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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, May 23, 2022, Vol. 23, No. 96

                           Headlines



C Z E C H   R E P U B L I C

NET4GAS SRO: Fitch Lowers LongTerm IDR to 'BB+'


F R A N C E

ILIAD SA: Moody's Rates EUR3.9BB Senior Unsecured Bonds 'Ba2'
ILIAD SA: S&P Assigns 'BB' Rating to EUR3.9BB Senior Unsecured Bond


G E R M A N Y

PROGROUP AG: Moody's Affirms 'Ba3' CFR, Outlook Remains Stable


I R E L A N D

DRYDEN 96 2021: S&P Assigns Prelim. B-(sf) Rating on Cl. F Notes
INVESCO EURO VIII: Moody's Gives (P)B3 Rating to Class F Notes
OAK HILL III: Moody's Affirms B3 Rating on EUR12MM Class F-R Notes
PREMIER PERICLASE: Exits Examinership After Survival Scheme OK'd


I T A L Y

TEAMSYSTEM SPA: S&P Assigns 'B-' LongTerm ICR, Outlook Stable


L U X E M B O U R G

WEBPROS: Moody's Hikes CFR to B2, Outlook Stable


R U S S I A

ASIA INSURANCE: S&P Assigns 'B-' ICR, Outlook Positive


S E R B I A

ROMULIJANA: Auction Fails to Attract Interested Buyers


U K R A I N E

[*] UKRAINE: President Biden Inks US$40BB Aid Package Into Law


U N I T E D   K I N G D O M

CASTLE UK: Fitch Rates GBP815MM Secured Bonds 'BB-'
GREENE KING: Fitch Alters Rating to BB+ on 1 Class Debts
HARVEST CLO XXIII: Fitch Hikes Class F Notes Rating to 'Bsf'
MR LEE'S PURE FOOD: Enters Administration, Halts Trading
SAFE HANDS: Customers Expected to Get Only a Fifth of Money Back

TOGETHER ASSET 2022-2ND1: S&P Assigns B-(sf) Rating on Cl. F Certs
TURBO FINANCE 9: Moody's Affirms Ba2 Rating on GBP14.594MM E Notes
VIDAL SASSOON: Closes Glasgow Salon Following Administration


X X X X X X X X

[*] BOND PRICING: For the Week May 16 to May 20, 2022

                           - - - - -


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C Z E C H   R E P U B L I C
===========================

NET4GAS SRO: Fitch Lowers LongTerm IDR to 'BB+'
-----------------------------------------------
Fitch Ratings has downgraded Net4gas, s.r.o.'s Long-Term Issuer
Default Rating (IDR) and senior unsecured rating to 'BB+' from
'BBB' and maintained them on Rating Watch Negative (RWN).

The downgrade reflects Fitch's view of substantially higher risk to
Net4gas' long-term ship-or-pay contracts with Gazprom, in
combination with the current level of indebtedness and the
deterioration of the key counterparty's credit quality.

Fitch's view is derived from the progressive escalation of
sanctions between Europe and Russia, which could prevent the
receipt of scheduled payments from Gazprom in case of further
measures, and from Europe's firm commitment to strongly reduce
their reliance on Russian gas. While Net4gas' infrastructure could
accommodate alternative flows, and thus receive capacity bookings
also to service eastern Europe in the medium term, visibility on
this is currently limited. Net4gas maintains strong liquidity and
options for counter-measures in case of adverse development in its
transit business.

The RWN reflects the material risk of non-payment from Gazprom,
potentially stemming from a complete halt of gas flows from Russia
to the EU. Fitch would affirm the rating with a Stable Outlook if
such risk eases or if medium-term cash flow visibility improves,
potentially as a consequence of easing geopolitical tensions. The
RWN resolution could take longer than six months.

KEY RATING DRIVERS

Long-Term Contracts at Risk: Fitch sees increasing risk to the
long-term ship-or-pay transit contracts between Net4gas and
Gazprom, which account for around 75% of the company's revenue, due
to potential further escalation of sanctions and deteriorating
underlying gas transit fundamentals. EU has announced a clear
commitment to diversify gas supply, reduce and, ultimately,
eliminate its energy dependence on Russia. Fitch acknowledges the
capacity-based nature of Net4gas contracts with Gazprom; however,
Fitch believes that the increasing gap between expected gas flows
and long-term booked transit capacity poses a serious threat to the
company's otherwise strong revenue visibility.

Performing Contracts, Weaker Counterparty: At present, the EU
sanctions and Russia's responses have not halted gas flows to its
largest end-markets in Europe or Gazprom's ability to pay under its
ship-or-pay contracts, allowing Net4gas to perform
better-than-expected, while accumulating CZK4.7 billion of cash on
its balance sheet as of April 2022.

Assuming an ordinary flow of payments from Gazprom in the medium
term, and in the absence of dividend distributions, Net4gas would
reduce net debt to around 2x funds from operations (FFO) in 2026
from 4.0x in 2021, which would represent rating upside. However,
Gazprom's counterparty risk is now increased since the conflict,
weighing on Net4gas' creditworthiness.

Highly Uncertain Environment: The downgrade also reflects the risk
that escalating sanctions could lead to a complete cut off of
Russian gas to Europe and possibly one or both parties being unable
to honour the ship-or-pay contract. In case of Gazprom's
non-payments, funds from operations (FFO) net leverage would jump
to above 10x and debt reduction capacity would be limited, all else
being equal. Fitch expects Net4gas to be entitled to claim some
compensation from public authorities, if halted payments are
triggered by EU sanctions, but visibility on the overall
compensation process is very limited, in Fitch's view.

Medium-Term Uncertainty: The increasing gap between expected gas
flows from Russia and long-term booked capacity in the medium term
may also increase the likelihood that major shipper could attempt
to challenge the contracts. While Fitch believes Net4gas would
insist on its strong legal contractual rights in this scenario,
cash flow visibility, in Fitch's view, would be reduced.

Limited Visibility on Alternative Flows: Fitch believes that
Net4gas's infrastructure, aside from serving as the regulated
national transmission system operator (TSO) (expected around CZK2.2
billion in annual revenue) and residual transits related to Nord
Stream, will continue to play a key role in allowing central and
eastern European (CEE) countries' gas imports, even in absence of
Russian gas. However, any estimate of alternative gas flows and
contractual visibility (ie short- or long-term bookings) would
depend on the final shape of the European gas market, which is
highly uncertain at present.

Challenged Capital Structure: A failure to pay by Net4gas's major
shipper, or a potential contractual dispute, would require, in
Fitch's view, a material rebalance of the capital structure, which
currently includes around CZK34 billion financial debt. Fitch view
both Allianz Capital Partners and OMERS as disciplined shareholders
(dividends are currently suspended until "the risk of an external
shock materialising has significantly reduced") and expect them to
avoid distributions in a highly uncertain environment. However, the
visibility of support under extreme scenarios is now understandably
low. Once business visibility is largely restored, Fitch expects
the company and its shareholders to adhere to the original target
of an investment-grade capital structure, which Fitch sees as
achievable.

DERIVATION SUMMARY

eustream, a.s. (BBB+/RWN; 'bbb' Standalone Credit Profile recently
revised from 'a-') is Net4gas's closest rated peer since both
companies own and operate gas transit pipelines in Slovakia and the
Czech Republic, respectively, although Net4gas also benefits from a
higher share of domestic business with more supportive regulation
and almost zero exposure to short-term contracts. Both companies
are highly dependent on Russian gas transit to Europe, with
concentrated counterparty risk while eustream's balance sheet is
significantly less leveraged (around 2.5x FFO net leverage)

Net4gas is in a weaker competitive position than fully regulated
national TSO peers such as Snam S.p.A. (BBB+/Stable) and REN -
Redes Energeticas Nacionais, SGPS, S.A. (BBB/Stable) and pure gas
distributor Czech Gas Networks Investments S.a r.l (BBB/Stable).
The latter shares the same country, regulator and a supportive
fifth regulatory period as Net4gas, but its earnings from
traditionally regulated networks allow for a higher debt capacity
than long-term ship-or-pay contracts.

Furthermore, under Fitch's current corporate rating methodology,
ship-or-pay contracts do not intrinsically strengthen recovery
prospects for senior creditors, and, therefore, do not allow
Net4gas's senior unsecured debt to be notched up from the IDR,
unlike that of Czech Gas Network Investment, given the dominant
contribution of high-quality regulated activities.

KEY ASSUMPTIONS

-- Revenue is based on the current regulatory framework for 2022-
    2025 (RP5), which entails a weighted average cost of capital
    set at 6.43%, the alignment of regulated asset base (RAB) to
    net asset value within RP5 and the inclusion of the MCE
    investments in RAB in 2022;

-- For the transit business, Fitch conservatively assumes lower
    revenue compared with the ship-or-pay contract, to factor in
    the reduced visibility related to sanctions and high
    geopolitical tensions;

-- No additional short-term bookings from 2023 onwards;

-- Transit operating expenditure reduced by 30%-35% from 2023
    onwards, reflecting estimated potential rationalisation
    opportunities;

-- Cumulative capex reduced by more than CZK1.3 billion in 2022-
    2026, reflecting estimated potential rationalisation
    opportunities;

-- No dividend payments during 2022-2026.

RATING SENSITIVITIES

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

-- Fitch would affirm the rating and remove it from RWN if long-
    term business visibility and operating environment improve or
    if the shareholders further tangibly demonstrate their
    intention to support the company.

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

-- Sudden and near-complete cut of Russian gas supply to EU could

    lead to a negative rating action, as it would materially
    increase the risk of non-payment under ship-or-pay contracts
    in Fitch's view;

-- Failure of Gazprom (or Net4gas itself) to fulfil their long-
    term contracts obligations could imply a multi-notch
    downgrade;

-- Evidence of further significant deterioration of the business
    profile, with a permanent loss of a large part current transit

    income not replaced by alternative medium-to-long-term
    bookings or not sufficiently compensated by a more
    conservative capital structure.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: Net4gas's adequate liquidity is supported by
the cash-generative nature of its gas transport business, leading
to positive pre-dividend FCF generation, and by first debt
maturities only in 2025 (around CZK10 billion) and 2026 (around
CZK5 billion). Fitch estimates that the company can repay through
available cash and operating cashflows its 2025 and 2026 debt
maturity in Fitch's revised case.

Net4gas does not have undrawn committed credit lines, but at
end-April it had around CZK4.7 billion of cash and cash
equivalent.

ISSUER PROFILE

Net4gas is a gas TSO whose complex set of pipelines is situated on
the transit route of gas from Russia to western Europe.
Historically the domestic regulated transportation business
accounts for about 25% of total revenues, while the remaining 75%
is almost fully related to its long-term contracted international
gas transit business.

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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F R A N C E
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ILIAD SA: Moody's Rates EUR3.9BB Senior Unsecured Bonds 'Ba2'
-------------------------------------------------------------
Moody's Investors Service has assigned a Ba2 rating to the existing
EUR3.9 billion senior unsecured bonds issued by Iliad S.A.
("Iliad"), the operating subsidiary of Iliad Holding S.A.S. ("Iliad
Holding" or "the company"), a European telecommunications operator
with presence in France, Italy and Poland. Concurrently, Moody's
has affirmed Iliad Holding's  Ba3 corporate family rating,  Ba3-PD
probability of default rating and the B2 rating on the EUR3.7
billion equivalent guaranteed senior secured notes issued by Iliad
Holding. The outlook on all ratings is stable.

"The Ba2 rating assigned to Iliad S.A.'s notes is one notch above
the Ba3 corporate family rating, as the entity is closer to the
cash flow generating assets and these obligations structurally rank
ahead of liabilities at the holding company, which are rated B2,"
says Ernesto Bisagno, a Moody's Vice President - Senior Credit
Officer and lead analyst for Iliad Holding.

"While Iliad Holding's leverage is still high and market conditions
remain competitive, we have affirmed the existing ratings to
reflect the company's scale and strong market position in France,
Italy and Poland, as well as its good track record of revenue
growth," adds Mr. Bisagno.

RATINGS RATIONALE

Iliad Holding's Ba3 rating reflects: (1) the company's scale and
geographical diversification owing to the company's presence in
France, Italy and Poland; (2) its strong positioning in the French
and Polish telecom markets with a growing market share in the
Italian mobile segment; (3) its solid revenue growth rates and
margins, which remain above industry average; and (4) the
expectation of positive free cash flow (FCF) generation (before
spectrum payment) from 2022 onwards.

However, the rating also reflects: (1) the company's high leverage
with Moody's adjusted leverage expected at around 4.8x in 2022 (pro
forma for 12 months contribution from UPC Poland), following the
debt financed expansions in Italy and Poland, and the debt incurred
to fund share buybacks and the take private deal; (2) uncertainties
around the path of deleveraging and, more broadly, financial
policies going forward owing to the concentrated ownership despite
management's commitment to deleverage to below 4.0x in the short
term; (3) the highly competitive market environment; (4) the
sustained capex levels largely as a consequence of 5G investments
in France and the roll-out of its own network in Italy, which put
pressure on free cash flow generation; and (5) modest execution
risk from M&A activity.

Iliad's revenue increased materially over 2019-21, driven by a
combination of positive organic growth in Italy and France, and the
contribution from the acquisition of Play in Poland. Underlying
growth was particularly strong in 2021, with revenue and EBITDA
(before lease expenses) up by 29% and 57%, respectively (up 4.8%
and 22.3%, excluding M&A contribution), with the Italian operations
reaching EBITDA break-even for the first time since launch, driven
by stronger revenue and good progress of the network rollout plan.

Despite strong growth, the company's Moody's-adjusted FCF was
negative over 2020-21 because of high capex. In addition, Iliad
Holding's debt increased further in 2021 because of the EUR3.1
billion take-private deal and Moody's-adjusted debt/EBITDA
increased to 5.3x as of December 2021 (from 5.0x as of December
2020, pro forma for the 12 months contribution from Play). Over the
past five years, Iliad Holding's Moody's adjusted debt has
increased from EUR3.4 billion in 2016 to EUR19.3 billion in 2021,
including new debt at the holding company level.

Moody's expects Iliad's revenue to increase in the high single
digit range each year over 2022-23, driven by the contribution from
the acquired assets in Poland and positive organic growth across
all of Iliad's geographies. Moody's expects that the impact from
higher inflation will not derail profit growth, owing to a
combination of manageable staff costs and increased cost
efficiencies, offsetting higher energy costs.

In 2022, the rating agency expects FCF to turn positive (before
spectrum payment) and reach EUR150 million benefiting from stronger
EBITDA, steady working capital needs and capital spending. Iliad's
Moody's adjusted debt will remain broadly stable because the impact
from the acquisition of UPC Poland will be offset by debt
repayments with proceeds from the towers disposal.

However, there will be additional funding requirements in 2021
mainly because of spectrum payments, although this deferred
spectrum consideration is already included in Moody's adjusted
debt. Because of higher earnings, the company's Moody's-adjusted
debt/EBITDA will improve to 4.8x in 2022, and decrease towards 4.6x
by 2023, which would leave the company more adequately positioned
in the rating category.

LIQUIDITY

Iliad Holding's liquidity has tightened owing to the large cash
outflows expected over the next 12 to 18 months. These mainly
include the around EUR1 billion spectrum payment in October 2022
and the EUR650 million senior unsecured bond maturity in December
2022.

Liquidity sources include (1) cash of EUR783 million at December
31, 2021; (2) expected positive free cash flow before spectrum
payment of EUR150 million in 2022 and EUR350 million in 2023; and
(3) access to three multi-year revolving credit facilities of
EUR1,650 million (at Iliad and fully undrawn), EUR443 million
equivalent (at Play and fully undrawn) and EUR300 million
equivalent (at Iliad Holding and EUR70 million drawn at December
31, 2021), respectively.

In the first quarter of 2022, the company repaid the EUR1.2 billion
bridge to disposal facility at Iliad Holding mostly through the
EUR1,083 million proceeds from the disposal of towers. The company
has funded the EUR1.5 billion acquisition of UPC Poland through a
combination of a new EUR1.2 billion equivalent term loan at Play
level and existing cash.

While the existing liquidity sources provide some flexibility to
cover cash uses over the next 12 to 18 months, the company will
have to fully draw on its revolving credit facilities to cover all
payments after this period.  Moody's expects the company to
pro-actively address the significant funding requirements in the
near term.

There are maintenance financial covenants on Iliad's and Play's
Revolving Credit Facilities (RCF) set at 3.75x and 3.25x,
respectively. Iliad Holding's RCF includes a springing leverage of
7.0x and expected to be tested once the RCF will be more than 40%
drawn. Moody's expects headroom under the covenants to remain
adequate over the next 12 months, although to diminish at Iliad
level, due to the increased net debt following UPC Poland's
acquisition and the spectrum payment.

STRUCTURAL CONSIDERATIONS

Moody's has used the standard 50% family recovery rate assumption
given that the capital structure includes a mix of both bank loans
and bonds. The Ba2 assigned to Iliad's senior unsecured notes is
one notch above the CFR and reflects their senior ranking in the
waterfall of liabilities, as the debt at Opco level is closer to
the cash flow generating assets. The B2 instrument rating on Iliad
Holding's guaranteed senior secured notes is two notches below the
CFR, reflecting its structural subordination to the debt raised at
Play and Iliad, and the contractual subordination to the super
senior RCF at Iliad Holding.

RATIONALE FOR STABLE OUTLOOK

Due to the high leverage, Iliad Holding is currently weakly
positioned in the rating category with no headroom for operational
underperformance against current expectations. However, the stable
outlook reflects Moody's expectations that the company will be
committed to a deleveraging path and reduce its Moody's-adjusted
leverage towards 4.6x, at the latest by fiscal 2023, supported by
ongoing operating performance improvements in France, Poland and
Italy. The stable outlook also assumes that FCF will turn positive
(before spectrum payments) in 2022 and that the company will
address its funding needs in the coming months.

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

Upward rating pressure in the next 12-18 months is unlikely but
could develop if the company successfully delivers on its business
plan, showing strong and stable revenue growth as well as a
sustainable improvement in EBITDA margins. Quantitatively, that
would require Moody's adjusted debt/ EBITDA to reduce below 3.75x
and Moody's adjusted retained cash flow (RCF) to improve towards
20%.

Downward pressure on the ratings could develop if operating
performance deteriorates relative to expectations or the company
engages in large debt-financed acquisitions, such that its Moody's
adjusted debt / EBITDA remains above 4.75x; its Moody's adjusted
RCF to debt stays below 15%; or if the company fails to address its
funding requirements in the coming months.

LIST OF AFFECTED RATINGS

Affirmations:

Issuer: Iliad Holding S.A.S.

Probability of Default Rating, Affirmed Ba3-PD

LT Corporate Family Rating, Affirmed Ba3

BACKED Senior Secured Regular Bond/Debenture, Affirmed B2

Assignments:

Issuer: Iliad S.A.

Senior Unsecured Regular Bond/Debenture, Assigned Ba2

Outlook Actions:

Issuer: Iliad Holding S.A.S.

Outlook, Remains Stable

Issuer: Iliad S.A.

Outlook, Assigned Stable

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was
Telecommunications Service Providers published in January 2017.

COMPANY PROFILE

Iliad Holding is the holding company owned by Mr Xavier Niel which,
after the squeeze-out process, will fully own Iliad.

Headquartered in Paris, Iliad Holding is a leading
telecommunications operator in France, Italy and Poland, with 43.4
million subscribers and more than 15,000 employees. In 2021, the
company reported revenues of EUR7.6 billion and EBITDAaL of EUR2.95
billion.


ILIAD SA: S&P Assigns 'BB' Rating to EUR3.9BB Senior Unsecured Bond
-------------------------------------------------------------------
S&P Global Ratings assigned its 'BB' ratings to telecom operator
Iliad S.A. and the company's existing EUR3.9 billion senior
unsecured bond.

The stable outlook on Iliad mirrors that on Iliad Holding and
reflects S&P's view that the parent company's leverage should
rapidly improve toward 4x by 2023 on the strengthening of Iliad's
domestic, Italian, and Polish market positions.

Iliad, the operating entity of the Iliad group (Iliad Holding SAS;
BB/Stable/--), is France's third-largest national and converged
telecom operator. It has strengthened and diversified its market
position over the past few years, having entered Italy in 2018
through a greenfield investment and Poland in 2020-2021 with the
Play and UPC acquisitions.

S&P said, "Iliad's leverage will improve over the coming two years.
We anticipate S&P Global Ratings-adjusted debt to EBITDA of about
3.7x in 2022 following the acquisition of UPC Poland. The ratio
will gradually reduce to 3.5x in 2023 and 3.2x by 2024, including
the 0.1x-0-2x impact of the 5G spectrum commitments. This
improvement stems from ongoing absolute EBITDA and strengthening
free operating cash flow (FOCF) from considerable savings in
roaming, local loop costs, and improved business mix in Iliad's
French operations by the end of this year. We also factor in rising
EBITDA in Iliad's Italy mobile activities and its footprint
expansion and synergies in Poland with the convergence of Play's
mobile services and UPC's hybrid fixed-coaxial (HFC) network.
Additionally, Iliad's reported FOCF after leases should break even
at around EUR650 million by 2022, then increase over the following
years.

"We anticipate that Iliad will continue to show organic
mid-single-digit revenue growth., supported by mobile and fixed
network deployment in France, market share gains in Italy despite
tough competition, and the expansion of convergent services in
Poland, following the acquisition of UPC. We think Iliad's
performance will be driven by its continued expansion of its mobile
and fiber-to-the-home (FTTH) network coverage and capacity in
France. We also think rising EBITDA in Italy and a smooth
integration of UPC Poland within Play will further Iliad's revenue
growth. We expect Iliad's increasing mobile network coverage and
capacity will help it gradually terminate its costly roaming
agreement with Orange in France. Moreover, the likely steady shift
of asymmetric digital subscriber line (ADSL) customers to Iliad's
FTTH offering--strengthened by its partnership with InfraVia,
allowing access to FTTH sockets in medium- and low-density
areas--should generate hefty savings on local loop unbundling fees
paid by Iliad to Orange in dense areas. Furthermore, we note that
mobile and fixed customers are increasingly skewed toward
higher-priced contracts (EUR9.99 per month [/m] and EUR19.99/m 5G
mobile plans; EUR44.99/m FTTH broadband offering), potentially
supporting a gradual increase in average revenue per user (ARPU)
and Iliad's EBITDA margin. In addition, Iliad's launch of
business-to-business (B2B) offerings could generate revenue of
EUR400 million by 2024. We acknowledge Iliad's successful start in
Italy, reaching 8.5 million customers in less than four years
(10.9% market share). This has been underpinned by the simplicity
of its offering and its smart distribution, with limited physical
stores and a denser network of automatic kiosks. We anticipate
EBITDA after leases will continue to grow in 2022, after breaking
even in first-half 2021 as increasing customer volumes on Iliad's
network (about 50%) start to balance expensive data consumption
from customers, reflecting Iliad's low-cost, high-data-allowance
mobile offers. Iliad's arrival in Poland is recent, following its
acquisition of the country's No. 2 mobile operator Play in 2020. We
anticipate that Play's solid operating performance and cash flow,
combined with the UPC fixed network it acquired at end-2021, will
enable Iliad to strengthen its position in Poland by offering
bundled services while generating significant synergies."

Iliad is a large and diversified European telecom operator that has
strengthened its market position over the past few yearsIt is
France's third-largest national and converged operator. S&P's view
of Iliad's business risk profile is underpinned by its:

-- Increasing size and market diversification, with the
acquisition of Poland's No. 2 mobile operator (in terms of
revenues) Play and No. 2 fixed operator UPC;

-- No. 3 position in the French fixed-broadband market (revenue
market share; No. 2 in terms of subscriber share) after Orange and
SFR; and

-- Leading FTTH position in France.

As of Dec. 31, 2021, FTTH subscribers represented about 55% of
Iliad's fixed customer base in France, up from 27% in 2019. This
captures about 3.8 million subscriptions and 2.7 million net
customer additions since 2019. S&P said, "Our business risk
assessment also reflects the company's high margins (Iliad's
EBITDA-after-leases margin is 41%-42% on average in France and
around 39% on a consolidated basis, versus our reported EBITDA
after leases of 37.5% on a consolidated basis, after non-recurring
items); proven ability to innovate across various fields, including
product and service offerings, distribution, and marketing; and its
capacity to differentiate itself through attractive offerings,
while defending ARPU in a market plagued by price pressure at the
low end. We also note the company's ability to start operations
from scratch and gain critical size quickly, with a competitive
offering. In Italy, Iliad reached 10.9% subscriber market share
(8.5 million mobile customers) in less than four years while
developing its flexible distribution network."

Iliad's market positioning and service offering are strengthening,
although still trailing some of its peers'. Although Play
represents Iliad's only No. 2 position (revenue market share), the
combination and planned convergent offerings with No. 3 fixed
operator in Poland UPC should allow Iliad to strengthen its
position in Poland and drive EBITDA growth. In Italy, Iliad
launched its new fiber-to-the-home service available to 7.4 million
Italian homes in January 2022. There, it offers download speeds of
up to 5 gigabits per second with upload speeds of 700 megabits per
second at EUR15.99 per month for existing mobile customers
(EUR23.99 if not) despite having no fixed network. In France, Iliad
recently started to cover the handset segment with a leasing offer
to address this market. The lack of handset-subsidized offers--a 17
million-subscriber market not addressed in the context of rising
data consumption and considering ever-increasing smartphone usage
--was seen as a competitive disadvantage for Iliad until now. It
recently launched B2B offers in France, a market dominated by
Orange, SFR, and Bouyges Telecom. Furthermore, Iliad's mostly
digital and online distribution strategy leaves it exposed to
online advertising campaigns and aggressive promotions in France,
as happened in 2018-2019. Although Iliad has increased its physical
distribution network (158 stores at year-end 2021, from 81 in 2019,
and about 1,500 self-service kiosks for mobile SIM card
subscriptions throughout various partnerships, including
Fnac-Darty), its physical stores footprint is still about five
times smaller than closest competitor Bouygues.

Iliad's free cash flow has been hampered by material capital
expenditure (capex), spectrum payments and local loop unbundling
costs on its networks in the past, but S&P expects its free
operating cash flow (FOCF) after leases to become markedly positive
from 2022. Its investments will soar to EUR3.3 billion this year
(EUR2.1 billion in capex and EUR1.2 billion in spectrum payments),
after about EUR2.5 billion in 2021, before reducing from 2023
onward reflecting its FTTH and 5G deployments in France, network
build-up in Italy and continued network investments in Poland. The
number of connectible sockets in France increased to 25.5 million
at end-December, with its fiber plans available in more than 10,700
municipalities. At year-end 2021, Free had activated over 4,000 4G
sites with 700MHz frequencies and had the most 5G sites (all
frequencies combined) in France, with over 8,300 running sites
(including some 1,300 using 3.5GHz frequencies). In addition, group
capex rose during the first half of 2021 to secure supplies and
increase inventories of components for its set-top boxes and
electronic equipment in view of current market shortages, leading
to negative FOCF after leases in 2021. S&P expects, however, that
following Iliad's reduced reliance on Orange's network in France
(with considerable cost-savings thanks to the end of its costly
roaming agreement on Orange's 3G network) and improving customer
mix, Play's solid operating performance and synergies with UPC's
fixed network, and rising positive EBITDA after leases in Italy
will materially improve Iliad's cash flow after leases in 2022 to
about EUR650 million and should continue to increase in the
following years.

S&P assesses Iliad SA as a core subsidiary of Iliad Holding
SAS.Iliad Holding is the controlling owner of Iliad SA and solely
depends on Iliad's cash flow to service its EUR4.9 billion debt
(EUR3.7 billion now following the repayment of bridge to disposal
loan), of which about EUR3.0 billion was raised in 2021 for the
group's take-private.

S&P said, "The stable outlook mirrors that on parent company Iliad
Holding. This in turn reflects our view that Iliad's costs will
keep improving, owing to the end of the mobile roaming agreement
with Orange, the completion of its French mobile network, an
increased shift to FTTH from ADSL and to richer mobile plans from
entry-point subscription, rising EBITDA contribution in Italy, and
break-even group reported FOCF after leases by 2022. We therefore
forecast a steady decrease in adjusted leverage toward 4.0x by
2023, alongside adjusted funds from operations (FFO) to debt
improving towards 20% and adjusted FOCF to debt (net of built to
suit) to 5% over the same period.

"We could revise down our 'bb+' SACP assessment if Iliad's
financial policy becomes less conservative, management considers
sizable debt-financed acquisitions, or operating performance is
weaker than we expect. This could also stem from any unexpectedly
large setbacks from the Italian venture. In particular, adjusted
debt to EBITDA surpasses 4x for a prolonged period, FFO to debt
reduces significantly below 20%, and FOCF after leases is
continuously negative could weigh on the ratings.

"We could downgrade Iliad if we downgrade Iliad Holding. Rating
downside could come if Iliad Holding's metrics fail to strengthen
as we forecast, which could stem from any unforeseen operational
setbacks or reflect a more aggressive financial policy than we
currently expect, with more appetite for leverage or shareholder
returns.

"We could revise the SACP upward if adjusted debt to EBITDA reduces
sustainably toward 3.0x, FFO to debt improves toward 30%, and
reported FOCF after leases remains sustainably positive, while the
company expands its market position in Italy and Poland. We'd also
view positively stronger mobile and fixed positions in France.

"We could upgrade Iliad if we upgrade Iliad Holding. Rating upside
would arise if Iliad Holding's adjusted debt to EBITDA reduces
sustainably below 4.0x and reported FOCF after leases become
sustainably positive."

ESG credit indicators: E-2, S-2, G-3

Governance factors are a moderately negative consideration in S&P's
credit rating analysis of Iliad SA. Mr. Xavier Niel has sole
ownership and control of Iliad SA via Iliad Holding SAS, and can
prioritize his interests ahead of other stakeholders. This could
influence decision-making to the detriment of creditors, in S&P's
view. However, S&P notes that Iliad S.A.'s board has independent
members.





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G E R M A N Y
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PROGROUP AG: Moody's Affirms 'Ba3' CFR, Outlook Remains Stable
--------------------------------------------------------------
Moody's Investors Service has affirmed the Ba3 corporate family
rating of the German paper-based packaging producer Progroup AG and
its Ba3-PD probability of default rating. Concurrently, Moody's has
affirmed the Ba3 instrument ratings on the guaranteed senior
secured bonds maturing in 2026. The rating outlook remains stable.

RATINGS RATIONALE

The rating action reflects Progroup's successful expansion of its
own containerboard production from around 1.2 million ton in 2020
to 1.6 million ton in 2021, following the start-up of its third
paper mill PM3. The corrugated board volume also grew by 11% during
the year. Large volume expansion together with higher pricing
resulted in over 50% increase in sales and EBITDA in 2021.

While the largely debt-funded PM3 expansion in 2019-20 led to a
relatively high leverage ratio (Moody's adjusted gross debt/
EBITDA) that exceeded Moody's quantitative downgrade trigger for
the Ba3 rating in 2020, significant earnings growth last year
resulted in swift deleveraging, bringing the ratio down to 3.2x at
the year-end 2021 and thus close to the stronger end of Moody's 3x
– 4x range that Moody's view as appropriate for Progroup's
existing rating. A track record of high profit margins combined
with strengthened leverage positions Progroup strongly in the Ba3
rating category.  For positive rating pressure to build, Moody's
would need to have more visibility as to the impact of the current
conflict in Ukraine, in particular on Germany's energy mix and cost
as well as for Progroup to rebuild its liquidity buffer after the
distribution of the proposed EUR80 million of dividends in 2022.

The macroeconomic environment became much more uncertain following
Russia's invasion of Ukraine that has further exacerbated cost
inflation and volatility in energy costs. While Progroup
conservatively hedges its energy requirements and benefits from the
in-house energy production of its refuse derived fuel (RDF) power
plant located next to PM2, its production is highly energy
intensive with over a third of the energy mix coming from natural
gas. In absence of larger distortions in the energy markets,
Moody's assume that Progroup would be able to maintain its high
profitability margins (Moody's adjusted EBITDA margin of around 21%
in 2021) given the modern and energy-efficient asset base and also
the company's focus on a more capital-intensive part of the value
chain.

Moody's view the proposal to distribute EUR80 million in dividends
in 2022 as relatively aggressive, admitting however that the return
into the company's own target net leverage range of 2.5x – 3.0x
(2.9x in 2021) occurred quicker than expected and that the level of
dividend distribution is unlikely to be maintained in following
years. At the same time, Progroup will continue to expand its
manufacturing footprint having two corrugators under construction
now and two in planning as well as planning a new power plant next
to PM3. Therefore, Moody's believe its free cash flow generation
will be limited in coming years.  

The rating is mainly supported by (1) the company's high
profitability as Moody's-adjusted EBITDA margin was around 24% on
average over the last five years, which is above industry standards
and even ahead of that of market leaders; (2) cost-efficient asset
base that is technically advanced and conveniently located to limit
transport costs; (3) solid credit metrics currently as earnings
uplift following the ramp up of the third paper mill (PM3) resulted
in a swift deleveraging in 2021; and (4) financial policy that
includes a net leverage target range of 2.5x – 3.0x (2.9x in
2021), which is largely commensurate with a low Ba rating.

The rating is primarily constrained by (1) the company's modest
scale, narrow product range and geographical diversification
compared to its larger peers, such as Smurfit Kappa Group plc (Baa3
stable); (2) some degree of operational risk because its own
containerboard products come from three mills in Germany; (3)
increased macroeconomic uncertainty following Russia's invasion of
Ukraine and high cost inflation, especially in energy, challenging
Progroup's high profitability margins; and (4) risk of further debt
funded expansion over the coming years, which can lead to periods
when the company deviates from its target leverage range as was the
case in 2020-21.

RATIONALE FOR STABLE OUTLOOK

The stable outlook reflects Moody's expectation that Progroup will
continue to operate with the Moody's-adjusted EBITDA margin around
the 20 percent and its Moody's adjusted gross leverage will be
close to the stronger end of the 3x – 4x range Moody's view as
appropriate for the existing rating.

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

Positive rating pressure could arise if:

Moody's-adjusted gross debt/ EBITDA were below 3x on a sustained
basis;

Moody's-adjusted EBITDA margin at least in the high teens in
percentage points;

Moody's-adjusted retained cash flow/ debt were above 20% on a
sustained basis;

Rebuilding its liquidity buffer after having paid the proposed
EUR80 million dividends in 2022

Conversely, negative rating pressure could arise if:

Moody's-adjusted gross debt/ EBITDA were above 4x on a sustained
basis;

Moody's-adjusted EBITDA margin were to decline towards mid-teens
in percentage points;

Deterioration in liquidity profile.

LIQUIDITY

Progroup's liquidity profile is adequate. The company reported
EUR100 million of cash on balance sheet as of year-end 2021 and
EUR50 million undrawn revolving credit facility (RCF) maturing in
2024. In addition, the group has access to an up to EUR30 million
forfaiting program, although Moody's consider it less reliable than
cash or the RCF. Moody's expect that Progroup's proposed EUR80
million dividend distribution will significantly tighten its
liquidity in 2022. However, Moody's expect its capex spending in
the next 12-18 months to be lower than in 2020, when investments
were high because of the PM3 expansion, but higher than in 2021 and
will likely be covered by internal cash generation excluding the
proposed dividend distribution.

STRUCTURAL CONSIDERATION

The guaranteed senior secured notes issued by Progroup are rated
Ba3, in line with the CFR. This is primarily because senior secured
debt constitutes most of the company's outstanding liabilities, and
there is only a EUR50 million super senior revolving facility that
ranks ahead of the bonds in Moody's loss given default waterfall.
The size of the facility is too small to cause the notching of the
bonds below the CFR. The guarantor pool is strong and consist of
all material subsidiaries representing 90% of revenue, 97% of
EBITDA and 97% of assets as of December 2021. The notes are secured
by first-ranking liens over the shares of the issuer, certain real
property, certain bank accounts, and certain fixed and other
assets.

ESG CONSIDERATIONS

Moody's believes that environmental and social risks of Progroup
are broadly similar to those of the paper and forest products
industry's environmental and social risks that Moody's consider to
be moderately negative. They mainly reflect Progroup's
manufacturing process with exposure to waste and pollution risks
and health and safety issues. These risks are mitigated to a degree
by the company's commitment to reduce carbon emissions and the fact
that it has among the most technically advanced and energy
efficient production plants in the industry.

The governance related risks mainly reflect the fact that Progroup
is a family-owned company, targeting a moderate level of financial
leverage defined as 2.5x – 3.0x net leverage.

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Paper and
Forest Products published in December 2021.

COMPANY PROFILE

Headquartered in Landau, Germany, Progroup AG (Progroup) is one of
the leading European paper-based packaging companies focusing on
the production of containerboard and its conversion into corrugated
board. The company owns three containerboard mills in Germany and
11 corrugated board plants across six European countries, as well
as one combined heat and power plant in Eisenhüttenstadt, Germany.
In 2021, Progroup generated EUR1.4 billion in revenue and employed
around 1,550 people. The company is family owned and Juergen
Heindl, who founded Progroup in 1992, is its CEO.




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I R E L A N D
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DRYDEN 96 2021: S&P Assigns Prelim. B-(sf) Rating on Cl. F Notes
----------------------------------------------------------------
S&P Global Ratings assigned preliminary credit ratings to Dryden 96
Euro CLO 2021 DAC's class A to F European cash flow CLO notes. At
closing, the issuer will issue unrated subordinated notes.

Under the transaction documents, the rated notes will pay quarterly
interest unless a frequency switch event occurs. Following this,
the notes will permanently switch to semiannual payments.

The portfolio's reinvestment period will end approximately two
years after closing, and the non-call period will end one year
after closing.

The preliminary ratings reflect S&P's assessment of:

-- The diversified collateral pool, which primarily comprises
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.

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

-- The transaction's legal structure, which S&P expects to be
bankruptcy remote.

-- The transaction's counterparty risks, which S&P expects to be
in line with its counterparty rating framework.

  Portfolio Benchmarks
                                                           CURRENT
  S&P weighted-average rating factor                      2,924.10
  Default rate dispersion                                   384.67
  Weighted-average life (years)                               5.41
  Obligor diversity measure                                 105.66
  Industry diversity measure                                 25.38
  Regional diversity measure                                  1.20

  Transaction Key Metrics
                                                           CURRENT
  Portfolio weighted-average rating
    derived from S&P's CDO evaluator                             B
  'CCC' category rated assets (%)                             1.91
  'AAA' weighted-average recovery (%)                        35.28
  Floating-rate assets (%)                                   80.40
  Weighted-average spread (net of floors; %)                  4.17

S&P said, "We understand that at closing the portfolio will be
well-diversified, primarily comprising broadly syndicated
speculative-grade senior-secured term loans and senior-secured
bonds. Therefore, we have conducted our credit and cash flow
analysis by applying our criteria for corporate cash flow CDOs."

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

The issuer may purchase loss mitigation obligations using either
interest proceeds, principal proceeds, or amounts standing to the
credit of the supplemental reserve account. The use of interest
proceeds to purchase loss mitigation obligations are subject to all
the interest coverage tests passing following the purchase and the
manager determining there are sufficient interest proceeds to pay
interest on all the rated notes on the upcoming payment date
including senior expenses. The usage of principal proceeds is
subject to the following conditions:

-- The par coverage tests passing following the purchase, other
than the class F par coverage tests. As a result, S&P has assumed
no credit given to the class F par coverage and interest diversion
tests under its cash flow modelling analysis.

-- The obligation meeting the restructured obligation criteria.

-- The obligation being pari passu or senior to the obligation
already held by the issuer.

-- Its maturity falling before the rated notes' maturity date.

-- It was not purchased at a premium.

S&P said, "In our cash flow analysis, we used the EUR400 million
target par amount, the covenanted weighted-average spread (4.05%),
and the covenanted weighted-average coupon (4.50%) as indicated by
the collateral manager. We have assumed weighted-average recovery
rates, at all rating levels, in line with the recovery rates of the
actual portfolio presented to us. 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.

"Our credit and cash flow analysis show that the class B-1, B-2,
and C notes benefit from break-even default rate (BDR) and scenario
default rate cushions that we would typically consider to be in
line with higher ratings than those 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
preliminary ratings on the notes.

"The class F notes' current BDR cushion is a negative cushion at
the current rating level. Nevertheless, based on the portfolio's
actual characteristics and additional overlaying factors, including
our long-term corporate default rates and recent economic outlook
we believe this class is able to sustain a steady-state scenario,
in accordance with our criteria." S&P's analysis further reflects
several factors, including:

-- The class F notes' available credit enhancement, which is in
the same range as that of other CLOs S&P has rated and that has
recently been issued in Europe.

-- S&P's model-generated portfolio default risk, which is at the
'B-' rating level at 24.02% (for a portfolio with a
weighted-average life of 5.41 years) versus 16.76% if it was to
consider a long-term sustainable default rate of 3.1% for 5.41
years.

-- Whether the tranche is vulnerable to nonpayment in the near
future.

-- If there is a one-in-two chance for this note to default.

-- If S&P envisions this tranche to default in the next 12-18
months.

-- Following this analysis, S&P considers that the available
credit enhancement for the class F notes is commensurate with the
assigned preliminary 'B- (sf)' rating.

S&P said, "Until the end of the reinvestment period on June 15,
2024, the collateral manager may substitute assets in the portfolio
for so long as our CDO Monitor test is maintained or improved in
relation to the initial ratings on the notes. This test looks at
the total amount of losses that the transaction can sustain as
established by the initial cash flows for each rating, and it
compares that with the current portfolio's default potential plus
par losses to date. As a result, until the end of the reinvestment
period, the collateral manager may through trading deteriorate the
transaction's current risk profile, as long as the initial ratings
are maintained.

"Under our structured finance sovereign risk criteria, we consider
that the transaction's exposure to country risk is sufficiently
mitigated at the assigned preliminary ratings.

"At closing, 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.

"We expect the transaction's legal structure and framework to be
bankruptcy remote, in line with our legal criteria.

"Following our analysis of the credit, cash flow, counterparty,
operational, and legal risks, we believe our preliminary ratings
are commensurate with the available credit enhancement for the
class A to F 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
publication, "How Credit Distress Due To COVID-19 Could Affect
European CLO Ratings," published on April 2, 2020.

"As our ratings analysis makes additional considerations before
assigning ratings in the 'CCC' category, and we would assign a 'B-'
rating if the criteria for assigning a 'CCC' category rating are
not met, we have not included the above scenario analysis results
for the class F notes "Criteria For Assigning 'CCC+', 'CCC',
'CCC-', And 'CC' Ratings," published on Oct. 1, 2012."

Environmental, social, and governance (ESG)

S&P said, "We regard the exposure to ESG credit factors in the
transaction as being broadly in line with our benchmark for the
sector. Primarily due to the diversity of the assets within CLOs,
the exposure to environmental credit factors is viewed as below
average, social credit factors are below average, and governance
credit factors are average. For this transaction, the documents
prohibit assets from being related to the following industries:
production or marketing of controversial weapons; production of
nuclear weapons or thermal coal production; the extraction of
thermal coal and fossil fuels from unconventional sources;
extraction of petroleum via fracking; the production of or trade in
pornography, adult entertainment, or prostitution; and the sale or
promotion of marijuana. Accordingly, since the exclusion of assets
from these industries does not result in material differences
between the transaction and our ESG benchmark for the sector, no
specific adjustments have been made in our rating analysis to
account for any ESG-related risks or opportunities."

The transaction securitizes a portfolio of primarily senior-secured
leveraged loans and bonds, and it will be managed by PGIM Loan
Originator Manager Ltd.

  Ratings List

  CLASS    PRELIM.    PRELIM.     INTEREST RATE (%)   CREDIT
           RATING     AMOUNT                          ENHANCEMENT
                     (MIL. EUR)                          (%)
      
   A       AAA (sf)    244.00     Three/six-month       39.00
                                  EURIBOR + 1.10

   B-1     AA (sf)      10.00     Three/six-month       29.50   
                                  EURIBOR + 2.25

   B-2     AA (sf)      28.00     3.00                  29.50

   C       A (sf)       28.00     Three/six-month       22.50
                                  EURIBOR + 3.30

   D       BBB (sf)     27.00     Three/six-month       15.75
                                  EURIBOR + 4.30

   E       BB- (sf)     22.00     Three/six-month       10.25
                                  EURIBOR + 6.58

   F       B- (sf)      12.00     Three/six-month        7.25
                                  EURIBOR + 8.47

   Subordinated  NR     30.30     N/A                     N/A

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


INVESCO EURO VIII: Moody's Gives (P)B3 Rating to Class F Notes
--------------------------------------------------------------
Moody's Investors Service announced that it has assigned the
following provisional ratings to notes to be issued by Invesco Euro
CLO VIII DAC (the "Issuer"):

EUR248,000,000 Class A Senior Secured Floating Rate Notes due
2036, Assigned (P)Aaa (sf)

EUR30,600,000 Class B-1 Senior Secured Floating Rate Notes due
2036, Assigned (P)Aa2 (sf)

EUR11,000,000 Class B-2 Senior Secured Fixed Rate Notes due 2036,
Assigned (P)Aa2 (sf)

EUR20,800,000 Class C Senior Secured Deferrable Floating Rate
Notes due 2036, Assigned (P)A2 (sf)

EUR27,200,000 Class D Senior Secured Deferrable Floating Rate
Notes due 2036, Assigned (P)Baa3 (sf)

EUR21,400,000 Class E Senior Secured Deferrable Floating Rate
Notes due 2036, Assigned (P)Ba3 (sf)

EUR11,400,000 Class F Senior Secured Deferrable Floating Rate
Notes due 2036, 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 Moody's methodology.

Class F notes are amortised partially through the interest
waterfall. 20% of all remaining interest proceeds available for
distribution to subordinated noteholders will be used to redeem the
Class F notes.

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 senior unsecured obligations,
second-lien loans, mezzanine obligations and high yield bonds. The
portfolio is expected to be 80% ramped up 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 six month ramp-up period in compliance with the
portfolio guidelines.

Invesco CLO Equity Fund IV L.P. 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 five-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 EUR30,500,000 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.

Methodology underlying the rating action:

The principal methodology used in these ratings was "Moody's Global
Approach to Rating Collateralized Loan Obligations" published in
December 2021.

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 December 2021.

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

Par Amount: EUR400,000,000

Diversity Score: 48

Weighted Average Rating Factor (WARF): 2950

Weighted Average Spread (WAS): 3.95%

Weighted Average Coupon (WAC): 5.00%

Weighted Average Recovery Rate (WARR): 44.00%

Weighted Average Life (WAL) (*): 8.075 years


OAK HILL III: Moody's Affirms B3 Rating on EUR12MM Class F-R Notes
------------------------------------------------------------------
Moody's Investors Service has upgraded the ratings on the following
notes issued by Oak Hill European Credit Partners III Designated
Activity Company:

EUR25,500,000 Class B-1R Senior Secured Floating Rate Notes due
2030, Upgraded to Aaa (sf); previously on Jul 14, 2021 Upgraded to
Aa1 (sf)

EUR15,800,000 Class B-2R Senior Secured Fixed Rate Notes due 2030,
Upgraded to Aaa (sf); previously on Jul 14, 2021 Upgraded to Aa1
(sf)

EUR8,700,000 Class B-3R Senior Secured Floating Rate Notes due
2030, Upgraded to Aaa (sf); previously on Jul 14, 2021 Upgraded to
Aa1 (sf)

EUR22,500,000 Class C-R Senior Secured Deferrable Floating Rate
Notes due 2030, Upgraded to Aa3 (sf); previously on Jul 14, 2021
Upgraded to A1 (sf)

EUR20,000,000 Class D-R Senior Secured Deferrable Floating Rate
Notes due 2030, Upgraded to A3 (sf); previously on Jul 14, 2021
Upgraded to Baa1 (sf)

Moody's has also affirmed the ratings on the following notes:

EUR222,200,000 (current outstanding amount EUR138.6m) Class A-1R
Senior Secured Floating Rate Notes due 2030, Affirmed Aaa (sf);
previously on Jul 14, 2021 Affirmed Aaa (sf)

EUR15,800,000 (current outstanding amount EUR9.9m) Class A-2R
Senior Secured Fixed/Floating Rate Notes due 2030, Affirmed Aaa
(sf); previously on Jul 14, 2021 Affirmed Aaa (sf)

EUR28,000,000 Class E-R Senior Secured Deferrable Floating Rate
Notes due 2030, Affirmed Ba2 (sf); previously on Jul 14, 2021
Affirmed Ba2 (sf)

EUR12,000,000 Class F-R Senior Secured Deferrable Floating Rate
Notes due 2030, Affirmed B3 (sf); previously on Jul 14, 2021
Affirmed B3 (sf)

Oak Hill European Credit Partners III Designated Activity Company,
issued in June 2015 and reset in July 2017, is a collateralised
loan obligation (CLO) backed by a portfolio of mostly high-yield
senior secured European loans. The portfolio is managed by Oak Hill
Advisors (Europe), LLP. The transaction's reinvestment period ended
in July 2021.

RATINGS RATIONALE

The rating upgrades on the Class B-1R, B-2R, B-3R, C-R and D-R
notes are primarily a result of the significant deleveraging of the
senior notes following amortisation of the underlying portfolio
since the last rating action in July 2021.

The Class A-1R and A-2R notes have paid down by approximately
EUR83.6 million (37.6%) and 5.9 million (37.6%), respectively,
since the last rating action in July 2021. As a result of the
deleveraging, over-collateralisation (OC) has increased across the
capital structure. According to the trustee report dated April 2022
[1] the Class A/B, Class C, Class D and Class E OC ratios are
reported at 151.3%, 136.5%, 125.61% and 113.0% compared to June
2021 levels [2] of 136.4%, 126.5%, 118.9% and 109.6%, respectively.
Moody's notes that the April 2022 principal payments are not
reflected in the reported OC ratios.

The key model inputs Moody's uses in its analysis, such as par,
weighted average rating factor, diversity score and the weighted
average recovery rate, are based on its published methodology and
could differ from the trustee's reported numbers.

In its base case, Moody's used the following assumptions:

Performing par and principal proceeds balance: EUR 305.1 million

Defaulted Securities: EUR228.7k

Diversity Score: 44

Weighted Average Rating Factor (WARF): 3001

Weighted Average Life (WAL): 3.88 years

Weighted Average Spread (WAS) (before accounting for Euribor
floors): 3.60%

Weighted Average Coupon (WAC): 5.25%

Weighted Average Recovery Rate (WARR): 44.90%

Par haircut in OC tests and interest diversion test: Nil

The default probability derives from the credit quality of the
collateral pool and Moody's expectation of the remaining life of
the collateral pool. The estimated average recovery rate on future
defaults is based primarily on the seniority of the assets in the
collateral pool. In each case, historical and market performance
and a collateral manager's latitude to trade collateral are also
relevant factors. Moody's incorporates these default and recovery
characteristics of the collateral pool into its cash flow model
analysis, subjecting them to stresses as a function of the target
rating of each CLO liability it is analysing.

Methodology Underlying the Rating Action:

The principal methodology used in these ratings was "Moody's Global
Approach to Rating Collateralized Loan Obligations" published in
December 2021.

Counterparty Exposure:

The rating action took into consideration the notes' exposure to
relevant counterparties, such as account bank, using the
methodology "Moody's Approach to Assessing Counterparty Risks in
Structured Finance" published in May 2021. Moody's concluded the
ratings of the notes are not constrained by these risks.

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.

Additional uncertainty about performance is due to the following:

Portfolio amortisation: The main source of uncertainty in this
transaction is the pace of amortisation of the underlying
portfolio, which can vary significantly depending on market
conditions and have a significant impact on the notes' ratings.
Amortisation could accelerate as a consequence of high loan
prepayment levels or collateral sales by the collateral manager or
be delayed by an increase in loan amend-and-extend restructurings.
Fast amortisation would usually benefit the ratings of the notes
beginning with the notes having the highest prepayment priority.

