Baden-Wu   3.520   8/28/2020   EUR   72.920
Barclays Bank PLC     1.860   5/30/2034   USD   72.250
Region of Molise It   0.060  12/15/2033   EUR   62.452
Autostrade per l'It   3.240   06/10/2034  EUR   73.184
Nordea Bank Abp       2.215   7/20/2021   SEK   13.000
Portugal Telecom In   5.242   11/06/2017  EUR    0.694
Skandinaviska Enski   6.500   1/15/2024   SEK   46.020
Investec Bank PLC     1.594   7/31/2025   GBP   74.560
SAir Group            0.125   07/07/2005  CHF    8.375
Moby SpA              7.750   2/15/2023   EUR   31.750
Banco Santander SA    1.932               EUR    3.772
Summer BC Holdco A    9.250  10/31/2027   EUR   74.500
Phosphorus Holdco P  10.000   04/01/2019  GBP    2.557
Marcolin SpA          4.125   2/15/2023   EUR   70.758
Barclays Bank PLC     1.372  12/23/2033   USD   61.161
Agrokor dd Via Aqua   4.921   08/08/2017  EUR   14.625
MS Deutschland Bete   6.875  12/18/2017   EUR    1.720
Veneto Banca SpA      6.411               EUR    1.199
Alpine Holding GmbH   5.250   06/10/2016  EUR    0.172
Waste Italia SpA     10.500  11/15/2019   EUR    0.608
Centrosolar Group A   7.000   2/15/2016   EUR    2.387
KPNQwest NV           8.125   06/01/2009  USD    0.076
Nordea Bank Abp       4.100   7/20/2023   SEK   35.630
OGX Austria GmbH      8.500   06/01/2018  USD    0.001
German Pellets GmbH   7.250   04/01/2016  EUR    0.429
Cooperatieve Raboba   0.500   8/21/2028   MXN   52.334
Leonteq Securities    9.000   7/28/2020   CHF   48.870
WEB Windenergie AG    2.250   9/25/2028   EUR   55.010
Finans-Avia OOO       0.010   7/31/2027   RUB    3.670
Pro-Gest SpA          3.250  12/15/2024   EUR   55.000
Tendam Brands SAU     5.000   9/15/2024   EUR   69.540
Nordea Bank Abp       3.600   1/22/2024   SEK   73.630
Deutsche Bank AG/Lo   0.500  10/18/2038   MXN   27.229
Veneto Banca SpA      6.944   5/15/2025   EUR    0.070
HSBC Bank PLC         0.500  11/25/2025   BRL   68.123
Landesbank Schleswi   1.518   01/05/2040  USD   56.921
International Bank    8.250   10/09/2024  USD   60.375
Island Offshore Shi   3.450   6/30/2021   NOK    4.449
Frigoglass Finance    6.875   02/12/2025  EUR   65.516
HSBC Bank PLC         0.500  12/22/2025   BRL   67.687
Landesbank Baden-Wu   2.000  12/29/2020   EUR   68.320
UBS AG/London        12.000   9/28/2020   USD   46.450
Matalan Finance PLC   6.750   1/31/2023   GBP   56.799
UBS AG/London        11.500   6/14/2021   USD   44.150
Bank Nadra Via NDR    8.250   7/31/2018   USD    0.208
La Financiere Atali   5.125   5/15/2025   EUR   61.112
Vontobel Financial   17.000   9/25/2020   EUR   58.120
Credit Suisse AG/Lo  11.750   03/03/2021  USD   72.175
Thomas Cook Group P   6.250   6/15/2022   EUR    5.000
AnaCap Financial Eu   5.000   08/01/2024  EUR   75.352
Elli Investments Lt  12.250   6/15/2020   GBP   51.505
Nordea Bank Abp       8.250   1/20/2025   SEK   74.050
Credit Suisse AG/Lo  13.500  10/13/2020   USD   56.910
Sairgroup Finance B   6.625   10/06/2010  EUR    1.829
Heta Asset Resoluti   7.500  12/31/2023   ATS    1.406
Hampshire Trust Ban   7.250   05/10/2028  GBP   72.001
Deutsche Agrar Hold   7.250   9/28/2018   EUR    1.254
KME SE                6.750   02/01/2023  EUR   44.630
Astaldi SpA           7.125   12/01/2020  EUR    9.731
Stichting Afwikkeli   6.625   5/14/2018   EUR    1.426
Galapagos Holding S   7.000   6/15/2022   EUR    7.704
Kaupthing ehf         9.000               USD    0.122
OGX Austria GmbH      8.375   04/01/2022  USD    0.001
Amigo Luxembourg SA   7.625   1/15/2024   GBP   74.928
Leonteq Securities    9.200   10/12/2020  CHF   37.620
SG Issuer SA          5.996   01/10/2023  EUR   62.950
AlphaNotes ETP Dac    0.010   09/09/2029  USD   68.317
Lehman Brothers Tre   2.000   3/16/2035   EUR    3.400
Natixis SA            0.300   6/25/2048   USD   50.307
Societe Generale SA   8.000   5/28/2027   USD   15.700
Raiffeisen Switzerl   9.180   1/25/2021   EUR   71.830
UkrLandFarming PLC   10.875   3/26/2018   USD    5.201
Privatbank CJSC Via  10.875   2/28/2018   USD   30.293
Raiffeisen Switzerl   8.000   07/11/2024  USD   56.100
Skandinaviska Enski   7.620   7/15/2022   SEK   45.610
Golden Gate AG        6.500   10/11/2014  EUR   37.550
Esbank Bank Spoldzi   4.790   7/16/2025   PLN   65.050
Sberbank of Russia   12.270   01/02/2026  RUB   67.230
Mox Telecom AG        7.250   11/02/2017  EUR    1.354
Barclays Bank PLC     0.701  11/28/2029   USD   78.375
Danske Bank A/S       5.300   7/15/2023   SEK   24.830
Nordea Bank Abp       5.100   1/20/2022   SEK   59.880
Nordea Bank Abp       7.150   7/20/2023   SEK   55.000
Leonteq Securities   30.000   7/28/2020   CHF   45.560
Norske Skog Holding   8.000   2/24/2023   USD    0.022
Petromena ASA        10.850  11/19/2018   USD    0.609
Anglian Water Servi   1.081   1/26/2057   GBP   68.948
Banco Espirito Sant  10.000   12/06/2021  EUR    0.563
Otkritie Holding JS  12.090   12/08/2027  RUB    0.100
Argentum Capital SA   4.551   06/06/2023  USD   40.870
Leonteq Securities   19.600   1/20/2021   CHF   63.380
DZ Bank AG Deutsche  10.150  11/27/2020   EUR   62.600
SG Issuer SA          7.000   2/17/2021   EUR   53.640
DZ Bank AG Deutsche   6.400   9/21/2020   EUR   71.790
Barclays Bank PLC     1.088   8/31/2031   USD   78.375
Bank Julius Baer &   10.150   08/07/2020  USD   35.250
SG Issuer SA          6.260   01/10/2024  SEK   72.830
Kredyt Inkaso SA      4.900   3/28/2022   PLN   71.010
IKB Deutsche Indust   1.666  12/31/2031   EUR   62.216
Officine Maccaferri   5.750   06/01/2021  EUR   36.083
Corner Banca SA       7.400  10/13/2020   CHF   46.510
Leonteq Securities    9.000   06/04/2020  USD   41.030
Nordea Bank Abp       2.100   7/20/2023   SEK   70.380
Skandinaviska Enski   7.880   1/16/2023   SEK   55.515
Tonon Luxembourg SA  12.500   5/14/2024   USD    0.445
Promontoria Holding   6.250   8/15/2023   EUR   72.160
Ideal Standard Inte  11.750   05/01/2018  EUR    0.051
DekaBank Deutsche G   9.600  10/16/2020   EUR   47.260
Air Berlin Finance    6.000   03/06/2019  EUR    1.550
REM Saltire AS        8.460   6/30/2021   NOK   50.000
Steilmann SE          6.750   6/27/2017   EUR    2.184
Afren PLC             6.625   12/09/2020  USD    0.070
Steilmann SE          7.000   9/23/2018   EUR    1.429
Banque Cantonale Va  14.550  12/18/2020   USD   72.710
Societe Generale SA  17.000  10/22/2020   USD   23.900
Zurcher Kantonalban   5.750   07/03/2020  CHF   71.290
Finance and Credit    9.250   1/25/2019   USD    0.993
getgoods.de AG        7.750   10/02/2017  EUR    0.126
Credit Suisse AG/London      11/30/2020   USD   30.000
Banque Cantonale Va  11.700  12/18/2020   CHF   71.780
AKB Metallinvestban   6.400   09/04/2023  RUB   99.970
Leonteq Securities   21.000   2/24/2021   CHF   16.000
UniCredit Bank AG     3.000   7/20/2022   EUR   73.550
Air Berlin Finance    8.500   03/06/2019  EUR    1.689
Thomas Cook Finance   3.875   7/15/2023   EUR    3.360
Tendam Brands SAU     5.250   9/15/2024   EUR   69.184
IKB Deutsche Indust   0.712   5/25/2031   EUR   53.115
La Financiere Atali   6.625   5/15/2025   GBP   57.450
Deutsche Bank AG      1.725   1/16/2045   EUR   64.486
Nordea Bank Abp       9.700   1/20/2023   SEK   36.250
Citigroup Global Ma  13.200  12/18/2023   SEK   38.110
Societe Generale SA  14.500   10/01/2020  USD   21.750
UBS AG/London        10.000   09/04/2020  EUR   45.150
UniCredit Bank AG     6.600   7/20/2028   EUR   36.910
SAG Solarstrom AG     6.250  12/14/2015   EUR   31.000
Barclays Bank PLC     1.756   10/10/2029  USD   78.375
PA Resources AB      13.500   03/03/2016  SEK    0.124
Heta Asset Resoluti   0.341  12/31/2023   EUR    1.406
Nordea Bank Abp       8.250   1/20/2023   SEK   36.620
Golfino AG            8.000  11/18/2023   EUR    0.015
Caixa Economica Mon   5.000               EUR   50.000
Credit Suisse AG/Lo   7.550   12/07/2021  USD   69.100
UniCredit Bank AG     2.150   7/20/2022   EUR   71.920
Espirito Santo Fina   5.050  11/15/2025   EUR    1.119
Corner Banca SA       7.800   8/17/2020   CHF   59.240
Nordea Bank Abp       7.110   7/20/2023   SEK   63.620
Leonteq Securities    4.000   01/10/2022  EUR   74.388
SG Issuer SA          1.250  11/15/2027   EUR   64.550
Pongs & Zahn AG       8.500               EUR    0.002
Deutsche Bank AG/Lo  13.750   6/20/2026   TRY   69.353
Metalloinvest Holdi   0.010   03/07/2022  RUB   94.000
Novafives SAS         4.500   6/15/2025   EUR   69.920
Mriya Agro Holding    9.450   4/19/2018   USD    7.625
New World Resources   4.000   10/07/2020  EUR    1.217
Nordea Bank Abp       5.750  10/20/2020   SEK   60.500
WEB Windenergie AG    5.250   04/08/2023  EUR   55.010
Skandinaviska Enski   9.200   7/15/2024   SEK   31.300
GE Capital European   0.330  10/15/2032   EUR   72.839
LBI ehf               7.431               USD    0.001
Bibby Offshore Serv   7.500   6/15/2021   GBP   10.394
Groupe Ecore Holdin   6.250  11/15/2023   EUR   55.062
Minicentrales Dos S   0.010   06/06/2047  EUR   65.750
Skandinaviska Enski   5.250   7/15/2022   SEK   75.350
Societe Generale Ef   5.500  12/24/2021   EUR   62.060
Natixis SA            2.970   06/08/2021  USD   58.604
Leonteq Securities   12.400   2/24/2021   CHF   53.710
Credit Suisse AG/Lo   4.000   2/21/2025   EUR   73.240
Credit Suisse AG/London       1/31/2023   USD   44.000
DZ Bank AG Deutsche   0.910   6/25/2029   EUR   73.410
UBS AG/London        13.500  11/20/2020   CHF   68.650
DekaBank Deutsche G   6.000   06/02/2021  EUR   64.230
Raiffeisen Centroba   6.750   2/17/2022   EUR   69.610
Cooperativa Murator   6.000   2/15/2023   EUR    2.705
Barclays Bank PLC     2.412   4/16/2029   USD   78.375
Otkritie Holding JS  10.770   9/17/2027   RUB   14.120
Otkritie Holding JS  10.000   4/20/2028   RUB    4.030
A-TEC Industries AG   5.750   11/02/2010  EUR    0.141
Barclays Bank PLC     1.183   3/27/2029   USD   78.375
Kaupthing ehf         6.125   10/04/2016  USD    0.250
UniCredit Bank AG     7.850   03/03/2021  EUR   64.300
Credit Suisse AG/London       03/01/2021  USD   48.370
Vontobel Financial    4.750   6/29/2020   EUR   47.000
Skandinaviska Enski  10.950   1/15/2024   SEK   39.680
Skandinaviska Enski   6.000   7/15/2024   SEK   55.000
Credit Suisse AG/London       3/29/2021   USD   67.000
Skandinaviska Enski   7.450   1/15/2025   SEK   34.440
Opus-Chartered Issu   5.000   03/08/2027  USD   56.770
Zurcher Kantonalban   9.000   12/04/2020  USD   52.940
Raiffeisen Centroba   7.250   12/06/2021  EUR   49.000
Nordea Bank Abp       7.430   1/20/2025   SEK   55.750
SG Issuer SA          0.820   08/02/2021  SEK    4.470
ECM Real Estate Inv   5.000   10/09/2011  EUR   15.375
New World Resources   8.000   04/07/2020  EUR    0.447
Bayerische Landesba   1.550   2/13/2040   EUR   72.110
Lloyds Bank PLC       0.500   7/26/2028   MXN   55.332
Grupo Isolux Corsan   0.250  12/30/2018   EUR    0.303
Veneto Banca SpA      6.950   2/25/2025   EUR    0.100
UBS AG/London         8.250   8/24/2020   USD   42.350
Luzerner Kantonalba   6.000   09/04/2020  CHF   67.210
HSBC Trinkaus & Bur   9.600   6/26/2020   EUR   53.880
Zaklady Miesne Henr   6.420   3/29/2021   PLN
Leonteq Securities    5.880  11/27/2020   GBP   43.550
Bayerische Landesba   2.800   06/05/2020  EUR   56.430
Leonteq Securities    7.200   9/24/2021   CHF   65.830
Bank Julius Baer &   12.660   6/23/2021   CHF   74.000
DekaBank Deutsche G   5.150   06/05/2020  EUR   69.000
WEB Windenergie AG    4.500               EUR   55.010
BNP Paribas Issuanc   6.550   3/28/2025   EUR   38.000
Landesbank Baden-Wu   2.400   9/25/2020   EUR   57.450
ING Bank NV           5.050   10/07/2024  EUR   56.500
F-Brasile SpA / F-B   7.375   8/15/2026   USD   73.249
A-TEC Industries AG   8.750  10/27/2014   EUR    0.141
Citigroup Global Ma   1.240   2/18/2040   EUR   74.024
Rio Forte Investmen   4.000   7/22/2014   EUR    6.094
BNP Paribas Issuanc   6.800   06/01/2020  EUR   42.850
Leonteq Securities    8.600   07/05/2021  CHF   58.320
Danske Bank A/S       8.050   07/09/2023  SEK   35.980
Bank Julius Baer &    7.100   11/09/2020  EUR   70.900
Nordea Bank Abp       5.700   1/20/2021   SEK   73.500
BNP Paribas SA        5.900   1/19/2021   USD   64.600
Bayerische Landesba   3.250   5/13/2022   EUR   67.620
Pragma Faktoring SA   5.420   07/04/2023  PLN   76.000
Trinfiko Holdings Z  10.000   3/20/2024   RUB   63.010
Bilt Paper BV         9.640               USD    1.021
NTRP Via Interpipe   10.250   08/02/2017  USD   30.500
Virgolino de Olivei  10.875   1/13/2020   USD   26.625
Mriya Agro Holding   10.950   3/30/2016   USD    7.643
Northland Resources   4.000  10/15/2020   NOK    0.271
Societe Generale SA  26.460   03/09/2023  USD   45.678
Corner Banca SA       7.400   7/22/2020   CHF   46.490
Leonteq Securities    7.400   03/04/2021  CHF   43.700
EFG International F  10.750   7/15/2020   USD   54.050
Nordea Bank Abp       5.600   7/20/2023   SEK   52.000
Natixis SA            3.100   7/26/2021   USD   39.131
Zurcher Kantonalban  11.000   7/22/2021   CHF   55.900
Zurcher Kantonalban  11.750   09/10/2020  USD   52.170
Skandinaviska Enski   6.350   7/15/2024   SEK   43.440
BNP Paribas Emissio  10.000  12/24/2020   EUR   56.910
Societe Generale SA  10.000   06/02/2022  USD   45.009
Bayerische Landesba   2.300   5/13/2022   EUR   43.080
EFG International F   6.500   8/20/2021   CHF   59.400
EFG International F   6.100   07/11/2024  CHF   68.180
Royalbeach Spielwar   7.375   11/10/2020  EUR    3.890
O1 Properties Finan  13.000   10/02/2020  RUB   97.030
Bibby Offshore Serv   7.500   6/15/2021   GBP   10.394
Irish Bank Resoluti   4.000   4/23/2018   EUR   33.250
Lehman Brothers Tre   1.000   10/05/2035  EUR    3.400
Lehman Brothers Tre   0.344   11/02/2035  EUR    3.400
Landesbank Hessen-T   0.044   7/18/2031   EUR   69.651
Landesbank Baden-Wu   3.500   2/26/2021   EUR   69.020
Zurcher Kantonalban  12.000   2/25/2021   CHF   56.370
Skandinaviska Enski   9.600   1/15/2024   SEK   32.900
Leonteq Securities    6.400   09/01/2020  CHF   63.740
Nordea Bank Abp       7.440   1/20/2023   SEK   63.870
Vontobel Financial    4.400  12/18/2020   EUR   72.160
Leonteq Securities    4.890  11/26/2021   USD   45.650
Landesbank Baden-Wu   2.650  12/29/2020   EUR   62.630
WEB Windenergie AG    3.750   9/26/2026   EUR   55.010
Landesbank Hessen-T   6.250   7/15/2022   EUR   49.800
Skandinaviska Enski   7.520   7/15/2024   SEK   46.430
Credit Suisse AG/Lo   4.200   9/25/2020   EUR   64.260
Bulgaria Steel Fina  12.000   05/04/2013  EUR    0.216
Kreditanstalt fuer    0.250   10/06/2036  CAD   46.897
Banca Popolare di V   9.500   10/02/2025  EUR    0.093
Natixis SA            3.150   06/08/2021  USD   27.516
Bank Julius Baer &    6.200   9/28/2020   USD   44.050
UBS AG/London         7.750   07/05/2021  EUR   72.000
mybet Holding SE      6.250   12/12/2020  EUR    0.700
Landesbank Hessen-T   5.250   5/15/2025   EUR   60.970
UniCredit Bank AG     4.250   6/25/2020   EUR   50.730
Credit Suisse AG/Lo  10.250   05/03/2021  CHF   59.890
EFG International F   7.000  10/25/2021   EUR   65.640
Zurcher Kantonalban   5.250  12/30/2021   CHF   74.140
Credit Suisse AG/Lo  12.120   2/28/2022   EUR   59.760
EFG International F   6.300  12/17/2020   EUR   65.710
Vontobel Financial    5.500  12/28/2020   EUR   69.730
Zurcher Kantonalban  14.000   6/17/2020   EUR   60.720
Nordea Bank Abp       7.050   7/20/2024   SEK   54.250
EFG International F   9.150  10/29/2020   USD   75.220
WEB Windenergie AG    6.500               EUR   55.010
Landesbank Hessen-T   5.600   9/27/2024   EUR   65.810
Nordea Bank Abp       6.100   7/20/2024   SEK   64.250
Leonteq Securities   10.000   12/11/2020  CHF   73.730
Irish Bank Resoluti   6.750  11/30/2013   BGN   33.250
Mriya Agro Holding    9.450   4/19/2018   USD    7.625
Espirito Santo Fina   5.125   5/30/2016   EUR    1.486
Tonon Luxembourg SA   9.250   1/24/2020   USD    1.008
SAir Group            6.250  10/27/2002   CHF    8.375
Aralco Finance SA    10.125   05/07/2020  USD    0.934
Cooperativa Murator   6.875   08/01/2022  EUR    2.760
Barclays Bank PLC     0.500   1/28/2033   MXN   38.370
Erste Group Bank AG   6.250   9/28/2023   EUR   61.450
EFG International F   5.550   07/12/2021  USD    4.170
Deutsche Bank AG/Lo   2.200   4/14/2023   EUR   57.250
Nordea Bank Abp       6.060   7/20/2023   SEK   62.750
SG Issuer SA         10.580  12/27/2022   EUR   74.260
Corner Banca SA       7.600   02/02/2021  CHF   52.070
Credit Suisse AG/Lo  10.000   5/14/2021   EUR   51.440
Citigroup Global Ma   6.010  10/23/2024   RUB   34.380
UniCredit Bank AG     6.600   7/23/2021   EUR   66.700
Leonteq Securities   14.000   8/17/2020   EUR   65.910
UBS AG/London        12.750   9/27/2021   CHF   63.000
ING Bank NV           6.500  12/30/2020   EUR   72.370
Credit Suisse AG/Lo   7.000   5/31/2021   CHF   60.270
State of Saxony-Anh   0.134   07/03/2028  EUR   45.000
UniCredit Bank AG     4.500  11/18/2020   EUR   24.850
Pescanova SA          8.750   2/17/2019   EUR    0.319
A-TEC Industries AG   2.750   05/10/2014  EUR    0.141
Vontobel Financial   16.000   6/25/2021   EUR   74.830
Raiffeisen Schweiz    4.100   06/08/2022  CHF   57.250
Societe Generale SA   8.000   1/14/2021   USD   42.080
Corner Banca SA       8.600   6/16/2020   CHF   35.820
Zurcher Kantonalban  13.550   07/03/2020  EUR   67.820
Credit Suisse AG/Lo  12.000   7/24/2020   USD   34.390
Danske Bank A/S       5.000   01/09/2025  SEK   68.200
UBS AG/London         6.250   7/13/2020   CHF   17.360
Landesbank Baden-Wu  13.120   2/26/2021   EUR   70.600
Leonteq Securities   10.250   02/04/2021  USD   56.750
Nordea Bank Abp       2.690   7/20/2023   SEK   13.000
Araratbank OJSC       5.250   09/11/2022  USD   25.248
Societe Generale SA  14.500   09/03/2020  USD   22.444
Bayerische Landesba   2.250   7/23/2021   EUR   53.720
Citigroup Global Ma  12.379  11/13/2023   SEK   35.810
City of Predeal Rom   3.500   5/15/2026   RON   60.000
EFG International F   5.350   11/07/2022  USD   57.170
Bank Spoldzielczy w   3.690   5/15/2025   PLN   75.000
WEB Windenergie AG    5.500   04/08/2023  EUR   55.010
Corner Banca SA      16.400   03/02/2021  CHF   13.330
Russian Railways JS   3.500   10/11/2038  RUB   90.000
Norske Skogindustri   7.000  12/30/2026   EUR    0.135
Norske Skog Holding   8.000   2/24/2021   EUR    0.023
Samaratransneft-Ter  17.000   6/20/2021   RUB   13.960
Agrokor dd            8.875   02/01/2020  USD   10.838
Rena GmbH             7.000  12/15/2015   EUR    2.096
Stichting Afwikkeli   8.450   8/20/2018   USD    1.426
Stichting Afwikkeli   2.504               EUR    1.210
Nordea Bank Abp       6.440   1/22/2024   SEK   57.120
HSBC Trinkaus & Bur   4.500   6/26/2020   EUR   70.100
Zurcher Kantonalban   7.500   06/10/2020  CHF   52.330
Credit Suisse AG/Lo   8.000   12/02/2020  USD    8.707
Landesbank Baden-Wu   2.800   2/26/2021   EUR   74.310
Deutsche Bank AG      8.200  12/22/2020   EUR   41.600
Landesbank Baden-Wu   3.540   7/24/2020   EUR   56.940
SG Issuer SA          3.150   07/10/2020  EUR   66.790
SG Issuer SA          5.000   5/23/2024   EUR   54.940
Danske Bank A/S      10.380   07/10/2023  EUR   44.060
Raiffeisen Centroba   8.250   11/10/2020  EUR   47.540
Bayerische Landesba   2.500   8/21/2020   EUR   47.140
BNP Paribas Emissio   8.000   9/24/2020   EUR   68.160
Landesbank Baden-Wu   2.000   3/26/2021   EUR   58.500
EFG International F   7.100   8/14/2020   EUR   51.170
Raiffeisen Centroba   7.500   4/30/2021   EUR   58.940
Bank Julius Baer &    4.080   08/07/2020  EUR   64.500
Landesbank Baden-Wu  13.660   5/31/2021   EUR   64.090
EFG International F  12.000  11/29/2024   USD   57.190
Banque Cantonale Va   6.100  11/20/2020   CHF   46.530
Nordea Bank Abp       3.792   1/20/2021   EUR   43.620
Nordea Bank Abp       5.000   1/20/2025   SEK   74.870
Raiffeisen Schweiz    7.600  11/15/2021   EUR   66.140
Zurcher Kantonalban   9.500   7/22/2021   EUR   49.780
Zurcher Kantonalban   7.750   6/18/2021   EUR   58.420
EFG International F   7.800   8/17/2020   CHF   36.860
Credit Suisse AG/Lo   9.100   09/10/2020  USD   65.390
EFG International F  12.530   3/18/2021   CHF   56.680
Danske Bank A/S       6.000   07/09/2025  SEK   74.490
EFG International F   9.500   10/11/2022  USD   70.770
Bank Julius Baer &   10.000   6/21/2021   EUR   54.600
Nordea Bank Abp       5.400   1/20/2025   SEK   66.750
EFG International F  19.200   6/18/2021   CHF   71.070
Zurcher Kantonalban  10.875   5/27/2021   EUR   45.080
Landesbank Hessen-T   4.200   9/21/2020   EUR   66.700
UBS AG/London         7.750   5/24/2021   EUR   52.850
UBS AG/London        11.750   06/01/2021  USD   53.430
Zurcher Kantonalban   5.500  10/16/2020   EUR   68.510
Societe Generale SA  22.000   11/03/2022  USD   28.625
HSBC Bank PLC         0.500   6/23/2027   MXN   61.983
Northland Resources  15.000   7/15/2019   USD    2.621
Kaupthing ehf         3.750   2/15/2024   ISK    0.250
SAG Solarstrom AG     7.500   07/10/2017  EUR   31.000
Jaguar Land Rover A   4.500   10/01/2027  USD   68.657
AKB Peresvet ZAO      0.510   2/14/2032   RUB   11.040
Heta Asset Resoluti   0.050  12/31/2023   EUR    1.406
House of Fraser Fun   5.978   9/15/2020   GBP    3.433
Windreich GmbH        6.500   03/01/2015  EUR    7.738
Windreich GmbH        6.750   03/01/2015  EUR    7.738
Lehman Brothers Tre  11.000   6/29/2009   EUR    2.571
La Veggia Finance S   7.125  11/14/2004   EUR    0.287
Agrokor dd            9.125   02/01/2020  EUR   10.179
Skandinaviska Enski   9.020   7/17/2023   SEK   41.760
Skandinaviska Enski  10.360   7/17/2023   SEK   54.310
UniCredit Bank AG     4.250  11/21/2021   EUR   38.620
Macquarie Internati  11.550   8/28/2023   ZAR   11.816
Raiffeisen Centroba   6.000   09/09/2021  EUR   72.130
Deutsche Bank AG      3.200   6/23/2020   EUR   70.790
Raiffeisen Centroba   4.150   04/05/2022  EUR   66.060
UniCredit Bank AG     9.800  12/29/2020   EUR   33.950
Raiffeisen Schweiz    5.750  11/23/2020   EUR   58.680
Corner Banca SA       7.200   4/20/2021   CHF   54.300
UBS AG/London         7.500   9/21/2020   USD   51.520
Natixis SA            2.750   03/01/2021  USD   48.916
DekaBank Deutsche G   3.000   4/24/2024   EUR   63.510
Raiffeisen Schweiz    6.900   09/10/2020  EUR   63.770
UBS AG/London         5.500   2/22/2021   CHF   59.750
Leonteq Securities    5.630  11/27/2020   GBP   71.900
EFG International F  10.850  11/29/2024   USD   53.430
Danske Bank A/S       9.430   07/09/2024  SEK   22.000
SG Issuer SA          2.200   01/10/2025  EUR   58.240
Vontobel Financial    6.000   2/26/2021   EUR   74.050
Leonteq Securities   18.000   1/28/2021   CHF   63.190
Bank Julius Baer &   11.000   7/31/2020   CHF   74.150
Raiffeisen Switzerl   4.800   6/14/2021   EUR   53.990
Raiffeisen Switzerl   5.900  10/28/2020   CHF   53.110
Landesbank Hessen-T   4.000   4/13/2021   EUR   59.220
Zurcher Kantonalban   5.750  10/18/2022   CHF   68.640
Vontobel Financial    5.850   09/11/2020  EUR   73.140
Credit Suisse AG/Lo   6.250   5/28/2021   USD   73.250
Nordea Bank Abp       2.492   1/20/2021   EUR   68.000
Societe Generale Ef   4.250   6/26/2020   EUR   72.880
UniCredit Bank AG     3.600   6/18/2020   EUR   39.980
Credit Suisse AG/Lo   5.100   2/26/2021   CHF   72.640
Landesbank Hessen-T   5.100   10/04/2024  EUR   51.920
Landesbank Hessen-T   6.450   06/03/2024  EUR   60.060
Bayerische Landesba   2.800   5/14/2021   EUR   56.670
Landesbank Hessen-T   6.500   5/21/2025   EUR   63.900
Danske Bank A/S       5.600   07/09/2025  SEK   72.940
Astana Finance BV     9.000  11/16/2011   USD   15.250
Astana Finance BV     7.875   06/08/2010  EUR   16.000
Hellas Telecommunic   6.054   1/15/2015   USD    0.018
Heta Asset Resoluti   0.570  12/31/2023   EUR    1.406
Bank Otkritie Finan   0.010   7/16/2025   RUB   69.020
BLT Finance BV       12.000   02/10/2015  USD   10.500
Hellas Telecommunic   8.500  10/15/2013   EUR    0.497
Northland Resources  12.250   3/26/2016   USD    2.621
PSN Pm OOO            9.500   09/10/2026  RUB   21.625
Northland Resources   4.000  10/15/2020   USD    0.271
Heta Asset Resoluti   4.350  12/31/2023   EUR    1.500
Norske Skogindustri   7.125  10/15/2033   USD    0.135
Elli Investments Lt  12.250   6/15/2020   GBP   51.505
Norddeutsche Landes   4.000   6/28/2038   EUR   61.852
Lehman Brothers Tre   5.103   6/22/2046   EUR    2.571
UBS AG/London         8.000   06/08/2020  CHF   56.500
Deutsche Bank AG      4.200   6/23/2020   EUR   45.300
HSBC Trinkaus & Bur   7.300   9/25/2020   EUR   54.510
Nordea Bank Abp       6.450   1/22/2024   SEK   69.870
Landesbank Hessen-T   6.000   9/21/2023   EUR   41.700
Landesbank Baden-Wu   3.750   1/22/2021   EUR   68.260
DZ Bank AG Deutsche   5.000  11/27/2020   EUR   66.990
EFG International F  10.000   08/07/2020  EUR   54.690
Bayerische Landesba   3.350   08/07/2020  EUR   49.960
Societe Generale SA  10.080   3/16/2022   USD   43.950
Societe Generale Ef  18.288  12/28/2020   EUR   63.850
Skandinaviska Enski  10.300   7/17/2023   SEK   35.130
Skandinaviska Enski  10.400   1/15/2024   SEK   38.420
DekaBank Deutsche G   4.810   6/30/2020   EUR   33.700
Danske Bank A/S       6.860   07/09/2022  SEK   63.910
Leonteq Securities    8.000   7/29/2020   EUR   34.040
Skandinaviska Enski   7.600   1/15/2024   SEK   55.280
Bank Julius Baer &   16.250   05/04/2021  CHF   65.200
Banque Cantonale Va   5.200   08/04/2021  CHF   70.980
Skandinaviska Enski   4.500   7/17/2023   SEK   42.310
Credit Suisse AG/Lo   8.500   2/22/2021   USD   68.900
Zurcher Kantonalban   6.000   11/12/2020  EUR   72.830
Credit Suisse AG/Lo  10.500  11/13/2020   USD   53.280
Skandinaviska Enski   4.350   1/15/2025   SEK   43.660
UBS AG/London         6.200   3/25/2021   EUR   62.650
Landesbank Hessen-T   3.100   11/09/2020  EUR   52.200
UniCredit Bank AG     4.300   06/04/2020  EUR   55.790
Raiffeisen Schweiz    6.000   8/17/2020   CHF   35.940
UniCredit Bank AG     3.750   09/07/2020  EUR   29.300
Bank Julius Baer &    8.950  10/19/2020   USD   35.050
DZ Bank AG Deutsche   6.400   6/26/2020   EUR   72.630
Landesbank Baden-Wu   5.750  11/26/2021   EUR   52.360
Credit Suisse AG/Lo   9.500   7/20/2020   USD   53.460
Landesbank Hessen-T   5.600   6/21/2021   EUR   64.700
BNP Paribas Issuanc   4.992   10/05/2020  CHF   61.700
Landesbank Hessen-T   4.550   11/04/2020  EUR   60.500
Erste Group Bank AG   5.600   9/29/2020   EUR   65.460
DekaBank Deutsche G   2.380   08/11/2020  EUR   60.800
EFG International F  12.870  12/23/2024   USD   62.150
EFG International F   9.700   9/26/2022   CHF   53.900
Corner Banca SA       6.000   4/25/2022   CHF   71.320
Danske Bank A/S       6.310   07/09/2025  SEK   73.820
EFG International F  13.600   2/23/2021   CHF   63.590
Gazprombank JSC       0.010  11/24/2022   RUB   75.020
BNP Paribas Emissio   6.500  12/24/2020   EUR   49.190
Raiffeisen Switzerl   3.590   7/22/2020   EUR   60.760
Skandinaviska Enski   3.000   1/17/2022   SEK   32.700
Kaupthing ehf         3.750   02/01/2045  USD    0.232
Rio Forte Investmen   3.900   07/10/2014  USD    6.125
SAir Group            4.250   02/02/2007  CHF    8.375
AKB Peresvet ZAO      0.510   6/23/2021   RUB   13.140
Rio Forte Investmen   4.750   11/10/2015  EUR    6.125
Espirito Santo Fina   5.050  11/15/2025   EUR    1.119
Barclays Bank PLC     2.000   06/12/2029  TRY   41.894
UBS AG/London         5.750   8/14/2020   CHF   48.300
EFG International F   6.200   8/16/2021   CHF   55.580
Leonteq Securities    6.400   11/03/2020  EUR   41.920
EFG International F  10.400   06/09/2020  USD   61.960
Natixis SA            2.100   06/08/2021  EUR   27.929
Skandinaviska Enski   7.800   7/17/2023   SEK   49.150
Natixis SA            2.075   6/22/2020   EUR   65.408
Raiffeisen Centroba   5.000   08/09/2021  EUR   56.530
EFG International F   6.000   08/03/2020  USD   28.140
EFG International F  11.400   6/28/2021   USD   52.670
EFG International F  10.000   2/22/2024   USD   64.960
UBS AG/London         9.000   8/27/2020   USD   40.050
Societe Generale SA   7.220   5/30/2023   USD   74.550
Leonteq Securities    7.400   11/09/2020  EUR   56.960
EFG International F  13.500   7/19/2021   USD   68.040
Credit Suisse AG/Lo   4.000   6/22/2020   EUR   63.290
Leonteq Securities    7.200  10/27/2021   CHF   51.210
Landesbank Hessen-T   4.000  11/24/2021   EUR   63.510
Societe Generale SA   9.250   9/30/2020   USD   42.500
HSBC Trinkaus & Bur   5.030   12/04/2020  EUR   56.730
Credit Suisse AG/Lo   6.000   1/31/2022   CHF   71.540
EFG International F  11.500   08/02/2021  USD   69.750
Raiffeisen Schweiz   11.500   2/18/2021   CHF   34.400
UBS AG/London         7.000   2/21/2022   EUR   64.100
UBS AG/London         9.250   8/20/2021   USD   66.650
Societe Generale Ef  10.000   2/19/2021   EUR   69.330
Zurcher Kantonalban   7.640   08/06/2020  CHF   46.320
Credit Suisse AG/Lo   2.800  11/17/2020   USD   55.700
EFG International F  13.150  12/17/2020   USD   41.460
Raiffeisen Switzerl  15.120   07/08/2020  USD   49.320
SG Issuer SA          1.750   2/22/2021   EUR   70.000
BNP Paribas Emissio   3.000   6/25/2020   EUR   64.690
EFG International F   4.700   2/21/2023   USD   59.550
Raiffeisen Centroba   5.500   02/08/2021  EUR   61.930
Deutsche Bank AG      8.200   9/22/2020   EUR   43.800
UBS AG/London         7.750   06/08/2020  CHF   55.050
Leonteq Securities   10.600   12/08/2020  EUR   33.870
UBS AG/London         9.000   11/04/2020  USD   48.600
Getin Noble Bank SA   5.710   4/29/2024   PLN   72.000
UBS AG/London         5.250   07/11/2022  CHF   66.050
Deutsche Bank AG/Lo   0.910  11/21/2022   EUR   60.140
Leonteq Securities   10.200   06/03/2020  USD   61.590
UBS AG/London         6.000   11/09/2020  CHF   58.650
Leonteq Securities    8.200   09/01/2020  CHF   40.360
Raiffeisen Schweiz    5.500   09/07/2020  CHF   73.260
Investec Bank PLC     6.650   6/20/2026   SEK   67.570
EFG International F   0.600   07/12/2022  EUR   60.310
Danske Bank A/S       6.010   07/09/2023  SEK   53.350
Corner Banca SA      10.000   10/05/2020  CHF   49.260
UBS AG/London         6.000   8/13/2020   CHF   50.700
EFG International F   9.800   9/21/2021   EUR   32.330
Leonteq Securities    7.400   9/28/2021   CHF   53.950
UniCredit Bank AG     4.100   8/24/2022   EUR   60.110
UBS AG/London         9.000   07/06/2020  USD   64.680
EFG International F  10.500   02/07/2022  EUR   48.780
EFG International F   8.700   9/28/2020   EUR   62.790
Landesbank Hessen-T   5.700   06/02/2023  EUR   55.470
Luzerner Kantonalba  13.200   8/14/2020   CHF   65.400
UBS AG/London         7.500   08/07/2020  EUR   51.650
Leonteq Securities    7.000   8/19/2020   EUR   49.810
Leonteq Securities    3.000   1/31/2022   EUR   67.070
Raiffeisen Switzerl   9.000   02/11/2021  USD   62.160
UniCredit Bank AG     6.600   04/06/2021  USD   59.770
Skandinaviska Enski   9.500   1/17/2023   SEK   37.840
EFG International F   5.350  12/27/2022   USD   56.530
EFG International F  12.750   1/31/2022   USD   53.140
EFG International F  11.500   08/02/2021  USD   70.770
Credit Suisse AG/Lo   6.000   7/15/2020   CHF   72.280
Credit Suisse AG/Lo   6.000   6/24/2022   CHF   64.640
UBS AG/London         7.000  10/26/2020   CHF   61.550
Credit Suisse AG/Lo  10.750  12/21/2020   CHF   54.690
Credit Suisse AG/Lo   7.750   8/30/2021   CHF   71.880
EFG International F  12.000  10/19/2021   USD   42.800
UBS AG/London         7.500  10/19/2020   EUR   68.250
Landesbank Baden-Wu   4.000   8/28/2020   EUR   36.660
EFG International F   4.700   2/24/2023   USD   58.010
Leonteq Securities    2.910   1/20/2021   EUR   69.520
Danske Bank A/S       6.860   07/09/2022  SEK    7.030
Zurcher Kantonalban   9.200   11/06/2020  CHF   69.250
Zurcher Kantonalban   6.000   2/25/2021   CHF   64.030
UBS AG/London        11.500   03/11/2021  EUR   71.450
EFG International F   0.600   08/08/2022  EUR   61.990
Credit Suisse AG/Lo   8.000   03/03/2022  USD   54.430
EFG International F   5.350  11/15/2022   USD   53.940
Leonteq Securities   20.000   2/18/2021   CHF   48.680
WEB Windenergie AG    6.250               EUR   55.010
EFG International F   0.600   6/28/2022   EUR   61.870
EFG International F  13.000   6/14/2021   USD   57.230
UBS AG/London        10.500   6/15/2020   CHF   62.250
Raiffeisen Centroba   5.750   7/19/2021   EUR   56.750
Raiffeisen Schweiz    7.440   6/24/2020   CHF   43.390
EFG International F   5.350   1/24/2023   USD   58.410
Landesbank Hessen-T   3.750   10/06/2020  EUR   66.200
EFG International F   9.200   8/27/2020   USD   51.430
Vontobel Financial    6.000  12/28/2020   EUR   57.070
Credit Suisse AG/Lo  10.000  10/19/2020   EUR   51.230
EFG International F  12.800   02/08/2021  USD   71.990
Raiffeisen Centroba   6.250  12/13/2021   EUR   64.930
Gold-Zack AG          7.000  12/14/2005   EUR    9.030
Zurcher Kantonalban  12.000   9/18/2020   USD   51.820
BNP Paribas Emissio  11.000   6/25/2020   EUR   68.730
EFG International F   5.350  10/31/2022   USD   56.680
EFG International F   5.350  12/19/2022   USD   58.150
EFG International F   8.700  12/17/2020   USD   67.730
Barclays Bank PLC     2.730   9/27/2024   EUR   54.300
EFG International F   5.500  12/14/2020   CHF   56.720
Bank Julius Baer &   13.510   8/17/2020   USD   34.200
Credit Suisse AG/Lo   7.500  12/14/2020   CHF   66.810
EFG International F  20.300   10/08/2021  USD   72.080
Raiffeisen Switzerl   8.400   8/20/2020   USD   57.290
Societe Generale Ef   9.250   9/25/2020   EUR   68.920
EFG International F   0.600   09/06/2022  EUR   46.340
UBS AG/London        10.250   06/05/2020  USD   55.840
UBS AG/London        10.000   5/20/2021   USD   70.620
EFG International F  10.000   12/06/2021  USD   67.460
EFG International F   5.350   12/06/2022  USD   57.150
EFG International F   6.750  10/29/2020   EUR   70.130
EFG International F   5.350  10/24/2022   USD   50.620
WEB Windenergie AG    2.500   9/26/2021   EUR   55.010
EFG International F   5.350  12/19/2022   USD   57.350
WEB Windenergie AG    2.750  12/17/2020   EUR   55.010
EFG International F   5.350  11/29/2022   USD   55.680
Getin Noble Bank SA   4.440  12/21/2020   PLN   60.000
UBS AG/London        12.500  11/30/2020   CHF   58.350
Leonteq Securities   10.400   7/29/2020   EUR   59.880
DekaBank Deutsche G   0.010   6/29/2046   EUR   71.530
SALVATOR Vermoegens   9.500               EUR   13.500
EFG International F   5.350   12/02/2022  USD   56.500
EFG International F   0.600   8/29/2022   EUR   66.590
Otkritie Holding JS   8.030   10/03/2036  RUB    0.200
Metalloinvest Holdi   0.010   03/10/2022  RUB   61.000
Bayerische Landesba   2.700   5/14/2021   EUR   50.850
BNP Paribas Emissio   6.000   6/25/2020   EUR   66.050
Banque Cantonale Va  11.160   01/04/2021  CHF   65.680
Citigroup Global Ma   9.500   9/30/2020   EUR   62.640
Bayerische Landesba   2.700   7/22/2022   EUR   35.590
SG Issuer SA          7.013   11/02/2020  EUR   65.600
Bank Julius Baer &    8.150   08/06/2020  CHF   65.300
Landesbank Baden-Wu   2.560   7/24/2020   EUR   69.590
UBS AG/London        13.500   7/15/2021   CHF   73.650
DekaBank Deutsche G   8.050   1/15/2021   EUR   71.460
EFG International F   0.600   9/20/2022   EUR   45.360
DZ Bank AG Deutsche   1.600   6/24/2026   EUR   72.020
UBS AG/London        13.500   4/26/2021   USD   41.840
Landesbank Baden-Wu   3.250   7/28/2023   EUR   60.410
Tonon Luxembourg SA  12.500   5/14/2024   USD    0.445
Lehman Brothers Tre  11.000  12/20/2017   AUD    2.571
BNP Paribas SA        1.000   1/23/2040   MXN   29.990
Lehman Brothers Tre   4.600   10/11/2017  ILS    3.750
Lehman Brothers Tre   2.875   3/14/2013   CHF    3.750
SpareBank 1 SR-Bank   1.383  12/21/2030   EUR   70.199
SAir Group            6.250   04/12/2005  CHF    8.375
Bank Otkritie Finan  10.000   4/26/2019   USD    9.505
Lehman Brothers Tre   0.500  12/20/2017   AUD    2.571
Northland Resources  15.000   7/15/2019   USD    2.621
Lehman Brothers Tre   4.050   9/16/2008   EUR    2.571
Lehman Brothers Tre  13.432   01/08/2009  ILS    2.571
Credito Padano Banc   3.100               EUR   36.529
Credito Padano Banc   3.100               EUR   36.278
Grupo Isolux Corsan   1.000  12/30/2021   USD    0.303
Pescanova SA          6.750   03/05/2015  EUR    0.319
Kaupthing ehf         6.125   10/04/2016  USD    0.250
Ideal Standard Inte  11.750   05/01/2018  EUR    0.051
DekaBank Deutsche G   1.780   02/05/2021  EUR   68.760
Societe Generale SA   4.000   6/29/2028   USD
Raiffeisen Switzerl  10.500   07/11/2024  USD    5.970
Societe Generale SA   6.640   03/02/2021  USD   72.550
Landesbank Hessen-T   2.600   7/29/2020   EUR   58.900
Societe Generale SA  14.720   6/25/2021   USD   48.600
Credit Suisse AG/Lo  10.000   7/29/2020   USD
Societe Generale SA  17.000   03/02/2023  USD   33.050
Citigroup Global Ma   3.180   08/08/2022  USD   68.460
Landesbank Baden-Wu   3.000   3/26/2021   EUR   59.650
Societe Generale SA  19.000   9/17/2020   USD   24.200
UBS AG/London         1.750   1/23/2023   USD    6.105
Societe Generale SA   6.000  11/30/2032   USD   61.420
Raiffeisen Switzerl   7.000   07/08/2020  USD   32.940
EFG International F  16.400   7/15/2020   USD   11.170
Societe Generale Ef   5.500   6/26/2020   EUR   57.810
Societe Generale SA  11.732   07/12/2024  USD   73.500
Investec Bank PLC     6.700  12/20/2025   SEK   74.380
Landesbank Hessen-T   5.500   5/25/2023   EUR   25.120
Barclays Bank PLC     3.500   8/17/2020   USD   42.750
Societe Generale SA   7.750   02/01/2021  USD   69.750
Societe Generale SA  10.000   03/02/2023  USD   41.750
Raiffeisen Switzerl   6.400   11/11/2020  EUR   58.380
Raiffeisen Switzerl   6.200   11/11/2020  CHF   58.440
Raiffeisen Schweiz    8.200  10/22/2020   USD   36.170
Raiffeisen Schweiz    8.000   9/22/2020   CHF   43.640
Societe Generale SA   9.250   3/30/2022   USD   69.000
EFG International F   9.850   7/30/2020   CHF   60.480
Credit Suisse AG/Lo   6.000   8/24/2022   CHF   62.520
Raiffeisen Schweiz   12.840   2/15/2021   CHF   64.610
Landesbank Baden-Wu   4.350   7/14/2020   EUR   66.220
Credit Suisse AG/Lo  10.000   06/03/2021  USD   73.500
Credit Suisse AG/Lo  20.000  11/29/2024   USD    6.100
Credit Suisse AG/Lo  10.500   10/02/2020  USD   48.310
Societe Generale Ef   7.000   02/01/2021  EUR   53.160
Spoldzielczy Bank R   5.290   7/16/2025   PLN   60.000
Societe Generale SA   7.000   10/02/2029  USD   74.437
Credit Suisse AG/Lo  11.250   12/03/2020  USD   71.683
BNP Paribas Issuanc   4.992   10/05/2020  EUR   61.700
Societe Generale SA  10.000  12/30/2022   USD
Societe Generale SA  10.000  12/30/2022   USD
EFG International F  10.260  12/19/2024   CHF   42.490
SG Issuer SA          5.500   04/10/2021  EUR   56.640
Credit Suisse AG/Lo  10.750  11/29/2021   USD   38.426
Credit Suisse AG/Lo  10.000  12/31/2020   USD   68.000
Landesbank Hessen-T   3.500   5/24/2023   EUR   61.590
Landesbank Baden-Wu  10.670   6/26/2020   EUR   57.330
Barclays Bank PLC     2.000   5/28/2021   USD   10.030
Raiffeisen Schweiz    8.400  11/24/2020   CHF   41.560
Societe Generale SA  11.000   9/23/2021   USD   73.150
Credit Suisse AG/Lo   8.750   09/02/2020  GBP   60.380
Citigroup Global Ma   4.875   8/22/2022   USD   30.620
Societe Generale SA   9.440   05/06/2022  USD
WEB Windenergie AG    6.500               EUR   55.010
SG Issuer SA          6.650   10/10/2021  EUR   37.770
EFG International F   5.600   07/11/2024  EUR    6.510
Lehman Brothers Tre   6.300  12/21/2018   USD    2.571
SAir Group            2.125   11/04/2004  CHF    8.375
AKB Peresvet ZAO     13.000   10/07/2017  RUB   13.375
Windreich GmbH        6.250   03/01/2015  EUR    7.738
SAir Group            5.500   7/23/2003   CHF    8.375
Bank Otkritie Finan   0.010   9/24/2025   RUB   67.560
Lehman Brothers Tre  10.000  10/22/2008   USD    2.571
Kaupthing ehf         3.063   05/10/2045  ISK    0.250
Minicentrales Dos S   0.010   06/06/2047  EUR   65.750
Kaupthing ehf         4.390  10/14/2008   CZK    0.250
BNP Paribas SA        1.147               USD   66.755
Russian Railways JS  10.300   04/03/2026  RUB   90.000
Leonteq Securities    3.500   03/08/2023  CHF   57.080
Leonteq Securities    7.500   03/11/2021  CHF   64.090
BNP Paribas Issuanc   4.800   06/01/2020  EUR   53.950
Raiffeisen Centroba   6.000   7/21/2020   EUR   46.090
Landesbank Baden-Wu   5.810   3/26/2021   EUR   61.050
Citigroup Global Ma   8.050   1/24/2023   EUR   50.150
EFG International F  10.000   2/25/2021   USD   65.750
Bank Julius Baer &    8.750   7/20/2020   USD   45.950
DekaBank Deutsche G   4.800   03/09/2021  EUR   68.090
UBS AG/London         2.000   3/25/2021   EUR   65.080
UBS AG/London        12.000   6/19/2020   USD   31.170
Landesbank Hessen-T   3.000   09/09/2020  EUR   51.400
Luzerner Kantonalba   4.800   1/18/2021   CHF   50.080
Landesbank Baden-Wu   2.400  10/23/2020   EUR   56.180
Banque Cantonale Va   6.720   8/17/2020   CHF   58.120
Leonteq Securities    2.650   1/31/2022   CHF   65.790
Zurcher Kantonalban  14.750   02/04/2021  USD   68.340
Leonteq Securities    8.800  12/23/2021   CHF   68.510
Credit Suisse AG/Lo   7.250   4/27/2021   EUR   47.150
UBS AG/London        10.250   05/10/2021  USD   74.460
Sberbank of Russia    7.550   07/12/2021  RUB   72.600
Credit Suisse AG/Lo   9.000  11/20/2020   USD   64.390
Credit Suisse AG/Lo   6.250   3/26/2021   EUR   61.980
Leonteq Securities   10.000   12/09/2020  CHF   68.470
Bank Julius Baer &    7.000  12/18/2020   CHF   70.050
Raiffeisen Schweiz   10.000   12/10/2020  CHF   35.340
Raiffeisen Schweiz    6.500   10/04/2021  EUR   67.940
Vontobel Financial   10.000  11/22/2021   EUR   70.780
Zurcher Kantonalban  10.000  10/29/2020   EUR   49.810
Russian Railways JS   4.100   5/29/2035   RUB   90.000
Sberbank of Russia    7.550   07/12/2021  RUB   70.020
Bank Julius Baer &   10.100   12/01/2020  EUR   63.750
Landesbank Hessen-T   5.250   06/03/2024  EUR   46.740
Credit Suisse AG/Lo   9.000   9/13/2020   USD   71.000
EFG International F   8.200   8/20/2021   CHF   58.720
Raiffeisen Schweiz    6.600   11/02/2020  EUR   66.330
Vontobel Financial    9.100   2/21/2022   EUR   70.700
Lehman Brothers Tre   4.100   06/10/2014  SGD    3.750
Lehman Brothers Tre  11.000   07/04/2011  CHF    2.571
Kaupthing ehf         1.744               ISK    0.250
AKB Peresvet ZAO      0.510   08/04/2034  RUB   17.520
Kaupthing ehf         5.750   10/04/2011  USD    0.250
EFG International F   6.400   03/08/2021  EUR   43.590
Citigroup Global Ma  13.600   1/25/2023   SEK   70.170
Leonteq Securities    5.200   09/02/2020  EUR   43.960
Landesbank Baden-Wu   2.600   4/28/2023   EUR   59.330
Landesbank Hessen-T   5.050   6/29/2023   EUR   70.660
Raiffeisen Schweiz    5.750   09/02/2020  CHF   44.210
Landesbank Baden-Wu   2.700  10/23/2020   EUR   72.870
Landesbank Baden-Wu   3.300  10/23/2020   EUR   62.610
DekaBank Deutsche G   3.500   3/14/2022   EUR   56.540
DekaBank Deutsche G   3.150   03/05/2021  EUR   36.550
UBS AG/London         7.000   8/28/2020   CHF   66.550
UBS AG/London         7.000   8/28/2020   CHF   72.450
UBS AG/London         7.500   8/28/2020   EUR   66.650
Bayerische Landesba   2.000   12/11/2020  EUR   58.120
Bayerische Landesba   3.400   7/16/2021   EUR   58.600
Leonteq Securities    7.000   03/09/2022  CHF   71.910
Raiffeisen Schweiz    5.750   09/09/2020  CHF   46.830
DekaBank Deutsche G   2.750   3/26/2021   EUR   65.810
DekaBank Deutsche G   2.500   3/26/2021   EUR   60.270
DekaBank Deutsche G   2.900   3/26/2021   EUR   68.130
Landesbank Baden-Wu   2.300   3/25/2022   EUR   68.890
Landesbank Baden-Wu   3.000   3/25/2022   EUR   63.050
EFG International F   7.000   03/01/2021  CHF   57.570
Leonteq Securities    3.750   2/20/2023   CHF   41.510
Landesbank Hessen-T   4.000   9/22/2020   EUR   69.800
Landesbank Hessen-T   3.500   9/22/2020   EUR   48.900
DekaBank Deutsche G   5.000   9/14/2020   EUR   49.160
DekaBank Deutsche G   7.000   9/14/2020   EUR   37.050
Landesbank Hessen-T   4.000   3/23/2022   EUR   59.420
Landesbank Hessen-T   4.000   3/23/2022   EUR   46.950
UBS AG/London         5.500   8/21/2020   CHF   64.850
EFG International F   7.400   03/08/2021  CHF   53.510
Leonteq Securities    5.000   09/02/2020  CHF   43.610
DekaBank Deutsche G   3.000   7/24/2020   EUR   64.090
Landesbank Baden-Wu   2.600   6/24/2022   EUR   65.800
DekaBank Deutsche G   2.300   03/05/2021  EUR   58.410
DekaBank Deutsche G   2.450   03/05/2021  EUR   52.400
Skandinaviska Enski   7.900   1/17/2023   SEK
Landesbank Hessen-T   8.900   3/16/2023   EUR   57.870
Landesbank Hessen-T   7.600   03/09/2023  EUR   48.000
Raiffeisen Schweiz    5.250   8/26/2020   CHF   63.870
UniCredit Bank AG     4.500   03/12/2022  EUR   43.430
DekaBank Deutsche G   4.000   9/21/2021   EUR   57.790
EFG International F   6.600   03/08/2021  CHF   61.210
UBS AG/London         8.500   8/21/2020   EUR   29.980
Leonteq Securities    2.300   02/08/2023  CHF   33.890
UniCredit Bank AG     5.100   03/05/2021  EUR   58.940
UniCredit Bank AG     4.650   03/05/2021  EUR   36.490
Landesbank Baden-Wu   2.150  11/27/2020   EUR   70.360
Landesbank Baden-Wu   3.000   4/25/2022   EUR   61.540
Erste Group Bank AG   4.350   2/28/2022   EUR   48.250
UniCredit Bank AG     3.000   3/21/2023   EUR   67.500
DekaBank Deutsche G   2.150   8/28/2020   EUR   67.360
Landesbank Hessen-T   6.000   12/01/2022  EUR   27.960
Landesbank Hessen-T   5.200   09/08/2022  EUR   64.530
Landesbank Hessen-T   6.000   8/25/2023   EUR   39.860
UniCredit Bank AG     3.800   09/04/2021  EUR   64.140
Skandinaviska Enski   5.500   7/20/2022   SEK   64.160
Leonteq Securities   15.000   03/09/2021  CHF   15.020
Vontobel Financial    3.250   4/23/2021   EUR   68.260
Leonteq Securities    8.000  10/27/2020   CHF   45.060
Leonteq Securities    6.200   08/11/2020  CHF   56.990
UniCredit Bank AG     3.200   09/10/2022  EUR   71.420
Erste Group Bank AG   5.550   8/30/2022   EUR   69.100
UniCredit Bank AG     5.350   7/28/2020   EUR   27.220
Skandinaviska Enski   9.750   1/17/2023   SEK   38.280
Leonteq Securities   17.000   03/09/2021  USD   19.130
Landesbank Baden-Wu   2.600   9/24/2021   EUR   71.710
Landesbank Baden-Wu   2.650   9/24/2021   EUR   68.750
Getin Noble Bank SA   5.790   7/26/2024   PLN   74.000
DekaBank Deutsche G   2.450   8/28/2020   EUR   56.520
Getin Noble Bank SA   5.790   8/30/2024   PLN   70.000
Landesbank Baden-Wu   3.000   8/26/2022   EUR   66.810
Landesbank Hessen-T   4.000   03/08/2021  EUR   60.100
Landesbank Hessen-T   3.450   03/08/2021  EUR   70.400
Leonteq Securities    6.500   03/09/2021  CHF   68.730
Landesbank Hessen-T   3.500   09/08/2022  EUR   58.710
Societe Generale SA   4.000   4/17/2028   EUR   61.600
Vontobel Financial   15.000   6/25/2021   EUR   75.320
Vontobel Financial   13.000   6/25/2021   EUR   75.510
Vontobel Financial   14.000   6/25/2021   EUR   75.420
Vontobel Financial   18.500   6/25/2021   EUR   75.620
Vontobel Financial   19.500   6/25/2021   EUR   75.550
Vontobel Financial    4.100   03/12/2021  EUR   64.200
Landesbank Hessen-T   4.700   2/24/2023   EUR   68.650
Landesbank Hessen-T   6.450   2/24/2023   EUR   30.240
Zurcher Kantonalban   6.250   11/02/2020  CHF   53.830
EFG International F   7.200   11/09/2020  CHF   49.060
Leonteq Securities    6.400   11/03/2021  CHF   59.560
Leonteq Securities    7.200   11/03/2020  CHF   61.800
Commerzbank AG        2.850  10/26/2020   EUR   49.900
Landesbank Hessen-T   5.700  11/24/2022   EUR   65.790
Landesbank Hessen-T   3.750   06/04/2021  EUR   65.300
Landesbank Baden-Wu   2.200   7/24/2020   EUR   62.270
Landesbank Baden-Wu   2.450   7/24/2020   EUR   68.490
Leonteq Securities    8.000   06/08/2021  CHF   63.080
Leonteq Securities    5.200   06/11/2020  CHF   40.130
BNP Paribas Issuanc   7.000   06/01/2020  EUR   41.900
BNP Paribas Issuanc   5.600   06/01/2020  EUR   48.550
BNP Paribas Issuanc   6.600   06/01/2020  EUR   44.350
BNP Paribas Issuanc   6.800   06/01/2020  EUR   54.350
BNP Paribas Issuanc   5.800   06/01/2020  EUR   41.700
BNP Paribas Issuanc   5.800   06/01/2020  EUR   44.850
BNP Paribas Issuanc   6.400   06/01/2020  EUR   30.950
BNP Paribas Issuanc   6.200   06/01/2020  EUR   67.200
BNP Paribas Issuanc   5.000   06/01/2020  EUR   43.950
BNP Paribas Issuanc   4.800   06/01/2020  EUR   53.900
DekaBank Deutsche G   3.650   6/20/2022   EUR   62.290
DekaBank Deutsche G   3.000   6/26/2020   EUR   40.250
DekaBank Deutsche G   2.000   6/25/2021   EUR   39.630
Leonteq Securities    5.200   06/07/2022  CHF   63.960
UniCredit Bank AG     5.600   07/02/2021  EUR   64.650
UniCredit Bank AG     3.700   6/25/2022   EUR   71.140
Landesbank Baden-Wu   2.500   8/25/2023   EUR   56.970
Vontobel Financial    4.000   6/29/2020   EUR   58.170
Leonteq Securities    3.000  12/20/2021   CHF   67.710
Vontobel Financial    5.000   06/07/2021  EUR   70.590
Bayerische Landesba   2.500   07/10/2020  EUR   47.850
Bayerische Landesba   3.100   07/10/2020  EUR   54.610
Bayerische Landesba   2.600   07/09/2021  EUR   67.520
Raiffeisen Centroba   7.000   6/22/2020   EUR   54.160
Landesbank Hessen-T   2.000   6/13/2022   EUR   53.540
DekaBank Deutsche G   3.750   07/04/2022  EUR   70.850
Landesbank Hessen-T   7.600   07/06/2023  EUR   66.390
Leonteq Securities    2.500   06/05/2024  EUR   45.860
UBS AG/London         7.000   06/08/2020  CHF   56.400
UBS AG/London         5.750  11/23/2020   CHF   44.200
UBS AG/London        10.750   06/08/2020  CHF   39.450
Landesbank Hessen-T   6.000   07/06/2023  EUR   65.790
UBS AG/London         6.500   12/07/2020  EUR   45.200
UBS AG/London         7.250   06/08/2020  USD   49.600
EFG International F   5.800   6/21/2021   CHF   63.830
EFG International F   7.200   6/22/2020   EUR   45.870
EFG International F   6.400   6/22/2020   CHF   41.800
Leonteq Securities    6.800  12/15/2021   CHF   71.630
Leonteq Securities    5.000   6/15/2021   CHF   54.620
Leonteq Securities   10.280   06/11/2020  CHF   60.450
Leonteq Securities    7.000   6/15/2020   CHF   41.310
Credit Suisse AG/Na   7.000   6/18/2020   CHF   60.060
Raiffeisen Centroba   7.200   07/10/2020  EUR   52.910
Erste Group Bank AG   4.650   6/29/2022   EUR   52.150
Erste Group Bank AG   4.500   6/29/2023   EUR   71.100
Raiffeisen Schweiz    6.200  12/15/2020   CHF   69.840
Raiffeisen Schweiz    7.100   6/15/2020   CHF   40.250
Raiffeisen Schweiz    9.500  12/15/2020   CHF   44.120
Raiffeisen Schweiz    5.300  12/15/2020   EUR   64.060
Raiffeisen Schweiz    4.000  12/15/2021   CHF   56.460
Skandinaviska Enski  10.320   7/17/2023   SEK   33.910
Landesbank Hessen-T   5.150   6/14/2022   EUR   57.410
DekaBank Deutsche G   5.600   01/04/2021  EUR   47.440
DekaBank Deutsche G   4.300   01/04/2021  EUR   44.940
Landesbank Baden-Wu   2.150   7/23/2021   EUR   70.170
Landesbank Baden-Wu   3.500   7/23/2021   EUR   54.770
UBS AG/London         8.500   6/15/2020   USD   59.300
UBS AG/London        10.250   6/15/2020   CHF   22.320
UBS AG/London         8.000   6/15/2020   CHF   55.200
UBS AG/London         7.000  12/14/2020   CHF   25.600
UBS AG/London        10.500   6/15/2020   EUR   48.850
UBS AG/London         8.750   6/15/2020   EUR   35.250
UBS AG/London         6.500  12/14/2020   EUR   61.400
UBS AG/London         6.500  12/14/2020   EUR   57.600
Landesbank Hessen-T   3.500   7/19/2021   EUR   61.500
Bayerische Landesba   3.000   7/17/2020   EUR   53.710
EFG International F   5.400  12/27/2021   CHF   71.060
Credit Suisse AG/Na   7.000   6/22/2021   CHF   45.100
DekaBank Deutsche G   3.350   07/10/2020  EUR   41.140
DekaBank Deutsche G   2.450   07/10/2020  EUR   53.730
DekaBank Deutsche G   2.350   07/09/2021  EUR   66.320
DekaBank Deutsche G   2.000   07/09/2021  EUR   70.020
Vontobel Financial    4.200   07/06/2021  EUR   55.740
Corner Banca SA       7.400   6/22/2020   CHF   68.450
SecurAsset SA         5.250   6/30/2022   EUR   26.730
Leonteq Securities    5.200  12/22/2020   CHF   42.040
Raiffeisen Schweiz    6.100   6/22/2020   CHF   57.990
Raiffeisen Schweiz    5.000  12/22/2020   CHF   64.220
Raiffeisen Schweiz    4.000  12/22/2021   CHF   56.390
Zurcher Kantonalban   3.400   6/15/2020   CHF   63.380
SG Issuer SA          4.000   6/22/2026   EUR   32.810
Leonteq Securities    2.000   09/07/2023  CHF   66.590
Landesbank Baden-Wu   2.700   9/23/2022   EUR   72.610
Landesbank Baden-Wu   3.000   9/23/2022   EUR   56.660
Landesbank Baden-Wu   2.650   9/23/2022   EUR   60.180
Landesbank Hessen-T   4.000   7/20/2022   EUR   69.020
Landesbank Hessen-T   4.000   7/20/2022   EUR   65.360
Landesbank Hessen-T   3.500   08/03/2022  EUR   48.350
Landesbank Hessen-T   4.000   08/03/2022  EUR   56.540
Landesbank Hessen-T   5.750   08/03/2023  EUR   43.370
Landesbank Hessen-T   3.000   06/08/2020  EUR   70.900
Bayerische Landesba   2.000   08/07/2020  EUR   70.120
Natixis SA            2.500   07/12/2021  EUR   56.695
DekaBank Deutsche G   3.000   7/31/2020   EUR   56.260
DekaBank Deutsche G   3.100   7/31/2020   EUR   41.950
Landesbank Baden-Wu   3.000   7/24/2020   EUR   57.950
Landesbank Baden-Wu   2.000   7/24/2020   EUR   41.200
Landesbank Baden-Wu   3.500   7/24/2020   EUR   36.670
Landesbank Baden-Wu   2.000   7/24/2020   EUR   62.600
Landesbank Baden-Wu   3.000   7/24/2020   EUR   57.630
Landesbank Baden-Wu   4.000   7/24/2020   EUR   53.840
Landesbank Baden-Wu   5.000   7/24/2020   EUR   50.910
Landesbank Baden-Wu   3.500   7/24/2020   EUR   51.390
Landesbank Baden-Wu   3.000   7/24/2020   EUR   38.300
Landesbank Baden-Wu   3.500   7/24/2020   EUR   67.400
Landesbank Baden-Wu   5.000   7/24/2020   EUR   59.470
Landesbank Baden-Wu   6.500   7/24/2020   EUR   54.260
Landesbank Baden-Wu   2.000   7/24/2020   EUR   61.760
Landesbank Baden-Wu   3.000   7/24/2020   EUR   57.470
Landesbank Baden-Wu   3.500   7/24/2020   EUR   66.910
Landesbank Baden-Wu   4.500   7/24/2020   EUR   63.450
Landesbank Baden-Wu   3.500   7/24/2020   EUR   42.610
Landesbank Baden-Wu   5.500   7/24/2020   EUR   37.030
Landesbank Baden-Wu   3.000   7/24/2020   EUR   73.990
Landesbank Baden-Wu   4.000   7/24/2020   EUR   69.030
Landesbank Baden-Wu   5.000   7/24/2020   EUR   65.250
Landesbank Baden-Wu   6.000   7/24/2020   EUR   62.440
Landesbank Baden-Wu   2.000   7/24/2020   EUR   60.500
Landesbank Baden-Wu   3.500   7/24/2020   EUR   53.150
Landesbank Baden-Wu   5.000   7/24/2020   EUR   48.200
Landesbank Baden-Wu   2.500   7/24/2020   EUR   65.790
Landesbank Baden-Wu   4.000   7/24/2020   EUR   60.710
Landesbank Baden-Wu   2.500   7/24/2020   EUR   48.710
Landesbank Baden-Wu   5.000   7/24/2020   EUR   41.620
Landesbank Baden-Wu   2.500   7/24/2020   EUR   66.080
Landesbank Baden-Wu   4.000   7/24/2020   EUR   60.480
Landesbank Baden-Wu   2.000   7/24/2020   EUR   37.090
Landesbank Baden-Wu   3.500   7/24/2020   EUR   33.320
Landesbank Baden-Wu   4.000   7/24/2020   EUR   72.220
Landesbank Baden-Wu   2.500   7/24/2020   EUR   71.900
Landesbank Baden-Wu   4.000   7/24/2020   EUR   62.340
Landesbank Baden-Wu   5.500   7/24/2020   EUR   60.210
Landesbank Baden-Wu   3.500   7/24/2020   EUR   70.470
Landesbank Baden-Wu   3.500   7/24/2020   EUR   55.330
Landesbank Baden-Wu   5.000   7/24/2020   EUR   50.820
Landesbank Baden-Wu   2.000   7/24/2020   EUR   34.910
Landesbank Baden-Wu   3.500   7/24/2020   EUR   31.180
Landesbank Baden-Wu   3.000   7/24/2020   EUR   71.430
Landesbank Baden-Wu   4.000   7/24/2020   EUR   67.340
Landesbank Baden-Wu   2.500   7/24/2020   EUR   65.990
Landesbank Baden-Wu   4.000   7/24/2020   EUR   59.250
Landesbank Baden-Wu   2.500   7/24/2020   EUR   42.060
Landesbank Baden-Wu   3.500   7/24/2020   EUR   39.220
Landesbank Baden-Wu   2.050   7/23/2021   EUR   68.080
Landesbank Baden-Wu   3.100   7/23/2021   EUR   71.410
Landesbank Baden-Wu   3.500   7/23/2021   EUR   53.980
Erste Group Bank AG   6.250   7/27/2023   EUR   60.350
Leonteq Securities    4.130   07/06/2020  CHF   62.690
Landesbank Hessen-T   7.500   11/03/2023  EUR   49.950
UBS AG/London         6.000   6/29/2020   CHF   58.550
UBS AG/London        11.000   6/29/2020   CHF   26.380
UBS AG/London         7.000   6/29/2020   CHF   57.450
UBS AG/London         7.000   6/29/2020   CHF   60.700
UBS AG/London         5.750   6/29/2020   CHF   63.300
UBS AG/London         6.500   6/29/2020   EUR   51.150
UBS AG/London         6.500   6/29/2020   CHF   41.150
UniCredit Bank AG     3.000   08/03/2023  EUR   66.870
DekaBank Deutsche G   7.000   02/01/2021  EUR   54.480
Erste Group Bank AG   4.650   7/27/2022   EUR   50.150
Credit Suisse AG/Na   7.000   1/13/2021   CHF   46.210
Leonteq Securities    7.600   7/13/2021   CHF   48.660
Leonteq Securities    8.400   7/13/2020   EUR   47.570
Leonteq Securities    6.200   1/13/2021   CHF   46.840
Leonteq Securities    7.600   7/13/2020   CHF   37.660
Raiffeisen Schweiz    7.000   7/13/2020   EUR   59.460
Raiffeisen Schweiz    6.000   7/13/2020   CHF   59.580
Bayerische Landesba   3.150   7/31/2020   EUR   57.480
Leonteq Securities    6.800   7/21/2020   CHF   38.310
Landesbank Baden-Wu   3.000   9/24/2021   EUR   69.910
Landesbank Hessen-T   4.000   8/18/2021   EUR   39.050
UniCredit Bank AG     4.300   8/29/2020   EUR   61.100
EFG International F   6.600   08/03/2020  EUR   59.940
UniCredit Bank AG     3.600   8/23/2021   EUR   28.110
DekaBank Deutsche G   3.000  12/28/2020   EUR   58.220
Leonteq Securities    7.000   7/28/2020   CHF   52.890
Leonteq Securities    6.200   7/28/2020   CHF   38.870
Leonteq Securities    5.200   7/28/2020   CHF   56.980
Landesbank Hessen-T   5.000  11/25/2022   EUR   71.020
Societe Generale SA   8.600   7/29/2022   USD   25.700
Societe Generale Ef  16.000   9/25/2020   EUR   68.090
Societe Generale Ef  19.250   9/25/2020   EUR   62.840
Corner Banca SA      14.400   09/02/2021  USD   64.190
UniCredit Bank AG     7.850   03/03/2021  EUR   63.090
Leonteq Securities    4.810   03/03/2022  CHF   65.540
Leonteq Securities    3.910   03/03/2023  CHF   61.750
Corner Banca SA       9.000   09/02/2021  CHF   69.330
Zurcher Kantonalban   7.550   09/03/2021  USD   66.510
Credit Suisse AG/Lo   9.000   06/02/2021  CHF   72.750
Credit Suisse AG/Lo   6.650   09/02/2022  CHF   65.460
EFG International F   4.700   03/03/2023  USD   66.560
Raiffeisen Schweiz    6.160   09/02/2021  EUR   68.630
Zurcher Kantonalban   5.000   06/10/2021  CHF   66.540
Zurcher Kantonalban  12.000   03/10/2022  CHF   54.060
Vontobel Financial    8.350   09/01/2020  EUR   70.520
Raiffeisen Schweiz    6.500   09/02/2021  CHF   67.610
Raiffeisen Schweiz    6.000   09/02/2022  CHF   61.800
Bank Julius Baer &    9.000   03/04/2021  USD   67.700
Bank Julius Baer &   12.800   03/04/2021  CHF   50.650
Landesbank Baden-Wu   2.300   2/25/2022   EUR   69.510
Landesbank Baden-Wu   3.800   2/25/2022   EUR   65.920
Landesbank Baden-Wu   2.000   2/25/2022   EUR   71.120
Landesbank Baden-Wu   3.300   2/25/2022   EUR   66.520
Landesbank Baden-Wu   4.500   2/25/2022   EUR   63.240
Landesbank Baden-Wu   5.900   2/25/2022   EUR   61.650
Landesbank Baden-Wu   4.500   2/25/2022   EUR   71.450
Landesbank Baden-Wu   4.200   2/25/2022   EUR   68.930
Landesbank Baden-Wu   6.200   2/25/2022   EUR   66.240
Landesbank Baden-Wu   6.400   2/25/2022   EUR   68.700
Landesbank Baden-Wu   2.700   2/25/2022   EUR   70.860
Landesbank Baden-Wu   4.500   2/25/2022   EUR   68.710
Landesbank Baden-Wu   6.500   2/25/2022   EUR   67.800
Landesbank Baden-Wu   5.500   2/25/2022   EUR   72.760
Landesbank Baden-Wu   2.800   2/25/2022   EUR   72.500
Landesbank Baden-Wu   3.900   2/25/2022   EUR   70.950
Landesbank Baden-Wu   5.000   2/25/2022   EUR   69.460
Landesbank Baden-Wu   1.800   2/25/2022   EUR   66.750
Landesbank Baden-Wu   3.000   2/25/2022   EUR   64.240
Landesbank Baden-Wu   3.800   2/25/2022   EUR   62.470
Landesbank Baden-Wu   1.700   2/25/2022   EUR   57.840
Landesbank Baden-Wu   2.300   2/25/2022   EUR   56.610
Landesbank Baden-Wu   3.000   2/25/2022   EUR   55.690
Landesbank Baden-Wu   3.800   2/25/2022   EUR   55.080
Landesbank Baden-Wu   4.500   2/25/2022   EUR   54.420
Landesbank Baden-Wu   5.300   2/25/2022   EUR   54.060
Landesbank Baden-Wu   2.000   2/25/2022   EUR   69.720
Landesbank Baden-Wu   3.000   2/25/2022   EUR   68.600
Landesbank Baden-Wu   4.200   2/25/2022   EUR   71.500
Landesbank Baden-Wu   5.700   2/25/2022   EUR   69.380
Landesbank Baden-Wu   1.200   2/25/2022   EUR   72.460
Landesbank Baden-Wu   2.600   2/25/2022   EUR   70.070
Landesbank Baden-Wu   3.700   2/25/2022   EUR   68.760
Landesbank Baden-Wu   4.000   2/25/2022   EUR   72.200
Landesbank Baden-Wu   5.800   2/25/2022   EUR   70.310
Landesbank Baden-Wu   2.200   2/25/2022   EUR   58.340