Recovery of defaulted assets: Market value fluctuations in
trustee-reported defaulted assets and those Moody's assumes have
defaulted can result in volatility in the deal's
over-collateralisation levels.  Further, the timing of recoveries
and the manager's decision whether to work out or sell defaulted
assets can also result in additional uncertainty. Moody's analysed
defaulted recoveries assuming the lower of the market price or the
recovery rate to account for potential volatility in market prices.
Recoveries higher than Moody's expectations would have a positive
impact on the notes' ratings.


PREMIER PERICLASE: Exits Examinership After Survival Scheme OK'd
----------------------------------------------------------------
Aodhan O'Faolain at The Irish Times reports that the High Court has
approved a survival scheme that will allow Premier Periclase Ltd, a
Co Louth-based company that makes magnesium-based heat-resistant
products, to successfully exit examinership.

Late last year, Premier Periclase was granted the protection of the
courts and Neil Hughes was appointed as examiner to the company,
which required a large amount of gas to generate the energy it
needs to make its products, The Irish Times recounts.

It had been successful for many years, but got into difficulties
due to the dramatic rise of gas and energy prices over the last
year, The Irish Times notes.

Premier Periclase Ltd is a specialist and world leader in making
magnesium oxide and magnesium hydroxide products used in the
manufacture of heat-resistant lining for furnaces.

Previously, the court heard that Premier Periclase owed Bord Gais
EUR2.5 million and electricity supplier Energia EUR900,000, The
Irish Times relays.

When seeking the protection of the courts last December, the
company claimed that Bord Gais had threatened to cut off its supply
unless it made a substantial payment, The Irish Times discloses.

According to The Irish Times, the company said it was unable to
make the payment sought, rendering it insolvent and unable to pay
its debts.

On May 20, Mr. Justice Brian O'Moore said he was satisfied to
approve a scheme of arrangement put together by the firm's
examiner, Mr. Hughes of Baker Tilly, The Irish Times relates.

Gary McCarthy SC for Mr. Hughes said there were no objections to
the scheme being approved, The Irish Times notes.

The judge, in approving the scheme, which will see the company
continue to trade as a going concern, praised the professionalism
of Mr. Hughes and his team for getting the survival plan over the
line, The Irish Times states.

Under the terms of the scheme, which will see fresh investment come
into the company, the company will switch from using natural gas to
renewable energy sources, according to The Irish Times.

However, it will take it 18 months to complete that switch, The
Irish Times notes.

The court heard this will see approximately half of its 94 workers
being made redundant, The Irish Times discloses.




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

TEAMSYSTEM SPA: S&P Assigns 'B-' LongTerm ICR, Outlook Stable
-------------------------------------------------------------
S&P Global Ratings assigned its 'B-' long term issuer rating to
Italian software provider TeamSystem SpA after the reverse merger
with its immediate parent Brunello Bidco SpA. S&P subsequently
withdrew its ratings on Brunello Bidco.

The stable outlook reflects S&P's view that TeamSystem's revenue
will increase 7%-9% organically in 2022-2023 on the back of the
growing digitalization trend, coupled with slight margin expansion.
Additionally, TeamSystem will continue to use its cash flow and
available revolving credit facility (RCF) to pursue bolt-on
acquisitions to drive revenue and EBITDA growth. This will lead to
S&P Global Ratings-adjusted leverage decreasing toward 8x and free
operating cash flow (FOCF) to debt of more than 5% in 2022.

Strong deleveraging prospects, supported by bolt-on acquisitions
and sound micro-business growth, but rating upside is constrained
by the company's aggressive financial policy. S&P said,
"TeamSystem's pro forma revenue increased by more than 15% to
EUR486 million in 2021, in line with our previous base case, thanks
to a series of bolt-on acquisitions and continued double-digit
growth in micro-businesses. Reported revenue would be much higher,
however, at EUR538 million, if we included the full-year impact of
the completed bolt-on acquisitions in 2021. Meanwhile the
acquisitions did not have a material impact on TeamSystem's
profitability, with its S&P Global Ratings-adjusted EBITDA margin
of 34% in 2021, compared with 35.4% in 2020. That said,
TeamSystem's leverage remained high at 10.4x in 2021 compared with
about 10x in 2020 on a pro forma basis. This is because a sizable
portion of funding for the bolt-on acquisitions are from drawing
the existing EUR180 million RCF and earn out liabilities, which we
treat as debt. As of December 2021, TeamSystem has drawn EUR75
million of the committed RCF and has earn out liabilities of more
than EUR80 million. TeamSystem also intends to use the remaining
undrawn RCF for further acquisitions. We therefore think the
company's financial policy on acquisitions could limit its
deleveraging prospects and thus constrains rating upside."

A resilient business model, supported by the company's
mission-critical products and high recurring revenue. S&P thinks
TeamSystem's enterprise resource planning (ERP) solutions are
mission critical for small and midsize enterprises (SMEs) and
professionals, and are deeply embedded in their operations,
resulting in relatively high switching costs, considering the
training and implementation required for new software suites and
associated risks on data migration. The company's business
resilience also stems from its high share of recurring revenue, at
about 82%, and very low customer concentration. Given the ongoing
digitalization and move to the cloud, as well as state support
under Italy's national recovery and resilience plan, S&P thinks
TeamSystem's recurring revenue will further outpace license sales,
leading to better earnings visibility and stability.

Limited geographical diversification and strong focus on SMEs
constrains the company's business risk profile. S&P said, "We think
TeamSystem's almost sole reliance on the Italian ERP market makes
it more vulnerable to local regulation changes and competition
compared with larger and diversified software vendors. The risk
could be exacerbated given the company's strong focus on SMEs,
particularly on micro businesses, which has been a key organic
revenue growth driver in the past three years. Although we think
the company's strategy is consistent with the market dynamics,
since the vast majority of Italian SMEs are micro businesses, we
think higher failure rates of micro businesses could weigh on
TeamSystem's customer churn rate and increase its revenue and
earnings volatility. This is evidenced by TeamSystem's increased
overall churn rate of 10% in 2021 compared with less than 8% in
2020."

Outlook

The stable outlook reflects S&P's view that TeamSystem's revenue
will increase 7%-9% organically in 2022-2023 on the back of the
growing digitalization trend, coupled with slight margin expansion.
Additionally, TeamSystem will continue to utilize its cash flow and
available RCF to pursue bolt-on acquisitions to drive revenue and
EBITDA growth. This will lead to S&P Global Ratings-adjusted
leverage decreasing toward 8x and FOCF to debt of more than 5% in
2022.

Downside scenario

S&P said, "We see rating downside as remote, given the company's
sound liquidity and cash flow generation. We could lower the rating
if TeamSystem's FOCF turns negative and remains that way for a long
period, or if it experiences liquidity pressure or tight covenant
headroom of less than 10%." This could happen if the company loses
customers due to increased competition and economic volatility.

Upside scenario

S&P could raise the rating if TeamSystem pursues a relatively
prudent financial policy, leading to:

-- Adjusted leverage falling below 8x; and
-- FOCF to debt staying higher than 5% on a sustained basis.

ESG credit indicators: E-2, S-2, G-3




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

WEBPROS: Moody's Hikes CFR to B2, Outlook Stable
------------------------------------------------
Moody's Investors Service has upgraded Particle Investments
S.a.r.l.'s (WebPros or the company) corporate family rating to B2
from B3 and its probability of default rating to B2-PD from B3-PD.
Concurrently, the rating agency has affirmed the B2 instrument
rating on the backed senior secured first lien term loan and the
backed senior secured first lien revolving credit facility (RCF).
The outlook on all ratings has been changed to stable from
positive.

"The upgrade largely reflects the continued strong operating
performance of the company boosted by recurring price adjustments.
This had a led to rapid deleveraging following the LBO and good
free cash flow levels" says Luigi Bucci, Moody's lead analyst for
WebPros.

"While the company is expected to slow-down its EBITDA growth
trajectory over 2022 on the back of an increased cost base, credit
metrics will continue to strengthen within the B2 rating category"
adds Mr Bucci.

RATINGS RATIONALE

WebPros' B2 CFR is mainly supported by (1) the company's strong
position in the niche market for web hosting control panels; (2)
its strong renewal rates and limited churn; (3) the risks and costs
for web hosting providers in changing control panels; and (4) the
company's strong revenue and EBITDA growth following recurring
product adjustments; and (5) good liquidity profile boosted by good
free cash flow (FCF) generation.

However, the credit quality of the company is primarily constrained
by (1) its high Moody's-adjusted leverage of 5.0x over the last
twelve months (LTM) to March 2022; (2) the company's small
addressable market; (3) its limited portfolio offering, mainly
concentrated on two similar products; (4) the reliance of its sales
strategy on large web hosting partners; and (5) increasing cost
base in 2022, limiting EBITDA growth over the year.

Since the company's LBO transaction closed in May 2020, WebPros has
focused its financial strategy on continued price adjustments of
its two main products because the company understands its product
offering has been historically underpriced. The change in pricing
strategy had a sizeable impact on the company's 2021 performance,
besides its organic growth, leading to a revenue growth of 21%.
Additional price adjustments will also support top-line growth in
the high single digit percentages over 2022 and likely in 2023.

The rating agency expects WebPros' cost base to continue to be
affected by the hiring of new technical staff to increase the
investment in R&D but also the relocation of staff from Russia to
Bulgaria coupled with underlying wage inflation. As a consequence,
Moody's forecasts company-adjusted EBITDA margin to decline to
around 58%-59% in 2022-23 from 63% in 2021 leading to a
company-adjusted EBITDA of around $125-135 million over the same
timeframe (2021: $126 million). EBITDA evolution will be slower
than the top-line in 2022 leading to a low-single digit growth in
percentage terms before an acceleration in 2023.

Moody's forecasts WebPros' Moody's adjusted leverage to decline to
below 5x in 2022 and reduce further in 2023 (2021: 5.4x), driven by
EBITDA improvements. These forecasts do not factor in any
additional debt reductions besides the 1% first-lien mandatory debt
repayment. The company has, however, demonstrated a positive
track-record of debt prepayments over the past 24 months. The
rating agency notes that additional reductions in leverage,
particularly at current levels, will be dependent upon debt-funded
M&A risk, as the company continues to target inorganic growth.

Moody's estimates that FCF will continue to improve, particularly
in 2023, supported by (1) organic EBITDA growth; (2) the absence of
major working capital requirements because of monthly subscription
billings; and (3) limited capital spending, which will average 1%
of revenue in 2022-23. The rating agency notes that a portion of
the company's debt is hedged until June 2023 mitigating temporarily
the impact from the higher interest rate environment. This is
likely to translate into a Moody's-adjusted FCF/debt in the
low-teens in both 2022 and 2023 (2021: 8.5%).

ENVIRONMENTAL, SOCIAL AND GOVERNANCE CONSIDERATIONS

Moody's has considered in its analysis of WebPros the following
environmental, social and governance (ESG) considerations. In terms
of governance, CVC holds a stake of 40% and controls the board of
directors of the company. The remaining shareholders are
represented by Oakley Capital (22%) together with management,
founders and other investors (38%).

Since the LBO transaction and the resulting very high opening
leverage, WebPros' financial policy has been more creditor-friendly
with strong deleveraging and excess cash flow used to voluntarily
repay debt. The rating agency currently does not assume in its
analysis large debt-funded acquisitions, such as WebPros'
acquisition of cPanel in 2018, but small bolt-on transactions to
support growth remain likely. At the same time, Moody's considers
WebPros' social risks to be relatively low. WebPros does not own
the data of individual end-users although has access to the list of
websites running on servers using their solutions.

LIQUIDITY

Moody's views WebPros' liquidity as good. Cash balances at March
2022 stood at $31 million, further supported by the undrawn $60
million RCF, due 2025. The rating agency forecasts WebPros to
generate positive free cash flow in a range of $60 million - $70
million on an annual basis over 2022-23, supporting the overall
liquidity profile of the business.

The RCF is subject to a springing senior net leverage covenant set
at 9.0x, tested if drawings under the RCF exceed 40%. Moody's
expect the company to have sizeable headroom under the covenant.
WebPros has no significant maturity in the near term, with the
outstanding $499 million backed senior secured first-lien term loan
and the $108 million second-lien term loan maturing in 2027 and
2028, respectively.

STRUCTURAL CONSIDERATIONS

The B2-PD PDR reflects Moody's assumption of a 50% family recovery
rate, given the covenant-lite structure of the backed senior
secured first-lien term loan. The B2 ratings on the first lien term
loan and the RCF are in line with the CFR reflecting the rating
agency's assumption that the relatively low level of second lien
debt in the structure, based on track record to date, will likely
reduce further through additional prepayments.

The security package includes a pledge of shares, bank accounts and
intercompany receivables. The instruments are guaranteed by the
borrower and material subsidiaries representing a minimum of 80% of
consolidated EBITDA. There is a floating charge granted by English
borrowers and obligors under the laws of the United States will
grant customary all-asset security.

RATIONALE FOR STABLE OUTLOOK

The stable outlook reflects Moody's view that WebPros' revenue and
EBITDA will continue to grow over the next 12-18 months supported
by recurring price adjustments and organic volume growth. As a
result, the rating agency expects Moody's-adjusted debt/EBITDA to
decline to below 5x by 2022 and Moody's-adjusted FCF/debt to
increase above 10% on a sustainable basis over the same time frame.
The stable outlook also incorporates Moody's expectation that there
will be no transformational acquisition nor dividend distribution.

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

The company's modest size and limited product diversification
constrain the upside potential on the rating. However, positive
rating pressure could develop if WebPros continues to grow its
revenue base as well as demonstrate progress in improving its
degree of diversification such that its (1) Moody's-adjusted
debt/EBITDA reduces to around 4x on a sustainable basis; (2)
Moody's-adjusted FCF/debt moves sustainably towards 15%; and (3)
the company were to continue executing its pricing strategy,
without any deterioration in customer attrition.

Moody's would consider a rating downgrade if WebPros' operating
performance were to weaken significantly on the back of increased
customer attrition. The rating would also come under negative
pressure if (1) Moody's-adjusted leverage were to increase over 6x;
(2) Moody's-adjusted FCF/debt fails to remain in the high-single
digit percentages; or (3) liquidity weakens.

LIST OF AFFECTED RATINGS

Upgrades:

Issuer: Particle Investments S.a.r.l.

Probability of Default Rating, Upgraded to B2-PD from B3-PD

LT Corporate Family Rating, Upgraded to B2 from B3

Affirmations:

Issuer: Particle Investments S.a.r.l.

BACKED Senior Secured Bank Credit Facility, Affirmed B2

Outlook Actions:

Issuer: Particle Investments S.a.r.l.

Outlook, Changed To Stable From Positive

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Software
Industry published in August 2018.

COMPANY PROFILE

Headquartered in Luxembourg, WebPros is a global web server
automation software provider, created through the combination of
the web hosting control panels Plesk and cPanel. The group also
acquired WHMCS, a web host billing automation and customer
management solution, in May 2019. The company offers a portfolio of
tools that automate and simplify the development, management and
administration of web servers through its channel of more than
2,800 hosting partners worldwide. In 2021, WebPros reported revenue
of $200 million and company-adjusted EBITDA of $126 million.




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

ASIA INSURANCE: S&P Assigns 'B-' ICR, Outlook Positive
------------------------------------------------------
S&P Global Ratings assigned its 'B-' local currency long-term
financial strength rating to Uzbekistan-based Kompaniyasi JSC (Asia
Insurance or AI). The outlook is positive.

S&P said, "In our view, AI's creditworthiness is underpinned by
satisfactory levels of capital compared with business type and
volume of premiums it writes. However, in our view, capital is
small in absolute size and compared with higher rated international
insurers, and is also exposed to volatility that can be caused by
exposure to speculative-grade assets and commercial real estate."
The ratings also reflect AI's relatively weak position in
Uzbekistan's P/C insurance market, although with growth potential.
AI has a very limited market share in Uzbekistan of less than 2% in
full-year 2021, although it was established in 2005 and has
operated profitably since then. It showed modest premium growth of
8% in 2021 versus market growth of 60%. Its absolute size remains
very small in a global context (with about Uzbekistani sum (UZS)55
billion or less than $5 million in gross premiums written for
2021).

Key business lines based on net written premium after reinsurance
(NWP) include motor hull, liability (including obligatory
third-party liability and crop insurance), and credit insurance,
which together accounted for more than 70% of NWP for 2021. S&P
said, "We also note a high contribution from financial risk
insurance and a growing international inward reinsurance business
line. Although we note the company's conscious approach in
risk-taking in underwriting these business lines, we acknowledge
that reinsurance business is untested yet and may result in
unforeseen losses. We understand that the company plans to focus on
property insurance and gradually diversify in reinsurance outside
Uzbekistan, while maintaining its market position in motor hull and
obligatory motor third-party liability insurance (OMTPL) in the
future. We forecast 15% growth in NWP in 2022-2023, supported by
overall market growth. We view the market as still nascent and
characterized by a challenging operating environment, which to some
extent restricts our assessment of the company's overall business
profile."

S&P said, "The company's capital adequacy was below our 'BBB'
benchmark in 2021. We expect that AI's prospective capital adequacy
will gradually improve the to 'BBB' level by 2023, benefiting among
others from one-off reclassification of a preventive-measure
reserve of about UZS3.9 billion in 2022. Following a change in
regulation, this is now considered a noninsurance reserve and we
expect that AI will release it and keep it as part of shareholders'
funds. The capital will be also supported by an expected divestment
from statutory funds of affiliated entities over 2022-2023 of
UZS8.9 billion and reallocation of the funds in bank deposits to
non-affiliated parties. Our capital projections include combined
(loss and expense) ratios of 99%, no fresh capital injections from
shareholders, and a dividend pay-out close to 40% in 2022-2023 and
no dividends for 2021.

"We note the company has a small capital base in absolute terms
(below $5 million), which makes it susceptible to single-event
losses, for example, a catastrophic earthquake in the Tashkent
region."

Apart from large investment in commercial real estate, which
represents about 40% of total invested assets, AI's investment
portfolio comprises cash and deposits in the local banking sector
with average credit quality in the 'B' rating category. S&P
consequently assesses the company's risk profile as high.

To acquire commercial real estate, AI raised debt from its related
bank in 2021. We believe that the company's financial leverage
(financial obligations to total reported equity plus financial
obligations) will not exceed 40% in 2022-2023, remaining neutral to
the rating.

S&P believeS that AI has a sufficient liquidity cushion in cash and
deposits to meet its obligations.

S&P SAID, "We understand that the company is controlled by two
shareholders, who own other sizable businesses in cotton
production, banking, leasing, tourism, and computer retail.
However, we do not view these persons individually or in
combination as a group parent.

"The positive outlook reflects our expectation of a possible
upgrade over the next 12 months.

"We could raise the ratings over the next 12 months if the
company's capital materially increases due to profitable operating
performance, retention of the majority of its profits, and the sale
of its stakes in affiliated companies, while AI's business risk
profile remains supported by sustainable and profitable growth.

"For a positive rating action, we would also expect no significant
deficiencies in management and governance, whether in financial
reporting standards or risk controls, including related-party
transactions."

s&p could revise the outlook to stable in the next 12 months if IT
seeS:

-- AI is underperforming compared with our base case or there are
risks to its market standing due to, for example, a spike in
competition.

-- Deterioration of the capital base, due to weaker-than-expected
operating performance and investment losses, or if the expected
divestment from affiliates falls through or if shareholders decide
to extract unplanned level of dividends or engaged AI to support
its other businesses.

-- Significant and sustained asset-quality deterioration.

-- Deficiencies in management and governance, including financial
reporting or risk controls, which we view as detrimental for AI's
credit profile.

ESG credit indicators: E-2, S-2, G-4

S&P said, "Governance factors are a negative consideration in our
credit rating analysis of AI and other rated insurers in
Uzbekistan. This is mainly driven by our assessment of Uzbekistan's
governance practices. In particular, the institutional framework is
evolving but lags some emerging and most developed markets, while
the quality and level of disclosures remain limited. In our view,
these risks reduce insurers' predictability of performance in
Uzbekistan."




===========
S E R B I A
===========

ROMULIJANA: Auction Fails to Attract Interested Buyers
------------------------------------------------------
Branislav Urosevic at SeeNews reports that Serbia failed for the
third time to sell assets of bankrupt hotel and spa services
company Romulijana, local media relayed.

According to SeeNews, the auction failed due to a lack of
interested buyers, local business portal eKapija quoted Serbia's
Deposit Insurance Agency as saying on May 19.

The assets were put up for sale on April 18 at a starting price of
RSD103.2 million (US$928,800/EUR878,400), SeeNews relates.

The main assets of the company offered for sale include 12 hotel
buildings with an aggregate area of 5,163.5 sq m, and its other
assets include 33 more buildings for various purposes, sports
fields, a healthcare center, a bakery, and 555 pieces of equipment,
SeeNews discloses.

Romulijana, founded in 1990, was declared bankrupt in 2016, SeeNews
recounts.




=============
U K R A I N E
=============

[*] UKRAINE: President Biden Inks US$40BB Aid Package Into Law
--------------------------------------------------------------
Morgan Chalfant at The Hill reports that President Biden has signed
into law a far-reaching aid package for Ukraine that will provide
US$40 billion in security, humanitarian and economic assistance for
the country as it battles the Russian war over the coming months.

The White House said in a release on May 21 that Biden signed the
measure while abroad in Asia, The Hill relates.  The Senate voted
overwhelmingly to pass it on May 19, The Hill notes.

The package brings the total U.S. assistance Congress has approved
for Ukraine this year to nearly US$54 billion to help the country
battle a Russian onslaught that began on Feb. 24, The Hill states.


According to The Hill, the legislation allows Biden to transfer
US$11 billion in weapons to Ukraine and provides US$9 billion to
replenish depleted U.S. weapons stockpiles.  It also provides
roughly US$8.8 billion to support operations of Ukraine's
government and combat human trafficking, US$5 billion in global
food assistance, US$4.35 billion in international disaster aid and
US$900 million to support refugees, The Hill discloses.   

Ukraine has been battling Russian forces for roughly three months
since Russian President Vladimir Putin ordered the large-scale
invasion, The Hill relays.




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

CASTLE UK: Fitch Rates GBP815MM Secured Bonds 'BB-'
---------------------------------------------------
Fitch Ratings has assigned Castle UK Finco plc (B+/Stable), which
trades as Miller Homes, a final senior secured rating of 'BB-'.
Fitch has also assigned a final instrument rating of 'BB-' with a
Recovery Rating of 'RR3' to Castle UK Finco plc's GBP815
million-equivalent senior secured bonds (EUR465 million of
floating-rate notes due 2028 and GBP425 million due 2029). The
issuance is guaranteed by various group entities.

The assignment of the bond's final rating follows the completion of
the bond issue and the receipt of the final documentation, which
conforms to previously received information.

In December 2021, Apollo Global Management acquired Miller Homes
group from Bridgepoint Group Plc. The recapitalisation to acquire
the company increased funds from operations (FFO) gross leverage to
around 4.9x, a level which is appropriate for the 'B' category.
Fitch expects the company to steadily deleverage with cash flow
generated from higher sale volumes.

KEY RATING DRIVERS

Acquisition Increases Leverage: The financing for Apollo's GBP1.4
billion acquisition of Miller Homes comprises GBP815 million of
debt and around GBP500 million of equity. The new capital structure
is forecast to increase FFO gross leverage to around 4.9x at
end-2022. Fitch expects the company to steadily reduce leverage
through higher FFO generation. Fitch understands from management
that the new owner does not plan to receive annual dividends.

Strong Sales Continue: Following a slowdown in 2020 owing to the
operational effects of the pandemic, business has recovered
strongly. By end-2021, Miller Homes' completions were 47% above
end-2020 levels and 10% above pre-pandemic end-2019 levels. The
total average selling price (ASP) in 2021 rose 5%, increasing the
gross margin to 24.5%. Sales in 2021 rose nearly 57% to GBP1.05
billion. Fitch expects robust sales to continue, owing to a strong
order book and an under-supplied UK housing market.

Ongoing Housing Supply/Demand Imbalance: The UK housing market is
underpinned by a persistent shortage of new homes. The UK
government has an annual target of 300,000 new homes being built in
the UK, but supply has averaged around 60,000 units below this for
several years and is expected to have fallen short by around 80,000
in 2021. This deficit, combined with supportive government
programmes and fairly low mortgage rates, ensures demand remains
strong. Fitch expects Miller Homes to continue to benefit from the
strong demand, especially given its regional focus in the UK where
the housing market tends to be less volatile than in London and the
southeast of the UK.

Expanding Regional Business Model: Miller Homes is a medium-sized
homebuilder catering primarily to families in or around regional
centres. The company focuses mainly on central Scotland, northern
England and the Midlands with a small exposure to southern England.
It opened in its 10th region, the south Midlands in 2021. Miller
Homes offers several highly standard, single-family homes, and now
includes certain options that enable buyers to customise their
homes, which increases buyers' commitments and generates additional
revenue. The ASP at end-2021 was GBP275,000 (December 2020:
GBP261,000), which is similar to the UK national average.

Low-Risk Approach: Discretionary, but careful land spending,
combined with the use of land options, which become committed at
the point of purchase, limits capital required to operate. In
addition, the company's presale strategy reduces the risk of
accumulating excess inventory and its outsourced sub-contractor
model keeps the fixed-cost base low, allowing development spend to
be adjusted to sales rates. More than 90% of the owned landbank
typically has detailed planning consent.

Ample Landbank: Miller Homes' GBP17 million acquisition of regional
land promoter Wallace Land and Investments Limited in May 2021
added 17,500 plots to Miller Homes' strategic landbank, which at
end-2021 totalled 39,222 plots. Combined with the consented
landbank (15,169 units - equivalent to four years of supply), this
represents more than 14 years of supply based on the last 12
months' completion volumes.

Strong Order Book: The value of Miller Homes' order book for the
next 12 months from the beginning of 2022 was GBP655 million,
comprising more than 2,500 units. This provides sales visibility,
equating to more than eight months of sales coverage based on the
end-2021 ASP. The private order book at end-2021 was sufficient to
cover more than 50% of anticipated private volumes in 2022.

Average Recovery Estimate: Fitch applies a one-notch uplift to the
senior secured notes compared with the IDR. Fitch's recovery
estimate is based on a liquidation approach, supported by the value
of inventory (mainly land), to which Fitch applied a 20% discount.
Fitch assumes Miller Homes' new GBP180 million super-senior
revolving credit facility (RCF) to be fully drawn. This results in
a senior secured rating of 'BB-' with 'RR3' (60%).

DERIVATION SUMMARY

Miller Homes mostly builds fairly low-cost, single-family homes
with a regional focus, mainly in Scotland, the north and the
Midlands of England. This differs from UK-home builder The Berkeley
Group Holdings plc (BBB-/Stable), which focuses on London and the
south east and mainly builds long-term redevelopment projects in
the wealthiest areas of the UK. Berkeley's residential units are
often part of large conurbations, which given the complexity of
planning, land purchase, infrastructure works and construction,
might take five to six years before the first round of practical
completions, whereas Miller Homes normally completes homes in under
a year.

Berkeley's ASP exceeds GBP770,000, which is nearly three times the
average house price in England. In their last respective fiscal
years, Miller Homes and Berkeley had similar volumes (Miller Homes:
2,620 units; Berkeley: 2,825), well below that of largest UK
housebuilders at more than 15,000 units a year.

The Spanish housebuilders AEDAS Homes, S.A., Neinor Homes S.A. and
Via Celere Desarrollos Inmobiliarios, S.A. (IDRs all at BB-/Stable)
focus on the most affluent areas within their domestic market and
the products offered (large condominiums) share similarities with
Berkeley's. Irrespective of the geographic focus and the product
range, Spanish and UK-based housebuilders' funding requirements are
comparable, with both relying only on a small purchaser deposit
(5%-10% for the UK and up to 20% for Spain) to fund land and
development costs in the period up to completion.

Following the acquisition by Apollo, Miller Homes' 4.9x FFO gross
leverage is weaker than that of AEDAS (3.2x), but similar to Via
Celere's 5.0x. Neinor's FFO gross leverage is around 6.0x, but this
includes debt attributed to the company's growing build-to-rent
(BTR) portfolio. If the attributable BTR debt is excluded, the
resultant figures are comparable with other rated build-to-sell
EMEA homebuilders'. All of these companies are expected to
deleverage in the current buoyant homebuilding markets, although
the pace could slow if interest rates increase or pandemic
restrictions return.

KEY ASSUMPTIONS

-- Revenue growth is mainly driven by volumes, with more than
    4,000 units sold annually at ASP averaging GBP273,000 over the

    next four years;

-- Net land and development spend included in working capital
    totals GBP400 million during 2021-2025;

-- Consideration for the acquisition of Miller Homes of GBP919
    million.

-- All debt incurred under previous ownership repaid in full,
    plus bond redemption premium and accrued and unpaid interest
    costs totaling GBP420 million, and sundry costs of around
    GBP55 million;

-- New secured bond of GBP815 million issued in 2022, GBP496
    million of new equity, and GBP32 million of management equity
    rolled over;

-- No dividends distribution in the next four years.

RATING SENSITIVITIES

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

-- FFO gross leverage below 3.5x on a sustained basis;

-- Maintaining order book/development work-in-progress (WIP)
    around or above 100% on a sustained basis.

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

-- FFO gross leverage above 4.5x on a sustained basis;

-- Order book/development WIP materially below 100% on a
    sustained basis, indicating speculative development;

-- Extraction of dividends that would lead to a material
    reduction in free cash flow generation and slow deleveraging.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Non-Financial Corporate
issuers have a best-case rating upgrade scenario (defined as the
99th percentile of rating transitions, measured in a positive
direction) of three notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of four notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAA' to 'D'. Best- and worst-case scenario credit ratings are
based on historical performance.

LIQUIDITY AND DEBT STRUCTURE

Healthy Liquidity: Under the new capital structure, Miller Homes
has more than GBP100 million of cash on its balance sheet and
access to a 5.5-year GBP180 million super-senior RCF (undrawn at
closing). The GBP815 million senior secured notes, which have
refinanced all outstanding debt, do not mature until 2028 and 2029.
No dividends are expected over the forecast period.

ISSUER PROFILE

Miller Homes is one of the largest privately-owned housebuilders in
the UK with a strong regional focus.

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.


GREENE KING: Fitch Alters Rating to BB+ on 1 Class Debts
--------------------------------------------------------
Fitch Ratings has revised the Outlooks on Greene King Finance Plc's
class A, class AB and class B notes to Stable from Negative and
affirmed them at 'BBB', 'BBB-' and 'BB+', respectively.

   DEBT                 RATING                PRIOR
   ----                 ------                -----
Greene King Finance Plc

Greene King Finance    LT BBB-    Affirmed    BBB-
Plc/Debt/2 LT

Greene King Finance    LT BBB     Affirmed    BBB
Plc/Debt/1 LT

Greene King Finance    LT BB+     Affirmed    BB+
Plc/Debt/3 LT

RATING RATIONALE

The revision of the Outlook indicates better-than-expected
performance of the pub sector in 2H21 and the reduced uncertainty
of further containment measures related to the Covid-19 pandemic.
The Stable Outlooks also reflect the headroom in the ratings,
despite mounting pressure on consumers' disposable income.

Fitch expects Greene King's credit profile and free cash flow (FCF)
debt service coverage ratios (DSCRs) to stabilise after a severe
demand shock related to the coronavirus pandemic and recover to
pre-pandemic levels by the end of 2023. The pub sector remains
under pressure, particularly from higher inflation impacting
consumer spending, as well as wage, utility and food and drinks
costs, which is reflected through the long-term contraction of
FCF.

Under Fitch's revised rating case, projected DSCRs remains above
the downgrade sensitivity levels, driven by the improving cash flow
generated since the reopening of pubs.

KEY RATING DRIVERS

Sector Recovery Continues - Industry Profile: Midrange

The Covid-19 pandemic and its related containment measures have had
a material impact on the UK's pub sector. Restrictions have
gradually been lifted and trade volumes are recovering, although
some uncertainties remain. The recovery started in 2021 and Fitch
expects the sector to be fully recovered by the end of 2023.

The pub sector in the UK has a long history and is deeply rooted in
the UK's culture. However, in recent years (pre-pandemic), pub
assets have shown significant weakness. The sector is highly
exposed to discretionary spending, strong competition (including
from the off-trade), and other macro factors such as a generally
inflationary environment impacting wages, utility costs and food
and drink costs. For bigger pub groups, Fitch considers price risk
limited but volume risk high.

In terms of barriers to entry, licensing laws and regulations are
moderately stringent, and managed pubs and tenanted pubs (i.e.
non-full repairing and insuring) are fairly capital-intensive.
However, switching costs are generally viewed as low, even though
there may be some positive brand and captive market effects. In
terms of sustainability, Fitch expects the strong pub culture in
the UK to persist, leading people back to pubs, despite the
potentially unfavourable economic situation caused by Brexit and
Covid-19.

Sub-KRDs - Operating Environment: Weaker, Barriers to Entry:
Midrange, Sustainability: Midrange

Majority of EBITDA From Managed Estate - Company Profile: Midrange

Financial Performance: Greene King has a long trading history, with
proven resilience through economic cycles. The securitised estates
have had sound performance, but in line with the wider pub sector
trend, performance had weakened in the last couple of years
(pre-pandemic) due to a difficult trading environment and rising
costs.

Company Operations: Greene King has a stable and experienced
management team, as well as a supportive and committed sponsor
since being acquired by a subsidiary of CK Asset Holdings in 2019.
The integration of Spirit Pub Company, which was acquired in June
2015, also provided Greene King with economies of scale. The
company has mitigated some of the negative impact of a rising cost
base. With the help of Greene King Group, the company has
demonstrated good ability to manage costs during the pandemic,
maintaining a healthy margin. High inflation is having an impact on
Greene King. However, Fitch expects it will be able to pass-through
some of the cost increase to customers and limit the impact on
margins.

Transparency: Fitch considers pub operations have low complexity.
Within the securitised group, the majority of the contributions are
derived from the self-operated business-managed pubs, with 71% of
total EBITDA in 2021. For tenanted pubs, management also has good
control over the operational strategy via relatively shorter
agreements compared with other Fitch-rated whole business
securitisation (WBS) pub transactions. Historically, management has
adapted to industry changes with branding and food-led offers and
improved the quality and sustainability of the tenanted model.
Fitch considers information provided by the company timely and
sufficient.

Dependence on Operator: Fitch believes a replacement of the
operator would not be straightforward but would be possible within
a reasonable time, supported by the large number of operators and
as demonstrated with previous transactions (e.g. Orchid pubs sold
to M&B). Fitch views operational commingling as high due to
centralised management of managed and tenanted estates (although at
different locations) and common supply contracts.

Asset Quality: Fitch considers Greene King's pubs to be well
maintained, with capital expenditure (including repairs and
maintenance taken to the profit and loss account) averaging around
10% of total sales for the securitisation over the last few years.
The majority of assets are freehold and remain well located, with a
large portion in London and the south-east. The estate contains
almost no short leaseholds, as defined in the transaction
documentation. Since joining CK Asset Holdings, Greene King has
switched its strategy to pub assets optimisation rather than an
intense disposal programme, which means it is continuously
monitoring and improving pub performance.

Sub-KRDs - Financial Performance: Stronger, Company Operations:
Midrange, Transparency: Midrange, Dependence on Operator: Midrange,
Asset Quality: Midrange

Standard WBS Structure; Junior Debt has Back-Ended Amortisation

Debt structure: Class A Stronger; Class AB and Class B Midrange

All debt is fully amortising on a fixed schedule, eliminating
refinancing risk. The gradually increasing annual debt service
until 2025 is a weakness, but the debt profile remains broadly even
thereafter with a marginal peak towards the end. The class A4 and
class A7 notes have interest-only periods but the class A notes
overall have no interest-only periods and benefit from deferability
of the junior class AB2 and B notes. There is concurrent
amortisation of the class A notes and the junior notes, although
this is not significant. Amortisation for the class AB and B notes
is back-ended and their interest-only periods are substantial,
until 2031 for the class B notes and 2033 for the class AB notes.
All classes of notes are fixed-rate or fully hedged.

The security package is strong, in Fitch's view, with comprehensive
first-ranking fixed and floating charges over the issuer's assets
and ultimately over all operating assets. The class AB2 and B notes
have equivalent security to the class A notes, but are junior
ranking, leading to the 'Midrange' attribute.

All standard WBS legal and structural features are present, and the
covenant package is comprehensive. The restricted payment condition
levels are standard, with 1.5x EBITDA DSCR and 1.3x FCF DSCR
including step-up amounts. The tranched liquidity facility is
covenanted at 18 months' peak debt service. All counterparties'
ratings are at or above the rating of the highest rated notes. The
issuer is an orphan bankruptcy-remote SPV.

Sub-KRDs - Debt Profile: Class A: Stronger, Class AB, B: Midrange,
Security Package: Class A: Stronger, Class AB, B: Midrange,
Structural Features: Class A: Stronger, Class AB, B: Stronger

Financial Profile

In 1Q21, pubs in the UK were closed, with a gradual reopening from
April 2021. Greene King's sales started to improve strongly over
the summer reaching or exceeding 2019 levels, which indicates that
Covid-19 is a temporary impairment of the credit profile. This
reflects Fitch's view that demand levels within the pub sector will
return to pre-pandemic levels by 2023.

Increasing inflation in 2021 and 2022 continues to put pressure on
consumers' net disposable incomes and could lead to less
consumption in pubs. Inflation also impact Greene King directly as
the company is exposed to increasing pressure on wages, utility
costs as well as food and drinks costs, despite some short-term
protections.

Under the Fitch Rating Case (FRC), Fitch assumes a recovery in
profitability to pre-pandemic level in 2023. For the longer term,
Fitch forecasts that FCF will contract by a CAGR of 1% between 2023
and 2035 reflecting the cost pressures as well as changing consumer
habits affecting the pubs industry. The UK's pub culture helps the
sector to withstand the challenges of consumers' reduced
discretionary spending, strong competition within the industry and
inflationary cost pressures.

Fitch will continue to monitor the developments in the sector, and
will revise the FRC if Greene King's operating environment
substantially changes.

The FCF DSCRs under Fitch's current FRC for class A and class AB
remain at 1.6x and class B at 1.4x. These metrics are above Fitch's
downgrade triggers.

PEER GROUP

Greene King's closest peers are hybrid or managed pubco
securitisations of Marston's, Spirit and M&B. The transaction's
EBITDA generated by managed pubs is around 71%, which is close to
Spirit, higher than Marston's but below M&B, as it is 100% managed
pubs. In terms of the quality of the managed estate, the
contribution per managed pub of Greene King is above Spirit
debenture's managed estate and Marston's securitisation.

The respective rating metrics remain in line with closest peers and
Fitch's UK WBS criteria. Fitch said, "We note that there is only a
marginal difference in terms of coverage metrics between the class
A and AB notes. However, we maintain a one-notch difference between
them due to the stronger debt structure and significantly shorter
weighted average life of the class A notes."

RATING SENSITIVITIES

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

-- Projected FCF DSCRs below 1.5x, 1.5x and 1.2x for the class A,

    AB and B notes, respectively, could lead to a downgrade .

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

-- Projected FCF DSCRs above 1.7x, 1.7x and 1.5x for the class A,

    AB and B notes, respectively, could lead to an upgrade.

TRANSACTION SUMMARY

The transaction is a securitisation of managed and tenanted pubs
operated by Greene King Group, comprising 834 managed pubs and 647
tenanted pubs as of January 2022.

CREDIT UPDATE

Restrictions on gatherings and trading have now been fully lifted.
However, 2021 revenues suffered from the restrictions imposed on
pubs for several months as a response to the increasing Covid-19
infection rate. In 1Q21, trading was fully suspended, with a
gradual reopening from April 2021. The summer trading season was
strong, with pent-up demand driving turnover. The emergence of the
Omicron variant in late autumn/winter affected Christmas trade and
Greene King finished 2H21 with turnover slightly below 2019
levels.

Trade volumes in early 2022 have been below 2019 pre-pandemic
levels. However, sales are at similar levels due to a shift to
higher-margin products.

Greene King is exposed to inflation on energy, food and drinks
costs as well as wages. It expects to be able to pass-through some
of these costs to the customers.

In 2021, Greene King spent lower than the required amount of
maintenance expenditure due to closures imposed on the pub sector
in response to increasing Covid-19 infections in late
2020/early2021 and trading restrictions until July 2021. The
shortfall has been deposited in the capex reserve account. Greene
King expects maintenance expenditure to exceed the minimum required
amount in 2022.

The 2Q FCF DSCR as of January 2022 was 1.3x and the 4Q FCF DSCR was
0.7x.

Greene King obtained two bondholder waivers in July 2020 and May
2021 due to the impact of Covid-19, as FCF DSCRs went below the
covenanted level of 1.1x. Greene King does not expect to request
additional waivers.

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.

HARVEST CLO XXIII: Fitch Hikes Class F Notes Rating to 'Bsf'
------------------------------------------------------------
Fitch Ratings has upgraded Harvest CLO XXIII DAC's class D, E, and
F notes, affirmed the class A to C notes and removed the class B-1
to F notes from Rating Watch Positive (RWP). The Outlooks are
Stable.

   DEBT               RATING               PRIOR
   ----               ------               -----
Harvest CLO XXIII DAC

A XS2112469791      LT AAAsf   Affirmed    AAAsf
B-1 XS2112470021    LT AAsf    Affirmed    AAsf
B-2 XS2112470450    LT AAsf    Affirmed    AAsf
C XS2112470708      LT Asf     Affirmed    Asf
D XS2112471185      LT BBBsf    Upgrade    BBB-sf
E XS2112471425      LT BBsf     Upgrade    BB-sf
F XS2112471854      LT Bsf      Upgrade    B-sf

TRANSACTION SUMMARY

Harvest CLO XXIII DAC is a cash flow collateralised loan obligation
(CLO) mostly comprising senior secured obligations. The transaction
is actively managed by Investcorp Credit Management EU Limited and
will exit its reinvestment period in October 2024.

KEY RATING DRIVERS

CLO Criteria Update: The rating actions mainly reflect the impact
of Fitch's recently updated CLOs and Corporate CDOs Rating Criteria
and the shorter risk horizon incorporated in Fitch's stressed
portfolio analysis. The analysis considered modelling results for
the current and stressed portfolios based on the 6 April 2022
trustee report. The stressed portfolio analysis is based on Fitch's
collateral quality matrix specified in the transaction
documentation and underpins the model-implied ratings (MIRs) in
this review.

The transaction has four matrices, based on 10% and 0% fixed-rate
obligation limits and top 10 obligor concentration limits of 15%
and 23%. Fitch analysed the matrix specifying the 15% top 10
obligor concentration limit, as the transaction currently has a
14.06% concentration. When analysing the matrix, Fitch applied a
haircut of 1.5% to the weighted average recovery rate as the
calculation in the transaction documentation is not in line with
the latest CLO criteria.

The weighted average life (WAL) used for the transaction's stressed
portfolio and matrices analysis is reduced to six years after a
half-year reduction from the WAL covenant. This is to account for
structural and reinvestment conditions after the reinvestment
period, including the satisfaction of the coverage tests and
Fitch's 'CCC' limit tests, together with a progressively decreasing
WAL covenant. In the agency's opinion, these conditions reduce the
effective risk horizon of the portfolio during stress periods.

Fitch has been informed by the manager that owing to market
conditions there is no longer any plan to reset or refinance the
transaction in the near term. Therefore, Fitch has removed the
class B-1 to F notes from RWP. The Stable Outlooks on all notes
reflect Fitch's expectation of sufficient credit protection to
withstand potential deterioration in the credit quality of the
portfolio in stress scenarios that are commensurate with the
ratings. The transaction is still in its reinvestment period, so no
deleveraging is expected.

MIR Deviation: The class B-1 to F notes' ratings are one notch
below the MIR. The deviation reflects the remaining reinvestment
period until October 2024, during which the portfolio could change
significantly, due to reinvestment or negative portfolio
migration.

Stable Asset Performance: The transaction metrics indicate a stable
asset performance. The transaction is currently 0.20% above par. It
is passing all collateral quality tests, all portfolio profile
tests and all coverage tests. Exposure to assets with a
Fitch-derived rating of 'CCC+' and below is 1.11% according to the
latest trustee report versus a limit of 7.50%.

'B/B-' Portfolio: Fitch assesses the average credit quality of the
transaction's underlying obligors in the 'B'/'B-' category. The
WARF, as calculated by Fitch under the updated criteria, was
25.69.

High Recovery Expectations: Senior secured obligations comprise
96.91% of the portfolio. Fitch views the recovery prospects for
these assets as more favourable than for second-lien, unsecured and
mezzanine assets. The WARR, as calculated by Fitch, was 61.65%.

Diversified Portfolio: The portfolio is well-diversified across
obligors, countries and industries. The top 10 obligor
concentration is 14.06%, and no obligor represents more than 1.75%
of the portfolio balance.

RATING SENSITIVITIES

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

Downgrades may occur if the loss expectation is larger than
initially assumed, due to unexpectedly high levels of defaults and
portfolio deterioration.

A 25% increase of the mean default rate (RDR) across all ratings
and a 25% decrease of the recovery rate (RRR) across all ratings
would result in downgrades of up to two notches across the
structure.

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

Upgrades may occur on better-than-expected portfolio credit quality
and deal performance, leading to higher credit enhancement and
excess spread available to cover for losses in the remaining
portfolio.

A 25% reduction of the mean RDR across all ratings and a 25%
increase in the RRR across all ratings would result in an upgrade
of no more than four notches across the structure, apart from the
class A notes, which are already at the highest rating on Fitch's
scale and cannot be upgraded.

BEST/WORST CASE RATING SCENARIO

International scale credit ratings of Structured Finance
transactions have a best-case rating upgrade scenario (defined as
the 99th percentile of rating transitions, measured in a positive
direction) of seven notches over a three-year rating horizon; and a
worst-case rating downgrade scenario (defined as the 99th
percentile of rating transitions, measured in a negative direction)
of seven notches over three years. The complete span of best- and
worst-case scenario credit ratings for all rating categories ranges
from 'AAAsf' to 'Dsf'. Best- and worst-case scenario credit ratings
are based on historical performance.

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

Harvest CLO XXIII DAC

Fitch has checked the consistency and plausibility of the
information it has received about the performance of the asset pool
and the transaction. 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.

The majority of the underlying assets or risk presenting entities
have ratings or credit opinions from Fitch and/or other Nationally
Recognized Statistical Rating Organizations and/or European
Securities and Markets Authority registered rating agencies. Fitch
has relied on the practices of the relevant groups within Fitch
and/or other rating agencies to assess the asset portfolio
information or information on the risk presenting entities.

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

Overall, and together with any assumptions referred to above,
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.

MR LEE'S PURE FOOD: Enters Administration, Halts Trading
--------------------------------------------------------
Business Sale reports that Bournemouth-based instant foods brand Mr
Lee's Pure Food has been placed into administration and ceased
trading following the death of its founder last year.

According to Business Sale, administrators from Kroll are now
seeking a buyer for the company and its assets.

Mr Lee's Pure Foods was launched by Damien Lee in 2016 as a
healthy, gourmet offering within the GBP100 billion-per-year
instant meals market.  As well as the Mr Lee's Noodles brand, which
includes both rice noodle and ramen dishes, the company also has
lines of instant porridge and congee.

In its accounts for the year ending December 31 2021, the company
had GBP273,423 in fixed assets and GBP1.52 million in current
assets, Business Sale discloses.  At the time of filing, the
company owed creditors GBP2.47 million, outstripping its assets by
GBP679,348, Business Sale states.  Mr Lee's Pure Foods' total net
book value at the end of 2021 was GBP250,669, compared to
GBP710,959 a year earlier, Business Sale notes.

The company has proven to be something of an innovator within the
instant foods market, aiming to offer healthy alternatives within a
sector widely viewed as unhealthy.  It was the first company in the
UK to offer instant congee and also expanded into foodtech with a
pilot launch of touch-screen noodle kiosks. In 2020, the business
raised more than GBP1.6 million through crowdfunding to finance a
launch in the US.

However, following the death of Damien Lee last year following
several bouts of cancer, the company has now moved to appoint Rob
Armstrong and Jimmy Saunders of Kroll as joint administrators,
Business Sale discloses.

"At this stage the company has ceased trading and is under the
control of the joint administrators whilst the financial position
and prospects are examined, and we continue to look for a buyer of
the business and assets.  All creditors will be notified of the
appointment in the coming days," Business Sale quotes Mr. Saunders
as saying.


SAFE HANDS: Customers Expected to Get Only a Fifth of Money Back
----------------------------------------------------------------
Jeff Prestridge at Financial Mail On Sunday reports that
administrators appointed to investigate the demise of funeral plan
provider Safe Hands Plans have told customers to expect no more
than a fifth of their money back.

This is despite the fact their money was meant to be safeguarded in
a trust overseen by independent trustees, The Mail on Sunday notes.


This news is contained in a document made available in the past
couple of days to 47,000 customers of Safe Hands by FRP -- and seen
by The Mail on Sunday.

FRP was appointed as administrator to the business in late March,
The Mail on Sunday recounts.  Its financial work so far confirms
the conclusions of the detailed investigation that The Mail on
Sunday has conducted into Safe Hands over the past two months.
Namely, that trust assets have been mismanaged, misused and
misappropriated.

Safe Hands was bought by Richard Philip Wells in February 2020
through private equity firm SHP Capital Holdings for GBP9 million,
The Mail on Sunday recounts.

He immediately replaced the independent trustees of the trust fund
with an outside firm (Sterling Trust Corporation) whose chief
executive was a former business partner, according to The Mail on
Sunday.

Safe Hands' customers, whose average age is 70, typically paid
GBP3,000 for a funeral plan of their choosing.

Such plans are meant to offer peace of mind, ensuring all funeral
arrangements are paid for and agreed in advance.

However, if FRP's sums prove to be right, customers will get back
no more than GBP600, probably less, The Mail on Sunday discloses.

The collapse of Safe Hands, based in Wakefield, West Yorkshire,
followed the withdrawal of its application to become a regulated
provider of funeral plans when the Financial Conduct Authority
starts overseeing the industry at the end of July, The Mail on
Sunday relates.

Late last month, FRP raised concerns over some GBP60million of Safe
Hands' trust assets that were held in "illiquid, high-risk
investments", many based in offshore jurisdictions, The Mail on
Sunday recounts.

According to The Mail on Sunday, it said their value would be
"materially lower".  It also questioned whether some of the assets
were actually owned by the trust.  However, now it has quantified
what it means by "materially lower", The Mail on Sunday notes.

In its latest report, it says the realisable value of these assets
"will be between GBP10.6 million and GBP16.1 million", The Mail on
Sunday discloses.

These figures compare to "claims against the trust" (the cost of
funerals promised) of GBP71.13 million, The Mail on Sunday notes.

"This equates to a return [for planholders] of between 10 pence and
20 pence in the pound," it says.

FRP says it is working with law firm Pinsent Masons to "identify
and pursue" trust assets, The Mail on Sunday relates.


TOGETHER ASSET 2022-2ND1: S&P Assigns B-(sf) Rating on Cl. F Certs
------------------------------------------------------------------
S&P Global Ratings assigned preliminary credit ratings to Together
Asset Backed Securitisation 2022-2ND1 PLC's class A notes and to
the interest deferrable class B-Dfrd to F-Dfrd notes. At closing,
the issuer will issue unrated class X-Dfrd and Z notes, and
residual certificates.

The transaction is a static RMBS transaction, which securitizes a
provisional portfolio of up to £349.8 million second-lien mortgage
loans, both owner-occupied and buy-to-let (BTL), secured on
properties in the U.K. Product switches and loan substitution are
permitted under the transaction documents.

Together Personal Finance Ltd., Together Commercial Finance Ltd.
(collectively, Together), and Blemain Finance Ltd. originated the
loans in the pool between 2014 and 2022.

S&P considers the collateral to be nonconforming based on the
prevalence of loans to borrowers with adverse credit history, such
as prior county court judgments (CCJs) and previous mortgage
arrears.