Landesbank Baden-Wu   3.500   2/25/2022   EUR   55.830
Landesbank Baden-Wu   5.100   2/25/2022   EUR   54.470
Landesbank Baden-Wu   5.000   2/25/2022   EUR   72.870
Landesbank Baden-Wu   6.100   2/25/2022   EUR   72.290
Landesbank Baden-Wu   2.000   2/25/2022   EUR   69.030
Landesbank Baden-Wu   3.500   2/25/2022   EUR   65.300
Landesbank Baden-Wu   1.900   2/25/2022   EUR   72.120
Landesbank Baden-Wu   3.100   2/25/2022   EUR   70.080
Landesbank Baden-Wu   4.000   2/25/2022   EUR   70.350
Landesbank Baden-Wu   5.500   2/25/2022   EUR   69.420
Landesbank Baden-Wu   6.600   2/25/2022   EUR   68.980
Landesbank Baden-Wu   7.800   2/25/2022   EUR   68.750
Landesbank Baden-Wu   8.500   2/25/2022   EUR   68.840
Landesbank Baden-Wu  10.000   2/25/2022   EUR   69.230
Landesbank Baden-Wu   3.400   2/25/2022   EUR   74.720
Landesbank Baden-Wu   3.100   2/25/2022   EUR   73.660
Landesbank Baden-Wu   4.500   2/25/2022   EUR   70.510
Landesbank Baden-Wu   5.700   2/25/2022   EUR   68.300
Landesbank Baden-Wu   2.000   3/25/2022   EUR   70.890
Landesbank Baden-Wu   2.800   3/25/2022   EUR   69.740
Landesbank Baden-Wu   4.300   3/25/2022   EUR   68.690
Credit Suisse AG/Lo   6.750   03/03/2022  CHF   71.810
Zurcher Kantonalban   6.800   09/01/2021  EUR   70.300
Vontobel Financial   19.000   3/26/2021   EUR   73.320
Vontobel Financial   20.500   3/26/2021   EUR   73.330
Vontobel Financial   22.000   3/26/2021   EUR   73.360
Vontobel Financial   13.500  12/28/2020   EUR   74.700
Vontobel Financial   15.000  12/28/2020   EUR   74.230
Vontobel Financial   17.000  12/28/2020   EUR   74.030
Vontobel Financial   19.000  12/28/2020   EUR   73.820
Vontobel Financial   21.000  12/28/2020   EUR   73.600
Vontobel Financial   23.000  12/28/2020   EUR   73.370
Vontobel Financial   25.000  12/28/2020   EUR   73.120
Vontobel Financial   10.500   3/26/2021   EUR   67.260
Vontobel Financial    4.000  12/28/2020   EUR   72.780
Vontobel Financial    4.500  12/28/2020   EUR   71.680
Vontobel Financial    7.000  12/28/2020   EUR   69.100
Vontobel Financial    8.000  12/28/2020   EUR   68.430
Vontobel Financial    9.500  12/28/2020   EUR   68.020
Vontobel Financial   10.500  12/28/2020   EUR   67.360
Vontobel Financial   11.500  12/28/2020   EUR   66.780
Vontobel Financial   10.500   3/26/2021   EUR   73.750
Vontobel Financial   12.000   3/26/2021   EUR   73.760
Vontobel Financial   13.000   3/26/2021   EUR   73.350
Vontobel Financial   14.500   3/26/2021   EUR   73.350
Vontobel Financial   16.000   3/26/2021   EUR   73.330
Vontobel Financial    3.500   3/26/2021   EUR   72.370
Vontobel Financial    4.000   3/26/2021   EUR   71.490
Vontobel Financial    4.500   3/26/2021   EUR   70.610
Vontobel Financial    5.500   3/26/2021   EUR   70.200
Vontobel Financial   17.500   3/26/2021   EUR   73.320
DZ Bank AG Deutsche   3.300   3/24/2021   EUR   72.210
DZ Bank AG Deutsche   2.500   3/24/2021   EUR   70.200
DZ Bank AG Deutsche   8.250   9/23/2020   EUR   61.900
Societe Generale Ef  21.500   7/24/2020   EUR   69.050
Societe Generale Ef  17.500   2/26/2021   EUR   73.180
Leonteq Securities    4.000   03/03/2022  EUR   16.360
UBS AG/London        10.500   03/04/2021  CHF   68.300
UBS AG/London        12.500   09/06/2021  CHF   69.850
Landesbank Baden-Wu   9.310   3/26/2021   EUR   72.720
UBS AG/London         7.500   09/06/2021  CHF   72.200
UBS AG/London         8.500   09/06/2021  CHF   49.700
Landesbank Hessen-T   4.600   7/23/2024   EUR   64.060
DekaBank Deutsche G   3.000   7/17/2020   EUR   45.040
Raiffeisen Centroba   5.250   7/21/2020   EUR   60.920
Raiffeisen Centroba   5.300   7/21/2020   EUR   46.670
DekaBank Deutsche G   3.250   1/18/2021   EUR   56.820
Leonteq Securities    6.100  12/15/2020   EUR   58.040
Vontobel Financial    8.300   6/19/2020   CHF   61.800
UniCredit Bank AG     3.800   7/27/2021   EUR   59.850
UBS AG/London         6.000   6/22/2020   EUR   49.050
Vontobel Financial    5.850   6/22/2020   EUR   59.300
Raiffeisen Schweiz    6.000   6/29/2020   CHF   62.470
Raiffeisen Schweiz    5.700  12/29/2020   EUR   56.420
Raiffeisen Schweiz    4.100  12/29/2021   CHF   56.310
Societe Generale Ef   9.500   9/25/2020   EUR   69.830
Societe Generale Ef  11.250   1/22/2021   EUR   58.570
Societe Generale Ef  15.500   9/25/2020   EUR   68.780
Societe Generale Ef  16.250  11/27/2020   EUR   70.320
Societe Generale Ef  13.750   1/22/2021   EUR   71.390
Societe Generale Ef   6.750  11/27/2020   EUR   62.180
Societe Generale Ef   8.750  11/27/2020   EUR   60.070
Societe Generale Ef  10.750  11/27/2020   EUR   58.600
Societe Generale Ef  12.750  11/27/2020   EUR   57.520
Societe Generale Ef   4.000  12/28/2020   EUR   66.750
Societe Generale Ef  12.000  12/28/2020   EUR   58.140
Societe Generale Ef   5.250   1/22/2021   EUR   64.240
Societe Generale Ef  18.250   9/25/2020   EUR   67.370
Societe Generale Ef  16.750  10/23/2020   EUR   68.280
Societe Generale Ef  15.500  11/27/2020   EUR   69.060
Societe Generale Ef  15.000  12/28/2020   EUR   69.760
Societe Generale Ef  14.250   1/22/2021   EUR   70.180
UBS AG/London        10.500   11/03/2020  CHF   34.050
EFG International F   6.400  11/17/2020   CHF   54.530
DekaBank Deutsche G   5.950   12/04/2020  EUR   44.020
DekaBank Deutsche G   4.350   12/04/2020  EUR   54.930
Raiffeisen Schweiz    5.200   11/11/2020  CHF   42.750
Landesbank Baden-Wu   2.490   6/25/2021   EUR   70.290
Landesbank Baden-Wu   2.000   7/22/2022   EUR   64.000
Landesbank Baden-Wu   2.300   7/22/2022   EUR   71.950
UniCredit Bank AG     5.400   06/04/2021  EUR   57.220
Corner Banca SA       8.000   5/25/2021   CHF   44.730
UniCredit Bank AG     5.000   06/11/2021  EUR   52.390
UniCredit Bank AG     4.650   06/04/2022  EUR   55.380
Leonteq Securities    8.000   7/14/2020   CHF   53.690
Leonteq Securities    7.000   7/14/2020   CHF   38.820
UniCredit Bank AG     4.500   1/18/2022   EUR   49.950
UniCredit Bank AG     5.300   7/19/2021   EUR   54.910
Bayerische Landesba   2.600   7/16/2021   EUR   71.240
Landesbank Baden-Wu   3.000   2/26/2021   EUR   50.600
UBS AG/London         8.500   6/22/2020   EUR   23.560
UBS AG/London         5.750   6/22/2020   EUR   69.000
UniCredit Bank AG     3.500   01/05/2021  EUR   34.220
DekaBank Deutsche G   2.900   08/07/2020  EUR   55.060
DekaBank Deutsche G   4.550   7/31/2020   EUR   44.560
DekaBank Deutsche G   2.250   1/22/2021   EUR   45.650
UniCredit Bank AG     3.750   1/18/2022   EUR   56.450
Landesbank Baden-Wu   2.300   2/25/2022   EUR   58.780
Landesbank Baden-Wu   2.300   2/25/2022   EUR   72.450
Landesbank Baden-Wu   2.750   2/25/2022   EUR   71.770
Landesbank Baden-Wu   2.400   2/25/2022   EUR   57.820
Landesbank Baden-Wu   3.000   2/25/2022   EUR   62.930
Landesbank Baden-Wu   2.650   9/25/2020   EUR   56.830
Erste Group Bank AG   5.800   1/31/2023   EUR   50.300
Leonteq Securities    7.000   01/08/2021  CHF   52.990
DekaBank Deutsche G   3.000   06/12/2020  EUR   64.720
Landesbank Baden-Wu   2.200   9/25/2020   EUR   64.880
DekaBank Deutsche G   2.000   1/22/2021   EUR   52.320
DekaBank Deutsche G   2.000   1/22/2021   EUR   39.440
EFG International F   7.600   01/11/2021  CHF   52.040
EFG International F   7.400   01/11/2021  CHF   55.620
EFG International F   6.200   01/11/2021  EUR   63.200
EFG International F   7.400   01/11/2021  USD   43.590
EFG International F   7.400   1/25/2021   CHF   51.760
EFG International F   6.400   1/25/2021   CHF   62.560
EFG International F   7.200   1/25/2021   EUR   42.050
Leonteq Securities    7.000   1/19/2021   CHF   60.640
Leonteq Securities    6.400   1/19/2021   CHF   47.240
Leonteq Securities    8.000   7/22/2020   CHF   46.110
UniCredit Bank AG     4.200   02/12/2021  EUR   37.240
UniCredit Bank AG     4.400   02/12/2021  EUR   57.800
UniCredit Bank AG     5.000   02/12/2021  EUR   72.880
UniCredit Bank AG     5.900   02/12/2021  EUR   28.110
UniCredit Bank AG     4.550   02/12/2021  EUR   36.570
UniCredit Bank AG     3.500   08/12/2021  EUR   59.580
UBS AG/London         4.000   07/06/2021  EUR   54.690
Bayerische Landesba   2.200   8/20/2021   EUR   60.450
Bayerische Landesba   2.600   8/20/2021   EUR   69.270
Landesbank Baden-Wu   3.100   3/26/2021   EUR   50.700
Landesbank Baden-Wu   3.000   3/26/2021   EUR   64.650
Landesbank Baden-Wu   3.550   3/26/2021   EUR   63.360
Landesbank Baden-Wu   3.000   3/26/2021   EUR   47.480
Landesbank Baden-Wu   2.650   1/27/2023   EUR   53.200
Landesbank Baden-Wu   2.350  10/23/2020   EUR   64.380
Landesbank Baden-Wu   3.000  10/23/2020   EUR   72.780
Landesbank Baden-Wu   2.750  10/23/2020   EUR   57.300
Landesbank Baden-Wu   3.750  12/29/2020   EUR   53.820
Landesbank Baden-Wu   5.750  12/29/2020   EUR   73.390
Raiffeisen Centroba   9.965   9/23/2020   EUR   68.370
Raiffeisen Centroba  10.588   9/23/2020   EUR   53.050
UniCredit Bank AG     4.100   3/15/2023   EUR   73.370
Raiffeisen Centroba   9.031   9/23/2020   EUR   64.490
BNP Paribas Emissio  17.000   9/24/2020   EUR   75.300
BNP Paribas Emissio  11.000   9/24/2020   EUR   42.800
BNP Paribas Emissio  16.000   6/25/2020   EUR   62.030
BNP Paribas Emissio   6.500   9/24/2020   EUR   44.330
BNP Paribas Emissio  12.000   6/25/2020   EUR   56.760
Raiffeisen Schweiz    5.750   2/25/2021   CHF   61.830
Raiffeisen Centroba  13.171   9/23/2020   EUR   68.210
Deutsche Bank AG      6.200   6/23/2020   EUR   68.000
Deutsche Bank AG      6.200  12/22/2020   EUR   68.800
Deutsche Bank AG      6.200  12/22/2020   EUR   57.400
Deutsche Bank AG      6.200  12/22/2020   EUR   47.900
Deutsche Bank AG      6.200   9/22/2020   EUR   48.700
Deutsche Bank AG      6.200  12/22/2020   EUR   50.100
Deutsche Bank AG      6.200   9/22/2020   EUR   64.900
Deutsche Bank AG      6.200  12/22/2020   EUR   60.900
Deutsche Bank AG      6.200  12/22/2020   EUR   61.520
Deutsche Bank AG      6.200  12/22/2020   EUR   56.770
Deutsche Bank AG      6.200   6/23/2020   EUR   47.810
Deutsche Bank AG      6.200  12/22/2020   EUR   53.950
Deutsche Bank AG      6.200  12/22/2020   EUR   51.280
Deutsche Bank AG      6.200  12/22/2020   EUR   48.850
Deutsche Bank AG      6.200  12/22/2020   EUR   73.800
Deutsche Bank AG      6.200  12/22/2020   EUR   72.600
DZ Bank AG Deutsche  11.000   6/24/2020   EUR   60.700
DZ Bank AG Deutsche   9.250   6/24/2020   EUR   46.510
DZ Bank AG Deutsche   9.000   6/24/2020   EUR   65.910
UBS AG/London         5.000   8/27/2020   CHF   50.300
Leonteq Securities    3.600   03/01/2021  EUR   42.105
Raiffeisen Centroba   5.070   9/23/2020   EUR   59.510
Raiffeisen Centroba  11.092   9/23/2020   EUR   66.730
Deutsche Bank AG      4.200  12/22/2020   EUR   54.260
UniCredit Bank AG     3.000   8/13/2021   EUR   70.250
EFG International F   5.000   6/29/2020   CHF   52.530
Raiffeisen Schweiz    6.200   03/01/2021  CHF   69.010
Raiffeisen Schweiz    5.000   09/01/2020  CHF   67.360
Leonteq Securities    6.600   6/30/2020   CHF   40.370
Leonteq Securities    5.400   6/30/2020   CHF   51.940
DekaBank Deutsche G   3.050   7/26/2022   EUR   63.120
Landesbank Baden-Wu   3.050   7/24/2020   EUR   56.880
Landesbank Baden-Wu   3.000   7/24/2020   EUR   60.330
Bayerische Landesba   2.500   08/07/2020  EUR   62.760
Societe Generale SA  13.200   12/11/2020  USD   18.180
DekaBank Deutsche G   3.000   6/17/2020   EUR   57.850
Landesbank Hessen-T   3.250   02/10/2021  EUR   57.100
Landesbank Baden-Wu   2.400   9/25/2020   EUR   65.000
Landesbank Baden-Wu   2.800  12/23/2022   EUR   54.130
UniCredit Bank AG     4.400   7/29/2021   EUR   71.610
UniCredit Bank AG     4.500   08/06/2021  EUR   53.570
Leonteq Securities    8.800  12/28/2020   EUR   49.610
UniCredit Bank AG     6.000   1/18/2021   EUR   26.970
Leonteq Securities    7.400  12/29/2020   CHF   65.810
Nordea Bank Abp       4.000   1/20/2023   SEK   69.000
UniCredit Bank AG     4.100   2/13/2023   EUR   73.630
UniCredit Bank AG     3.500   2/13/2023   EUR   45.860
Landesbank Baden-Wu   3.000   2/26/2021   EUR   63.880
Landesbank Baden-Wu   3.550   2/26/2021   EUR   65.960
Landesbank Hessen-T   3.100   7/29/2020   EUR   60.200
Landesbank Hessen-T   4.000   02/09/2022  EUR   70.120
Landesbank Hessen-T   5.000   08/11/2021  EUR   67.910
DekaBank Deutsche G   2.100   01/05/2021  EUR   38.660
Raiffeisen Schweiz    7.410   7/13/2020   CHF   39.110
Landesbank Hessen-T   3.000   7/29/2020   EUR   55.000
UniCredit Bank AG     4.000   01/05/2021  EUR   66.800
DekaBank Deutsche G   2.400   08/07/2020  EUR   63.970
DekaBank Deutsche G   6.050   7/31/2020   EUR   32.740
Landesbank Hessen-T   4.600   05/02/2023  EUR   54.820
Landesbank Baden-Wu   2.600   9/25/2020   EUR   34.850
UBS AG/London         5.750   6/29/2020   CHF   51.100
UBS AG/London         6.250   6/29/2020   CHF   70.900
UBS AG/London         7.000   6/29/2020   CHF   43.700
Bayerische Landesba   2.700   8/20/2021   EUR   56.600
Leonteq Securities    7.200   01/04/2021  CHF   64.040
Leonteq Securities    6.400   01/12/2021  CHF   61.400
Leonteq Securities    8.000   01/12/2021  EUR   62.030
Leonteq Securities    9.000   01/12/2021  USD   24.040
UBS AG/London         9.750   07/06/2020  EUR   48.100
Leonteq Securities    7.600   01/12/2021  CHF   49.910
Leonteq Securities    7.400   01/12/2021  CHF   51.680
Landesbank Hessen-T   4.000   1/26/2022   EUR   65.180
UBS AG/London         5.750   07/06/2020  EUR   62.700
Danske Bank A/S       2.300   07/10/2023  SEK   72.460
Danske Bank A/S       4.750   1/20/2022   SEK   70.380
Landesbank Baden-Wu   2.800   7/22/2022   EUR   63.780
Landesbank Hessen-T   7.250   06/08/2023  EUR   63.610
Landesbank Hessen-T   5.500   06/08/2023  EUR   62.040
UniCredit Bank AG     4.970   3/27/2023   EUR   68.120
UniCredit Bank AG     5.450   3/15/2022   EUR   50.140
UniCredit Bank AG     3.900   3/15/2022   EUR   72.250
DekaBank Deutsche G   3.000   04/03/2024  EUR   70.270
Bayerische Landesba   2.500   04/01/2021  EUR   51.280
BNP Paribas Emissio   8.500   9/24/2020   EUR   50.780
BNP Paribas Emissio   6.500   6/25/2020   EUR   59.470
BNP Paribas Emissio  20.000   6/25/2020   EUR   55.520
BNP Paribas Emissio   8.000   9/24/2020   EUR   61.480
Deutsche Bank AG      6.200  12/22/2020   EUR   71.400
DZ Bank AG Deutsche   8.500   6/22/2020   EUR   68.660
DZ Bank AG Deutsche   4.700   6/22/2020   EUR   58.650
Raiffeisen Schweiz    8.000   8/25/2020   EUR   41.170
Leonteq Securities   17.400   2/22/2021   RUB   41.990
Raiffeisen Schweiz    7.000   2/25/2021   CHF   67.570
Raiffeisen Centroba   6.400   04/01/2021  EUR   56.570
Deutsche Bank AG      6.200  12/22/2020   EUR   65.700
Deutsche Bank AG      6.200   6/23/2020   EUR   60.410
Landesbank Hessen-T   4.000   7/21/2021   EUR   55.750
Luzerner Kantonalba   7.800   9/14/2020   CHF   66.910
Deutsche Bank AG      4.200   9/22/2020   EUR   73.900
Deutsche Bank AG      4.200   6/23/2020   EUR   63.420
Deutsche Bank AG      4.200   6/23/2020   EUR   57.420
Deutsche Bank AG      4.200   6/23/2020   EUR   52.450
Deutsche Bank AG      4.200  12/22/2020   EUR   71.900
Landesbank Hessen-T   4.600   07/08/2020  EUR   45.800
HSBC Trinkaus & Bur   4.300   9/25/2020   EUR   61.690
HSBC Trinkaus & Bur   2.300   9/25/2020   EUR   69.320
HSBC Trinkaus & Bur   5.200   7/24/2020   EUR   58.920
HSBC Trinkaus & Bur  11.400  12/28/2020   EUR   72.590
HSBC Trinkaus & Bur   9.800   6/26/2020   EUR   42.560
HSBC Trinkaus & Bur  11.300   9/25/2020   EUR   36.030
HSBC Trinkaus & Bur  10.200   9/25/2020   EUR   51.690
HSBC Trinkaus & Bur   4.300   9/25/2020   EUR   64.350
HSBC Trinkaus & Bur   7.900   7/24/2020   EUR   57.050
DekaBank Deutsche G   2.000   6/28/2021   EUR   65.410
Deutsche Bank AG      4.200   9/22/2020   EUR   50.300
Goldman Sachs & Co    8.000   6/24/2020   EUR   64.920
Goldman Sachs & Co   10.000   9/23/2020   EUR   66.440
Goldman Sachs & Co    8.000  12/23/2020   EUR   67.310
DekaBank Deutsche G   2.750   07/10/2020  EUR   54.190
Landesbank Hessen-T   6.000   08/04/2022  EUR   54.960
Raiffeisen Schweiz   11.200   09/09/2021  CHF   72.480
Zurcher Kantonalban   9.250   9/17/2021   CHF   64.080
Landesbank Hessen-T   4.000   06/08/2022  EUR   54.860
Landesbank Hessen-T   4.000   06/08/2022  EUR   40.660
Landesbank Hessen-T   4.000   06/08/2022  EUR   55.250
DZ Bank AG Deutsche  10.250   6/21/2021   EUR   72.130
DZ Bank AG Deutsche  12.500   3/22/2021   EUR   70.550
Leonteq Securities    8.400   05/11/2021  CHF   57.670
Landesbank Baden-Wu   4.850   6/26/2020   EUR   39.410
Landesbank Baden-Wu   5.000   6/26/2020   EUR   43.350
Landesbank Baden-Wu   5.250   6/26/2020   EUR   32.610
EFG International F   6.200   5/25/2021   CHF   64.230
EFG International F   6.400   5/24/2021   EUR   48.020
Bayerische Landesba   2.300  11/26/2021   EUR   70.480
Deutsche Bank AG      4.200   6/23/2020   EUR   70.850
Landesbank Hessen-T   4.000   7/21/2021   EUR   55.720
Landesbank Hessen-T   5.650  10/28/2022   EUR   34.040
Deutsche Bank AG      4.200   9/22/2020   EUR   53.110
Deutsche Bank AG      4.200  12/22/2020   EUR   63.010
Deutsche Bank AG      4.200  12/22/2020   EUR   72.600
Deutsche Bank AG      4.200  12/22/2020   EUR   70.300
HSBC Trinkaus & Bur   4.300   6/26/2020   EUR   60.970
HSBC Trinkaus & Bur   6.400   9/25/2020   EUR   56.670
HSBC Trinkaus & Bur   7.000   9/25/2020   EUR   69.320
HSBC Trinkaus & Bur   8.800   9/25/2020   EUR   37.760
HSBC Trinkaus & Bur   2.200  12/28/2020   EUR   51.480
HSBC Trinkaus & Bur   8.100   6/26/2020   EUR   66.860
HSBC Trinkaus & Bur   9.700   6/26/2020   EUR   69.390
HSBC Trinkaus & Bur   9.000   9/25/2020   EUR   42.950
HSBC Trinkaus & Bur   4.100  12/28/2020   EUR   51.640
HSBC Trinkaus & Bur   4.400   7/24/2020   EUR   44.030
HSBC Trinkaus & Bur  11.400   9/25/2020   EUR   57.260
HSBC Trinkaus & Bur   5.200   9/25/2020   EUR   55.890
HSBC Trinkaus & Bur   3.000   7/24/2020   EUR   59.750
HSBC Trinkaus & Bur   8.200   9/25/2020   EUR   64.540
Leonteq Securities    9.000   09/01/2020  CHF   68.950
Deutsche Bank AG      4.200   6/23/2020   EUR   51.400
Deutsche Bank AG      4.200   6/23/2020   EUR   49.400
Deutsche Bank AG      4.200   9/22/2020   EUR   48.100
DekaBank Deutsche G   3.100   7/17/2020   EUR   43.940
UBS AG/London         7.000   8/27/2020   CHF   67.300
UBS AG/London         7.000   03/01/2021  CHF   70.650
Raiffeisen Centroba   9.507   9/23/2020   EUR   66.430
Deutsche Bank AG      4.200  12/22/2020   EUR   46.580
UniCredit Bank AG     3.600   7/18/2021   EUR   26.440
Landesbank Baden-Wu   4.000   6/26/2020   EUR   51.570
Deutsche Bank AG      4.200   6/23/2020   EUR   63.600
Landesbank Hessen-T   3.500   7/21/2021   EUR   66.170
Vontobel Financial    4.300   9/25/2020   EUR   64.710
DekaBank Deutsche G   2.100   7/17/2020   EUR   59.610
Credit Suisse AG/Lo   6.000   8/27/2020   CHF   52.590
DekaBank Deutsche G   3.300   7/17/2020   EUR   63.740
DekaBank Deutsche G   2.600   7/19/2021   EUR   69.960
Deutsche Bank AG      4.200  12/22/2020   EUR   57.930
Deutsche Bank AG      4.200  12/22/2020   EUR   73.300
Deutsche Bank AG      4.200  12/22/2020   EUR   55.630
Deutsche Bank AG      4.200   9/22/2020   EUR   60.490
EFG International F   7.400   07/06/2020  CHF   56.240
Skandinaviska Enski   5.110   7/20/2022   SEK   63.440
Leonteq Securities   16.200   06/04/2020  EUR   40.020
Deutsche Bank AG      4.200   9/22/2020   EUR   52.300
Deutsche Bank AG      4.200   6/23/2020   EUR   69.200
Deutsche Bank AG      4.200  12/22/2020   EUR   66.550
Deutsche Bank AG      4.200  12/22/2020   EUR   48.900
Deutsche Bank AG      4.200   6/23/2020   EUR   68.900
Deutsche Bank AG      4.200  12/22/2020   EUR   70.300
Landesbank Baden-Wu   3.000   7/23/2021   EUR   66.280
Raiffeisen Schweiz    6.000   09/01/2020  CHF   37.360
Skandinaviska Enski   8.200   7/15/2022   SEK   42.910
Raiffeisen Schweiz    5.500   6/22/2020   CHF   49.440
Raiffeisen Schweiz    8.800   03/01/2021  EUR   37.660
DekaBank Deutsche G   5.000   7/31/2020   EUR   39.740
Bayerische Landesba   2.200   7/16/2021   EUR   59.490
Landesbank Baden-Wu   3.800   2/26/2021   EUR   30.160
Landesbank Baden-Wu   3.200   2/26/2021   EUR   47.860
Leonteq Securities    7.000   01/04/2021  CHF   51.590
DekaBank Deutsche G   3.550   01/05/2022  EUR   58.050
UniCredit Bank AG     3.500   01/05/2021  EUR   29.940
UniCredit Bank AG     3.500   01/05/2021  EUR   26.450
UniCredit Bank AG     3.500   01/05/2021  EUR   36.120
UniCredit Bank AG     3.650   7/26/2022   EUR   72.840
UniCredit Bank AG     5.000   7/23/2021   EUR   46.320
UniCredit Bank AG     3.900   7/26/2022   EUR   69.570
UniCredit Bank AG     3.650   7/23/2022   EUR   71.640
Bayerische Landesba   2.000   1/28/2022   EUR   65.950
Bayerische Landesba   2.450   7/31/2020   EUR   53.340
Zurcher Kantonalban   6.250   07/03/2020  CHF   69.800
Bank Julius Baer &    3.930   6/29/2020   EUR   58.850
UniCredit Bank AG     8.900  12/29/2020   EUR   43.510
UniCredit Bank AG     7.900  12/29/2020   EUR   61.800
UniCredit Bank AG     6.200  12/29/2020   EUR   67.700
UniCredit Bank AG     6.700  12/29/2020   EUR   66.160
UniCredit Bank AG     6.300  12/29/2020   EUR   65.020
UniCredit Bank AG     6.800  12/29/2020   EUR   34.870
UniCredit Bank AG     8.200  12/29/2020   EUR   73.710
UniCredit Bank AG     6.300  12/29/2020   EUR   70.870
UniCredit Bank AG     8.300  12/29/2020   EUR   44.040
UniCredit Bank AG    10.100  12/29/2020   EUR   30.960
UniCredit Bank AG     7.300  12/29/2020   EUR   73.580
UniCredit Bank AG     7.900  12/29/2020   EUR   40.080
UniCredit Bank AG     9.100  12/29/2020   EUR   38.540
UniCredit Bank AG     6.800  12/29/2020   EUR   30.290
UniCredit Bank AG     6.900  12/29/2020   EUR   51.760
UniCredit Bank AG     6.900  12/29/2020   EUR   55.180
UniCredit Bank AG    10.600  12/29/2020   EUR   37.220
UniCredit Bank AG    11.200  12/29/2020   EUR   36.560
UniCredit Bank AG     6.200  12/29/2020   EUR   57.170
UniCredit Bank AG     6.600  12/29/2020   EUR   60.920
UniCredit Bank AG     7.500  12/29/2020   EUR   50.600
UniCredit Bank AG     9.500  12/29/2020   EUR   71.110
UniCredit Bank AG    10.100  12/29/2020   EUR   42.070
UniCredit Bank AG     9.500  12/29/2020   EUR   49.350
UniCredit Bank AG     9.900  12/29/2020   EUR   68.720
UniCredit Bank AG    10.000  12/29/2020   EUR   50.530
UniCredit Bank AG     7.500  12/29/2020   EUR   70.590
UniCredit Bank AG     6.600  12/29/2020   EUR   71.890
UniCredit Bank AG     7.300  12/29/2020   EUR   61.280
UniCredit Bank AG     6.400  12/29/2020   EUR   56.380
UniCredit Bank AG     6.600  12/29/2020   EUR   52.770
UniCredit Bank AG     6.500  12/29/2020   EUR   40.390
UniCredit Bank AG     7.200  12/29/2020   EUR   18.270
UniCredit Bank AG     7.300  12/29/2020   EUR   39.190
UniCredit Bank AG     8.700  12/29/2020   EUR   40.400
UniCredit Bank AG     8.000  12/29/2020   EUR   41.460
UniCredit Bank AG     6.100  12/29/2020   EUR   69.760
UniCredit Bank AG     9.100  12/29/2020   EUR   34.110
UniCredit Bank AG     8.200  12/29/2020   EUR   62.860
UniCredit Bank AG     9.400  12/29/2020   EUR   69.480
UniCredit Bank AG     7.000  12/29/2020   EUR   40.460
UniCredit Bank AG     8.300  12/29/2020   EUR   38.870
UniCredit Bank AG    10.100  12/29/2020   EUR   68.020
UniCredit Bank AG     7.200  12/29/2020   EUR   57.940
UniCredit Bank AG     9.500  12/29/2020   EUR   59.200
UniCredit Bank AG     6.300  12/29/2020   EUR   72.340
UniCredit Bank AG     7.100  12/29/2020   EUR   69.950
UBS AG/London         6.250   6/29/2020   CHF   39.800
UBS AG/London         7.500   6/29/2020   EUR   40.600
UBS AG/London         6.000  12/28/2020   CHF   42.700
Vontobel Financial    4.200   7/20/2020   EUR   58.090
Zurcher Kantonalban   6.500   07/03/2020  CHF   21.630
Credit Suisse AG/Na   7.250   07/06/2020  CHF   64.920
Leonteq Securities    6.000   07/06/2020  CHF   62.880
UBS AG/London         6.000   07/12/2021  EUR   70.900
Leonteq Securities    6.000   07/06/2020  CHF   65.640
Vontobel Financial    5.250   6/29/2020   EUR   68.810
Raiffeisen Schweiz    5.000   01/06/2021  CHF   62.650
Raiffeisen Schweiz    5.200   01/06/2021  CHF   44.030
Raiffeisen Schweiz    5.000   07/06/2020  CHF   65.510
Raiffeisen Schweiz    4.000   01/06/2022  CHF   57.030
Landesbank Baden-Wu   2.500   8/25/2023   EUR   59.930
Raiffeisen Centroba   9.674  12/23/2020   EUR
Raiffeisen Centroba  12.438  12/23/2020   EUR
UBS AG/London         7.000   7/19/2021   CHF   53.050
UBS AG/London        11.750   1/18/2021   CHF   60.400
Bank Julius Baer &   10.300   7/20/2020   EUR   62.100
Raiffeisen Centroba   8.182  12/22/2021   EUR   66.210
Raiffeisen Centroba   8.292  12/23/2020   EUR   65.710
EFG International F  16.200   01/12/2021  CHF   44.870
Leonteq Securities   11.200  10/22/2020   USD   48.850
Bank Julius Baer &    8.000  10/19/2020   CHF   70.250
Raiffeisen Schweiz    7.080   7/22/2020   EUR   56.640
Leonteq Securities   20.000  10/19/2020   CHF   60.200
Leonteq Securities    6.000   7/19/2021   CHF   66.450
Leonteq Securities    8.000   7/19/2021   CHF   40.420
Leonteq Securities    7.200   1/19/2022   CHF   73.220
SG Issuer SA          4.000  10/22/2029   EUR   72.760
SG Issuer SA          4.000   7/20/2021   SEK   63.050
UniCredit Bank AG     5.000   7/24/2021   EUR   74.360
DekaBank Deutsche G   3.000   1/18/2021   EUR   51.340
DekaBank Deutsche G   2.650   1/18/2021   EUR   71.060
UBS AG/London         6.250   6/21/2021   CHF   44.650
UBS AG/London         5.000   6/22/2020   CHF   70.600
UBS AG/London         6.000   6/22/2020   EUR   55.800
UBS AG/London         7.000   6/22/2020   EUR   72.950
EFG International F   5.000   07/05/2021  CHF   69.190
Landesbank Hessen-T   5.650   7/20/2023   EUR   66.360
Raiffeisen Schweiz    5.900   6/29/2020   CHF   67.610
Raiffeisen Schweiz    5.000  12/29/2021   CHF   55.780
UniCredit Bank AG     6.700   7/27/2021   USD   60.750
Credit Suisse AG/Na   7.200   07/05/2021  CHF   48.090
UniCredit Bank AG     4.300   7/26/2022   EUR   56.370
UniCredit Bank AG     5.000   7/26/2021   EUR   58.610
UniCredit Bank AG     4.200   7/26/2022   EUR   31.750
UniCredit Bank AG     3.600   7/26/2021   EUR   69.290
UniCredit Bank AG     4.450   7/23/2022   EUR   59.730
UniCredit Bank AG     4.150   7/26/2022   EUR   52.840
DekaBank Deutsche G   2.000   7/30/2021   EUR   57.440
Bayerische Landesba   2.600   7/30/2021   EUR   67.600
DekaBank Deutsche G   3.000   7/23/2021   EUR   62.250
UniCredit Bank AG     8.000  12/29/2020   EUR   47.790
UniCredit Bank AG     7.300  12/29/2020   EUR   54.640
UniCredit Bank AG     8.000  12/29/2020   EUR   60.770
UniCredit Bank AG     7.400  12/29/2020   EUR   34.280
UniCredit Bank AG     7.000  12/29/2020   EUR   68.710
UniCredit Bank AG     6.700  12/29/2020   EUR   47.980
UniCredit Bank AG     9.100  12/29/2020   EUR   38.930
UniCredit Bank AG     8.300  12/29/2020   EUR   55.930
UniCredit Bank AG     6.800  12/29/2020   EUR   59.240
UniCredit Bank AG     6.000  12/29/2020   EUR   43.250
UniCredit Bank AG     8.400  12/29/2020   EUR   28.340
UniCredit Bank AG     9.200  12/29/2020   EUR   27.860
UniCredit Bank AG     6.700  12/29/2020   EUR   37.030
UniCredit Bank AG     8.500  12/29/2020   EUR   32.540
UniCredit Bank AG     6.500  12/29/2020   EUR   76.260
UniCredit Bank AG     6.800  12/29/2020   EUR   34.540
UniCredit Bank AG     7.400  12/29/2020   EUR   33.430
UniCredit Bank AG     6.100  12/29/2020   EUR   31.070
UniCredit Bank AG     6.000  12/29/2020   EUR   54.100
UniCredit Bank AG     6.600  12/29/2020   EUR   27.650
UniCredit Bank AG     9.300  12/29/2020   EUR   26.200
UniCredit Bank AG     9.400  12/29/2020   EUR   27.400
UniCredit Bank AG     7.200  12/29/2020   EUR   28.320
UniCredit Bank AG    14.800  12/29/2020   EUR   11.890
UniCredit Bank AG     6.500  12/29/2020   EUR   68.140
UniCredit Bank AG     9.300  12/29/2020   EUR   60.230
UniCredit Bank AG     8.300  12/29/2020   EUR   60.750
UniCredit Bank AG    10.000  12/29/2020   EUR   69.680
UniCredit Bank AG    11.900  12/29/2020   EUR   64.490
UniCredit Bank AG     9.900  12/29/2020   EUR   47.390
UniCredit Bank AG     9.000  12/29/2020   EUR   55.120
UniCredit Bank AG     6.900  12/29/2020   EUR   49.430
UniCredit Bank AG     7.800  12/29/2020   EUR   53.600
UniCredit Bank AG    10.700  12/29/2020   EUR   71.170
UniCredit Bank AG     8.200  12/29/2020   EUR   43.860
UniCredit Bank AG    10.800  12/29/2020   EUR   41.280
UniCredit Bank AG     6.300  12/29/2020   EUR   57.070
UniCredit Bank AG     8.700  12/29/2020   EUR   67.550
UniCredit Bank AG    10.500  12/29/2020   EUR   62.110
UniCredit Bank AG     7.400  12/29/2020   EUR   54.610
UniCredit Bank AG     6.700  12/29/2020   EUR   62.900
UniCredit Bank AG     8.200  12/29/2020   EUR   37.140
UniCredit Bank AG     7.800  12/29/2020   EUR   51.700
UniCredit Bank AG     8.800  12/29/2020   EUR   49.920
UniCredit Bank AG     8.200  12/29/2020   EUR   65.570
UniCredit Bank AG     6.600  12/29/2020   EUR   65.730
UniCredit Bank AG     7.500  12/29/2020   EUR   38.030
UniCredit Bank AG     6.700  12/29/2020   EUR   59.420
UniCredit Bank AG     8.200  12/29/2020   EUR   61.990
UniCredit Bank AG     8.400  12/29/2020   EUR   51.780
UniCredit Bank AG     9.500  12/29/2020   EUR   49.820
UniCredit Bank AG     9.400  12/29/2020   EUR   72.740
UniCredit Bank AG    12.100  12/29/2020   EUR   56.060
UniCredit Bank AG     7.800  12/29/2020   EUR   48.960
UniCredit Bank AG     6.400  12/29/2020   EUR   51.830
UniCredit Bank AG    10.900  12/29/2020   EUR   58.740
UniCredit Bank AG     7.800  12/29/2020   EUR   53.430
UniCredit Bank AG     8.100  12/29/2020   EUR   69.780
UniCredit Bank AG     8.100  12/29/2020   EUR   49.880
UniCredit Bank AG     6.900  12/29/2020   EUR   73.300
UniCredit Bank AG     6.500  12/29/2020   EUR   18.430
UniCredit Bank AG    10.700  12/29/2020   EUR   32.420
UniCredit Bank AG    10.900  12/29/2020   EUR   64.870
UniCredit Bank AG     9.700  12/29/2020   EUR   68.020
UniCredit Bank AG    12.000  12/29/2020   EUR   47.440
UniCredit Bank AG    10.100  12/29/2020   EUR   47.600
UniCredit Bank AG     7.200  12/29/2020   EUR   65.270
UniCredit Bank AG     9.000  12/29/2020   EUR   29.360
UniCredit Bank AG     8.000  12/29/2020   EUR   50.420
UniCredit Bank AG     7.900  12/29/2020   EUR   30.220
Landesbank Hessen-T   3.600   7/27/2022   EUR   63.060
UBS AG/London         7.000   6/22/2020   CHF   71.700
UBS AG/London         6.000   6/29/2020   CHF   49.450
Leonteq Securities   17.000   10/12/2020  CHF   60.420
Leonteq Securities    6.500   07/12/2021  CHF   69.040
Leonteq Securities    6.000   07/12/2021  CHF   71.770
Vontobel Financial    6.250   7/15/2020   EUR   59.630
Societe Generale Ef   7.650   6/26/2020   EUR   72.160
UniCredit Bank AG    10.800  12/28/2020   EUR   48.810
UniCredit Bank AG    10.200  12/28/2020   EUR   73.770
UniCredit Bank AG     9.300  12/28/2020   EUR   57.130
UniCredit Bank AG    11.500  12/28/2020   EUR   65.880
UniCredit Bank AG     7.250   8/16/2022   EUR   66.100
Raiffeisen Schweiz    7.100   01/12/2021  CHF   67.330
Raiffeisen Schweiz    5.000   01/12/2022  CHF   64.960
UniCredit Bank AG     4.100   6/25/2021   EUR   58.140
UniCredit Bank AG     8.400   6/26/2020   EUR   58.330
UniCredit Bank AG    14.500   6/26/2020   EUR   64.660
Vontobel Financial    7.000   6/26/2020   EUR   67.560
UniCredit Bank AG     5.400  12/24/2021   EUR   54.460
UniCredit Bank AG     6.300  12/24/2021   EUR   68.820
UniCredit Bank AG     8.200  12/24/2021   EUR   69.310
UniCredit Bank AG     4.800  12/24/2021   EUR   72.180
UniCredit Bank AG     4.700  12/24/2021   EUR   65.930
UniCredit Bank AG     7.500  12/24/2021   EUR   44.720
UniCredit Bank AG     7.900  12/24/2021   EUR   72.130
UniCredit Bank AG     7.600  12/24/2021   EUR   65.750
UniCredit Bank AG     4.100  12/24/2021   EUR   49.090
UniCredit Bank AG     7.700  12/24/2021   EUR   60.450
UniCredit Bank AG     5.800  12/24/2021   EUR   63.210
UniCredit Bank AG     8.600   6/26/2020   EUR   48.520
UniCredit Bank AG     5.500   6/26/2020   EUR   52.650
UniCredit Bank AG    14.400   6/26/2020   EUR   43.620
UniCredit Bank AG    12.600   6/26/2020   EUR   68.380
UniCredit Bank AG     5.300   6/26/2020   EUR   71.020
UniCredit Bank AG     6.100  12/24/2021   EUR   71.850
UniCredit Bank AG     5.300  12/24/2021   EUR   64.590
UniCredit Bank AG     8.300  12/24/2021   EUR   59.710
UniCredit Bank AG     6.900  12/24/2021   EUR   73.280
UniCredit Bank AG     9.600  12/24/2021   EUR   58.690
UniCredit Bank AG     5.600   6/25/2021   EUR   55.400
UniCredit Bank AG    11.600  12/24/2021   EUR   62.570
UniCredit Bank AG     6.000   6/25/2021   EUR   52.590
UniCredit Bank AG     7.500   6/25/2021   EUR   51.000
UniCredit Bank AG     7.000   6/25/2021   EUR   67.880
UniCredit Bank AG    11.100   6/25/2021   EUR   72.230
UniCredit Bank AG    12.100  12/28/2020   EUR   48.040
UniCredit Bank AG    11.600  12/28/2020   EUR   61.380
UniCredit Bank AG     7.500  12/28/2020   EUR   68.780
UniCredit Bank AG     5.100   6/25/2021   EUR   64.850
UniCredit Bank AG     8.200   6/25/2021   EUR   59.290
UniCredit Bank AG    11.400   6/25/2021   EUR   56.000
UniCredit Bank AG     7.900   6/25/2021   EUR   65.260
UniCredit Bank AG     9.000   6/25/2021   EUR   63.980
UniCredit Bank AG     6.800   6/25/2021   EUR   66.630
UniCredit Bank AG     8.500   6/25/2021   EUR   64.640
UniCredit Bank AG    13.600   6/25/2021   EUR   59.950
UniCredit Bank AG    10.100   6/25/2021   EUR   41.980
UniCredit Bank AG     4.400   6/25/2021   EUR   47.610
UniCredit Bank AG     5.400   6/25/2021   EUR   45.700
UniCredit Bank AG     7.600   6/25/2021   EUR   43.140
UniCredit Bank AG     8.900  12/24/2021   EUR   51.710
UniCredit Bank AG     4.400  12/24/2021   EUR   56.410
UniCredit Bank AG     7.400  12/24/2021   EUR   66.620
UniCredit Bank AG     6.500   6/25/2021   EUR   69.950
UniCredit Bank AG     7.000   6/26/2020   EUR   50.490
UniCredit Bank AG    14.500   6/26/2020   EUR   68.970
UniCredit Bank AG     7.200   6/26/2020   EUR   48.100
UniCredit Bank AG    15.600   6/26/2020   EUR   67.350
UniCredit Bank AG    10.500   6/26/2020   EUR   36.430
UniCredit Bank AG    10.000   6/26/2020   EUR   55.820
UniCredit Bank AG     7.700  12/24/2021   EUR   54.250
UniCredit Bank AG    19.000   6/26/2020   EUR   46.270
UniCredit Bank AG     7.900   6/25/2021   EUR   68.010
UniCredit Bank AG     6.400  12/24/2021   EUR   55.380
DekaBank Deutsche G   3.000   7/31/2020   EUR   46.920
Landesbank Baden-Wu   3.000   6/25/2021   EUR   64.480
Landesbank Baden-Wu   4.000   7/24/2020   EUR   54.510
Landesbank Baden-Wu   2.000   7/24/2020   EUR   61.270
Landesbank Baden-Wu   4.000   7/24/2020   EUR   55.000
Landesbank Baden-Wu   5.000   7/24/2020   EUR   52.750
Landesbank Baden-Wu   5.000   7/24/2020   EUR   33.880
Landesbank Baden-Wu   5.000   7/24/2020   EUR   70.900
Landesbank Baden-Wu   4.500   7/24/2020   EUR   68.080
Landesbank Baden-Wu   2.000   7/24/2020   EUR   65.300
Landesbank Baden-Wu   3.500   7/24/2020   EUR   55.360
Landesbank Baden-Wu   5.000   7/24/2020   EUR   49.470
Landesbank Baden-Wu   6.500   7/24/2020   EUR   44.800
Landesbank Baden-Wu   2.000   7/24/2020   EUR   54.690
Landesbank Baden-Wu   3.000   7/24/2020   EUR   50.620
Landesbank Baden-Wu   4.000   7/24/2020   EUR   47.880
Landesbank Baden-Wu   2.000   7/24/2020   EUR   56.840
Landesbank Baden-Wu   5.000   7/24/2020   EUR   46.980
Landesbank Baden-Wu   2.000   7/24/2020   EUR   70.810
Landesbank Baden-Wu   3.000   7/24/2020   EUR   66.070
Landesbank Baden-Wu   4.000   7/24/2020   EUR   62.800
Landesbank Baden-Wu   5.000   7/24/2020   EUR   59.920
Landesbank Baden-Wu   4.000   7/24/2020   EUR   69.300
Landesbank Baden-Wu   5.000   7/24/2020   EUR   65.800
Landesbank Baden-Wu   2.000   7/24/2020   EUR   41.080
Landesbank Baden-Wu   6.500   7/24/2020   EUR   44.510
Landesbank Baden-Wu   3.000   7/24/2020   EUR   70.980
Landesbank Baden-Wu   4.000   7/24/2020   EUR   66.780
Landesbank Baden-Wu   5.000   7/24/2020   EUR   28.650
Landesbank Baden-Wu   2.000   7/24/2020   EUR   60.610
Landesbank Baden-Wu   2.500   7/24/2020   EUR   18.900
Landesbank Baden-Wu   4.000   7/24/2020   EUR   17.040
Landesbank Baden-Wu   4.500   7/24/2020   EUR   37.260
Landesbank Baden-Wu   2.000   7/24/2020   EUR   60.830
Landesbank Baden-Wu   2.000   7/24/2020   EUR   67.470
Landesbank Baden-Wu   4.000   7/24/2020   EUR   58.150
Landesbank Baden-Wu   4.500   7/24/2020   EUR   73.290
Landesbank Baden-Wu   6.000   7/24/2020   EUR   67.650
Landesbank Hessen-T   6.150   8/25/2022   EUR   64.880
Landesbank Baden-Wu   2.850   8/28/2020   EUR   62.180
Landesbank Baden-Wu   3.500   8/28/2020   EUR   62.190
Landesbank Baden-Wu   3.250   8/28/2020   EUR   62.050
Landesbank Baden-Wu   4.450   8/28/2020   EUR   27.990
Corner Banca SA       8.000   08/10/2020  CHF   54.000
Bayerische Landesba   2.100   8/28/2020   EUR   68.560
Bayerische Landesba   2.300   8/28/2020   EUR   69.720
Bayerische Landesba   2.500   8/28/2020   EUR   65.700
UniCredit Bank AG     3.750   8/23/2021   EUR   39.830
Landesbank Hessen-T   3.500   09/01/2021  EUR   65.840
Leonteq Securities    5.200   08/04/2020  EUR   65.040
Landesbank Baden-Wu   2.850   7/22/2022   EUR   65.060
Societe Generale Ef   3.825   6/26/2020   EUR   70.680
Societe Generale Ef  10.241  12/28/2020   EUR   68.870
Societe Generale Ef  24.419   6/25/2021   EUR   54.630
UniCredit Bank AG     6.900  12/24/2021   EUR   68.750
UniCredit Bank AG     9.000  12/24/2021   EUR   64.580
UniCredit Bank AG     5.800  12/24/2021   EUR   70.460
UniCredit Bank AG     8.000  12/24/2021   EUR   67.840
UniCredit Bank AG    10.200  12/24/2021   EUR   65.930
UniCredit Bank AG     7.100  12/24/2021   EUR   61.300
UniCredit Bank AG     7.200  12/24/2021   EUR   66.270
UniCredit Bank AG     6.300  12/24/2021   EUR   67.260
UniCredit Bank AG     8.500  12/24/2021   EUR   64.880
UniCredit Bank AG     8.100  12/24/2021   EUR   65.390
UniCredit Bank AG     8.200   6/25/2021   EUR   52.690
UniCredit Bank AG    10.900   6/25/2021   EUR   72.630
UniCredit Bank AG    11.100  12/28/2020   EUR   72.930
UniCredit Bank AG     6.200  12/28/2020   EUR   69.190
UniCredit Bank AG     9.800   6/25/2021   EUR   57.420
UniCredit Bank AG     7.400   6/25/2021   EUR   60.430
UniCredit Bank AG    10.200   6/25/2021   EUR   62.860
UniCredit Bank AG    10.700   6/25/2021   EUR   62.230
UniCredit Bank AG    12.500   6/25/2021   EUR   60.850
UniCredit Bank AG     7.000   6/25/2021   EUR   70.140
UniCredit Bank AG    13.400   6/26/2020   EUR   51.480
UniCredit Bank AG    16.600   6/26/2020   EUR   42.250
UniCredit Bank AG    10.400   6/26/2020   EUR   46.740
UniCredit Bank AG    10.800   6/26/2020   EUR   71.160
UniCredit Bank AG     8.400  12/24/2021   EUR   53.910
UniCredit Bank AG    13.300   6/26/2020   EUR   34.540
UniCredit Bank AG     9.200   6/25/2021   EUR   66.160
UniCredit Bank AG     8.400   6/25/2021   EUR   68.430
UniCredit Bank AG    18.400   6/26/2020   EUR   71.190
UniCredit Bank AG    11.600   6/26/2020   EUR   71.720
UniCredit Bank AG     4.800   6/26/2020   EUR   51.890
UniCredit Bank AG    14.000   6/26/2020   EUR   55.370
UniCredit Bank AG    14.800   6/26/2020   EUR   65.950
UniCredit Bank AG    16.100   6/26/2020   EUR   59.630
UniCredit Bank AG    15.400   6/26/2020   EUR   58.820
UniCredit Bank AG    12.100   6/25/2021   EUR   63.440
DZ Bank AG Deutsche  12.250   7/22/2020   EUR   44.530
Raiffeisen Centroba   6.992   6/23/2020   EUR   70.010
Raiffeisen Centroba   7.757   6/23/2020   EUR   52.150
EFG International F   6.800   9/14/2020   CHF   51.400
DekaBank Deutsche G   7.250   04/01/2021  EUR   51.940
UBS AG/London        10.000   8/31/2020   CHF   36.050
UBS AG/London         9.000   8/31/2020   CHF   57.800
UBS AG/London         7.000   8/31/2020   EUR   47.850
Leonteq Securities    8.000   09/07/2020  EUR   56.060
Corner Banca SA       6.400   09/07/2021  CHF   53.790
EFG International F   7.200   9/13/2021   CHF   66.450
Raiffeisen Switzerl   4.440   4/19/2021   EUR   47.730
DekaBank Deutsche G   2.300   9/24/2021   EUR   49.330
Vontobel Financial    3.300   09/04/2020  EUR   68.850
Landesbank Baden-Wu   2.800   7/24/2020   EUR   58.480
UniCredit Bank AG     3.700   5/28/2021   EUR   52.210
Skandinaviska Enski   6.900   7/15/2022   SEK   44.420
Leonteq Securities    7.400   11/03/2020  CHF   55.650
EFG International F   7.000   11/09/2020  EUR   61.340
Commerzbank AG        1.000   11/02/2020  USD    6.480
Landesbank Hessen-T   3.000   06/04/2021  EUR   49.900
Landesbank Hessen-T   4.000   06/04/2021  EUR   52.200
DekaBank Deutsche G   3.000   6/26/2020   EUR   54.470
Landesbank Baden-Wu   3.000  12/29/2020   EUR   48.920
Landesbank Hessen-T   5.200   01/08/2024  EUR   33.960
UniCredit Bank AG     4.200  11/21/2021   EUR   48.150
UniCredit Bank AG     3.700  11/21/2021   EUR   56.530
UniCredit Bank AG     4.350  11/21/2021   EUR   53.110
Landesbank Hessen-T   3.000  11/24/2022   EUR   68.320
Landesbank Hessen-T   5.000   9/21/2023   EUR   42.140
EFG International F   7.000   11/02/2020  CHF   50.000
EFG International F   7.200   11/02/2020  EUR   36.830
Landesbank Baden-Wu   2.650   9/22/2023   EUR   63.030
Raiffeisen Centroba   6.000   10/09/2020  EUR   61.380
Raiffeisen Centroba   5.500   10/09/2020  EUR   34.430
Raiffeisen Centroba   7.000   10/09/2020  EUR   57.650
Raiffeisen Centroba   6.500   10/09/2020  EUR   53.290
Raiffeisen Centroba   7.000   10/09/2020  EUR   70.890
Zurcher Kantonalban   5.500   11/03/2020  CHF   55.420
Landesbank Hessen-T   2.200  11/24/2020   EUR   27.420
Bayerische Landesba   2.100   10/09/2020  EUR   59.240
UBS AG/London         9.000   8/24/2020   EUR   44.100
UBS AG/London        10.000   8/24/2020   CHF   35.950
Landesbank Baden-Wu   2.550  12/27/2021   EUR   66.670
UBS AG/London         7.250   8/31/2020   CHF   25.900
UBS AG/London         6.250   8/31/2020   CHF   64.400
UBS AG/London         8.000   03/01/2021  USD   49.120
UniCredit Bank AG     4.850   11/01/2020  EUR   67.030
Leonteq Securities    6.000   09/07/2020  CHF   42.200
Landesbank Baden-Wu   3.000  12/29/2020   EUR   57.160
Raiffeisen Schweiz    6.200   09/10/2020  EUR   60.590
DekaBank Deutsche G   2.300  11/13/2020   EUR   49.480
Leonteq Securities    7.000  10/26/2020   EUR   51.570
Leonteq Securities    6.000   8/31/2020   CHF   68.850
Leonteq Securities    5.000  10/27/2020   CHF   50.670
DekaBank Deutsche G   3.400   3/26/2021   EUR   60.820
Landesbank Hessen-T   4.000  11/24/2021   EUR   36.120
UBS AG/London        10.500   8/31/2020   EUR   32.800
Landesbank Hessen-T   5.450  11/17/2022   EUR   42.380
Landesbank Hessen-T   8.600  11/17/2022   EUR   45.560
UniCredit Bank AG     3.800   8/30/2023   EUR   43.910
Landesbank Baden-Wu   3.500  12/29/2020   EUR   66.240
Landesbank Baden-Wu   3.600  12/29/2020   EUR   47.460
Landesbank Baden-Wu   4.400  12/29/2020   EUR   30.900
Vontobel Financial    3.800   8/31/2021   EUR   70.830
Societe Generale Ef   8.438   9/25/2020   EUR   65.770
Societe Generale Ef  29.303   6/25/2021   EUR   59.100
Raiffeisen Schweiz    6.000   8/19/2020   CHF   49.740
UniCredit Bank AG     6.400   03/05/2021  EUR   26.880
Leonteq Securities    7.000   02/12/2021  CHF   49.600
Landesbank Baden-Wu   2.600   4/25/2022   EUR   62.620
Landesbank Hessen-T   5.550   3/16/2023   EUR   35.930
Societe Generale Ef   8.263   7/24/2020   EUR   70.390
Societe Generale Ef  11.721   6/25/2021   EUR   68.540
Leonteq Securities    9.000   10/12/2020  CHF   60.830
Leonteq Securities    5.600   07/12/2022  CHF   71.960
Leonteq Securities   16.800  10/15/2020   USD   41.760
Leonteq Securities    8.600   07/12/2021  EUR   49.040
Societe Generale Ef   4.822   9/25/2020   EUR   58.020
Societe Generale Ef  18.082   9/25/2020   EUR   45.120
Societe Generale Ef  14.630  12/28/2020   EUR   69.950
UniCredit Bank AG     7.900  12/28/2020   EUR   66.240
UniCredit Bank AG     7.200  12/28/2020   EUR   60.350
UniCredit Bank AG     8.300  12/28/2020   EUR   67.810
UniCredit Bank AG    16.200  12/28/2020   EUR   58.710
Raiffeisen Schweiz    7.100   07/12/2021  EUR   59.370
UniCredit Bank AG    17.000  12/28/2020   EUR   57.970
UniCredit Bank AG    12.300   6/26/2020   EUR   62.450
UniCredit Bank AG    16.200   6/26/2020   EUR   32.880
UniCredit Bank AG     5.600   6/26/2020   EUR   64.180
UniCredit Bank AG     8.700   6/26/2020   EUR   67.340
UniCredit Bank AG     9.100  12/24/2021   EUR   66.790
UniCredit Bank AG     8.900  12/24/2021   EUR   59.080
UniCredit Bank AG     6.800  12/24/2021   EUR   66.840
UniCredit Bank AG    10.200  12/28/2020   EUR   39.010
UniCredit Bank AG     8.200  12/28/2020   EUR   58.630
UniCredit Bank AG    13.100   6/26/2020   EUR   70.320
UniCredit Bank AG    10.300   6/26/2020   EUR   73.200
UniCredit Bank AG    16.000   6/26/2020   EUR   67.700
UniCredit Bank AG    13.600   6/26/2020   EUR   69.760
UniCredit Bank AG    17.000   6/26/2020   EUR   63.700
UniCredit Bank AG     6.500  12/24/2021   EUR   62.270
UniCredit Bank AG     6.600  12/24/2021   EUR   45.310
UniCredit Bank AG     7.300   6/25/2021   EUR   53.430
UniCredit Bank AG     6.400   6/25/2021   EUR   54.290
UniCredit Bank AG     4.800   6/25/2021   EUR   56.640
UniCredit Bank AG    10.000   6/25/2021   EUR   51.550
UniCredit Bank AG     9.100   6/25/2021   EUR   52.070
UniCredit Bank AG    11.600   6/25/2021   EUR   61.360
UniCredit Bank AG    10.000   6/25/2021   EUR   73.620
UniCredit Bank AG     5.600   6/25/2021   EUR   71.010
UniCredit Bank AG     4.700   6/25/2021   EUR   54.870
UniCredit Bank AG     8.500   6/25/2021   EUR   65.250
UniCredit Bank AG    10.000   6/25/2021   EUR   63.040
UniCredit Bank AG    10.100   6/25/2021   EUR   73.150
UniCredit Bank AG     6.200  12/28/2020   EUR   62.230
UniCredit Bank AG     5.900   6/25/2021   EUR   63.270
UniCredit Bank AG     6.600   6/25/2021   EUR   61.720
UniCredit Bank AG     9.000   6/25/2021   EUR   58.290
UniCredit Bank AG     7.400   6/25/2021   EUR   66.010
UniCredit Bank AG     9.600   6/25/2021   EUR   63.380
UniCredit Bank AG    11.300   6/25/2021   EUR   61.750
UniCredit Bank AG    11.900   6/25/2021   EUR   61.280
Credit Suisse AG/Lo   4.500   07/12/2021  EUR   63.520
DZ Bank AG Deutsche   6.000   7/22/2020   EUR   36.610
DZ Bank AG Deutsche  10.500   9/23/2020   EUR   61.350
DZ Bank AG Deutsche   9.000   9/23/2020   EUR   74.330
Raiffeisen Centroba   9.674  12/23/2020   EUR
Raiffeisen Centroba  12.438  12/23/2020   EUR
UBS AG/London        14.250   7/19/2021   USD   52.440
UBS AG/London         5.250   7/19/2021   CHF   64.400
UBS AG/London        15.000   7/17/2020   CHF   52.850
UBS AG/London        13.250   7/17/2020   USD   51.290
Zurcher Kantonalban   7.750   7/23/2021   EUR   63.130
Zurcher Kantonalban   7.500   7/23/2021   CHF   62.900
Societe Generale Ef  12.500   7/24/2020   EUR   65.380
DZ Bank AG Deutsche   7.000   7/22/2020   EUR   70.040
DZ Bank AG Deutsche  10.750   7/22/2020   EUR   65.620
DZ Bank AG Deutsche   9.750   6/24/2020   EUR   69.310
DZ Bank AG Deutsche   8.000   9/23/2020   EUR   70.290
DZ Bank AG Deutsche   7.750   6/24/2020   EUR   66.200
UniCredit Bank AG     9.800   6/25/2021   EUR   66.970
UniCredit Bank AG     5.200   6/25/2021   EUR   72.150
UniCredit Bank AG    11.700   6/26/2020   EUR   72.370
UniCredit Bank AG     6.900   6/26/2020   EUR   61.100
UniCredit Bank AG    15.700   6/26/2020   EUR   62.710
UniCredit Bank AG     5.100  12/24/2021   EUR   56.960
UniCredit Bank AG     5.700  12/24/2021   EUR   56.030
UniCredit Bank AG    12.300   6/26/2020   EUR   45.100
UniCredit Bank AG     6.900   6/26/2020   EUR   71.460
UniCredit Bank AG    14.700   6/26/2020   EUR   61.780
UniCredit Bank AG    10.700   6/25/2021   EUR   64.740
UniCredit Bank AG     7.000  12/24/2021   EUR   54.690
Credit Suisse AG/Lo   5.750   01/10/2022  CHF   68.470
Zurcher Kantonalban   7.250   7/23/2021   USD   59.690
Zurcher Kantonalban   5.000   7/23/2021   EUR   55.370
Bank Julius Baer &   11.800   7/16/2020   USD   53.300
DZ Bank AG Deutsche   6.500   7/22/2020   EUR   62.590
DZ Bank AG Deutsche  13.000   7/22/2020   EUR   57.220
DZ Bank AG Deutsche   7.250   9/23/2020   EUR   67.610
Landesbank Hessen-T   6.400   03/09/2023  EUR   64.440
UniCredit Bank AG     5.350   03/05/2021  EUR   72.270
UniCredit Bank AG     3.750   03/05/2021  EUR   61.190
Landesbank Baden-Wu   2.810   3/24/2023   EUR   56.880
Leonteq Securities    4.230   07/12/2021  CHF   64.620
EFG International F  18.400   01/12/2021  USD   45.980
Societe Generale Ef   9.644   9/25/2020   EUR   73.590
Societe Generale Ef   8.778  12/28/2020   EUR   73.230
Societe Generale Ef  17.582   6/25/2021   EUR   71.300
UniCredit Bank AG     4.700  12/28/2020   EUR   72.460
UniCredit Bank AG    13.600  12/28/2020   EUR   59.490
UniCredit Bank AG     5.300  12/28/2020   EUR   64.340
UniCredit Bank AG    11.500  12/28/2020   EUR   54.550
UniCredit Bank AG    15.400  12/28/2020   EUR   59.480
UniCredit Bank AG    10.400  12/28/2020   EUR   55.770
UniCredit Bank AG    13.900  12/28/2020   EUR   52.560
UniCredit Bank AG     7.100   6/26/2020   EUR   69.940
UniCredit Bank AG    18.800   6/26/2020   EUR   55.670
UniCredit Bank AG     9.400   6/26/2020   EUR   66.620
UniCredit Bank AG    11.600   6/26/2020   EUR   53.540
UniCredit Bank AG     4.300   6/26/2020   EUR   74.380
UniCredit Bank AG     4.300   6/26/2020   EUR   44.220
UniCredit Bank AG    15.200   6/26/2020   EUR   49.590
UniCredit Bank AG    19.800   6/26/2020   EUR   57.520
UniCredit Bank AG     9.700   6/26/2020   EUR   73.520
Vontobel Financial    9.000   6/26/2020   EUR   66.460
Landesbank Baden-Wu   3.950   8/27/2021   EUR   54.550
Leonteq Securities    7.400   05/12/2021  CHF   58.620
Corner Banca SA       6.200   11/09/2021  CHF   72.970
Landesbank Baden-Wu   3.400  11/25/2022   EUR   56.330
Landesbank Baden-Wu   3.400   1/27/2023   EUR   60.100
UniCredit Bank AG     3.750  12/21/2021   EUR   43.960
UBS AG/London         7.000  11/16/2020   CHF   69.850
UBS AG/London         8.000  11/16/2020   CHF   29.400
UBS AG/London         7.000  10/30/2020   EUR   41.650
Raiffeisen Centroba   5.800  11/19/2020   EUR   61.530
Raiffeisen Centroba   4.500  11/19/2020   EUR   46.800
Zurcher Kantonalban   6.117  11/20/2020   CHF   64.690
DekaBank Deutsche G   3.800   12/04/2020  EUR   66.300
Raiffeisen Schweiz    7.000  11/30/2020   CHF   66.190
Skandinaviska Enski   8.200   1/15/2024   SEK   50.520
Banque Cantonale Va   6.500   06/05/2020  CHF   56.780
Landesbank Baden-Wu   2.000   7/24/2020   EUR   64.940
Landesbank Baden-Wu   3.500   7/24/2020   EUR   59.760
Landesbank Baden-Wu   5.000   7/24/2020   EUR   56.490
Landesbank Baden-Wu   2.000   7/24/2020   EUR   52.630
Landesbank Baden-Wu   3.500   7/24/2020   EUR   46.920
Landesbank Baden-Wu   5.000   7/24/2020   EUR   43.120
Landesbank Baden-Wu   2.500   7/24/2020   EUR   55.840
Landesbank Baden-Wu   5.000   7/24/2020   EUR   47.440
Landesbank Baden-Wu   6.000   7/24/2020   EUR   74.470
Landesbank Baden-Wu   2.500   7/24/2020   EUR   66.310
Landesbank Baden-Wu   4.000   7/24/2020   EUR   59.360
Landesbank Baden-Wu   5.500   7/24/2020   EUR   55.570
Landesbank Baden-Wu   3.500   7/24/2020   EUR   70.570
Landesbank Baden-Wu   3.000   7/24/2020   EUR   61.580
Landesbank Baden-Wu   4.500   7/24/2020   EUR   54.730
Landesbank Baden-Wu   6.000   7/24/2020   EUR   51.080
Landesbank Baden-Wu   2.000   7/24/2020   EUR   67.090
Landesbank Baden-Wu   3.500   7/24/2020   EUR   61.320
Landesbank Baden-Wu   2.000   7/24/2020   EUR   53.090
Landesbank Baden-Wu   4.000   7/24/2020   EUR   45.570
Landesbank Baden-Wu   5.500   7/24/2020   EUR   42.680
Landesbank Baden-Wu   5.500   7/24/2020   EUR   72.500
Landesbank Baden-Wu   3.500   7/24/2020   EUR   74.370
Landesbank Baden-Wu   5.000   7/24/2020   EUR   69.680
Landesbank Baden-Wu   2.000   7/24/2020   EUR   59.910
Landesbank Baden-Wu   3.500   7/24/2020   EUR   53.690
Landesbank Baden-Wu   5.000   7/24/2020   EUR   49.590
Landesbank Baden-Wu   3.500   7/24/2020   EUR   65.170
Landesbank Baden-Wu   5.000   7/24/2020   EUR   62.000
Landesbank Baden-Wu   4.000   7/24/2020   EUR   71.030
Landesbank Baden-Wu   3.000   7/24/2020   EUR   55.880
Landesbank Baden-Wu   5.500   7/24/2020   EUR   47.240
Landesbank Baden-Wu   3.000   7/24/2020   EUR   58.640
Landesbank Baden-Wu   5.500   7/24/2020   EUR   72.920
Landesbank Baden-Wu   2.000   7/24/2020   EUR   71.490
Landesbank Baden-Wu   4.000   7/24/2020   EUR   63.080
Landesbank Baden-Wu   2.000   7/24/2020   EUR   52.600
Landesbank Baden-Wu   3.500   7/24/2020   EUR   45.690
Landesbank Baden-Wu   5.000   7/24/2020   EUR   41.350
Landesbank Baden-Wu   2.500   7/24/2020   EUR   42.130
Landesbank Baden-Wu   5.000   7/24/2020   EUR   35.280
Landesbank Baden-Wu   7.000   7/24/2020   EUR   32.590
Landesbank Baden-Wu   6.000   7/24/2020   EUR   73.400
Landesbank Baden-Wu   8.000   7/24/2020   EUR   67.420
Landesbank Baden-Wu   2.000   7/24/2020   EUR   67.790
Landesbank Baden-Wu   3.000   7/24/2020   EUR   63.870
Landesbank Baden-Wu   4.500   7/24/2020   EUR   59.380
UBS AG/London         7.100   9/24/2020   EUR   46.120
UBS AG/London         7.100   9/24/2020   EUR   47.830
UBS AG/London         7.400   6/25/2020   EUR   50.420
HSBC Trinkaus & Bur   2.800   6/26/2020   EUR   62.320
HSBC Trinkaus & Bur   3.000   6/26/2020   EUR   56.860
Landesbank Baden-Wu   3.500  10/23/2020   EUR   57.030
Landesbank Baden-Wu   6.000  10/23/2020   EUR   49.100
Landesbank Baden-Wu   5.000  10/23/2020   EUR   71.020
Landesbank Baden-Wu   5.500  10/23/2020   EUR   71.930
Landesbank Baden-Wu   4.000  10/23/2020   EUR   65.920
Landesbank Baden-Wu   3.000  10/23/2020   EUR   52.990
Landesbank Baden-Wu   5.000  10/23/2020   EUR   45.890
Landesbank Baden-Wu   4.500  10/23/2020   EUR   65.410
Landesbank Baden-Wu   2.500  10/23/2020   EUR   65.500
Landesbank Baden-Wu   3.000  10/23/2020   EUR   45.840
Landesbank Baden-Wu   2.500  10/23/2020   EUR   37.620
Landesbank Baden-Wu   3.000   7/23/2021   EUR   63.960
Landesbank Baden-Wu   5.000   7/23/2021   EUR   58.510
Landesbank Baden-Wu   4.000  10/23/2020   EUR   55.780
Landesbank Baden-Wu   3.000  10/23/2020   EUR   39.730
Landesbank Baden-Wu   5.000  10/23/2020   EUR   62.990
Landesbank Baden-Wu   3.000   7/23/2021   EUR   45.270
EFG International F   7.000   11/01/2021  CHF   63.650
UBS AG/London         9.000  10/19/2020   USD   58.200
UniCredit Bank AG     4.100  11/27/2020   EUR   68.590
Landesbank Baden-Wu   3.250   1/28/2022   EUR   70.940
Landesbank Baden-Wu   3.800   1/28/2022   EUR   51.070
Landesbank Baden-Wu   3.600   1/28/2022   EUR   73.020
Raiffeisen Switzerl   5.600   11/02/2020  CHF   29.290
Corner Banca SA       8.000   11/02/2020  CHF   51.290
Raiffeisen Schweiz    7.000   11/02/2020  CHF   66.340
HSBC Trinkaus & Bur   5.100   6/26/2020   EUR   68.200
HSBC Trinkaus & Bur   3.000   6/26/2020   EUR   68.060
HSBC Trinkaus & Bur   4.100   6/26/2020   EUR   54.760
HSBC Trinkaus & Bur   8.200   6/26/2020   EUR   39.300
HSBC Trinkaus & Bur   5.100   6/26/2020   EUR   71.140
HSBC Trinkaus & Bur   6.500   6/26/2020   EUR   50.530
HSBC Trinkaus & Bur   6.500   6/26/2020   EUR   50.530
Landesbank Baden-Wu   3.000   6/24/2022   EUR   61.750
Landesbank Baden-Wu   3.050   7/24/2020   EUR   57.540
Landesbank Baden-Wu   3.100   7/24/2020   EUR   53.100
Landesbank Baden-Wu   3.300   7/24/2020   EUR   58.740
Bayerische Landesba   2.600   6/26/2020   EUR   60.460
Leonteq Securities    7.800   06/02/2020  EUR   39.330
Landesbank Baden-Wu   2.700   6/25/2021   EUR   67.330
Landesbank Hessen-T   5.200   9/30/2022   EUR   62.020
Leonteq Securities    6.200   06/08/2020  CHF   57.250
Leonteq Securities    6.000   06/08/2020  CHF   54.850
UniCredit Bank AG     5.750   07/04/2020  EUR   53.730
Erste Group Bank AG   6.000   6/28/2022   EUR   77.550
DekaBank Deutsche G   2.750   6/26/2020   EUR   51.260
DekaBank Deutsche G   2.150   6/28/2021   EUR   57.010
DekaBank Deutsche G   2.200   6/26/2020   EUR   60.450
Leonteq Securities    5.200   06/12/2020  CHF   50.370
Commerzbank AG        6.000   06/06/2022  USD    0.370
Landesbank Hessen-T   4.000   07/07/2021  EUR   63.180
Landesbank Hessen-T   4.000   07/07/2021  EUR   64.690
Bayerische Landesba   2.200   6/26/2020   EUR   62.910
Landesbank Baden-Wu   3.500   6/26/2020   EUR   56.620
UniCredit Bank AG     3.500   07/09/2021  EUR   64.360
UniCredit Bank AG     5.500   07/09/2021  EUR   32.950
Corner Banca SA       7.600   6/16/2020   CHF   53.630
EFG International F   7.000   6/22/2020   USD   44.550
DekaBank Deutsche G   3.000   6/21/2021   EUR   32.970
Landesbank Hessen-T   3.750   1/13/2021   EUR   70.800
Landesbank Hessen-T   3.350   1/13/2021   EUR   68.100
Landesbank Hessen-T   4.000   1/13/2021   EUR   48.600
Landesbank Hessen-T   2.750   1/13/2021   EUR   52.000
Citigroup Global Ma   7.000   6/16/2022   SEK   51.090
Landesbank Baden-Wu   3.330   6/25/2021   EUR   65.100
Leonteq Securities    7.000   6/16/2020   CHF   54.460
Landesbank Baden-Wu   2.400   7/24/2020   EUR   67.800
Bayerische Landesba   2.400   7/17/2020   EUR   61.850
Landesbank Hessen-T   6.800   7/14/2022   EUR   53.550
Getin Noble Bank SA   5.190   5/31/2024   PLN   71.000
Getin Noble Bank SA   5.790   6/28/2024   PLN   71.000
Landesbank Baden-Wu   3.100   7/24/2020   EUR   57.530
Landesbank Baden-Wu   3.200   7/24/2020   EUR   51.250
Landesbank Baden-Wu   3.400   7/24/2020   EUR   59.170
Landesbank Baden-Wu   4.000   7/24/2020   EUR   52.260
Bayerische Landesba   2.100   7/17/2020   EUR   67.320
Leonteq Securities    6.000   6/23/2020   CHF   50.550
UniCredit Bank AG     4.300   7/18/2021   EUR   51.240
Landesbank Hessen-T   4.000  10/13/2021   EUR   70.580
DekaBank Deutsche G   2.100   10/09/2020  EUR   56.650
DekaBank Deutsche G   2.200   10/09/2020  EUR   51.700
DekaBank Deutsche G   2.600   10/09/2020  EUR   62.190
DekaBank Deutsche G   2.900   10/09/2020  EUR   39.430
Commerzbank AG        1.580   9/16/2024   USD    0.630
EFG International F   7.200   9/28/2020   CHF   52.540
EFG International F   6.600   9/28/2020   EUR   58.790
Leonteq Securities    7.000   9/22/2020   CHF   53.620
DekaBank Deutsche G   2.000   10/09/2020  EUR   54.430
Landesbank Baden-Wu   4.000   6/26/2020   EUR   54.110
Landesbank Baden-Wu   2.150   6/26/2020   EUR   67.830
UniCredit Bank AG     5.400  10/30/2020   EUR   29.120
Landesbank Baden-Wu   2.000  10/22/2021   EUR   66.700
Landesbank Baden-Wu   2.000  11/26/2021   EUR   63.900
Landesbank Baden-Wu   2.000  11/26/2021   EUR   65.110
Landesbank Hessen-T   3.000  10/20/2022   EUR   72.410
Landesbank Hessen-T   7.000  10/20/2022   EUR   50.550
Bank Julius Baer &    4.500   9/28/2020   CHF   43.600
Bank Julius Baer &    5.000   9/28/2020   EUR   43.850
Landesbank Baden-Wu   2.350   6/26/2020   EUR   69.730
Landesbank Baden-Wu   2.500   6/26/2020   EUR   63.230
Landesbank Baden-Wu   3.600   6/26/2020   EUR   51.270
EFG International F   7.000   10/05/2020  CHF   50.100
EFG International F   6.600   10/05/2020  EUR   41.470
EFG International F   7.200   10/05/2020  USD   30.940
DekaBank Deutsche G   2.250  10/16/2020   EUR   46.190
DekaBank Deutsche G   2.000  10/16/2020   EUR   48.720
Leonteq Securities    7.200   9/29/2020   CHF   52.540
Leonteq Securities    7.000   9/29/2020   CHF   58.990
Leonteq Securities    8.000   9/29/2020   EUR   53.190
Leonteq Securities    8.200   9/29/2020   USD   69.720
Leonteq Securities    7.000   9/29/2020   CHF   57.060
UniCredit Bank AG     5.350  10/18/2020   EUR   66.130
UniCredit Bank AG     4.300  10/18/2021   EUR   42.860
DekaBank Deutsche G   2.500   9/22/2020   EUR   71.990
SG Issuer SA          6.420   9/25/2020   CHF   39.600
Landesbank Hessen-T   5.700  10/27/2022   EUR   36.180
Landesbank Hessen-T   3.500  10/27/2021   EUR   55.530
Leonteq Securities    7.600   10/06/2020  CHF   58.970
Bayerische Landesba   2.200  10/30/2020   EUR   58.240
Bayerische Landesba   3.300  10/30/2020   EUR   64.600
Bayerische Landesba   2.100   4/30/2021   EUR   71.500
UniCredit Bank AG     4.500   11/12/2022  EUR   67.250
Landesbank Baden-Wu   3.850  10/23/2020   EUR   72.620
Landesbank Baden-Wu   2.850  10/23/2020   EUR   52.400
Landesbank Baden-Wu   3.000  10/23/2020   EUR   55.220
Landesbank Baden-Wu   3.250  10/23/2020   EUR   66.160
Landesbank Baden-Wu   3.500  10/23/2020   EUR   50.240
DekaBank Deutsche G   2.250   11/08/2022  EUR   52.190
UniCredit Bank AG     3.120   9/25/2020   EUR   40.300
UniCredit Bank AG     3.550  10/24/2021   EUR   57.140
UniCredit Bank AG     4.920   9/25/2020   EUR   28.690