Credit enhancement for the rated notes consists of subordination
and overcollateralization from the liquidity reserve, which will
amortize in line with the class A notes' outstanding balance.

Liquidity support for the class A notes is in the form of an
amortizing liquidity reserve fund. Principal can also be used to
pay interest on the most-senior class outstanding for the class A
to F-Dfrd notes.

There are no rating constraints in the transaction under our
counterparty, operational risk, or structured finance sovereign
risk criteria. The ratings are contingent on our review of the
legal documents.

  Preliminary Ratings

  CLASS     PRELIM. RATING*    CLASS SIZE (%)

  A         AAA (sf)            73.50

  B-Dfrd    AA+ (sf)             4.00

  C-Dfrd    AA (sf)              6.25

  D-Dfrd    A (sf)               6.00

  E-Dfrd    BBB- (sf)            5.25

  F-Dfrd    B- (sf)              1.50

  X-Dfrd    NR                   1.50

  Z         NR                   3.50

  Residual certs  NR              N/A

*S&P's preliminary ratings address timely receipt of interest and
ultimate repayment of principal on the class A notes, and the
ultimate payment of interest and principal on the other rated notes
except when they become the most senior.

NR--Not rated.
N/A--Not applicable.


TURBO FINANCE 9: Moody's Affirms Ba2 Rating on GBP14.594MM E Notes
------------------------------------------------------------------
Moody's Investors Service has upgraded the ratings of three notes
issued by Turbo Finance 9 plc. The rating action reflects better
than expected collateral performance and the increased levels of
credit enhancement for the affected notes.

Moody's affirmed the ratings of the notes that had sufficient
credit enhancement to maintain their current ratings.

GBP493.272M Class A Notes, Affirmed Aaa (sf); previously on Oct 8,
2020 Definitive Rating Assigned Aaa (sf)

GBP26.269M Class B Notes, Upgraded to Aa1 (sf); previously on Oct
8, 2020 Definitive Rating Assigned Aa2 (sf)

GBP29.188M Class C Notes, Upgraded to A1 (sf); previously on Oct
8, 2020 Definitive Rating Assigned A3 (sf)

GBP11.675M Class D Notes, Upgraded to Baa2 (sf); previously on Oct
8, 2020 Definitive Rating Assigned Baa3 (sf)

GBP14.594M Class E Notes, Affirmed Ba2 (sf); previously on Oct 8,
2020 Definitive Rating Assigned Ba2 (sf)

RATINGS RATIONALE

The rating action is prompted by decreased key collateral
assumptions, namely the portfolio default probability assumption,
due to better than expected collateral performance and an increase
in credit enhancement for the affected tranches.

Revision of Key Collateral Assumptions

As part of the rating action, Moody's reassessed its default
probability and recovery rate assumptions for the portfolio
reflecting the collateral performance to date.

The performance of the transaction has been better than expected
since the closing date and after the end of the revolving period.
Total delinquencies have slightly increased in the past year, with
no 90 days plus arrears and 60 days plus arrears currently standing
at 0.27% of current pool balance. Cumulative losses currently stand
at 0.11% of original pool balance up from 0% a year earlier.

The current default probability assumption is 5% of the current
portfolio balance and the assumption for the fixed recovery rate is
40%. The portfolio credit enhancement is maintained at 16%.

Increase in Available Credit Enhancement

Sequential amortization led to the increase in the credit
enhancement available in this transaction.

For instance, the credit enhancement for the A note, the B note,
the C note, the D note, the E note increased to 24.6%, 17.7%,
10.1%, 7.0% and 3.2% from 16.4%, 11.9%, 6.9%, 4.9% and 2.4% since
closing. The credit enhancement of the F note has not changed from
0.9% at closing.

The principal methodology used in these ratings was "Moody's Global
Approach to Rating Auto Loan- and Lease-Backed ABS" published in
September 2021.

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

Factors or circumstances that could lead to an upgrade of the
ratings include (1) performance of the underlying collateral that
is better than Moody's expected, (2) an increase in available
credit enhancement, and (3) improvements in the credit quality of
the transaction counterparties.

Factors or circumstances that could lead to a downgrade of the
ratings include (1) an increase in sovereign risk, (2) performance
of the underlying collateral that is worse than Moody's expected,
(3) deterioration in the notes' available credit enhancement, and
(4) deterioration in the credit quality of the transaction
counterparties.


VIDAL SASSOON: Closes Glasgow Salon Following Administration
------------------------------------------------------------
Caroline Wilson at The Herald reports that Vidal Sassoon was set to
close its Princes Square salon on May 21 after the business went
into administration, ending a thirty-year association with the city
centre shopping centre.

According to The Herald, in a message to customers, the brand, said
it was "with regret" that the business was closing permanently,
adding: "We are honoured to be part of Glasgow business community
for 34 years."

It was Vidal Sassoon's only Scottish salon, The Herald notes.

Last month, celebrity hairstylist Nicky Clarke announced the
immediate closure of his Mayfair London salon, saying the combined
effects of the pandemic, declining passing trade and rising rates
had meant the salon was no longer economically sustainable, The
Herald relates.