UniCredit Bank AG     3.800  10/24/2021   EUR   47.590
DekaBank Deutsche G   3.000   6/18/2020   EUR   59.980
Vontobel Financial    6.500   6/26/2020   EUR   46.200
Credit Suisse AG/Lo   5.750  12/24/2021   CHF   69.640
Zurcher Kantonalban   5.000   6/25/2021   CHF   67.410
DZ Bank AG Deutsche   8.250   9/23/2020   EUR   42.620
DZ Bank AG Deutsche   4.500   9/23/2020   EUR   66.310
DZ Bank AG Deutsche   6.250   9/23/2020   EUR   52.960
DZ Bank AG Deutsche   5.750   9/23/2020   EUR   67.420
Landesbank Baden-Wu   7.500   8/27/2021   EUR   66.660
Landesbank Baden-Wu   5.250   8/27/2021   EUR   60.100
Landesbank Baden-Wu   4.000   8/27/2021   EUR   70.970
Landesbank Baden-Wu   5.250   8/27/2021   EUR   68.840
Landesbank Baden-Wu   2.250   8/27/2021   EUR   72.090
Landesbank Baden-Wu   3.500   8/27/2021   EUR   68.110
Landesbank Baden-Wu   3.500   8/27/2021   EUR   72.540
Landesbank Baden-Wu   2.750   8/27/2021   EUR   62.800
Landesbank Baden-Wu   4.000   8/27/2021   EUR   58.820
Landesbank Baden-Wu   3.500   8/27/2021   EUR   64.980
Landesbank Baden-Wu   4.000   8/27/2021   EUR   55.930
Landesbank Baden-Wu   5.000   8/27/2021   EUR   53.910
Landesbank Baden-Wu   6.250   8/27/2021   EUR   52.900
Landesbank Baden-Wu   5.750   8/27/2021   EUR   67.200
Landesbank Baden-Wu   5.250   8/27/2021   EUR   59.950
Landesbank Baden-Wu   3.250   8/27/2021   EUR   47.340
Landesbank Baden-Wu   4.000   8/27/2021   EUR   45.120
Landesbank Baden-Wu   5.000   8/27/2021   EUR   43.630
Landesbank Baden-Wu   6.000   8/27/2021   EUR   42.470
Landesbank Baden-Wu   3.750   8/27/2021   EUR   69.100
Landesbank Baden-Wu   5.000   8/27/2021   EUR   67.010
Landesbank Baden-Wu   4.750   8/27/2021   EUR   71.730
Landesbank Baden-Wu   6.500   8/27/2021   EUR   67.690
Landesbank Baden-Wu   2.500   8/27/2021   EUR   68.130
Landesbank Baden-Wu   3.750   8/27/2021   EUR   64.980
Landesbank Baden-Wu   3.500   8/27/2021   EUR   62.870
Landesbank Baden-Wu   4.500   8/27/2021   EUR   64.740
Landesbank Baden-Wu   6.000   8/27/2021   EUR   62.030
Landesbank Baden-Wu   3.000   8/27/2021   EUR   66.550
Landesbank Baden-Wu   7.500   8/27/2021   EUR   61.380
Landesbank Baden-Wu   2.500   7/24/2020   EUR   65.900
Landesbank Baden-Wu   2.600   7/24/2020   EUR   60.890
Landesbank Baden-Wu   5.250   8/27/2021   EUR   66.920
Landesbank Baden-Wu   6.250   8/27/2021   EUR   64.730
Landesbank Baden-Wu   4.500   8/27/2021   EUR   63.750
Landesbank Baden-Wu   3.000   8/27/2021   EUR   57.380
Landesbank Baden-Wu   2.750   8/27/2021   EUR   64.090
Landesbank Baden-Wu   5.000   8/27/2021   EUR   60.780
Landesbank Baden-Wu   3.250   8/27/2021   EUR   68.230
Landesbank Baden-Wu   4.500   8/27/2021   EUR   73.000
Landesbank Baden-Wu   6.000   8/27/2021   EUR   71.910
Landesbank Baden-Wu   6.000   8/27/2021   EUR   62.760
Vontobel Financial   13.000   06/12/2020  EUR   34.000
Vontobel Financial    7.500   06/12/2020  EUR   38.350
Credit Suisse AG/Lo   8.000   10/02/2020  EUR   50.180
Vontobel Financial   12.000   06/12/2020  EUR   58.700
Vontobel Financial   12.500   09/11/2020  EUR   58.730
Vontobel Financial    9.500   09/11/2020  EUR   61.600
Vontobel Financial   18.500   09/11/2020  EUR   45.190
Vontobel Financial    8.000   06/12/2020  EUR   64.370
Vontobel Financial    9.500   06/12/2020  EUR   71.650
Vontobel Financial    8.000   06/12/2020  EUR   46.030
Vontobel Financial    5.400   9/18/2020   EUR   61.220
UBS AG/London         9.250   07/03/2020  CHF   64.200
UBS AG/London         5.500   07/04/2022  CHF   65.150
Vontobel Financial   13.600   6/19/2020   EUR   64.490
Vontobel Financial   10.000   09/11/2020  EUR   61.910
UniCredit Bank AG     4.100   08/02/2023  EUR   67.180
EFG International F  10.000   01/08/2021  EUR   55.540
Bank Julius Baer &    7.500   07/06/2020  EUR   51.150
Raiffeisen Switzerl  12.480   07/08/2020  EUR   48.820
Raiffeisen Switzerl  12.040   07/08/2020  CHF   48.220
Vontobel Financial   13.500   6/26/2020   EUR   34.260
Bayerische Landesba   3.200   06/12/2020  EUR   61.130
Bayerische Landesba   2.000   12/11/2020  EUR   72.240
Leonteq Securities    7.800  12/21/2020   CHF   54.320
Leonteq Securities    7.400  12/22/2020   CHF   42.670
Landesbank Hessen-T   3.000   6/15/2020   EUR   57.000
Landesbank Hessen-T   3.300   6/15/2020   EUR   57.600
UBS AG/London         7.000   6/15/2020   CHF   73.900
UBS AG/London         8.000   6/15/2020   EUR   34.200
UBS AG/London         5.500   6/15/2020   EUR   51.300
UBS AG/London         8.500   6/15/2020   CHF   30.700
EFG International F   7.200  12/29/2020   CHF   66.070
Bank Julius Baer &    6.000  12/29/2020   USD   45.950
Landesbank Baden-Wu   2.750  12/29/2020   EUR   49.780
Landesbank Baden-Wu   3.400  12/29/2020   EUR   73.140
Landesbank Baden-Wu   4.250  12/29/2020   EUR   32.360
Landesbank Baden-Wu   3.100   2/25/2022   EUR   44.560
Landesbank Baden-Wu   2.300   2/25/2022   EUR   58.570
Landesbank Baden-Wu   2.750   2/25/2022   EUR   61.760
Landesbank Hessen-T   4.000  12/22/2021   EUR   50.720
Landesbank Hessen-T   3.500  12/22/2021   EUR   58.400
DekaBank Deutsche G   4.000   01/07/2021  EUR   65.150
DekaBank Deutsche G   3.250   01/07/2021  EUR   53.230
Bayerische Landesba   3.000   12/04/2020  EUR   53.540
UBS AG/London         8.000   12/07/2020  CHF   66.300
UBS AG/London         9.100   9/24/2020   EUR   45.280
UBS AG/London        10.000   06/12/2020  EUR   35.700
Raiffeisen Centroba   7.500   1/14/2021   EUR   65.150
HSBC Trinkaus & Bur   9.200   6/26/2020   EUR   72.700
Societe Generale Ef  17.000   9/25/2020   EUR   65.010
Societe Generale Ef  15.500  12/28/2020   EUR   71.530
Societe Generale Ef  14.500   1/22/2021   EUR   71.860
Societe Generale Ef  18.250   9/25/2020   EUR   58.750
Societe Generale Ef  13.750  11/27/2020   EUR   65.200
Societe Generale Ef   7.750  12/28/2020   EUR   67.240
Societe Generale Ef   9.750  12/28/2020   EUR   66.270
Societe Generale Ef   7.000   1/22/2021   EUR   67.750
Societe Generale Ef  12.000   8/28/2020   EUR   65.460
Societe Generale Ef   8.000  12/28/2020   EUR   70.430
Societe Generale Ef   9.000  12/28/2020   EUR   69.320
Societe Generale Ef  15.000  12/28/2020   EUR   65.010
Societe Generale Ef   7.000   8/28/2020   EUR   70.470
Societe Generale Ef   8.000   8/28/2020   EUR   69.110
Societe Generale Ef   9.000   8/28/2020   EUR   67.900
Societe Generale Ef  19.000   8/28/2020   EUR   61.410
Societe Generale Ef   6.750   9/25/2020   EUR   71.050
Societe Generale Ef  17.750   9/25/2020   EUR   62.350
Societe Generale Ef   9.750  12/28/2020   EUR   63.900
Societe Generale Ef   6.250  11/27/2020   EUR   70.010
Societe Generale Ef   8.250  11/27/2020   EUR   65.850
Societe Generale Ef  10.250  11/27/2020   EUR   62.990
EFG International F   6.200   2/20/2023   CHF   65.560
Societe Generale Ef   8.250   7/24/2020   EUR   45.310
Societe Generale Ef   9.250   7/24/2020   EUR   44.310
Societe Generale Ef   9.750   7/24/2020   EUR   53.980
Societe Generale Ef  13.500   6/26/2020   EUR   72.270
Societe Generale Ef  17.500   6/26/2020   EUR   65.530
Societe Generale Ef  15.500   6/26/2020   EUR   62.010
Societe Generale Ef  17.500   6/26/2020   EUR   57.010
Societe Generale Ef   6.500   7/24/2020   EUR   70.930
Societe Generale Ef   7.500   7/24/2020   EUR   69.170
Societe Generale Ef  10.750   7/24/2020   EUR   73.170
Societe Generale Ef   8.500   7/24/2020   EUR   73.090
Societe Generale Ef   7.250   7/24/2020   EUR   69.620
Goldman Sachs & Co    8.000   6/24/2020   EUR   66.390
Goldman Sachs & Co    7.000   9/23/2020   EUR   69.810
Goldman Sachs & Co   19.000   9/23/2020   EUR   49.270
Goldman Sachs & Co   15.000  12/23/2020   EUR   53.900
Goldman Sachs & Co    6.000   3/24/2021   EUR   70.140
Goldman Sachs & Co    8.000   3/24/2021   EUR   66.140
Goldman Sachs & Co    9.000   6/24/2020   EUR   69.400
Goldman Sachs & Co   19.000   6/24/2020   EUR   55.410
Societe Generale Ef  11.750   7/24/2020   EUR   75.690
Societe Generale Ef  13.750   7/24/2020   EUR   71.490
Goldman Sachs & Co   10.000   9/23/2020   EUR   67.880
Goldman Sachs & Co   17.000   9/23/2020   EUR   58.360
Goldman Sachs & Co    8.000   3/24/2021   EUR   72.890
Societe Generale Ef   7.000   7/24/2020   EUR   69.420
Societe Generale Ef   8.000   7/24/2020   EUR   67.170
Societe Generale Ef   9.000   7/24/2020   EUR   65.200
Goldman Sachs & Co    9.000   9/23/2020   EUR   51.630
Goldman Sachs & Co   14.000   9/23/2020   EUR   46.420
Goldman Sachs & Co   17.000   9/23/2020   EUR   43.800
Goldman Sachs & Co    3.000  12/23/2020   EUR   65.530
Goldman Sachs & Co    5.000  12/23/2020   EUR   59.410
Goldman Sachs & Co    6.000  12/23/2020   EUR   56.790
Goldman Sachs & Co    7.000  12/23/2020   EUR   54.500
Goldman Sachs & Co   10.000  12/23/2020   EUR   51.160
Goldman Sachs & Co    2.000   3/24/2021   EUR   72.760
Goldman Sachs & Co    3.000   3/24/2021   EUR   66.200
Goldman Sachs & Co    3.000   3/24/2021   EUR   69.900
Goldman Sachs & Co    4.000   3/24/2021   EUR   63.540
Goldman Sachs & Co    5.000   3/24/2021   EUR   61.040
Societe Generale Ef   7.750   7/24/2020   EUR   67.610
Goldman Sachs & Co    8.000   3/24/2021   EUR   54.920
Goldman Sachs & Co   14.000   3/24/2021   EUR   49.720
Societe Generale Ef   8.500   7/24/2020   EUR   71.660
Societe Generale Ef   9.500   7/24/2020   EUR   70.380
Societe Generale Ef  19.500   6/26/2020   EUR   62.710
Societe Generale Ef  12.750   7/24/2020   EUR   72.220
Goldman Sachs & Co   15.000   9/23/2020   EUR   70.900
Societe Generale Ef   9.000   7/24/2020   EUR   66.420
Societe Generale Ef  13.000   7/24/2020   EUR   60.850
Societe Generale Ef   7.000   7/24/2020   EUR   59.220
Goldman Sachs & Co   19.000   6/24/2020   EUR   65.870
Banque Cantonale Va   4.500   3/29/2021   CHF   48.770
Vontobel Financial   16.000   06/12/2020  EUR   61.390
Landesbank Baden-Wu   2.500   9/25/2020   EUR   61.580
Landesbank Baden-Wu   4.500   9/25/2020   EUR   57.990
Landesbank Baden-Wu   4.000   9/25/2020   EUR   64.020
Landesbank Baden-Wu   2.500   9/25/2020   EUR   68.510
Landesbank Baden-Wu   3.000   9/25/2020   EUR   59.940
Landesbank Baden-Wu   6.000   9/25/2020   EUR   65.140
Landesbank Baden-Wu   5.000   9/25/2020   EUR   58.080
Landesbank Baden-Wu   6.000   9/25/2020   EUR   64.440
Landesbank Baden-Wu   7.000   9/25/2020   EUR   73.620
Leonteq Securities   10.600   7/26/2021   USD   52.430
Landesbank Baden-Wu   3.000   9/25/2020   EUR   61.000
Leonteq Securities    9.000  10/26/2020   EUR   67.280
Landesbank Baden-Wu   5.000   9/25/2020   EUR   59.520
Landesbank Baden-Wu   5.000   9/25/2020   EUR   57.300
Landesbank Baden-Wu   3.000   9/25/2020   EUR   69.870
Landesbank Baden-Wu   3.000   9/25/2020   EUR   64.800
Landesbank Baden-Wu   4.000   9/25/2020   EUR   56.040
Landesbank Baden-Wu   3.000   9/25/2020   EUR   65.210
BNP Paribas Emissio  13.000   6/25/2020   EUR   75.970
Goldman Sachs & Co   19.000   6/24/2020   EUR   59.050
Goldman Sachs & Co   21.000   6/24/2020   EUR   57.240
Goldman Sachs & Co   15.000  12/23/2020   EUR   63.410
Goldman Sachs & Co   14.000   3/24/2021   EUR   66.110
Goldman Sachs & Co   14.000   6/24/2020   EUR   56.160
Goldman Sachs & Co    8.000   9/23/2020   EUR   63.150
Goldman Sachs & Co   10.000   9/23/2020   EUR   60.230
Goldman Sachs & Co   15.000   9/23/2020   EUR   52.770
Goldman Sachs & Co    5.000  12/23/2020   EUR   66.400
Goldman Sachs & Co   10.000  12/23/2020   EUR   57.450
Goldman Sachs & Co   16.000  12/23/2020   EUR   51.210
Goldman Sachs & Co    7.000   3/24/2021   EUR   62.230
Goldman Sachs & Co    8.000   3/24/2021   EUR   61.070
Goldman Sachs & Co   15.000   3/24/2021   EUR   54.970
Goldman Sachs & Co    5.000   6/24/2020   EUR   67.390
Goldman Sachs & Co    8.000   6/24/2020   EUR   58.060
Goldman Sachs & Co   15.000   6/24/2020   EUR   47.420
Goldman Sachs & Co   19.000   6/24/2020   EUR   42.850
Goldman Sachs & Co    4.000   9/23/2020   EUR   69.400
Goldman Sachs & Co    5.000   9/23/2020   EUR   67.100
Goldman Sachs & Co    8.000   9/23/2020   EUR   59.400
Goldman Sachs & Co    6.000  12/23/2020   EUR   61.890
Goldman Sachs & Co    9.000  12/23/2020   EUR   56.610
Goldman Sachs & Co   15.000  12/23/2020   EUR   49.710
Goldman Sachs & Co    4.000   3/24/2021   EUR   68.160
Goldman Sachs & Co    7.000   3/24/2021   EUR   60.900
Goldman Sachs & Co   10.000   3/24/2021   EUR   55.270
Goldman Sachs & Co   13.000   3/24/2021   EUR   51.480
Vontobel Financial   20.000   9/25/2020   EUR   71.970
Vontobel Financial   10.000   9/25/2020   EUR   48.820
UBS AG/London         7.000   04/06/2021  CHF   70.550
UBS AG/London        15.000   04/05/2021  USD   44.790
Vontobel Financial   11.000   6/26/2020   EUR   55.900
Deutsche Bank AG      6.200  12/22/2020   EUR   67.600
Deutsche Bank AG      6.200   6/23/2020   EUR   56.690
Deutsche Bank AG      6.200  12/22/2020   EUR   60.180
DZ Bank AG Deutsche   9.000   6/24/2020   EUR   62.710
DZ Bank AG Deutsche   6.500   9/23/2020   EUR   58.990
DZ Bank AG Deutsche   5.750   9/23/2020   EUR   67.770
DekaBank Deutsche G   3.100   4/30/2021   EUR   71.610
Societe Generale Ef  12.750   6/26/2020   EUR   57.030
Banque Cantonale Va   4.500   3/29/2021   EUR   49.110
Bank Julius Baer &    6.360   7/30/2020   CHF   71.800
Zurcher Kantonalban   9.000   7/30/2021   EUR   58.320
Raiffeisen Centroba   8.959   6/23/2020   EUR   59.320
Landesbank Baden-Wu   5.750   1/22/2021   EUR   73.130
Landesbank Baden-Wu   5.250   1/22/2021   EUR   72.420
Landesbank Baden-Wu   7.000   2/26/2021   EUR   63.460
Landesbank Baden-Wu   5.250   1/22/2021   EUR   67.970
Landesbank Baden-Wu   2.000   1/22/2021   EUR   70.970
Landesbank Baden-Wu   4.000   1/22/2021   EUR   71.340
Landesbank Baden-Wu   3.000   7/22/2022   EUR   70.410
Leonteq Securities    5.600   04/04/2022  CHF   69.450
Vontobel Financial    5.000   06/01/2020  EUR   60.505
Vontobel Financial    7.200   7/31/2020   EUR   55.570
Vontobel Financial    5.500   08/07/2020  CHF   67.160
Vontobel Financial    8.900   08/07/2020  USD   66.910
UBS AG/London         8.000   7/31/2020   CHF   72.600
UBS AG/London         9.000   08/02/2021  CHF   70.800
UBS AG/London         4.000   08/02/2022  CHF   71.200
UBS AG/London         4.500   08/01/2022  EUR   72.000
UBS AG/London         6.000   08/02/2021  EUR   68.000
EFG International F  11.000   02/02/2021  EUR   49.550
Deutsche Bank AG      8.200   9/22/2020   EUR   57.300
Societe Generale Ef   3.750   6/26/2020   EUR   53.830
Societe Generale Ef   4.750   6/26/2020   EUR   51.800
Societe Generale Ef   5.750   6/26/2020   EUR   50.200
Credit Suisse AG/Lo   7.000  10/26/2020   CHF   64.370
Credit Suisse AG/Lo   5.000   7/30/2021   CHF   65.450
Credit Suisse AG/Lo   4.200   1/29/2021   CHF   64.890
Zurcher Kantonalban   6.800   1/29/2021   EUR   68.410
DZ Bank AG Deutsche   4.900   6/22/2020   EUR   46.150
Vontobel Financial   12.000   9/25/2020   EUR   62.040
Landesbank Baden-Wu   4.750   5/27/2022   EUR   69.280
Landesbank Baden-Wu   3.300   5/27/2022   EUR   52.760
DZ Bank AG Deutsche  13.100   6/26/2020   EUR   57.850
DZ Bank AG Deutsche   4.700  12/28/2020   EUR   73.640
DZ Bank AG Deutsche   7.300  12/28/2020   EUR   62.190
DZ Bank AG Deutsche   7.000   6/26/2020   EUR   46.170
DZ Bank AG Deutsche   5.200   9/25/2020   EUR   50.220
DZ Bank AG Deutsche   7.600   9/25/2020   EUR   65.270
DZ Bank AG Deutsche  10.000   9/25/2020   EUR   60.910
DZ Bank AG Deutsche   6.900  12/28/2020   EUR   66.240
Societe Generale Ef  11.500   6/26/2020   EUR   69.340
Societe Generale Ef   5.000   6/26/2020   EUR   70.350
DZ Bank AG Deutsche  11.900  12/28/2020   EUR   68.050
DZ Bank AG Deutsche   7.700  12/28/2020   EUR   68.410
Bank Julius Baer &   10.300   06/12/2020  CHF   73.650
DZ Bank AG Deutsche   9.500   6/26/2020   EUR   66.690
DZ Bank AG Deutsche  15.100   6/26/2020   EUR   60.600
DZ Bank AG Deutsche   4.900  12/28/2020   EUR   72.740
DZ Bank AG Deutsche   7.600   9/25/2020   EUR   61.590
DZ Bank AG Deutsche  13.500  12/28/2020   EUR   55.050
DZ Bank AG Deutsche  10.700   6/26/2020   EUR   57.210
DZ Bank AG Deutsche  17.000   6/26/2020   EUR   33.410
DZ Bank AG Deutsche  11.500   9/25/2020   EUR   38.780
Vontobel Financial    4.700   9/18/2020   EUR   53.620
Vontobel Financial    8.000   9/25/2020   EUR   57.030
UBS AG/London         4.500   02/01/2021  CHF   65.050
Leonteq Securities    8.000   08/05/2021  CHF   39.720
Leonteq Securities    6.500   08/05/2021  CHF   71.550
Leonteq Securities   16.400   11/05/2020  CHF   46.880
Leonteq Securities    9.200   08/02/2021  USD   64.600
EFG International F  13.500   08/05/2020  USD   56.060
Vontobel Financial   27.500   08/12/2020  USD   71.370
Corner Banca SA       7.500   08/05/2022  CHF   69.220
Corner Banca SA       9.000   11/05/2020  CHF   67.850
Corner Banca SA      17.000   08/05/2020  CHF   43.580
Societe Generale Ef   6.500   6/26/2020   EUR   46.990
Societe Generale Ef  10.500   6/26/2020   EUR   42.190
Raiffeisen Schweiz    5.200   08/02/2022  CHF   65.120
Raiffeisen Centroba   6.750   09/07/2021  EUR   53.190
Vontobel Financial    2.500   09/11/2020  EUR   52.950
Vontobel Financial    4.500   09/11/2020  EUR   49.160
Vontobel Financial   10.500   09/11/2020  EUR   43.630
Vontobel Financial    7.500   09/11/2020  EUR   45.920
Vontobel Financial    8.000   09/11/2020  EUR   72.840
Vontobel Financial   16.500   09/11/2020  EUR   68.980
Vontobel Financial    3.500   09/11/2020  EUR   74.200
Vontobel Financial   13.500   09/11/2020  EUR   63.660
Vontobel Financial   15.500   06/12/2020  EUR   55.720
Vontobel Financial   10.500   06/12/2020  EUR   61.600
Vontobel Financial    6.500   09/11/2020  EUR   69.130
Vontobel Financial    8.500   09/11/2020  EUR   66.350
Vontobel Financial   11.610   8/17/2020   EUR   73.620
Vontobel Financial   11.500   09/11/2020  EUR   70.670
Vontobel Financial    9.500   06/12/2020  EUR   72.610
Vontobel Financial    7.000   06/12/2020  EUR   71.950
Vontobel Financial   12.500   06/12/2020  EUR   66.320
Vontobel Financial    8.500   09/11/2020  EUR   70.610
Vontobel Financial   12.500   09/11/2020  EUR   66.450
Vontobel Financial   13.000   09/11/2020  EUR   70.460
Vontobel Financial    6.000   12/11/2020  EUR   61.930
Vontobel Financial    3.500   06/12/2020  EUR   64.840
Vontobel Financial    7.500   09/11/2020  EUR   60.110
Vontobel Financial    2.500   09/11/2020  EUR   55.330
Vontobel Financial   16.080  11/23/2020   EUR   49.320
Vontobel Financial    9.000   09/11/2020  EUR   49.800
Vontobel Financial   11.500   09/11/2020  EUR   66.720
Vontobel Financial    7.000   12/11/2020  EUR   66.810
Vontobel Financial    5.000   12/11/2020  EUR   70.460
Vontobel Financial   12.500   09/11/2020  EUR   53.510
Vontobel Financial   11.500   09/11/2020  EUR   57.220
Vontobel Financial    4.000   12/11/2020  EUR   70.550
Zurcher Kantonalban   6.000   5/25/2021   CHF   69.390
DZ Bank AG Deutsche   7.750  12/23/2020   EUR   66.530
DZ Bank AG Deutsche   8.250   3/24/2021   EUR   46.730
DZ Bank AG Deutsche   1.900   2/24/2021   EUR
Societe Generale Ef  14.250   1/22/2021   EUR   69.020
Societe Generale Ef   6.000  12/28/2020   EUR   70.240
Societe Generale Ef   6.000   8/28/2020   EUR   46.530
Societe Generale Ef  11.750  10/23/2020   EUR   45.570
Societe Generale Ef  14.000   9/25/2020   EUR   66.160
Societe Generale Ef  11.500  10/23/2020   EUR   46.000
Societe Generale Ef   8.000  10/23/2020   EUR   66.560
Societe Generale Ef  12.250   1/22/2021   EUR   70.230
Societe Generale Ef   6.250   8/28/2020   EUR   72.140
Societe Generale Ef   5.000  10/23/2020   EUR   73.800
Societe Generale Ef   7.000  10/23/2020   EUR   72.000
Societe Generale Ef  22.000   8/28/2020   EUR   69.150
Societe Generale Ef  17.750  12/28/2020   EUR   69.620
Vontobel Financial   10.000   9/25/2020   EUR   63.580
Vontobel Financial    5.500   09/11/2020  EUR   69.150
Vontobel Financial    8.500   12/11/2020  EUR   71.010
Vontobel Financial   11.000   12/11/2020  EUR   67.810
Vontobel Financial   11.500   12/11/2020  EUR   60.310
Vontobel Financial    8.500   09/11/2020  EUR   72.140
Vontobel Financial   13.000   09/11/2020  EUR   38.440
Societe Generale Ef   9.500   2/19/2021   EUR   55.170
Vontobel Financial    5.000   09/11/2020  EUR   44.340
Zurcher Kantonalban   6.000   5/25/2021   CHF   73.500
Zurcher Kantonalban   4.000   5/25/2021   EUR   60.290
Zurcher Kantonalban   6.800   5/25/2021   EUR   59.770
Vontobel Financial   12.000   09/11/2020  EUR   62.220
Vontobel Financial   13.000   09/11/2020  EUR   60.880
Vontobel Financial   14.000   09/11/2020  EUR   59.590
Vontobel Financial   15.500   09/11/2020  EUR   58.490
DZ Bank AG Deutsche   8.500   6/24/2020   EUR   41.420
DZ Bank AG Deutsche  10.250   6/24/2020   EUR   71.660
DZ Bank AG Deutsche   5.750   8/26/2020   EUR   50.700
Vontobel Financial   14.250   2/18/2021   EUR   64.570
Credit Suisse AG/Lo   8.250   11/05/2020  EUR   69.510
Zurcher Kantonalban   6.600   02/05/2021  EUR   67.090
Zurcher Kantonalban   8.000   8/13/2021   CHF   71.350
Zurcher Kantonalban   7.000   08/07/2020  EUR   57.670
Leonteq Securities   13.750   2/17/2021   EUR   53.710
Leonteq Securities    6.000   8/17/2022   CHF   62.020
Leonteq Securities   15.470   5/18/2021   CHF   62.560
Raiffeisen Schweiz    6.300   2/17/2022   CHF   65.030
UniCredit Bank AG    18.100   3/26/2021   EUR   68.380
UniCredit Bank AG    16.300   3/26/2021   EUR   68.840
Landesbank Hessen-T   4.000   3/20/2023   EUR   71.280
UniCredit Bank AG    14.300   3/26/2021   EUR   68.840
UniCredit Bank AG    14.800   6/25/2021   EUR   71.080
UniCredit Bank AG    19.300  12/28/2020   EUR   67.220
Corner Banca SA       8.410   08/06/2020  EUR   65.860
UBS AG/London         6.500   9/24/2020   EUR   52.390
Zurcher Kantonalban   6.000   5/27/2021   CHF   65.160
UBS AG/London         2.900  12/28/2020   EUR   71.970
UBS AG/London         4.900   9/24/2020   EUR   63.150
UniCredit Bank AG    18.100   6/26/2020   EUR   48.880
UniCredit Bank AG    18.300   3/26/2021   EUR   53.350
UniCredit Bank AG    17.900   9/25/2020   EUR   69.500
UniCredit Bank AG    18.600   3/26/2021   EUR   67.300
Zurcher Kantonalban  10.000   5/25/2021   EUR   63.780
Zurcher Kantonalban   8.000   8/20/2021   USD   66.110
UBS AG/London         8.400  12/28/2020   EUR   75.430
UniCredit Bank AG    14.000  12/24/2021   EUR   69.320
UniCredit Bank AG    19.700   3/26/2021   EUR   67.060
UBS AG/London         3.700  12/28/2020   EUR   67.580
DZ Bank AG Deutsche  15.900  12/28/2020   EUR   47.380
DZ Bank AG Deutsche  20.000  12/28/2020   EUR   65.220
DZ Bank AG Deutsche  16.800   3/26/2021   EUR   67.080
DZ Bank AG Deutsche  10.700   2/26/2021   EUR   48.910
DZ Bank AG Deutsche   7.000   6/25/2021   EUR   51.140
DZ Bank AG Deutsche   9.300   6/25/2021   EUR   50.890
DZ Bank AG Deutsche  15.700   9/25/2020   EUR   70.050
DZ Bank AG Deutsche   9.900   3/26/2021   EUR   73.280
DZ Bank AG Deutsche   6.900   6/25/2021   EUR   73.070
DZ Bank AG Deutsche   6.200   2/26/2021   EUR   67.560
DZ Bank AG Deutsche   9.100   6/25/2021   EUR
DZ Bank AG Deutsche   9.800   6/25/2021   EUR
DZ Bank AG Deutsche  14.000   2/26/2021   EUR   73.030
DZ Bank AG Deutsche  13.400   6/25/2021   EUR   70.780
DZ Bank AG Deutsche  14.900   6/25/2021   EUR   69.710
UBS AG/London        13.200   9/24/2020   EUR   71.290
UBS AG/London         9.300   9/24/2020   EUR   58.480
UBS AG/London         7.100   9/24/2020   EUR   65.620
DZ Bank AG Deutsche  12.000   6/25/2021   EUR   69.180
DZ Bank AG Deutsche   9.800   6/25/2021   EUR   71.710
DZ Bank AG Deutsche  19.000   9/25/2020   EUR
DZ Bank AG Deutsche  15.600  12/28/2020   EUR
DZ Bank AG Deutsche  20.800  12/28/2020   EUR   68.630
DZ Bank AG Deutsche   9.000   3/26/2021   EUR   64.750
DZ Bank AG Deutsche   8.300   6/25/2021   EUR   65.790
DZ Bank AG Deutsche  13.600   6/25/2021   EUR   63.150
DZ Bank AG Deutsche   8.000   9/25/2020   EUR
DZ Bank AG Deutsche  11.200   2/26/2021   EUR
DZ Bank AG Deutsche  10.700   2/26/2021   EUR   67.340
DZ Bank AG Deutsche  13.400   2/26/2021   EUR   66.080
DZ Bank AG Deutsche   7.400   6/25/2021   EUR   70.090
DZ Bank AG Deutsche   9.200   6/25/2021   EUR   68.640
DZ Bank AG Deutsche  11.200   6/25/2021   EUR   67.770
Societe Generale Ef  15.250   6/26/2020   EUR   73.130
Societe Generale Ef   5.250   9/25/2020   EUR   46.880
Societe Generale Ef   3.750  10/23/2020   EUR   47.920
Societe Generale Ef  18.000  11/27/2020   EUR   69.730
Societe Generale Ef   3.250   8/28/2020   EUR   73.440
Societe Generale Ef   4.000   8/28/2020   EUR   47.090
Societe Generale Ef  10.000   8/28/2020   EUR   44.240
Societe Generale Ef  11.750  11/27/2020   EUR   69.400
Societe Generale Ef   3.000   8/28/2020   EUR   51.710
Vontobel Financial    4.700   02/08/2021  EUR   70.520
Vontobel Financial    6.400   9/18/2020   EUR   53.710
Credit Suisse AG/Lo   9.000   08/03/2020  USD   56.960
Credit Suisse AG/Lo  11.000   08/06/2020  USD   51.200
Zurcher Kantonalban  10.000   5/18/2021   CHF   55.790
Zurcher Kantonalban   7.000   5/19/2021   CHF   73.600
Zurcher Kantonalban   9.750   8/26/2021   USD   62.000
Zurcher Kantonalban   9.250   8/26/2021   CHF   43.390
Zurcher Kantonalban   8.000   2/25/2022   CHF   51.740
EFG International F   6.400   08/09/2022  CHF   72.690
EFG International F   9.800   08/09/2021  USD   65.730
Societe Generale Ef   9.000   7/24/2020   EUR   70.610
Societe Generale Ef  14.750   8/28/2020   EUR   55.310
Raiffeisen Schweiz    6.000   2/19/2021   EUR   50.880
Vontobel Financial   20.000   9/25/2020   EUR   58.000
Bank Julius Baer &    9.050   08/07/2020  USD   67.200
UBS AG/London         8.000   02/08/2021  CHF   64.900
UBS AG/London         6.500   08/08/2022  CHF   68.200
UBS AG/London         7.250   02/08/2021  CHF   40.400
UBS AG/London         7.500   02/08/2021  EUR   70.800
Leonteq Securities   13.910   11/06/2020  CHF   47.160
Vontobel Financial   12.000   08/10/2020  EUR   60.750
Vontobel Financial    6.800   08/07/2020  CHF   65.490
Societe Generale Ef  13.500   6/26/2020   EUR   54.590
Societe Generale Ef  12.250   6/26/2020   EUR   71.580
Societe Generale Ef  16.250   6/26/2020   EUR   65.130
Societe Generale Ef  10.500   6/26/2020   EUR   72.900
Societe Generale Ef   9.750   6/26/2020   EUR   67.820
Societe Generale Ef   4.000   6/26/2020   EUR   62.560
Societe Generale Ef  14.000   6/26/2020   EUR   65.810
Societe Generale Ef   9.500   7/24/2020   EUR   55.790
Societe Generale Ef  14.500   6/26/2020   EUR   71.580
UBS AG/London        13.000   2/22/2021   USD   72.950
Vontobel Financial   12.000   2/22/2021   USD   69.820
Vontobel Financial   12.000   8/26/2020   EUR   63.620
Banque Cantonale Va   5.800   08/09/2021  CHF   56.720
UniCredit Bank AG     5.500   9/25/2020   EUR   62.150
UniCredit Bank AG    13.600   6/25/2021   EUR   70.220
UniCredit Bank AG    14.500  12/28/2020   EUR   74.420
UBS AG/London         5.750   8/20/2021   EUR   67.100
UniCredit Bank AG    12.100   6/26/2020   EUR   69.400
Leonteq Securities   20.000   11/09/2020  CHF   52.200
Leonteq Securities   10.000   08/09/2021  CHF   53.590
Leonteq Securities    8.000   08/09/2021  EUR   71.630
Leonteq Securities    9.400   08/09/2021  EUR   62.330
Bayerische Landesba   2.850   1/22/2021   EUR   54.280
HSBC Trinkaus & Bur   5.200   6/26/2020   EUR   58.280
HSBC Trinkaus & Bur   6.300   6/26/2020   EUR   43.360
HSBC Trinkaus & Bur   4.200   6/26/2020   EUR   48.180
BNP Paribas Emissio   7.500   6/25/2020   EUR   46.370
DekaBank Deutsche G   3.200   1/15/2021   EUR   49.450
HSBC Trinkaus & Bur   6.700   6/26/2020   EUR   40.340
HSBC Trinkaus & Bur   5.600  12/28/2020   EUR   32.150
HSBC Trinkaus & Bur   6.300  12/28/2020   EUR   70.520
HSBC Trinkaus & Bur   5.700   6/25/2021   EUR   50.560
HSBC Trinkaus & Bur   5.000   6/26/2020   EUR   65.170
HSBC Trinkaus & Bur   7.000   6/26/2020   EUR   57.240
HSBC Trinkaus & Bur   9.500   6/26/2020   EUR   40.890
HSBC Trinkaus & Bur   7.100   6/26/2020   EUR   63.970
HSBC Trinkaus & Bur   8.900   9/25/2020   EUR   69.740
HSBC Trinkaus & Bur   7.400   9/25/2020   EUR   73.310
HSBC Trinkaus & Bur   3.100   9/25/2020   EUR   67.580
HSBC Trinkaus & Bur   8.800   9/25/2020   EUR   30.250
HSBC Trinkaus & Bur   2.900   9/25/2020   EUR   41.370
HSBC Trinkaus & Bur   8.700   6/26/2020   EUR   65.390
BNP Paribas Emissio   9.500   6/25/2020   EUR   66.290
SG Issuer SA          6.000   6/24/2020   EUR   65.990
Societe Generale Ef   9.000   9/25/2020   EUR   69.500
Societe Generale Ef  11.000   9/25/2020   EUR   67.950
Societe Generale Ef  13.000   9/25/2020   EUR   66.730
Societe Generale Ef  15.000   9/25/2020   EUR   65.770
Societe Generale Ef  19.000   9/25/2020   EUR   64.340
Societe Generale Ef  21.000   9/25/2020   EUR   63.800
DZ Bank AG Deutsche  15.100   9/25/2020   EUR   71.710
DZ Bank AG Deutsche  18.700   9/25/2020   EUR   69.440
DZ Bank AG Deutsche  22.800   9/25/2020   EUR   67.570
DZ Bank AG Deutsche  14.000  12/28/2020   EUR   71.010
Societe Generale Ef   6.750  10/23/2020   EUR   71.410
Societe Generale Ef   8.750  10/23/2020   EUR   69.410
Societe Generale Ef  10.750  10/23/2020   EUR   67.900
Societe Generale Ef  12.750  10/23/2020   EUR   66.680
Societe Generale Ef  14.750  10/23/2020   EUR   65.750
Societe Generale Ef  16.750  10/23/2020   EUR   65.080
Societe Generale Ef  18.750  10/23/2020   EUR   64.490
Societe Generale Ef   6.500  11/27/2020   EUR   71.260
Societe Generale Ef   8.500  11/27/2020   EUR   68.880
Societe Generale Ef  10.500  11/27/2020   EUR   67.670
Societe Generale Ef  12.500  11/27/2020   EUR   66.560
Societe Generale Ef  14.500  11/27/2020   EUR   65.790
Societe Generale Ef  16.500  11/27/2020   EUR   65.180
Societe Generale Ef   7.000  12/28/2020   EUR   69.680
Societe Generale Ef   9.000  12/28/2020   EUR   68.380
Societe Generale Ef  11.000  12/28/2020   EUR   67.200
Societe Generale Ef  13.000  12/28/2020   EUR   66.320
Societe Generale Ef  15.000  12/28/2020   EUR   65.640
Societe Generale Ef  18.500   9/25/2020   EUR   70.730
Societe Generale Ef  20.500   9/25/2020   EUR   69.450
DZ Bank AG Deutsche  16.700  12/28/2020   EUR   69.530
DZ Bank AG Deutsche  19.700  12/28/2020   EUR   68.530
DZ Bank AG Deutsche  11.500   3/26/2021   EUR   71.760
DZ Bank AG Deutsche  13.600   3/26/2021   EUR   70.610
DZ Bank AG Deutsche  15.800   3/26/2021   EUR   69.950
DZ Bank AG Deutsche   9.900   6/25/2021   EUR   72.570
DZ Bank AG Deutsche  11.600   6/25/2021   EUR   71.480
DZ Bank AG Deutsche  13.400   6/25/2021   EUR   70.860
Societe Generale Ef  16.750  10/23/2020   EUR   71.520
Societe Generale Ef  18.750  10/23/2020   EUR   70.160
Societe Generale Ef  16.750  11/27/2020   EUR   70.980
Vontobel Financial   13.500   3/26/2021   EUR   73.560
UBS AG/London        10.750   3/18/2021   CHF   72.500
UBS AG/London        11.500   3/18/2021   CHF   72.200
UBS AG/London        14.250   3/18/2021   CHF   16.200
Societe Generale SA   3.000   11/07/2031  EUR   45.750
EFG International F   8.200   07/04/2022  CHF   65.080
Vontobel Financial    5.500   6/26/2020   EUR   58.890
Vontobel Financial   10.500   6/26/2020   EUR   51.900
Vontobel Financial   14.000   6/26/2020   EUR   67.040
Vontobel Financial    6.000   6/26/2020   EUR   40.920
Vontobel Financial    8.000   6/26/2020   EUR   38.350
Vontobel Financial    7.000   6/26/2020   EUR   39.590
Vontobel Financial    9.500   6/26/2020   EUR   37.230
Vontobel Financial   10.500   6/26/2020   EUR   36.150
Vontobel Financial   12.000   6/26/2020   EUR   35.170
Vontobel Financial   14.500   6/26/2020   EUR   72.080
Vontobel Financial   24.000   6/26/2020   EUR   55.290
Vontobel Financial   19.500   6/26/2020   EUR   62.720
Vontobel Financial    6.500   6/26/2020   EUR   55.620
Vontobel Financial   11.000   6/26/2020   EUR   45.130
Vontobel Financial    7.500   6/26/2020   EUR   48.520
Vontobel Financial    8.500   6/26/2020   EUR   69.230
Vontobel Financial   11.500   6/26/2020   EUR   62.960
Vontobel Financial   12.500   6/26/2020   EUR   41.820
Vontobel Financial   17.000   6/26/2020   EUR   38.960
Vontobel Financial    4.000   6/26/2020   EUR   72.770
Vontobel Financial   14.500   6/26/2020   EUR   60.270
Vontobel Financial    6.000   6/26/2020   EUR   65.130
Vontobel Financial   15.000   6/26/2020   EUR   53.950
Bank Julius Baer &   11.350   07/06/2020  EUR   61.750
Vontobel Financial   16.000   6/26/2020   EUR   64.790
Vontobel Financial   19.000   6/25/2020   EUR   72.130
Vontobel Financial    3.000   6/26/2020   EUR   63.200
Vontobel Financial    6.000   6/26/2020   EUR   58.750
Vontobel Financial   10.000   6/26/2020   EUR   55.260
Vontobel Financial   20.000   6/26/2020   EUR   58.970
Vontobel Financial   11.000   6/26/2020   EUR   73.310
Vontobel Financial   12.000   6/26/2020   EUR   70.970
Leonteq Securities   18.000   10/05/2020  CHF   62.710
Leonteq Securities   11.200   10/05/2020  CHF   72.700
Corner Banca SA      11.300   07/08/2020  EUR   57.250
Leonteq Securities    7.600   07/05/2021  CHF   68.190
Leonteq Securities    7.800   07/08/2021  CHF   72.780
Raiffeisen Schweiz    8.750   10/05/2020  CHF   42.740
Raiffeisen Schweiz    5.250   07/05/2021  CHF   56.000
Raiffeisen Schweiz    5.000   07/05/2022  CHF   68.830
UniCredit Bank AG     4.600   8/14/2023   EUR   70.930
Societe Generale Ef   5.500   6/26/2020   EUR   70.400
Raiffeisen Switzerl   4.800  11/23/2023   CHF   42.790
Landesbank Hessen-T   3.000  12/22/2022   EUR   68.140
Landesbank Hessen-T   6.250  12/22/2022   EUR   31.390
UniCredit Bank AG     4.450  12/29/2022   EUR   40.430
UniCredit Bank AG     4.300  12/19/2021   EUR   46.890
UniCredit Bank AG     4.700  12/19/2021   EUR   36.500
UniCredit Bank AG     5.500  12/19/2020   EUR   56.510
Natixis SA            3.690   11/09/2020  USD   36.940
Corner Banca SA      10.000   12/01/2020  CHF   50.180
Landesbank Hessen-T   3.250   07/08/2020  EUR   47.400
UniCredit Bank AG     4.150  12/28/2021   EUR   73.060
Leonteq Securities    6.400   06/04/2020  CHF    8.400
Leonteq Securities    8.000   06/04/2020  EUR   63.570
Vontobel Financial   11.500   6/26/2020   EUR   64.880
Vontobel Financial   17.000   9/25/2020   EUR   59.200
Vontobel Financial    7.500   9/25/2020   EUR   71.710
Zurcher Kantonalban   7.170   2/17/2021   CHF   63.730
Raiffeisen Schweiz    5.400   8/17/2022   CHF   60.150
Raiffeisen Schweiz    7.800   2/14/2022   EUR   62.630
Raiffeisen Schweiz    8.000   2/14/2022   CHF   63.590
Raiffeisen Schweiz   10.500   2/17/2021   CHF   54.130
Raiffeisen Schweiz    5.250   2/14/2022   CHF   72.160
Societe Generale Ef   4.500   6/26/2020   EUR   50.790
Societe Generale Ef   8.500   6/26/2020   EUR   44.300
Societe Generale Ef  12.500   6/26/2020   EUR   40.460
Vontobel Financial    9.000   06/12/2020  EUR   73.930
Vontobel Financial    8.000   09/11/2020  EUR   68.160
Vontobel Financial   10.500   06/12/2020  EUR   60.570
Vontobel Financial   14.500   09/11/2020  EUR   56.900
Vontobel Financial   16.500   06/12/2020  EUR   54.220
Vontobel Financial    7.500   09/11/2020  EUR   67.830
Vontobel Financial   11.000   09/11/2020  EUR   63.610
Vontobel Financial    7.000   09/11/2020  EUR   77.030
Vontobel Financial   11.500   06/12/2020  EUR   71.830
Vontobel Financial   13.500   06/12/2020  EUR   53.330
Vontobel Financial   16.500   09/11/2020  EUR   52.930
Vontobel Financial    5.500   09/11/2020  EUR   52.170
Vontobel Financial   10.000   06/12/2020  EUR   43.350
Vontobel Financial    8.000   09/11/2020  EUR   70.820
Vontobel Financial   12.500   12/11/2020  EUR   66.520
Vontobel Financial    8.500   12/11/2020  EUR   70.020
Vontobel Financial    9.500   12/11/2020  EUR   64.280
Vontobel Financial   17.500   09/11/2020  EUR   51.800
Vontobel Financial    8.000   12/11/2020  EUR   62.260
Vontobel Financial   12.500   12/11/2020  EUR   56.640
Zurcher Kantonalban  10.000   2/25/2021   CHF   70.920
Zurcher Kantonalban   6.000   5/25/2021   CHF   57.040
DZ Bank AG Deutsche   7.000   2/24/2021   EUR   71.500
Societe Generale Ef  13.250   1/22/2021   EUR   69.610
Societe Generale Ef   6.000  10/23/2020   EUR   69.800
Societe Generale Ef  17.000  10/23/2020   EUR   67.000
Societe Generale Ef  16.000  11/27/2020   EUR   67.840
Societe Generale Ef  10.250   1/22/2021   EUR   71.770
Societe Generale Ef  11.250   1/22/2021   EUR   70.990
Societe Generale Ef   7.500   9/25/2020   EUR   71.510
Societe Generale Ef   6.000  10/23/2020   EUR   72.810
Societe Generale Ef  23.000   8/28/2020   EUR   68.520
Vontobel Financial    3.500   12/11/2020  EUR   71.420
Vontobel Financial    7.000   12/11/2020  EUR   64.990
Vontobel Financial   11.500   09/11/2020  EUR   67.930
Vontobel Financial    9.500   06/12/2020  EUR   71.240
Vontobel Financial    9.000   09/11/2020  EUR   72.550
Vontobel Financial    7.500   09/11/2020  EUR   41.940
Vontobel Financial   10.000   09/11/2020  EUR   39.950
Zurcher Kantonalban  10.000   5/25/2021   CHF   68.300
Zurcher Kantonalban   5.600   5/25/2021   CHF   62.680
Zurcher Kantonalban   8.000   5/25/2021   EUR   64.370
Zurcher Kantonalban   6.000   5/25/2021   EUR   57.240
Zurcher Kantonalban   6.500   5/25/2021   EUR   67.390
Zurcher Kantonalban   8.600   8/25/2021   USD   71.260
Credit Suisse AG/Lo   9.500   2/16/2021   USD   72.260
Vontobel Financial    9.500   09/11/2020  EUR   64.840
DZ Bank AG Deutsche   6.000   6/24/2020   EUR   64.520
DZ Bank AG Deutsche   7.500   9/23/2020   EUR   61.690
DZ Bank AG Deutsche   5.250   8/26/2020   EUR   48.260
Societe Generale Ef  17.000   6/26/2020   EUR   67.170
Credit Suisse AG/Lo   7.000   11/06/2020  CHF   67.190
Zurcher Kantonalban   5.858   1/22/2021   CHF   64.880
UniCredit Bank AG    19.800   9/25/2020   EUR   67.230
UniCredit Bank AG    11.100  12/24/2021   EUR   72.530
UniCredit Bank AG    19.000   9/25/2020   EUR   71.360
Landesbank Baden-Wu   3.400   6/23/2023   EUR   71.350
UBS AG/London        15.700   9/24/2020   EUR   57.500
UBS AG/London         5.200   9/24/2020   EUR   53.820
UniCredit Bank AG    17.600   6/25/2021   EUR   54.560
UniCredit Bank AG    18.200   6/26/2020   EUR   75.260
UniCredit Bank AG    19.100   3/26/2021   EUR   67.140
UniCredit Bank AG    19.800   9/25/2020   EUR   68.420
UniCredit Bank AG    18.900  12/28/2020   EUR   67.070
UniCredit Bank AG    18.900   9/25/2020   EUR   68.960
UniCredit Bank AG    19.700  12/28/2020   EUR   66.860
UBS AG/London         2.500   9/24/2020   EUR   68.320
UniCredit Bank AG    17.400   6/25/2021   EUR   67.270
DZ Bank AG Deutsche  20.300   9/25/2020   EUR   44.580
DZ Bank AG Deutsche  14.100   2/26/2021   EUR   67.940
DZ Bank AG Deutsche   9.500   6/25/2021   EUR   70.740
DZ Bank AG Deutsche  13.400   3/26/2021   EUR   49.200
DZ Bank AG Deutsche  11.700   6/25/2021   EUR   50.770
DZ Bank AG Deutsche  12.000  12/28/2020   EUR   72.050
DZ Bank AG Deutsche   8.500   6/25/2021   EUR   72.230
DZ Bank AG Deutsche   3.000   3/26/2021   EUR
DZ Bank AG Deutsche   5.500   6/25/2021   EUR
DZ Bank AG Deutsche   8.200   2/26/2021   EUR
DZ Bank AG Deutsche   7.000   6/25/2021   EUR
DZ Bank AG Deutsche  16.100   2/26/2021   EUR   71.530
DZ Bank AG Deutsche  13.400   3/26/2021   EUR   73.630
DZ Bank AG Deutsche  12.000   6/25/2021   EUR   73.420
DZ Bank AG Deutsche  10.300   6/25/2021   EUR   70.370
DZ Bank AG Deutsche  11.400   6/25/2021   EUR
DZ Bank AG Deutsche  14.700   6/25/2021   EUR   68.160
UBS AG/London         5.900   9/24/2020   EUR   62.210
UBS AG/London         6.700   9/24/2020   EUR   67.430
UBS AG/London         1.900   9/24/2020   EUR   70.200
DZ Bank AG Deutsche  15.700   9/25/2020   EUR
DZ Bank AG Deutsche  10.900   6/25/2021   EUR   64.150
DZ Bank AG Deutsche  14.200   6/25/2021   EUR   71.710
BNP Paribas Issuanc  18.000   8/13/2029   EUR   67.060
Societe Generale Ef   4.750   1/22/2021   EUR   56.050
Bank Julius Baer &    4.750   08/07/2020  EUR   72.600
Bank Julius Baer &    7.820   08/07/2020  EUR   73.250
Societe Generale Ef   7.250   9/25/2020   EUR   45.800
Societe Generale Ef   9.250   9/25/2020   EUR   45.150
Societe Generale Ef   5.750  10/23/2020   EUR   46.450
Societe Generale Ef  17.000  12/28/2020   EUR   70.700
Societe Generale Ef   8.000   8/28/2020   EUR   44.840
Societe Generale Ef   3.250   9/25/2020   EUR   48.680
Societe Generale Ef   7.250  10/23/2020   EUR   69.940
Societe Generale Ef  12.750  11/27/2020   EUR   68.750
Credit Suisse AG/Lo   8.750   11/02/2020  USD   68.480
Credit Suisse AG/Lo   6.000   02/07/2022  CHF   72.100
Credit Suisse AG/Lo   8.500   5/18/2021   EUR   62.870
Zurcher Kantonalban   5.750   8/27/2021   CHF   70.150
EFG International F  16.000   08/12/2020  CHF   48.350
EFG International F   9.000   08/09/2021  USD   69.900
EFG International F  11.000   08/07/2020  EUR   68.350
EFG International F   8.600   08/09/2021  CHF   62.580
UniCredit Bank AG     4.650   09/11/2023  EUR   68.410
Societe Generale Ef   6.500   6/26/2020   EUR   66.270
Societe Generale Ef  13.500   9/25/2020   EUR   56.200
Vontobel Financial    4.000   1/13/2021   EUR   68.190
Leonteq Securities    3.000   2/19/2024   CHF   72.790
Raiffeisen Switzerl  10.000   2/19/2021   USD   38.520
Credit Suisse AG/Lo   7.000   8/19/2021   CHF   71.250
Credit Suisse AG/Lo   4.850   2/27/2023   EUR   72.870
Vontobel Financial    5.040   2/23/2021   EUR   66.860
Societe Generale Ef   6.750  10/23/2020   EUR   71.410
Societe Generale Ef   7.750  10/23/2020   EUR   70.040
Societe Generale Ef   8.750  10/23/2020   EUR   68.820
Societe Generale Ef   9.750  10/23/2020   EUR   67.800
Societe Generale Ef   3.750  12/28/2020   EUR   71.210
Societe Generale Ef   5.750  12/28/2020   EUR   68.770
Societe Generale Ef   9.000   1/22/2021   EUR   66.620
Societe Generale Ef   8.000   8/28/2020   EUR   68.190
Societe Generale Ef  10.000   8/28/2020   EUR   66.650
Societe Generale Ef   7.000  12/28/2020   EUR   71.710
Societe Generale Ef  10.000  12/28/2020   EUR   68.340
Societe Generale Ef  11.000  12/28/2020   EUR   67.450
Societe Generale Ef   7.750   9/25/2020   EUR   69.680
Raiffeisen Switzerl   7.000   8/19/2021   EUR   62.800
EFG International F   8.160   2/26/2025   EUR   48.640
Bank Julius Baer &    6.400   2/23/2021   USD   73.950
Vontobel Financial   18.300   8/21/2020   USD   31.060
Vontobel Financial   13.950   8/21/2020   USD   53.270
Zurcher Kantonalban  10.200   2/19/2021   CHF   59.510
Zurcher Kantonalban   7.602   2/19/2021   CHF   63.580
Vontobel Financial    5.600   2/22/2021   EUR   44.480
Corner Banca SA      14.200   8/24/2021   USD   56.430
Raiffeisen Schweiz    5.600   5/20/2021   CHF   66.360
Leonteq Securities    6.800   2/20/2023   CHF   59.550
Bank Julius Baer &    9.000   2/23/2021   EUR   57.950
Landesbank Hessen-T   3.750   6/15/2020   EUR   59.700
Landesbank Hessen-T   2.600   6/15/2020   EUR   66.200
Leonteq Securities    7.260  11/16/2020   CHF   52.740
DekaBank Deutsche G   1.900  11/20/2020   EUR   67.440
DekaBank Deutsche G   3.000   06/12/2020  EUR   58.820
EFG International F   7.200  11/23/2020   CHF   53.720
EFG International F   7.000  11/23/2020   CHF   40.890
EFG International F   8.000  11/23/2020   EUR   49.930
EFG International F   7.800  11/24/2020   USD   40.150
Landesbank Hessen-T   5.400  11/24/2022   EUR   35.630
Landesbank Baden-Wu   3.000  12/29/2020   EUR   62.990
Landesbank Baden-Wu   3.500  12/29/2020   EUR   50.720
Leonteq Securities    6.400  11/17/2020   CHF   53.080
Raiffeisen Schweiz    7.300  11/13/2020   CHF   62.260
DekaBank Deutsche G   2.550   12/11/2020  EUR   54.500
Landesbank Hessen-T   7.800  12/15/2022   EUR   39.880
Landesbank Hessen-T   7.250   3/15/2023   EUR   59.410
Landesbank Baden-Wu   2.200   8/28/2020   EUR   64.460
Landesbank Baden-Wu   2.450   8/28/2020   EUR   72.330
Landesbank Baden-Wu   3.000   8/28/2020   EUR   59.960
Landesbank Baden-Wu   3.350   8/28/2020   EUR   63.570
Societe Generale SA  11.500  11/30/2020   USD
EFG International F   6.800  11/29/2021   CHF   63.930
EFG International F   7.000  11/30/2020   CHF   54.450
EFG International F   7.200  11/30/2020   EUR   48.440
Landesbank Baden-Wu   2.750   3/25/2022   EUR   70.950
Landesbank Baden-Wu   2.800   3/25/2022   EUR   60.780
Landesbank Baden-Wu   2.500   3/25/2022   EUR   61.940
Leonteq Securities    4.200   06/01/2021  CHF   30.150
DekaBank Deutsche G   2.000   12/11/2020  EUR   66.110
Landesbank Baden-Wu   2.350  11/26/2021   EUR   67.770
Landesbank Baden-Wu   3.500  11/26/2021   EUR   69.770
Zurcher Kantonalban   7.000   9/14/2020   CHF   64.660
Leonteq Securities    6.100   3/15/2021   CHF   68.890
DZ Bank AG Deutsche   6.000   9/27/2021   EUR   65.100
Raiffeisen Schweiz    7.300   9/14/2020   CHF   51.980
Raiffeisen Schweiz    7.000   9/14/2020   CHF   52.620
Raiffeisen Schweiz    6.500   9/14/2020   EUR   62.800
Raiffeisen Schweiz    6.100   9/14/2020   CHF   68.870
Raiffeisen Schweiz    5.300   9/14/2020   CHF   68.540
Landesbank Hessen-T   4.000   10/12/2022  EUR   58.940
Landesbank Hessen-T   3.000   7/15/2021   EUR   71.700
DekaBank Deutsche G   2.300   10/02/2020  EUR   70.830
DekaBank Deutsche G   2.900   10/02/2020  EUR   65.170
Basler Kantonalbank   4.950   9/25/2020   CHF   65.730
Landesbank Hessen-T   5.200  10/22/2024   EUR   57.550
UniCredit Bank AG     5.550   10/05/2021  EUR   52.370
UniCredit Bank AG     4.500   10/05/2022  EUR   65.120
UBS AG/London         6.250   9/14/2020   CHF   51.650
Raiffeisen Schweiz    6.300   06/10/2020  CHF   54.390
Raiffeisen Schweiz    6.000   12/07/2020  EUR   46.520
UBS AG/London         7.000   12/07/2020  EUR   69.100
UBS AG/London        12.000   06/05/2020  EUR   43.150
UBS AG/London         6.200   12/07/2020  EUR   53.100
UniCredit Bank AG     5.050   01/11/2022  EUR   33.320
UniCredit Bank AG     4.750   01/11/2022  EUR   61.000
UniCredit Bank AG     5.750   01/11/2022  EUR   43.100
Landesbank Baden-Wu   4.000   7/24/2020   EUR   61.120
Landesbank Baden-Wu   3.600   7/24/2020   EUR   45.600
Bank Julius Baer &   10.900  12/14/2020   USD   46.250
Landesbank Hessen-T   4.300   7/17/2020   EUR   55.900
DekaBank Deutsche G   2.150   1/21/2022   EUR   47.720
HSBC Trinkaus & Bur   3.100   6/26/2020   EUR   67.150
UBS AG/London        12.000   06/12/2020  USD   19.100
Nordea Bank Abp       7.340   1/20/2024   SEK   73.500
Commerzbank AG        2.980  12/28/2021   EUR   49.570
Commerzbank AG        2.980  12/28/2021   USD   49.100
DekaBank Deutsche G   6.000   06/11/2021  EUR   45.490
Landesbank Baden-Wu   4.100   1/28/2022   EUR   52.740
UBS AG/London        10.000   6/19/2020   EUR   67.150
EFG International F  14.800   8/19/2021   CHF   65.150
Raiffeisen Schweiz    4.600   2/20/2023   CHF   62.580
Leonteq Securities   10.000   8/19/2021   CHF   60.630
Bank Julius Baer &    8.100   2/23/2021   EUR   62.050
Raiffeisen Centroba  20.605  12/23/2020   EUR   71.700
Raiffeisen Centroba  24.137  12/23/2020   EUR   72.010
Vontobel Financial   18.650   8/21/2020   USD   74.070
Raiffeisen Centroba  18.250  12/23/2020   EUR   69.280
EFG International F   8.620   8/24/2022   CHF   66.750
Leonteq Securities   14.000   2/24/2021   USD   63.930
Corner Banca SA       8.000   2/24/2021   CHF   44.650
Bank Julius Baer &    6.200   2/23/2021   CHF   70.850
Vontobel Financial   21.600   8/21/2020   USD   32.100
Landesbank Baden-Wu   4.200   2/26/2021   EUR   73.610
Landesbank Baden-Wu   3.250   2/26/2021   EUR   71.720
Landesbank Baden-Wu   6.000   2/26/2021   EUR   68.280
Landesbank Baden-Wu  10.500   2/26/2021   EUR   65.360
Landesbank Baden-Wu   1.900   2/26/2021   EUR   65.320
Landesbank Baden-Wu   4.000   2/26/2021   EUR   61.870
Landesbank Baden-Wu   3.000   2/26/2021   EUR   64.780
Landesbank Baden-Wu   7.500   2/26/2021   EUR   68.160
Landesbank Baden-Wu   4.700   2/26/2021   EUR   68.130
Landesbank Baden-Wu   5.200   2/26/2021   EUR   66.750
Landesbank Baden-Wu   6.000   2/26/2021   EUR   69.240
Landesbank Baden-Wu   3.000   2/26/2021   EUR   73.830
Landesbank Baden-Wu   4.500   2/26/2021   EUR   68.260
Landesbank Baden-Wu   7.500   2/26/2021   EUR   64.990
Landesbank Baden-Wu  12.000   2/26/2021   EUR   66.170
Landesbank Baden-Wu  11.500   2/26/2021   EUR   62.720
Landesbank Baden-Wu   2.900   2/26/2021   EUR   72.260
Landesbank Baden-Wu   3.600   2/26/2021   EUR   71.330
Landesbank Baden-Wu   4.400   2/26/2021   EUR   70.520
Landesbank Baden-Wu   3.500   2/26/2021   EUR   74.660
Landesbank Baden-Wu   2.300   2/26/2021   EUR   52.910
Landesbank Baden-Wu   4.000   2/26/2021   EUR   67.130
Landesbank Baden-Wu   6.250   2/26/2021   EUR   64.790
Landesbank Baden-Wu   2.400   2/26/2021   EUR   51.370
Landesbank Baden-Wu   3.500   2/26/2021   EUR   50.140
Landesbank Baden-Wu   4.000   2/26/2021   EUR   49.760
Landesbank Baden-Wu   4.500   2/26/2021   EUR   49.020
Landesbank Baden-Wu   2.000   2/26/2021   EUR   70.330
Societe Generale Ef   8.000  10/23/2020   EUR   45.440
Societe Generale Ef  13.000  11/27/2020   EUR   70.120
Societe Generale Ef  12.000  12/28/2020   EUR   70.790
Societe Generale Ef  21.250  10/23/2020   EUR   71.210
Societe Generale Ef  10.500  10/23/2020   EUR   68.920
Societe Generale Ef  12.500  10/23/2020   EUR   67.560
Societe Generale Ef  12.250   1/22/2021   EUR   68.280
Societe Generale Ef  15.500  11/27/2020   EUR   60.220
Societe Generale Ef   9.000   1/22/2021   EUR   64.900
Societe Generale Ef  13.000   8/28/2020   EUR   60.070
Societe Generale Ef  15.000   8/28/2020   EUR   58.970
Societe Generale Ef   9.500   9/25/2020   EUR   63.080
Societe Generale Ef  12.500   9/25/2020   EUR   60.790
Societe Generale Ef  12.500  10/23/2020   EUR   61.210
Societe Generale Ef   5.500  11/27/2020   EUR   69.140
Societe Generale Ef   6.500  11/27/2020   EUR   67.460
Societe Generale Ef   8.500  11/27/2020   EUR   64.940
Societe Generale Ef  12.500  11/27/2020   EUR   61.740
Societe Generale Ef  13.250  11/27/2020   EUR   67.360
Societe Generale Ef   7.000  12/28/2020   EUR   72.190
Societe Generale Ef   5.750   9/25/2020   EUR   71.940
Societe Generale Ef  17.500  10/23/2020   EUR   60.430
Societe Generale Ef   7.500  12/28/2020   EUR   67.270
Societe Generale Ef  13.000  12/28/2020   EUR   67.840
Societe Generale Ef   6.250   1/22/2021   EUR   73.100
Societe Generale Ef  12.000   1/22/2021   EUR   62.560
Societe Generale Ef  13.000   1/22/2021   EUR   62.020
Societe Generale Ef  14.000   1/22/2021   EUR   61.510
Societe Generale Ef  14.750   8/28/2020   EUR   65.840
Societe Generale Ef   5.500   9/25/2020   EUR   74.310
Societe Generale Ef   7.500   9/25/2020   EUR   71.630
Societe Generale Ef  11.500   9/25/2020   EUR   68.050
Zurcher Kantonalban   6.000   8/24/2021   EUR   71.480
Vontobel Financial   20.450   8/20/2020   USD   73.780
Credit Suisse AG/Lo   7.500   06/04/2020  CHF   67.310
Landesbank Baden-Wu   5.000   3/26/2021   EUR   70.010
Landesbank Baden-Wu   6.000   3/26/2021   EUR   70.500
Landesbank Baden-Wu   3.000   3/26/2021   EUR   52.970
Landesbank Baden-Wu   4.500   3/26/2021   EUR   49.410
Landesbank Baden-Wu   4.000   3/26/2021   EUR   65.680
Landesbank Baden-Wu   4.500   3/26/2021   EUR   42.160
Landesbank Baden-Wu   4.000   3/26/2021   EUR   60.240
Landesbank Baden-Wu   8.000   9/24/2021   EUR   70.910
Landesbank Baden-Wu   3.000   3/26/2021   EUR   63.040
Landesbank Baden-Wu   3.500   3/26/2021   EUR   59.300
Landesbank Baden-Wu   4.500   3/26/2021   EUR   56.900
Vontobel Financial    9.500   06/12/2020  EUR   58.390
Vontobel Financial   15.500   06/12/2020  EUR   40.570
Vontobel Financial   17.000   06/12/2020  EUR   56.330
Vontobel Financial   10.500   06/12/2020  EUR   69.840
Vontobel Financial    9.000   06/12/2020  EUR   63.360
DZ Bank AG Deutsche   8.200   3/24/2021   EUR
DZ Bank AG Deutsche   8.500   9/23/2020   EUR   47.030
DZ Bank AG Deutsche   5.700   9/23/2020   EUR   70.900
DZ Bank AG Deutsche   6.900   9/23/2020   EUR
DZ Bank AG Deutsche   5.400   3/24/2021   EUR
DZ Bank AG Deutsche  10.500   9/23/2020   EUR
EFG International F   7.000   03/07/2022  CHF   66.370
DZ Bank AG Deutsche   9.500   3/24/2021   EUR
UBS AG/London        11.000   09/07/2020  EUR   40.200
UBS AG/London         4.500   09/07/2020  CHF   69.450
Societe Generale Ef  18.250   8/28/2020   EUR   64.860
Societe Generale Ef  18.500   9/25/2020   EUR   64.620
Societe Generale Ef  11.250  10/23/2020   EUR   68.910
Erste Group Bank AG   8.250   3/29/2024   EUR   64.550
Societe Generale Ef  10.500  10/23/2020   EUR   61.590
Societe Generale Ef  14.500  11/27/2020   EUR   59.740
Societe Generale Ef  11.500  10/23/2020   EUR   69.750
UBS AG/London         5.400  12/28/2020   EUR   46.980
Societe Generale Ef  11.500  12/28/2020   EUR   68.820
UBS AG/London         3.900   6/25/2020   EUR   49.250
Societe Generale Ef  17.250  10/23/2020   EUR   65.380
UBS AG/London         4.500   9/24/2020   EUR   71.040
Zurcher Kantonalban   7.000   09/03/2021  CHF   70.430
Zurcher Kantonalban   6.000   06/08/2020  EUR   61.780
Credit Suisse AG/Lo   7.000   09/02/2020  USD   53.590
Landesbank Hessen-T   4.000   04/12/2023  EUR   70.810
Landesbank Hessen-T   4.000   04/12/2023  EUR   56.530
DZ Bank AG Deutsche   5.000   6/22/2020   EUR   51.800
DZ Bank AG Deutsche   3.900   6/22/2020   EUR   59.750
Leonteq Securities    7.500   03/11/2021  CHF   55.480
DZ Bank AG Deutsche   5.000   6/24/2020   EUR   69.020
DekaBank Deutsche G   2.900   04/08/2022  EUR   68.920
DekaBank Deutsche G   2.500   04/09/2021  EUR   51.510
DekaBank Deutsche G   3.100   04/08/2022  EUR   62.880
DekaBank Deutsche G   3.300   04/08/2022  EUR   47.320
Bank Julius Baer &   10.800   06/12/2020  CHF   57.650
Raiffeisen Schweiz    6.400   09/08/2021  CHF   69.700
Raiffeisen Schweiz    7.200   09/08/2020  CHF   66.090
Zurcher Kantonalban   6.250   3/19/2021   CHF   68.270
Zurcher Kantonalban   6.500   3/19/2021   EUR   64.710
Credit Suisse AG/Lo   8.000   06/12/2020  EUR   54.810
Deutsche Bank AG      3.200   9/22/2020   EUR   58.900
Goldman Sachs & Co   13.000   3/24/2021   EUR   60.670
HSBC Trinkaus & Bur   3.000   08/10/2020  EUR   60.170
UBS AG/London         5.000   3/15/2021   CHF   67.850
UBS AG/London         8.000   3/15/2021   EUR   37.900
UBS AG/London        11.000   3/15/2021   CHF   73.150
UBS AG/London         8.000   3/15/2021   CHF   68.900
Landesbank Baden-Wu   3.250   8/27/2021   EUR   52.830
UBS AG/London         7.000   3/15/2021   EUR   53.000
Leonteq Securities    5.000   9/13/2021   CHF   54.710
Deutsche Bank AG      3.200   6/23/2020   EUR   63.350
Deutsche Bank AG      3.200   9/22/2020   EUR   49.790
UniCredit Bank AG     4.050   10/09/2020  EUR   72.930
UBS AG/London        10.000   09/07/2020  CHF   32.900
UBS AG/London        10.000   09/07/2020  EUR   60.900
Raiffeisen Schweiz   12.900   9/14/2020   GBP   52.710
Credit Suisse AG/Lo   5.750   01/03/2022  CHF   69.570
Zurcher Kantonalban   5.000   07/02/2021  CHF   68.950
Vontobel Financial   15.000   09/11/2020  EUR   64.240
Vontobel Financial   13.500   06/12/2020  EUR   57.570
Vontobel Financial   15.000   06/12/2020  EUR   56.160
Vontobel Financial   15.000   06/12/2020  EUR   57.840
Vontobel Financial    8.000   09/11/2020  EUR   65.330
Vontobel Financial   13.000   06/12/2020  EUR   45.220
Vontobel Financial    9.500   06/12/2020  EUR   44.290
Vontobel Financial   13.000   06/12/2020  EUR   61.620
UBS AG/London         5.750   07/03/2020  CHF   65.400
Vontobel Financial   12.350   9/18/2020   EUR   59.200
Vontobel Financial    7.650   09/11/2020  EUR   65.230
Zurcher Kantonalban   8.500   07/10/2020  CHF   51.950
Zurcher Kantonalban   7.000   07/10/2020  CHF   66.430
Zurcher Kantonalban   6.000   07/12/2021  CHF   60.390
Vontobel Financial    5.500   6/26/2020   EUR   65.500
Vontobel Financial    7.000   6/26/2020   EUR   61.200
Vontobel Financial   17.000   6/26/2020   EUR   46.630
Vontobel Financial   13.500   6/26/2020   EUR   60.280
Vontobel Financial    8.000   6/26/2020   EUR   61.850
Vontobel Financial   12.500   6/26/2020   EUR   56.310
UniCredit Bank AG     5.100  12/19/2020   EUR   55.650
UniCredit Bank AG     5.900  12/19/2020   EUR   27.030
Landesbank Hessen-T   4.400   01/05/2023  EUR   38.460
EFG International F   7.000   5/23/2022   EUR   44.990
Credit Suisse AG/Lo   7.000   5/20/2021   CHF   73.820
Credit Suisse AG/Lo   8.750   5/20/2021   GBP   62.610
Landesbank Baden-Wu   5.000   3/26/2021   EUR   72.800
Landesbank Baden-Wu   9.000   3/26/2021   EUR   73.030
Landesbank Baden-Wu   4.000   9/24/2021   EUR   72.550
Landesbank Baden-Wu   7.500   3/26/2021   EUR   73.580
Landesbank Baden-Wu   6.000   3/26/2021   EUR   47.570
Landesbank Baden-Wu   5.000   3/26/2021   EUR   50.790
Raiffeisen Switzerl   8.500   8/24/2021   EUR   72.100
Leonteq Securities    8.130   2/21/2022   EUR   64.800
Landesbank Baden-Wu   3.000   3/26/2021   EUR   62.700
Landesbank Baden-Wu   5.000   3/26/2021   EUR   53.760
Landesbank Baden-Wu   2.500   3/26/2021   EUR   70.590
Leonteq Securities    4.000   2/21/2022   EUR   69.790
Leonteq Securities    5.700   2/21/2022   CHF   62.000
Landesbank Baden-Wu   2.500   3/26/2021   EUR   62.220
Landesbank Baden-Wu   5.000   3/26/2021   EUR   57.580
Landesbank Baden-Wu   3.000   3/26/2021   EUR   61.020
Corner Banca SA      12.800   8/24/2021   CHF   60.770
Vontobel Financial   14.000   06/12/2020  EUR   50.200
Vontobel Financial   13.000   06/12/2020  EUR   61.310
Vontobel Financial    8.500   06/12/2020  EUR   67.850
Vontobel Financial   11.500   06/12/2020  EUR   63.100
Vontobel Financial    6.500   06/12/2020  EUR   68.150
Vontobel Financial   11.500   06/12/2020  EUR   59.210
DZ Bank AG Deutsche   9.200  12/23/2020   EUR   64.420
DZ Bank AG Deutsche   7.900   3/24/2021   EUR   66.490
DZ Bank AG Deutsche   8.500   3/24/2021   EUR   66.140
DZ Bank AG Deutsche   6.200   9/23/2020   EUR
DZ Bank AG Deutsche   5.200  12/23/2020   EUR
DZ Bank AG Deutsche   4.500   3/24/2021   EUR
DZ Bank AG Deutsche   7.800  12/23/2020   EUR   48.850
DZ Bank AG Deutsche   6.700   6/23/2021   EUR   51.110
DZ Bank AG Deutsche   6.100  12/23/2020   EUR
DZ Bank AG Deutsche   5.000   6/23/2021   EUR
UBS AG/London         5.000   03/08/2021  CHF   67.700
Societe Generale Ef   8.500   9/25/2020   EUR   71.500
Societe Generale Ef  16.500   9/25/2020   EUR   65.620
Societe Generale Ef   7.250  10/23/2020   EUR   72.750
Societe Generale Ef  16.500   9/25/2020   EUR   57.850
Societe Generale Ef  10.500  11/27/2020   EUR   70.430
Societe Generale Ef  15.500  12/28/2020   EUR   66.710
UBS AG/London         6.600   6/25/2020   EUR   64.180
Societe Generale Ef  14.250   8/28/2020   EUR   67.030
Societe Generale Ef  14.250  11/27/2020   EUR   67.050
UBS AG/London         6.700  12/28/2020   EUR   44.890
UBS AG/London         7.400  12/28/2020   EUR   43.920
Leonteq Securities    5.000   03/08/2021  CHF   70.110
DekaBank Deutsche G   2.500  10/24/2023   EUR   55.580
EFG International F   5.400   9/27/2021   CHF   71.190
UBS AG/London         7.500   9/14/2020   CHF   66.700
UniCredit Bank AG     5.900   10/05/2021  EUR   55.380
Leonteq Securities    6.000   9/27/2021   CHF   68.780
Raiffeisen Schweiz    7.000   9/21/2020   CHF   65.390
Vontobel Financial    3.950   9/14/2020   EUR   62.370
UniCredit Bank AG     3.450   9/14/2022   EUR   53.460
UniCredit Bank AG     4.200   10/09/2020  EUR   63.650
UniCredit Bank AG     6.300   10/09/2020  EUR   72.310
HSBC Trinkaus & Bur   4.300   9/25/2020   EUR   51.680
HSBC Trinkaus & Bur   6.700   9/25/2020   EUR   46.220
UniCredit Bank AG     5.500  10/26/2021   EUR   57.160
Landesbank Baden-Wu   2.300  12/27/2021   EUR   68.520
Landesbank Baden-Wu   3.150  12/27/2021   EUR   67.070
Skandinaviska Enski   4.000   7/17/2023   SEK   59.720
Landesbank Baden-Wu   3.050   9/23/2022   EUR   55.770
Raiffeisen Centroba   8.699   9/23/2020   EUR   61.550
Credit Suisse AG/Lo   8.000   6/29/2020   CHF   67.870
Raiffeisen Schweiz    7.500   9/29/2020   CHF   30.450
Leonteq Securities    5.800   3/29/2021   CHF   52.590
Raiffeisen Schweiz    5.400   9/29/2021   CHF   71.240
Raiffeisen Schweiz    6.200   3/29/2021   CHF   68.370
Vontobel Financial    4.150   6/19/2020   EUR   40.100
Vontobel Financial    6.500   6/19/2020   USD   69.380
Vontobel Financial    5.450   8/24/2020   EUR   65.150
Vontobel Financial   15.000   06/12/2020  EUR   67.050
DekaBank Deutsche G   3.000   4/14/2022   EUR   72.130
Landesbank Baden-Wu   5.000   7/24/2020   EUR   51.380
Landesbank Baden-Wu   3.500  12/29/2020   EUR   53.850
Banque Cantonale Va   8.000   9/29/2020   CHF   70.090
Vontobel Financial    6.100   6/19/2020   EUR   47.360