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

[*] BOND PRICING: For the Week May 16 to May 20, 2022
-----------------------------------------------------
Issuer               Coupon    Maturity Currency Price
------               ------    -------- -------- -----
Gazprom PJSC Via Gaz   2.250   7/19/2022  CHF    51.760
Russian Railways Via   5.700   04/05/2022 USD     9.000
Gazprom PJSC Via Gaz   1.450   03/06/2023 CHF    25.694
Corestate Capital Ho   3.500   4/15/2023  EUR    63.875
Russian Railways Via   0.840   03/12/2026 CHF     7.445
Gazprom PJSC Via Gaz   8.625   4/28/2034  USD    29.750
Ukraine Government I   7.750   09/01/2022 USD    56.750
Gazprom PJSC Via Gaz   3.125  11/17/2023  EUR    26.939
Gazprom PJSC Via Gaz   4.950   7/19/2022  USD    58.000
Russian Railways Via   2.100   10/02/2023 CHF     5.255
Severstal OAO Via St   3.150   9/16/2024  USD    19.500
Kernel Holding SA      6.500  10/17/2024  USD    53.201
Lukoil International   4.563   4/24/2023  USD    47.000
Gunvor Group Ltd       6.250   9/30/2026  USD    86.644
Gazprom PJSC via Gaz   3.897              EUR    18.809
Gazprom PJSC Via Gaz   5.150   02/11/2026 USD    37.500
MHP Lux SA             6.950   04/03/2026 USD    51.684
MHP SE                 7.750   05/10/2024 USD    50.983
Eustream AS            1.625   6/25/2027  EUR    74.228
Lukoil Securities BV   3.875   05/06/2030 USD    36.250
Gazprom PJSC via Gaz   1.540   6/30/2027  CHF    25.997
Russian Railways Via   2.200   5/23/2027  EUR    10.000
Yandex NV              0.750   03/03/2025 USD    46.500
Lukoil International   4.750   11/02/2026 USD    42.000
Russian Railways Via   7.487   3/25/2031  GBP    15.413
ADLER Group SA         2.250   1/14/2029  EUR    75.204
Gazprom PJSC Via Gaz   4.250   04/06/2024 GBP    25.311
Gazprom PJSC via Gaz   1.500   2/17/2027  EUR    27.024
Corestate Capital Ho   1.375  11/28/2022  EUR    59.301
Gazprom PJSC Via Gaz   2.949   1/24/2024  EUR    25.000
Kernel Holding SA      6.750  10/27/2027  USD    52.843
Gazprom PJSC Via Gaz   2.500   3/21/2026  EUR    24.986
Russian Railways Via   3.125              CHF     9.251
VEON Holdings BV       3.375  11/25/2027  USD    57.149
Russian Railways Via   0.898   10/03/2025 CHF     6.090
Republic of Belarus    6.875   2/28/2023  USD    14.200
Russian Railways Via   4.600   03/06/2023 EUR    10.053
Gazprom PJSC Via Gaz   2.250  11/22/2024  EUR    32.153
Russian Foreign Bond   2.875   12/04/2025 EUR    15.242
Sberbank of Russia V   5.125  10/29/2022  USD    10.350
Gazprom PJSC via Gaz   2.950   1/27/2029  USD    27.850
Banca Monte dei Pasc   5.375   1/18/2028  EUR    63.202
Metinvest BV           8.500   4/23/2026  USD    54.250
Lukoil International   6.656   06/07/2022 USD    69.050
Gazprom Neft OAO Via   4.375   9/19/2022  USD    21.000
Gazprom PJSC via Gaz   4.599              USD    23.000
Credit Bank of Mosco   3.100   1/21/2026  EUR    10.000
Novolipetsk Steel Vi   1.450   06/02/2026 EUR    24.993
Lukoil Capital DAC     3.600  10/26/2031  USD    36.000
Gazprom PJSC Via Gaz   7.288   8/16/2037  USD    28.500
Ukraine Government I   6.750   6/20/2026  EUR    32.748
Gazprom PJSC via Gaz   3.250   2/25/2030  USD    24.000
Mitsubishi UFJ Inves   3.971  12/15/2050  EUR    36.687
Credit Bank of Mosco   3.875   9/21/2026  USD    14.563
Lukoil Capital DAC     2.800   4/26/2027  USD    37.500
Gazprom PJSC via Gaz   3.000   6/29/2027  USD    25.500
MHP Lux SA             6.250   9/19/2029  USD    51.184
Ukraine Government I   7.750   09/01/2025 USD    34.265
Gazprom PJSC via Gaz   2.950   4/15/2025  EUR    24.998
Borets Finance DAC     6.000   9/17/2026  USD    29.968
NAK Naftogaz Ukraine   7.625   11/08/2026 USD    32.042
NAK Naftogaz Ukraine   7.125   7/19/2024  EUR    31.547
Credit Bank of Mosco   7.500   10/05/2027 USD    23.000
NPC Ukrenergo          6.875   11/09/2026 USD    33.395
ALROSA Finance SA      3.100   6/25/2027  USD    11.000
Gazprom PJSC Via Gaz   4.364   3/21/2025  EUR    25.000
Ukraine Government I   6.876   5/21/2029  USD    32.000
Novolipetsk Steel Vi   4.700   5/30/2026  USD    30.000
Gazprom PJSC via Gaz   3.500   7/14/2031  USD    30.500
Metinvest BV           7.750  10/17/2029  USD    53.500
Frigoglass Finance B   6.875   02/12/2025 EUR    70.120
Moby SpA               7.750   2/15/2023  EUR    73.501
Credit Bank of Mosco   7.625              USD     6.750
ALROSA Finance SA      4.650   04/09/2024 USD    24.000
Tinkoff Bank JSC Via   6.000              USD    20.000
Phosagro OAO Via Pho   3.949   4/24/2023  USD    29.000
VTB Bank OJSC Via VT   6.950  10/17/2022  USD    89.900
Gazprom PJSC via Gaz   1.850  11/17/2028  EUR    25.000
Casino Guichard Perr   2.511              EUR    25.861
MMC Norilsk Nickel O   4.100   04/11/2023 USD    53.000
Aggregate Holdings S   6.875   11/09/2025 EUR    45.072
Polyus Finance PLC     3.250  10/14/2028  USD    28.000
VTB Bank PJSC Via VT   9.500              USD    36.561
Gazprom PJSC Via Gaz   4.950   02/06/2028 USD    26.000
MMC Norilsk Nickel O   2.550   09/11/2025 USD    46.000
Eurochem Finance DAC   5.500   3/13/2024  USD    41.500
Gazprom Neft OAO Via   6.000  11/27/2023  USD    32.809
Vnesheconombank Via    6.800  11/22/2025  USD    33.500
Credit Bank of Mosco   4.700   1/29/2025  USD    15.025
MMC Norilsk Nickel O   6.625  10/14/2022  USD    65.375
Credit Bank of Mosco   5.150   2/20/2024  EUR    14.965
VEON Holdings BV       7.250   4/26/2023  USD    70.282
MMK International Ca   4.375   6/13/2024  USD    31.000
Hellenic Republic Go   1.875   1/24/2052  EUR    70.246
State of North Rhine   1.450   1/19/2122  EUR    71.346
NGD Holdings BV        6.750  12/31/2026  USD    39.837
Banca Monte dei Pasc  10.500   7/23/2029  EUR    71.774
Gazprom PJSC Via Gaz   4.950   3/23/2027  USD    42.250
MMC Norilsk Nickel O   2.800  10/27/2026  USD    47.500
Dtek Renewables Fina   8.500   11/12/2024 EUR    36.881
Evraz PLC              5.375   3/20/2023  USD    35.234
Alfa Bank AO Via Alf   5.950   4/15/2030  USD    10.000
Russian Foreign Bond   2.650   5/27/2036  EUR    14.377
Metinvest BV           7.750   4/23/2023  USD    43.000
Metalloinvest Financ   3.375  10/22/2028  USD    91.470
Casino Guichard Perr   3.992              EUR    43.815
VF Ukraine PAT via V   6.200   02/11/2025 USD    53.046
Ukraine Government I   8.994   02/01/2024 USD    36.815
State Agency of Road   6.250   6/24/2028  USD    32.333
Standard Profil Auto   6.250   4/30/2026  EUR    71.571
Novatek OAO Via Nova   4.422  12/13/2022  USD    40.000
Sberbank of Russia V   5.250   5/23/2023  USD   100.475
Rallye SA              4.000   2/28/2032  EUR    14.870
Delivery Hero SE       2.125   03/10/2029 EUR    66.303
Fuerstenberg Capital   5.625              EUR    65.602
Mobile Telesystems O   5.000   5/30/2023  USD    27.000
Ozon Holdings PLC      1.875   2/24/2026  USD    26.000
Ukreximbank Via Biz    9.750   1/22/2025  USD    94.400
Phosagro OAO Via Pho   3.050   1/23/2025  USD    25.000
State of North Rhine   0.950   01/10/2121 EUR    54.274
Gtlk Europe Capital    4.650   03/10/2027 USD    22.130
Metinvest BV           7.650   10/01/2027 USD    52.346
VEON Holdings BV       4.000   04/09/2025 USD    62.535
Russian Railways Via   1.195   04/03/2028 CHF     5.819
Hungary Government B   2.250   4/20/2033  HUF    65.954
Russian Foreign Bond   1.125  11/20/2027  EUR    15.141
Romanian Government    2.875   4/13/2042  EUR    70.210
Severstal OAO Via St   5.900  10/17/2022  USD    13.000
Russian Railways Via   4.375   03/01/2024 USD    20.930
Korian SA              0.875   03/06/2027 EUR    51.024
Evraz PLC              5.250   04/02/2024 USD    51.000
Metinvest BV           5.625   6/17/2025  EUR    52.463
Tinkoff Bank JSC Via   9.250              USD   100.550
Eurotorg LLC Via Bon   9.000  10/22/2025  USD    29.749
Ukraine Railways Via   8.250   07/09/2024 USD    29.250
MMC Norilsk Nickel O   3.375  10/28/2024  USD    58.750
Credit Bank of Mosco   5.550   2/14/2023  USD    99.000
Phosagro OAO Via Pho   2.600   9/16/2028  USD    24.250
Vnesheconombank Via    5.942  11/21/2023  USD     5.000
United Kingdom Gilt    0.500  10/22/2061  GBP    62.090
Slovakia Government    1.000  10/13/2051  EUR    71.239
Ekosem-Agrar AG        8.500   12/07/2022 EUR     6.539
Bank Gospodarstwa Kr   2.250   7/21/2033  PLN    63.773
Delivery Hero SE       1.000   4/30/2026  EUR    73.487
VEON Holdings BV       5.950   2/13/2023  USD    72.500
Accor SA               0.700   12/07/2027 EUR    49.473
Polyus Finance PLC     5.250   02/07/2023 USD    99.990
Borets Finance DAC     6.500   04/07/2022 USD    36.739
GTLK Europe DAC        5.125   5/31/2024  USD    22.250
Russian Agricultural   8.500  10/16/2023  USD     7.250
Russian Foreign Bond   4.500   04/04/2022 USD    23.326
Rallye SA              4.371   2/28/2032  EUR    15.015
Gtlk Europe Capital    4.349   2/27/2029  USD    16.593
Suek Securities DAC    3.375   9/15/2026  USD    15.000
Delivery Hero SE       1.500   1/15/2028  EUR    67.663
Turkiye Is Bankasi A   6.125   4/25/2024  USD    98.910
Ekosem-Agrar AG        7.500   08/01/2024 EUR    10.356
Vnesheconombank Via    6.025   07/05/2022 USD     5.000
Hacienda Investments   5.350   02/08/2028 USD    91.500
PIK Securities DAC     5.625  11/19/2026  USD     6.350
Carnival PLC           1.000  10/28/2029  EUR    70.840
NAK Naftogaz Ukraine   7.375   7/19/2022  USD    68.500
Banca Monte dei Pasc   8.000   1/22/2030  EUR    66.250
Uralkali OJSC Via Ur   4.000  10/22/2024  USD    37.000
Global Fashion Group   1.250   3/15/2028  EUR    71.878
Polyus Finance PLC     4.700   1/29/2024  USD    99.305
Gtlk Europe Capital    5.950   4/17/2025  USD    13.000
Interpipe Holdings P   8.375   5/13/2026  USD    38.109
Korian SA              1.875              EUR    38.570
Ukraine Government B  15.840   2/26/2025  UAH    55.455
ABH Financial Ltd Vi   2.700   06/11/2023 EUR     5.000
Novolipetsk Steel Vi   4.500   6/15/2023  USD    47.000
Vonovia SE             1.625   09/01/2051 EUR    68.469
Chelyabinsk Pipe Pla   4.500   9/19/2024  USD    10.000
Ukreximbank Via Biz    9.625   4/27/2022  USD    26.283
Voltalia SA            1.000   1/13/2025  EUR    29.916
Sweden Government Bo   1.375   6/23/2071  SEK    65.261
VEON Holdings BV       4.950   6/16/2024  USD    61.350
Gtlk Europe Capital    4.800   2/26/2028  USD    20.250
Credit Bank of Mosco   8.875              USD     8.750
Andrade Gutierrez In   9.500  12/30/2024  USD    61.625
Serbia International   2.050   9/23/2036  EUR    69.168
Sovcombank Via SovCo   8.000   04/07/2030 USD   100.000
Gtlk Europe Capital    4.949   2/18/2026  USD    13.000
Novolipetsk Steel Vi   4.000   9/21/2024  USD    38.000
VEON Holdings BV       3.375  11/25/2027  USD    57.185
Metro Bank PLC         5.500   6/26/2028  GBP    64.700
Rusal Capital DAC      4.850   02/01/2023 USD    30.653
Quadient SA            3.375              EUR    58.321
Rusal Capital DAC      5.300   05/03/2023 USD    40.000
VTB Bank OJSC Via VT   4.073  10/24/2024  CHF     5.000
Banca Monte dei Pasc   8.500   09/10/2030 EUR    67.884
SCF Capital Designat   3.850   4/26/2028  USD    92.779
Serbia International   1.650   03/03/2033 EUR    72.356
FIGEAC-AERO            1.125  10/18/2022  EUR    22.347
Nostrum Oil & Gas Fi   8.000   7/25/2022  USD    21.500
Nexity SA              0.250   03/02/2025 EUR    61.829
TMK OAO Via TMK Capi   4.300   02/12/2027 USD    21.110
Home Credit & Financ   8.800              USD     5.000
Bank Gospodarstwa Kr   2.125   06/05/2030 PLN    71.288
Ukraine Railways Via   7.875   7/15/2026  USD    27.450
Royalty Pharma PLC     3.350   09/02/2051 USD    71.493
Prosus NV              3.832   02/08/2051 USD    67.968
Alfa Bank AO Via Alf   6.950              USD    11.533
Idavang A/S            7.250   11/11/2025 EUR    65.002
Sovcombank Via SovCo   3.400   1/26/2025  USD     5.197
Global Ports Finance   6.500   9/22/2023  USD     8.625
Alfa Bank AO Via Alf   5.900              USD     9.223
ABH Financial Ltd Vi   2.875   11/09/2022 CHF     4.000
Lithuania Government   0.500   7/28/2050  EUR    65.249
Air France-KLM         0.125   3/25/2026  EUR    16.098
Czech Republic Gover   1.500   4/24/2040  CZK    64.374
Mallinckrodt Interna   5.750   08/01/2022 USD    52.000
Sovcombank Via SovCo   7.600              USD     5.000
Neoen SA               2.000   06/02/2025 EUR    52.958
Haya Real Estate SA    5.250  11/15/2022  EUR    69.645
Hacienda Investments   5.075   2/15/2023  USD    12.904
Romanian Government    2.625   12/02/2040 EUR    69.609
Sibur Securities DAC   2.950   07/08/2025 USD    27.500
Russian Federal Bond   6.100   7/18/2035  RUB    73.901
Intelsat Jackson Hol   8.500  10/15/2024  USD    44.491
VEON Holdings BV       4.000   04/09/2025 USD    62.404
Sovcombank Via SovCo   7.750              USD     4.969
Sibur Securities DAC   3.450   9/23/2024  USD    26.000
Celtic Resources Hol   4.125   10/09/2024 USD    30.000
PB International BV    7.625  12/31/2025  USD    43.017
Intelsat Jackson Hol   5.500   08/01/2023 USD    42.750
Intelsat Jackson Hol   9.750   7/15/2025  USD    44.512
Rallye SA              4.000   2/28/2032  CHF    12.000
Neoen SA               1.875   10/07/2024 EUR    42.543
Lukoil Capital DAC     3.600  10/26/2031  USD    36.500
O1 Properties Financ   0.500   9/27/2028  USD     6.203
BP Capital Markets B   0.933   12/04/2040 EUR    72.701
Vonovia Finance BV     1.000   1/28/2041  EUR    67.948
BAT International Fi   2.250   09/09/2052 GBP    55.639
Cardea Europe AG       7.250   12/08/2023 EUR    68.007
Mallinckrodt Interna   4.750   4/15/2023  USD    41.250
Russian Foreign Bond   4.875   9/16/2023  USD    27.247
SCF Capital Designat   5.375   6/16/2023  USD    21.121
Karlou BV              7.750   6/18/2024  USD    17.040
Maisons du Monde SA    0.125   12/06/2023 EUR    47.017
Russian Foreign Bond   5.250   6/23/2047  USD    19.413
Russian Foreign Bond   5.100   3/28/2035  USD    15.000
Biocartis Group NV     4.000   05/09/2024 EUR    72.252
Arrival SA             3.500   12/01/2026 USD    66.011
Bank Gospodarstwa Kr   2.375  11/27/2040  PLN    52.326
State of North Rhine   0.500   1/15/2052  EUR    72.768
Pierre Et Vacances S   2.000   04/01/2023 EUR    27.763
Deutsche Bahn Financ   0.625   12/08/2050 EUR    67.276
Ukreximbank Via Biz    9.950  11/14/2029  USD    26.830
Credit Bank of Mosco   7.121   6/25/2024  USD    99.537
Prosus NV              4.027   08/03/2050 USD    71.590
State of North Rhine   1.375   1/15/2120  EUR    70.917
Czech Republic Gover   0.050  11/29/2029  CZK    71.695
Republic of Poland G   4.000   4/25/2047  PLN    69.358
Turkey Government Bo  11.000   2/24/2027  TRY    69.500
Wirecard AG            0.500   09/11/2024 EUR    12.181
Lukoil Capital DAC     2.800   4/26/2027  USD    47.500
Union Fenosa Prefere   1.173              EUR    67.420
PJSC Koks via IMH Ca   5.900   9/23/2025  USD     5.660
Lukoil Securities BV   3.875   05/06/2030 USD    36.000
Sibur Securities DAC   4.125   10/05/2023 USD    27.036
Rallye SA              3.400   2/28/2032  EUR    14.761
MHP SE                 7.750   05/10/2024 USD    50.948
Rallye SA              5.250   2/28/2032  EUR    14.191
Lukoil International   6.656   06/07/2022 USD    72.000
Alfa Bank AO Via Alf   5.500  10/26/2031  USD     8.900
Gazprom PJSC Via Gaz   8.625   4/28/2034  USD    26.000
Gazprom PJSC Via Gaz   4.950   02/06/2028 USD    41.000
Ziton A/S              7.900   10/03/2022 EUR    70.389
Senvion Holding GmbH   3.875  10/25/2022  EUR     0.286
HOCHDORF Holding AG    2.500              CHF    48.325
Luzerner Kantonalban   0.150   10/07/2044 CHF    72.293
Offshore Drilling Ho   8.375   9/20/2020  USD     5.000
Banque Cantonale de    0.100   11/01/2044 CHF    70.359
Hungary Government B   2.250   6/22/2034  HUF    63.269
DNB Bank ASA           0.954              USD    74.531
Russian Foreign Bond   4.250   6/23/2027  USD    20.000
Nostrum Oil & Gas Fi   7.000   2/16/2025  USD    24.625
State of Rhineland-P   0.375   03/10/2051 EUR    71.499
MHP Lux SA             6.250   9/19/2029  USD    51.105
SRV Group Oyj          4.875   3/27/2025  EUR    70.585
Hungary Government B   2.000   5/23/2029  HUF    72.662
Russian Foreign Bond   5.625   04/04/2042 USD    21.951
Societe Nationale SN   0.875   2/28/2051  EUR    68.565
Suek Securities DAC    3.375   9/15/2026  USD    13.000
Nexity SA              0.875   4/19/2028  EUR    50.510
Econocom Group SA/NV   0.500   03/06/2023 EUR     8.036
PREOS Global Office    7.500   12/09/2024 EUR    63.500
State of Brandenburg   0.300  11/17/2045  EUR    71.427
Mallinckrodt Interna   5.625  10/15/2023  USD    52.500
Rallye SA              3.250   2/28/2032  CHF    15.000
Ukraine Government B   9.790   5/26/2027  UAH    48.452
Eurochem Finance DAC   5.500   3/13/2024  USD    40.000
Intu Debenture PLC     5.562  12/31/2027  GBP    41.125
Lukoil International   4.563   4/24/2023  USD    54.000
Credit Bank of Mosco   3.875   9/21/2026  USD     3.000
Paragon GmbH & Co KG   4.000   4/23/2023  CHF    25.000
Gazprom PJSC Via Gaz   4.950   7/19/2022  USD    60.500
EYEMAXX Real Estate    5.500   7/22/2025  EUR    75.000
Galapagos Holding SA   7.000   6/15/2022  EUR     4.000
Turkey Government Bo   8.000   03/12/2025 TRY    72.500
EA Partners II BV      6.750   06/01/2021 USD     0.541
Severstal OAO Via St   3.150   9/16/2024  USD    11.191
FF Group Finance Lux   1.750   07/03/2019 EUR     4.479
Travelex Financing P   8.000   5/15/2022  EUR     1.583
Linde PLC              1.000   9/30/2051  EUR    70.616
Turkey Government Bo  10.500   08/11/2027 TRY    67.000
MHP Lux SA             6.950   04/03/2026 USD    51.025
Ukraine Government I   7.253   3/15/2033  USD    32.161
NPC Ukrenergo          6.875   11/09/2026 USD    33.474
Ukraine Government I   7.750   09/01/2022 USD    57.012
Celtic Resources Hol   4.125   10/09/2024 USD    31.965
Metinvest BV           8.500   4/23/2026  USD    54.000
Haya Real Estate SA    5.125  11/15/2022  EUR    69.889
Kernel Holding SA      6.750  10/27/2027  USD    52.730
Fuerstenberg Capital   1.020              EUR    63.481
Lithuania Government   0.750   7/15/2051  EUR    71.171
Ukraine Government I   7.750   09/01/2025 USD    34.870
Wellcome Trust Ltd/T   1.500   7/14/2071  GBP    69.346
Mallinckrodt Interna   5.500   4/15/2025  USD    53.000
DOF Subsea AS          9.110  11/27/2023  NOK    36.833
Unibail-Rodamco-West   1.750   07/01/2049 EUR    72.205
Immigon Portfolioabb   5.772              EUR    10.766
Gazprom PJSC via Gaz   4.599              USD    15.000
Kernel Holding SA      6.500  10/17/2024  USD    53.741
Tinkoff Bank JSC Via   6.000              USD    10.213
VEON Holdings BV       7.250   4/26/2023  USD    69.564
Credit Bank of Mosco   4.700   1/29/2025  USD    19.250
Thomas Cook Group PL   6.250   6/15/2022  EUR     0.518
Kommunekredit          0.125   9/26/2040  EUR    73.000
Metinvest BV           7.750  10/17/2029  USD    52.500
DOF Subsea AS          9.500   4/30/2022  USD    37.457
PIK Securities DAC     5.625  11/19/2026  USD     6.350
Shell International    1.750   09/10/2052 GBP    67.251
Air Berlin PLC         8.250   4/19/2018  EUR     0.892
Gazprom Neft OAO Via   6.000  11/27/2023  USD    27.500
DNB Bank ASA           0.758              USD    74.584
State of North Rhine   0.200   1/27/2051  EUR    66.848
EA Partners I BV       6.875   9/28/2020  USD     1.000
Gazprom PJSC via Gaz   3.250   2/25/2030  USD    42.500
Metalloinvest Financ   3.375  10/22/2028  USD    20.500
Scandinavian Airline   0.625              CHF    15.649
Societe Du Grand Par   0.700  10/15/2060  EUR    61.612
Claranova SE           5.000   07/01/2023 EUR     1.070
Allied Irish Banks P  12.500   6/25/2035  GBP    55.973
VEON Holdings BV       5.950   2/13/2023  USD    70.282
Flagship Finance PLC   1.875   7/14/2061  GBP    72.515
Hylea Group SA         7.250   12/01/2022 EUR     3.750
Nestle Finance Inter   0.375   12/03/2040 EUR    72.053
AstraZeneca PLC        2.125   08/06/2050 USD    68.966
State of Saxony-Anha   0.500   3/24/2051  EUR    74.213
Russian Foreign Bond   4.375   3/21/2029  USD    14.807
Koninklijke Luchtvaa   0.750              CHF    20.500
Lukoil International   4.750   11/02/2026 USD    40.000
Metinvest BV           7.650   10/01/2027 USD    52.390
Norddeutsche Landesb   7.490              EUR    62.757
EYEMAXX Real Estate    5.500   4/26/2023  EUR     3.985
Slovenia Government    0.688   03/03/2081 EUR    51.385
Deutsche Lichtmiete    5.750   01/01/2023 EUR     5.000
City of Kyiv Via PBR   7.500  12/15/2022  USD    35.000
Russian Foreign Bond   4.750   5/27/2026  USD    20.495
NAK Naftogaz Ukraine   7.625   11/08/2026 USD    31.644
VEON Holdings BV       4.950   6/16/2024  USD    62.987
Aggregate Holdings S   5.500   5/17/2024  EUR    49.764
Ukraine Government I   7.750   09/01/2024 USD    35.306
Gazprom PJSC Via Gaz   7.288   8/16/2037  USD    45.000
Russian Foreign Bond   5.875   9/16/2043  USD    22.784
Rickmers Holding AG    8.875   06/11/2018 EUR     0.810
Hellenic Bank PCL     10.000              EUR    57.019
BAT International Fi   2.000   3/13/2045  EUR    67.990
Deutsche Wohnen SE     1.300   04/07/2041 EUR    71.481
Ukraine Government I   6.876   5/21/2029  USD    32.380
City of Lugano Switz   0.150  11/28/2070  CHF    53.281
Russian Foreign Bond   2.875   12/04/2025 EUR    15.191
Polski Koncern Nafto   2.875   3/25/2031  PLN    70.539
ALROSA Finance SA      4.650   04/09/2024 USD    20.000
Borets Finance DAC     6.000   9/17/2026  USD    22.635
National Grid Gas PL   1.625   1/14/2043  GBP    68.455
Dexia Credit Local S   1.206              EUR     2.906
VTB Bank OJSC Via VT   6.950  10/17/2022  USD     7.515
OGX Austria GmbH       8.375   04/01/2022 USD     0.003
Genfit                 3.500  10/16/2025  EUR    25.028
European Financial S   0.050   1/18/2052  EUR    62.348
Autonomous Community   2.965   09/08/2039 JPY    67.257
MMK International Ca   4.375   6/13/2024  USD    25.000
Eurotorg LLC Via Bon   9.000  10/22/2025  USD    29.000
Sberbank of Russia V   5.125  10/29/2022  USD   100.375
Gazprom PJSC Via Gaz   4.950   3/23/2027  USD    93.000
Pentracor GmbH         8.500   5/29/2025  EUR    14.700
Phosagro OAO Via Pho   2.600   9/16/2028  USD    19.500
Air Berlin PLC         6.750   05/09/2019 EUR     0.415
Metinvest BV           7.750   4/23/2023  USD    52.020
Lehman Brothers UK C   5.125              EUR    35.000
FF Group Finance Lux   3.250   11/02/2021 CHF     6.705
Clarion Funding PLC    1.875   09/07/2051 GBP    73.826
Banco Espirito Santo   7.125  11/28/2023  EUR     0.523
Cooperatieve Raboban   0.010  11/27/2040  EUR    70.652
Societe Nationale SN   1.000   1/19/2061  EUR    63.004
BAT International Fi   4.000  11/23/2055  GBP    72.528
Gazprom PJSC via Gaz   2.950   1/27/2029  USD    24.500
Evraz PLC              5.250   04/02/2024 USD    61.050
Officine Maccaferri-   5.750   06/01/2021 EUR    16.959
City of Lausanne Swi   0.050   9/28/2054  CHF    61.630
VF Ukraine PAT via V   6.200   02/11/2025 USD    50.119
University College L   1.625   06/04/2061 GBP    75.378
Republic of Belarus    6.378   2/24/2031  USD    12.625
Novolipetsk Steel Vi   4.700   5/30/2026  USD    35.000
Gazprom PJSC Via Gaz   5.150   02/11/2026 USD    24.667
Alno AG                8.500   5/14/2018  EUR    17.864
Societe Du Grand Par   1.000   2/18/2070  EUR    64.082
Cie Generale des Eta   0.625   11/02/2040 EUR    72.227
Ukreximbank Via Biz    9.625   4/27/2022  USD    26.283
Mallinckrodt Interna   5.750   08/01/2022 USD    48.250
Land Berlin            0.050   08/06/2040 EUR    72.737
Rallye SA              1.000   2/28/2032  EUR    15.731
Land Baden-Wuerttemb   0.125  11/19/2040  EUR    73.977
ALROSA Finance SA      3.100   6/25/2027  USD    88.500
Ukreximbank Via Biz    7.623   02/09/2023 USD    31.731
Senivita Social Esta   4.000   05/12/2025 EUR     5.120
Caisse Francaise de    0.500   10/01/2046 EUR    74.427
Interpipe Holdings P   8.375   5/13/2026  USD    36.467
Ukraine Government B  10.000   8/23/2023  UAH    69.318
Republic of Belarus    6.200   2/28/2030  USD    12.750
Barclays Bank PLC      0.500   1/28/2033  MXN    32.137
Ukraine Government B   9.990   5/22/2024  UAH    55.440
Ukraine Government B   3.700   4/27/2023  USD    51.431
Uralkali OJSC Via Ur   4.000  10/22/2024  USD    20.767
Hamon & CIE SA         3.300   1/31/2035  EUR    46.000
Stichting Afwikkelin  11.250              EUR     0.622
Credit Bank of Mosco   3.100   1/21/2026  EUR    13.513
Debenhams PLC          5.250   7/15/2021  GBP     0.500
TenneT Holding BV      0.500  11/30/2040  EUR    71.292
Hellenic Republic Go   2.085   7/25/2057  EUR    37.993
Hyde Housing Associa   1.750   8/18/2055  GBP    70.226
EYEMAXX Real Estate    5.500   9/24/2024  EUR     4.013
Avangardco Investmen  10.000  10/29/2018  USD     0.348
Havila Shipping ASA    5.920   01/02/2025 NOK    32.247
Deutsche Lichtmiete    5.250   02/01/2027 EUR    10.509
Gazprom Neft OAO Via   4.375   9/19/2022  USD    31.102
Vnesheconombank Via    6.800  11/22/2025  USD     5.000
Gazprom PJSC via Gaz   3.500   7/14/2031  USD    24.667
Ukraine Government I   7.750   09/01/2026 USD    34.481
Portugal Telecom Int   6.250   7/26/2016  EUR     0.285
Yuksel Insaat AS       9.500   11/10/2015 USD     0.100
Deutsche Lichtmiete    5.250   09/01/2025 EUR    11.500
Mitsubishi UFJ Inves   3.802  12/30/2099  EUR     5.100
Privatbank CJSC Via   10.250   1/23/2018  USD     4.000
MMC Norilsk Nickel O   2.800  10/27/2026  USD    50.000
Ukreximbank Via Biz    9.750   1/22/2025  USD    41.178
Ukraine Government I  15.840   2/26/2025  UAH    55.455
Alfa Bank AO Via Alf   5.950   4/15/2030  USD    10.000
State of Bremen        0.400   8/20/2049  EUR    72.041
Severstal OAO Via St   5.900  10/17/2022  USD    31.000
Sberbank of Russia V   5.250   5/23/2023  USD    12.091
City of Lausanne Swi   0.540   11/06/2062 CHF    69.284
Hellas Telecommunica   6.054   1/15/2015  USD     0.001
Novatek OAO Via Nova   4.422  12/13/2022  USD    21.125
VTB Bank OJSC Via VT   6.250   6/30/2035  USD    22.000
Prosus NV              4.027   08/03/2050 USD    71.444
Nordiska Kreditmarkn   8.816              SEK    72.108
Gazprom PJSC Via Gaz   3.125  11/17/2023  EUR    26.939
Northern Powergrid N   1.875   6/16/2062  GBP    71.050
City of Bern Switzer   0.040   10/02/2070 CHF    54.070
ESFIL-Espirito Santo   5.250   06/12/2015 EUR     0.111
State of North Rhine   0.375   09/02/2050 EUR    71.090
Republic of Belarus    5.875   2/24/2026  USD    13.000
Credit Bank of Mosco   7.625              USD    17.750
Swissgrid AG           0.050   6/30/2050  CHF    62.655
Deutsche Lichtmiete    5.750   12/01/2023 EUR    10.000
Lehman Brothers UK C   5.750              EUR     7.000
Ukraine Government I   9.750   11/01/2028 USD    34.224
Andrade Gutierrez In  11.000   8/20/2021  USD    57.257
Bourbon Corp           8.305              EUR     0.544
Landwirtschaftliche    0.010  11/26/2040  EUR    73.012
Banca Popolare di Vi   9.500   9/29/2025  EUR     0.049
Sovcombank Via SovCo   7.600              USD     5.000
Gazprom PJSC via Gaz   3.897              EUR    18.809
Ukraine Government I   7.375   9/25/2032  USD    31.875
MMC Norilsk Nickel O   6.625  10/14/2022  USD   102.620
Lehman Brothers UK C   3.875              EUR    35.000
Phosagro OAO Via Pho   3.949   4/24/2023  USD    28.329
VTB Bank PJSC          5.000              USD    58.580
Ukraine Government B  11.670  11/22/2023  UAH    64.886
Alfa Bank AO Via Alf   5.900              USD     9.223
Global Ports Finance   6.500   9/22/2023  USD    10.000
Novolipetsk Steel Vi   1.450   06/02/2026 EUR    27.000
Land Thueringen        0.375   12/01/2051 EUR    71.050
Stichting Afwikkelin   6.250  10/26/2020  EUR     5.375
Basque Government      1.375  10/31/2070  EUR    58.642
Phosagro OAO Via Pho   3.050   1/23/2025  USD    22.500
Turkey Government In   5.750   05/11/2047 USD    72.588
Romanian Government    2.875   4/13/2042  EUR    70.280
Polyus Finance PLC     5.250   02/07/2023 USD    24.143
Muenchener Hypotheke   0.010  10/19/2039  EUR    72.280
UK Municipal Bonds A   1.625   8/26/2060  GBP    75.105
Ukraine Government B  11.000   6/21/2023  UAH    71.439
Ghelamco Invest        4.500   5/23/2022  EUR    40.010
Ukraine Government I   7.750   09/01/2023 USD    42.217
Republic of Poland G   1.750   4/25/2032  PLN    66.950
Credit Bank of Mosco   7.500   10/05/2027 USD     5.893
Thomas Cook Finance    3.875   7/15/2023  EUR     0.548
Region Wallonne Belg   0.650   1/16/2051  EUR    67.228
RTE Reseau de Transp   1.125   09/09/2049 EUR    73.434
Gazprom PJSC via Gaz   1.500   2/17/2027  EUR    27.024
Virgolino de Oliveir  10.500   1/28/2018  USD     0.010
OGX Austria GmbH       8.500   06/01/2018 USD     0.002
State Agency of Road   6.250   6/24/2028  USD    23.080
Banco Espirito Santo   2.223              EUR     0.120
Prosus NV              3.832   02/08/2051 USD    68.803
Polyus Finance PLC     3.250  10/14/2028  USD    28.050
VPV Lebensversicheru   3.477   8/17/2026  EUR    64.812
UkrLandFarming PLC    10.875   3/26/2018  USD     1.522
Hacienda Investments   5.350   02/08/2028 USD    10.024
Evraz PLC              5.375   3/20/2023  USD    60.050
Tresu Investment Hol   5.000   01/02/2025 EUR    48.800
Agrokor dd             9.875   05/01/2019 EUR    15.000
Ukraine Government I   4.375   1/27/2030  EUR    32.496
Verimatrix SA          6.000   6/29/2022  EUR     3.829
Ukraine Government B  10.950   11/01/2023 UAH    69.763
Republic of Ireland    0.995   2/24/2121  EUR    69.107
Virgolino de Oliveir  11.750   02/09/2022 USD     0.500
VTB Bank PJSC          3.750              EUR
Single Platform Inve   0.695   6/25/2039  EUR    73.664
Sovcombank Via SovCo   7.750              USD     4.969
MMC Norilsk Nickel O   4.100   04/11/2023 USD    52.115
Region de Bruxelles-   1.121   05/11/2071 EUR    66.936
Norske Skogindustrie   7.000  12/30/2026  EUR     0.010
Barclays Bank PLC      0.348   5/30/2034  USD    64.607
LSF9 Balta Issuer SA   3.000  12/31/2030  EUR    69.935
Virgolino de Oliveir  10.500   1/28/2018  USD     0.455
Tennor Finance BV      5.750   6/17/2024  EUR    75.000
Ukraine Government I   7.750   09/01/2027 USD    34.339
Alfa Bank AO Via Alf   5.500  10/26/2031  USD     8.900
MMC Norilsk Nickel O   3.375  10/28/2024  USD    50.000
Platform HG Financin   1.625   08/10/2055 GBP    70.092
EOS Imaging SA         6.000   5/31/2023  EUR     7.250
Sovcombank Via SovCo   3.400   1/26/2025  USD     5.197
New World Resources    8.000   04/07/2020 EUR     0.001
Alitalia-Societa Aer   5.250   7/30/2020  EUR     0.100
Land Berlin            0.350   09/09/2050 EUR    70.774
Fuerstenberg Capital   1.609              EUR    61.493
KTG Agrar SE           7.125   06/06/2017 EUR     1.869
Green City Energy Kr   4.000  12/30/2026  EUR    12.100
Barclays Bank PLC      2.468   11/01/2031 USD    70.729
Transcapitalbank JSC  10.000              USD    65.354
Ukraine Government I  12.520   5/13/2026  UAH    41.993
Norwegian Air Shuttl   5.000   02/07/2023 SEK    41.500
SCF Capital Designat   5.375   6/16/2023  USD    21.121
Deutsche Bank AG/Lon   1.625  10/31/2034  USD    67.727
Ukraine Government I  15.840   2/26/2025  UAH    55.455
SAS AB                 5.854              SEK    27.199
Barclays Bank PLC     12.000   9/24/2025  TRY    56.192
Mallinckrodt Interna   5.500   4/15/2025  USD    53.000
BPCE SA                2.255   03/12/2040 AUD    65.557
WD Invest Sarl         1.900   10/02/2024 EUR    11.576
State of Saarland      0.050   11/05/2040 EUR    72.685
Societe Centrale des   2.500   5/15/2023  EUR     6.970
Saleza AS              9.000   07/12/2021 EUR     0.203
Cirio Finance Luxemb   7.500   11/03/2002 EUR     1.426
Elli Finance UK PLC    8.750   6/15/2019  GBP    65.125
State of Bremen        0.450   2/24/2051  EUR    72.550
Espirito Santo Finan   3.125   12/02/2018 EUR     0.290
Societe Generale SA   10.000   10/01/2036 USD    75.250
Borets Finance DAC     6.500   04/07/2022 USD    36.739
Region Wallonne Belg   1.250   6/22/2071  EUR    68.401
Russian Federal Bond   0.250   7/20/2044  RUB    50.500
Civitas Properties F   4.000  11/24/2022  EUR    65.000
Barclays Bank PLC      1.139   1/27/2031  USD    72.372
MMC Norilsk Nickel O   2.550   09/11/2025 USD    44.737
Espirito Santo Finan   9.750  12/19/2025  EUR     0.290
MFB Magyar Fejleszte   2.900  10/22/2031  HUF    70.632
Sovcombank Via SovCo   8.000   04/07/2030 USD     5.000
Veneto Banca SpA       9.878   12/01/2025 EUR     0.571
VTB Bank PJSC Via VT   9.500              USD     8.086
Canton of Neuchatel    0.100  10/29/2049  CHF    66.571
Land Berlin            0.125  11/24/2045  EUR    69.192
Cirio Holding Luxemb   6.250   2/16/2004  EUR     0.723
Metinvest BV           5.625   6/17/2025  EUR    52.484
Mobile Telesystems O   5.000   5/30/2023  USD    23.452
EDOB Abwicklungs AG    7.500   04/01/2012 EUR     2.789
Spain Government Bon   1.000  10/31/2050  EUR    71.603
Solarworld AG          9.691   2/24/2019  EUR    20.875
Jain International T   7.125   3/31/2026  USD    28.000
VTB Bank PJSC          4.763              USD    58.120
Praktiker AG           5.875   02/10/2016 EUR     0.069
Privatbank CJSC Via   11.000   02/09/2021 USD     1.000
Muenchener Hypotheke   0.010   11/02/2040 EUR    71.112
Societe Generale SA   11.000  10/30/2036  USD    73.500
Corporate Commercial   8.250   08/08/2014 USD     0.308
Solon SE               1.375   12/06/2012 EUR     0.745
Gazprom PJSC via Gaz   1.850  11/17/2028  EUR    27.562
Land Thueringen        0.125   1/13/2051  EUR    65.536
Banco Santander SA     1.909              EUR     1.663
Ukraine Government I   8.994   02/01/2024 USD    37.131
Jain International T   7.125   02/01/2022 USD    22.424
Ukraine Government I   6.750   6/20/2026  EUR    32.851
Banco Espirito Santo   6.875   7/15/2016  EUR    24.500
Russian Foreign Bond   5.250   6/23/2047  USD    17.625
Offshore Drilling Ho   8.375   9/20/2020  USD     5.000
Frigoglass Finance B   6.875   02/12/2025 EUR    70.218
Credit Bank of Mosco   5.550   2/14/2023  USD    16.968
La Veggia Finance SA   7.125  11/14/2004  EUR     0.287
Barclays Bank PLC      2.328  11/29/2030  USD    70.706
Chelyabinsk Pipe Pla   4.500   9/19/2024  USD    10.000
niiio finance group    4.000   5/31/2026  EUR    75.000
LBI ehf                6.100   8/25/2011  USD    10.709
Cooperatieve Raboban   0.500  10/30/2043  MXN    13.302
Andrade Gutierrez In   9.500  12/30/2024  USD    61.375
Republic of Belarus    7.625   6/29/2027  USD    12.088
Intelsat Jackson Hol   8.500  10/15/2024  USD    44.491
Espirito Santo Finan   6.875  10/21/2019  EUR     0.244
Cirio Finanziaria Sp   8.000  12/21/2005  EUR     0.750
Landesbank Hessen-Th   1.650   5/27/2030  EUR     1.095
Novolipetsk Steel Vi   4.500   6/15/2023  USD    35.758
Vnesheconombank Via    6.025   07/05/2022 USD     5.132
Ville de Paris         0.450  10/20/2045  EUR    71.588
New World Resources    4.000   10/07/2020 EUR     0.376
Air Berlin PLC         5.625   05/09/2019 CHF     0.678
Havila Shipping ASA    5.170   01/02/2025 NOK    40.000
de Volksbank NV        0.125  11/19/2040  EUR    72.711
Mallinckrodt Interna   5.625  10/15/2023  USD    52.323
RUSNANO AO             6.750   12/12/2023 RUB    68.900
Quintet Private Bank   3.650  11/13/2023  EUR    51.300
State of Lower Austr   0.460   10/08/2049 EUR    70.445
Dexia SA               1.230              EUR     3.125
BPCE SA                1.703              EUR    65.898
Hema Bondco II BV      8.500   1/15/2023  EUR     0.113
German Pellets GmbH    7.250   07/09/2018 EUR     1.879
Land Berlin            0.100   1/18/2041  EUR    73.163
Bank Vontobel AG      15.000   11/07/2022 EUR    50.200
Nostrum Oil & Gas Fi   8.000   7/25/2022  USD    26.763
Norske Skogindustrie   2.000  12/30/2115  EUR     0.113
Banca Popolare di Vi   2.821  12/20/2017  EUR     0.100
Sairgroup Finance BV   4.375   06/08/2006 EUR     1.568
WPE International Co  10.375   9/30/2020  USD     5.000
Standard Profil Auto   6.250   4/30/2026  EUR    71.414
Free and Hanseatic C   0.200   09/03/2049 EUR    67.866
Polski Fundusz Rozwo   2.000   03/05/2030 PLN    70.306
Region de Bruxelles-   0.765   7/15/2052  EUR    69.618
German Pellets GmbH    7.250  11/27/2019  EUR     1.879
Rusal Capital DAC      5.300   05/03/2023 USD    40.000
Alpine Holding GmbH    6.000   5/22/2017  EUR     3.084
Nationale-Nederlande   0.050   11/12/2040 EUR    73.122
Sidetur Finance BV    10.000   4/20/2016  USD     0.770
Region Wallonne Belg   1.225   09/02/2120 EUR    57.652
Ukraine Government I   9.790   5/26/2027  UAH    48.452
Bilt Paper BV         10.360              USD     1.345
Rhaetische Bahn Stam   0.050   08/03/2050 CHF    67.757
Transports Publics D   0.450  12/29/2056  CHF    66.307
Enertronica Santerno   7.000  12/31/2022  EUR    69.000
Finmek International   7.000   12/03/2004 EUR     2.193
State of Lower Austr   1.000   9/15/2121  EUR    66.969
Polyus Finance PLC     4.700   1/29/2024  USD    26.665
City of Zurich Switz   0.250  11/24/2051  CHF    72.238
Ukraine Government I  11.670  11/22/2023  UAH    64.886
Novolipetsk Steel Vi   4.000   9/21/2024  USD    30.521
OGX Austria GmbH       8.375   04/01/2022 USD     0.002
Lehman Brothers UK C   6.900              USD     3.986
Midland Heart Capita   1.831   08/12/2050 GBP    74.800
CBo Territoria         3.750   07/01/2024 EUR     4.700
Joh Friedrich Behren   6.250   6/18/2024  EUR    28.812
Vnesheconombank Via    5.942  11/21/2023  USD     5.000
Ukraine Government I  12.520   5/13/2026  UAH    41.993
Kairos Global Soluti   1.900   07/03/2035 USD    69.704
Dolphin Drilling ASA   4.490   8/28/2019  NOK     0.644
Banco Espirito Santo   6.900   6/28/2024  EUR    24.500
Russian Railways JSC   7.850   07/10/2028 RUB    68.620
Windreich GmbH         6.500   7/15/2016  EUR     4.475
Free and Hanseatic C   0.400  11/23/2051  EUR    71.297
Dtek Renewables Fina   8.500   11/12/2024 EUR    36.881
Cooperatieve Raboban   0.500   7/30/2043  MXN    13.535
State Savings Bank o   7.293   1/19/2024  USD    26.460
Andrade Gutierrez In  11.000   8/20/2021  USD    57.257
AK BARS Bank Via AK    8.000   7/13/2022  USD    24.745
Russian Foreign Bond   5.625   04/04/2042 USD    22.131
Ukraine Government B  12.520   5/13/2026  UAH    41.993
Kommunekredit          0.869   11/12/2043 SEK    68.490
KTG Agrar SE           7.250  10/15/2019  EUR     1.869
Sibur Securities DAC   4.125   10/05/2023 USD    27.036
SAir Group             5.500   7/23/2003  CHF    12.625
Golfino AG             8.000  11/18/2023  EUR     0.020
Kommunekredit          0.869   11/12/2043 SEK    68.059
State of Brandenburg   0.125   1/26/2046  EUR    69.147
CB First Investment    8.000              EUR    71.610
Turkiye Is Bankasi A   6.125   4/25/2024  USD    99.240
Russian Agricultural   8.500  10/16/2023  USD     5.026
Rusal Capital DAC      4.850   02/01/2023 USD    30.653
Lloyds Bank PLC        0.256   9/29/2034  USD    69.145
CRC Breeze Finance S   6.110   05/08/2026 EUR    31.525
Communaute Francaise   0.788   8/30/2049  EUR    68.773
Cirio Del Monte NV     7.750   3/14/2005  EUR     0.355
Agrokor dd             9.125   02/01/2020 EUR    15.000
Assistance Publique    1.099   04/06/2071 EUR    66.427
Canton of Neuchatel    0.350   7/14/2050  CHF    71.791
Bank Nadra Via NDR F   8.250   7/31/2018  USD     0.208
State of Brandenburg   0.050   08/10/2040 EUR    72.754
Home Credit & Financ   8.000   06/01/2026 RUB    76.010
Takarek Mortgage Ban   3.000  10/22/2031  HUF    68.700
Romanian Government    3.375   1/28/2050  EUR    71.114
Assistance Publique    0.791   8/27/2051  EUR    70.834
Barclays Bank PLC      1.444  10/30/2034  USD    66.408
Stichting Afwikkelin   6.625   5/14/2018  EUR     5.375
Virgolino de Oliveir  10.875   1/13/2020  USD    36.000
Region Wallonne Belg   1.246   05/12/2070 EUR    67.180
Credit Suisse AG       0.500  12/16/2025  BRL    64.838
Region de Bruxelles-   1.100   6/22/2066  EUR    68.079
BPCE SA                2.450   2/24/2035  AUD    73.871
Pfandbriefzentrale d   0.050   10/06/2043 CHF    72.791
Grupo Isolux Corsan    1.000  12/30/2021  EUR     0.100
UBS AG/London         13.250   05/04/2022 USD    28.100
Sibur Holding PAO      1.500   10/01/2032 USD    26.000
Credit Bank of Mosco   8.875              USD     5.321
PJSC Koks via IMH Ca   5.900   9/23/2025  USD     5.660
City of Lausanne Swi   0.230   11/01/2060 CHF    61.560
Waste Italia SpA      10.500  11/15/2019  EUR     0.550
Kommunekredit          0.500   7/30/2027  TRY    20.201
BPCE SA                2.285   12/03/2035 AUD    70.970
Cattles Ltd            8.125   07/05/2017 GBP     0.027
Barclays Bank PLC      5.000   11/01/2029 BRL    62.782
Tonon Luxembourg SA    9.250   1/24/2020  USD     0.500
V-Bank AG              4.000              EUR    62.808
BASF SE                1.025   8/13/2048  JPY    71.715
Deutsche Bank AG       0.687   10/11/2049 EUR    55.193
Kingdom of Belgium G   0.459   7/23/2079  EUR    49.689
Serbia International   2.050   9/23/2036  EUR    69.199
NTRP Via Interpipe L  10.250   08/02/2017 USD    29.088
Erotik-Abwicklungsge   7.750   07/09/2019 EUR     0.779
Hellas Telecommunica   8.500  10/15/2013  EUR     0.834
Batigere Grand Est S   1.500  12/15/2051  EUR    70.355
Basque Government      1.000  10/31/2050  EUR    66.544
VTB Bank OJSC Via VT   6.250   6/30/2035  USD    22.000
Sberbank of Russia P   7.000   03/11/2031 RUB    70.000
Bank Julius Baer & C  13.250   01/05/2023 USD    45.700
Single Platform Inve   0.656   9/20/2050  EUR    64.372
Phosphorus Holdco PL  10.000   04/01/2019 GBP     1.500
Banco Espirito Santo   2.403              EUR     0.254
Haya Real Estate SA    5.250  11/15/2022  EUR    69.708
Republic of Ireland    1.230   6/23/2121  EUR    72.610
Barclays Bank PLC      1.092   7/28/2034  USD    64.336
Privatbank CJSC Via   10.875   2/28/2018  USD     8.000
Lloyds Bank PLC        0.444   7/29/2033  USD    65.475
Bayer Construct Epit   3.700  10/21/2031  HUF
Societe Nationale SN   1.280   3/27/2120  EUR    55.832
Turkey Government Bo   1.500   10/09/2024 TRY
VTB Bank PJSC          3.750              EUR    56.000
Ukraine Government B   3.700  12/22/2022  USD    68.002
VTB Bank PJSC          7.600   04/02/2031 RUB    62.000
Stichting Afwikkelin   2.275              EUR     0.622
A-TEC Industries AG    8.750  10/27/2014  EUR     0.100
Sibur Securities DAC   2.950   07/08/2025 USD    27.454
J&T Energy Financing   4.250   2/18/2027  EUR    76.358
Irish Bank Resolutio   0.566   6/21/2016  EUR     0.500
Norwegian Air Shuttl   6.375  11/15/2024  USD    46.912
Russian Post FGUP      5.070  11/17/2023  RUB    60.090
BOA Offshore AS        0.409   7/17/2047  NOK     5.256
Agrokor dd Via Aquar   4.921   08/08/2017 EUR    14.625
Infogroup Holding Kf   3.000   5/20/2031  HUF    65.350
Moby SpA               7.750   2/15/2023  EUR    73.501
State of Brandenburg   0.300   10/04/2049 EUR    70.086
Muenchener Hypotheke   0.250  10/31/2044  CHF    73.117
Green City Energy Kr   5.000  12/31/2036  EUR    12.100
SiC Processing GmbH    7.125   03/01/2016 EUR     1.449
Ukraine Government I  11.670  11/22/2023  UAH    64.886
Orient Express Bank    2.000              USD    19.964
Serbia International   1.650   03/03/2033 EUR    72.261
Resa SA/Belgium        1.950   7/22/2036  EUR    50.010
Kingdom of Belgium G   1.170   05/12/2121 EUR    67.133
Alno AG                8.000   3/21/2019  EUR    15.000
Free and Hanseatic C   0.300   9/16/2050  EUR    69.504
Russian Foreign Bond   5.875   9/16/2043  USD    22.460
Region Wallonne Belg   1.000   9/16/2059  EUR    67.473
BPCE SA                2.550   06/09/2035 AUD    74.232
Steilmann SE           7.000   9/23/2018  EUR     1.429
Caisse des Depots et   0.398  12/15/2050  EUR    71.135
Romanian Government    2.625   12/02/2040 EUR    69.869
SCF Capital Designat   3.850   4/26/2028  USD    15.114
Bulgaria Steel Finan  12.000   05/04/2013 EUR     0.216
Credit Agricole SA     3.000   1/28/2041  AUD    65.333
Barclays Bank PLC      1.072  12/30/2030  USD    72.051
Ukraine Government I  10.000   8/23/2023  UAH    69.318
NRW Bank               0.106   8/17/2050  EUR    67.539
VIS Finance LLC        9.150   3/22/2024  RUB    71.800
OR PJSC               12.000   9/22/2022  RUB    18.700
Del Monte Finance Lu   6.625   5/24/2006  EUR     4.335
LP Portfolio Vagyonk   3.400   9/23/2031  HUF    60.000
Ukraine Government I   7.750   09/01/2027 USD    34.249
MOL Hungarian Oil &    1.900   04/12/2031 HUF    61.700
Steilmann SE           7.000   03/09/2017 EUR     1.429
Russian Foreign Bond   1.850  11/20/2032  EUR    15.093
Societe Du Grand Par   0.576  10/29/2052  EUR    67.123
Republic of Ireland    1.320  11/28/2119  EUR    61.265
Deutsche Bank AG       1.725   1/16/2045  EUR    63.078
SNCF Reseau            1.425   8/14/2119  EUR    66.025
Russian Foreign Bond   4.875   9/16/2023  USD    26.319
DZ Bank AG Deutsche    0.550   4/29/2024  EUR    42.126
Ville de Paris         0.831   2/23/2056  EUR    69.708
Romanian Government    3.375   1/28/2050  EUR    71.135
Credit Suisse Intern   9.500   3/24/2026  UAH    63.550
Ahtium PLC             4.000  12/16/2015  EUR     0.586
Region de Bruxelles-   0.592   12/10/2061 EUR    58.432
DekaBank Deutsche Gi   7.650   03/10/2023 EUR    32.330
Leonteq Securities A   8.380   7/20/2022  CHF    40.600
Virgolino de Oliveir  11.750   02/09/2022 USD     0.500
Regie Autonome des T   0.938   5/25/2050  EUR    72.761
Ukraine Government B   3.890   02/02/2023 USD    63.855
Kingdom of Belgium G   0.650   6/22/2071  EUR    57.924
Elli Investments Ltd  12.250   6/15/2020  GBP    52.250
Barclays Bank PLC     10.200   2/16/2023  USD    51.200
Grupo Isolux Corsan    6.000  12/30/2021  EUR     0.263
Windreich GmbH         6.250   03/01/2015 EUR     4.475
Ville de Paris         0.850   08/04/2051 EUR    73.425
Turkey Government In   4.875   4/16/2043  USD    68.838
Espirito Santo Finan   5.050  11/15/2025  EUR     0.290
Van Lanschot Kempen    1.410   04/04/2024 EUR   100.150
OR PJSC               12.000  11/14/2024  RUB    17.380
Windreich GmbH         6.500   03/01/2015 EUR     4.475
Gebr Sanders GmbH &    8.750  10/22/2018  EUR     9.375
Landeskreditbank Bad   0.610  11/17/2050  EUR    73.636
Legenda OOO            9.950   04/08/2025 RUB    70.100
Russian Foreign Bond   4.375   3/21/2029  USD    13.000
Assistance Publique    0.634   8/27/2045  EUR    73.190
Finance and Credit B   9.250   1/25/2019  USD     0.001
Windreich GmbH         6.750   03/01/2015 EUR     4.475
WEB Windenergie AG     2.250   9/25/2028  EUR     0.010
DZ Bank AG Deutsche   11.680   8/26/2022  EUR    51.470
Norske Skog Holding    8.000   2/24/2021  EUR     0.006
Romanian Government    2.750   4/14/2041  EUR    70.442
Region de Bruxelles-   0.444   3/19/2057  EUR    55.173
Single Platform Inve   0.363   2/15/2041  EUR    67.233
Depfa Funding II LP    6.500              EUR    61.379
Credit Bank of Mosco   7.121   6/25/2024  USD    20.909
Intelsat Jackson Hol   9.750   7/15/2025  USD    44.512
Societe Generale SA   21.000  12/23/2022  USD    62.800
Joh Friedrich Behren   7.750   11/11/2020 EUR    29.250
German Pellets GmbH    7.250   04/01/2016 EUR     1.879
Sairgroup Finance BV   6.625   10/06/2010 EUR     1.568
Pescanova SA           5.125   4/20/2017  EUR     0.319
Alpine Holding GmbH    5.250   07/01/2015 EUR     3.084
Ukraine Government I   7.253   3/15/2033  USD    32.250
State of Rhineland-P   0.375   7/20/2048  EUR    70.368
Agrokor dd             8.875   02/01/2020 USD    15.000
Rio Forte Investment   4.000   7/22/2014  EUR     4.411
Stichting Afwikkelin   8.450   8/20/2018  USD     5.375
Futureal Development   3.500  11/16/2036  HUF    74.000
Vontobel Financial P   9.400   5/13/2022  EUR    41.970
Credit Bank of Mosco   4.500   7/15/2022  RUB    61.020
Societe Generale SA   17.604   8/24/2023  USD    48.500
Credit Bank of Mosco   5.150   2/20/2024  EUR    14.965
Land Baden-Wuerttemb   0.375   7/20/2048  EUR    71.570
Grenke Finance PLC     0.819   2/15/2030  EUR    70.853
Region Hauts-de-Fran   0.402   2/18/2043  EUR    72.009
Republic of Ireland    0.740  11/27/2120  EUR    50.909
Centrosolar Group AG   7.000   2/15/2016  EUR     2.505
Single Platform Inve   1.023   2/15/2046  EUR    73.867
Sibur Securities DAC   3.450   9/23/2024  USD    38.000
Steilmann SE           6.750   6/27/2017  EUR     2.184
State of Mecklenburg   0.239  11/17/2070  EUR    57.921
Cooperatieve Raboban   0.500  10/29/2027  MXN    59.186
Aralco Finance SA     10.125   05/07/2020 USD     3.224
Spain Government Bon   1.450  10/31/2071  EUR    64.379
UBS AG/London         16.000  12/29/2022  CHF    67.150
Alteo Nyrt             3.150  10/28/2029  HUF    66.700
Slovenia Government    1.175   2/13/2062  EUR    73.031
Republic of Ireland    0.835   07/08/2080 EUR    70.406
Societe Du Grand Par   1.149   04/08/2069 EUR    65.831
Single Platform Inve   1.150   5/25/2066  EUR    70.979
Regie Autonome des T   0.875   8/18/2080  EUR    76.050
BNG Bank NV           10.010   6/17/2025  TRY    54.948
Muenchener Hypotheke   0.550   2/18/2046  CHF    71.360
ITK Holding zrt        2.900   6/23/2031  HUF    63.100
Credit Bank of Mosco   0.010  10/27/2023  RUB
Lloyds Bank PLC        1.836  10/25/2033  USD    67.981
Senvion Holding GmbH   3.875  10/25/2022  EUR     0.286
Autonomous Community   1.744   07/01/2061 EUR    70.504
EFG International Fi   8.000   06/10/2022 CHF    63.250
WEB Windenergie AG     4.500              EUR     0.010
Caixa Economica Mont   5.000              EUR    50.010
Specialfastigheter S   1.120   2/19/2044  SEK    68.395
Grand Delta Habitat    1.285   11/06/2040 EUR    73.270
Minicentrales Dos SA   0.010   06/06/2047 EUR    59.125
Haya Real Estate SA    5.125  11/15/2022  EUR    69.769
Batigere Grand Est S   1.400   8/31/2050  EUR    67.280
Autonomous Community   1.138  11/22/2052  EUR    67.880
Region Wallonne Belg   1.550   4/28/2120  EUR    67.961
Chelyabinsk Pipe Pla   7.900   06/08/2027 RUB    92.660
Single Platform Inve   0.932   2/15/2041  EUR    73.575
Elli Finance UK PLC    8.750   6/15/2019  GBP    65.125
Kardan NV              6.325   2/21/2021  ILS
Air Berlin Finance B   8.500   03/06/2019 EUR     0.401
Region de Bruxelles-   0.640   7/20/2045  EUR    71.748
Slovenia Government    0.488  10/20/2050  EUR    64.683
Single Platform Inve   1.548  10/31/2050  EUR    58.911
Golden Gate AG         6.500   10/11/2014 EUR    33.000
Societe Generale SA   10.000   5/31/2034  USD    71.750
B+N Referencia Ipari   3.500   6/24/2031  HUF    70.200
Lloyds Bank PLC        0.500   7/26/2028  MXN    55.105
Single Platform Inve   0.559   2/15/2047  EUR    64.605
State of Hesse         0.227   8/20/2049  EUR    67.122
Thomas Cook Group PL   6.250   6/15/2022  EUR     0.518
BPCE SA                2.315  11/19/2035  AUD    71.296
JP Morgan Structured  12.000   01/04/2027 ZMW
Societe Generale SA    8.600   7/29/2022  USD    43.800
Credit Suisse AG/Lon   4.700  11/30/2022  USD     9.523
COFIDUR SA             0.100  12/31/2024  EUR    24.050
VTB Bank PJSC         13.000              RUB    65.050
OGX Austria GmbH       8.500   06/01/2018 USD     0.002
French Republic Gove   0.500   5/25/2072  EUR    54.457
Ville de Paris         0.650  11/25/2070  EUR    56.173
International Financ   0.500   6/29/2027  ZAR    63.921
Nostrum Oil & Gas Fi   7.000   2/16/2025  USD    27.428
Deutsche Bank AG/Lon   0.348  11/26/2034  USD    61.681
Baromfi-Coop Termelo   3.000   7/19/2031  HUF    72.500
Leonteq Securities A   8.510   5/27/2022  USD    26.580
Maxima Telecom        10.750   7/14/2026  RUB    65.020
Hell Energy Magyaror   3.000   7/28/2031  HUF    73.400
SALVATOR Vermoegensv   9.500              EUR     7.400
Russian Railways JSC  10.150   9/20/2039  RUB    60.080
Single Platform Inve   0.745   2/15/2047  EUR    68.041
UniCredit Bank AG      4.450   4/29/2022  EUR    66.000
State of Lower Austr   0.400  10/13/2050  EUR    68.249
Region de Bruxelles-   0.910   1/31/2053  EUR    72.257
International Bank o   8.250   10/09/2024 USD    60.375
Russian Railways JSC   9.130   4/29/2043  RUB    60.080
Zurcher Kantonalbank  15.200   9/21/2022  USD    30.560
Russian Railways JSC   9.730   8/18/2033  RUB    60.080
Minicentrales Dos SA   0.010   06/06/2047 EUR    66.875
Barclays Bank PLC      1.092   7/28/2031  USD    70.812
Region Wallonne Belg   0.638   6/21/2047  EUR    69.145
Russian Foreign Bond   4.500   04/04/2022 USD    23.326
Transports Publics N   0.320  10/28/2037  CHF    71.673
Ukraine Government I   9.790   5/26/2027  UAH    48.452
Cooperatieve Raboban   0.500   1/31/2033  MXN    34.614
Ukraine Government I  10.000   8/23/2023  UAH    69.318
Communaute Francaise   1.010   7/19/2051  EUR    72.337
Ukraine Government B  10.710   4/26/2028  UAH    30.492
Finland Government B   0.125   4/15/2052  EUR    67.061
Espirito Santo Finan   5.050  11/15/2025  EUR     0.290
UkrLandFarming PLC    10.875   3/26/2018  USD     1.522
UBS AG/London          6.500   8/15/2022  USD    58.700
Banque International  15.000   01/05/2023 EUR    39.160
Republic of Belarus    5.875   2/24/2026  USD    13.000
Single Platform Inve   0.740   04/01/2042 EUR    73.313
O1 Properties Financ   0.500   9/27/2028  USD     6.203
Single Platform Inve   0.833   2/15/2041  EUR    73.593
Bibby Offshore Servi   7.500   6/15/2021  GBP    11.625
Portugal Obrigacoes    1.000   04/12/2052 EUR    69.055
BNP Paribas SA         0.500  11/16/2032  MXN    31.610
getgoods.de AG         7.750   10/02/2017 EUR     0.527
Veneto Banca SpA       6.411              EUR     0.345
DZ Bank AG Deutsche    4.000   6/24/2022  EUR    73.560
VTB Bank PJSC          0.010   05/01/2025 RUB    62.510
OR PJSC               11.500   7/28/2024  RUB    18.380
BNP Paribas Issuance   5.000   11/05/2024 EUR    38.680
Region Wallonne Belg   1.222   6/24/2080  EUR    62.757
Republic of Ireland    0.740   9/22/2078  EUR    67.472
Krakowski Bank Spold   8.020   9/20/2023  PLN    70.000
Intelsat Jackson Hol   9.750   7/15/2025  USD    44.512
State of Saxony-Anha   0.475   9/30/2050  EUR    72.604
National Grid Electr   1.690   9/16/2041  GBP    72.604
BNP Paribas SA         0.500   9/29/2029  AUD    72.006
Region de Bruxelles-   0.808   1/31/2050  EUR    70.848
Rio Forte Investment   4.750   11/10/2015 EUR     4.423
Lehman Brothers Trea   1.214   10/05/2035 EUR     0.100
Wirtschafts- und Inf   0.500   8/28/2046  EUR    72.908
Ville de Paris         0.758   8/20/2060  EUR    64.997
BNP Paribas SA        20.200   5/31/2022  USD    37.750
Luzerner Kantonalban  23.000   06/07/2022 CHF    21.370
DZ Bank AG Deutsche    8.900   6/24/2022  EUR    71.000
Deutsche Bank AG/Lon  13.750   6/20/2026  TRY    46.958
Ukraine Government I   9.990   5/22/2024  UAH    55.440
Specialfastigheter S   1.180   12/02/2044 SEK    69.769
Republic of Austria    0.700   4/20/2071  EUR    66.342
Astana Finance BV      7.875   06/08/2010 EUR    16.000
Republic of Belarus    6.200   2/28/2030  USD    13.000
Russian Railways JSC   6.850   07/05/2027 RUB    67.800
Gazprombank JSC        5.650   6/27/2024  RUB    76.150
Credit Suisse AG/Lon   5.800   7/26/2023  USD     9.570
Wingholding Zrt        3.000   9/22/2031  HUF    63.400
Credit Suisse AG/Lon   8.450   06/07/2023 USD     9.770
Hell Energy Magyaror   2.700  12/18/2029  HUF    65.900
DekaBank Deutsche Gi   7.050   4/28/2023  EUR    52.150
Russian Post FGUP      2.750   12/06/2023 RUB    60.090
Decipher Production   12.500   9/27/2019  USD     1.500
Ukraine Government B   3.900   10/05/2023 USD    41.225
Sequa Petroleum NV     5.000   4/29/2020  USD    30.250
Ministeries Van de V   0.634  11/19/2060  EUR    60.641
Grand Delta Habitat    1.500   09/01/2049 EUR    71.526
VTB Bank PJSC         11.250   05/06/2037 RUB    58.000
SkyGreen Buildings K   3.000  12/29/2030  HUF    67.300
VTB Bank PJSC         10.000              RUB    50.030
Tonon Luxembourg SA    9.250   1/24/2020  USD     0.500
Republic of Austria    0.850   6/30/2120  EUR    55.709
Peine GmbH             2.000   07/05/2023 EUR    44.500
Region de Bruxelles-   0.562  12/23/2065  EUR    53.623
Alpine Holding GmbH    5.250   06/10/2016 EUR     3.084
State of Lower Austr   0.550  11/13/2080  EUR    50.547
Luminis SA             1.800   09/02/2059 EUR    54.195
National Treasury Ma   1.190   10/07/2101 EUR    71.324
Agrokor dd             9.125   02/01/2020 EUR    15.000
Portugal Telecom Int   5.242   11/06/2017 EUR     0.694
Russian Foreign Bond   4.750   5/27/2026  USD    20.313
Communaute Francaise   1.000   10/08/2069 EUR    60.344
Tonon Luxembourg SA   12.500   5/14/2024  USD     0.399
UBS AG/London          0.120   5/25/2040  MXN    14.308
Corner Banca SA        6.600   08/02/2022 CHF    24.430
AKB Peresvet ZAO       0.510   2/14/2032  RUB    13.000
Veragold Mining Co G   5.000  12/31/2022  EUR    56.000
Retail Bel Finance L  10.350   03/05/2026 RUB    77.550
TBI Bank EAD           5.250   7/30/2031  EUR    56.225
Agrokor dd             9.875   05/01/2019 EUR    15.000
Ahtium PLC             9.750   04/04/2017 EUR     0.726
Ministeries Van de V   1.095   06/03/2055 EUR    72.593
Deutsche Agrar Holdi   7.250   9/28/2018  EUR     0.726
Region Wallonne Belg   1.135   10/10/2069 EUR    64.896
Communaute Francaise   0.392   1/22/2041  EUR    70.874
A-TEC Industries AG    2.750   05/10/2014 EUR     0.100
Depfa Funding III LP   0.235              EUR    61.051
Region de Bruxelles-   1.020   4/30/2060  EUR    69.022
Ukreximbank Via Biz    7.623   02/09/2023 USD    31.731
Societe Generale SA   18.000   05/02/2024 USD    36.850
Landesbank Baden-Wue   3.300  11/25/2022  EUR    67.870
DZ Bank AG Deutsche   12.200   9/23/2022  EUR    74.250
DZ Bank AG Deutsche    5.800   9/23/2022  EUR    75.510
DeltaCredit Bank JSC   1.000   5/18/2026  RUB    55.860
Pongs & Zahn AG        8.500   11/01/2014 EUR     0.130
Ukraine Government I   9.990   5/22/2024  UAH    55.440
Ukraine Government B  10.570   05/10/2027 UAH    33.412
Region Wallonne Belg   1.165   6/29/2059  EUR    70.131
Specialfastigheter S   1.280   9/20/2049  SEK    66.978
Communaute Francaise   1.581   1/23/2120  EUR    65.334
Mox Telecom AG         7.250   11/02/2017 EUR     2.270
OR PJSC               11.000  12/29/2024  RUB    15.610
SFO VTB Investment P   0.010   03/10/2023 RUB    79.000
Retail Bel Finance L   9.450   5/28/2025  RUB    81.500
Skandinaviska Enskil   9.500   7/17/2023  SEK    68.430
Sberbank of Russia P   0.010   6/22/2028  RUB    54.900
Trans-Sped Logisztik   2.500   3/16/2030  HUF
Credit Bank of Mosco   0.010   9/18/2023  RUB
Russian Railways JSC   9.390   2/28/2040  RUB    60.080
JP Morgan Structured  11.000  12/30/2026  ZMW    67.712
Dr Wiesent Sozial gG   7.000              EUR     0.011
Ukraine Government I   7.750   09/01/2026 USD    34.497
Ukraine Government B   8.120   11/10/2035 UAH    18.336
Single Platform Inve   0.924   2/18/2049  EUR    66.881
Wirtschafts- und Inf   0.200  12/14/2045  EUR    68.437
Ukraine Government B  12.940   2/14/2024  UAH    62.921
KPNQwest NV           10.000   3/15/2012  EUR     0.453
Hungary Government I   1.500  11/17/2050  EUR    64.948
Harp Issuer PLC        1.400   2/14/2032  USD    72.366
Officine Maccaferri-   5.750   06/01/2021 EUR    16.959
LSF9 Balta Issuer SA   3.000  12/31/2030  EUR    69.935
Russian Railways JSC   9.130   5/29/2035  RUB    79.000
Societe Generale SA   17.000   1/17/2030  USD    63.700
Erste Group Bank AG    4.500  10/15/2022  EUR    58.900
Leonteq Securities A   7.500   6/28/2022  CHF    67.640
Erste Group Bank AG    4.100   4/30/2022  EUR    34.750
UBS AG/London          9.750   3/17/2023  CHF    46.050
United Engine Corp J  11.500   6/26/2024  RUB    61.070
SAir Group             4.250   02/02/2007 CHF    12.625
Republic of Belarus    6.378   2/24/2031  USD    13.333
Russian Foreign Bond   5.100   3/28/2035  USD    14.167
KPNQwest NV            8.875   02/01/2008 EUR     0.453
Ukraine Government B  11.780   5/27/2026  UAH    40.269
CDC Habitat SEM        0.853   2/15/2041  EUR    71.064
Heta Asset Resolutio   7.500  12/31/2023  ATS     4.870
OPUS TIGAZ Gazhaloza   2.800   3/24/2031  HUF    73.200
Societe Generale SA   15.000   05/02/2024 USD    31.950
Bank Vontobel AG      20.504   05/12/2022 CHF    55.000
VTB Bank PJSC         10.000              RUB    62.000
RENE LEZARD Mode Gmb   7.250  11/25/2017  EUR     0.111
DekaBank Deutsche Gi   3.970   02/09/2023 EUR    72.750
Credit Suisse AG/Lon   4.450   6/28/2023  USD     9.210
DZ Bank AG Deutsche   12.640   5/27/2022  EUR    59.350
Credit Suisse AG/Lon   4.710   8/24/2022  USD     9.820
Landesbank Baden-Wue   3.900   6/24/2022  EUR    65.190
VTB Bank PJSC          8.400   5/21/2030  RUB    65.000
Russian Railways JSC   9.390   2/28/2040  RUB    60.080
VTB Bank PJSC          0.010  11/18/2025  RUB    55.050
Sberbank of Russia P   0.010  11/30/2028  RUB    55.700
Leonteq Securities A  22.220   9/16/2022  CHF    41.620
Kalita OOO            13.000   8/18/2024  RUB     8.300
Russian Railways JSC   9.130  11/29/2028  RUB    60.080
SAir Group             0.125   07/07/2005 CHF    12.625
Ukraine Government B  11.290   11/10/2025 UAH    42.945
Barclays Bank PLC      0.475   2/28/2034  USD    67.579
Ville de Paris         0.921   5/26/2053  EUR    73.312
Republic of Poland G   1.250  10/25/2030  PLN    68.085
Cooperatieve Raboban   0.500  11/30/2027  MXN    58.121
Vontobel Financial P   7.500  12/23/2022  USD    60.500
Russian Railways JSC   9.130   06/08/2028 RUB    60.080
Sonnedix Energy Tau    2.200  12/31/2038  EUR    75.000
DVM Construction Fov   3.000   7/29/2030  HUF    66.500
UBS AG/London          8.250  11/21/2022  CHF    57.900
Bank Vontobel AG      11.000   02/06/2023 CHF    49.100
Societe Generale Eff   4.000  11/22/2022  USD    56.630
BF Garant-Invest OOO  10.000  12/25/2023  RUB    72.210
VTB Bank PJSC          0.010   10/06/2023 RUB    65.010
RUSAL Bratsk OJSC      0.010   04/07/2026 RUB    65.510
WEB Windenergie AG     6.250              EUR     0.010
Norske Skog Holding    8.000   2/24/2021  EUR     0.006
Barclays Bank PLC      1.072  12/30/2030  USD    68.125
Veneto Banca SpA       6.950   2/25/2025  EUR     0.571
Rena GmbH              7.000  12/15/2015  EUR     2.096
Republic of Ireland    0.810   07/10/2079 EUR    69.787
ECM Real Estate Inve   5.000   10/09/2011 EUR    15.375
City of Kyiv Via PBR   7.500  12/15/2022  USD    35.000
Banca Popolare di Vi   9.500   10/02/2025 EUR     0.049
Vasakronan AB          2.400   6/20/2044  SEK    72.293
Region de Bruxelles-   0.731   8/25/2060  EUR    61.161
A-TEC Industries AG    5.750   11/02/2010 EUR     0.100
Ukraine Government B  12.300   07/03/2024 UAH    54.171
New World Resources    8.000   04/07/2020 EUR     0.001
Cie Generale de Navi   0.350  12/29/2056  CHF    63.969
Kalita OOO            13.000   9/21/2025  RUB     8.800
Naftatrans Plyus OOO  12.000   2/20/2026  RUB    76.800
State of Saxony-Anha   1.258   07/03/2028 EUR    60.000
Societe Generale SA   21.660   2/24/2028  USD    71.750
Eltex Kft              3.500  12/21/2028  HUF    72.250
Leonteq Securities A   6.770   5/27/2022  USD    52.360
UBS AG/London          6.500   10/02/2024 USD    71.500
Takarek Mortgage Ban   3.000   8/21/2030  HUF    71.300
Credit Suisse AG/Lon  18.500  12/14/2026  USD    68.240
Sberbank of Russia P   0.010  11/13/2026  TRY    67.100
Nordea Bank Abp        5.813   7/20/2024  SEK    68.100
Federal Grid Co Unif   9.390   3/23/2050  RUB    62.480
Federal Grid Co Unif   9.390   3/23/2050  RUB    61.880
Leonteq Securities A  14.000   02/03/2023 CHF    58.330
MET Hungary Solar Pa   3.800   12/02/2031 HUF    72.900
Societe Generale SA    2.050   12/02/2035 USD    68.315
Ukraine Government I   7.750   09/01/2023 USD    41.855
Societe Generale SA    2.200  12/17/2040  USD    71.490
Region de Bruxelles-   0.274   12/11/2040 EUR    72.374
BPCE SA                2.250   3/13/2040  AUD    66.373
Turkey Government Bo  11.700  11/13/2030  TRY    64.450
French Republic Gove   0.750   5/25/2053  EUR    73.980
Ukraine Government B  11.800   3/25/2026  UAH    41.368
Lehman Brothers Trea   2.000   3/16/2035  EUR     0.100
Bulgaria Steel Finan  12.000   05/04/2013 EUR     0.216
Lehman Brothers Trea   2.875   3/14/2013  CHF     0.100
Norske Skogindustrie   7.125  10/15/2033  USD     0.010
New World Resources    4.000   10/07/2020 EUR     0.376
Mriya Agro Holding P   9.450   4/19/2018  USD     4.667
Deutsche Bank AG/Lon   0.500  10/18/2038  MXN    15.142
Nordea Bank Abp        4.100   7/20/2023  SEK    50.880
Takarek Mortgage Ban   2.600  10/22/2028  HUF    74.500
Federal Grid Co Unif  10.150   09/07/2048 RUB    60.080
Russian Railways JSC  10.150   9/19/2033  RUB    71.000
MS Deutschland Betei   6.875  12/18/2017  EUR     0.700
SG Issuer SA           6.130   1/20/2024  SEK    73.440
Maxima Telecom         9.750   5/21/2024  RUB    61.850
Pannon Work Szemelyz   3.000  10/30/2030  HUF    67.500
DZ Bank AG Deutsche    4.050   5/27/2022  EUR    79.430
VTB Bank PJSC          0.010   6/17/2026  RUB
SAir Group             5.125   03/01/2003 CHF    12.750
Vontobel Financial P   6.500   6/24/2022  EUR    71.830
UniCredit Bank AG      4.500  10/26/2022  EUR    74.220
Raiffeisen Schweiz G   9.500   05/02/2023 CHF    76.590
Credit Suisse AG/Lon  13.700   9/25/2023  USD    48.290
Muehl Product & Serv   6.750   03/10/2005 DEM     0.104
Commerzbank AG         0.060  11/19/2029  EUR    75.330
Ukraine Government B   8.750   2/16/2033  UAH    20.402
Norske Skogindustrie   7.125  10/15/2033  USD     0.010
Banco Espirito Santo  10.000   12/06/2021 EUR     0.523
Hungary Government B   4.000   4/28/2051  HUF    64.963
UBS AG/London          5.520   4/29/2041  USD    57.993
Region de Bruxelles-   1.225   6/21/2070  EUR    70.351
Credito Padano Banca   3.100              EUR    34.008
Kreditanstalt fuer W   0.693   02/08/2050 EUR    70.954
Credit Agricole SA     3.270   10/05/2041 AUD    69.155
Societe Generale SA    2.050   2/22/2031  AUD    75.043
Region de Bruxelles-   0.845   9/30/2059  EUR    63.552
Waste Italia SpA      10.500  11/15/2019  EUR     0.550
Aargau Verkehr AG      0.270  11/29/2049  CHF    73.534
Societe Generale SA    5.000   01/10/2023 USD    42.470
Zurcher Kantonalbank  21.250   10/04/2022 CHF    71.100
DekaBank Deutsche Gi  11.200  12/23/2022  EUR    48.370
Russian Post FGUP      6.600  11/13/2030  RUB    67.260
VTB Bank PJSC          2.000   11/10/2023 RUB    62.010
Societe Generale SA   10.000   6/28/2034  USD    70.250
UniCredit Bank AG      4.500   10/05/2022 EUR    59.060
DekaBank Deutsche Gi   5.970   02/09/2023 EUR    67.180
Leonteq Securities A  24.020   6/29/2022  CHF    30.130
Zurcher Kantonalbank   3.000   09/06/2022 EUR    73.810
BNP Paribas Issuance   6.310   07/05/2023 SEK    73.050
UniCredit Bank AG      6.600   7/20/2028  EUR    38.290
DekaBank Deutsche Gi   5.600   4/25/2022  EUR    61.620
Zurcher Kantonalbank   6.000   4/14/2023  CHF    63.390
Societe Generale SA   24.000  11/20/2025  USD    68.150
Opus Global Nyrt       2.800  10/29/2029  HUF    74.500
UniCredit Bank AG      4.750   12/04/2023 EUR    71.290
SFO VTB Investment P   0.010  11/13/2023  RUB    65.000
Northland Resources   15.000   7/15/2019  USD     2.621
Ukraine Government B   6.000   4/23/2031  UAH    15.570
Single Platform Inve   0.815   04/01/2042 EUR    69.695
Solarwatt GmbH         7.000   11/01/2015 EUR    15.500
Ukraine Government B  12.500   3/27/2024  UAH    60.954
Societe Generale SA    2.696   6/30/2035  USD    66.219
NatWest Markets PLC    0.576   8/18/2031  USD    71.123
Agence Francaise de    0.368   01/12/2046 EUR    73.998
Region de Bruxelles-   1.040   05/03/2061 EUR    69.901
Autonomous Community   1.089  10/31/2049  EUR    70.284
Ministeries Van de V   0.400  11/20/2043  EUR    71.847
Region Wallonne Belg   1.150   09/02/2120 EUR    54.319
Single Platform Inve   0.810   04/01/2042 EUR    72.111
BPCE SA                2.250   3/13/2040  AUD    65.927
Heta Asset Resolutio   0.297  12/31/2023  EUR     4.870
Communaute Francaise   1.040   7/19/2101  EUR    65.143
Societe Nationale SN   1.400   5/18/2120  EUR    60.623
Lehman Brothers Trea  11.000  12/20/2017  AUD     0.100
DZ Bank AG Deutsche    9.410   8/26/2022  EUR    34.070
Skandinaviska Enskil   6.500   1/15/2024  SEK    74.850
SG Issuer SA           6.940   1/20/2025  SEK    66.920
Federal Grid Co Unif   9.730   4/27/2048  RUB    60.080
VTB Bank PJSC          0.010   5/19/2024  RUB    51.850
VTB Bank PJSC          0.010   04/05/2024 RUB    68.010
Skandinaviska Enskil   8.600   7/17/2023  SEK    67.490
DZ Bank AG Deutsche   18.800   9/23/2022  EUR    69.630
Leonteq Securities A  21.420   05/11/2022 CHF    23.180
Credit Suisse AG/Lon  13.250   05/04/2022 USD    41.290
Leonteq Securities A   6.300   7/17/2023  EUR    77.590
Credit Suisse AG/Lon  10.000   7/22/2022  CHF    21.220
DZ Bank AG Deutsche   11.500   6/24/2022  EUR    71.110
EFG International Fi  10.600   8/23/2023  EUR    63.630
Severo-Zapadnaya Kon  12.150   9/26/2031  RUB    57.010
Progress Etteremhalo   3.000   9/18/2030  HUF    71.300
Russian Railways JSC   5.910  10/15/2040  RUB    60.080
Norske Skog Holding    8.000   2/24/2023  USD     0.006
Espirito Santo Finan   0.606  10/27/2024  EUR     0.297
Muenchener Hypotheke   1.010   08/06/2044 EUR    71.856
Region de Bruxelles-   0.540   9/13/2044  EUR    71.309
Wirtschafts- und Inf   0.138   8/23/2044  EUR    67.837
Credit Agricole Corp   2.610   7/27/2050  USD    69.041
Pescanova SA           8.750   2/17/2019  EUR     0.319
Region de Bruxelles-   0.690   6/22/2050  EUR    68.414
Elli Investments Ltd  12.250   6/15/2020  GBP    52.250
Region Wallonne Belg   0.850   1/26/2071  EUR    56.209
Lehman Brothers Trea   8.000  10/23/2008  USD     0.100
Akademiska Hus AB      1.252   2/13/2043  SEK    70.912
Agence Francaise de    2.360   1/30/2045  AUD    74.430
Cooperatieve Raboban   0.500  12/29/2027  MXN    57.486
Single Platform Inve   0.780   2/15/2040  EUR    73.770
Credit Agricole SA     3.000   1/19/2041  AUD    63.254
Communaute Francaise   0.782   02/08/2061 EUR    59.714
Ukraine Government B   6.000   11/12/2025 UAH    33.900
Agrokor dd             8.875   02/01/2020 USD    15.000
Ukraine Government B   9.500   3/19/2025  UAH    45.516
Ukraine Government B  11.970   4/16/2025  UAH    48.706
Single Platform Inve   1.075   6/26/2052  EUR    73.029
Credit Suisse AG/Lon   8.500   09/09/2022 EUR    67.540
Skandinaviska Enskil   8.300   7/17/2023  SEK    67.170
Credit Suisse AG/Lon  10.000  11/30/2022  CHF    34.400
VTB Bank PJSC          0.010   9/14/2024  RUB    55.440
Landesbank Baden-Wue   4.050   3/24/2023  EUR    37.300
DekaBank Deutsche Gi   2.600   08/12/2022 EUR    74.420
B+N Referencia Ipari   2.900  12/20/2029  HUF    68.900
Russian Railways JSC   9.130   5/20/2044  RUB    60.080
Credit Bank of Mosco   0.010  12/19/2022  RUB    62.000
Credit Bank of Mosco   4.000   7/15/2022  RUB    61.000
DZ Bank AG Deutsche    5.000   6/24/2022  EUR    72.880
Bank Julius Baer & C  22.500   05/03/2022 CHF    47.200
Credit Suisse AG/Lon   4.600   11/09/2022 USD
Citigroup Global Mar  12.000   2/13/2024  SEK    79.060
Societe Generale SA   18.000   5/31/2024  USD    32.323
Credit Suisse AG/Lon   4.460   7/26/2023  USD     9.430
Banque International   7.500   7/28/2022  USD    53.980
OR PJSC               13.500  10/22/2025  RUB    22.100
Credit Suisse AG/Lon   8.250   6/17/2022  CHF    53.770
Barclays Bank PLC      4.000   11/08/2023 USD     9.294
AutoWallis Nyrt        3.000   7/27/2031  HUF    64.700
Federal Passenger Co   6.900   11/05/2029 RUB    76.510
Societe Generale SA   18.000   11/02/2023 USD    41.130
Alteo Nyrt             2.450   10/08/2031 HUF    60.900
Main Road JSC          6.900  10/30/2029  RUB    61.020
UBS Group AG           2.300   12/03/2035 AUD    73.672
Cie de Financement F   0.900   7/18/2058  EUR    72.227
Ukraine Government B   9.820   02/12/2031 UAH    23.934
Ukraine Government B   9.700   03/10/2032 UAH    22.937
Republic of Belarus    6.875   2/28/2023  USD    14.500
Metropole de Lyon      0.500  12/28/2049  EUR    66.510
State of Rhineland-P   0.100   10/01/2040 EUR    72.267
Metropole de Lyon      0.466   12/07/2046 EUR    69.111
HSBC Bank PLC         10.300   12/10/2024 TRY    61.798
Metropole de Lyon      0.540   12/07/2050 EUR    66.045
BLT Finance BV        12.000   02/10/2015 USD    10.500
SAir Group             6.250  10/27/2002  CHF    12.625
Kingdom of Belgium G   0.558   9/24/2077  EUR    53.703
Santander Internatio   1.700   12/12/2049 EUR    44.696
Region de Bruxelles-   1.036   01/07/2060 EUR    69.144
Region de Bruxelles-   0.944   6/22/2057  EUR    68.269
Credit Agricole Corp  10.800   3/24/2026  TRY    51.774
Republic of Belarus    7.625   6/29/2027  USD    11.856
Region de Bruxelles-   0.556  12/23/2064  EUR    54.097
Kuntarahoitus Oyj      0.815   2/24/2061  EUR    73.859
Thomas Cook Finance    3.875   7/15/2023  EUR     0.548
BrokerCreditService    1.484   12/06/2031 USD    72.730
Lehman Brothers Trea   5.100   05/08/2017 HKD     0.100
Hungary Government B   3.000   4/25/2041  HUF    61.056
Single Platform Inve   1.013  12/20/2050  EUR    72.040
Republic of Ireland    1.200   4/15/2120  EUR    61.479
CDC Habitat SEM        0.814   2/15/2040  EUR    70.722
Kuntarahoitus Oyj      1.005   11/04/2060 EUR    73.247
Lehman Brothers Trea   4.300   06/04/2012 USD     0.100
DZ Bank AG Deutsche   14.800   6/24/2022  EUR    74.760
Leonteq Securities A  16.000   5/25/2022  CHF    18.580
SG Issuer SA           2.270   02/04/2032 EUR    71.260
Raiffeisen Schweiz G  10.000  12/31/2024  CHF    64.570
Federal Grid Co Unif   9.730   4/27/2048  RUB    60.080
Credit Suisse AG/Lon  10.250   06/02/2022 USD    31.460
VTB Bank PJSC          0.010   5/19/2024  RUB
RosDorBank PJSC        9.500   12/12/2024 RUB    60.000
EFG International Fi   6.200   08/05/2022 EUR    25.930
Sberbank of Russia P   0.016   3/15/2032  RUB    72.900
STAVMAT Epitoanyag K   3.000   7/20/2031  HUF    72.900
Appeninn Holding       3.500  11/22/2029  HUF    66.500
Erste Group Bank AG    6.250   3/29/2023  EUR    67.050
Leonteq Securities A   8.000   05/02/2023 CHF    17.530
Credit Suisse AG/Lon   9.500  10/18/2022  CHF    31.770
VTB Bank PJSC          0.010   1/27/2026  RUB    62.510
DZ Bank AG Deutsche   22.700   6/24/2022  EUR    65.420
UBS AG/London         16.250   05/03/2023 USD    52.550
VTB Bank PJSC          0.010   08/12/2026 RUB    59.000
UBS AG/London          8.250  11/19/2026  EUR    67.970
DZ Bank AG Deutsche   15.600  12/23/2022  EUR    71.610
Severo-Zapadnaya Kon  12.150   9/26/2031  RUB    79.000
UBS AG/London         16.250   07/07/2022 CHF    69.500
WEB Windenergie AG     5.500   04/08/2023 EUR   100.500
Bank Otkritie Financ   0.010   09/10/2023 RUB    60.000
WEB Windenergie AG     6.500              EUR     0.010
HPI AG                 3.500              EUR     3.011
Ukraine Government B   9.700   12/08/2027 UAH    29.532
Metropole de Lyon      0.376  12/22/2044  EUR    69.624
Bulgaria Government    1.375   9/23/2050  EUR    70.809
SAG Solarstrom AG      6.250  12/14/2015  EUR    31.000
Barclays Bank PLC      0.360   8/15/2033  USD    66.382
Republic of Ireland    1.210  10/27/2111  EUR    70.381
SAG Solarstrom AG      7.500   07/10/2017 EUR    31.000
Veneto Banca SpA       6.944   5/15/2025  EUR     0.571
BNP Paribas SA         2.840   8/26/2039  AUD    70.677
Single Platform Inve   0.803   3/20/2041  EUR    72.196
Single Platform Inve   0.532   2/15/2044  EUR    67.148
Russian Foreign Bond   4.250   6/23/2027  USD    19.967
DZ Bank AG Deutsche    0.350   11/10/2042 EUR    73.737
LBI ehf                7.431              USD     0.001
Heta Asset Resolutio   5.030  12/31/2023  EUR     4.870
Credito Padano Banca   3.100              EUR    33.799
Nederlandse Watersch   0.190   11/02/2050 EUR    68.467
Bibby Offshore Servi   7.500   6/15/2021  GBP    11.625
SAir Group             2.125   11/04/2004 CHF    12.625
LBI ehf                6.100   8/25/2011  USD    10.709
State of Lower Austr   0.585   10/11/2049 EUR    73.122
Single Platform Inve   0.780   04/01/2042 EUR    71.641
BPCE SA                2.320   03/04/2036 USD    70.612
Leonteq Securities A  10.000   6/28/2022  CHF    53.790
Credit Suisse AG/Lon  15.000   6/29/2022  USD    19.040
UBS AG/London          8.250   7/21/2022  USD    69.650
EFG International Fi  10.000   9/20/2023  USD    62.620
UniCredit Bank AG      1.500   1/31/2040  EUR    71.810
UBS AG/London         11.500  11/14/2022  EUR    71.850
Corner Banca SA       15.000   5/25/2022  CHF    40.400
Gold-Zack AG           7.000  12/14/2005  EUR     1.524
EFG International Fi  11.120  12/27/2024  EUR    23.400
SFO VTB RKS-1          8.000   12/01/2030 RUB    73.650
BNP Paribas Emission  10.000  12/22/2022  EUR    63.970
Danske Bank A/S        7.470   07/09/2023 SEK    72.860
PRE Motor Technologi  11.750   9/29/2026  RUB    69.850
Otthon Centrum Holdi   3.000   4/19/2031  HUF    73.900
Banque Cantonale Vau  10.600   05/05/2022 CHF    62.420
Dyadya Doner OOO      13.500   4/25/2023  RUB    17.880
Societe Generale SA    4.500  12/30/2024  USD    73.460
Societe Generale Eff  20.000   9/23/2022  EUR    53.410
Zurcher Kantonalbank  11.600   11/10/2022 EUR    57.860
Raiffeisen Schweiz G  16.000   7/19/2022  EUR    64.800
OR PJSC               12.600   9/28/2025  RUB    16.780
Sberbank of Russia P   0.010   10/09/2026 RUB    66.200
Credit Suisse AG/Lon  15.000   11/02/2022 USD    45.640
Aerofuels JSC          9.900   9/26/2024  RUB    71.000
Bank Otkritie Financ   0.010   7/16/2025  RUB    60.130
Mifa Mitteldeutsche    7.500   08/12/2018 EUR     2.410
VTB Bank PJSC          0.010   8/29/2023  RUB    69.790
Russian Railways JSC   8.400   10/11/2038 RUB    60.080
Ukraine Government B   9.000   7/17/2030  UAH    22.745
Ukraine Government B   6.000   12/11/2030 UAH    15.879
Ukraine Government B   9.990   12/10/2031 UAH    23.673
Wirtschafts- und Inf   0.200   12/02/2043 EUR    70.430
Single Platform Inve   0.950   7/25/2047  EUR    73.622
Ukraine Government B   8.420   05/10/2034 UAH    19.280
Single Platform Inve   0.457   2/15/2046  EUR    64.244
Single Platform Inve   0.776   1/23/2051  EUR    66.952
BNP Paribas SA         3.080   8/28/2039  AUD    73.475
Oberbank AG            0.230   10/07/2041 EUR    72.392
Region Wallonne Belg   0.828   8/28/2048  EUR    70.051
Vasakronan AB          1.655   09/05/2039 SEK    72.962
Heta Asset Resolutio   4.875  12/31/2023  EUR     4.870
Ukraine Government B   6.000  11/26/2025  UAH    33.566
Lehman Brothers Trea   4.820  12/18/2036  EUR     0.100
Lehman Brothers Trea  10.000  10/23/2008  USD     0.100
Wirtschafts- und Inf   0.192   1/28/2042  EUR    72.047
Single Platform Inve   0.767   2/15/2041  EUR    72.761
Norske Skogindustrie   2.000  12/30/2115  EUR     0.113
Leonteq Securities A  14.000   07/06/2022 CHF    59.340
EFG International Fi   5.500  12/30/2025  EUR    75.240
UBS AG/London          4.650  10/31/2023  USD     9.380
Sberbank of Russia P   0.010   11/05/2024 RUB    74.000
Societe Generale SA   16.000   08/01/2024 USD
UBS AG/London         11.750   7/21/2022  CHF    54.600
LLMC AirLoans         13.250   05/06/2025 RUB    71.920
Banque International  10.000  11/23/2022  CHF    73.950
SG Issuer SA           4.000   6/22/2026  EUR    69.600
Vontobel Financial P  15.500  12/23/2022  EUR    79.220
Zurcher Kantonalbank  12.300   06/07/2022 CHF    68.490
Leonteq Securities A  18.000   05/12/2022 CHF    56.420
Societe Generale SA   10.800   3/31/2026  USD    64.850
Leonteq Securities A   7.000   3/29/2023  CHF    74.300
Credit Suisse AG/Lon   8.000   6/27/2022  CHF    56.370
Bank Julius Baer & C  29.500   6/27/2022  CHF    37.700
Russian Railways JSC   7.550   4/15/2027  RUB    70.500
Skandinaviska Enskil   6.500   7/15/2024  SEK    73.860
Corner Banca SA        8.000   06/08/2022 EUR    68.430
Societe Generale SA   20.000   01/03/2024 USD    12.550
Bayerische Landesban   1.100   1/26/2024  EUR    76.550
SEZ Im Sergo Orgonik  10.750   9/14/2027  RUB    75.330
Federal Grid Co Unif   9.730  10/30/2048  RUB    66.090
UBS AG/London         10.500  10/21/2022  USD    44.000
Credit Suisse AG/Lon  11.000   6/15/2022  CHF    31.500
Danske Bank A/S       10.300   07/09/2023 SEK    11.600
Bank Julius Baer & C   8.200   9/19/2022  USD    44.500
MFC Webbanker LLC     12.750   01/02/2025 RUB    71.500
Credit Suisse AG/Lon  10.000   6/16/2022  USD    56.510
Zurcher Kantonalbank  19.250   6/15/2022  CHF    46.910
Leonteq Securities A  21.840   06/09/2022 CHF    51.160
Societe Generale SA    6.000   06/06/2022 USD     0.190
Bank Julius Baer & C  21.150   08/09/2022 CHF    37.900
CFP Microfinance Co   13.000   7/18/2024  RUB    74.860
UniCredit Bank AG      4.200   9/21/2022  EUR    49.060
UBS AG/London          5.000   4/14/2023  CHF    65.650
Zurcher Kantonalbank   7.000   08/10/2022 USD    41.290
UBS AG/London         19.750   05/05/2022 USD    42.750
Bank Julius Baer & C   8.400   05/06/2022 USD    69.950
Russian Railways JSC   8.650   02/04/2032 RUB    74.830
EFG International Fi   9.100   9/20/2023  EUR    64.090
OR PJSC               16.000  11/22/2025  RUB    49.100
Leonteq Securities A  24.190   8/30/2022  CHF    28.150
VTB Bank PJSC          0.010   06/09/2023 RUB    79.010
Russian Railways JSC   5.910   5/30/2040  RUB    60.080
Bank Vontobel AG      10.000   2/28/2023  CHF    74.000
Credit Suisse AG/Lon  11.500   07/04/2022 CHF    28.220
Credit Suisse AG/Lon  12.500   8/18/2022  CHF    30.700
UBS AG/London          9.750   04/06/2023 USD    41.900
Credit Suisse AG/Lon  10.350   2/27/2023  CHF    37.870
Leonteq Securities A  12.000   05/02/2023 USD    60.640
Credit Suisse AG/Lon  11.250   8/15/2022  EUR    56.970
Bank Vontobel AG      22.300   08/02/2022 CHF    61.700
Zurcher Kantonalbank  17.000   7/27/2022  CHF    51.940
VTB Bank PJSC          0.010   02/03/2026 RUB    63.000
Credit Suisse AG/Lon  19.250   12/06/2022 USD    44.830
BNP Paribas Emission  20.000   6/23/2022  EUR    70.070
Sberbank of Russia P   0.010   2/14/2025  RUB    55.000
DZ Bank AG Deutsche   10.000   6/24/2022  EUR    71.230
VTB Bank PJSC          0.010   2/24/2026  RUB    58.010
Sberbank of Russia P   0.010  11/23/2026  RUB    54.400
Leonteq Securities A  12.000   01/11/2023 CHF    44.880
DZ Bank AG Deutsche   18.800  12/23/2022  EUR    73.890
Sberbank of Russia P   0.010   1/15/2027  RUB    75.700
Sberbank of Russia P   0.010   10/05/2028 RUB    54.800
Bayerische Landesban   1.350  12/23/2022  EUR    63.280
Leonteq Securities A  16.000   6/21/2022  USD    26.590
Kalita OOO            15.000   09/12/2023 RUB    10.950
Bank Julius Baer & C   7.000   6/22/2022  CHF    60.050
Societe Generale SA   10.000  11/30/2022  USD    67.400
Pongs & Zahn AG        8.500              EUR     0.002
SG Issuer SA           0.850  10/16/2024  EUR    14.480
Zalaco Sutoipari zrt   3.500   7/24/2030  HUF    70.480
Vontobel Financial P  10.000   6/24/2022  EUR    72.520
Leonteq Securities A  20.400   1/18/2023  CHF    65.120
AKB Peresvet ZAO       0.510   08/04/2034 RUB    13.370
Federal Grid Co Unif   9.130  10/30/2048  RUB    60.080
Vasakronan AB          1.000   6/15/2041  EUR    72.812
Region Bourgogne-Fra   0.397   12/03/2045 EUR    68.974
Region Bourgogne-Fra   0.300   12/03/2040 EUR    72.350
Ukraine Government B   9.760   7/23/2031  UAH    23.430
Intelsat SA            4.500   6/15/2025  USD     9.500
Ukraine Government B   9.700   10/06/2027 UAH    30.700
Phosphorus Holdco PL  10.000   04/01/2019 GBP     1.500
Metropole de Lyon      0.500  12/28/2048  EUR    67.485
BNP Paribas SA         3.170   01/07/2041 AUD    72.972
HSBC Bank PLC         10.300  12/20/2024  TRY    61.586
Ukraine Government B  13.300   6/28/2023  UAH    73.001
Department of Loiret   0.550  12/18/2045  EUR    71.412
Ukraine Government I   7.750   09/01/2024 USD    34.765
Ukraine Government B   8.310   11/10/2034 UAH    18.923
Wirtschafts- und Inf   0.170   12/09/2041 EUR    71.946
Ukraine Government B  12.500   2/21/2024  UAH    62.161
Ukraine Government B   3.900   3/30/2023  USD    58.712
Irish Bank Resolutio   4.000   4/23/2018  EUR    33.250
Single Platform Inve   1.117   5/25/2066  EUR    70.277
Ukraine Government B   6.500   08/02/2023 UAH    65.301
Single Platform Inve   0.678   2/15/2041  EUR    70.673
Department of Loiret   0.500  10/30/2042  EUR    73.336
Societe Generale SA    1.323   1/31/2034  USD    66.910
Credit Agricole Corp  10.800   3/24/2026  TRY    54.681
Cie DU Chemin de Fer   0.280  11/29/2052  CHF    54.818
Pescanova SA           6.750   03/05/2015 EUR     0.319
Single Platform Inve   0.605   9/20/2042  EUR    70.075
Single Platform Inve   0.462   2/15/2040  EUR    70.680
Kingdom of Belgium G   0.675   07/07/2080 EUR    56.786
Hellas Telecommunica   8.500  10/15/2013  EUR     0.834
Ukraine Government B  11.870   01/06/2027 UAH    37.274
Grupo Isolux Corsan    6.000  12/30/2021  USD     0.263
Societe Generale SA    3.110  10/28/2041  AUD    72.773
Ministeries Van de V   0.600  11/19/2055  EUR    61.774
Single Platform Inve   0.873   5/25/2052  EUR    67.271
Department of Girond   0.418   11/12/2041 EUR    72.920
Turkey Government Bo  12.400   03/08/2028 TRY    73.000
Communaute Francaise   0.886   6/22/2057  EUR    64.914
Lehman Brothers Trea   5.000  10/24/2008  CHF     0.100
Batigere Grand Est S   1.600  11/14/2044  EUR    73.083
Rio Forte Investment   3.900   07/10/2014 USD     4.423
Region de Bruxelles-   0.900   4/14/2050  EUR    72.915
Single Platform Inve   1.010   3/20/2051  EUR    73.353
Centre Hospitalier B   0.950   02/05/2041 EUR    72.330
Communaute Francaise   0.750   02/04/2061 EUR    60.179
BPCE SA                2.820  12/18/2039  AUD    72.629
Credit Agricole SA     3.450   03/04/2041 AUD    67.636
Premium Green PLC      0.508  10/25/2038  EUR    73.355
Privatbank CJSC Via   10.875   2/28/2018  USD     8.000
Turkiye Ihracat Kred  12.540   9/14/2028  TRY    48.199
Air Berlin Finance B   6.000   03/06/2019 EUR     0.372
Societe Generale SA    1.192   8/29/2034  USD    66.625
Vontobel Financial P   4.050   7/15/2022  EUR    27.120
JD Capital PLC         5.000   5/21/2028  EUR    70.000
Corner Banca SA       13.680  10/28/2022  EUR    54.000
Bank Julius Baer & C  14.580   09/09/2022 USD    23.500
EFG International Fi   9.800   06/07/2023 USD    71.880
Bank Vontobel AG       8.758   06/02/2022 CHF    36.600
Leonteq Securities A  16.600   6/17/2022  USD    26.460
Bayerische Landesban   2.350   08/05/2022 EUR    76.340
VTB Bank PJSC          2.000  11/17/2023  RUB    67.210
Credit Suisse AG/Lon  14.000   6/16/2022  USD    59.440
BNP Paribas Issuance   7.980   1/20/2025  SEK    68.150
Deutsche Bank AG/Lon   2.200   4/14/2023  EUR    73.880
VTB Bank PJSC          0.010   08/01/2023 RUB    56.010
Societe Generale SA    4.500  12/29/2022  USD     0.260
Getin Noble Bank SA   10.930   04/04/2024 PLN    73.875
EFG International Fi   7.500   7/26/2022  USD    57.180
VTB Bank PJSC          0.010   8/26/2026  RUB    58.000
VTB Bank PJSC          0.010   09/09/2026 RUB    60.010
VTB Bank PJSC          0.010   7/15/2026  RUB    58.000
SG Issuer SA           7.700   1/20/2024  SEK    75.520
VTB Bank PJSC          0.010   5/13/2025  RUB    66.880
VTB Bank PJSC          0.010  12/13/2024  RUB    72.500
DekaBank Deutsche Gi   4.630  12/16/2022  EUR    78.250
SG Issuer SA           6.020   1/20/2024  SEK    73.270
SG Issuer SA           6.500   1/20/2025  SEK    64.850
BNP Paribas Emission  20.000   6/23/2022  EUR    72.410
Sberbank of Russia P   0.010   02/03/2027 RUB    71.400
Rosselkhozbank JSC    18.600   7/15/2025  RUB   100.000
Sberbank of Russia P   0.010   1/19/2026  RUB    65.100
Sberbank of Russia P   0.010   1/19/2026  RUB    65.900
Bank Julius Baer & C  10.050   7/29/2022  USD    47.150
RUSNANO AO             6.750   3/26/2024  RUB    65.260
Forras Vagyonkezeles   3.250   10/01/2030 HUF
Raiffeisen Schweiz G  11.000   7/19/2022  CHF    71.670
Bank Vontobel AG      20.000   06/12/2023 EUR    48.500
VTB Bank PJSC          0.010   9/22/2023  RUB    64.020
OOO SPV Structural I   0.010   09/01/2023 RUB    66.740
VTB Bank PJSC          0.010   9/15/2023  RUB    65.030
TransFin-M PAO         8.500   06/04/2025 RUB    70.200
Bank Julius Baer & C  11.700   4/26/2022  CHF    26.600
Ukraine Government B   6.000   1/28/2032  UAH    14.917
Ukraine Government B   9.700   8/25/2032  UAH    22.672
Ville de Paris         0.395  12/18/2045  EUR    70.020
Ukraine Government B   9.990   8/27/2031  UAH    23.889
Ukraine Government B   6.000   10/11/2028 UAH    19.634
Ukraine Government B   8.880   05/10/2032 UAH    21.050
Ukraine Government B   9.150   05/10/2031 UAH    22.320
Ukraine Government B  10.360   11/10/2027 UAH    31.144
Ukraine Government B   8.750   11/10/2032 UAH    20.511
Ukraine Government B   9.610   10/11/2029 UAH    25.164
Cooperatieve Raboban   0.500   8/21/2028  MXN    54.569
Getin Noble Bank SA    9.930   6/28/2024  PLN    74.375
Credit Agricole Corp  10.200   08/06/2026 TRY    51.563
Bilt Paper BV         10.360              USD     1.345
HSBC Bank PLC          0.500   6/23/2027  MXN    59.851
IT Holding Finance S   9.875  11/15/2012  EUR     0.015
Region Wallonne Belg   1.300   6/16/2068  EUR    71.208
Rena GmbH              8.250   07/11/2018 EUR     2.096
Ukraine Government B  12.700  10/30/2024  UAH    54.220
Credit Agricole Corp   5.400   1/31/2028  BRL    71.705
Societe Wallonne de    0.913   7/31/2040  EUR    67.626
SAir Group             6.250   04/12/2005 CHF    12.625
Ukraine Government B   9.500   7/16/2025  UAH    42.444
Ukraine Government B  11.570   03/01/2028 UAH    32.594
Ukraine Government B  11.540   12/10/2025 UAH    42.735
BNG Bank NV            0.680   03/04/2050 EUR    71.516
Region de Bruxelles-   1.016   9/23/2057  EUR    69.829
Deutsche Bank AG/Lon   0.500   04/05/2038 MXN    22.402
DZ HYP AG              0.205   06/05/2040 EUR    70.397
Lehman Brothers Trea   4.100   06/10/2014 SGD     0.100
Single Platform Inve   0.800   04/07/2042 EUR    71.938
Virgolino de Oliveir  10.875   1/13/2020  USD    36.000
Polski Bank Spoldzie   9.430   9/14/2027  PLN    71.800
Lehman Brothers Trea   7.500  10/24/2008  USD     0.100
Landesbank Baden-Wue   0.310   12/09/2039 EUR    67.508
Region Wallonne Belg   1.240   5/28/2069  EUR    69.173
Sidetur Finance BV    10.000   4/20/2016  USD     0.770
Hellas Telecommunica   6.054   1/15/2015  USD     0.001
Single Platform Inve   0.656   2/15/2046  EUR    66.858
Single Platform Inve   1.033   2/15/2046  EUR    73.650
Wirtschafts- und Inf   0.208   1/28/2043  EUR    71.239
Russian Foreign Bond  12.750   6/24/2028  USD    24.585
Getin Noble Bank SA    7.230   7/26/2024  PLN    66.865
Region de Bruxelles-   1.053  11/14/2059  EUR    69.627
Communaute Francaise   0.500   6/27/2046  EUR    67.012
Leonteq Securities A  17.000   07/05/2022 EUR    33.220
Zurcher Kantonalbank  15.500   11/08/2022 USD    70.210
Sberbank of Russia P   0.010  11/27/2026  RUB    74.700
EFG International Fi  16.000  10/27/2022  CHF    54.970
Raiffeisen Switzerla  12.000   9/22/2022  CHF    42.250
Vita Line OOO          9.750  10/28/2025  RUB    74.040
Russian Federal Bond   5.900   03/12/2031 RUB    76.982
MetMax Europe Zrt      3.000   12/11/2030 HUF    70.700
UBS AG/London         18.000   6/16/2022  USD    43.000
Sberbank of Russia P   0.010   08/03/2028 RUB    75.000
Bank Otkritie Financ   0.010   7/28/2023  RUB    59.000
Corner Banca SA       15.400   4/26/2022  CHF    67.800
Erste Group Bank AG    6.250   8/31/2022  EUR    56.000
Sberbank of Russia P   0.010  11/24/2025  RUB    73.600
Bank Otkritie Financ   0.010   6/16/2023  RUB    55.000
Bank Julius Baer & C  10.250   10/05/2022 USD    41.900
Region Produkt OOO    11.500   09/03/2026 RUB    68.510
OR PJSC               16.000  11/26/2025  RUB    48.990
UBS AG/London         13.750   9/22/2022  CHF    73.950
Zurcher Kantonalbank  15.000   9/26/2022  EUR    77.430
VTB Bank PJSC          0.010   08/08/2023 RUB    71.110
UBS AG/London         14.250   08/10/2022 USD    70.450
VTB Bank PJSC          0.010  12/20/2024  RUB    57.030
Sberbank of Russia P   0.010   12/05/2024 RUB    70.010
DekaBank Deutsche Gi   8.100   8/26/2022  EUR    42.980
Axial Javito Kereske   2.000   9/23/2030  HUF    64.240
Bank Julius Baer & C   8.000   10/07/2022 USD    44.900
Russian Foreign Bond  12.750   6/24/2028  USD    24.754
Ukraine Government B   6.000  10/15/2031  UAH    15.184
Ukraine Government B   9.700  10/13/2032  UAH    22.684
Mriya Agro Holding P  10.950   3/30/2016  USD     4.667
Ukraine Government B   9.700   06/02/2032 UAH    22.772
Ukraine Government B   9.700   12/08/2032 UAH    22.521
KPNQwest NV            7.125   06/01/2009 EUR     0.453
United Kingdom Gilt    0.625  10/22/2050  GBP    70.071
Turkey Government Bo  10.600   02/11/2026 TRY    72.450
Caisse des Depots et   2.160   12/07/2050 AUD    69.208
Romanian Government    2.750   4/14/2041  EUR    70.256
Single Platform Inve   0.419   2/15/2040  EUR    69.319
Single Platform Inve   0.720   3/20/2051  EUR    65.872
Heta Asset Resolutio   5.730  12/31/2023  EUR     4.870
Hungary Government B   3.000  10/27/2038  HUF    63.744
Hema Bondco II BV      8.500   1/15/2023  EUR     0.113
Ukraine Government B  11.580   02/02/2028 UAH    32.802
Ukraine Government B   6.500   9/20/2023  UAH    62.673
Grupo Isolux Corsan    0.250  12/30/2018  EUR     0.100
Ukraine Government I   7.375   9/25/2032  USD    32.227
Barclays Bank PLC     13.810   4/16/2024  TRY    71.741
Natixis SA             2.930   7/29/2051  AUD    73.105
Lehman Brothers Trea   2.500   8/23/2012  GBP     0.100
Development Bank of    6.750   05/02/2024 USD     5.934
Development Bank of    6.750   05/02/2024 USD     5.934
Barclays Bank PLC     10.200   2/14/2025  TRY    58.045
Single Platform Inve   1.080   5/25/2066  EUR    68.899
Ukraine Government B   6.000   1/14/2026  UAH    32.470
Lehman Brothers Trea   4.350   08/08/2016 SGD     0.100
Laurel GmbH            7.125  11/16/2017  EUR     7.750
Region de Bruxelles-   0.720  10/17/2051  EUR    69.108
Ukraine Government I   9.750   11/01/2028 USD    34.365
Region de Bruxelles-   0.460  12/15/2051  EUR    62.275
Petromena ASA          9.750   5/24/2016  NOK     0.607
Ukraine Government I   4.375   1/27/2030  EUR    32.421
Agence Francaise de    2.360  10/17/2044  AUD    74.485
Bank Julius Baer & C  13.300   02/01/2023 CHF    65.800
Leonteq Securities A  12.000   05/03/2022 CHF    71.910
Landesbank Baden-Wue   8.100   8/26/2022  EUR    32.610
Landesbank Baden-Wue   2.800   8/26/2022  EUR    65.880
Landesbank Baden-Wue   4.400   8/26/2022  EUR    65.390
Landesbank Baden-Wue   3.100   8/26/2022  EUR    45.760
Landesbank Baden-Wue   4.650   8/26/2022  EUR    76.450
Landesbank Baden-Wue   6.450   8/26/2022  EUR    70.000
Landesbank Baden-Wue   6.000   8/26/2022  EUR    36.170
Landesbank Baden-Wue   5.550   8/26/2022  EUR    54.870
Landesbank Baden-Wue   2.650   8/26/2022  EUR    73.020
Landesbank Baden-Wue   4.050   8/26/2022  EUR    30.670
Landesbank Baden-Wue   3.150   8/26/2022  EUR    71.180
Raiffeisen Switzerla   9.000   7/29/2022  CHF    63.670
UBS AG/London         15.000   08/03/2022 CHF    57.900
Raiffeisen Switzerla  10.100   02/08/2023 CHF    69.560
BNP Paribas Emission   3.000   6/23/2022  EUR    74.400
UBS AG/London         11.250   02/03/2023 CHF    62.100
Vontobel Financial P   0.212   02/03/2023 EUR    49.900
Landesbank Baden-Wue   3.300   8/26/2022  EUR    75.290
BNP Paribas Emission  14.000   6/23/2022  EUR    68.260
VTB Bank PJSC          0.010   03/11/2026 RUB    56.070
DZ Bank AG Deutsche    6.250   6/22/2022  EUR    69.650
Bank Vontobel AG      11.003   10/03/2022 CHF    67.900
Bank Vontobel AG      10.009   10/03/2022 EUR    67.100
Bank Julius Baer & C  14.650   07/07/2022 USD    32.050
Leonteq Securities A  10.600   10/12/2022 CHF    61.160
UBS AG/London         14.250   10/07/2022 USD    36.850
UBS AG/London         13.000   04/11/2023 CHF    72.200
UBS AG/London          9.000   10/10/2022 CHF    67.200
Raiffeisen Schweiz G   7.200   10/06/2022 CHF    67.860
DekaBank Deutsche Gi   4.250   05/05/2022 EUR    58.460
Corner Banca SA       12.600   10/12/2022 EUR    66.710
EFG International Fi  12.000   10/12/2022 CHF    50.950