Vontobel Financial    4.900   6/19/2020   EUR   72.700
Deutsche Bank AG      8.200   6/23/2020   EUR   53.520
Deutsche Bank AG      8.200  12/22/2020   EUR   55.090
Societe Generale Ef   3.250   7/24/2020   EUR   60.270
Societe Generale Ef   4.250   7/24/2020   EUR   57.530
Societe Generale Ef   5.250   7/24/2020   EUR   55.530
Societe Generale Ef   6.250   7/24/2020   EUR   53.920
Societe Generale Ef   7.250   7/24/2020   EUR   52.580
Societe Generale Ef   3.750   7/24/2020   EUR   64.730
Societe Generale Ef   5.750   7/24/2020   EUR   59.800
Societe Generale Ef   7.750   7/24/2020   EUR   56.410
Societe Generale Ef   8.500   7/24/2020   EUR   67.610
Societe Generale Ef  12.750   7/24/2020   EUR   69.860
Societe Generale Ef   7.500   7/24/2020   EUR   63.470
Societe Generale Ef   9.500   7/24/2020   EUR   60.290
Societe Generale Ef  11.500   7/24/2020   EUR   57.960
Societe Generale Ef   4.250   7/24/2020   EUR   49.130
Societe Generale Ef   8.250   7/24/2020   EUR   42.620
Societe Generale Ef  10.250   7/24/2020   EUR   40.590
Societe Generale Ef  12.250   7/24/2020   EUR   38.920
Societe Generale Ef   5.250   7/24/2020   EUR   73.640
Societe Generale Ef   6.250   7/24/2020   EUR   71.490
Goldman Sachs & Co   10.000   6/24/2020   EUR   61.980
Goldman Sachs & Co   19.000   6/24/2020   EUR   46.790
Goldman Sachs & Co   17.000  12/23/2020   EUR   52.820
Goldman Sachs & Co   10.000   3/24/2021   EUR   62.760
Goldman Sachs & Co   15.000   3/24/2021   EUR   55.320
Goldman Sachs & Co   15.000   6/24/2020   EUR   60.590
Goldman Sachs & Co   13.000   9/23/2020   EUR   62.410
Goldman Sachs & Co    8.000  12/23/2020   EUR   71.100
Societe Generale Ef  12.250   7/24/2020   EUR   57.490
Goldman Sachs & Co    5.000   6/24/2020   EUR   60.140
Goldman Sachs & Co    7.000   6/24/2020   EUR   56.690
Goldman Sachs & Co    8.000   6/24/2020   EUR   53.500
Goldman Sachs & Co   20.000   6/24/2020   EUR   40.720
Goldman Sachs & Co    4.000   9/23/2020   EUR   63.110
Goldman Sachs & Co    5.000   9/23/2020   EUR   59.640
Goldman Sachs & Co    6.000   9/23/2020   EUR   56.500
Goldman Sachs & Co    8.000   9/23/2020   EUR   54.070
Goldman Sachs & Co   15.000  12/23/2020   EUR   46.280
Societe Generale Ef   5.750   7/24/2020   EUR   71.220
Goldman Sachs & Co    6.000   3/24/2021   EUR   58.770
Goldman Sachs & Co    7.000   3/24/2021   EUR   56.740
Goldman Sachs & Co   10.000   3/24/2021   EUR   52.020
Societe Generale Ef  16.750   7/24/2020   EUR   65.660
Goldman Sachs & Co   14.000  12/23/2020   EUR   72.330
Goldman Sachs & Co   13.000   3/24/2021   EUR   69.880
DZ Bank AG Deutsche   5.330   7/24/2020   EUR   56.650
Vontobel Financial   19.500   06/12/2020  EUR   44.110
Credit Suisse AG/Lo   8.500   07/02/2020  EUR   67.140
Vontobel Financial    8.000   06/12/2020  EUR   50.700
Landesbank Baden-Wu   5.500   9/25/2020   EUR   57.490
Landesbank Baden-Wu   4.000   9/25/2020   EUR   64.390
Landesbank Baden-Wu   5.000   9/25/2020   EUR   53.780
Landesbank Baden-Wu   7.000   9/25/2020   EUR   50.680
Landesbank Baden-Wu   6.000   9/25/2020   EUR   39.780
Landesbank Baden-Wu   6.500   9/25/2020   EUR   55.130
Landesbank Baden-Wu   5.000   9/25/2020   EUR   60.900
Landesbank Baden-Wu   6.000   9/25/2020   EUR   58.580
Landesbank Baden-Wu   7.000   9/25/2020   EUR   56.460
Landesbank Baden-Wu   5.000  10/23/2020   EUR   71.380
Landesbank Baden-Wu   6.000   9/25/2020   EUR   73.950
Landesbank Baden-Wu   6.000   9/25/2020   EUR   54.120
Landesbank Baden-Wu   3.000   9/25/2020   EUR   66.240
Landesbank Baden-Wu   7.000   9/25/2020   EUR   54.910
Landesbank Baden-Wu   3.000   9/25/2020   EUR   62.560
Landesbank Baden-Wu   3.000   9/25/2020   EUR   59.160
Landesbank Baden-Wu   7.000   9/25/2020   EUR   49.640
Landesbank Baden-Wu   5.500   9/25/2020   EUR   61.350
Landesbank Baden-Wu   5.000   9/25/2020   EUR   58.940
Landesbank Baden-Wu   5.000   9/25/2020   EUR   54.800
Vontobel Financial    8.500   9/25/2020   EUR   66.450
Goldman Sachs & Co   10.000   9/23/2020   EUR   71.750
Goldman Sachs & Co    9.000   6/24/2020   EUR   65.600
Goldman Sachs & Co   20.000   6/24/2020   EUR   48.730
Goldman Sachs & Co    7.000   9/23/2020   EUR   65.350
Goldman Sachs & Co   19.000   9/23/2020   EUR   49.950
Goldman Sachs & Co    6.000  12/23/2020   EUR   62.360
Goldman Sachs & Co    6.000   3/24/2021   EUR   65.620
Goldman Sachs & Co    7.000   6/24/2020   EUR   60.860
Goldman Sachs & Co    9.000   6/24/2020   EUR   55.510
Goldman Sachs & Co    4.000   9/23/2020   EUR   73.510
Goldman Sachs & Co    7.000   9/23/2020   EUR   61.760
Goldman Sachs & Co    4.000  12/23/2020   EUR   72.200
Goldman Sachs & Co    5.000  12/23/2020   EUR   66.760
Goldman Sachs & Co    7.000  12/23/2020   EUR   59.970
Goldman Sachs & Co    8.000  12/23/2020   EUR   58.220
Societe Generale Ef   3.000   6/26/2020   EUR   66.160
Raiffeisen Schweiz    7.000   7/26/2021   AUD   57.100
Vontobel Financial    7.000   9/25/2020   EUR   64.880
Vontobel Financial   16.500   6/26/2020   EUR   46.930
UBS AG/London         9.000   04/06/2021  CHF   73.450
Credit Suisse AG/Lo   4.000   05/05/2023  EUR   71.870
Deutsche Bank AG      6.200  12/22/2020   EUR   72.100
Societe Generale Ef  14.250   6/26/2020   EUR   68.090
Societe Generale Ef   3.500   6/26/2020   EUR   72.140
Societe Generale Ef   5.500   6/26/2020   EUR   66.240
Societe Generale Ef  13.750   6/26/2020   EUR   62.440
Landesbank Baden-Wu   4.300   9/25/2020   EUR   69.930
Societe Generale Ef   7.750   6/26/2020   EUR   71.110
Societe Generale Ef  11.750   6/26/2020   EUR   64.740
Societe Generale Ef  12.750   6/26/2020   EUR   69.890
Societe Generale Ef  12.000   6/26/2020   EUR   68.740
Societe Generale Ef  10.000   6/26/2020   EUR   55.090
UBS AG/London        11.000   2/19/2021   CHF   53.550
Societe Generale Ef  12.500   6/26/2020   EUR   74.680
UBS AG/London         9.000   2/19/2021   CHF   70.400
UBS AG/London        10.750   8/19/2021   CHF   70.450
UBS AG/London        12.000   8/19/2021   CHF   62.650
Banque Cantonale Va   6.100   08/09/2021  EUR   56.330
UniCredit Bank AG    12.200   9/25/2020   EUR   61.420
UniCredit Bank AG    14.400   3/26/2021   EUR   61.950
UniCredit Bank AG     8.500   6/26/2020   EUR   69.010
UniCredit Bank AG     6.200   6/26/2020   EUR   60.770
UniCredit Bank AG    14.200   6/26/2020   EUR   66.330
UniCredit Bank AG    12.100  12/24/2021   EUR   61.880
UniCredit Bank AG    13.400  12/24/2021   EUR   72.890
UniCredit Bank AG     8.900   9/25/2020   EUR   64.270
UniCredit Bank AG    12.300   3/26/2021   EUR   63.040
UniCredit Bank AG    11.900  12/24/2021   EUR   63.870
Corner Banca SA       9.000   11/09/2020  CHF   71.760
Leonteq Securities   10.000   08/09/2021  CHF   42.570
Leonteq Securities   10.400   11/09/2020  CHF   69.850
Leonteq Securities   10.800   08/09/2021  USD   71.720
Leonteq Securities   15.500   11/09/2020  CHF   50.660
Landesbank Baden-Wu   3.050   9/23/2022   EUR   61.840
Raiffeisen Schweiz    7.500   02/09/2021  EUR   64.890
Raiffeisen Schweiz    5.200   02/09/2021  CHF   63.540
Raiffeisen Schweiz    5.600   08/09/2022  CHF   64.060
Societe Generale Ef   3.500   6/26/2020   EUR   55.970
Societe Generale Ef  15.750   6/26/2020   EUR   57.810
Societe Generale Ef  10.500   7/24/2020   EUR   69.840
Societe Generale Ef  12.500   7/24/2020   EUR   67.110
Societe Generale Ef  14.250   7/24/2020   EUR   73.500
Societe Generale Ef  16.250   7/24/2020   EUR   70.270
Societe Generale Ef  13.000   7/24/2020   EUR   57.170
Societe Generale Ef   6.500   6/26/2020   EUR   61.090
Societe Generale Ef   4.000   7/24/2020   EUR   65.730
Societe Generale Ef  10.250   7/24/2020   EUR   48.870
Vontobel Financial   15.000   9/25/2020   EUR   71.840
Vontobel Financial   17.000   9/25/2020   EUR   58.980
Vontobel Financial   19.500   9/25/2020   EUR   56.980
Vontobel Financial   11.500   6/26/2020   EUR   70.910
Vontobel Financial   17.000   6/26/2020   EUR   62.520
Vontobel Financial   18.500   6/26/2020   EUR   60.700
Vontobel Financial   20.000   6/26/2020   EUR   58.970
Vontobel Financial    9.500   9/25/2020   EUR   67.750
Vontobel Financial    8.500   9/25/2020   EUR   69.130
Vontobel Financial   10.500   9/25/2020   EUR   66.390
Vontobel Financial   14.500   9/25/2020   EUR   61.180
Vontobel Financial   16.000   9/25/2020   EUR   60.140
Vontobel Financial   11.500   9/25/2020   EUR   65.040
Vontobel Financial   18.000   9/25/2020   EUR   57.820
Vontobel Financial   10.000   6/26/2020   EUR   73.260
Vontobel Financial   13.000   6/26/2020   EUR   68.670
Vontobel Financial   14.000   6/26/2020   EUR   66.480
Vontobel Financial   15.500   6/26/2020   EUR   64.460
Societe Generale Ef   7.500   6/26/2020   EUR   62.190
Societe Generale Ef   9.500   6/26/2020   EUR   59.130
Societe Generale Ef  11.500   6/26/2020   EUR   56.680
Landesbank Baden-Wu   4.000   9/25/2020   EUR   71.240
Landesbank Baden-Wu   8.500   9/25/2020   EUR   65.240
HSBC Trinkaus & Bur   2.420   8/28/2020   EUR   58.870
Landesbank Baden-Wu   3.900   8/28/2020   EUR   48.740
DZ Bank AG Deutsche   8.000   9/21/2020   EUR   61.890
DZ Bank AG Deutsche   6.600   9/21/2020   EUR   72.210
DZ Bank AG Deutsche   9.300   9/21/2020   EUR   69.870
DZ Bank AG Deutsche  10.700   9/21/2020   EUR   67.330
DZ Bank AG Deutsche   9.200  12/21/2020   EUR   67.260
DZ Bank AG Deutsche   9.000   6/24/2020   EUR   71.620
DekaBank Deutsche G   7.800   09/11/2020  EUR   63.260
Societe Generale Ef   6.000   7/24/2020   EUR   62.600
Societe Generale Ef  10.000   7/24/2020   EUR   63.160
Societe Generale Ef   8.500   6/26/2020   EUR   64.710
Societe Generale Ef  10.500   6/26/2020   EUR   62.590
Societe Generale Ef   8.000   7/24/2020   EUR   65.190
Landesbank Hessen-T   6.250  12/13/2024   EUR   55.330
Landesbank Baden-Wu   4.200  12/27/2021   EUR   69.860
Landesbank Baden-Wu   2.500  12/27/2021   EUR   70.900
BNP Paribas Emissio   3.000   9/24/2020   EUR   66.420
Societe Generale Ef   8.250   7/24/2020   EUR   51.440
Societe Generale Ef  11.750   7/24/2020   EUR   51.800
Societe Generale Ef  15.500   6/26/2020   EUR   68.670
Societe Generale Ef   9.500   7/24/2020   EUR   66.230
Societe Generale Ef   9.500   7/24/2020   EUR   71.700
Societe Generale Ef   5.500   7/24/2020   EUR   67.370
Societe Generale Ef   6.250   7/24/2020   EUR   45.320
Goldman Sachs & Co    7.000   6/24/2020   EUR   68.850
Societe Generale Ef   8.250   7/24/2020   EUR   67.970
Societe Generale Ef   9.250   7/24/2020   EUR   66.560
Goldman Sachs & Co   14.000   6/24/2020   EUR   53.200
Goldman Sachs & Co   21.000   6/24/2020   EUR   44.680
Goldman Sachs & Co    8.000   9/23/2020   EUR   67.820
Goldman Sachs & Co    9.000   9/23/2020   EUR   63.860
Goldman Sachs & Co   14.000   9/23/2020   EUR   53.730
Goldman Sachs & Co    7.000  12/23/2020   EUR   70.370
Goldman Sachs & Co    7.000  12/23/2020   EUR   68.290
Goldman Sachs & Co   10.000  12/23/2020   EUR   62.430
Goldman Sachs & Co   10.000  12/23/2020   EUR   60.750
Goldman Sachs & Co   15.000  12/23/2020   EUR   55.080
Goldman Sachs & Co    7.000   3/24/2021   EUR   69.010
Goldman Sachs & Co    8.000   6/24/2020   EUR   72.080
Goldman Sachs & Co    8.000   9/23/2020   EUR   72.250
Societe Generale Ef  16.250   7/24/2020   EUR   55.830
Goldman Sachs & Co    7.000  12/23/2020   EUR   72.930
Goldman Sachs & Co    9.000  12/23/2020   EUR   69.370
Goldman Sachs & Co   15.000  12/23/2020   EUR   61.340
Goldman Sachs & Co    8.000   3/24/2021   EUR   70.720
Societe Generale Ef  14.250   7/24/2020   EUR   55.150
Goldman Sachs & Co    3.000   6/24/2020   EUR   68.870
Goldman Sachs & Co    4.000   6/24/2020   EUR   64.230
Goldman Sachs & Co   10.000   6/24/2020   EUR   50.760
Goldman Sachs & Co   14.000   6/24/2020   EUR   46.120
Goldman Sachs & Co    2.000   9/23/2020   EUR   71.150
Goldman Sachs & Co    3.000   9/23/2020   EUR   66.980
Goldman Sachs & Co    3.000  12/23/2020   EUR   69.510
Goldman Sachs & Co    4.000  12/23/2020   EUR   62.370
Societe Generale Ef   6.750   7/24/2020   EUR   69.250
Societe Generale Ef   7.500   7/24/2020   EUR   73.140
Societe Generale Ef  14.750   7/24/2020   EUR   68.770
Societe Generale Ef  18.750   7/24/2020   EUR   62.920
Landesbank Baden-Wu   3.100   6/26/2020   USD   69.080
Vontobel Financial    7.000   6/19/2020   USD   61.450
Goldman Sachs & Co   16.000   9/23/2020   EUR   69.610
Societe Generale Ef  11.000   7/24/2020   EUR   63.340
Societe Generale Ef   6.000   7/24/2020   EUR   60.430
Societe Generale Ef   8.000   7/24/2020   EUR   58.060
Societe Generale Ef   9.000   7/24/2020   EUR   57.120
Goldman Sachs & Co   15.000   6/24/2020   EUR   70.740
Raiffeisen Centroba   5.750   05/06/2021  EUR   66.560
Vontobel Financial    6.000   06/12/2020  EUR   60.430
Vontobel Financial   11.500   06/12/2020  EUR   45.740
Vontobel Financial   16.000   06/12/2020  EUR   41.720
Landesbank Baden-Wu   8.000   9/25/2020   EUR   62.670
Landesbank Baden-Wu   3.500   9/25/2020   EUR   59.290
Landesbank Baden-Wu   8.000   9/25/2020   EUR   61.400
Landesbank Baden-Wu   3.000   9/25/2020   EUR   45.310
Landesbank Baden-Wu   4.500   9/25/2020   EUR   42.070
Landesbank Baden-Wu   3.500   9/25/2020   EUR   62.210
Landesbank Baden-Wu   8.000   9/25/2020   EUR   59.050
Leonteq Securities    5.800   7/26/2021   CHF   60.400
Landesbank Baden-Wu   4.500   9/25/2020   EUR   56.910
Landesbank Baden-Wu   5.000   9/25/2020   EUR   53.590
Landesbank Baden-Wu   4.000   9/25/2020   EUR   68.980
Landesbank Baden-Wu   6.500   9/25/2020   EUR   60.470
Landesbank Baden-Wu   3.000   9/25/2020   EUR   57.360
BNP Paribas Emissio   6.000   6/25/2020   EUR   46.510
Vontobel Financial   14.000   9/25/2020   EUR   68.170
Goldman Sachs & Co   12.000   6/24/2020   EUR   67.890
Goldman Sachs & Co   15.000   9/23/2020   EUR   63.730
Goldman Sachs & Co   18.000   9/23/2020   EUR   60.750
Goldman Sachs & Co   10.000  12/23/2020   EUR   71.070
Goldman Sachs & Co    9.000   3/24/2021   EUR   72.160
Goldman Sachs & Co   22.000   6/24/2020   EUR   46.710
Goldman Sachs & Co    6.000   9/23/2020   EUR   67.650
Goldman Sachs & Co    4.000  12/23/2020   EUR   69.550
Goldman Sachs & Co    6.000  12/23/2020   EUR   64.610
Goldman Sachs & Co    7.000  12/23/2020   EUR   60.760
Goldman Sachs & Co   15.000  12/23/2020   EUR   52.410
Goldman Sachs & Co    4.000   3/24/2021   EUR   69.770
Goldman Sachs & Co    4.000   3/24/2021   EUR   67.390
Goldman Sachs & Co    6.000   3/24/2021   EUR   63.480
Goldman Sachs & Co   10.000   3/24/2021   EUR   59.900
Goldman Sachs & Co   17.000   3/24/2021   EUR   54.950
Goldman Sachs & Co    5.000   6/24/2020   EUR   70.450
Goldman Sachs & Co   10.000   9/23/2020   EUR   55.260
Goldman Sachs & Co   15.000   9/23/2020   EUR   47.660
Goldman Sachs & Co   16.000   9/23/2020   EUR   46.500
Goldman Sachs & Co    4.000  12/23/2020   EUR   68.540
Vontobel Financial    9.500   9/25/2020   EUR   64.400
Goldman Sachs & Co    4.000   3/24/2021   EUR   71.590
Goldman Sachs & Co    5.000   3/24/2021   EUR   66.760
Goldman Sachs & Co    6.000   3/24/2021   EUR   62.450
Goldman Sachs & Co    8.000   3/24/2021   EUR   59.500
Goldman Sachs & Co   13.000   3/24/2021   EUR   52.890
Raiffeisen Schweiz    6.700   7/26/2021   EUR   72.060
Leonteq Securities    4.100   7/29/2020   CHF   62.410
EFG International F   5.750   04/04/2022  CHF   72.560
Deutsche Bank AG      6.200  12/22/2020   EUR   68.900
Bank Julius Baer &    9.700   7/29/2020   CHF   40.850
DZ Bank AG Deutsche   7.000   6/22/2020   EUR   71.740
DZ Bank AG Deutsche   4.750   9/21/2020   EUR   72.710
DZ Bank AG Deutsche   5.500   9/21/2020   EUR   66.660
DZ Bank AG Deutsche   4.750   9/21/2020   EUR   54.890
DZ Bank AG Deutsche   6.250   9/21/2020   EUR   63.000
DZ Bank AG Deutsche   7.000   9/21/2020   EUR   57.310
DZ Bank AG Deutsche   4.750   9/21/2020   EUR   40.100
DZ Bank AG Deutsche   8.000   6/22/2020   EUR   65.030
DZ Bank AG Deutsche   7.250   9/21/2020   EUR   61.660
DZ Bank AG Deutsche   7.100   6/22/2020   EUR   69.360
DZ Bank AG Deutsche   5.800   9/21/2020   EUR   70.840
DZ Bank AG Deutsche   6.500   9/21/2020   EUR   69.700
DZ Bank AG Deutsche   5.500   9/21/2020   EUR   42.890
DZ Bank AG Deutsche   6.500   9/21/2020   EUR   41.770
DZ Bank AG Deutsche   9.100   9/21/2020   EUR   68.840
DZ Bank AG Deutsche  10.500   9/21/2020   EUR   66.150
Deutsche Bank AG      6.200   9/22/2020   EUR   64.050
Deutsche Bank AG      6.200   9/22/2020   EUR   60.160
Deutsche Bank AG      6.200  12/22/2020   EUR   63.770
Erste Group Bank AG   6.000   4/29/2024   EUR   63.000
DekaBank Deutsche G   4.100   4/30/2021   EUR   61.420
Societe Generale Ef  16.750   6/26/2020   EUR   52.540
Banque Cantonale Va   4.500   3/29/2021   CHF   52.900
Bank Julius Baer &    5.700   7/30/2020   CHF   53.550
Zurcher Kantonalban   6.500   08/06/2021  CHF   67.480
Zurcher Kantonalban  10.750   08/06/2021  USD   72.290
Goldman Sachs & Co   11.000   6/24/2020   EUR   70.400
Raiffeisen Centroba  10.181   6/23/2020   EUR   53.120
Landesbank Baden-Wu   7.750   1/22/2021   EUR   68.350
Landesbank Baden-Wu   3.000   1/22/2021   EUR   65.450
Landesbank Baden-Wu   8.500   1/22/2021   EUR   68.200
UBS AG/London         5.500   9/24/2020   EUR   56.590
UBS AG/London        10.400   9/24/2020   EUR   57.130
Landesbank Baden-Wu   5.750   1/22/2021   EUR   65.770
Landesbank Baden-Wu   5.000   2/26/2021   EUR   67.200
Landesbank Baden-Wu   8.000   1/22/2021   EUR   65.260
Landesbank Baden-Wu   6.250   1/22/2021   EUR   66.680
Landesbank Baden-Wu   5.000   7/22/2022   EUR   69.510
Landesbank Baden-Wu   2.000   1/22/2021   EUR   66.560
Landesbank Baden-Wu   2.000   1/22/2021   EUR   55.900
Landesbank Baden-Wu   4.000   1/22/2021   EUR   58.950
Landesbank Baden-Wu   5.750   1/22/2021   EUR   55.770
BNP Paribas Emissio   9.500   9/24/2020   EUR   74.280
Landesbank Baden-Wu   4.400   1/22/2021   EUR   68.840
Landesbank Baden-Wu   7.000   1/22/2021   EUR   64.270
Landesbank Baden-Wu   2.750   1/22/2021   EUR   50.210
Landesbank Baden-Wu   6.500   1/22/2021   EUR   43.990
Landesbank Baden-Wu   4.000   1/22/2021   EUR   56.320
BNP Paribas Emissio  10.000   9/24/2020   EUR   73.800
BNP Paribas Emissio  12.000   9/24/2020   EUR   71.120
Landesbank Baden-Wu   2.000   1/22/2021   EUR   72.410
EFG International F   8.400  10/30/2020   EUR   69.380
Leonteq Securities   23.440   03/09/2021  CHF   27.980
UBS AG/London        21.900  12/28/2020   EUR   66.860
UBS AG/London        11.200   3/25/2021   EUR   66.970
UBS AG/London         9.200  12/28/2020   EUR   59.030
UBS AG/London         8.400   3/25/2021   EUR   73.380
UBS AG/London         8.600   3/25/2021   EUR   70.610
UBS AG/London         3.300   3/25/2021   EUR   69.480
UBS AG/London         7.000   6/24/2021   EUR   56.890
UBS AG/London         7.600   3/25/2021   EUR   56.580
UBS AG/London        11.300   3/25/2021   EUR   66.230
UBS AG/London         5.900  12/28/2020   EUR   73.740
UBS AG/London         5.500   3/25/2021   EUR   60.570
UBS AG/London         4.900   3/25/2021   EUR   69.840
UBS AG/London         7.200   3/25/2021   EUR   66.940
UBS AG/London        13.700   9/24/2020   EUR   58.240
UBS AG/London         8.400   3/25/2021   EUR   72.100
UBS AG/London        25.200   9/24/2020   EUR   59.140
UBS AG/London         7.100   9/23/2021   EUR   56.840
UBS AG/London         8.600   3/25/2021   EUR   71.130
UBS AG/London        12.400  12/28/2020   EUR   64.690
UBS AG/London        11.200  12/28/2020   EUR   72.760
UBS AG/London        13.400  12/28/2020   EUR   71.650
UBS AG/London         2.500   3/25/2021   EUR   64.870
UBS AG/London         7.400   6/24/2021   EUR   70.620
UBS AG/London         9.200   9/24/2020   EUR   66.370
UBS AG/London         8.200   6/24/2021   EUR   69.460
UBS AG/London        12.700   6/24/2021   EUR   70.950
UBS AG/London         3.500   3/25/2021   EUR   62.670
UBS AG/London         6.200   9/23/2021   EUR   70.080
UBS AG/London        12.000   3/25/2021   EUR   71.790
UBS AG/London         7.400   3/25/2021   EUR   63.740
UBS AG/London         5.800   3/25/2021   EUR   57.990
UBS AG/London        10.600  12/28/2020   EUR   73.280
UBS AG/London        10.200  12/28/2020   EUR   66.580
UBS AG/London         7.500   3/25/2021   EUR   72.310
UBS AG/London        13.100  12/28/2020   EUR   71.830
UBS AG/London         9.600   3/25/2021   EUR   72.510
UBS AG/London        10.900  12/28/2020   EUR   72.580
UBS AG/London         4.600   3/25/2021   EUR   60.870
UBS AG/London         6.400   3/25/2021   EUR   57.210
UBS AG/London         3.000   3/25/2021   EUR   62.630
UBS AG/London         5.200   3/25/2021   EUR   67.730
UBS AG/London         6.900  12/28/2020   EUR   67.430
UBS AG/London         5.400   3/25/2021   EUR   66.690
UBS AG/London         8.900   9/24/2020   EUR   61.150
UBS AG/London         4.400   3/25/2021   EUR   54.400
UBS AG/London         4.900   3/25/2021   EUR   66.680
UBS AG/London         7.900   3/25/2021   EUR   71.640
UBS AG/London         9.900   3/25/2021   EUR   65.860
UBS AG/London         8.400  12/28/2020   EUR   62.930
UBS AG/London         7.600   9/24/2020   EUR   62.730
UBS AG/London         8.400   3/25/2021   EUR   74.160
UBS AG/London         5.900   3/25/2021   EUR   58.980
UBS AG/London         9.100  12/28/2020   EUR   68.630
UBS AG/London        24.300   9/24/2020   EUR   61.800
UBS AG/London         5.000   3/25/2021   EUR   62.340
UBS AG/London         9.600  12/28/2020   EUR   50.810
UBS AG/London        13.400   9/24/2020   EUR   65.590
UBS AG/London        22.400  12/28/2020   EUR   63.800
UBS AG/London        17.500  12/28/2020   EUR   64.110
UBS AG/London        10.600  12/28/2020   EUR   72.590
UBS AG/London        15.700   9/24/2020   EUR   62.620
UBS AG/London         8.800   3/25/2021   EUR   71.190
UBS AG/London         4.600   3/25/2021   EUR   70.730
UBS AG/London         7.500   3/25/2021   EUR   68.330
UBS AG/London         5.200   6/24/2021   EUR   68.090
UBS AG/London         7.800  12/28/2020   EUR   67.290
UBS AG/London         5.600   3/25/2021   EUR   60.100
UBS AG/London        12.500   3/25/2021   EUR   68.340
UBS AG/London         5.600   3/25/2021   EUR   64.680
UBS AG/London         5.800   3/25/2021   EUR   58.400
UBS AG/London        11.800   6/24/2021   EUR   55.780
UBS AG/London         4.900   3/25/2021   EUR   59.690
UBS AG/London        12.000   3/25/2021   EUR   71.540
UBS AG/London        12.600  12/28/2020   EUR   64.730
UBS AG/London         9.000   9/23/2021   EUR   56.310
UBS AG/London         7.000   3/25/2021   EUR   57.330
UBS AG/London        12.500   3/25/2021   EUR   69.380
UBS AG/London        14.100  12/28/2020   EUR   66.380
UBS AG/London         3.900   3/25/2021   EUR   59.080
UBS AG/London        12.700   6/24/2021   EUR   70.410
UBS AG/London         8.600  12/28/2020   EUR   69.980
Raiffeisen Schweiz    6.900   8/13/2020   CHF   70.350
Zurcher Kantonalban  10.100   08/12/2020  EUR   43.700
Vontobel Financial   16.000   6/26/2020   EUR   59.850
Vontobel Financial   20.500   6/26/2020   EUR   55.620
Vontobel Financial   10.500   9/25/2020   EUR   66.810
Vontobel Financial   13.500   9/25/2020   EUR   62.660
Raiffeisen Schweiz   10.000   8/17/2021   CHF   68.810
Raiffeisen Schweiz    7.500   5/14/2021   CHF   59.050
Societe Generale Ef  18.632   6/19/2020   EUR   37.040
Societe Generale Ef  12.849   6/19/2020   EUR   39.020
Leonteq Securities    6.500   03/08/2021  CHF   70.690
Leonteq Securities    7.200   09/08/2021  CHF   54.090
Deutsche Bank AG      8.200   9/22/2020   EUR   67.500
Deutsche Bank AG      8.200   6/23/2020   EUR   51.700
Deutsche Bank AG      8.200   6/23/2020   EUR   49.600
Deutsche Bank AG      8.200  12/22/2020   EUR   53.300
DZ Bank AG Deutsche   8.000   6/22/2020   EUR   68.670
Credit Suisse AG/Lo   7.000   06/08/2020  CHF   66.120
DekaBank Deutsche G   2.400   04/09/2021  EUR   56.760
DekaBank Deutsche G   3.200   04/09/2021  EUR   63.070
DekaBank Deutsche G   3.100   04/08/2022  EUR   41.870
Raiffeisen Schweiz    6.200   03/08/2021  CHF   66.980
Leonteq Securities    4.000   03/08/2022  EUR   55.720
Raiffeisen Schweiz    7.200   03/08/2021  EUR   66.260
Deutsche Bank AG      3.200   6/23/2020   EUR   58.300
Deutsche Bank AG      3.200  12/22/2020   EUR   64.000
HSBC Trinkaus & Bur   9.500   6/26/2020   EUR   66.820
HSBC Trinkaus & Bur   8.800   6/26/2020   EUR   66.770
HSBC Trinkaus & Bur   6.000   6/26/2020   EUR   66.590
HSBC Trinkaus & Bur   9.400   6/26/2020   EUR   46.960
HSBC Trinkaus & Bur   6.000  12/28/2020   EUR   41.620
HSBC Trinkaus & Bur   8.700  12/28/2020   EUR   41.620
HSBC Trinkaus & Bur   7.700  12/28/2020   EUR   58.390
HSBC Trinkaus & Bur  11.000   6/26/2020   EUR   63.860
HSBC Trinkaus & Bur   8.800  12/28/2020   EUR   64.630
HSBC Trinkaus & Bur   7.600   6/25/2021   EUR   67.200
HSBC Trinkaus & Bur   6.500   6/25/2021   EUR   68.170
Landesbank Hessen-T   6.600   02/01/2024  EUR   58.190
Landesbank Baden-Wu   3.250   2/24/2023   EUR   62.520
UniCredit Bank AG     7.350   7/16/2020   EUR   39.760
HSBC Trinkaus & Bur   3.900   9/25/2020   EUR   50.940
HSBC Trinkaus & Bur   6.100   6/26/2020   EUR   46.080
HSBC Trinkaus & Bur   4.300   6/26/2020   EUR   51.080
HSBC Trinkaus & Bur   3.200   9/25/2020   EUR   54.330
HSBC Trinkaus & Bur   7.500   6/26/2020   EUR   68.380
BNP Paribas Emissio   8.500   6/25/2020   EUR   65.150
BNP Paribas Emissio  10.000   6/25/2020   EUR   51.670
Erste Group Bank AG   9.000   1/31/2024   EUR   73.100
BNP Paribas Emissio   5.000   6/25/2020   EUR   71.950
Societe Generale Ef  12.207   6/19/2020   EUR   58.560
Societe Generale Ef  18.953   6/19/2020   EUR   50.680
HSBC Trinkaus & Bur   5.100   6/26/2020   EUR   59.350
Corner Banca SA       6.200   03/08/2022  CHF   71.250
Leonteq Securities   10.200   06/08/2020  USD   35.250
Leonteq Securities    8.000   09/08/2021  EUR   57.460
Deutsche Bank AG      8.200  12/22/2020   EUR   66.200
Deutsche Bank AG      8.200   6/23/2020   EUR   38.100
Deutsche Bank AG      8.200  12/22/2020   EUR   41.900
Deutsche Bank AG      8.200   9/22/2020   EUR   70.600
Deutsche Bank AG      8.200   6/23/2020   EUR   67.000
Deutsche Bank AG      8.200  12/22/2020   EUR   68.900
DZ Bank AG Deutsche   4.750   6/22/2020   EUR   63.620
Leonteq Securities    6.000   9/14/2021   CHF   64.980
Societe Generale Ef  13.200   9/19/2023   SEK   55.530
Landesbank Baden-Wu   2.200  12/23/2022   EUR   68.700
Landesbank Hessen-T   4.000  11/28/2024   EUR   68.570
Center-Invest Comme   7.000   03/03/2022  RUB   63.130
Zurcher Kantonalban   6.500   9/20/2021   CHF   68.240
Goldman Sachs & Co   10.000   3/24/2021   EUR   62.850
UBS AG/London         9.500   3/15/2021   EUR   68.050
UBS AG/London         6.000   3/15/2021   CHF   66.250
Erste Group Bank AG   4.250   9/28/2022   EUR   65.950
EFG International F   6.100   09/07/2020  CHF   61.240
UniCredit Bank AG     4.500   10/09/2020  EUR   54.700
Deutsche Bank AG      3.200  12/22/2020   EUR   52.250
Deutsche Bank AG      3.200  12/22/2020   EUR   44.940
UBS AG/London         5.500   09/07/2020  CHF   56.850
UniCredit Bank AG     4.400   04/12/2023  EUR   72.970
DekaBank Deutsche G   6.300   10/01/2021  EUR   53.280
Bank Julius Baer &    7.760   3/15/2021   CHF   60.350
UBS AG/London         7.000   3/15/2021   CHF   67.500
UBS AG/London         8.000   3/15/2021   CHF   70.050
UBS AG/London        11.000   3/15/2021   EUR   46.900
Erste Group Bank AG   8.000   9/28/2023   EUR   52.900
Landesbank Baden-Wu   2.600   8/27/2021   EUR   71.560
Landesbank Baden-Wu   3.250   8/27/2021   EUR   73.030
Credit Suisse AG/Lo   5.250   9/13/2021   CHF   67.280
Landesbank Baden-Wu   3.600  12/29/2020   EUR   60.690
Bayerische Landesba   2.500   08/07/2020  EUR   67.020
Vontobel Financial    3.000   09/05/2023  EUR   72.340
Deutsche Bank AG      3.200   6/23/2020   EUR   54.750
Deutsche Bank AG      3.200  12/22/2020   EUR   55.060
UniCredit Bank AG     6.650   10/09/2020  EUR   60.220
UBS AG/London         8.000   09/07/2020  CHF   64.000
Zurcher Kantonalban   5.500   9/14/2020   CHF   49.380
Leonteq Securities    6.000   9/17/2020   CHF   55.830
Landesbank Baden-Wu   3.250  11/26/2021   EUR   67.150
Raiffeisen Schweiz    5.000   09/10/2020  CHF   52.920
Landesbank Baden-Wu   2.150  12/23/2022   EUR   68.150
Landesbank Baden-Wu   3.000  12/23/2022   EUR   56.510
DekaBank Deutsche G   3.700   10/02/2020  EUR   54.790
DekaBank Deutsche G   3.150   10/02/2020  EUR   41.510
DekaBank Deutsche G   3.300   10/04/2021  EUR   65.390
DekaBank Deutsche G   3.100  12/21/2020   EUR   65.330
Societe Generale SA   7.000  10/20/2020   USD    0.010
Bayerische Landesba   3.300   07/03/2020  EUR   69.200
Landesbank Hessen-T   3.400   8/13/2020   EUR   60.100
Landesbank Hessen-T   3.350   8/13/2020   EUR   63.500
Landesbank Hessen-T   3.800   8/13/2020   EUR   67.000
Landesbank Hessen-T   2.500   8/13/2020   EUR   62.000
Bayerische Landesba   2.600   07/03/2020  EUR   62.230
Landesbank Baden-Wu   2.300   2/26/2021   EUR   68.290
Landesbank Hessen-T   3.100   8/13/2020   EUR   30.800
DekaBank Deutsche G   2.400   10/09/2020  EUR   54.750
Landesbank Hessen-T   4.000   2/17/2021   EUR   31.530
EFG International F   7.000   10/12/2020  EUR   48.370
Corner Banca SA       9.000   10/06/2020  CHF   48.600
UniCredit Bank AG     4.050  10/24/2021   EUR   54.330
Leonteq Securities    5.200   10/06/2020  CHF   58.940
Landesbank Hessen-T   3.000   08/06/2021  EUR   34.400
Leonteq Securities    7.400   10/12/2020  CHF   63.910
Leonteq Securities    6.000   10/12/2020  CHF   58.760
Credit Suisse AG/Lo   7.250  12/28/2020   EUR   44.480
DZ Bank AG Deutsche   6.000   9/23/2020   EUR   67.810
SG Issuer SA          6.700   07/10/2024  EUR   60.390
Landesbank Hessen-T   3.250   8/13/2020   EUR   58.000
DekaBank Deutsche G   2.600   10/09/2020  EUR   72.960
Citigroup Global Ma   5.600   9/15/2022   SEK   55.540
DekaBank Deutsche G   3.250   10/09/2020  EUR   64.190
Landesbank Hessen-T   4.000   2/17/2021   EUR   61.240
Landesbank Hessen-T   1.550  10/27/2020   EUR   52.180
EFG International F   7.000   10/12/2020  CHF   63.500
EFG International F   7.000   10/12/2020  CHF   49.410
UniCredit Bank AG     3.900  10/24/2021   EUR   37.680
Landesbank Hessen-T   3.350   08/06/2021  EUR   49.500