Vontobel Financial P   5.500   6/17/2022  USD    36.630
Bank Julius Baer & C   9.300   07/07/2022 EUR    71.600
Bank Vontobel AG      10.006   10/03/2022 EUR    67.100
Bank Vontobel AG      13.005   10/03/2022 CHF    35.200
BNP Paribas Emission   6.000   6/23/2022  EUR    68.850
BNP Paribas Emission   7.500   6/23/2022  EUR    65.620
BNP Paribas Emission  10.000   6/23/2022  EUR    63.880
BNP Paribas Emission  12.000   6/23/2022  EUR    59.440
BNP Paribas Emission  11.000   6/23/2022  EUR    66.670
BNP Paribas Emission  11.000   6/23/2022  EUR    35.750
BNP Paribas Emission  15.000   6/23/2022  EUR    32.070
BNP Paribas Emission   8.000   6/23/2022  EUR    58.830
BNP Paribas Emission   8.000   6/23/2022  EUR    55.030
BNP Paribas Emission   5.500   6/23/2022  EUR    70.010
BNP Paribas Emission   9.500   6/23/2022  EUR    75.000
BNP Paribas Emission   8.000   6/23/2022  EUR    39.760
BNP Paribas Emission   8.500   6/23/2022  EUR    38.610
BNP Paribas Emission   9.000   6/23/2022  EUR    36.990
BNP Paribas Emission  11.000   6/23/2022  EUR    68.460
BNP Paribas Emission   9.000   6/23/2022  EUR    71.880
BNP Paribas Emission   7.000   6/23/2022  EUR    76.760
BNP Paribas Emission  12.000   6/23/2022  EUR    67.430
Sberbank of Russia P   0.010   04/06/2026 RUB    66.300
DZ Bank AG Deutsche    5.250   6/22/2022  EUR    70.360
UBS AG/London          9.250   04/08/2026 EUR    74.160
DZ Bank AG Deutsche    5.250   9/21/2022  EUR    74.990
DZ Bank AG Deutsche    6.500   6/22/2022  EUR    69.780
Zurcher Kantonalbank   8.000   7/14/2022  CHF    64.180
BNP Paribas Emission   5.500   6/23/2022  EUR    66.780
BNP Paribas Emission  10.000   6/23/2022  EUR    75.770
BNP Paribas Emission  11.000   6/23/2022  EUR    73.890
BNP Paribas Emission  13.000   6/23/2022  EUR    68.680
BNP Paribas Emission   6.000   6/23/2022  EUR    64.780
BNP Paribas Emission   7.500   6/23/2022  EUR    63.070
BNP Paribas Emission   9.500   6/23/2022  EUR    38.370
BNP Paribas Emission  10.000   6/23/2022  EUR    35.750
BNP Paribas Emission   9.000   6/23/2022  EUR    71.910
BNP Paribas Emission  10.000   6/23/2022  EUR    72.340
BNP Paribas Emission  18.000   6/23/2022  EUR    74.980
BNP Paribas Emission   6.500   6/23/2022  EUR    67.730
BNP Paribas Emission   8.000   6/23/2022  EUR    63.570
BNP Paribas Emission  11.000   6/23/2022  EUR    62.040
BNP Paribas Emission  13.000   6/23/2022  EUR    57.080
BNP Paribas Emission  20.000   6/23/2022  EUR    68.920
BNP Paribas Emission  13.000   6/23/2022  EUR    34.200
BNP Paribas Emission  12.000   6/23/2022  EUR    73.720
BNP Paribas Emission   4.500   6/23/2022  EUR    72.460
BNP Paribas Emission   8.500   6/23/2022  EUR    74.280
BNP Paribas Emission   9.000   6/23/2022  EUR    77.010
BNP Paribas Emission   9.500   6/23/2022  EUR    72.130
BNP Paribas Emission   6.500   6/23/2022  EUR    78.000
BNP Paribas Emission  10.000   6/23/2022  EUR    52.020
BNP Paribas Emission  13.000   6/23/2022  EUR    49.550
BNP Paribas Emission   8.500   6/23/2022  EUR    72.690
BNP Paribas Emission  16.000   6/23/2022  EUR    60.040
Sberbank of Russia P   0.010   04/06/2026 RUB    56.000
Sberbank of Russia P   0.010   04/05/2028 RUB    73.100
VTB Bank PJSC          0.010   03/11/2026 RUB    60.110
Landesbank Baden-Wue   3.100   4/23/2027  EUR    74.820
BNP Paribas Emission   8.500   6/23/2022  EUR    77.690
BNP Paribas Emission  12.000   6/23/2022  EUR    71.170
BNP Paribas Emission   8.000   6/23/2022  EUR    61.910
BNP Paribas Emission  11.000   6/23/2022  EUR    66.970
EFG International Fi   6.000   3/30/2023  USD    65.450
UniCredit Bank AG      5.300   05/12/2025 EUR    75.800
BNP Paribas Emission   9.500   6/23/2022  EUR    60.960
BNP Paribas Emission  10.000   6/23/2022  EUR    37.620
BNP Paribas Emission  12.000   6/23/2022  EUR    34.350
BNP Paribas Emission  14.000   6/23/2022  EUR    33.120
BNP Paribas Emission  15.000   6/23/2022  EUR    32.420
BNP Paribas Emission  15.000   6/23/2022  EUR    31.360
BNP Paribas Emission  13.000   6/23/2022  EUR    70.850
Raiffeisen Schweiz G   8.000   10/06/2022 CHF    65.340
Vontobel Financial P  14.500   6/24/2022  EUR    62.810
Vontobel Financial P   5.000   9/23/2022  EUR    73.060
Vontobel Financial P  12.000   9/23/2022  EUR    65.340
Vontobel Financial P  13.500   9/23/2022  EUR    60.400
Vontobel Financial P  11.500   9/23/2022  EUR    75.160
Vontobel Financial P  13.500   9/23/2022  EUR    72.850
Vontobel Financial P  16.500   9/23/2022  EUR    69.810
Vontobel Financial P   4.500   9/23/2022  EUR    71.610
Vontobel Financial P  11.000   9/23/2022  EUR    62.010
Vontobel Financial P  13.500   9/23/2022  EUR    59.830
Vontobel Financial P   7.500   9/23/2022  EUR    66.140
Vontobel Financial P   8.500   6/24/2022  EUR    64.500
EFG International Fi   6.000  12/22/2023  USD    21.860
Vontobel Financial P  13.750   6/24/2022  EUR    44.600
Vontobel Financial P   9.000   6/24/2022  EUR    70.520
Basler Kantonalbank   12.000  10/14/2022  CHF    64.520
Vontobel Financial P   7.000   9/23/2022  EUR    69.960
Vontobel Financial P   5.000   9/23/2022  EUR    72.880
Vontobel Financial P   7.500   9/23/2022  EUR    67.780
Vontobel Financial P  10.500   9/23/2022  EUR    63.710
Vontobel Financial P  12.000   6/24/2022  EUR    61.460
Vontobel Financial P  12.500   9/23/2022  EUR    73.970
Vontobel Financial P  12.000   9/23/2022  EUR    60.770
Vontobel Financial P  10.000   6/24/2022  EUR    62.760
Vontobel Financial P  11.500   6/24/2022  EUR    61.150
Vontobel Financial P   6.500   9/23/2022  EUR    67.820
Vontobel Financial P   8.000   9/23/2022  EUR    65.350
Vontobel Financial P  10.750   6/24/2022  EUR    40.460
Vontobel Financial P  16.750   6/24/2022  EUR    55.080
Vontobel Financial P   6.250   6/24/2022  EUR    68.550
Vontobel Financial P  17.750   6/24/2022  EUR    43.380
EFG International Fi   8.000   1/19/2023  CHF    61.170
EFG International Fi   9.000   1/16/2023  CHF    38.270
Raiffeisen Schweiz G  16.000   7/13/2022  CHF    66.420
Societe Generale Eff   4.000   7/22/2022  USD    38.930
Sberbank of Russia P   0.010  12/17/2025  RUB    66.200
GVC George's Venture   2.500  12/18/2030  HUF
Bank Julius Baer & C   7.750   7/15/2022  USD    55.400
Leonteq Securities A  13.000   6/21/2022  CHF    36.410
Raiffeisen Schweiz G  18.520   7/13/2022  CHF    26.250
Vontobel Financial P  11.000   6/24/2022  EUR    74.580
Vontobel Financial P   9.000   9/23/2022  EUR    65.650
Vontobel Financial P   7.000   6/24/2022  EUR    69.150
Vontobel Financial P  14.500   9/23/2022  EUR    71.780
Vontobel Financial P  18.500   9/23/2022  EUR    68.050
Vontobel Financial P   8.500   9/23/2022  EUR    64.580
Vontobel Financial P  13.000   6/24/2022  EUR    59.650
Vontobel Financial P   5.500   9/23/2022  EUR    69.640
Vontobel Financial P  10.000   9/23/2022  EUR    63.340
Vontobel Financial P  14.000   9/23/2022  EUR    74.740
Vontobel Financial P   7.000   9/23/2022  EUR    76.760
Vontobel Financial P   8.500   9/23/2022  EUR    73.510
Vontobel Financial P  10.500   9/23/2022  EUR    70.790
Vontobel Financial P  18.000   9/23/2022  EUR    68.680
Raiffeisen Schweiz G  12.000   07/12/2022 CHF    57.700
Raiffeisen Schweiz G   6.500   01/12/2023 CHF    65.740
Vontobel Financial P  11.000   9/23/2022  EUR    74.160
DZ Bank AG Deutsche    7.000   6/20/2022  EUR    75.010
Vontobel Financial P  15.000   9/23/2022  EUR    71.120
Vontobel Financial P  15.000   6/24/2022  EUR    73.970
Vontobel Financial P  13.000   9/23/2022  EUR    68.590
Vontobel Financial P  10.500   6/24/2022  EUR    71.890
Zurcher Kantonalbank  10.000   6/28/2022  CHF    65.910
Zurcher Kantonalbank   8.000   6/28/2022  EUR    69.890
EFG International Fi  10.030   7/26/2022  USD    45.290
Sberbank of Russia P   0.010  12/17/2025  RUB    66.100
Sberbank of Russia P   0.010  12/17/2025  RUB    62.900
UBS AG/London         12.500   6/23/2022  USD    34.900
UBS AG/London          6.250  12/23/2022  CHF    41.950
Corner Banca SA       13.000  10/19/2022  CHF    35.770
Leonteq Securities A  10.000   1/19/2023  CHF    67.200
Corner Banca SA       11.200   7/19/2022  CHF    32.970
Corner Banca SA        8.000   1/16/2023  CHF    57.320
Corner Banca SA       13.000   1/19/2023  USD    44.620
Leonteq Securities A  10.400   1/19/2023  CHF    60.490
Leonteq Securities A  10.000  10/19/2022  CHF    42.590
Vontobel Financial P  10.000   9/23/2022  EUR    47.690
Vontobel Financial P  16.500   9/23/2022  EUR    43.130
Vontobel Financial P  11.500   6/24/2022  EUR    45.220
Vontobel Financial P  11.500   9/23/2022  EUR    53.560
Vontobel Financial P   6.500   6/24/2022  EUR    58.680
Vontobel Financial P   7.000   9/23/2022  EUR    46.340
Vontobel Financial P   6.000   9/23/2022  EUR    47.740
Vontobel Financial P   8.500   9/23/2022  EUR    45.290
Landesbank Baden-Wue   3.100   7/22/2022  EUR    72.370
Landesbank Baden-Wue   2.300   7/22/2022  EUR    75.400
Landesbank Baden-Wue   3.150   7/22/2022  EUR    72.060
Landesbank Baden-Wue   4.700   7/22/2022  EUR    67.550
Landesbank Baden-Wue   6.250   7/22/2022  EUR    47.320
Societe Generale Eff   9.000   6/24/2022  EUR    35.430
Societe Generale Eff  10.750   6/24/2022  EUR    32.060
Societe Generale Eff   4.250   7/22/2022  EUR    44.940
Societe Generale Eff   8.250   7/22/2022  EUR    35.400
EFG International Fi   6.200  12/18/2023  USD    17.170
DZ Bank AG Deutsche   20.200   6/24/2022  EUR    27.820
Raiffeisen Switzerla   7.500   02/08/2023 CHF    65.510
DZ Bank AG Deutsche   17.500   6/24/2022  EUR    64.760
Vontobel Financial P  15.000   9/23/2022  EUR    70.500
Vontobel Financial P  12.500   9/23/2022  EUR    73.680
Vontobel Financial P  17.000   9/23/2022  EUR    71.720
Vontobel Financial P  15.000   9/23/2022  EUR    66.480
Vontobel Financial P  13.000   6/24/2022  EUR    68.700
Vontobel Financial P  13.000   9/23/2022  EUR    74.610
Vontobel Financial P   8.500   9/23/2022  EUR    43.380
Vontobel Financial P  15.000   9/23/2022  EUR    39.380
Vontobel Financial P   4.500   9/23/2022  EUR    57.650
Vontobel Financial P  13.000   9/23/2022  EUR    57.210
Vontobel Financial P   9.000   6/24/2022  EUR    57.350
Vontobel Financial P   6.000   9/23/2022  EUR    60.350
Zurcher Kantonalbank   9.500   7/22/2022  CHF    71.220
Zurcher Kantonalbank  19.000   7/22/2022  CHF    44.600
UBS AG/London         22.500   6/16/2022  USD    42.450
UBS AG/London         14.500   6/16/2022  CHF    61.350
Raiffeisen Schweiz G  10.000   10/12/2022 EUR    58.800
Raiffeisen Schweiz G  12.000  10/13/2022  CHF    65.560
Societe Generale Eff  14.750   6/24/2022  EUR    29.110
Societe Generale Eff  12.250   7/22/2022  EUR    31.430
Vontobel Financial P  15.750   6/24/2022  EUR    66.980
DZ Bank AG Deutsche   18.500   6/24/2022  EUR    60.830
Vontobel Financial P   5.500   9/23/2022  EUR    46.580
Vontobel Financial P  11.500   9/23/2022  EUR    40.980
Vontobel Financial P   7.500   9/23/2022  EUR    54.960
Vontobel Financial P   3.500   9/23/2022  EUR    57.660
Vontobel Financial P   6.500   9/23/2022  EUR    58.470
Vontobel Financial P   4.500   9/23/2022  EUR    61.080
Vontobel Financial P   3.500   9/23/2022  EUR    59.330
Zurcher Kantonalbank  20.000   7/22/2022  USD    35.690
UBS AG/London         11.750   6/16/2022  CHF    63.750
Landesbank Baden-Wue   4.750   7/22/2022  EUR    73.160
DZ Bank AG Deutsche   15.000   6/24/2022  EUR    73.330
Landesbank Baden-Wue   4.800   7/22/2022  EUR    68.120
Landesbank Baden-Wue   4.000   7/22/2022  EUR    51.260
Societe Generale Eff  12.750   6/24/2022  EUR    30.410
Landesbank Baden-Wue   3.150   7/22/2022  EUR    53.860
Landesbank Baden-Wue   7.200   7/22/2022  EUR    47.160
Landesbank Baden-Wue   9.250   7/22/2022  EUR    45.310
DZ Bank AG Deutsche   15.900   6/24/2022  EUR    64.880
Raiffeisen Switzerla  11.000   08/05/2022 EUR    50.060
Vontobel Financial P  11.000   6/24/2022  EUR    74.610
Vontobel Financial P  11.500   6/24/2022  EUR    74.570
DZ Bank AG Deutsche    8.000   7/20/2022  EUR    72.320
DZ Bank AG Deutsche    8.750   6/22/2022  EUR    70.040
Vontobel Financial P  14.000   6/24/2022  EUR    42.010
DZ Bank AG Deutsche    5.000   7/20/2022  EUR    72.000
DZ Bank AG Deutsche    8.000   7/20/2022  EUR    67.640
DZ Bank AG Deutsche    5.250   9/21/2022  EUR    70.980
Bank Julius Baer & C  15.000   7/13/2022  USD    42.500
DZ Bank AG Deutsche    7.000   9/21/2022  EUR    73.110
Vasutvillamosito Kft   3.000   02/03/2031 HUF    73.200
DZ Bank AG Deutsche    6.100   6/20/2022  EUR    69.490
DZ Bank AG Deutsche    5.100   6/20/2022  EUR    70.940
DZ Bank AG Deutsche    7.000   6/22/2022  EUR    74.000
Zurcher Kantonalbank  15.000   7/20/2022  CHF    54.940
EFG International Fi   6.000   7/13/2022  EUR    57.360
Leonteq Securities A  11.000   08/05/2022 CHF    62.870
DZ Bank AG Deutsche    7.250   9/21/2022  EUR    71.380
Vontobel Financial P   9.250   6/24/2022  EUR    68.000
DZ Bank AG Deutsche    9.000   9/21/2022  EUR    62.060
DZ Bank AG Deutsche    6.500   9/19/2022  EUR    67.100
DZ Bank AG Deutsche    6.250   6/20/2022  EUR    65.210
Bank Julius Baer & C  14.500   1/13/2023  USD    34.400
Vontobel Financial P   9.000   9/23/2022  EUR    70.250
Vontobel Financial P   5.500   9/23/2022  EUR    74.010
Vontobel Financial P  12.500   9/23/2022  EUR    73.030
Vontobel Financial P   6.000   9/23/2022  EUR    52.810
Credit Suisse AG/Lon   9.000   05/05/2022 CHF    58.660
Vontobel Financial P  23.500   6/24/2022  EUR    75.750
BNP Paribas Emission   4.000   6/23/2022  EUR    74.020
Vontobel Financial P   9.500   9/23/2022  EUR    70.520
Vontobel Financial P  16.000   6/24/2022  EUR    62.970
Vontobel Financial P  11.000   9/23/2022  EUR    67.360
Vontobel Financial P  14.000   9/23/2022  EUR    64.890
Vontobel Financial P   8.000   9/23/2022  EUR    70.310
SG Issuer SA           0.021   07/07/2033 EUR    72.110
Bank Vontobel AG      10.500   1/16/2023  CHF    53.600
Bank Vontobel AG       8.000   7/18/2022  CHF    29.300
Vontobel Financial P  13.500   9/23/2022  EUR    45.190
Vontobel Financial P  11.000   6/24/2022  EUR    53.050
Vontobel Financial P  15.000   9/23/2022  EUR    41.200
Vontobel Financial P   9.500   9/23/2022  EUR    44.150
Vontobel Financial P  11.000   9/23/2022  EUR    43.330
Sberbank of Russia P   0.010  12/22/2025  RUB    64.800
Leonteq Securities A  12.000   6/28/2022  CHF    68.780
Sberbank of Russia P   0.010  12/29/2025  RUB    72.200
Vontobel Financial P   8.400   12/04/2023 EUR    77.120
Societe Generale Eff  13.250   6/24/2022  EUR    74.500
EFG International Fi  10.000   7/27/2022  CHF    61.350
Leonteq Securities A   9.000   02/01/2023 CHF    62.750
Leonteq Securities A  15.000   4/28/2022  CHF    63.530
Leonteq Securities A   9.000   7/29/2022  CHF    60.500
Societe Generale Eff  16.250   5/27/2022  EUR    69.860
Societe Generale Eff  13.500   8/26/2022  EUR    72.810
Raiffeisen Switzerla   7.300   1/25/2023  CHF    60.820
Erste Group Bank AG    7.250   03/03/2026 EUR    42.950
Leonteq Securities A  10.000   4/26/2022  CHF    58.320
Landesbank Baden-Wue   4.700  10/28/2022  EUR    66.780
Bank Vontobel AG       6.007   9/26/2022  CHF    68.000
Bank Vontobel AG       9.009   9/26/2022  EUR    64.300
Bank Vontobel AG      12.751   6/27/2022  CHF    31.300
Bank Vontobel AG      15.009   6/27/2022  CHF    29.400
Bank Vontobel AG      22.008   6/27/2022  CHF    54.000
UBS AG/London          9.750   9/30/2022  CHF    80.700
UBS AG/London         16.000   9/30/2022  CHF    37.550
Landesbank Baden-Wue   3.750  10/28/2022  EUR    69.350
Landesbank Baden-Wue   3.500  10/28/2022  EUR    42.920
Bank Vontobel AG       9.000   9/26/2022  EUR    64.300
Bank Vontobel AG       4.255   6/27/2022  CHF    66.500
Bank Vontobel AG      14.006   9/26/2022  CHF    32.200
Bank Vontobel AG      12.508   9/26/2022  CHF    62.200
Bank Vontobel AG       5.507   9/25/2023  CHF    72.100
Landesbank Baden-Wue   7.500  10/28/2022  EUR    74.490
Landesbank Baden-Wue   5.600  10/28/2022  EUR    70.760
Landesbank Baden-Wue   5.050  10/28/2022  EUR    49.400
Landesbank Baden-Wue   4.050  10/28/2022  EUR    40.960
Landesbank Baden-Wue   6.350  10/28/2022  EUR    36.880
Landesbank Baden-Wue   7.100  10/28/2022  EUR    58.350
Vontobel Financial P   9.250  12/23/2022  EUR    47.260
UBS AG/London          7.250   11/03/2023 CHF    73.550
Leonteq Securities A   3.790   1/25/2023  EUR    75.130
EFG International Fi  15.000   11/03/2022 CHF    67.260
Leonteq Securities A   7.000   7/22/2022  CHF    64.390
Nordea Bank Abp        7.100   7/20/2024  SEK    70.490
Nordea Bank Abp        9.000   7/20/2024  SEK    67.030
UniCredit Bank AG      4.350   7/31/2023  EUR    59.560
Sberbank of Russia P   0.010   1/21/2026  RUB    63.700
UBS AG/London          9.750   7/20/2022  CHF    57.250
Zurcher Kantonalbank   8.000   4/29/2022  USD    46.430
DZ Bank AG Deutsche   15.600   9/23/2022  EUR    58.210
DZ Bank AG Deutsche   19.900   6/24/2022  EUR    59.270
DZ Bank AG Deutsche   15.700   9/23/2022  EUR    62.500
DZ Bank AG Deutsche   15.800   9/23/2022  EUR    28.990
DZ Bank AG Deutsche   20.200   6/24/2022  EUR    64.650
UniCredit Bank AG     10.700   02/03/2025 EUR    72.800
UniCredit Bank AG     10.700   2/17/2025  EUR    73.480
Sberbank of Russia P   0.010   1/21/2026  RUB    64.100
DZ Bank AG Deutsche   17.600   6/24/2022  EUR    54.900
DZ Bank AG Deutsche   17.500   9/23/2022  EUR    60.160
DZ Bank AG Deutsche   17.000   6/24/2022  EUR    68.410
DZ Bank AG Deutsche   18.000   6/24/2022  EUR    25.420
UBS AG/London          7.750   7/20/2022  CHF    47.600
DZ Bank AG Deutsche   13.500   9/23/2022  EUR    72.040
Bank Vontobel AG       7.506   7/15/2022  CHF    57.100
Zurcher Kantonalbank   7.500   4/29/2022  CHF    46.310
Zurcher Kantonalbank   7.500   7/28/2022  CHF    59.950
DZ Bank AG Deutsche   21.100   6/24/2022  EUR    57.240
DZ Bank AG Deutsche   24.900   9/23/2022  EUR    54.710
DZ Bank AG Deutsche   13.300   9/23/2022  EUR    70.380
DZ Bank AG Deutsche    8.600   6/24/2022  EUR    63.300
DZ Bank AG Deutsche    7.900   9/23/2022  EUR    69.600
UBS AG/London          7.750   7/20/2022  CHF    56.850
UBS AG/London         15.250   7/21/2022  USD    34.450
DZ Bank AG Deutsche   16.200   6/24/2022  EUR    69.180
DZ Bank AG Deutsche   13.000   6/24/2022  EUR    55.110
Bank Julius Baer & C  11.050   11/03/2022 USD    75.650
Leonteq Securities A  14.000   4/26/2022  CHF    31.390
Leonteq Securities A  13.000   7/25/2022  USD    31.340
Leonteq Securities A   7.450   1/25/2023  EUR    36.710
UBS AG/London          7.250   05/03/2023 EUR    72.000
EFG International Fi   4.750   1/29/2024  USD    57.110
Sberbank of Russia P   0.010   11/02/2028 RUB    68.400
DZ Bank AG Deutsche    7.750   6/22/2022  EUR    69.970
DZ Bank AG Deutsche    5.500   6/22/2022  EUR    75.000
DZ Bank AG Deutsche    5.000   6/22/2022  EUR    74.600
Vontobel Financial P  13.000   9/23/2022  EUR    74.330
Vontobel Financial P  14.500   9/23/2022  EUR    72.760
Vontobel Financial P  19.000   9/23/2022  EUR    68.750
Vontobel Financial P  15.500   9/23/2022  EUR    73.070
Vontobel Financial P  12.500   9/23/2022  EUR    66.070
Vontobel Financial P  16.000   9/23/2022  EUR    64.020
Bank Julius Baer & C  15.000   6/15/2022  USD    67.900
Zurcher Kantonalbank  11.500   07/06/2022 CHF    75.530
Zurcher Kantonalbank  11.250   07/06/2022 EUR    41.470
Leonteq Securities A  11.000   9/15/2022  CHF    34.960
Vontobel Financial P  11.500   6/24/2022  EUR    73.800
Vontobel Financial P  11.500   6/24/2022  EUR    70.790
Societe Generale Eff   9.000   8/26/2022  EUR    71.830
DZ Bank AG Deutsche    7.500   7/20/2022  EUR    65.060
Vontobel Financial P  20.000   6/24/2022  EUR    53.590
DZ Bank AG Deutsche    4.750   9/21/2022  EUR    60.340
Leonteq Securities A  14.000   10/05/2022 CHF    61.480
Corner Banca SA       16.000   10/05/2022 CHF    59.940
Vontobel Financial P   8.000   9/23/2022  EUR    62.360
Vontobel Financial P   7.000   9/23/2022  EUR    61.950
Leonteq Securities A  10.000  12/14/2022  CHF    59.950
Leonteq Securities A   9.000   01/06/2023 CHF    65.350
Vontobel Financial P  15.000   6/24/2022  EUR    54.320
Federal Grid Co Unif   7.500   5/21/2036  RUB    66.180
DZ Bank AG Deutsche    8.250   6/22/2022  EUR    74.870
DZ Bank AG Deutsche    8.000   9/21/2022  EUR    64.660
Vontobel Financial P  16.000   9/23/2022  EUR    71.310
Vontobel Financial P  14.000   9/23/2022  EUR    74.290
Vontobel Financial P  10.500   9/23/2022  EUR    78.200
Vontobel Financial P  14.500   9/23/2022  EUR    74.150
Vontobel Financial P  14.500   9/23/2022  EUR    65.090
Vontobel Financial P   3.500   9/23/2022  EUR    55.640
Vontobel Financial P   8.500   9/23/2022  EUR    66.640
Leonteq Securities A  20.000   6/15/2022  CHF    33.000
DZ Bank AG Deutsche    7.000   6/22/2022  EUR    69.270
DZ Bank AG Deutsche    5.750   9/21/2022  EUR    70.560
DZ Bank AG Deutsche    5.250   9/21/2022  EUR    72.970
DZ Bank AG Deutsche    5.250   9/21/2022  EUR    73.790
Vontobel Financial P   8.000   9/23/2022  EUR    70.300
Vontobel Financial P   3.750   01/03/2023 EUR    37.920
Vontobel Financial P  13.000   9/23/2022  EUR    75.350
Vontobel Financial P  14.000   9/23/2022  EUR    72.850
Vontobel Financial P  12.500   9/23/2022  EUR    73.750
Vontobel Financial P  19.000   9/23/2022  EUR    71.090
Vontobel Financial P  17.500   9/23/2022  EUR    72.140
Vontobel Financial P  15.000   9/23/2022  EUR    71.810
Bank Julius Baer & C   6.900   07/06/2022 CHF    72.100
Bank Julius Baer & C   6.300   07/06/2022 CHF    69.950
Zurcher Kantonalbank  11.500   07/06/2022 EUR    70.090
Zurcher Kantonalbank  15.250   07/06/2022 CHF    39.260
Leonteq Securities A  15.000   6/15/2022  CHF    25.640
Vontobel Financial P  17.000   9/23/2022  EUR    71.190
Vontobel Financial P  13.500   6/24/2022  EUR    70.440
Vontobel Financial P  10.500  10/18/2022  EUR    36.280
Zurcher Kantonalbank  15.000   7/13/2022  CHF    36.810
Credit Suisse AG/Lon  15.000   6/14/2022  CHF    66.120
Vontobel Financial P  15.500   9/23/2022  EUR    72.840
Vontobel Financial P   5.000   9/23/2022  EUR    68.730
DZ Bank AG Deutsche    5.250   7/20/2022  EUR    73.500
Vontobel Financial P  16.000   6/24/2022  EUR    77.300
Societe Generale Eff   8.000   8/26/2022  EUR    73.490
DZ Bank AG Deutsche    5.750   7/20/2022  EUR    63.140
DZ Bank AG Deutsche    8.750   7/20/2022  EUR    68.810
Leonteq Securities A   5.710   9/23/2022  USD    49.530
Bank Julius Baer & C   7.350   9/23/2022  USD    68.250
Vontobel Financial P  15.500   6/24/2022  EUR    66.980
DZ Bank AG Deutsche    5.000   7/20/2022  EUR    78.440
DZ Bank AG Deutsche    7.000   9/21/2022  EUR    61.250
DZ Bank AG Deutsche    6.500   6/22/2022  EUR    75.060
Zurcher Kantonalbank  11.000   6/22/2022  USD    57.640
Vontobel Financial P  11.500   6/24/2022  EUR    67.110
Vontobel Financial P  15.500   6/24/2022  EUR    59.910
Sberbank of Russia P   0.010   07/05/2028 RUB    59.700
Sberbank of Russia P   0.010   07/06/2026 RUB    74.000
Sberbank of Russia P   0.010   07/03/2026 RUB    55.800
EFG International Fi  18.000   6/30/2022  EUR    65.280
DZ Bank AG Deutsche    6.000   6/22/2022  EUR    73.840
DZ Bank AG Deutsche    8.500   6/22/2022  EUR    70.520
DZ Bank AG Deutsche   16.000   6/22/2022  EUR    73.390
Vontobel Financial P  17.500   9/23/2022  EUR    69.980
Vontobel Financial P  11.500   9/23/2022  EUR    76.630
Vontobel Financial P   9.500   9/23/2022  EUR    68.770
Vontobel Financial P   6.500   9/23/2022  EUR    64.270
Raiffeisen Schweiz G   7.500   3/17/2023  USD    55.600
Vontobel Financial P  13.500   6/24/2022  EUR    68.800
Vontobel Financial P  17.000   6/24/2022  EUR    65.150
Vontobel Financial P  14.000   6/24/2022  EUR    76.980
Leonteq Securities A  12.000   8/31/2022  CHF    64.920
Zurcher Kantonalbank   6.500   06/07/2022 CHF    64.580
Raiffeisen Schweiz G  17.500   9/14/2022  CHF    74.230
Raiffeisen Schweiz G   7.250   9/13/2023  CHF    74.200
Erste Group Bank AG    4.000   10/01/2025 EUR    58.300
Societe Generale Eff   9.250   6/24/2022  EUR    73.030
Societe Generale Eff   7.000  10/28/2022  EUR    74.370
Vontobel Financial P  13.500   6/24/2022  EUR    69.030
Vontobel Financial P  10.500   6/24/2022  EUR    68.290
Vontobel Financial P   8.000   6/24/2022  EUR    51.310
Vontobel Financial P  12.500   6/24/2022  EUR    52.040
Vontobel Financial P  11.000   6/24/2022  EUR    69.810
Vontobel Financial P  13.250   9/23/2022  EUR    55.160
Societe Generale Eff  10.500  10/28/2022  EUR    70.800
Societe Generale Eff  10.500  10/28/2022  EUR    35.730
Vontobel Financial P   7.000   9/23/2022  EUR    64.960
Vontobel Financial P  18.500   9/23/2022  EUR    54.810
Vontobel Financial P   6.000   9/23/2022  EUR    66.060
Vontobel Financial P   9.000   9/23/2022  EUR    61.620
Vontobel Financial P   8.500   9/23/2022  EUR    53.890
Societe Generale Eff  13.750  10/28/2022  EUR    71.660
Raiffeisen Schweiz G  16.000   9/20/2022  CHF    33.480
Vontobel Financial P  11.000   6/24/2022  EUR    70.710
Vontobel Financial P  18.000   6/24/2022  EUR    70.890
Leonteq Securities A  25.680   9/23/2022  CHF    36.180
Vontobel Financial P  15.000   9/23/2022  EUR    44.150
Vontobel Financial P  13.000   9/23/2022  EUR    45.230
Vontobel Financial P   9.000   9/23/2022  EUR    48.010
Vontobel Financial P   9.000   9/23/2022  EUR    73.660
Vontobel Financial P  13.500   9/23/2022  EUR    69.530
Vontobel Financial P  13.500   6/24/2022  EUR    69.110
Vontobel Financial P  12.500   9/23/2022  EUR    68.190
Vontobel Financial P  16.000   9/23/2022  EUR    65.800
Vontobel Financial P  11.000   9/23/2022  EUR    69.670
Basler Kantonalbank   12.000  12/22/2022  CHF    65.180
Vontobel Financial P  12.500   9/23/2022  EUR    58.250
Vontobel Financial P  16.250   6/24/2022  EUR    59.880
VTB Bank PJSC          0.010   06/03/2026 RUB    65.200
Leonteq Securities A  20.880   9/23/2022  CHF    30.960
Vontobel Financial P   5.000   6/24/2022  EUR    57.070
Vontobel Financial P   8.000   6/24/2022  EUR    47.530
Vontobel Financial P  17.500   9/23/2022  EUR    55.290
Vontobel Financial P  10.000   9/23/2022  EUR    60.750
Basler Kantonalbank    8.000   3/22/2023  CHF    68.080
Vontobel Financial P   7.250   6/24/2022  EUR    59.050
Leonteq Securities A  14.000   9/23/2022  CHF    66.970
Leonteq Securities A  10.000  12/23/2022  CHF    71.250
Societe Generale Eff   6.500  10/28/2022  EUR    43.010
Societe Generale Eff   8.500  10/28/2022  EUR    38.280
Societe Generale Eff  12.500  10/28/2022  EUR    34.040
Societe Generale Eff  16.250   9/23/2022  EUR    57.140
Societe Generale Eff   5.500  10/28/2022  EUR    74.920
Societe Generale Eff   6.500  10/28/2022  EUR    73.110
Societe Generale Eff   7.500  10/28/2022  EUR    71.610
Societe Generale Eff   8.500  10/28/2022  EUR    70.360
Societe Generale Eff   7.250   6/24/2022  EUR    76.750
Societe Generale Eff  13.500   9/23/2022  EUR    66.810
Societe Generale Eff   8.000  10/28/2022  EUR    72.450
Leonteq Securities A  22.520   07/06/2022 CHF    22.460
Leonteq Securities A  20.000   07/06/2022 CHF    32.020
Vontobel Financial P  15.500   6/24/2022  EUR    66.980
Vontobel Financial P  10.000   6/24/2022  EUR    73.560
Vontobel Financial P   5.000   9/23/2022  EUR    68.870
Vontobel Financial P   5.500   9/23/2022  EUR    67.430
Vontobel Financial P   7.500   9/23/2022  EUR    63.720
Vontobel Financial P  11.000   9/23/2022  EUR    59.940
Vontobel Financial P  11.500   9/23/2022  EUR    58.970
Vontobel Financial P  14.500   9/23/2022  EUR    56.950
Vontobel Financial P  13.500   9/23/2022  EUR    57.580
Vontobel Financial P   9.250   9/23/2022  EUR    74.140
Societe Generale Eff   8.500  10/28/2022  EUR    73.940
Societe Generale Eff  14.500  10/28/2022  EUR    33.080
Societe Generale Eff   6.250   9/23/2022  EUR    75.910
Societe Generale Eff  11.750  10/28/2022  EUR    74.320
Sberbank of Russia P   0.010   9/21/2028  RUB    55.100
Raiffeisen Schweiz G  16.000   9/20/2022  CHF    39.660
Raiffeisen Schweiz G   7.500   3/17/2023  CHF    63.230
Vontobel Financial P   7.500   6/24/2022  EUR    79.340
Vontobel Financial P   8.000   6/24/2022  EUR    58.270
Vontobel Financial P  17.500   9/23/2022  EUR    43.440
Vontobel Financial P  11.000   9/23/2022  EUR    46.510
Vontobel Financial P   7.000   9/23/2022  EUR    49.790
Vontobel Financial P  11.000   9/23/2022  EUR    71.370
Vontobel Financial P  11.500   6/24/2022  EUR    74.260
Vontobel Financial P  17.000   6/24/2022  EUR    64.820
Vontobel Financial P  11.500   9/23/2022  EUR    33.300
Vontobel Financial P   5.500   9/23/2022  EUR    52.080
Vontobel Financial P  10.500   6/24/2022  EUR    71.810
Vontobel Financial P  14.000   9/23/2022  EUR    66.830
Vontobel Financial P  15.500   9/23/2022  EUR    56.360
Vontobel Financial P  16.500   9/23/2022  EUR    55.810
Vontobel Financial P   8.500   9/23/2022  EUR    62.740
Vontobel Financial P   6.000   9/23/2022  EUR    76.190
Leonteq Securities A  17.000   1/18/2023  CHF    44.680
Vontobel Financial P   5.500   6/24/2022  EUR    70.050
Vontobel Financial P  12.750   6/24/2022  EUR    42.980
Vontobel Financial P   6.250   6/24/2022  EUR    75.590
Leonteq Securities A  10.000   4/18/2023  USD    55.760
Leonteq Securities A  18.000   10/06/2022 CHF    58.840
Leonteq Securities A  18.000   07/06/2022 CHF    64.470
Landesbank Baden-Wue   2.500   8/25/2023  EUR    60.010
UniCredit Bank AG      3.700   6/25/2022  EUR    48.360
Leonteq Securities A   2.500   06/05/2024 EUR    66.450
UniCredit Bank AG      3.850   6/28/2022  EUR    60.370
UniCredit Bank AG      3.800   6/28/2022  EUR    33.860
UniCredit Bank AG      4.250   6/28/2022  EUR    46.230
Vontobel Financial P   7.350   6/15/2022  USD    44.120
DZ Bank AG Deutsche   22.800   6/24/2022  EUR    64.130
DZ Bank AG Deutsche    6.500   9/21/2022  EUR    74.420
Vontobel Financial P   7.750   6/24/2022  EUR    73.900
Bank Julius Baer & C   6.850   6/15/2022  CHF    71.550
Societe Generale Eff  14.250   6/24/2022  EUR    75.000
DZ Bank AG Deutsche    6.500   6/22/2022  EUR    71.810
DZ Bank AG Deutsche    9.500   6/22/2022  EUR    62.940
DZ Bank AG Deutsche    7.500  12/23/2022  EUR    56.370
Vontobel Financial P   9.350   6/24/2022  EUR    69.440
Vontobel Financial P   7.700   08/02/2022 CHF    43.900
Leonteq Securities A  24.480   9/21/2022  CHF    44.800
Leonteq Securities A  10.000   10/05/2022 CHF    31.300
Vontobel Financial P   6.000   9/23/2022  EUR    73.330
Vontobel Financial P  12.500   9/23/2022  EUR    32.500
Vontobel Financial P   7.500   6/24/2022  EUR    63.960
Corner Banca SA       12.000   6/14/2022  CHF    62.340
Societe Generale Eff   5.500   9/23/2022  EUR    48.540
DZ Bank AG Deutsche    6.750   6/22/2022  EUR    73.340
DZ Bank AG Deutsche   14.500  12/21/2022  EUR    68.230
DZ Bank AG Deutsche    5.000   6/22/2022  EUR    72.580
Societe Generale Eff  11.500   5/27/2022  EUR    55.160
Vontobel Financial P   6.250   6/24/2022  EUR    67.190
Corner Banca SA       12.000   01/05/2023 EUR    74.690
Leonteq Securities A  10.000   10/05/2022 CHF    73.080
Corner Banca SA       16.000   07/06/2022 CHF    64.540
Vontobel Financial P  16.000   9/23/2022  EUR    72.280
Leonteq Securities A  14.000   9/14/2022  EUR    34.020
Corner Banca SA       10.400  12/14/2022  CHF    37.640
Vontobel Financial P   9.000   6/24/2022  EUR    46.460
Vontobel Financial P  15.500   6/24/2022  EUR    41.070
Vontobel Financial P  10.500   6/24/2022  EUR    44.900
Leonteq Securities A  14.000   9/14/2022  CHF    50.360
Leonteq Securities A  25.460   07/01/2022 CHF    26.270
Vontobel Financial P  11.500   6/24/2022  EUR    59.610
Vontobel Financial P   6.500   6/24/2022  EUR    66.430
Corner Banca SA       17.000   1/17/2023  EUR    46.310
Vontobel Financial P  18.000   6/24/2022  EUR    24.930
Vontobel Financial P  19.500   6/24/2022  EUR    62.430
Vontobel Financial P   9.250   6/24/2022  EUR    40.210
Leonteq Securities A   6.000   07/05/2023 CHF    74.210
Leonteq Securities A  21.520   07/01/2022 CHF    21.600
Vontobel Financial P   8.000   6/24/2022  EUR    59.040
DZ Bank AG Deutsche   15.500   6/22/2022  EUR    70.300
DZ Bank AG Deutsche    5.000   9/21/2022  EUR    71.860
Bank Julius Baer & C   7.600   07/01/2022 EUR    68.250
Citigroup Global Mar   2.600   10/12/2028 EUR    77.020
DZ Bank AG Deutsche   15.500   9/21/2022  EUR    68.440
Bank Julius Baer & C   9.000   07/01/2022 USD    41.450
Bank Julius Baer & C   6.200  12/21/2022  CHF    71.200
Zurcher Kantonalbank   8.000   6/21/2023  CHF    64.030
Zurcher Kantonalbank  11.000   6/21/2022  CHF    65.490
Zurcher Kantonalbank  12.000   6/21/2022  CHF    57.030
DZ Bank AG Deutsche   10.000  12/23/2022  EUR    51.470
Vontobel Financial P  18.000   9/23/2022  EUR    32.220
DZ Bank AG Deutsche   10.000   6/24/2022  EUR    50.320
Vontobel Financial P  16.500   6/24/2022  EUR    60.370
Zurcher Kantonalbank  12.500   10/05/2022 USD    49.110
Bank Julius Baer & C   7.500   11/11/2022 EUR    71.100
Bank Julius Baer & C   7.900   2/13/2023  EUR    73.300
UBS AG/London          7.500   9/29/2023  CHF    70.550
UBS AG/London         14.750   3/29/2023  CHF    61.850
UBS AG/London         13.000   3/29/2023  USD    46.800
UBS AG/London          8.750   3/29/2023  CHF    65.100
UBS AG/London         14.250   4/20/2023  USD    55.400
UBS AG/London          4.750   7/21/2022  EUR    72.000
UBS AG/London          9.000   7/21/2023  EUR    71.450
Landesbank Baden-Wue   9.150  10/28/2022  EUR    65.480
Credit Suisse AG/Lon   6.000  11/28/2022  CHF    74.660
Credit Suisse AG/Lon  10.000   09/09/2022 USD    53.080
Credit Suisse AG/Lon   7.250   12/01/2022 CHF    70.850
Credit Suisse AG/Lon  16.000   6/27/2022  EUR    63.640
Credit Suisse AG/Lon  10.000   9/26/2022  EUR    68.100
Credit Suisse AG/Lon  10.000   10/03/2022 CHF    54.240
Credit Suisse AG/Lon   7.500   09/08/2022 EUR    65.760
Credit Suisse AG/Lon   8.500   9/13/2022  CHF    29.460
Credit Suisse AG/Lon  15.000   9/15/2022  USD    37.690
Credit Suisse AG/Lon   8.500  12/16/2022  CHF    60.680
Bank Vontobel AG       7.250   3/24/2023  CHF    71.800
Vontobel Financial P   4.500  12/23/2022  EUR    77.220
Vontobel Financial P  10.500  12/23/2022  EUR    74.270
Vontobel Financial P   4.500   9/23/2022  EUR    79.450
Vontobel Financial P   5.500  12/23/2022  EUR    47.270
Vontobel Financial P  11.500  12/23/2022  EUR    43.030
Vontobel Financial P  15.000  12/23/2022  EUR    42.260
UBS AG/London          9.500   6/30/2022  EUR    67.950
UBS AG/London          4.500   07/01/2024 CHF    73.750
UBS AG/London         11.000   6/30/2022  CHF    28.300
Vontobel Financial P  16.500  12/23/2022  EUR    68.030
UBS AG/London          6.000   6/30/2023  CHF    59.300
Vontobel Financial P  10.000  12/23/2022  EUR    73.510
Vontobel Financial P  15.000  12/23/2022  EUR    70.370
Vontobel Financial P  13.000  12/23/2022  EUR    71.070
Vontobel Financial P  14.500  12/23/2022  EUR    67.990
Vontobel Financial P   7.500  12/23/2022  EUR    57.620
Vontobel Financial P   4.000  12/23/2022  EUR    62.850
Vontobel Financial P   8.000  12/23/2022  EUR    69.170
Vontobel Financial P   5.000  12/23/2022  EUR    72.980
Vontobel Financial P  13.000  12/23/2022  EUR    73.720
Vontobel Financial P  12.000  12/23/2022  EUR    66.800
Bank Vontobel AG       7.500   1/16/2023  EUR    73.100
Bank Vontobel AG      13.000  10/17/2022  CHF    39.000
Vontobel Financial P   8.500  12/23/2022  EUR    71.770
Vontobel Financial P   7.500  12/23/2022  EUR    73.360
Vontobel Financial P  12.000  12/23/2022  EUR    68.980
Vontobel Financial P  10.000  12/23/2022  EUR    70.540
Vontobel Financial P  14.000  12/23/2022  EUR    67.580
Vontobel Financial P  10.500  12/23/2022  EUR    69.940
Vontobel Financial P  13.500  12/23/2022  EUR    68.130
Vontobel Financial P  11.500  12/23/2022  EUR    69.610
Vontobel Financial P  15.000  12/23/2022  EUR    67.380
Vontobel Financial P  12.500  12/23/2022  EUR    68.380
Vontobel Financial P   5.500  12/23/2022  EUR    71.920
EFG International Fi  19.000   11/10/2022 CHF    43.650
Leonteq Securities A   9.000   05/11/2023 CHF    73.500
Vontobel Financial P   8.500  12/23/2022  EUR    58.580
Vontobel Financial P   8.250  12/23/2022  EUR    36.320
Vontobel Financial P  12.500  12/23/2022  EUR    39.440
Leonteq Securities A   2.380   11/10/2022 EUR    43.480
DekaBank Deutsche Gi   7.260   5/30/2022  EUR    69.070
Leonteq Securities A  26.400   11/08/2022 CHF    48.820
Leonteq Securities A  26.400  11/15/2022  USD    54.190
Leonteq Securities A  22.800   11/11/2022 CHF    33.920
Societe Generale Eff  14.250   6/24/2022  EUR    66.030
Societe Generale Eff  11.750   9/23/2022  EUR    71.770
UBS AG/London          6.250   11/10/2023 CHF    70.100
Bank Vontobel AG      12.000   05/09/2023 EUR    60.000
Bank Vontobel AG      24.000   08/09/2022 CHF    42.000
Zurcher Kantonalbank  11.000   11/08/2022 CHF    70.210
Zurcher Kantonalbank  12.500   11/04/2022 CHF    64.400
Zurcher Kantonalbank  13.550   11/04/2022 CHF    61.650
Landesbank Baden-Wue  29.630  10/28/2022  EUR    75.140
Leonteq Securities A  18.000  11/15/2022  CHF    42.760
Corner Banca SA       20.000  11/15/2022  CHF    52.810
Leonteq Securities A  14.000   2/15/2023  CHF    43.160
Leonteq Securities A   9.000   05/12/2023 CHF    51.420
Corner Banca SA       10.000   5/15/2023  USD    45.050
Corner Banca SA       10.000   05/12/2023 CHF    70.870
Leonteq Securities A   7.000   05/12/2023 CHF    70.690
Vontobel Financial P  27.900   6/24/2022  EUR    64.930
Landesbank Baden-Wue   4.000  11/25/2022  EUR    71.280
Landesbank Baden-Wue  11.500  11/25/2022  EUR    72.990
Societe Generale Eff  14.000   5/27/2022  EUR    68.280
Societe Generale Eff   7.500   5/27/2022  EUR    45.590
Landesbank Baden-Wue   4.350  11/25/2022  EUR    75.730
Landesbank Baden-Wue   5.650  11/25/2022  EUR    78.570
Landesbank Baden-Wue   3.750  11/25/2022  EUR    76.160
Landesbank Baden-Wue   5.850  11/25/2022  EUR    72.520
Landesbank Baden-Wue   4.150  11/25/2022  EUR    57.180
Landesbank Baden-Wue   8.300  11/25/2022  EUR    46.990
Bank Vontobel AG      13.750   05/08/2023 CHF    53.600
Bank Vontobel AG      14.000  11/14/2022  CHF    41.800
Bank Vontobel AG       9.000   05/12/2023 CHF    72.900
Bank Vontobel AG      14.000   05/12/2023 CHF    66.800
Bank Vontobel AG      18.750  11/14/2022  CHF    40.700
Bank Vontobel AG       8.750   05/12/2023 CHF    58.800
Vontobel Financial P  18.000   9/23/2022  EUR    72.270
Vontobel Financial P  12.500  12/23/2022  EUR    70.800
Vontobel Financial P  13.500  12/23/2022  EUR    69.570
Vontobel Financial P  14.500  12/23/2022  EUR    68.420
Vontobel Financial P  16.000  12/23/2022  EUR    67.700
Vontobel Financial P  19.500  12/23/2022  EUR    65.290
Vontobel Financial P  18.000  12/23/2022  EUR    65.820
Vontobel Financial P  17.000  12/23/2022  EUR    66.730
Vontobel Financial P  12.500   9/23/2022  EUR    70.120
Vontobel Financial P  15.500   9/23/2022  EUR    67.240
Vontobel Financial P  20.500   9/23/2022  EUR    63.850
Vontobel Financial P  14.000   9/23/2022  EUR    68.630
Vontobel Financial P  17.500   9/23/2022  EUR    66.140
Vontobel Financial P  19.000   9/23/2022  EUR    64.960
Vontobel Financial P  22.000   9/23/2022  EUR    62.850
Vontobel Financial P  17.500  12/23/2022  EUR    74.670
Vontobel Financial P  20.000   9/23/2022  EUR    73.760
Vontobel Financial P  18.000   9/23/2022  EUR    74.910
Vontobel Financial P   3.000  12/23/2022  EUR    77.140
Vontobel Financial P  17.500  12/23/2022  EUR    70.070
Vontobel Financial P   8.000  12/23/2022  EUR    65.340
Vontobel Financial P  11.500  12/23/2022  EUR    67.650
Vontobel Financial P   7.000  12/23/2022  EUR    54.290
Vontobel Financial P   7.500  12/23/2022  EUR    67.700
Vontobel Financial P   8.000  12/23/2022  EUR    71.060
Vontobel Financial P   5.000   9/23/2022  EUR    67.800
Vontobel Financial P  14.000  12/23/2022  EUR    63.360
Vontobel Financial P  12.000  12/23/2022  EUR    65.280
Vontobel Financial P  16.500   9/23/2022  EUR    60.960
Vontobel Financial P  14.000   9/23/2022  EUR    63.340
Vontobel Financial P  19.000   9/23/2022  EUR    58.890
Vontobel Financial P  18.000  12/23/2022  EUR    60.350
Vontobel Financial P  16.000  12/23/2022  EUR    61.720
Vontobel Financial P   8.000  12/23/2022  EUR    64.970
Vontobel Financial P   9.500  12/23/2022  EUR    62.560
Vontobel Financial P  12.000  12/23/2022  EUR    61.080
Vontobel Financial P  11.500   9/23/2022  EUR    66.100
Vontobel Financial P  14.000  12/23/2022  EUR    59.630
Vontobel Financial P  16.000  12/23/2022  EUR    58.370
Vontobel Financial P   7.500   9/23/2022  EUR    64.640
Vontobel Financial P  10.000   9/23/2022  EUR    61.950
Vontobel Financial P  15.000  12/23/2022  EUR    58.950
Vontobel Financial P  11.000   9/23/2022  EUR    60.610
Vontobel Financial P   8.500   9/23/2022  EUR    63.090
Vontobel Financial P  17.000  12/23/2022  EUR    57.850
Vontobel Financial P  12.500   9/23/2022  EUR    59.630
Vontobel Financial P  15.500   9/23/2022  EUR    57.890
Vontobel Financial P  14.000   9/23/2022  EUR    58.720
Vontobel Financial P  18.500   9/23/2022  EUR    56.380
Vontobel Financial P  17.000   9/23/2022  EUR    57.070
Vontobel Financial P   6.000  12/23/2022  EUR    42.390
Vontobel Financial P  10.000  12/23/2022  EUR    40.270
Vontobel Financial P  11.500  12/23/2022  EUR    39.770
Vontobel Financial P   6.000   9/23/2022  EUR    41.280
Vontobel Financial P   9.500   9/23/2022  EUR    38.950
Vontobel Financial P   8.000  12/23/2022  EUR    41.170
Vontobel Financial P  13.000  12/23/2022  EUR    39.830
Vontobel Financial P  15.000  12/23/2022  EUR    39.450
Vontobel Financial P  14.000  12/23/2022  EUR    39.610
Vontobel Financial P  10.500   9/23/2022  EUR    38.240
Vontobel Financial P  13.500   9/23/2022  EUR    37.470
Vontobel Financial P   7.000   9/23/2022  EUR    40.350
Vontobel Financial P  17.000   9/23/2022  EUR    37.120
Vontobel Financial P   8.000   9/23/2022  EUR    39.500
Vontobel Financial P  12.000   9/23/2022  EUR    37.830
Vontobel Financial P  16.500  12/23/2022  EUR    39.650
Vontobel Financial P  15.000   9/23/2022  EUR    37.170
Vontobel Financial P  20.000   9/23/2022  EUR    55.750
Vontobel Financial P   4.500  12/23/2022  EUR    77.630
Vontobel Financial P   7.000   9/23/2022  EUR    76.730
Vontobel Financial P   7.000   9/23/2022  EUR    69.150
Vontobel Financial P   7.500   9/23/2022  EUR    64.780
DZ Bank AG Deutsche    9.500   5/25/2022  EUR    73.070
DZ Bank AG Deutsche   12.000   6/22/2022  EUR    66.060
DZ Bank AG Deutsche   13.000   6/22/2022  EUR    65.460
DZ Bank AG Deutsche   10.500   5/25/2022  EUR    30.450
DZ Bank AG Deutsche    6.000  12/21/2022  EUR    60.650
Societe Generale Eff  10.250  10/28/2022  EUR    72.240
Societe Generale Eff  15.000   5/27/2022  EUR    60.990
Societe Generale Eff  13.000   7/22/2022  EUR    63.070
Societe Generale Eff  12.250   8/26/2022  EUR    63.900
DZ Bank AG Deutsche   15.750   5/25/2022  EUR    64.090
DZ Bank AG Deutsche   15.750   6/22/2022  EUR    73.690
DZ Bank AG Deutsche    7.250   9/21/2022  EUR    73.820
DZ Bank AG Deutsche    6.250  12/21/2022  EUR    74.180
DZ Bank AG Deutsche    5.500   3/22/2023  EUR    73.820
Leonteq Securities A  21.600   12/06/2022 CHF    40.920
Leonteq Securities A  22.800   12/06/2022 CHF    53.530
Leonteq Securities A   8.800   12/07/2023 CHF    76.400
Credit Suisse AG/Lon  13.500  11/28/2022  CHF    35.730
Credit Suisse AG/Lon  15.000  11/29/2022  USD    36.360
Bank Vontobel AG       9.000   2/21/2023  CHF    66.200
Bank Vontobel AG      12.250  11/28/2022  CHF    58.100
Bank Vontobel AG       7.000   5/26/2023  EUR    71.100
DZ Bank AG Deutsche    6.750  12/21/2022  EUR    76.940
Raiffeisen Schweiz G   8.200   12/06/2023 CHF    76.230
Raiffeisen Switzerla  19.000   12/06/2022 CHF    52.210
Leonteq Securities A  22.200   12/07/2022 CHF    48.530
Sberbank of Russia P   0.010   12/07/2026 RUB    61.200
DZ Bank AG Deutsche   16.800   9/23/2022  EUR    72.530
DZ Bank AG Deutsche   16.700  12/23/2022  EUR    55.020
DZ Bank AG Deutsche   16.800   9/23/2022  EUR    76.980
DZ Bank AG Deutsche   19.100  12/23/2022  EUR    67.820
DZ Bank AG Deutsche   20.500   9/23/2022  EUR    71.110
DZ Bank AG Deutsche   17.300  12/23/2022  EUR    73.640
Sberbank of Russia P   0.010   12/07/2026 RUB    59.000
Ebis OOO              14.500  11/25/2025  RUB    70.000
SG Issuer SA           2.100  12/27/2033  EUR    63.370
DZ Bank AG Deutsche   23.900   6/24/2022  EUR    61.400
Societe Generale Eff  13.500   9/23/2022  EUR    60.420
DZ Bank AG Deutsche   17.700  12/23/2022  EUR    36.210
DZ Bank AG Deutsche   13.500   3/24/2023  EUR    38.610
DZ Bank AG Deutsche   18.300  12/23/2022  EUR    75.170
DZ Bank AG Deutsche   20.200   6/24/2022  EUR    75.940
DZ Bank AG Deutsche   10.500  12/23/2022  EUR    64.310
DZ Bank AG Deutsche   12.000   3/24/2023  EUR    63.440
DZ Bank AG Deutsche   10.000   3/24/2023  EUR    75.440
UniCredit Bank AG      6.300  12/21/2022  EUR    51.570
Societe Generale Eff   5.500  10/28/2022  EUR    73.160
DZ Bank AG Deutsche   18.500  11/25/2022  EUR    35.330
DZ Bank AG Deutsche   14.200   9/23/2022  EUR    74.240
DZ Bank AG Deutsche   21.600   6/24/2022  EUR    56.100
Bank Vontobel AG       7.750   2/20/2023  CHF    73.600
Bank Vontobel AG      20.000  11/21/2022  CHF    54.300
Bank Vontobel AG      10.750   5/22/2023  CHF    64.000
Societe Generale Eff  15.000   7/22/2022  EUR    77.700
DZ Bank AG Deutsche   18.800   9/23/2022  EUR    65.350
DZ Bank AG Deutsche   11.500  11/25/2022  EUR    70.830
DZ Bank AG Deutsche    8.300   3/24/2023  EUR    74.170
DZ Bank AG Deutsche   12.500   3/24/2023  EUR    73.690
DZ Bank AG Deutsche   15.700  11/25/2022  EUR    35.760
DZ Bank AG Deutsche   16.700   9/23/2022  EUR    59.580
DZ Bank AG Deutsche   14.100  12/23/2022  EUR    62.000
DZ Bank AG Deutsche   11.800   3/24/2023  EUR    70.600
DZ Bank AG Deutsche   10.100   3/24/2023  EUR    73.980
DZ Bank AG Deutsche   15.800  12/23/2022  EUR    67.900
DZ Bank AG Deutsche   19.100   6/24/2022  EUR    63.820
Societe Generale Eff   7.500  10/28/2022  EUR    70.230
Societe Generale Eff   8.500  10/28/2022  EUR    69.090
DZ Bank AG Deutsche   18.700   6/24/2022  EUR    71.380
DZ Bank AG Deutsche   24.700   6/24/2022  EUR    73.050
DZ Bank AG Deutsche   10.900  11/25/2022  EUR    63.800
DZ Bank AG Deutsche    6.700   3/24/2023  EUR    68.460
DZ Bank AG Deutsche   10.000   3/24/2023  EUR    72.240
Leonteq Securities A  15.000   2/24/2023  USD    69.170
DZ Bank AG Deutsche   15.600   9/23/2022  EUR    67.240
DZ Bank AG Deutsche    9.100   3/24/2023  EUR    65.370
DZ Bank AG Deutsche   13.700   3/24/2023  EUR    69.330
DZ Bank AG Deutsche   12.100  11/25/2022  EUR    72.020
Bank Vontobel AG      14.000   5/22/2023  CHF    64.700
Leonteq Securities A  14.000   2/23/2023  CHF    67.340
Societe Generale Eff  14.000   6/24/2022  EUR    59.340
DZ Bank AG Deutsche   14.000  11/25/2022  EUR    68.880
DZ Bank AG Deutsche   13.400  12/23/2022  EUR    69.480
DZ Bank AG Deutsche   14.600   6/24/2022  EUR    66.760
Societe Generale Eff   9.500   8/26/2022  EUR    67.770
Societe Generale Eff   6.500  10/28/2022  EUR    71.540
DZ Bank AG Deutsche   20.400  12/23/2022  EUR    36.220
DZ Bank AG Deutsche   15.600   3/24/2023  EUR    38.520
DZ Bank AG Deutsche   17.700   3/24/2023  EUR    38.700
DZ Bank AG Deutsche   16.300   3/24/2023  EUR    77.410
DZ Bank AG Deutsche   14.200   6/24/2022  EUR    59.730
DZ Bank AG Deutsche   11.800   9/23/2022  EUR    62.360
EFG International Fi   9.400  11/24/2022  CHF    69.740
Basler Kantonalbank   12.000  11/24/2022  CHF    67.830
Societe Generale Eff  10.250   7/22/2022  EUR    66.990
UBS AG/London         21.500  11/25/2022  USD    61.250
Bank Vontobel AG      20.500  11/21/2022  CHF    54.400
Bank Vontobel AG       8.000   5/22/2023  CHF    62.600
Bank Vontobel AG      18.000  11/21/2022  USD    51.000
Bank Vontobel AG      10.000  11/21/2022  CHF    46.300
Skandinaviska Enskil   9.020   7/17/2023  SEK    66.260
SecurAsset SA          5.250   6/30/2022  EUR    30.050
UBS AG/London         15.000  11/25/2022  USD    64.450
Landesbank Baden-Wue   3.000   6/24/2022  EUR    59.930
Landesbank Baden-Wue   3.000   4/25/2022  EUR    56.090
Societe Generale SA    6.000   05/09/2022 USD     0.190
Bank Julius Baer & C  14.500  10/26/2022  EUR    67.850
Leonteq Securities A  20.400  10/26/2022  CHF    35.540
Leonteq Securities A  22.200  10/26/2022  CHF    66.510
UBS AG/London         10.250   08/04/2023 CHF    76.250
Raiffeisen Schweiz G  18.000  10/25/2022  CHF    52.550
Raiffeisen Schweiz G   8.000   7/25/2023  CHF    64.260
Raiffeisen Schweiz G  10.000   4/25/2023  CHF    42.920
Vontobel Financial P   9.250  12/23/2022  EUR    55.610
DZ Bank AG Deutsche    9.600   6/24/2022  EUR    74.650
DZ Bank AG Deutsche   12.200   6/24/2022  EUR    71.260
DZ Bank AG Deutsche   15.300   6/24/2022  EUR    68.310
DZ Bank AG Deutsche    8.500   9/23/2022  EUR    76.060
DZ Bank AG Deutsche   10.500   9/23/2022  EUR    73.340
DZ Bank AG Deutsche   12.800   9/23/2022  EUR    71.000
DZ Bank AG Deutsche   10.100  10/28/2022  EUR    73.940
DZ Bank AG Deutsche    9.600  12/23/2022  EUR    74.760
DZ Bank AG Deutsche   12.200  10/28/2022  EUR    71.790
DZ Bank AG Deutsche    8.000  12/23/2022  EUR    76.980
DZ Bank AG Deutsche   11.300  12/23/2022  EUR    72.790
DZ Bank AG Deutsche   16.600   9/23/2022  EUR    37.890
DZ Bank AG Deutsche   18.800  10/28/2022  EUR    38.000
DZ Bank AG Deutsche   14.800  12/23/2022  EUR    40.710
DZ Bank AG Deutsche   17.300  12/23/2022  EUR    39.840
Vontobel Financial P   5.500  12/23/2022  EUR    74.350
Vontobel Financial P   8.250  12/23/2022  EUR    68.570
Vontobel Financial P   9.750  12/23/2022  EUR    74.670
Leonteq Securities A  14.000  10/28/2022  CHF    72.570
UniCredit Bank AG      7.250   12/09/2022 EUR    75.590
Bank Julius Baer & C  10.100  11/14/2022  USD    72.100
UBS AG/London          4.250   3/29/2023  EUR    71.750
UBS AG/London         10.750  10/20/2022  EUR    52.650
UBS AG/London         10.500   1/23/2023  CHF    39.200
Credit Suisse AG/Lon  11.500   8/25/2022  USD    31.780
Credit Suisse AG/Lon   7.500  11/28/2022  USD    70.330
Credit Suisse AG/Lon   8.500   6/30/2022  CHF    27.410
Credit Suisse AG/Lon   8.500   6/24/2022  CHF    27.080
Credit Suisse AG/Lon  15.000   6/27/2022  USD    28.760
Credit Suisse AG/Lon   7.000   9/28/2022  CHF    76.710
UBS AG/London         19.500   09/01/2022 USD    50.600
UBS AG/London          8.250   03/01/2023 CHF    55.100
UBS AG/London         10.500   2/27/2023  CHF    72.950
Credit Suisse AG/Lon  11.750   09/08/2022 USD    38.220
Credit Suisse AG/Lon   7.000   12/08/2022 CHF    70.310
Credit Suisse AG/Lon  10.500   09/12/2022 CHF    29.240
Credit Suisse AG/Lon   7.750  12/15/2022  CHF    72.220
Bank Vontobel AG       6.750   3/17/2023  CHF    69.600
Bank Vontobel AG       7.750   3/17/2023  CHF    72.700
Bank Vontobel AG       8.500   3/17/2023  CHF    43.200
Bank Vontobel AG      11.500   3/17/2023  CHF    61.400
Bank Vontobel AG      20.000  12/19/2022  CHF    44.000
Bank Vontobel AG      10.500  12/27/2022  CHF    47.400
Vontobel Financial P   8.500  12/23/2022  EUR    70.370
Vontobel Financial P   8.500  12/23/2022  EUR    44.760
UBS AG/London          8.250   6/30/2023  CHF    71.400
Vontobel Financial P   9.000  12/23/2022  EUR    73.010
UBS AG/London         14.500   6/30/2022  CHF    53.550
Vontobel Financial P  17.000  12/23/2022  EUR    66.560
Vontobel Financial P  16.000  12/23/2022  EUR    67.100
Vontobel Financial P  14.500  12/23/2022  EUR    53.710
Vontobel Financial P  12.000  12/23/2022  EUR    54.600
Vontobel Financial P  15.000  12/23/2022  EUR    72.890
Vontobel Financial P  10.000  12/23/2022  EUR    67.890
Vontobel Financial P  14.000  12/23/2022  EUR    65.870
Bank Vontobel AG       9.250   1/16/2023  CHF    67.400
Corner Banca SA       16.000   4/29/2022  CHF    55.880
Bank Vontobel AG      13.259   7/29/2022  CHF    32.800
Banque Cantonale Vau  22.200   08/02/2022 CHF    71.580
Societe Generale Eff   4.750  10/28/2022  EUR    76.650
Leonteq Securities A  20.000   11/08/2022 USD    66.510
Leonteq Securities A  13.000   11/08/2022 CHF    53.020
Raiffeisen Schweiz G  16.000  11/29/2022  CHF    58.440
Raiffeisen Schweiz G   9.000   2/28/2023  CHF    63.100
Raiffeisen Schweiz G   6.600  11/29/2023  CHF    72.880
Bank Vontobel AG       6.500   2/20/2023  CHF    34.400
Bank Vontobel AG       9.000  11/20/2023  EUR    70.600
Bank Vontobel AG       7.500   5/26/2023  CHF    67.500
Bank Vontobel AG      12.500   2/27/2023  CHF    39.700
Bank Vontobel AG      24.000  11/28/2022  CHF    46.100
Bank Vontobel AG      12.000  11/28/2022  CHF    61.400
EFG International Fi  14.600  11/29/2022  USD    66.590
DZ Bank AG Deutsche    8.000   6/22/2022  EUR    72.170
DZ Bank AG Deutsche   12.000  12/21/2022  EUR    70.490
DZ Bank AG Deutsche   14.750  12/21/2022  EUR    72.180
DZ Bank AG Deutsche   11.000   9/21/2022  EUR    69.600
DZ Bank AG Deutsche    8.000  12/21/2022  EUR    72.170
DZ Bank AG Deutsche    5.250   3/22/2023  EUR    75.190
DZ Bank AG Deutsche    6.250  12/21/2022  EUR    76.460
DZ Bank AG Deutsche    7.500   9/21/2022  EUR    73.880
DZ Bank AG Deutsche    6.000  12/21/2022  EUR    74.610
Landesbank Baden-Wue   6.150   3/24/2023  EUR    77.530
Landesbank Baden-Wue   3.500   3/24/2023  EUR    48.680
Landesbank Baden-Wue   6.200   3/24/2023  EUR    42.170
Landesbank Baden-Wue   8.650   3/24/2023  EUR    39.470
Landesbank Baden-Wue   3.350   3/24/2023  EUR    71.130
Landesbank Baden-Wue   8.900   3/24/2023  EUR    71.170
Landesbank Baden-Wue   3.650   3/24/2023  EUR    62.730
Landesbank Baden-Wue   6.200   3/24/2023  EUR    58.450
Leonteq Securities A  12.000   9/30/2022  CHF    71.930
Vontobel Financial P  18.500   9/23/2022  EUR    66.790
Vontobel Financial P  16.750   9/23/2022  EUR    50.270
Vontobel Financial P  13.250   9/23/2022  EUR    75.910
Vontobel Financial P  15.000   9/23/2022  EUR    63.870
Vontobel Financial P   9.000   9/23/2022  EUR    66.080
Vontobel Financial P  16.500   9/23/2022  EUR    63.280
DekaBank Deutsche Gi   4.790   9/23/2022  EUR    64.420
Sberbank of Russia P   0.010   10/03/2028 RUB    58.600
Luzerner Kantonalban  23.100   8/15/2022  CHF    47.920
Leonteq Securities A  18.500  11/29/2022  CHF    58.960
Leonteq Securities A  25.000  11/29/2022  CHF    63.110
Leonteq Securities A  10.800   5/26/2023  EUR    58.410
Corner Banca SA       10.000  11/29/2022  EUR    70.800
Leonteq Securities A  17.600   5/30/2023  USD    62.540
Leonteq Securities A  10.800   5/26/2023  CHF    68.140
Leonteq Securities A  10.800   5/26/2023  EUR    70.740
Corner Banca SA       13.200  11/29/2022  CHF    64.740
Leonteq Securities A  12.800  11/29/2022  CHF    48.330
Leonteq Securities A   7.800  11/29/2023  CHF    71.700
Corner Banca SA       11.000  11/29/2022  CHF    35.700
Leonteq Securities A   8.000   03/01/2023 CHF    68.160
Corner Banca SA       12.000  11/29/2022  USD    50.250
Leonteq Securities A  10.000  11/29/2022  CHF    59.980
Leonteq Securities A  11.000   5/30/2023  USD    59.410
Leonteq Securities A  10.000  11/29/2022  CHF    66.890
Raiffeisen Schweiz G   9.000   5/26/2023  USD    63.030
Raiffeisen Schweiz G   7.000  11/29/2023  CHF    75.670
Bank Vontobel AG       9.000  11/20/2023  CHF    43.000
Bank Vontobel AG       8.000  11/27/2023  EUR    54.400
Bank Vontobel AG      21.750   5/26/2023  CHF    49.300
Bank Vontobel AG       7.250   2/27/2023  CHF    71.800
Bank Vontobel AG       9.000   5/26/2023  EUR    70.000
Bank Vontobel AG      18.250   5/26/2023  EUR    41.600
Bank Vontobel AG       9.500   3/31/2023  EUR    71.700
Bank Vontobel AG      14.250   11/07/2022 CHF    39.800
Leonteq Securities A  15.000   11/08/2022 CHF    36.990
Leonteq Securities A  14.000   02/08/2023 USD    49.170
Sberbank of Russia P   0.010  10/21/2026  RUB    60.200
EFG International Fi  18.000  10/20/2022  CHF    52.530
Vontobel Financial P   8.500  12/23/2022  EUR    70.440
Vontobel Financial P   5.500  12/23/2022  EUR    65.110
Vontobel Financial P   7.000  12/23/2022  EUR    69.030
Vontobel Financial P  20.000   9/23/2022  EUR    66.990
Vontobel Financial P  13.000  12/23/2022  EUR    66.550
Vontobel Financial P  13.500   9/23/2022  EUR    64.330
Vontobel Financial P  21.000  12/23/2022  EUR    74.430
Vontobel Financial P   8.000  12/23/2022  EUR    71.060
Vontobel Financial P  18.500  12/23/2022  EUR    75.950
Vontobel Financial P  17.500   9/23/2022  EUR    71.800
Vontobel Financial P  12.500   9/23/2022  EUR    77.300
UBS AG/London         18.500   06/08/2023 USD    58.100
Vontobel Financial P  15.500  12/23/2022  EUR    65.440
Vontobel Financial P  15.500   9/23/2022  EUR    72.310
Vontobel Financial P   4.500  12/23/2022  EUR    74.390
Vontobel Financial P   3.000  12/23/2022  EUR    76.850
Vontobel Financial P   3.000   9/23/2022  EUR    76.550
Vontobel Financial P   4.900   7/13/2023  EUR    67.750
Societe Generale Eff  18.250   7/22/2022  EUR    74.240
Societe Generale Eff  16.750   8/26/2022  EUR    75.300
Societe Generale Eff  25.250   7/22/2022  EUR    42.910
Societe Generale Eff   9.000   8/26/2022  EUR    58.480
Societe Generale Eff  23.000   8/26/2022  EUR    44.500
Societe Generale Eff   7.500   9/23/2022  EUR    61.500
Societe Generale Eff   6.000  12/23/2022  EUR    66.180
EFG International Fi  17.400   06/10/2022 USD    70.900
EFG International Fi   7.000   06/09/2023 CHF    71.470
EFG International Fi  10.000   12/09/2022 USD    43.550
Leonteq Securities A  21.880   06/10/2022 CHF    62.930
Leonteq Securities A  21.760   06/10/2022 CHF    27.840
BNP Paribas Emission   3.000   6/23/2022  EUR    75.440
BNP Paribas Emission   3.000   6/23/2022  EUR    73.780
BNP Paribas Emission   3.000  12/22/2022  EUR    76.270
BNP Paribas Emission   4.000  12/22/2022  EUR    74.820
BNP Paribas Emission   4.000   3/23/2023  EUR    75.020
Zurcher Kantonalbank   8.100  12/14/2022  USD    45.910
DZ Bank AG Deutsche   10.000  12/23/2022  EUR    49.880
DZ Bank AG Deutsche   12.200   9/23/2022  EUR    59.290
DZ Bank AG Deutsche    9.400   9/23/2022  EUR    68.850
DZ Bank AG Deutsche   11.700   9/23/2022  EUR    65.740
DZ Bank AG Deutsche   10.800   9/23/2022  EUR    70.960
DZ Bank AG Deutsche   13.800   6/24/2022  EUR    72.640
DZ Bank AG Deutsche   13.400   9/23/2022  EUR    61.140
Societe Generale Eff   9.500   6/24/2022  EUR    74.600
DZ Bank AG Deutsche    8.100  12/19/2022  EUR    76.110
DZ Bank AG Deutsche    7.600   3/20/2023  EUR    76.330
Bank Julius Baer & C   9.150   6/13/2022  USD    68.400
DZ Bank AG Deutsche    5.000  12/19/2022  EUR    67.690
DZ Bank AG Deutsche    9.500  12/19/2022  EUR    76.540
DZ Bank AG Deutsche    8.500  12/19/2022  EUR    69.950
DZ Bank AG Deutsche    6.750   3/20/2023  EUR    75.770
DZ Bank AG Deutsche    4.750   3/20/2023  EUR    77.480
Leonteq Securities A  10.000  12/14/2022  CHF    65.000
UBS AG/London          9.900   07/01/2024 EUR    57.680
Raiffeisen Centroban  11.750   08/04/2023 EUR    52.540
Landesbank Baden-Wue   6.000   1/27/2023  EUR    56.480
Raiffeisen Schweiz G   9.000   03/10/2023 USD    57.410
Raiffeisen Schweiz G  10.000   03/10/2023 CHF    62.190
Erste Group Bank AG    4.500   10/01/2025 EUR    65.500
Societe Generale Eff   9.750   7/22/2022  EUR    70.190
Bank Julius Baer & C   7.250   9/14/2022  CHF    65.700
UBS AG/London          4.520   09/07/2023 USD     9.273
Vontobel Financial P  14.000   9/23/2022  EUR    72.300
Vontobel Financial P  11.500   6/24/2022  EUR    68.970
Vontobel Financial P  18.500   6/24/2022  EUR    72.160
Vontobel Financial P  15.000   9/23/2022  EUR    67.100
Vontobel Financial P  14.000   6/24/2022  EUR    67.200
DZ Bank AG Deutsche   10.600   9/23/2022  EUR    67.980
DZ Bank AG Deutsche   13.600   9/23/2022  EUR    67.650
DZ Bank AG Deutsche   15.900   9/23/2022  EUR    66.630
DZ Bank AG Deutsche   19.000   9/23/2022  EUR    63.230
DZ Bank AG Deutsche   21.000   9/23/2022  EUR    60.450
DZ Bank AG Deutsche   17.500   6/24/2022  EUR    62.940
DZ Bank AG Deutsche   10.500   9/23/2022  EUR    65.260
DZ Bank AG Deutsche   17.600   9/23/2022  EUR    63.120
BNP Paribas Issuance   9.000   5/18/2022  SEK    63.720
Vontobel Financial P  12.500   6/24/2022  EUR    56.270
Bank Julius Baer & C  10.300   5/25/2022  CHF    72.600
Bank Julius Baer & C   6.300   5/25/2022  CHF    69.100
DZ Bank AG Deutsche   15.750   6/22/2022  EUR    62.400
Vontobel Financial P   9.000   6/24/2022  EUR    68.130
DZ Bank AG Deutsche    9.000   6/22/2022  EUR    59.380
Vontobel Financial P  12.500   6/24/2022  EUR    75.590
Bank Julius Baer & C  10.800   5/25/2022  USD    35.300
EFG International Fi   5.700   5/24/2023  USD    57.530
Zurcher Kantonalbank   9.500   06/07/2022 USD    70.530
Societe Generale Eff  10.250   5/27/2022  EUR    70.910
DZ Bank AG Deutsche   14.300   6/24/2022  EUR    58.600
DZ Bank AG Deutsche   17.200   6/24/2022  EUR    43.420
DZ Bank AG Deutsche    7.300   6/24/2022  EUR    68.710
DZ Bank AG Deutsche   14.000   6/24/2022  EUR    64.250
DZ Bank AG Deutsche   19.700   6/24/2022  EUR    66.040
DZ Bank AG Deutsche   22.000   6/24/2022  EUR    76.980
DZ Bank AG Deutsche    9.700   6/24/2022  EUR    60.910
Leonteq Securities A  23.000   09/09/2022 CHF    45.770
UniCredit Bank AG     10.300   9/27/2024  EUR    66.670
DekaBank Deutsche Gi   1.000   3/17/2025  EUR    66.770
Zurcher Kantonalbank  10.500   06/02/2022 CHF    61.260
EFG International Fi  11.000   09/10/2024 USD    66.810
Bank Vontobel AG       7.255  11/21/2022  CHF    68.300
DZ Bank AG Deutsche   20.200   6/24/2022  EUR    51.700
DZ Bank AG Deutsche    9.900   6/24/2022  EUR    67.170
DZ Bank AG Deutsche   15.500   6/24/2022  EUR    74.360
DZ Bank AG Deutsche    9.300   6/24/2022  EUR    78.750
DZ Bank AG Deutsche    8.900   6/24/2022  EUR    61.350
DZ Bank AG Deutsche   11.300   6/24/2022  EUR    55.390
DZ Bank AG Deutsche   19.900   6/24/2022  EUR    60.520
DZ Bank AG Deutsche   17.600   6/24/2022  EUR    65.490
Leonteq Securities A  22.000   09/09/2022 CHF    32.340
LLC Online Microfina  12.500   05/04/2024 RUB    73.940
Societe Generale Eff  16.750   6/24/2022  EUR    27.650
Societe Generale Eff  16.000   7/22/2022  EUR    28.690
Vontobel Financial P  18.000   9/23/2022  EUR    61.100
Vontobel Financial P  17.000   9/23/2022  EUR    62.980
Vontobel Financial P  14.000   9/23/2022  EUR    46.780
EFG International Fi  15.000   5/27/2022  CHF    71.440
UBS AG/London         10.250   5/30/2023  CHF    51.150
UBS AG/London          9.750  11/28/2022  EUR    73.000
UBS AG/London          8.250   5/27/2022  CHF    30.800
Leonteq Securities A  15.000   9/13/2022  CHF    41.170
Leonteq Securities A   9.000   03/10/2023 CHF    64.560
Leonteq Securities A   7.000   9/13/2023  CHF    77.010
Corner Banca SA       20.000   9/13/2022  CHF    43.170
Leonteq Securities A  10.000  12/13/2022  USD    41.690
Societe Generale Eff  15.250   8/26/2022  EUR    30.080
Corner Banca SA       15.000   05/12/2022 CHF    49.630
Raiffeisen Switzerla  10.500   05/12/2022 CHF    59.180
UBS AG/London         14.750   2/17/2023  CHF    34.150
Vontobel Financial P   4.800   06/01/2022 EUR    66.400
DZ Bank AG Deutsche    7.500   9/19/2022  EUR    75.320
Leonteq Securities A  13.400   5/18/2022  CHF    58.040
EFG International Fi  12.000   12/09/2022 CHF    42.630
UBS AG/London         11.250   12/09/2022 CHF    36.550
UBS AG/London          8.000   06/09/2023 CHF    60.550
UBS AG/London          8.250   06/09/2023 CHF    68.000
UBS AG/London          6.000   06/09/2022 EUR    48.600
UBS AG/London         10.500   06/09/2023 CHF    59.650
Raiffeisen Schweiz G  15.000   06/07/2022 CHF    60.260
Raiffeisen Schweiz G   6.300   12/07/2022 CHF    77.000
BNP Paribas Emission   4.000   6/23/2022  EUR    77.320
BNP Paribas Emission   3.000   9/22/2022  EUR    76.380
BNP Paribas Emission   4.000   9/22/2022  EUR    74.490
BNP Paribas Emission   3.000   3/23/2023  EUR    75.730
BNP Paribas Emission   5.000   6/22/2023  EUR    73.840
DZ Bank AG Deutsche   13.800   9/23/2022  EUR    69.740
DZ Bank AG Deutsche   12.800   6/24/2022  EUR    68.490
DZ Bank AG Deutsche   10.300   9/23/2022  EUR    64.460
DZ Bank AG Deutsche   11.900   9/23/2022  EUR    62.730
Societe Generale Eff   5.500   5/27/2022  EUR    68.990
Bank Julius Baer & C   9.400   09/12/2022 EUR    67.550
DZ Bank AG Deutsche    6.250  12/19/2022  EUR    72.730
DZ Bank AG Deutsche    8.250  12/19/2022  EUR    74.360
EFG International Fi  17.000   6/30/2022  CHF    35.010
EFG International Fi  10.010   6/30/2022  EUR    33.320
Landesbank Baden-Wue   6.200   1/27/2023  EUR    74.620
Landesbank Baden-Wue   5.100   1/27/2023  EUR    69.760
Societe Generale Eff   7.500   5/27/2022  EUR    62.460
Societe Generale Eff   9.500   5/27/2022  EUR    58.850
Societe Generale Eff   5.000   6/24/2022  EUR    76.760
Societe Generale Eff   7.000   6/24/2022  EUR    71.200
Societe Generale Eff   9.000   6/24/2022  EUR    67.110
Zurcher Kantonalbank   7.500   01/10/2023 CHF    65.370
Leonteq Securities A  24.870   6/14/2022  CHF    20.210
Zurcher Kantonalbank  24.000   6/17/2022  CHF    48.430
Landesbank Baden-Wue  10.500   1/27/2023  EUR    68.430
Landesbank Baden-Wue   7.200   1/27/2023  EUR    69.100
Landesbank Baden-Wue  10.500   1/27/2023  EUR    49.860
Landesbank Baden-Wue   7.000   1/27/2023  EUR    74.060
Societe Generale Eff   6.000   6/24/2022  EUR    73.740
Societe Generale Eff   8.000   6/24/2022  EUR    68.950
DekaBank Deutsche Gi   3.400   7/19/2024  EUR    69.420
Landesbank Baden-Wue   2.100  11/24/2023  EUR    75.930
Zurcher Kantonalbank   7.000   01/10/2023 CHF    65.840
Vontobel Financial P   7.500   6/24/2022  EUR    60.680
Vontobel Financial P  12.000   6/24/2022  EUR    54.670
Vontobel Financial P  14.500   6/24/2022  EUR    52.200
Vontobel Financial P  12.000   6/24/2022  EUR    43.480
Vontobel Financial P  16.000   6/24/2022  EUR    51.180
Vontobel Financial P  17.000   6/24/2022  EUR    39.980
Vontobel Financial P  13.500   6/24/2022  EUR    42.180
Vontobel Financial P  11.000   6/24/2022  EUR    67.160
Leonteq Securities A  14.000   1/17/2023  CHF    71.590
Leonteq Securities A  15.740   08/10/2022 USD    31.190
Sberbank of Russia P   0.010   5/23/2028  RUB    68.900
Vontobel Financial P   8.500   5/25/2022  USD    36.710
Vontobel Financial P  10.000   6/24/2022  EUR    59.270
Vontobel Financial P  15.000   6/24/2022  EUR    53.670
Vontobel Financial P   8.000   6/24/2022  EUR    62.770
Vontobel Financial P  19.500   6/24/2022  EUR    76.210
Bank Vontobel AG      18.006   5/24/2023  EUR    57.800
Raiffeisen Schweiz G   8.000  11/21/2022  CHF    69.360
Vontobel Financial P   9.000   6/24/2022  EUR    57.770
Vontobel Financial P  10.250   6/24/2022  EUR    64.140
Vontobel Financial P   6.500   6/24/2022  EUR    74.460
DZ Bank AG Deutsche    7.000   6/22/2022  EUR    59.520
Zurcher Kantonalbank  11.000   06/07/2022 USD    72.900
Zurcher Kantonalbank  17.000   06/07/2022 USD    62.880
Societe Generale Eff  14.250   9/23/2022  EUR    30.720
Societe Generale Eff   8.250   5/27/2022  EUR    74.780
Zurcher Kantonalbank  24.500   06/02/2022 CHF    55.620
Bank Vontobel AG       6.502   5/23/2023  CHF    70.200
DZ Bank AG Deutsche   13.500   6/24/2022  EUR    70.940
DZ Bank AG Deutsche   13.200   6/24/2022  EUR    76.660
DZ Bank AG Deutsche   11.300   6/24/2022  EUR    76.300
DZ Bank AG Deutsche   20.200   6/24/2022  EUR    71.030
DZ Bank AG Deutsche   13.000   6/24/2022  EUR    69.420
DZ Bank AG Deutsche   18.400   6/24/2022  EUR    30.840
DZ Bank AG Deutsche   13.300   6/24/2022  EUR    56.060
DZ Bank AG Deutsche   16.200   6/24/2022  EUR    50.200
Vontobel Financial P   4.100  12/16/2022  EUR    71.810
Credit Suisse AG/Lon  10.000   8/26/2022  EUR    78.580
UBS AG/London         11.750  11/28/2022  CHF    41.400
UBS AG/London          8.500   5/27/2022  CHF    62.650
UBS AG/London          9.000   5/30/2023  CHF    71.050
UBS AG/London          8.500  11/28/2022  EUR    55.150
UBS AG/London         12.000  11/28/2022  CHF    73.850
Corner Banca SA       14.600  12/13/2022  CHF    42.170
Corner Banca SA       17.000  12/13/2022  USD    52.110
Leonteq Securities A  10.000   03/10/2023 CHF    35.390
Leonteq Securities A  18.000   9/13/2022  USD    46.760
Basler Kantonalbank    8.000  11/28/2022  CHF    72.180
Societe Generale Eff   5.250   8/26/2022  EUR    43.910
Societe Generale Eff  10.000   6/24/2022  EUR    73.250
Societe Generale Eff   9.500   7/22/2022  EUR    73.960
APRI Fly Planing OOO  13.000   09/02/2025 RUB    63.200
Bank Vontobel AG       7.754   5/24/2023  EUR    68.600
DZ Bank AG Deutsche    3.000  12/23/2022  EUR    47.940
DZ Bank AG Deutsche    7.000  12/23/2022  EUR    38.230
Bank Vontobel AG      21.502   05/12/2022 CHF    34.000
Leonteq Securities A  10.000   08/12/2022 CHF    67.750
Leonteq Securities A  10.000   08/12/2022 CHF    59.040
Leonteq Securities A  12.400   05/12/2022 CHF    49.680
Vontobel Financial P   9.750   9/23/2022  EUR    73.520
Landesbank Baden-Wue   4.550   5/27/2022  EUR    47.580
Landesbank Baden-Wue   3.500   5/27/2022  EUR    65.600
Leonteq Securities A  10.000   1/18/2023  USD    42.260
Landesbank Baden-Wue   3.550   6/24/2022  EUR    68.220
Landesbank Baden-Wue   2.050   6/24/2022  EUR    68.830
Raiffeisen Centroban  10.429   3/22/2023  EUR    59.670
Raiffeisen Centroban   7.648   3/22/2023  EUR    56.900
Leonteq Securities A  14.200   09/01/2022 CHF    58.960
Goldman Sachs & Co W  17.000   6/22/2022  EUR    75.350
DZ Bank AG Deutsche    9.270   6/24/2022  EUR    45.270
Leonteq Securities A  21.600  10/18/2022  CHF    38.680
Sberbank of Russia P   0.010   5/25/2026  RUB    70.400
Bank Julius Baer & C   8.800   5/19/2022  EUR    64.750
DZ Bank AG Deutsche   10.750   9/21/2022  EUR    61.240
Societe Generale Eff  16.250   8/26/2022  EUR    74.610
BNP Paribas Emission   6.150   6/23/2022  EUR    71.300
Societe Generale Eff  13.750   5/27/2022  EUR    34.690
DZ Bank AG Deutsche    5.700   6/20/2022  EUR    74.010
DZ Bank AG Deutsche    5.000   9/19/2022  EUR    75.050
Raiffeisen Schweiz G   7.000   03/10/2023 CHF    66.850
Raiffeisen Switzerla  12.500   9/13/2022  CHF    71.090
DZ Bank AG Deutsche   15.750   9/21/2022  EUR    57.970
DZ Bank AG Deutsche    5.750   6/22/2022  EUR    73.180
Bank Julius Baer & C  13.500   9/14/2022  CHF    31.600
DZ Bank AG Deutsche    5.250   6/22/2022  EUR    73.160
DZ Bank AG Deutsche    5.250   9/21/2022  EUR    68.360
Bank Julius Baer & C   6.000   9/14/2022  CHF    57.050
Bank Julius Baer & C   5.350   9/14/2022  CHF    79.100
Leonteq Securities A  24.040   9/14/2022  CHF    68.930
Leonteq Securities A  20.410   9/14/2022  CHF    25.780
Vontobel Financial P  16.500   9/23/2022  EUR    74.030
Vontobel Financial P  15.000   9/23/2022  EUR    75.030
Goldman Sachs & Co W   7.000  12/21/2022  EUR    76.660
Credit Suisse AG/Lon  10.000   5/30/2022  CHF    31.800
BNP Paribas Issuance   3.300   5/23/2022  EUR    44.500
Raiffeisen Schweiz G  16.200   9/14/2022  CHF    42.040
Raiffeisen Switzerla  10.000   03/10/2023 EUR    33.540
Bank Vontobel AG      16.000   05/12/2022 CHF    24.400
BNP Paribas Emission   8.000   9/22/2022  EUR    66.050
Corner Banca SA        8.000   9/26/2022  CHF    83.290
DZ Bank AG Deutsche    8.250   6/22/2022  EUR    59.270
DZ Bank AG Deutsche    7.250   6/22/2022  EUR    59.560
DZ Bank AG Deutsche    6.500   6/22/2022  EUR    59.190
DZ Bank AG Deutsche    6.500   6/22/2022  EUR    60.430
DZ Bank AG Deutsche    5.500   6/22/2022  EUR    64.050
Sberbank of Russia P   0.010   3/25/2026  RUB    55.400
Vontobel Financial P  17.750   3/29/2023  EUR    70.760
UniCredit Bank AG      9.900  10/20/2022  EUR    63.100
Credit Suisse AG/Lon   6.900   3/20/2023  USD     1.440
EFG International Fi  10.000   9/26/2022  CHF    65.980
UBS AG/London          9.750   9/26/2022  CHF    60.450
Sberbank of Russia P   0.010   3/25/2026  RUB    67.800
Sberbank of Russia P   0.010   3/27/2028  RUB    55.800
BNP Paribas Emission   6.000   9/22/2022  EUR    71.150
Leonteq Securities A  10.000   6/29/2022  CHF    57.900
Corner Banca SA       14.000   9/26/2022  USD    43.520
DZ Bank AG Deutsche    7.000   6/22/2022  EUR    65.200
DZ Bank AG Deutsche    9.500   6/22/2022  EUR    70.520
DZ Bank AG Deutsche    8.000   6/22/2022  EUR    56.260
DZ Bank AG Deutsche    7.750   6/22/2022  EUR    57.370
Landesbank Baden-Wue   8.900  10/28/2022  EUR    75.820
UBS AG/London         10.000   3/23/2026  USD    44.290
Bank Julius Baer & C   9.450   12/01/2022 EUR    72.650
Credit Suisse AG/Lon   8.500   06/08/2022 CHF    51.690
Credit Suisse AG/Lon  12.000   05/09/2022 USD    35.520
EFG International Fi   6.500   3/24/2023  USD    61.400
Landesbank Baden-Wue   4.000   6/27/2025  EUR    76.680
EFG International Fi  15.000   9/26/2022  CHF    50.380
UBS AG/London         12.750   9/26/2022  CHF    68.100
UBS AG/London         12.250   9/26/2022  EUR    79.450
UBS AG/London         26.250   9/26/2022  USD    38.950
Bank Julius Baer & C   5.750   6/27/2022  EUR    68.050
Vontobel Financial P  15.350   3/29/2023  EUR    70.400
Vontobel Financial P  13.950   05/05/2022 CHF    28.660
Leonteq Securities A  10.000   4/26/2022  EUR    72.670
Societe Generale Eff   5.000   5/27/2022  EUR    57.300
Societe Generale SA   24.000   11/08/2024 USD    66.750
Bank Julius Baer & C  17.200   02/06/2023 USD    53.900
Sberbank of Russia P   0.010  10/23/2026  RUB    67.100
Zurcher Kantonalbank  10.000   02/03/2023 CHF    63.890
Sberbank of Russia P   0.010  10/23/2026  RUB    66.600
DZ Bank AG Deutsche   10.000   6/22/2022  EUR    59.540
Landesbank Baden-Wue   4.050  10/28/2022  EUR    75.800
Landesbank Baden-Wue   7.400  10/28/2022  EUR    66.110
Landesbank Baden-Wue   7.850  10/28/2022  EUR    42.990
Landesbank Baden-Wue   5.750  10/28/2022  EUR    39.040
Landesbank Baden-Wue   6.850  10/28/2022  EUR    73.640
Landesbank Baden-Wue   2.700  10/28/2022  EUR    73.730
Vontobel Financial P  16.700   05/06/2022 USD    56.560
Leonteq Securities A  24.000   11/04/2022 CHF    43.650
Leonteq Securities A  27.000   11/04/2022 CHF    62.560
Leonteq Securities A  15.200   4/29/2022  CHF    62.350
Bank Vontobel AG      16.500   01/03/2023 EUR    42.700
Bank Vontobel AG       8.500   11/03/2023 CHF    49.700
Bank Vontobel AG       8.000   02/06/2023 EUR    70.400
Vontobel Financial P  14.750   1/30/2023  EUR    69.930
Vontobel Financial P   5.500  12/23/2022  EUR    71.640
Vontobel Financial P   8.500  12/23/2022  EUR    68.930
Vontobel Financial P  13.000  12/23/2022  EUR    38.120
Vontobel Financial P  10.750  12/23/2022  EUR    57.090
Vontobel Financial P  13.000  12/23/2022  EUR    69.780
Vontobel Financial P  15.500  12/23/2022  EUR    38.720
Vontobel Financial P  18.500  12/23/2022  EUR    58.150
Societe Generale Eff   5.750   8/26/2022  EUR    72.430
Leonteq Securities A  22.820  11/25/2022  CHF    37.780
Leonteq Securities A  10.000  11/25/2022  CHF    37.440
Landesbank Baden-Wue   2.850   5/26/2023  EUR    67.350
Landesbank Baden-Wue   3.000   5/26/2023  EUR    75.140
Landesbank Baden-Wue   2.200   6/23/2023  EUR    77.830
Landesbank Baden-Wue   5.850   5/26/2023  EUR    75.170
Landesbank Baden-Wue   6.200   5/26/2023  EUR    45.510
Vontobel Financial P  17.750  12/23/2022  EUR    41.240
Societe Generale Eff   5.500  11/25/2022  EUR    72.980
Societe Generale Eff   6.500  11/25/2022  EUR    71.300
Societe Generale Eff   8.500  11/25/2022  EUR    68.900
Societe Generale Eff  10.750   6/24/2022  EUR    65.590
Societe Generale Eff   4.750  11/25/2022  EUR    47.230
Societe Generale Eff   8.750  11/25/2022  EUR    74.150
Societe Generale Eff   4.750  11/25/2022  EUR    76.410
Societe Generale Eff   6.750  11/25/2022  EUR    71.730
Societe Generale Eff   8.750  11/25/2022  EUR    68.630
Societe Generale Eff  10.750  11/25/2022  EUR    66.410
Societe Generale Eff   7.000  11/25/2022  EUR    76.700
Societe Generale Eff  10.000  11/25/2022  EUR    72.520
Societe Generale Eff  12.000  11/25/2022  EUR    70.370
Vontobel Financial P   8.500  12/23/2022  EUR    51.350
Raiffeisen Switzerla  11.750   10/06/2022 CHF    70.380
UBS AG/London          6.500   3/31/2023  USD    46.200
UBS AG/London         10.250   9/30/2022  CHF    70.200
UBS AG/London          9.500   9/30/2022  CHF    59.450
Vontobel Financial P  20.000   9/23/2022  EUR    66.790
Vontobel Financial P  23.000   9/23/2022  EUR    65.020
Vontobel Financial P  17.500   9/23/2022  EUR    69.080
DZ Bank AG Deutsche    9.500  12/21/2022  EUR    66.330
DZ Bank AG Deutsche    5.250  12/21/2022  EUR    75.320
DZ Bank AG Deutsche    9.250  10/26/2022  EUR    73.990
DZ Bank AG Deutsche    5.500  12/21/2022  EUR    75.430
DZ Bank AG Deutsche    6.000  12/21/2022  EUR    72.390
DZ Bank AG Deutsche    7.750  12/21/2022  EUR    73.530
DZ Bank AG Deutsche   11.500  12/21/2022  EUR    65.890
Societe Generale Eff  13.000   7/22/2022  EUR    71.940
Societe Generale Eff  12.250   8/26/2022  EUR    72.680
Societe Generale Eff   7.750   9/23/2022  EUR    42.190
Leonteq Securities A  29.500   9/27/2022  CHF    48.470
Vontobel Financial P  14.500   9/23/2022  EUR    71.510
Vontobel Financial P  12.000   9/23/2022  EUR    74.500
Vontobel Financial P  22.000   9/23/2022  EUR    58.110
Sberbank of Russia P   0.010   9/24/2026  RUB    62.900
Leonteq Securities A   8.000   9/27/2023  CHF    70.780
Leonteq Securities A  11.000  12/27/2022  CHF    70.250
Vontobel Financial P  20.500   9/23/2022  EUR    56.750
Vontobel Financial P  18.000   9/23/2022  EUR    58.510
Vontobel Financial P   8.500   9/23/2022  EUR    56.420
Leonteq Securities A  20.000   9/27/2022  USD    45.080
Vontobel Financial P   8.000   9/23/2022  EUR    74.370
Bank Julius Baer & C  16.000   9/23/2022  CHF    29.750
Leonteq Securities A  12.000  12/28/2022  CHF    68.410
Leonteq Securities A  14.000  12/27/2022  CHF    36.470
Vontobel Financial P  15.500   9/23/2022  EUR    60.530
Vontobel Financial P  11.500   9/23/2022  EUR    66.090
Vontobel Financial P  13.500   9/23/2022  EUR    63.130
Vontobel Financial P  10.500   9/23/2022  EUR    54.410
Vontobel Financial P  15.500   9/23/2022  EUR    51.640
Leonteq Securities A  12.000  12/28/2022  USD    42.360
Vontobel Financial P  11.000   9/23/2022  EUR    67.170
Leonteq Securities A  10.000   3/24/2023  USD    52.580
SG Issuer SA           7.740   7/20/2025  SEK    57.290
Danske Bank A/S        5.300   7/15/2023  SEK    40.830
Leonteq Securities A   4.000   08/10/2022 CHF    59.160
Landesbank Baden-Wue   3.150   3/24/2023  EUR    70.510
Raiffeisen Centroban   7.644   9/21/2022  EUR    71.720
Raiffeisen Centroban   8.918   9/21/2022  EUR    68.320
Leonteq Securities A  17.600   06/08/2022 USD    28.300
Landesbank Baden-Wue   6.000   3/24/2023  EUR    71.910
Bank Vontobel AG      10.506   8/19/2022  EUR    62.600
Bank Vontobel AG       7.756   8/19/2022  CHF    58.000
Bank Vontobel AG      12.008   8/19/2022  CHF    33.900
Corner Banca SA       11.000   5/19/2022  CHF    71.610
Leonteq Securities A  15.000   5/19/2022  CHF    26.300
Leonteq Securities A  12.400   8/19/2022  EUR    69.050
Leonteq Securities A  11.400   5/19/2022  CHF    58.000
Leonteq Securities A  16.000   5/19/2022  CHF    59.080
Raiffeisen Centroban  10.192   9/21/2022  EUR    65.800
Goldman Sachs & Co W   7.000   6/22/2022  EUR    69.800
Goldman Sachs & Co W   7.000   7/20/2022  EUR    70.340
Goldman Sachs & Co W   7.000   3/22/2023  EUR    73.230
Bank Vontobel AG      10.000   01/10/2023 EUR    60.500
BrokerCreditService    8.000   1/30/2024  USD    62.170
Sberbank of Russia P   0.010   11/05/2025 RUB    68.400
Societe Generale Eff   4.750   6/24/2022  EUR    44.320
Leonteq Securities A  10.000   02/06/2023 CHF    35.570
Vontobel Financial P   8.750   9/23/2022  EUR    41.930
Leonteq Securities A  13.000   08/09/2022 CHF    76.300
Vontobel Financial P  12.000   6/24/2022  EUR    47.580
Vontobel Financial P  13.000   6/24/2022  EUR    50.650
Vontobel Financial P  12.000   6/24/2022  EUR    41.930
Zurcher Kantonalbank   6.500   8/16/2022  CHF    69.180
Bank Vontobel AG      10.000   08/08/2022 CHF    26.400
Bank Vontobel AG       9.500   02/06/2023 CHF    65.400
Bank Vontobel AG      11.000   02/06/2023 EUR    34.400
Bank Vontobel AG       8.500   02/06/2023 EUR    75.900
Vontobel Financial P  20.000   6/24/2022  EUR    65.940
Vontobel Financial P  14.500   6/24/2022  EUR    38.670
Leonteq Securities A  22.130   07/08/2022 CHF    25.520
VTB Bank PJSC          0.010   11/03/2023 RUB    66.010
Corner Banca SA       11.200   10/12/2022 EUR    44.580
Corner Banca SA       10.000   10/12/2022 CHF    32.940
Goldman Sachs & Co W   6.000   6/21/2023  EUR    75.740
Goldman Sachs & Co W   6.000   6/21/2023  EUR    68.440
UniCredit Bank AG      4.400   04/12/2023 EUR    58.750
DZ Bank AG Deutsche    5.000  12/23/2022  EUR    45.670
UniCredit Bank AG      5.150   4/24/2023  EUR    60.890
Vontobel Financial P   9.250   6/24/2022  EUR    40.040
Societe Generale Eff   3.500   5/27/2022  EUR    49.290
Leonteq Securities A   8.000   01/12/2023 CHF    62.450
Leonteq Securities A  10.000   07/12/2022 CHF    57.330
Leonteq Securities A  10.000   01/12/2023 CHF    73.740
Leonteq Securities A  10.000   10/12/2022 CHF    56.250
Leonteq Securities A  10.000   07/06/2022 EUR    28.130
UniCredit Bank AG      3.600   09/02/2024 EUR    41.520
Leonteq Securities A  12.000   01/12/2023 CHF    34.550
Goldman Sachs & Co W   7.000   9/21/2022  EUR    71.480
Goldman Sachs & Co W   7.000  12/21/2022  EUR    69.830
Goldman Sachs & Co W   7.000  12/21/2022  EUR    69.790
Goldman Sachs & Co W   6.000  12/21/2022  EUR    72.510
Vontobel Financial P  14.000   6/24/2022  EUR    71.900
Goldman Sachs & Co W   5.000   9/21/2022  EUR    72.320
Sberbank of Russia P   0.010   11/06/2025 RUB    64.700
Corner Banca SA       14.000   05/09/2022 CHF    32.360
Leonteq Securities A  11.200   02/06/2023 CHF    43.680
Leonteq Securities A  18.000   08/09/2022 USD    40.140
Leonteq Securities A  13.000   02/06/2023 USD    50.740
Leonteq Securities A  10.000   02/06/2023 CHF    49.640
Leonteq Securities A   8.000   02/06/2023 USD    71.410
Zurcher Kantonalbank   6.000   2/13/2023  CHF    71.980
Vontobel Financial P  12.500   9/23/2022  EUR    67.780
Vontobel Financial P  13.500   9/23/2022  EUR    51.950
Vontobel Financial P  16.000   6/24/2022  EUR    48.710
Vontobel Financial P  13.000   9/23/2022  EUR    42.810
Vontobel Financial P  16.000   6/24/2022  EUR    39.810
Bank Julius Baer & C  17.000   05/09/2022 CHF    59.900
Leonteq Securities A  10.000   01/09/2023 EUR    76.260
UniCredit Bank AG      6.750   08/03/2022 EUR    79.550
Goldman Sachs & Co W   7.000   5/25/2022  EUR    71.260
Goldman Sachs & Co W   7.000   6/21/2023  EUR    72.020
Vontobel Financial P   6.250   6/24/2022  EUR    71.740
Goldman Sachs & Co W   7.000   7/20/2022  EUR    76.310
BrokerCreditService    3.500   4/30/2024  USD    53.000
Goldman Sachs & Co W   8.000   7/20/2022  EUR    67.160
Bank Vontobel AG       8.000   01/10/2023 CHF    64.900
Bank Vontobel AG       8.000   01/10/2023 CHF    64.900
Leonteq Securities A  22.810   08/09/2022 CHF    32.060
Goldman Sachs & Co W   7.000   8/24/2022  EUR    72.920
Goldman Sachs & Co W   7.000   5/25/2022  EUR    75.270
Goldman Sachs & Co W   7.000   6/22/2022  EUR    75.810
Goldman Sachs & Co W   7.000   6/21/2023  EUR    75.020
Bank Vontobel AG      11.000   01/10/2023 CHF    71.300
Vontobel Financial P  16.500   6/24/2022  EUR    52.690
Goldman Sachs & Co W   6.000   3/22/2023  EUR    75.620
Goldman Sachs & Co W   7.000   9/21/2022  EUR    77.410
Goldman Sachs & Co W   7.000   3/22/2023  EUR    75.610
Goldman Sachs & Co W   8.000   8/24/2022  EUR    69.810
Goldman Sachs & Co W   8.000   6/21/2023  EUR    70.280
Sberbank of Russia P   0.010   11/05/2025 RUB    64.700
Leonteq Securities A  10.000   07/06/2022 EUR    42.350
Skandinaviska Enskil   6.800   1/15/2024  SEK    75.320
Leonteq Securities A   9.000   01/12/2023 USD    47.770
Vontobel Financial P  13.000   6/24/2022  EUR    70.770
Vontobel Financial P  13.500   6/24/2022  EUR    77.540
Vontobel Financial P  15.500   6/24/2022  EUR    75.440
Vontobel Financial P  13.000   6/24/2022  EUR    39.800
Vontobel Financial P  17.500   6/24/2022  EUR    68.790
Vontobel Financial P   8.000   6/24/2022  EUR    43.820
Vontobel Financial P   9.500   6/24/2022  EUR    42.320
EFG International Fi   8.700   7/13/2023  EUR    38.690
Vontobel Financial P  12.250   6/24/2022  EUR    75.030
Citigroup Global Mar   8.200   3/21/2024  SEK    66.560
Sberbank of Russia P   0.010  11/20/2025  RUB    68.400
Mostotrest PJSC        0.010   7/29/2026  RUB    49.400
UBS AG/London         13.500   5/18/2022  CHF    24.420
UBS AG/London         12.250  11/18/2022  EUR    35.150
UBS AG/London         12.750   5/18/2022  CHF    64.500
Landesbank Baden-Wue   2.200   1/27/2023  EUR    29.510
DekaBank Deutsche Gi   3.250   08/11/2023 EUR    71.770
DekaBank Deutsche Gi   2.800  10/20/2023  EUR    52.740
EFG International Fi   4.670  11/23/2022  EUR    71.500
Zurcher Kantonalbank  10.750   7/15/2022  EUR    41.890
Leonteq Securities A  10.000   07/12/2023 CHF    61.990
Vontobel Financial P  16.500   6/24/2022  EUR    67.720
Vontobel Financial P  11.500   6/24/2022  EUR    79.810
Landesbank Baden-Wue   2.500   6/24/2022  EUR    65.170
Bank Julius Baer & C   7.950   10/11/2022 EUR    73.600
EFG International Fi   9.430   7/19/2022  USD    50.870
EFG International Fi  10.210   7/19/2022  USD    44.930
Vontobel Financial P  14.500   6/24/2022  EUR    69.160
Vontobel Financial P  12.500   6/24/2022  EUR    75.370
Vontobel Financial P  10.500   6/24/2022  EUR    79.070
Vontobel Financial P  15.000   6/24/2022  EUR    71.940
Vontobel Financial P  11.000   6/24/2022  EUR    40.960
Zurcher Kantonalbank   4.750   7/15/2022  CHF    64.550
Landesbank Baden-Wue   3.100   3/24/2023  EUR    77.700
Vontobel Financial P  16.450   03/03/2023 EUR    65.460
DekaBank Deutsche Gi   3.250  11/25/2022  EUR    54.290
Leonteq Securities A  16.400   06/02/2022 CHF    28.100
Landesbank Baden-Wue   4.550   3/24/2023  EUR    76.130
DekaBank Deutsche Gi   3.200   9/23/2022  EUR    65.950
DekaBank Deutsche Gi   3.500   7/22/2022  EUR    68.420
SG Issuer SA           8.700   1/20/2025  SEK    49.190
Nordea Bank Abp        9.000   1/20/2025  SEK    72.900
DekaBank Deutsche Gi   3.900   4/25/2022  EUR    37.640
Landesbank Baden-Wue   2.650   6/24/2022  EUR    73.810
Societe Generale Eff   6.100   04/03/2023 EUR    64.470
Societe Generale Eff   7.550   8/23/2024  EUR    57.020
Landesbank Baden-Wue   3.000   5/26/2023  EUR    65.290
Nordea Bank Abp        6.063   7/20/2024  SEK    68.480
Nordea Bank Abp        7.150   7/20/2024  SEK    70.370
UBS AG/London         13.250   4/29/2022  CHF    53.750
DekaBank Deutsche Gi   3.300   08/12/2022 EUR    79.560
Bank Otkritie Financ   0.010   2/26/2023  RUB    84.880
Leonteq Securities A   7.600   03/09/2023 EUR    70.120
UniCredit Bank AG      3.450   04/02/2024 EUR    62.160
Sberbank of Russia P   0.010   03/11/2025 RUB    74.400
Leonteq Securities A  16.000   06/01/2022 USD    23.390
Leonteq Securities A  11.000  11/28/2022  EUR    72.380
Leonteq Securities A  10.000   12/01/2022 USD    42.790
Leonteq Securities A  10.000   12/01/2022 CHF    79.870
Corner Banca SA       15.000   8/31/2022  EUR    37.490
Leonteq Securities A  15.000   8/31/2022  CHF    64.450
Luzerner Kantonalban   7.500   6/15/2022  CHF    59.420
Leonteq Securities A  11.000   06/01/2022 CHF    54.760
Bank Julius Baer & C   9.000   09/01/2022 CHF    72.200
Bank Julius Baer & C   7.250   06/02/2022 CHF    61.550
Zurcher Kantonalbank  10.000   06/08/2022 USD    35.250
Vontobel Financial P   7.500   6/24/2022  EUR    72.710
Vontobel Financial P  11.500   6/24/2022  EUR    72.390
UniCredit Bank AG     12.000   6/16/2022  EUR    31.100
Societe Generale Eff  11.250   6/24/2022  EUR    36.420
Societe Generale Eff  13.250   6/24/2022  EUR    34.110
Societe Generale Eff  15.250   6/24/2022  EUR    32.400
Vontobel Financial P  18.750   6/24/2022  EUR    19.830
Vontobel Financial P   6.750   6/24/2022  EUR    63.330
Vontobel Financial P  18.250   6/24/2022  EUR    59.200
Vontobel Financial P  14.750   6/24/2022  EUR    61.720
Vontobel Financial P   7.000   6/24/2022  EUR    76.730
Vontobel Financial P  14.250   6/24/2022  EUR    57.840
Vontobel Financial P   9.000   6/24/2022  EUR    71.960
Vontobel Financial P   5.500   6/24/2022  EUR    70.150
Vontobel Financial P   9.000   6/24/2022  EUR    69.060
Societe Generale Eff   5.250   6/24/2022  EUR    75.770
Societe Generale Eff   7.250   6/24/2022  EUR    69.600
Societe Generale Eff   9.250   6/24/2022  EUR    65.110
Societe Generale Eff  11.250   6/24/2022  EUR    61.610
Societe Generale Eff  10.000   6/24/2022  EUR    72.360
Societe Generale Eff  11.000   6/24/2022  EUR    70.540
Societe Generale Eff  12.000   6/24/2022  EUR    68.860
Societe Generale Eff   8.500   6/24/2022  EUR    74.650
Societe Generale Eff  10.500   6/24/2022  EUR    70.750
Societe Generale Eff   8.000   6/24/2022  EUR    76.510
Societe Generale Eff   9.000   6/24/2022  EUR    74.390
Vontobel Financial P  17.000   6/24/2022  EUR    49.950
Vontobel Financial P  14.500   6/24/2022  EUR    18.670
Societe Generale Eff   5.250   6/24/2022  EUR    49.470
Societe Generale Eff   7.250   6/24/2022  EUR    43.320
Societe Generale Eff   9.250   6/24/2022  EUR    39.260
Societe Generale Eff   8.250   6/24/2022  EUR    71.980
Societe Generale Eff  10.250   6/24/2022  EUR    67.770
Societe Generale Eff  12.250   6/24/2022  EUR    64.390
Societe Generale Eff  14.250   6/24/2022  EUR    61.590
Societe Generale Eff   5.500   6/24/2022  EUR    73.210
Societe Generale Eff   6.500   6/24/2022  EUR    70.490
Societe Generale Eff   7.500   6/24/2022  EUR    68.160
Societe Generale Eff   8.500   6/24/2022  EUR    66.150
Societe Generale Eff  10.000   6/24/2022  EUR    74.520
Landesbank Baden-Wue   4.100   6/27/2025  EUR    76.060
DZ Bank AG Deutsche    5.500   6/22/2022  EUR    74.890
DZ Bank AG Deutsche    6.500   9/21/2022  EUR    72.740
Leonteq Securities A   7.400   12/01/2023 USD    72.910
Bank Julius Baer & C  10.000   06/02/2022 CHF    42.450
DZ Bank AG Deutsche   10.250   6/22/2022  EUR    70.790
DZ Bank AG Deutsche   11.000   6/22/2022  EUR    70.120
DZ Bank AG Deutsche    6.000   6/22/2022  EUR    69.120
DZ Bank AG Deutsche    5.000   9/21/2022  EUR    70.250
Leasing-Trade OOO     11.000   4/30/2026  RUB    57.600
Raiffeisen Centroban   7.500   07/07/2023 EUR    50.270
Zurcher Kantonalbank  12.500   12/02/2022 EUR    74.480
Vontobel Financial P  23.950   06/03/2022 EUR    14.880
Vontobel Financial P  26.800   06/03/2022 EUR    32.750
Vontobel Financial P  15.500   06/02/2022 EUR    70.610
Societe Generale SA    8.510   06/06/2024 USD    74.710
Landesbank Baden-Wue   3.300  11/25/2022  EUR    72.180
Landesbank Baden-Wue   4.000  11/25/2022  EUR    70.050
Landesbank Baden-Wue   5.500  11/25/2022  EUR    66.470
Landesbank Baden-Wue   5.100  11/25/2022  EUR    46.660
Landesbank Baden-Wue   7.900  11/25/2022  EUR    42.160
Landesbank Baden-Wue   2.000  11/25/2022  EUR    72.640
Landesbank Baden-Wue   3.800  11/25/2022  EUR    67.200
Landesbank Baden-Wue   6.700  11/25/2022  EUR    73.810
Landesbank Baden-Wue   6.300  11/25/2022  EUR    78.030
Landesbank Baden-Wue   3.800  11/25/2022  EUR    69.850
DZ Bank AG Deutsche   15.500   6/24/2022  EUR    71.340
Landesbank Baden-Wue   5.750  11/25/2022  EUR    73.680
Landesbank Baden-Wue   7.850  11/25/2022  EUR    69.500
Landesbank Baden-Wue   2.000  11/25/2022  EUR    61.100
Landesbank Baden-Wue   5.350  11/25/2022  EUR    49.880
Landesbank Baden-Wue   8.500  11/25/2022  EUR    44.520
Landesbank Baden-Wue   4.350  11/25/2022  EUR    51.850
Landesbank Baden-Wue   5.400  11/25/2022  EUR    49.750
Landesbank Baden-Wue   6.600  11/25/2022  EUR    48.110
Landesbank Baden-Wue   5.900  11/25/2022  EUR    59.670
DekaBank Deutsche Gi   3.050   7/22/2022  EUR    64.550
UniCredit Bank AG      4.100   08/02/2023 EUR    76.300
Skandinaviska Enskil   7.800   7/15/2024  SEK    72.610
Vontobel Financial P  17.000   6/24/2022  EUR    64.820
Vontobel Financial P  12.500   6/24/2022  EUR    70.280
UniCredit Bank AG      7.300   6/14/2024  EUR    58.930
UniCredit Bank AG      7.200   6/14/2024  EUR    74.870
Vontobel Financial P  19.500   6/24/2022  EUR    63.350
Vontobel Financial P  22.500   6/24/2022  EUR    59.230
Bank Vontobel AG      15.010   08/08/2022 USD    51.400
Bank Vontobel AG      14.257   08/08/2022 CHF    50.500
Societe Generale SA    6.820   5/18/2026  USD    66.900
DZ Bank AG Deutsche   14.800   6/24/2022  EUR    74.830
DZ Bank AG Deutsche   15.200   9/23/2022  EUR    73.500
DZ Bank AG Deutsche    8.500   6/22/2022  EUR    58.450
DZ Bank AG Deutsche    5.500   9/23/2022  EUR    75.740
DZ Bank AG Deutsche    7.100   9/23/2022  EUR    71.590
DZ Bank AG Deutsche    9.100   9/23/2022  EUR    68.130
DZ Bank AG Deutsche   11.200   9/23/2022  EUR    65.190
DZ Bank AG Deutsche   20.400   5/27/2022  EUR    66.310
DZ Bank AG Deutsche   12.000   6/24/2022  EUR    74.480
DZ Bank AG Deutsche    9.100   6/24/2022  EUR    72.110
DZ Bank AG Deutsche    8.300   9/23/2022  EUR    73.870
DZ Bank AG Deutsche   10.800   9/23/2022  EUR    70.350
DZ Bank AG Deutsche   15.000   6/24/2022  EUR    73.420
DZ Bank AG Deutsche   16.500   6/24/2022  EUR    73.620
DZ Bank AG Deutsche   14.500   9/23/2022  EUR    73.090
DZ Bank AG Deutsche   18.800   5/27/2022  EUR    63.570
DZ Bank AG Deutsche   21.200   6/24/2022  EUR    59.210
DZ Bank AG Deutsche   19.000   9/23/2022  EUR    62.890
DZ Bank AG Deutsche    8.700   9/23/2022  EUR    75.420
DZ Bank AG Deutsche   11.700   9/23/2022  EUR    70.390
DZ Bank AG Deutsche    6.250   6/20/2022  EUR    74.890
DZ Bank AG Deutsche    9.500   6/20/2022  EUR    71.700
EFG International Fi  15.000  11/14/2022  EUR    73.800
EFG International Fi  22.000   05/12/2022 CHF    59.390
EFG International Fi  14.000   05/12/2022 USD    45.830
Credit Suisse AG/Lon   8.000   08/12/2022 CHF    79.590
UBS AG/London         14.750  11/14/2022  CHF    40.950
UBS AG/London         10.500  11/14/2022  CHF    38.600
UBS AG/London         11.250  11/14/2022  CHF    62.800
UBS AG/London          5.500   05/12/2023 EUR    74.900
UBS AG/London         11.750  11/14/2022  CHF    39.800
Corner Banca SA       15.000  11/21/2022  USD    61.140
Leonteq Securities A  13.000  11/21/2022  USD    35.740
Leonteq Securities A   9.000  11/21/2022  CHF    54.590
Basler Kantonalbank   11.000   05/12/2022 CHF    68.000
Bank Julius Baer & C   8.550   5/13/2022  USD    39.500
Bank Julius Baer & C   6.000   5/13/2022  EUR    70.850
Leonteq Securities A   9.450   5/13/2022  USD    18.200
Leonteq Securities A  28.960   5/17/2022  CHF    55.070
Leonteq Securities A  10.000  11/14/2022  CHF    73.700
Vontobel Financial P  18.500   6/24/2022  EUR    64.900
Vontobel Financial P  16.500   6/24/2022  EUR    71.820
Vontobel Financial P  10.500   6/24/2022  EUR    74.340
Vontobel Financial P  12.500   6/24/2022  EUR    71.270
Vontobel Financial P  14.500   6/24/2022  EUR    68.480
Vontobel Financial P  18.500   6/24/2022  EUR    63.650
Vontobel Financial P  16.500   6/24/2022  EUR    65.950
Vontobel Financial P  11.000   6/24/2022  EUR    69.260
Vontobel Financial P   8.000   6/24/2022  EUR    73.770
Vontobel Financial P   9.500   6/24/2022  EUR    71.430
Vontobel Financial P  12.500   6/24/2022  EUR    67.250
Vontobel Financial P  14.000   6/24/2022  EUR    65.390
Vontobel Financial P  15.500   6/24/2022  EUR    63.660
Vontobel Financial P  17.000   6/24/2022  EUR    62.040
Vontobel Financial P   7.500   6/24/2022  EUR    69.300
Vontobel Financial P   8.000   6/24/2022  EUR    65.030
Vontobel Financial P   9.000   6/24/2022  EUR    66.190
Vontobel Financial P  16.000   6/24/2022  EUR    54.650
Credit Suisse AG/Lon  10.000   5/13/2022  USD    46.640
Vontobel Financial P  18.500   6/24/2022  EUR    77.310
Vontobel Financial P  13.500   6/24/2022  EUR    46.600