Landesbank Baden-Wu   2.750   9/23/2022   EUR   56.620
DekaBank Deutsche G   1.000   11/02/2021  EUR   50.220
Skandinaviska Enski   4.000   7/15/2022   SEK   76.310
Landesbank Baden-Wu   2.150   7/24/2020   EUR   67.380
Leonteq Securities   10.800   9/28/2020   CHF   67.020
Leonteq Securities    6.400   6/28/2021   CHF   63.980
Raiffeisen Schweiz    7.000   9/28/2020   EUR   69.240
Leonteq Securities   10.000   9/28/2020   USD   49.980
Raiffeisen Schweiz    6.100   6/28/2021   CHF   63.690
Vontobel Financial    7.000   6/26/2020   EUR   55.630
Vontobel Financial    9.000   6/26/2020   EUR   55.760
Vontobel Financial   10.500   6/26/2020   EUR   52.440
Vontobel Financial   10.500   6/26/2020   EUR   51.010
Vontobel Financial    8.000   6/26/2020   EUR   70.390
Vontobel Financial    8.500   6/26/2020   EUR   37.580
Vontobel Financial   11.500   6/26/2020   EUR   51.410
Raiffeisen Schweiz    6.000   07/01/2022  CHF   71.290
Credit Suisse AG/Lo   8.000   9/25/2020   CHF   69.320
Credit Suisse AG/Lo   7.000   10/01/2020  CHF   65.190
UniCredit Bank AG     4.400   01/09/2021  EUR   54.990
DZ Bank AG Deutsche   7.500   9/23/2020   EUR   59.910
DZ Bank AG Deutsche   8.750   9/23/2020   EUR   53.730
DZ Bank AG Deutsche  12.000   6/24/2020   EUR   67.060
DZ Bank AG Deutsche   6.250   9/23/2020   EUR   71.030
UniCredit Bank AG     4.000   12/07/2020  EUR   46.850
Landesbank Baden-Wu   6.000   8/27/2021   EUR   69.150
Landesbank Baden-Wu   4.750   8/27/2021   EUR   66.310
Landesbank Baden-Wu   6.250   8/27/2021   EUR   63.770
Landesbank Baden-Wu   3.500   8/27/2021   EUR   64.660
Landesbank Baden-Wu   6.500   8/27/2021   EUR   66.970
Landesbank Baden-Wu   8.000   8/27/2021   EUR   65.600
Landesbank Baden-Wu   4.500   8/27/2021   EUR   70.230
Landesbank Baden-Wu   5.000   8/27/2021   EUR   57.140
Landesbank Baden-Wu   5.750   8/27/2021   EUR   55.410
Landesbank Baden-Wu   2.500   8/27/2021   EUR   67.230
Landesbank Baden-Wu   4.250   8/27/2021   EUR   70.400
Landesbank Baden-Wu   7.500   8/27/2021   EUR   64.700
Landesbank Baden-Wu   3.250   8/27/2021   EUR   64.620
Landesbank Baden-Wu   7.250   8/27/2021   EUR   64.690
Landesbank Baden-Wu   3.500   8/27/2021   EUR   71.320
Landesbank Baden-Wu   4.500   8/27/2021   EUR   64.500
Landesbank Baden-Wu   8.750   8/27/2021   EUR   60.060
Vontobel Financial   10.000   06/12/2020  EUR   36.030
Zurcher Kantonalban   5.000   07/02/2021  CHF   73.660
Vontobel Financial    6.000   06/12/2020  EUR   71.080
Vontobel Financial    8.500   06/12/2020  EUR   66.080
Vontobel Financial   12.500   09/11/2020  EUR   59.030
Vontobel Financial   13.000   09/11/2020  EUR   66.000
UBS AG/London         7.500   01/04/2021  CHF   73.800
UBS AG/London         6.750   07/05/2021  CHF   52.100
UBS AG/London        14.000   07/06/2021  USD   54.080
Banque Cantonale Va   6.800   6/28/2021   CHF   52.820
SAir Group            5.125   03/01/2003  CHF   12.500
Erste Group Bank AG   4.750  12/20/2021   EUR   58.050
Leonteq Securities    8.000   12/08/2020  CHF   53.520
Landesbank Baden-Wu   2.050   1/28/2022   EUR   61.660
Corner Banca SA       8.200   6/15/2020   CHF   52.500
Leonteq Securities    7.400  12/15/2020   CHF   66.530
Leonteq Securities    7.000  12/15/2020   CHF   64.000
UniCredit Bank AG     4.200   12/08/2021  EUR   37.670
Leonteq Securities    7.400  12/15/2020   CHF   61.800
DekaBank Deutsche G   2.300   01/08/2021  EUR   45.920
Leonteq Securities    4.000  12/29/2020   CHF   29.840
Landesbank Hessen-T   3.300   6/15/2020   EUR   66.600
UBS AG/London         7.000   6/15/2020   CHF   44.200
Landesbank Hessen-T   8.000   01/05/2023  EUR   59.330
Leonteq Securities    8.000  12/22/2020   CHF   55.040
EFG International F   7.200  12/29/2020   EUR   44.970
DekaBank Deutsche G   3.050  11/20/2020   EUR   44.410
Vontobel Financial    4.500  12/30/2020   EUR   52.680
DekaBank Deutsche G   3.800  12/18/2020   EUR   40.910
UniCredit Bank AG     5.200   1/14/2021   USD   43.780
Landesbank Hessen-T   6.100  11/17/2020   EUR   49.970
Landesbank Baden-Wu   2.750  11/25/2022   EUR   54.740
UBS AG/London         5.250   06/01/2020  USD   55.800
Landesbank Baden-Wu   2.400   1/28/2022   EUR   63.810
DekaBank Deutsche G   2.200  11/20/2020   EUR   56.620
Leonteq Securities    9.800   06/12/2020  CHF   32.730
DekaBank Deutsche G   3.000  12/29/2022   EUR   53.320
BNP Paribas Issuanc   6.400   01/05/2024  SEK   71.790
EFG International F   7.400  12/21/2020   USD   44.570
DekaBank Deutsche G   2.150   01/04/2021  EUR   72.290
Zurcher Kantonalban   5.000  12/14/2020   EUR   54.850
EFG International F   7.200  11/16/2020   CHF   62.820
EFG International F   6.400  11/16/2020   CHF   56.050
UBS AG/London         8.000   06/08/2020  CHF   52.850
DekaBank Deutsche G   2.900   01/04/2021  EUR   48.270
DekaBank Deutsche G   2.100   01/04/2021  EUR   38.660
Skandinaviska Enski   4.744   1/17/2023   SEK   48.730
Leonteq Securities    6.800  12/15/2020   CHF   53.670
Landesbank Hessen-T   4.000   12/08/2021  EUR   51.770
Landesbank Baden-Wu   2.000   2/25/2022   EUR   62.070
Bayerische Landesba   2.000   12/11/2020  EUR   68.640
UniCredit Bank AG     4.200   01/04/2021  EUR   42.290
Landesbank Baden-Wu   2.700  10/28/2022   EUR   55.390
DekaBank Deutsche G   4.050   07/03/2020  EUR   60.810
Landesbank Baden-Wu   3.000   9/25/2020   EUR   59.350
EFG International F   7.400  12/21/2020   CHF   51.670
Landesbank Baden-Wu   2.900  11/26/2021   EUR   61.630
Skandinaviska Enski   8.600   1/17/2023   SEK   36.250
UniCredit Bank AG     4.400   12/10/2022  EUR   43.290
EFG International F   7.000  11/16/2020   EUR   46.180
Leonteq Securities    7.000  12/15/2020   EUR   61.140
Landesbank Hessen-T   4.000   12/08/2021  EUR   72.940
Landesbank Baden-Wu   2.200   2/25/2022   EUR   62.980
Landesbank Baden-Wu   2.500   1/28/2022   EUR   70.610
Landesbank Baden-Wu   3.200  12/29/2020   EUR   50.890
UniCredit Bank AG     3.300  12/29/2022   EUR   60.150
Landesbank Hessen-T   4.000   01/05/2022  EUR   36.380
UniCredit Bank AG     3.600   09/03/2020  EUR   51.000
Landesbank Hessen-T   5.000   04/05/2023  EUR   73.650
Landesbank Hessen-T   5.400   04/05/2023  EUR   57.510
UBS AG/London         5.500   06/08/2020  EUR   70.150
DekaBank Deutsche G   2.800   01/04/2021  EUR   52.560
Zurcher Kantonalban   4.500   12/07/2020  CHF   61.810
Landesbank Baden-Wu   3.300  12/29/2020   EUR   65.390
Landesbank Baden-Wu   3.750  12/29/2020   EUR   50.190
UniCredit Bank AG     3.800  12/29/2022   EUR   51.530
DekaBank Deutsche G   5.150   07/03/2020  EUR   47.950
DekaBank Deutsche G   6.300   07/03/2020  EUR   30.840
Leonteq Securities    7.000   12/08/2021  CHF   69.250
Leonteq Securities    8.000   12/08/2020  CHF   55.320
Leonteq Securities    7.200   12/08/2020  USD   42.050
Landesbank Hessen-T   3.500   01/05/2022  EUR   68.790
Landesbank Hessen-T   3.500   01/05/2022  EUR   44.360
DekaBank Deutsche G   2.450  11/20/2020   EUR   69.690
DekaBank Deutsche G   3.000  11/22/2021   EUR   70.480
Landesbank Baden-Wu   3.000   7/24/2020   EUR   57.790
Leonteq Securities    6.800  12/13/2021   CHF   71.070
UBS AG/London         5.000   11/02/2020  CHF   63.700
Landesbank Hessen-T   3.000   09/06/2021  EUR   72.800
HSBC Trinkaus & Bur   5.200   6/26/2020   EUR   41.130
HSBC Trinkaus & Bur   7.000   6/26/2020   EUR   33.680
DekaBank Deutsche G   3.100   12/03/2021  EUR   46.070
Landesbank Baden-Wu   3.000  10/23/2020   EUR   51.370
Landesbank Baden-Wu   3.000  10/23/2020   EUR   68.980
Landesbank Baden-Wu   3.000  10/23/2020   EUR   60.900
Landesbank Baden-Wu   2.500  10/23/2020   EUR   69.560
Landesbank Baden-Wu   3.000  10/23/2020   EUR   72.510
Landesbank Baden-Wu   3.000  10/23/2020   EUR   57.650
Landesbank Baden-Wu   5.000  10/23/2020   EUR   31.860
Landesbank Baden-Wu   4.750   8/28/2020   EUR   72.400
Landesbank Baden-Wu   3.000  10/23/2020   EUR   57.680
Landesbank Baden-Wu   3.000  10/23/2020   EUR   51.230
Landesbank Baden-Wu   3.000  10/23/2020   EUR   68.910
Landesbank Baden-Wu   3.500   7/23/2021   EUR   64.620
UBS AG/London         6.000  10/26/2020   EUR   53.400
Bayerische Landesba   2.500   12/03/2021  EUR   56.660
UniCredit Bank AG     5.350  11/27/2020   EUR   59.030
Landesbank Baden-Wu   5.000  10/23/2020   EUR   66.040
Landesbank Baden-Wu   3.000   7/23/2021   EUR   60.370
Landesbank Baden-Wu   3.800   8/28/2020   EUR   59.670
Landesbank Baden-Wu   5.500   8/28/2020   EUR   47.710
Landesbank Baden-Wu   5.500  10/23/2020   EUR   73.000
Landesbank Baden-Wu   3.000  10/23/2020   EUR   57.550
Landesbank Baden-Wu   3.000  10/23/2020   EUR   69.870
Landesbank Baden-Wu   7.000  10/23/2020   EUR   57.330
UBS AG/London         6.000   11/02/2020  CHF   57.300
DZ Bank AG Deutsche   6.000   9/23/2020   EUR   71.330
UniCredit Bank AG     8.100   6/25/2021   EUR   71.520
UniCredit Bank AG    10.700   6/25/2021   EUR   55.430
UniCredit Bank AG    10.600   6/25/2021   EUR   62.650
UniCredit Bank AG     7.500   6/25/2021   EUR   71.720
UniCredit Bank AG     8.200   6/25/2021   EUR   70.880
UniCredit Bank AG     8.600   6/25/2021   EUR   71.970
UniCredit Bank AG     9.900   6/25/2021   EUR   63.480
UniCredit Bank AG    11.100   6/25/2021   EUR   70.360
UniCredit Bank AG     8.600  12/24/2021   EUR   70.840
UniCredit Bank AG     7.100  12/24/2021   EUR   72.650
UniCredit Bank AG     9.600   6/25/2021   EUR   56.530
UniCredit Bank AG     5.100   6/25/2021   EUR   50.190
UniCredit Bank AG     8.600   6/25/2021   EUR   60.020
UniCredit Bank AG     9.400   6/25/2021   EUR   64.180
Leonteq Securities    7.400  10/13/2020   CHF   62.960
UniCredit Bank AG     9.700   6/25/2021   EUR   73.420
UniCredit Bank AG    10.900   6/25/2021   EUR   59.350
UniCredit Bank AG    12.300   6/25/2021   EUR   61.820
UniCredit Bank AG     7.300  12/24/2021   EUR   73.340
UniCredit Bank AG     9.500  12/24/2021   EUR   61.860
UniCredit Bank AG    11.400  12/24/2021   EUR   61.310
UniCredit Bank AG    10.200   6/25/2021   EUR   57.280
UniCredit Bank AG    11.300   6/25/2021   EUR   56.460
UniCredit Bank AG     7.100   6/25/2021   EUR   63.200
UniCredit Bank AG     7.000   6/25/2021   EUR   48.320
UniCredit Bank AG     8.500   6/25/2021   EUR   70.580
UniCredit Bank AG     9.800  12/28/2020   EUR   58.700
UniCredit Bank AG    12.300  12/28/2020   EUR   54.850
UniCredit Bank AG    14.400  12/28/2020   EUR   51.240
DZ Bank AG Deutsche   5.250   7/22/2020   EUR   44.670
Landesbank Hessen-T   5.000   9/22/2023   EUR   70.960
Landesbank Hessen-T   5.900   9/22/2023   EUR   63.770
DZ Bank AG Deutsche   6.000   9/23/2020   EUR   64.120
UniCredit Bank AG     7.800   6/25/2021   EUR   56.990
Landesbank Baden-Wu   2.100   6/25/2021   EUR   69.630
UniCredit Bank AG     6.000   6/25/2021   EUR   49.120
DekaBank Deutsche G   2.250   6/18/2021   EUR   62.430
UniCredit Bank AG    10.700   6/25/2021   EUR   64.890
UniCredit Bank AG     9.600   6/25/2021   EUR   69.630
UniCredit Bank AG     8.700  12/24/2021   EUR   59.870
UniCredit Bank AG     6.500  12/24/2021   EUR   55.910
UniCredit Bank AG     7.700  12/24/2021   EUR   63.050
UniCredit Bank AG     5.200   6/25/2021   EUR   64.780
UniCredit Bank AG     8.000   6/25/2021   EUR   59.410
UniCredit Bank AG     6.400   6/25/2021   EUR   58.380
UniCredit Bank AG     9.300   6/25/2021   EUR   55.970
DZ Bank AG Deutsche   6.500   6/24/2020   EUR   47.430
DZ Bank AG Deutsche   9.250   9/23/2020   EUR   62.230
Landesbank Hessen-T   4.750   05/11/2023  EUR   49.810
Landesbank Hessen-T   6.500   05/11/2023  EUR   59.600
UniCredit Bank AG    10.300   6/25/2021   EUR   57.660
UniCredit Bank AG    10.100   6/25/2021   EUR   46.880
UniCredit Bank AG     9.000   6/25/2021   EUR   47.160
UniCredit Bank AG     8.200   6/25/2021   EUR   65.940
UniCredit Bank AG     8.000   6/25/2021   EUR   62.060
UniCredit Bank AG    10.500   6/25/2021   EUR   69.250
UniCredit Bank AG    12.500   6/25/2021   EUR   67.100
UniCredit Bank AG     5.500   6/25/2021   EUR   64.710
UniCredit Bank AG    14.600   6/25/2021   EUR   60.480
UniCredit Bank AG    11.300   6/25/2021   EUR   55.530
UniCredit Bank AG     5.200  12/24/2021   EUR   66.010
UniCredit Bank AG     9.800  12/24/2021   EUR   71.180
UniCredit Bank AG     9.400   6/25/2021   EUR   49.660
UniCredit Bank AG     6.000   6/25/2021   EUR   62.580
UniCredit Bank AG    10.700   6/25/2021   EUR   48.440
Leonteq Securities    3.000   07/04/2024  CHF   73.150
UniCredit Bank AG    11.800   6/25/2021   EUR   54.520
UniCredit Bank AG    11.900   6/25/2021   EUR   55.800
DekaBank Deutsche G   2.800   6/19/2020   EUR   43.250
UniCredit Bank AG     6.200  12/24/2021   EUR   62.710
UniCredit Bank AG     7.300   6/25/2021   EUR   72.310
UniCredit Bank AG    10.600   6/25/2021   EUR   74.490
UniCredit Bank AG    12.000   6/25/2021   EUR   47.540
UniCredit Bank AG     6.500   6/25/2021   EUR   61.480
UniCredit Bank AG     7.500   6/25/2021   EUR   59.530
UniCredit Bank AG    11.800   6/25/2021   EUR   61.320
UniCredit Bank AG    14.000   6/25/2021   EUR   69.420
UniCredit Bank AG     7.600   6/25/2021   EUR   70.760
UniCredit Bank AG     7.000   6/25/2021   EUR   67.910
Societe Generale Ef  10.500   6/26/2020   EUR   70.200
Skandinaviska Enski   7.800   7/15/2024   SEK   27.730
Skandinaviska Enski   6.500   7/15/2024   SEK   43.470
Credit Suisse AG/Lo   7.000   10/09/2020  CHF   70.370
Landesbank Baden-Wu   3.750   4/23/2021   EUR   63.840
UniCredit Bank AG     6.100  12/24/2021   EUR   64.130
UniCredit Bank AG     7.300  12/24/2021   EUR   71.760
UniCredit Bank AG     6.400  12/24/2021   EUR   73.760
Leonteq Securities    6.800   05/11/2021  EUR   60.670
UniCredit Bank AG     8.300  12/29/2020   EUR   44.050
UniCredit Bank AG     8.500  12/29/2020   EUR   57.040
UniCredit Bank AG     6.200  12/29/2020   EUR   66.020
UniCredit Bank AG     7.400  12/29/2020   EUR   45.390
UniCredit Bank AG     9.300  12/29/2020   EUR   49.220
UniCredit Bank AG     7.000  12/29/2020   EUR   55.870
UniCredit Bank AG     9.200  12/29/2020   EUR   51.470
UniCredit Bank AG     9.200  12/29/2020   EUR   55.850
UniCredit Bank AG     9.400  12/29/2020   EUR   42.560
UniCredit Bank AG     7.600  12/29/2020   EUR   45.960
UniCredit Bank AG     7.300  12/29/2020   EUR   47.690
UniCredit Bank AG     9.800  12/29/2020   EUR   63.760
UniCredit Bank AG     7.900  12/29/2020   EUR   67.840
UniCredit Bank AG     7.100  12/29/2020   EUR   55.560
UniCredit Bank AG     7.400  12/29/2020   EUR   72.450
UniCredit Bank AG     8.400  12/29/2020   EUR   74.410
UniCredit Bank AG     6.700  12/29/2020   EUR   25.400
UniCredit Bank AG     6.500  12/29/2020   EUR   56.490
UniCredit Bank AG     7.900  12/29/2020   EUR   75.410
UniCredit Bank AG     9.800  12/29/2020   EUR   57.970
UniCredit Bank AG     8.500  12/29/2020   EUR   43.460
UniCredit Bank AG     9.500  12/29/2020   EUR   37.570
UniCredit Bank AG     8.400  12/29/2020   EUR   33.980
UniCredit Bank AG    11.500  12/29/2020   EUR   47.800
UniCredit Bank AG     8.100  12/29/2020   EUR   47.490
UniCredit Bank AG    10.000  12/29/2020   EUR   25.230
UniCredit Bank AG     8.100  12/29/2020   EUR   51.690
UniCredit Bank AG     6.600  12/29/2020   EUR   54.900
UniCredit Bank AG     8.400  12/29/2020   EUR   17.510
UniCredit Bank AG     8.900  12/29/2020   EUR   17.380
UniCredit Bank AG     9.200  12/29/2020   EUR   74.290
UniCredit Bank AG     7.300  12/29/2020   EUR   41.930
UniCredit Bank AG     6.700  12/29/2020   EUR   74.210
UniCredit Bank AG    10.500  12/29/2020   EUR   70.610
UniCredit Bank AG     6.600  12/29/2020   EUR   42.920
UniCredit Bank AG     6.600  12/29/2020   EUR   47.410
UniCredit Bank AG     7.400  12/29/2020   EUR   68.380
UniCredit Bank AG     6.700  12/29/2020   EUR   52.830
UniCredit Bank AG     9.300  12/29/2020   EUR   61.380
UniCredit Bank AG     6.800  12/29/2020   EUR   70.110
UniCredit Bank AG     8.300  12/29/2020   EUR   43.900
UniCredit Bank AG     8.600  12/29/2020   EUR   63.440
UniCredit Bank AG     9.300  12/29/2020   EUR   26.990
UniCredit Bank AG    10.500  12/29/2020   EUR   27.330
UniCredit Bank AG     7.000  12/29/2020   EUR   35.260
UniCredit Bank AG     8.400  12/29/2020   EUR   27.670
UniCredit Bank AG     7.400  12/29/2020   EUR   67.450
UniCredit Bank AG     8.800  12/29/2020   EUR   63.380
UniCredit Bank AG    10.200  12/29/2020   EUR   48.450
UniCredit Bank AG     8.800  12/29/2020   EUR   49.460
UniCredit Bank AG     9.400  12/29/2020   EUR   58.890
UniCredit Bank AG     7.600  12/29/2020   EUR   29.910
UniCredit Bank AG     9.200  12/29/2020   EUR   28.350
UniCredit Bank AG     8.000  12/29/2020   EUR   34.100
UniCredit Bank AG     8.500  12/29/2020   EUR   29.170
UniCredit Bank AG     6.400  12/29/2020   EUR   70.990
UniCredit Bank AG     7.500  12/29/2020   EUR   41.220
UniCredit Bank AG     9.600  12/29/2020   EUR   69.340
UniCredit Bank AG     8.300  12/29/2020   EUR   40.080
UniCredit Bank AG     7.800  12/29/2020   EUR   34.090
UniCredit Bank AG     8.700  12/29/2020   EUR   28.590
UniCredit Bank AG    10.600  12/29/2020   EUR   55.670
UniCredit Bank AG     8.400  12/29/2020   EUR   64.100
UniCredit Bank AG    10.800  12/29/2020   EUR   31.620
UniCredit Bank AG     8.000  12/29/2020   EUR   27.630
UniCredit Bank AG     8.100  12/29/2020   EUR   27.390
UniCredit Bank AG     9.200  12/29/2020   EUR   28.640
UniCredit Bank AG     6.100  12/29/2020   EUR   28.950
Raiffeisen Centroba   7.200   6/19/2020   EUR   46.030
UniCredit Bank AG     3.250   06/04/2021  EUR   60.430
UniCredit Bank AG     3.350   6/14/2022   EUR   69.980
UniCredit Bank AG     4.200   06/07/2021  EUR   61.640
Landesbank Baden-Wu   3.000   8/25/2023   EUR   59.480
Vontobel Financial    9.000   06/05/2020  EUR   28.180
DekaBank Deutsche G   2.200   4/16/2021   EUR   49.000
Landesbank Baden-Wu   4.400   6/24/2022   EUR   63.960
EFG International F   6.600   06/01/2021  CHF   61.240
UniCredit Bank AG     4.000   06/11/2020  EUR   36.880
Raiffeisen Schweiz    5.300  11/23/2020   CHF   41.780
Leonteq Securities    5.500   5/25/2021   CHF   44.290
Landesbank Baden-Wu   3.000   6/23/2023   EUR   62.900
Leonteq Securities    7.800   5/14/2021   CHF   22.040
DekaBank Deutsche G   3.500   8/14/2020   EUR   49.190
UniCredit Bank AG     7.700  12/29/2020   EUR   67.880
UniCredit Bank AG     8.200  12/29/2020   EUR   66.310
UniCredit Bank AG     7.600  12/29/2020   EUR   70.930
UniCredit Bank AG    10.200  12/29/2020   EUR   54.130
UniCredit Bank AG     8.800  12/29/2020   EUR   59.480
UniCredit Bank AG     8.600  12/29/2020   EUR   52.810
UniCredit Bank AG     8.500  12/29/2020   EUR   35.650
UniCredit Bank AG     6.200  12/29/2020   EUR   65.820
UniCredit Bank AG     7.400  12/29/2020   EUR   67.860
UniCredit Bank AG     7.200  12/29/2020   EUR   71.680
UniCredit Bank AG     7.200  12/29/2020   EUR   51.680
UniCredit Bank AG     9.300  12/29/2020   EUR   38.130
UniCredit Bank AG     6.900  12/29/2020   EUR   68.480
UniCredit Bank AG     7.500  12/29/2020   EUR   53.140
UniCredit Bank AG     6.600  12/29/2020   EUR   35.760
UniCredit Bank AG     7.000  12/29/2020   EUR   64.370
UniCredit Bank AG     6.100  12/29/2020   EUR   70.730
UniCredit Bank AG     7.300  12/29/2020   EUR   53.610
UniCredit Bank AG     3.800  10/24/2021   EUR   75.050
DekaBank Deutsche G   2.600   8/14/2020   EUR   71.270
UniCredit Bank AG     6.200  12/29/2020   EUR   38.190
UniCredit Bank AG     7.000  12/29/2020   EUR   53.010
UniCredit Bank AG     6.300  12/29/2020   EUR   63.550
UniCredit Bank AG     8.400  12/29/2020   EUR   41.470
UniCredit Bank AG     9.000  12/29/2020   EUR   63.760
UniCredit Bank AG     8.200  12/29/2020   EUR   60.490
UniCredit Bank AG     6.800  12/29/2020   EUR   40.400
UniCredit Bank AG     8.700  12/29/2020   EUR   76.030
UniCredit Bank AG     7.900  12/29/2020   EUR   50.450
UniCredit Bank AG     6.300  12/29/2020   EUR   50.220
UniCredit Bank AG    10.100  12/29/2020   EUR   42.790
UniCredit Bank AG     7.100  12/29/2020   EUR   45.370
UniCredit Bank AG     8.100  12/29/2020   EUR   44.890
UniCredit Bank AG     9.200  12/29/2020   EUR   69.660
UniCredit Bank AG     7.600  12/29/2020   EUR   22.330
UniCredit Bank AG     7.300  12/29/2020   EUR   65.340
UniCredit Bank AG     6.900  12/29/2020   EUR   41.280
UniCredit Bank AG    10.800  12/29/2020   EUR   66.950
UniCredit Bank AG     7.000  12/29/2020   EUR   71.210
UniCredit Bank AG     8.800  12/29/2020   EUR   38.550
UniCredit Bank AG    11.000  12/29/2020   EUR   48.620
UniCredit Bank AG     7.000  12/29/2020   EUR   69.950
UniCredit Bank AG     8.200  12/29/2020   EUR   67.870
UniCredit Bank AG     8.100  12/29/2020   EUR   53.030
UniCredit Bank AG     9.200  12/29/2020   EUR   45.610
UniCredit Bank AG     9.300  12/29/2020   EUR   25.510
UniCredit Bank AG     4.000   06/07/2022  EUR   38.170
UniCredit Bank AG     3.700   06/04/2022  EUR   74.810
Bank Julius Baer &   10.000   07/08/2020  EUR   50.050
Raiffeisen Schweiz    4.500   07/05/2021  CHF   35.720
DZ Bank AG Deutsche   6.700   9/21/2020   EUR   71.160
DekaBank Deutsche G   3.000   7/24/2020   EUR   61.510
DZ Bank AG Deutsche  10.500   6/22/2020   EUR   70.050
DZ Bank AG Deutsche  10.000   9/21/2020   EUR   68.550
DZ Bank AG Deutsche   5.250   9/21/2020   EUR   66.520
Zurcher Kantonalban   6.750   7/16/2021   CHF   66.000
UniCredit Bank AG     7.000  12/29/2020   EUR   41.470
UniCredit Bank AG     7.500  12/29/2020   EUR   42.610
UniCredit Bank AG     6.200  12/29/2020   EUR   57.390
UniCredit Bank AG     6.100  12/29/2020   EUR   41.580
UniCredit Bank AG     6.500  12/29/2020   EUR   56.050
UniCredit Bank AG     8.700  12/29/2020   EUR   39.040
UniCredit Bank AG    10.500  12/29/2020   EUR   48.460
UniCredit Bank AG     7.500  12/29/2020   EUR   54.150
UniCredit Bank AG     6.700  12/29/2020   EUR   67.240
UniCredit Bank AG    11.800  12/29/2020   EUR   33.480
Leonteq Securities    5.600   5/25/2021   CHF   24.700
Vontobel Financial   11.500   6/26/2020   EUR   63.400
Vontobel Financial    9.500   6/26/2020   EUR   68.610
Vontobel Financial    9.500   6/26/2020   EUR   60.820
Vontobel Financial   10.500   6/26/2020   EUR   52.850
Vontobel Financial   14.000   6/26/2020   EUR   60.160
DZ Bank AG Deutsche   8.250   6/22/2020   EUR   65.050
Zurcher Kantonalban   6.500   7/16/2021   EUR   62.500
UniCredit Bank AG     4.000  10/30/2021   EUR   62.450
DZ Bank AG Deutsche  12.200   6/22/2020   EUR   65.770
EFG International F   7.600   10/11/2021  CHF   64.750
Landesbank Baden-Wu   3.000   3/25/2022   EUR   59.450
UBS AG/London         6.750  11/17/2020   CHF   56.700
Leonteq Securities    3.250   5/18/2021   CHF   62.540
DZ Bank AG Deutsche   7.250   6/22/2020   EUR   65.300
Bayerische Landesba   2.500   6/18/2021   EUR   63.570
DZ Bank AG Deutsche   9.250   9/21/2020   EUR   62.270
Zurcher Kantonalban   5.250   7/16/2021   CHF   66.990
Bayerische Landesba   3.000   11/05/2021  EUR   61.810
UniCredit Bank AG     8.900   6/26/2020   EUR   67.300
UniCredit Bank AG     9.000   6/26/2020   EUR   70.580
UniCredit Bank AG    12.600   6/26/2020   EUR   64.350
UniCredit Bank AG    10.300   6/26/2020   EUR   67.760
Landesbank Hessen-T   2.500   5/20/2021   EUR   58.800
Landesbank Baden-Wu   3.500   6/25/2021   EUR   59.450
Bayerische Landesba   2.800   06/05/2020  EUR   70.450
Societe Generale Ef  11.750   6/26/2020   EUR   69.440
Societe Generale Ef   7.750   6/26/2020   EUR   55.980
Societe Generale Ef   5.500   6/26/2020   EUR   69.650
Societe Generale Ef   7.500   6/26/2020   EUR   65.870
Commerzbank AG        6.000   05/09/2022  USD    0.160
Societe Generale Ef   4.500   6/26/2020   EUR   45.380
Societe Generale Ef  11.750   6/26/2020   EUR   50.910
Societe Generale Ef   4.500   6/26/2020   EUR   72.040
Societe Generale Ef   6.500   6/26/2020   EUR   67.610
Societe Generale Ef  10.500   6/26/2020   EUR   64.340
Societe Generale Ef   3.750   6/26/2020   EUR   64.680
Societe Generale Ef   5.750   6/26/2020   EUR   59.550
Landesbank Hessen-T   6.000   03/10/2023  EUR   66.880
UBS AG/London         6.500   07/12/2021  EUR   52.500
EFG International F  10.000   7/15/2020   CHF   55.690
UniCredit Bank AG     9.800   6/25/2021   EUR   57.120
UniCredit Bank AG     4.000   7/31/2020   EUR   54.170
Societe Generale Ef  11.500   6/26/2020   EUR   72.170
Societe Generale Ef   9.750   6/26/2020   EUR   53.100
BNP Paribas Issuanc   5.000   06/12/2023  SEK   68.580
Societe Generale Ef  11.250   6/26/2020   EUR   69.110
Societe Generale Ef   9.500   6/26/2020   EUR   62.900
Landesbank Hessen-T   8.200   06/09/2022  EUR   54.020
Societe Generale Ef   5.250   6/26/2020   EUR   68.970
Societe Generale Ef  14.000   6/26/2020   EUR   61.370
Societe Generale Ef   5.250   6/26/2020   EUR   74.410
Societe Generale Ef   4.500   6/26/2020   EUR   59.960
Societe Generale Ef   6.500   6/26/2020   EUR   50.670
Societe Generale Ef   7.500   6/26/2020   EUR   49.210
Societe Generale Ef   9.500   6/26/2020   EUR   46.770
Societe Generale Ef  12.750   6/26/2020   EUR   46.630
Societe Generale Ef   8.500   6/26/2020   EUR   60.150
Societe Generale Ef  12.500   6/26/2020   EUR   60.640
Bayerische Landesba   3.200  11/20/2020   EUR   62.480
Societe Generale Ef   7.250   6/26/2020   EUR   63.320
Societe Generale Ef   6.500   6/26/2020   EUR   56.020
Societe Generale Ef   8.500   6/26/2020   EUR   53.200
Societe Generale Ef  14.750   6/26/2020   EUR   44.010
Societe Generale Ef  10.000   6/26/2020   EUR   71.240
Societe Generale Ef   9.250   6/26/2020   EUR   72.740
Societe Generale Ef   8.500   6/26/2020   EUR   64.310
Skandinaviska Enski   8.300   7/17/2023   SEK   40.680
Landesbank Hessen-T   3.150   05/11/2022  EUR   54.730
UBS AG/London         8.500   07/10/2020  CHF   70.950
UBS AG/London        11.000   07/10/2020  CHF   52.750
Landesbank Baden-Wu   2.900  12/29/2020   EUR   64.850
Landesbank Baden-Wu   2.400  12/29/2020   EUR   72.100
DekaBank Deutsche G   4.250   11/09/2020  EUR   62.760
UBS AG/London         6.250   06/02/2020  CHF   71.350
UBS AG/London         7.000   06/02/2020  CHF   36.300
UBS AG/London         7.500   06/01/2020  EUR   72.100
Vontobel Financial   18.000   9/25/2020   EUR   67.260
Vontobel Financial    4.000   6/26/2020   EUR   73.470
Vontobel Financial   11.500   9/25/2020   EUR   53.500
DekaBank Deutsche G   2.200   06/08/2020  EUR   74.200
DekaBank Deutsche G   2.250   06/08/2020  EUR   62.400
UBS AG/London         7.500   07/10/2020  CHF   68.900
Leonteq Securities   10.000   12/07/2020  EUR   52.450
DekaBank Deutsche G   4.250   05/03/2022  EUR   52.520
Landesbank Hessen-T   3.450   09/09/2020  EUR   60.700
UniCredit Bank AG     3.300   06/11/2021  EUR   62.220
Bank Julius Baer &    6.750   7/13/2020   EUR   43.400
Bank Julius Baer &    8.050   7/13/2020   EUR   55.600
Vontobel Financial   18.500   6/26/2020   EUR   57.500
Leonteq Securities    7.400  11/25/2020   CHF   24.400
Raiffeisen Schweiz    3.100   5/28/2021   CHF   67.120
Raiffeisen Centroba   5.500   6/30/2020   EUR   64.630
Landesbank Baden-Wu   2.650   8/26/2022   EUR   67.830
UBS AG/London         6.250   07/12/2021  CHF   64.650
EFG International F   7.000   07/11/2022  CHF   66.990
Landesbank Hessen-T   5.200   08/09/2024  EUR   56.010
UniCredit Bank AG    13.500   6/25/2021   EUR   61.160
UniCredit Bank AG     6.600  12/24/2021   EUR   72.340
UniCredit Bank AG     8.300  12/24/2021   EUR   62.060
UniCredit Bank AG     8.300  12/24/2021   EUR   65.410
Leonteq Securities    7.000   04/09/2021  EUR   70.670
UniCredit Bank AG     8.600  12/24/2021   EUR   62.510
Societe Generale Ef   3.750   5/24/2021   EUR   22.720
UniCredit Bank AG    10.200  12/24/2021   EUR   56.720
UniCredit Bank AG     7.700  12/24/2021   EUR   49.390
UniCredit Bank AG    10.300  12/24/2021   EUR   58.650
Raiffeisen Schweiz    6.250   12/01/2020  CHF   63.490
UniCredit Bank AG     7.000  12/24/2021   EUR   61.530
UniCredit Bank AG    11.100   6/25/2021   EUR   62.590
Societe Generale Ef  10.750   6/26/2020   EUR   66.730
Societe Generale Ef   4.500   6/26/2020   EUR   63.170
UniCredit Bank AG     8.000  12/24/2021   EUR   72.080
UniCredit Bank AG     8.100  12/24/2021   EUR   58.320
Leonteq Securities    5.000  10/13/2020   CHF   46.760
Bayerische Landesba   2.800   12/11/2020  EUR   60.760
UniCredit Bank AG    10.600  12/24/2021   EUR   60.790
UniCredit Bank AG    11.100   6/25/2021   EUR   69.940
UniCredit Bank AG     9.400  12/24/2021   EUR   72.170
Bayerische Landesba   3.000   09/04/2020  EUR   70.320
UniCredit Bank AG     7.200  12/24/2021   EUR   63.020
UniCredit Bank AG     6.500  12/24/2021   EUR   72.520
UniCredit Bank AG     7.900  12/24/2021   EUR   71.790
UniCredit Bank AG    10.500  12/24/2021   EUR   61.610
UniCredit Bank AG     9.300  12/24/2021   EUR   51.530
UniCredit Bank AG    12.300  12/24/2021   EUR   61.090
UniCredit Bank AG     4.630   7/30/2020   EUR   45.430
UniCredit Bank AG     9.500  12/24/2021   EUR   59.210
UniCredit Bank AG     6.900  12/24/2021   EUR   58.960
Raiffeisen Schweiz    5.200   12/01/2020  CHF   53.500
Landesbank Baden-Wu   2.800   6/25/2021   EUR   65.800
Societe Generale Ef   8.750   6/26/2020   EUR   69.960
Societe Generale Ef  12.500   6/26/2020   EUR   53.720
Landesbank Baden-Wu   3.500   6/26/2020   EUR   49.730
Societe Generale Ef   9.500   6/26/2020   EUR   71.830
Societe Generale Ef  15.250   6/26/2020   EUR   50.150
Societe Generale Ef   7.000   6/26/2020   EUR   74.550



                           *********


S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter-Europe is a daily newsletter co-
published by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.
Marites O. Claro, Rousel Elaine T. Fernandez, Joy A. Agravante,
Julie Anne L. Toledo, Ivy B. Magdadaro, and Peter A. Chapman,
Editors.

Copyright 2020.  All rights reserved.  ISSN 1529-2754.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.

Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.

The TCR Europe subscription rate is US$775 per half-year,
delivered via e-mail.  Additional e-mail subscriptions for
members of the same firm for the term of the initial subscription
or balance thereof are US$25 each.  For subscription information,
contact Peter Chapman at 215-945-7000.


                * * * End of Transmission * * *