Vontobel Financial P  17.500   6/24/2022  EUR    42.800
Corner Banca SA       11.000  11/17/2022  EUR    61.200
Leonteq Securities A   9.000  11/17/2022  CHF    70.500
Leonteq Securities A  18.000   5/17/2022  USD    38.790
Leonteq Securities A  13.200   5/13/2022  USD    38.660
Leonteq Securities A   9.000   8/17/2022  CHF    70.780
Leonteq Securities A  10.000   8/17/2022  CHF    48.700
Vontobel Financial P  11.300   5/17/2022  USD    35.130
Vontobel Financial P  15.350   5/17/2022  USD    66.960
Bank Vontobel AG      11.008  11/14/2022  CHF    75.500
Vontobel Financial P   5.500   6/24/2022  EUR    64.920
Vontobel Financial P   8.750   6/24/2022  EUR    60.690
Vontobel Financial P   5.250   6/24/2022  EUR    74.810
Vontobel Financial P  11.750   6/24/2022  EUR    48.350
Vontobel Financial P  14.750   6/24/2022  EUR    66.180
Vontobel Financial P  11.750   6/24/2022  EUR    70.520
Vontobel Financial P  12.000   6/24/2022  EUR    60.310
Vontobel Financial P  14.250   6/24/2022  EUR    66.630
Leonteq Securities A  20.000   8/16/2022  CHF    68.750
Zurcher Kantonalbank  17.500   8/22/2022  CHF    61.290
Landesbank Baden-Wue   2.750  11/25/2022  EUR    54.310
Landesbank Baden-Wue   5.000  11/25/2022  EUR    75.720
Landesbank Baden-Wue   3.200  11/25/2022  EUR    37.930
Landesbank Baden-Wue   5.100  11/25/2022  EUR    34.260
Vontobel Financial P  14.500   6/24/2022  EUR    64.650
Vontobel Financial P   9.500   9/23/2022  EUR    61.890
UBS AG/London         10.000   06/02/2022 CHF    65.050
UBS AG/London          8.250   12/02/2022 CHF    62.400
Luzerner Kantonalban   7.600   8/16/2022  CHF    65.830
EFG International Fi  10.000   06/02/2022 CHF    46.540
Sberbank of Russia P   0.010   12/05/2025 RUB    64.600
Sberbank of Russia P   0.010   12/08/2025 RUB    65.400
SG Issuer SA           1.050  11/20/2025  EUR    15.550
Leonteq Securities A  12.000   06/08/2022 CHF    34.670
Leonteq Securities A  10.000   06/08/2022 EUR    64.610
Leonteq Securities A  11.000   06/07/2022 CHF    55.430
Nordea Bank Abp        2.000  12/29/2025  SEK    72.320
Vontobel Financial P  12.800   06/08/2022 USD    51.870
Raiffeisen Switzerla   7.500   06/07/2022 CHF    60.620
UniCredit Bank AG      5.800   01/12/2024 EUR    52.740
Vontobel Financial P   7.150   12/09/2022 CHF    67.110
UBS AG/London          7.250   12/09/2022 CHF    62.500
UBS AG/London         16.000   06/09/2022 USD    61.400
UBS AG/London         10.500   06/09/2022 CHF    34.950
UBS AG/London         12.250   06/09/2022 CHF    34.700
EFG International Fi  11.000   06/10/2022 USD    39.080
DekaBank Deutsche Gi   2.900   1/13/2023  EUR    43.650
DekaBank Deutsche Gi   2.000   01/12/2024 EUR    74.780
DekaBank Deutsche Gi   2.300   1/13/2023  EUR    75.060
Zurcher Kantonalbank   8.000  12/14/2022  CHF    65.770
Bank Vontobel AG       7.504   6/13/2022  CHF    33.400
Bank Vontobel AG       9.006   6/14/2022  CHF    58.900
Bank Vontobel AG      10.253   6/14/2022  EUR    62.400
Skandinaviska Enskil   7.450   1/15/2025  SEK    67.240
Nordea Bank Abp        8.500   1/20/2025  SEK    60.520
Landesbank Baden-Wue   3.150   3/24/2023  EUR    75.750
Sberbank of Russia P   0.010   9/25/2025  RUB    76.000
SG Issuer SA           2.200   01/10/2025 EUR    71.850
UniCredit Bank AG      4.800   05/06/2022 EUR    68.080
EFG International Fi   9.800  12/27/2022  CHF    60.400
Societe Generale SA   27.300  10/20/2025  USD    33.650
Skandinaviska Enskil   6.400   1/15/2025  SEK    65.220
Landesbank Baden-Wue   3.600   6/23/2023  EUR    60.090
Sberbank of Russia P   1.169   12/12/2024 RUB    73.200
Erste Group Bank AG    7.500   1/30/2025  EUR    73.200
Sberbank of Russia P   0.010   09/01/2025 RUB    73.600
UBS AG/London          6.750   5/16/2022  CHF    53.450
Bank Vontobel AG      10.003   9/19/2022  CHF    51.600
UBS AG/London         16.500   9/15/2022  USD    31.100
Zurcher Kantonalbank  10.500  11/18/2022  USD    64.080
Bank Vontobel AG      29.000   1/24/2023  CHF    54.400
UniCredit Bank AG      4.200   06/05/2023 EUR    63.130
Zurcher Kantonalbank   6.300  12/16/2022  CHF    45.200
Leonteq Securities A   6.600   01/09/2023 CHF    57.000
EFG International Fi  15.000   01/09/2023 USD    67.800
EFG International Fi   4.900  10/20/2023  USD    62.910
Skandinaviska Enskil   5.750   1/15/2025  SEK    70.160
EFG International Fi   4.900  10/16/2023  USD    65.570
Sberbank of Russia P   0.010  10/20/2025  RUB    69.100
UBS AG/London          9.250  10/21/2022  CHF    48.350
Sberbank of Russia P   0.010  10/23/2025  RUB    66.000
Sberbank of Russia P   0.010  10/22/2025  RUB    70.800
Sberbank of Russia P   0.010  10/23/2025  RUB    62.000
UniCredit Bank AG      6.600   9/13/2023  EUR    66.640
UBS AG/London         14.500  10/17/2022  USD    26.900
UniCredit Bank AG      4.150   05/08/2023 EUR    57.360
UniCredit Bank AG      4.900   5/22/2023  EUR    67.590
Sberbank of Russia P   3.200   9/24/2025  RUB    73.900
Sberbank of Russia P   0.010   9/17/2025  RUB    68.400
Bayerische Landesban   2.150   1/27/2023  EUR    76.620
Bayerische Landesban   3.500   1/26/2024  EUR    72.230
Bank Vontobel AG       9.501   12/12/2022 CHF    66.700
Bank Vontobel AG       9.750   12/12/2022 CHF    69.800
Landesbank Baden-Wue   7.500   7/22/2022  EUR    70.740
Landesbank Baden-Wue   3.100   7/22/2022  EUR    55.900
Landesbank Baden-Wue   5.850   7/22/2022  EUR    47.850
Landesbank Baden-Wue   3.250   7/22/2022  EUR    76.710
Landesbank Baden-Wue   4.300   7/22/2022  EUR    71.300
DZ Bank AG Deutsche   24.000   6/24/2022  EUR    42.080
DZ Bank AG Deutsche   24.400   6/24/2022  EUR    42.620
DZ Bank AG Deutsche   20.400   6/24/2022  EUR    56.700
Sberbank of Russia P   0.010  12/16/2025  RUB    68.700
Societe Generale Eff   3.000   6/24/2022  EUR    52.590
Societe Generale Eff  11.250   6/24/2022  EUR    56.880
Societe Generale Eff   6.250   7/22/2022  EUR    38.920
Societe Generale Eff  14.250   7/22/2022  EUR    30.070
Vontobel Financial P   9.500   6/24/2022  EUR    43.150
Leonteq Securities A  11.000   05/05/2022 CHF    36.540
Leonteq Securities A   9.000   02/08/2023 CHF    63.480
Vontobel Financial P   7.000   6/24/2022  EUR    72.510
Vontobel Financial P   7.500   9/23/2022  EUR    71.930
Vontobel Financial P  12.000   9/23/2022  EUR    67.230
Vontobel Financial P  15.000   9/23/2022  EUR    64.630
Sberbank of Russia P   1.165   2/24/2025  RUB    74.300
Raiffeisen Schweiz G   6.000   8/24/2022  CHF    73.390
Landesbank Baden-Wue   2.000   6/24/2022  EUR    73.470
DZ Bank AG Deutsche   16.900   6/24/2022  EUR    31.830
DZ Bank AG Deutsche   11.250   6/22/2022  EUR    74.830
DZ Bank AG Deutsche   14.600   6/24/2022  EUR    69.660
DZ Bank AG Deutsche    8.300   6/24/2022  EUR    64.670
Bank Vontobel AG       8.500   12/12/2022 EUR    64.900
Landesbank Baden-Wue   8.600   6/24/2022  EUR    39.210
Landesbank Baden-Wue   5.100   6/24/2022  EUR    45.500
DZ Bank AG Deutsche   24.400   6/24/2022  EUR    46.440
DZ Bank AG Deutsche   14.000   6/24/2022  EUR    34.210
DZ Bank AG Deutsche    8.000   6/22/2022  EUR    57.440
DZ Bank AG Deutsche   10.200   6/24/2022  EUR    69.030
DZ Bank AG Deutsche   17.500   6/24/2022  EUR    65.770
DZ Bank AG Deutsche    4.600   6/24/2022  EUR    71.610
DZ Bank AG Deutsche   10.800   6/24/2022  EUR    61.940
UBS AG/London          7.250   07/05/2022 EUR    70.420
Landesbank Baden-Wue   3.250   6/24/2022  EUR    67.340
DZ Bank AG Deutsche   16.800   6/24/2022  EUR    52.260
DZ Bank AG Deutsche   19.200   6/24/2022  EUR    49.310
DZ Bank AG Deutsche   15.400   6/24/2022  EUR    51.040
Landesbank Baden-Wue   8.250   7/22/2022  EUR    70.310
Vontobel Financial P   8.750   6/24/2022  EUR    67.900
DZ Bank AG Deutsche   16.700   6/24/2022  EUR    65.960
Landesbank Baden-Wue   4.000   6/24/2022  EUR    72.090
Landesbank Baden-Wue   4.500   6/24/2022  EUR    61.360
Vontobel Financial P  15.000   6/24/2022  EUR    69.270
Vontobel Financial P   7.500   6/24/2022  EUR    73.110
Vontobel Financial P  17.500   6/24/2022  EUR    65.280
Vontobel Financial P   5.500   6/24/2022  EUR    54.530
Raiffeisen Schweiz G   8.000   9/14/2022  EUR    65.100
Raiffeisen Schweiz G  11.000  12/14/2022  CHF    73.100
Raiffeisen Schweiz G   5.000   8/24/2022  CHF    73.050
Bank Vontobel AG       9.502   12/12/2022 CHF    66.700
Bank Vontobel AG       7.502   12/12/2022 CHF    64.800
Bank Vontobel AG      15.001   9/13/2022  CHF    31.400
Vontobel Financial P  18.000   6/24/2022  EUR    62.110
Vontobel Financial P  20.000   6/24/2022  EUR    68.830
Vontobel Financial P  16.500   6/24/2022  EUR    74.610
Vontobel Financial P   7.500   6/24/2022  EUR    55.670
Vontobel Financial P  18.000   6/24/2022  EUR    53.630
Raiffeisen Schweiz G  10.000  12/14/2022  CHF    60.020
Vontobel Financial P   9.500   6/24/2022  EUR    67.700
Vontobel Financial P  16.000   6/24/2022  EUR    58.410
Vontobel Financial P   7.500   6/24/2022  EUR    71.660
Vontobel Financial P  20.500   6/24/2022  EUR    53.830
Leonteq Securities A   6.800   2/20/2023  CHF    70.010
Vontobel Financial P  11.000   6/24/2022  EUR    68.890
Vontobel Financial P  13.500   6/24/2022  EUR    68.800
Vontobel Financial P  18.000   6/24/2022  EUR    72.470
Vontobel Financial P  15.500   6/24/2022  EUR    64.570
Vontobel Financial P  13.500   6/24/2022  EUR    61.090
Vontobel Financial P  11.000   6/24/2022  EUR    64.120
Leonteq Securities A   6.000   2/20/2023  CHF    63.580
VTB Bank PJSC          2.000   4/29/2026  RUB    63.000
Credit Suisse AG/Lon   6.000   8/22/2022  CHF    71.870
EFG International Fi   9.800   6/21/2023  EUR    42.420
Bank Vontobel AG       7.550   1/30/2023  CHF    68.300
Leonteq Securities A  10.000  10/31/2022  USD    49.960
Zurcher Kantonalbank  18.000   05/06/2022 CHF    50.550
Leonteq Securities A  15.000   08/02/2022 CHF    27.630
Leonteq Securities A  10.000   1/30/2023  EUR    78.480
Leonteq Securities A  17.000   08/02/2022 USD    34.510
Leonteq Securities A  26.350   08/03/2022 CHF    65.330
Leonteq Securities A   9.000  10/31/2022  CHF    61.200
Leonteq Securities A  12.000   6/21/2022  CHF    32.450
Leonteq Securities A  20.000   7/29/2022  CHF    35.930
Leonteq Securities A  22.450   7/29/2022  CHF    33.700
Vontobel Financial P   6.500   6/24/2022  EUR    69.790
Zurcher Kantonalbank  11.000   6/28/2022  CHF    76.180
Leonteq Securities A  11.000  10/31/2022  USD    47.150
Landesbank Baden-Wue   5.650   5/27/2022  EUR    43.680
Vontobel Financial P   8.000   6/24/2022  EUR    69.960
Vontobel Financial P   9.500   6/24/2022  EUR    67.870
Vontobel Financial P  14.000   6/24/2022  EUR    62.470
Vontobel Financial P  17.000   6/24/2022  EUR    59.460
Vontobel Financial P  21.000   6/24/2022  EUR    74.420
Vontobel Financial P  16.500   6/24/2022  EUR    66.420
Vontobel Financial P   5.500   6/24/2022  EUR    68.560
Vontobel Financial P  15.500   6/24/2022  EUR    71.630
Vontobel Financial P  13.000   6/24/2022  EUR    76.420
Vontobel Financial P  10.000   6/24/2022  EUR    31.100
Credit Suisse AG/Lon   8.250   9/19/2022  EUR    69.350
Zurcher Kantonalbank   8.000   08/08/2022 CHF    69.780
Vontobel Financial P  10.500   6/24/2022  EUR    62.160
Zurcher Kantonalbank  15.500   05/10/2022 CHF    69.780
Vontobel Financial P   8.000   6/24/2022  EUR    64.950
Vontobel Financial P  17.500   6/24/2022  EUR    72.570
Vontobel Financial P  13.500   6/24/2022  EUR    57.120
Vontobel Financial P  18.000   6/24/2022  EUR    59.360
Vontobel Financial P  12.500   6/24/2022  EUR    65.360
Vontobel Financial P  16.000   6/24/2022  EUR    61.610
Vontobel Financial P  16.500   6/24/2022  EUR    76.320
Vontobel Financial P  16.000   6/24/2022  EUR    72.710
Vontobel Financial P   7.500   6/24/2022  EUR    60.730
Sberbank of Russia P   0.010   03/04/2026 RUB    64.900
UBS AG/London          9.750   09/05/2022 CHF    66.400
UBS AG/London         16.250   09/05/2022 CHF    57.300
Leonteq Securities A  20.000   06/01/2022 EUR    67.750
EFG International Fi   6.400   03/08/2023 USD    70.100
UniCredit Bank AG      5.300   04/08/2025 EUR    75.230
Zurcher Kantonalbank  13.000   6/17/2022  CHF    64.630
Sberbank of Russia P   0.010   03/06/2028 RUB    57.300
Bank Vontobel AG      23.008   06/02/2022 CHF    41.800
Bank Vontobel AG      10.506   09/02/2022 CHF    66.500
Bank Vontobel AG       8.252   09/02/2022 EUR    70.100
Bank Vontobel AG       7.259   06/03/2022 CHF    65.300
Sberbank of Russia P   0.010   03/05/2026 RUB    68.000
Bank Vontobel AG       7.250   06/03/2022 CHF    51.600
Bank Vontobel AG       5.254   09/02/2022 CHF    69.600
Bank Vontobel AG      14.004   09/02/2022 CHF    40.500
Sberbank of Russia P   0.010   03/04/2026 RUB    64.200
Leonteq Securities A  14.000   06/08/2022 CHF    39.770
Leonteq Securities A  17.000   06/08/2022 USD    31.280
Zurcher Kantonalbank   7.000   09/08/2022 CHF    79.770
Bank Vontobel AG      25.504   5/24/2022  CHF    35.800
Bank Vontobel AG      15.004   8/26/2022  CHF    30.400
Bank Vontobel AG      15.004   8/26/2022  CHF    30.400
DZ Bank AG Deutsche    8.000   6/20/2022  EUR    75.160
Bank Julius Baer & C   7.000   06/10/2022 CHF    49.500
DZ Bank AG Deutsche    5.500   6/22/2022  EUR    73.920
Leonteq Securities A  16.000   06/10/2022 CHF    32.190
Aerofuels JSC          9.250   2/28/2024  RUB    71.380
UBS AG/London          9.250   03/10/2023 CHF    59.800
UBS AG/London         10.750   09/12/2022 CHF    56.200
UBS AG/London         16.500   09/12/2022 CHF    60.950
Raiffeisen Switzerla   8.500   09/08/2022 CHF    56.490
Vontobel Financial P   3.000   09/05/2023 EUR    75.570
Landesbank Baden-Wue   2.200  12/23/2022  EUR    74.920
Landesbank Baden-Wue   2.150  12/23/2022  EUR    55.420
Landesbank Baden-Wue   3.000  12/23/2022  EUR    60.930
DekaBank Deutsche Gi   2.500  10/24/2023  EUR    65.980
SG Issuer SA           8.120   7/20/2023  SEK    68.580
UniCredit Bank AG      3.600   10/05/2022 EUR    55.530
DekaBank Deutsche Gi   2.600  10/24/2023  EUR    66.120
Landesbank Baden-Wue   2.600   9/22/2023  EUR    70.160
Danske Bank A/S        7.141   07/09/2023 SEK    68.360
Bank Julius Baer & C   8.900   6/17/2022  USD    63.450
Vontobel Financial P   8.250   6/24/2022  EUR    44.030
Vontobel Financial P   4.200   9/16/2022  EUR    75.630
Vontobel Financial P   8.500   7/13/2022  EUR    69.660
VTB Bank PJSC          0.010   5/20/2026  RUB    66.150
Credit Suisse AG/Lon  12.000   4/29/2022  USD    19.110
Vontobel Financial P  16.500   6/24/2022  EUR    53.670
Vontobel Financial P  15.000   6/24/2022  EUR    62.820
Vontobel Financial P   9.000   6/24/2022  EUR    48.490
Vontobel Financial P  17.000   6/24/2022  EUR    40.810
Vontobel Financial P  13.000   6/24/2022  EUR    44.180
Vontobel Financial P   5.000   6/24/2022  EUR    65.750
Vontobel Financial P  10.500   6/24/2022  EUR    56.640
Leonteq Securities A  24.350   4/29/2022  CHF    54.020
UniCredit Bank AG     12.000   8/18/2022  EUR    50.600
Societe Generale Eff   4.750   6/24/2022  EUR    38.960
Bank Vontobel AG      11.000   08/01/2022 EUR    43.700
Vontobel Financial P  11.500   6/24/2022  EUR    72.660
Vontobel Financial P  12.500   6/24/2022  EUR    70.920
Vontobel Financial P  15.000   6/24/2022  EUR    67.810
Vontobel Financial P  14.000   6/24/2022  EUR    69.360
Vontobel Financial P  16.500   6/24/2022  EUR    64.570
Vontobel Financial P  15.000   6/24/2022  EUR    26.970
Vontobel Financial P  10.500   6/24/2022  EUR    68.290
Vontobel Financial P  13.500   6/24/2022  EUR    64.020
Vontobel Financial P  17.000   6/24/2022  EUR    60.450
Vontobel Financial P  11.500   6/24/2022  EUR    74.660
Vontobel Financial P  17.000   6/24/2022  EUR    66.500
Vontobel Financial P   7.500   6/24/2022  EUR    33.260
Vontobel Financial P   5.500   6/24/2022  EUR    58.160
Leonteq Securities A  12.000   7/29/2022  CHF    62.470
Leonteq Securities A   7.000   05/03/2023 CHF    65.400
Vontobel Financial P   8.250   6/24/2022  EUR    62.800
Vontobel Financial P   9.750   6/24/2022  EUR    71.160
Leonteq Securities A  10.000   11/02/2022 CHF    48.260
Leonteq Securities A   5.000   1/30/2023  USD    46.180
Leonteq Securities A   2.800   7/29/2022  EUR    52.350
Leonteq Securities A  23.180   4/29/2022  USD    21.640
Zurcher Kantonalbank  10.000   6/24/2022  CHF    68.930
Zurcher Kantonalbank   9.000   6/28/2022  CHF    77.830
Vontobel Financial P  12.000   6/24/2022  EUR    31.680
Goldman Sachs & Co W  15.000   6/22/2022  EUR    67.460
Goldman Sachs & Co W  19.000   6/22/2022  EUR    63.340
Goldman Sachs & Co W  12.000   3/22/2023  EUR    66.070
Goldman Sachs & Co W  10.000   6/22/2022  EUR    72.450
Goldman Sachs & Co W  10.000   9/21/2022  EUR    74.860
Goldman Sachs & Co W   7.000  12/21/2022  EUR    74.350
Goldman Sachs & Co W  10.000  12/21/2022  EUR    69.730
Goldman Sachs & Co W  13.000  12/21/2022  EUR    63.740
Goldman Sachs & Co W   8.000   3/22/2023  EUR    73.410
Goldman Sachs & Co W  10.000   3/22/2023  EUR    69.300
Goldman Sachs & Co W  10.000   9/21/2022  EUR    74.860
Goldman Sachs & Co W  17.000   6/22/2022  EUR    57.840
Goldman Sachs & Co W   8.000   9/21/2022  EUR    73.090
Goldman Sachs & Co W   9.000   9/21/2022  EUR    70.000
Goldman Sachs & Co W  15.000   9/21/2022  EUR    61.290
DekaBank Deutsche Gi   3.350   04/08/2024 EUR    67.610
DekaBank Deutsche Gi   3.250   04/06/2023 EUR    72.780
Leonteq Securities A   8.000   3/15/2023  CHF    61.210
Zurcher Kantonalbank   8.500   06/10/2022 EUR    40.450
Vontobel Financial P  16.000   6/24/2022  EUR    70.210
Vontobel Financial P  14.000   6/24/2022  EUR    72.390
Vontobel Financial P  14.000   6/24/2022  EUR    71.170
Vontobel Financial P  15.000   6/24/2022  EUR    27.820
Vontobel Financial P  10.500   6/24/2022  EUR    58.560
Zurcher Kantonalbank   7.750   05/10/2022 CHF    76.890
Bank Julius Baer & C   9.250   9/19/2022  EUR    71.300
Bank Julius Baer & C   8.450   6/17/2022  USD    73.350
Bank Julius Baer & C  12.000   9/19/2022  USD    69.450
Landesbank Baden-Wue   3.000   8/26/2022  EUR    70.120
Vontobel Financial P   8.500   6/24/2022  EUR    71.570
Vontobel Financial P  17.500   6/24/2022  EUR    75.040
Vontobel Financial P  16.000   6/24/2022  EUR    67.970
Vontobel Financial P  18.000   6/24/2022  EUR    68.050
Vontobel Financial P  17.500   6/24/2022  EUR    26.580
Vontobel Financial P  12.500   6/24/2022  EUR    29.310
Landesbank Baden-Wue   4.000   7/25/2025  EUR    48.610
Societe Generale Eff   6.500   6/24/2022  EUR    34.620
Vontobel Financial P   7.500   6/24/2022  EUR    70.460
Vontobel Financial P  19.500   6/24/2022  EUR    57.090
Zurcher Kantonalbank   9.250   05/10/2022 CHF    72.090
Vontobel Financial P  18.500   6/24/2022  EUR    63.710
Goldman Sachs & Co W   7.000   6/22/2022  EUR    75.440
Vontobel Financial P   9.500   6/24/2022  EUR    67.670
Vontobel Financial P  11.500   6/24/2022  EUR    65.140
Vontobel Financial P  15.500   6/24/2022  EUR    60.750
Vontobel Financial P  13.500   6/24/2022  EUR    62.840
Vontobel Financial P  12.500   6/24/2022  EUR    64.140
Vontobel Financial P  10.500   6/24/2022  EUR    65.860
Zurcher Kantonalbank  20.500   08/09/2022 CHF    46.890
Vontobel Financial P  12.000   6/24/2022  EUR    59.200
Vontobel Financial P   8.500   6/24/2022  EUR    63.420
Vontobel Financial P   7.500   6/24/2022  EUR    31.920
Vontobel Financial P  12.500   6/24/2022  EUR    28.330
Vontobel Financial P  17.500   6/24/2022  EUR    25.830
Zurcher Kantonalbank   8.000   05/10/2022 EUR    73.400
EFG International Fi   8.560   6/17/2022  CHF    67.900
Leonteq Securities A  21.290   6/17/2022  CHF    64.380
Vontobel Financial P  15.000   6/24/2022  EUR    55.320
Leonteq Securities A  20.760   6/17/2022  CHF    26.260
Vontobel Financial P   6.000   6/24/2022  EUR    54.290
Vontobel Financial P   5.500   6/24/2022  EUR    68.090
Vontobel Financial P  13.500   6/24/2022  EUR    53.180
Vontobel Financial P   6.000   6/24/2022  EUR    73.610
Vontobel Financial P  10.500   6/24/2022  EUR    74.490
Vontobel Financial P  10.000   6/24/2022  EUR    29.960
Vontobel Financial P  13.500   6/24/2022  EUR    59.760
Vontobel Financial P  17.000   6/24/2022  EUR    50.350
Societe Generale Eff   5.000   5/27/2022  EUR    37.370
Vontobel Financial P  17.500   6/24/2022  EUR    58.840
Vontobel Financial P   6.500   6/24/2022  EUR    72.210
Vontobel Financial P  15.500   6/24/2022  EUR    60.910
Vontobel Financial P  17.500   6/24/2022  EUR    65.030
Landesbank Baden-Wue   2.650   9/22/2023  EUR    68.210
Leonteq Securities A  23.690   06/03/2022 CHF    24.540
Leonteq Securities A  23.290   06/03/2022 CHF    63.800
Leonteq Securities A  11.000   09/07/2022 CHF    60.860
EFG International Fi   9.850   06/08/2022 USD    71.890
Erste Group Bank AG    8.000   6/30/2022  EUR    66.300
Erste Group Bank AG    6.500   6/30/2022  EUR    66.000
Erste Group Bank AG    4.250   6/30/2022  EUR    65.900
UniCredit Bank AG      4.050   07/01/2024 EUR    73.220
UBS AG/London         11.000  11/30/2022  CHF    34.450
UBS AG/London          6.500  11/30/2022  CHF    69.750
UBS AG/London          5.250   5/31/2023  CHF    75.700
UBS AG/London         10.250  11/30/2022  CHF    61.500
UBS AG/London          5.250   5/31/2023  EUR    65.100
UBS AG/London         12.500  11/30/2022  CHF    59.650
Leonteq Securities A  14.000   06/08/2022 CHF    38.410
Leonteq Securities A  12.000   06/08/2022 CHF    17.540
Zurcher Kantonalbank   9.500   6/15/2022  EUR    67.740
Zurcher Kantonalbank   9.250   6/15/2022  CHF    72.000
Vontobel Financial P  12.750   6/24/2022  EUR    67.040
Vontobel Financial P  10.000   6/24/2022  EUR    63.630
Raiffeisen Centroban  12.652   9/21/2022  EUR    70.140
Vontobel Financial P  12.000   6/24/2022  EUR    63.720
Vontobel Financial P   9.750   6/24/2022  EUR    34.550
DZ Bank AG Deutsche    7.000   9/19/2022  EUR    72.330
DZ Bank AG Deutsche    6.200   6/20/2022  EUR    73.660
DZ Bank AG Deutsche    5.400   9/19/2022  EUR    74.930
Raiffeisen Switzerla  13.000   5/19/2022  CHF    58.040
Leonteq Securities A   9.300   8/24/2022  USD    43.760
UBS AG/London         11.000   8/24/2022  CHF    49.350
UBS AG/London         11.250   8/24/2022  CHF    67.150
Credit Suisse AG/Lon   7.250   5/18/2022  CHF    60.170
Credit Suisse AG/Lon   8.100   8/23/2022  CHF    67.160
UniCredit Bank AG      4.450  12/29/2022  EUR    35.590
EFG International Fi   7.000   5/23/2022  EUR    31.670
SG Issuer SA           7.500   1/20/2025  SEK    46.800
Landesbank Baden-Wue   2.750  11/25/2022  EUR    56.690
UniCredit Bank AG      3.800  12/29/2022  EUR    41.550
DekaBank Deutsche Gi   3.000  12/29/2022  EUR    55.290
Landesbank Baden-Wue   3.400   2/24/2023  EUR    68.030
Leonteq Securities A  17.140   08/12/2022 CHF    66.710
Leonteq Securities A  18.480   08/12/2022 CHF    69.790
Landesbank Baden-Wue   6.750   8/26/2022  EUR    34.340
Landesbank Baden-Wue   9.000   9/23/2022  EUR    76.700
Landesbank Baden-Wue  10.100   8/26/2022  EUR    63.890
Landesbank Baden-Wue   5.000   8/26/2022  EUR    74.520
Landesbank Baden-Wue   4.800   8/26/2022  EUR    36.730
Landesbank Baden-Wue   5.000   8/26/2022  EUR    70.730
BNP Paribas Emission   8.000   6/23/2022  EUR    56.080
BNP Paribas Emission  14.000   6/23/2022  EUR    51.560
BNP Paribas Emission   5.000   9/22/2022  EUR    63.800
BNP Paribas Emission   8.000   9/22/2022  EUR    58.230
BNP Paribas Emission  12.000   9/22/2022  EUR    54.400
BNP Paribas Emission   5.000  12/22/2022  EUR    65.020
BNP Paribas Emission   8.000  12/22/2022  EUR    60.260
BNP Paribas Emission  10.000   6/23/2022  EUR    69.580
BNP Paribas Emission   8.000   9/22/2022  EUR    71.360
BNP Paribas Emission   8.000  12/22/2022  EUR    73.160
BNP Paribas Emission   8.000   9/22/2022  EUR    70.060
BNP Paribas Emission   8.000  12/22/2022  EUR    71.990
BNP Paribas Emission   8.000  12/22/2022  EUR    72.290
BNP Paribas Emission  10.000  12/22/2022  EUR    56.140
BNP Paribas Emission  10.000   6/23/2022  EUR    68.880
BNP Paribas Emission  10.000   9/22/2022  EUR    71.360
BNP Paribas Emission  10.000   6/23/2022  EUR    77.120
BNP Paribas Emission  10.000   9/22/2022  EUR    77.330
BNP Paribas Emission  14.000   9/22/2022  EUR    70.100
BNP Paribas Emission   8.000  12/22/2022  EUR    76.730
BNP Paribas Emission  14.000  12/22/2022  EUR    72.580
BNP Paribas Emission   6.000  12/22/2022  EUR    53.980
BNP Paribas Emission   6.000  12/22/2022  EUR    51.140
BNP Paribas Emission   8.000  12/22/2022  EUR    49.900
BNP Paribas Emission   8.000   9/22/2022  EUR    48.090
BNP Paribas Emission  12.000   9/22/2022  EUR    72.500
BNP Paribas Emission  12.000  12/22/2022  EUR    75.080
Societe Generale Eff   4.000   7/22/2022  EUR    40.230
BNP Paribas Emission   6.000   6/23/2022  EUR    51.300
BNP Paribas Emission   8.000   6/23/2022  EUR    48.670
BNP Paribas Emission  10.000   6/23/2022  EUR    46.370
BNP Paribas Emission   6.000   9/22/2022  EUR    52.780
BNP Paribas Emission   8.000   9/22/2022  EUR    50.680
BNP Paribas Emission  12.000   6/23/2022  EUR    74.770
BNP Paribas Emission   5.000   6/23/2022  EUR    62.420
Vontobel Financial P   6.000   6/24/2022  EUR    72.300
Vontobel Financial P  11.250   6/24/2022  EUR    75.050
Vontobel Financial P   6.250   6/24/2022  EUR    66.690
Vontobel Financial P  14.250   6/24/2022  EUR    43.350
Vontobel Financial P  16.250   6/24/2022  EUR    65.870
Vontobel Financial P   5.750   6/24/2022  EUR    75.990
Vontobel Financial P   8.000   6/24/2022  EUR    63.960
Vontobel Financial P  20.000   6/24/2022  EUR    35.890
Vontobel Financial P   5.250   6/24/2022  EUR    74.800
Vontobel Financial P   9.000   6/24/2022  EUR    74.910
Leonteq Securities A  10.000   2/13/2023  USD    61.510
Leonteq Securities A  16.000  11/16/2022  CHF    63.010
Leonteq Securities A  12.000  11/16/2022  CHF    38.360
Corner Banca SA       10.000   2/13/2023  EUR    44.500
Corner Banca SA       13.000   8/16/2022  CHF    36.010
Leonteq Securities A  14.000   2/13/2023  CHF    50.940
Leonteq Securities A  13.000  11/16/2022  USD    70.140
Bank Vontobel AG       6.500   2/13/2023  CHF    66.100
Bank Vontobel AG      10.000   8/15/2022  CHF    64.800
Bank Vontobel AG      10.000   8/15/2022  CHF    64.800
Bank Vontobel AG      14.500   2/13/2023  EUR    59.200
Bank Vontobel AG       7.500   2/13/2023  EUR    64.600
Bank Julius Baer & C  19.600   5/16/2022  CHF    30.550
Societe Generale Eff  13.000   5/27/2022  EUR    78.800
Societe Generale Eff  15.000   5/27/2022  EUR    76.300
Societe Generale Eff  14.000   6/24/2022  EUR    77.510
Societe Generale Eff   3.500   8/26/2022  EUR    42.730
Societe Generale Eff  13.250   7/22/2022  EUR    78.300
Societe Generale Eff  12.500   8/26/2022  EUR    79.060
Corner Banca SA       12.000   06/01/2022 CHF    36.270
Zurcher Kantonalbank  21.500   8/23/2022  USD    45.860
Zurcher Kantonalbank   6.020   8/16/2022  CHF    79.040
Zurcher Kantonalbank  11.500   8/23/2022  EUR    74.630
Leonteq Securities A  26.150   8/16/2022  CHF    35.740
Zurcher Kantonalbank  18.500   8/22/2022  USD    52.460
Landesbank Baden-Wue   5.000  11/25/2022  EUR    46.970
Landesbank Baden-Wue   3.200  11/25/2022  EUR    73.300
DZ Bank AG Deutsche    5.000   8/24/2022  EUR    70.980
ID Collect LLC        12.000   7/25/2024  RUB    71.150
Bank Julius Baer & C   5.750   8/17/2022  CHF    65.250
Zurcher Kantonalbank  12.900   8/17/2022  CHF    39.960
EFG International Fi   4.900   12/04/2023 USD    59.820
UBS AG/London         15.000   06/03/2022 USD    32.600
Sberbank of Russia P   0.010   12/02/2025 RUB    67.100
T-Centrum CZ AS        6.940  10/30/2024  CZK    72.000
DekaBank Deutsche Gi   3.350  11/28/2022  EUR    74.780
Basler Kantonalbank   10.000   2/13/2023  CHF    64.370
EFG International Fi  15.000   2/13/2023  EUR    37.410
BNP Paribas Emission  10.000   6/23/2022  EUR    68.840
BNP Paribas Emission   6.000   6/23/2022  EUR    66.220
BNP Paribas Emission   6.000   9/22/2022  EUR    67.790
BNP Paribas Emission   6.000  12/22/2022  EUR    69.150
BNP Paribas Emission   6.000   6/23/2022  EUR    74.060
BNP Paribas Emission  12.000   6/23/2022  EUR    68.910
BNP Paribas Emission   6.000   9/22/2022  EUR    75.560
BNP Paribas Emission  10.000   9/22/2022  EUR    74.040
BNP Paribas Emission  14.000   6/23/2022  EUR    72.860
BNP Paribas Emission   8.000   6/23/2022  EUR    75.360
BNP Paribas Emission  10.000   6/23/2022  EUR    70.760
BNP Paribas Emission   8.000   9/22/2022  EUR    77.150
BNP Paribas Emission  12.000   9/22/2022  EUR    69.780
BNP Paribas Emission   8.000  12/22/2022  EUR    74.140
BNP Paribas Emission  10.000  12/22/2022  EUR    71.310
BNP Paribas Emission  12.000   9/22/2022  EUR    75.540
BNP Paribas Emission   8.000   9/22/2022  EUR    70.570
BNP Paribas Emission   5.000  12/22/2022  EUR    74.150
BNP Paribas Emission   8.000  12/22/2022  EUR    72.350
BNP Paribas Emission   4.000   6/23/2022  EUR    74.410
BNP Paribas Emission   5.000   6/23/2022  EUR    69.320
BNP Paribas Emission   5.000   9/22/2022  EUR    69.710
BNP Paribas Emission   8.000   9/22/2022  EUR    65.470
BNP Paribas Emission  10.000   6/23/2022  EUR    61.570
BNP Paribas Emission  14.000   6/23/2022  EUR    58.680
BNP Paribas Emission  15.000   6/23/2022  EUR    57.000
BNP Paribas Emission  12.000   9/22/2022  EUR    61.510
BNP Paribas Emission  15.000   6/23/2022  EUR    70.000
BNP Paribas Emission   5.000  12/22/2022  EUR    70.560
BNP Paribas Emission   8.000  12/22/2022  EUR    67.260
BNP Paribas Emission  10.000   9/22/2022  EUR    66.960
BNP Paribas Emission  10.000   9/22/2022  EUR    64.170
BNP Paribas Emission   5.000  12/22/2022  EUR    71.750
BNP Paribas Emission   8.000  12/22/2022  EUR    69.250
BNP Paribas Emission  14.000   9/22/2022  EUR    28.940
BNP Paribas Emission  12.000  12/22/2022  EUR    31.030
EFG International Fi  17.000   08/11/2022 CHF    63.340
Societe Generale Eff  12.000   5/27/2022  EUR    75.050
Societe Generale Eff  13.250   6/24/2022  EUR    75.940
Societe Generale Eff  15.250   6/24/2022  EUR    73.160
Societe Generale Eff  14.500   7/22/2022  EUR    74.060
BNP Paribas Emission   6.000   6/23/2022  EUR    72.170
Societe Generale Eff   6.500   6/24/2022  EUR    71.660
BNP Paribas Emission  14.000   6/23/2022  EUR    58.140
BNP Paribas Emission  12.000   9/22/2022  EUR    60.940
BNP Paribas Emission  10.000  12/22/2022  EUR    62.580
BNP Paribas Emission  10.000   9/22/2022  EUR    71.200
BNP Paribas Emission  12.000   9/22/2022  EUR    70.780
BNP Paribas Emission  14.000   6/23/2022  EUR    67.070
BNP Paribas Emission  10.000   9/22/2022  EUR    73.220
BNP Paribas Emission  14.000   6/23/2022  EUR    77.540
BNP Paribas Emission  10.000  12/22/2022  EUR    75.630
BNP Paribas Emission   6.000   9/22/2022  EUR    73.630
BNP Paribas Emission  14.000   6/23/2022  EUR    59.540
BNP Paribas Emission   5.000   6/23/2022  EUR    68.590
BNP Paribas Emission  14.000   6/23/2022  EUR    59.640
BNP Paribas Emission   4.000   9/22/2022  EUR    75.550
BNP Paribas Emission   8.000   6/23/2022  EUR    65.240
BNP Paribas Emission  15.000   9/22/2022  EUR    60.210
BNP Paribas Emission  12.000  12/22/2022  EUR    63.540
BNP Paribas Emission  14.000  12/22/2022  EUR    59.290
BNP Paribas Emission  10.000   6/23/2022  EUR    74.900
Societe Generale Eff  13.750   8/26/2022  EUR    74.910
BNP Paribas Emission  12.000   9/22/2022  EUR    62.400
BNP Paribas Emission   4.000  12/22/2022  EUR    75.780
BNP Paribas Emission  12.000   9/22/2022  EUR    63.550
BNP Paribas Emission   5.000   6/23/2022  EUR    72.530
BNP Paribas Emission  10.000   6/23/2022  EUR    64.400
BNP Paribas Emission   5.000   9/22/2022  EUR    73.650
BNP Paribas Emission   5.000  12/22/2022  EUR    74.390
BNP Paribas Emission   8.000  12/22/2022  EUR    67.970
BNP Paribas Emission   5.000   9/22/2022  EUR    70.640
BNP Paribas Emission   8.000   9/22/2022  EUR    67.330
BNP Paribas Emission  12.000   9/22/2022  EUR    61.470
BNP Paribas Emission   8.000   6/23/2022  EUR    30.690
BNP Paribas Emission  10.000   6/23/2022  EUR    28.560
BNP Paribas Emission  12.000   6/23/2022  EUR    26.790
BNP Paribas Emission   8.000   9/22/2022  EUR    32.770
BNP Paribas Emission  10.000   9/22/2022  EUR    31.150
BNP Paribas Emission  12.000   9/22/2022  EUR    29.900
BNP Paribas Emission   8.000  12/22/2022  EUR    32.210
BNP Paribas Emission  10.000  12/22/2022  EUR    31.480
BNP Paribas Emission  10.000   6/23/2022  EUR    65.690
UniCredit Bank AG     10.000   9/15/2022  EUR    77.390
Bank Julius Baer & C   9.600   08/12/2022 USD    42.200
Leonteq Securities A  26.380   08/12/2022 CHF    53.130
Landesbank Baden-Wue   8.700   8/26/2022  EUR    68.090
Landesbank Baden-Wue   3.600   8/26/2022  EUR    69.370
Landesbank Baden-Wue   3.000   8/26/2022  EUR    75.100
Zurcher Kantonalbank  12.000   8/23/2022  CHF    74.900
Zurcher Kantonalbank  20.500   8/23/2022  CHF    56.070
DZ Bank AG Deutsche    9.700   6/24/2022  EUR    71.970
DZ Bank AG Deutsche   24.500   6/24/2022  EUR    39.630
Landesbank Baden-Wue  10.500   6/24/2022  EUR    42.120
Landesbank Baden-Wue   2.500   6/24/2022  EUR    54.880
Landesbank Baden-Wue   9.500   6/24/2022  EUR    37.460
Landesbank Baden-Wue   2.500   6/24/2022  EUR    51.660
Landesbank Baden-Wue   2.000   6/24/2022  EUR    70.930
Landesbank Baden-Wue   8.000   6/24/2022  EUR    54.370
Zurcher Kantonalbank  10.000   6/23/2022  CHF    75.720
EFG International Fi  18.000   6/16/2022  CHF    28.110
SG Issuer SA           0.263   2/20/2025  EUR    19.910
UBS AG/London         11.250  12/16/2022  USD    69.150
UBS AG/London          8.250   6/16/2023  CHF    66.750
Landesbank Baden-Wue   3.500   6/24/2022  EUR    67.550
Landesbank Baden-Wue   5.250   6/24/2022  EUR    79.040
DZ Bank AG Deutsche    7.300   6/24/2022  EUR    67.690
Landesbank Baden-Wue   4.200   6/24/2022  EUR    50.810
Landesbank Baden-Wue   7.150   6/24/2022  EUR    45.910
Landesbank Baden-Wue   7.250   7/22/2022  EUR    68.630
EFG International Fi  10.000  12/16/2022  CHF    38.260
DZ Bank AG Deutsche   13.000   6/24/2022  EUR    62.590
DZ Bank AG Deutsche   16.900   6/24/2022  EUR    56.420
Landesbank Baden-Wue   6.000   6/24/2022  EUR    65.940
Landesbank Baden-Wue   5.000   7/22/2022  EUR    74.700
Vontobel Financial P   3.500   07/03/2023 EUR    49.780
Vontobel Financial P  10.000   07/06/2022 EUR    71.910
DZ Bank AG Deutsche   17.400   6/24/2022  EUR    48.290
DZ Bank AG Deutsche   19.500   6/24/2022  EUR    45.920
DZ Bank AG Deutsche   21.700   6/24/2022  EUR    43.870
DZ Bank AG Deutsche    6.200   6/24/2022  EUR    67.870
Landesbank Baden-Wue   1.500   6/24/2022  EUR    72.310
Landesbank Baden-Wue   2.500   6/24/2022  EUR    72.030
DZ Bank AG Deutsche   15.800   6/24/2022  EUR    42.210
Landesbank Baden-Wue   5.500   6/24/2022  EUR    43.130
Credit Suisse AG/Lon   6.000   8/24/2022  CHF    71.830
UBS AG/London         12.500  12/16/2022  CHF    54.700
UBS AG/London          8.000  12/16/2022  CHF    66.100
DZ Bank AG Deutsche   11.600   6/24/2022  EUR    75.530
Landesbank Baden-Wue   8.750   7/22/2022  EUR    43.250
DZ Bank AG Deutsche   11.300   6/24/2022  EUR    66.390
Landesbank Baden-Wue  10.000   7/22/2022  EUR    73.970
Landesbank Baden-Wue   2.000   7/22/2022  EUR    56.960
Societe Generale Eff  10.250   7/22/2022  EUR    33.070
Landesbank Baden-Wue   4.500   7/22/2022  EUR    51.030
Vontobel Financial P  13.000   9/23/2022  EUR    80.190
Vontobel Financial P  17.000   9/23/2022  EUR    70.860
UniCredit Bank AG     10.400   08/11/2022 EUR    58.905
EFG International Fi   4.900  12/15/2023  USD    59.830
Leonteq Securities A  10.000   6/15/2022  CHF    65.220
SG Issuer SA           0.015   11/07/2033 EUR    75.060
SG Issuer SA           0.021   8/15/2033  EUR    61.050
Landesbank Baden-Wue   3.600   7/22/2022  EUR    73.320
Landesbank Baden-Wue   2.700   7/22/2022  EUR    48.510
Landesbank Baden-Wue   6.000   7/22/2022  EUR    38.520
Landesbank Baden-Wue   8.550   7/22/2022  EUR    35.420
Landesbank Baden-Wue   6.500   7/22/2022  EUR    63.680
Leonteq Securities A  12.000   6/15/2022  CHF    31.880
Landesbank Baden-Wue   5.500   7/22/2022  EUR    75.740
Landesbank Baden-Wue   2.500   7/22/2022  EUR    75.720
Landesbank Baden-Wue   3.300   7/22/2022  EUR    73.610
UBS AG/London          8.000   02/03/2023 CHF    62.850
UBS AG/London         10.250   08/03/2022 CHF    63.300
Vontobel Financial P   9.500   6/24/2022  EUR    68.640
Zurcher Kantonalbank   9.000   7/21/2022  CHF    74.720
DZ Bank AG Deutsche    5.800   6/20/2022  EUR    74.520
EFG International Fi   7.210   6/16/2022  USD    41.490
Vontobel Financial P  13.000   6/24/2022  EUR    75.750
Vontobel Financial P   7.500   6/24/2022  EUR    75.400
Vontobel Financial P  19.000   6/24/2022  EUR    60.780
Societe Generale Eff   3.000   7/22/2022  USD    10.810
Zurcher Kantonalbank   9.800   6/17/2022  USD    43.750
Vontobel Financial P   8.000   6/24/2022  EUR    62.980
Vontobel Financial P  20.000   6/24/2022  EUR    72.760
Vontobel Financial P  16.000   6/24/2022  EUR    72.150
Vontobel Financial P  12.500   6/24/2022  EUR    44.100
Vontobel Financial P  10.500   6/24/2022  EUR    46.120
Vontobel Financial P  17.000   6/24/2022  EUR    40.810
Vontobel Financial P  19.000   6/24/2022  EUR    68.830
Vontobel Financial P  16.000   6/24/2022  EUR    71.760
Vontobel Financial P  18.000   6/24/2022  EUR    64.950
Vontobel Financial P  18.500   6/24/2022  EUR    64.790
Vontobel Financial P  16.500   6/24/2022  EUR    63.060
Credit Suisse AG/Lon  13.000   6/16/2022  CHF    59.590
UBS AG/London          9.000   6/16/2022  CHF    30.700
VTB Bank PJSC          0.010   06/01/2024 RUB    63.000
Vontobel Financial P  11.500   6/24/2022  EUR    68.450
Vontobel Financial P  14.000   6/24/2022  EUR    65.610
Vontobel Financial P   6.500   6/24/2022  EUR    63.440
Vontobel Financial P  17.000   6/24/2022  EUR    77.070
Vontobel Financial P   7.000   6/24/2022  EUR    51.110
Vontobel Financial P  15.000   6/24/2022  EUR    42.390
UBS AG/London         10.250   6/16/2022  CHF    29.520
Vontobel Financial P  19.500   6/24/2022  EUR    39.470
Vontobel Financial P  15.000   6/24/2022  EUR    73.250
Vontobel Financial P   9.000   6/24/2022  EUR    74.280
Vontobel Financial P   9.000   6/24/2022  EUR    74.160
Vontobel Financial P  14.500   6/24/2022  EUR    71.990
Vontobel Financial P   7.500   6/24/2022  EUR    63.990
Vontobel Financial P   8.500   6/24/2022  EUR    48.410
Vontobel Financial P  19.000   6/24/2022  EUR    75.510
Vontobel Financial P  19.500   6/24/2022  EUR    68.000
DZ Bank AG Deutsche   20.000   6/24/2022  EUR    29.770
DZ Bank AG Deutsche   17.600   6/24/2022  EUR    34.920
DZ Bank AG Deutsche   11.900   6/24/2022  EUR    74.220
Landesbank Baden-Wue   6.500   7/22/2022  EUR    73.150
Vontobel Financial P  11.000   6/24/2022  EUR    62.330
DZ Bank AG Deutsche   13.800   6/24/2022  EUR    69.080
DZ Bank AG Deutsche   12.000   6/24/2022  EUR    46.050
DZ Bank AG Deutsche   13.900   6/24/2022  EUR    43.890
Landesbank Baden-Wue   5.150   6/24/2022  EUR    73.650
Vontobel Financial P   6.000   6/24/2022  EUR    62.660
Vontobel Financial P  11.500   6/24/2022  EUR    77.220
Credit Suisse AG/Lon  18.500   12/04/2023 USD    74.000
Vontobel Financial P  12.250   6/28/2022  EUR    74.870
Reso-Leasing OOO       8.000   5/19/2031  RUB    79.990
Leonteq Securities A  12.000   06/07/2022 CHF    61.880
Credit Suisse AG/Lon  10.500   09/05/2022 EUR    67.650
Zurcher Kantonalbank   6.500   6/14/2022  CHF    59.480
Leonteq Securities A  10.000   12/07/2022 USD    69.070
Leonteq Securities A   9.000   09/07/2022 CHF    61.570
Leonteq Securities A   9.400   12/07/2022 EUR    71.790
Leonteq Securities A   8.000   12/07/2022 CHF    37.550
Zurcher Kantonalbank  14.000   6/14/2022  CHF    65.080
Zurcher Kantonalbank  10.000   6/14/2022  CHF    68.050
Zurcher Kantonalbank  15.000   6/14/2022  CHF    65.420
Credit Suisse AG/Lon  11.500   06/01/2022 EUR    65.610
Bank Vontobel AG      17.500   06/02/2022 CHF    49.800
Raiffeisen Centroban  10.735   9/21/2022  EUR    70.310
Vontobel Financial P   9.500   6/24/2022  EUR    68.210
Vontobel Financial P  11.250   6/24/2022  EUR    69.010
Vontobel Financial P   5.500   6/24/2022  EUR    66.720
Vontobel Financial P   6.250   6/24/2022  EUR    73.770
Vontobel Financial P  10.000   6/24/2022  EUR    52.220
Vontobel Financial P  16.000   6/24/2022  EUR    23.370
DZ Bank AG Deutsche    7.000   6/20/2022  EUR    70.680
DZ Bank AG Deutsche    9.500   6/20/2022  EUR    66.370
DZ Bank AG Deutsche    5.000   9/19/2022  EUR    66.920
DZ Bank AG Deutsche    5.800   6/20/2022  EUR    76.270
DZ Bank AG Deutsche    4.800   6/20/2022  EUR    76.290
DZ Bank AG Deutsche    5.500   6/20/2022  EUR    74.770
DZ Bank AG Deutsche    4.900   9/19/2022  EUR    75.910
Credit Suisse AG/Lon  10.000   06/07/2022 CHF    31.020
Vontobel Financial P   9.000   06/08/2022 EUR    38.760
Bank Julius Baer & C   8.000   09/08/2022 CHF    64.900
Bank Julius Baer & C   7.250   06/09/2022 CHF    70.250
Zurcher Kantonalbank  20.000   6/15/2022  USD    47.120
Raiffeisen Centroban   9.202   9/21/2022  EUR    69.110
Vontobel Financial P  13.750   6/24/2022  EUR    23.350
DekaBank Deutsche Gi   4.000   07/07/2022 EUR    51.270
DekaBank Deutsche Gi   2.450   4/25/2022  EUR    72.960
DZ Bank AG Deutsche   12.000   6/22/2022  EUR    59.850
DZ Bank AG Deutsche    6.500   6/22/2022  EUR    69.180
DZ Bank AG Deutsche    6.750   6/22/2022  EUR    66.130
DZ Bank AG Deutsche    5.250   6/22/2022  EUR    75.560
DZ Bank AG Deutsche   13.500   6/22/2022  EUR    71.230
DZ Bank AG Deutsche    8.250   6/22/2022  EUR    55.240
Leonteq Securities A  21.000   06/09/2022 CHF    34.160
Leonteq Securities A  22.870   06/09/2022 CHF    35.140
Credit Suisse AG/Lon  11.000   06/08/2022 USD    37.520
Credit Suisse AG/Lon  11.000   06/08/2022 CHF    60.480
Vontobel Financial P  18.650   06/09/2022 EUR    17.070
Goldman Sachs & Co W  19.000   5/25/2022  EUR    75.300
Goldman Sachs & Co W  25.000   5/25/2022  EUR    66.240
Goldman Sachs & Co W  18.000   7/20/2022  EUR    74.210
Bank Vontobel AG       6.504   12/05/2022 CHF    68.800
Bank Vontobel AG       6.504   12/05/2022 CHF    68.800
Bank Vontobel AG       9.000   12/05/2022 CHF    72.000
Bank Vontobel AG       9.004   12/05/2022 CHF    72.000
Bank Vontobel AG       7.508   12/05/2022 EUR    64.600
Bank Vontobel AG       7.504   12/05/2022 EUR    64.600
Bank Vontobel AG      10.000   12/05/2022 CHF    59.900
Bank Vontobel AG       7.756   06/06/2023 EUR    68.000
BNP Paribas Emission   4.000   6/23/2022  EUR    76.430
BNP Paribas Emission   5.000   6/23/2022  EUR    76.390
BNP Paribas Emission   5.000   6/23/2022  EUR    76.020
BNP Paribas Emission   5.000   6/23/2022  EUR    75.640
BNP Paribas Emission   6.000   6/23/2022  EUR    75.060
BNP Paribas Emission   6.000   6/23/2022  EUR    73.790
BNP Paribas Emission   3.000   6/23/2022  EUR    74.200
BNP Paribas Emission   3.000   6/23/2022  EUR    73.640
BNP Paribas Emission   3.000   6/23/2022  EUR    73.640
BNP Paribas Emission   3.000   6/23/2022  EUR    73.130
BNP Paribas Emission   5.000   9/22/2022  EUR    76.520
BNP Paribas Emission   6.000   9/22/2022  EUR    75.530
BNP Paribas Emission   6.000   9/22/2022  EUR    75.600
BNP Paribas Emission   3.000   9/22/2022  EUR    73.880
Landesbank Baden-Wue   5.000   6/24/2022  EUR    56.830
Vontobel Financial P   7.000   6/24/2022  EUR    63.240
Vontobel Financial P  10.000   6/24/2022  EUR    58.750
Vontobel Financial P  13.500   6/24/2022  EUR    55.080
Vontobel Financial P   7.500   6/24/2022  EUR    72.120
Vontobel Financial P   9.500   6/24/2022  EUR    69.200
Vontobel Financial P  11.500   6/24/2022  EUR    66.540
Vontobel Financial P   7.500   6/24/2022  EUR    71.110
Vontobel Financial P  13.500   6/24/2022  EUR    63.330
Vontobel Financial P  14.000   6/24/2022  EUR    64.210
Vontobel Financial P   6.000   6/24/2022  EUR    75.420
Vontobel Financial P   6.000   6/24/2022  EUR    73.450
Vontobel Financial P   9.000   6/24/2022  EUR    68.940
Vontobel Financial P  10.500   6/24/2022  EUR    66.930
Vontobel Financial P  12.000   6/24/2022  EUR    65.060
Vontobel Financial P   7.000   6/24/2022  EUR    62.070
Zurcher Kantonalbank   8.000   07/01/2022 CHF    62.600
Zurcher Kantonalbank   8.750   07/01/2022 CHF    72.660
Sberbank of Russia P   0.010   6/25/2026  RUB    68.000
Societe Generale Eff   6.750   7/22/2022  EUR    75.490
Societe Generale Eff   8.750   7/22/2022  EUR    72.100
Societe Generale Eff  12.000   7/22/2022  EUR    34.940
Societe Generale Eff  14.000   7/22/2022  EUR    33.240
Societe Generale Eff   8.500   7/22/2022  EUR    61.990
Societe Generale Eff  10.000   7/22/2022  EUR    69.930
Societe Generale Eff  11.000   7/22/2022  EUR    68.410
Vontobel Financial P   8.250   6/24/2022  EUR    75.200
Vontobel Financial P   5.750   6/24/2022  EUR    68.760
Vontobel Financial P  15.000   6/24/2022  EUR    72.000
Vontobel Financial P  15.000   6/24/2022  EUR    64.740
Vontobel Financial P  11.750   6/24/2022  EUR    72.400
Societe Generale Eff   9.000   7/22/2022  EUR    73.480
Societe Generale Eff  11.000   7/22/2022  EUR    69.390
Bank Julius Baer & C  11.000   6/27/2022  CHF    28.000
Vontobel Financial P  14.000   6/24/2022  EUR    39.970
Vontobel Financial P  18.500   6/24/2022  EUR    37.670
Vontobel Financial P   7.000   6/24/2022  EUR    46.770
Vontobel Financial P  20.000   6/24/2022  EUR    65.060
Leonteq Securities A  16.000   6/28/2022  CHF    30.750
Corner Banca SA       17.000   6/28/2022  EUR    73.120
Leonteq Securities A  14.000  12/28/2022  CHF    43.520
Leonteq Securities A  12.000   6/28/2022  CHF    17.900
Leonteq Securities A  13.000   6/28/2022  EUR    70.910
Leonteq Securities A  22.560   6/24/2022  CHF    22.160
Leonteq Securities A  26.030   6/24/2022  CHF    27.280
Raiffeisen Schweiz G  13.000   6/29/2022  CHF    44.380
Raiffeisen Schweiz G  11.000   6/29/2022  CHF    55.810
EFG International Fi  11.780   07/11/2022 USD    59.050
DZ Bank AG Deutsche    9.000   9/21/2022  EUR    61.520
DZ Bank AG Deutsche   11.000   9/21/2022  EUR    62.330
DZ Bank AG Deutsche    6.500   9/21/2022  EUR    65.610
DZ Bank AG Deutsche    6.000   6/22/2022  EUR    64.370
DZ Bank AG Deutsche    5.500   9/21/2022  EUR    74.450
DZ Bank AG Deutsche    5.750   9/21/2022  EUR    74.790
DZ Bank AG Deutsche    5.250   6/22/2022  EUR    67.080
DZ Bank AG Deutsche    6.000   9/21/2022  EUR    62.660
DZ Bank AG Deutsche    5.000   6/22/2022  EUR    73.590
DZ Bank AG Deutsche    6.000   6/22/2022  EUR    69.610
DZ Bank AG Deutsche    5.000   9/21/2022  EUR    70.460
Vontobel Financial P   4.150   7/18/2023  EUR    64.340
Vontobel Financial P   9.400  12/30/2022  CHF    31.890
Erste Group Bank AG   10.750   08/02/2022 EUR    54.100
Erste Group Bank AG    5.500   08/02/2025 EUR    62.500
Leonteq Securities A  20.000   6/29/2022  CHF    31.520
Zurcher Kantonalbank   8.000   07/07/2022 EUR    73.380
Leonteq Securities A   7.030   6/28/2023  CHF    71.730
UniCredit Bank AG     10.100   7/27/2022  EUR    46.190
UniCredit Bank AG      6.300   7/27/2022  EUR    42.000
UniCredit Bank AG      9.800   7/27/2022  EUR    75.620
UniCredit Bank AG      9.250   7/27/2022  EUR    65.750
Zurcher Kantonalbank   8.250   07/07/2022 CHF    76.890
Zurcher Kantonalbank  10.000   07/07/2022 CHF    72.920
Zurcher Kantonalbank  15.750   07/08/2022 USD    48.810
Bank Vontobel AG       6.500   6/26/2023  CHF    59.400
Bank Vontobel AG       6.502   6/26/2023  CHF    59.300
Bank Vontobel AG       7.000  12/27/2022  CHF    58.200
Bank Vontobel AG       5.750   6/26/2023  CHF    69.900
Zurcher Kantonalbank  10.400   07/08/2022 CHF    59.010
Landesbank Baden-Wue   4.150   6/23/2023  EUR    49.540
Landesbank Baden-Wue   2.800   6/23/2023  EUR    51.970
Landesbank Baden-Wue   6.650   6/23/2023  EUR    74.430
Landesbank Baden-Wue   3.800   6/23/2023  EUR    49.960
Landesbank Baden-Wue   2.600   6/23/2023  EUR    53.020
Landesbank Baden-Wue   4.500   6/23/2023  EUR    68.880
Landesbank Baden-Wue   3.350   6/23/2023  EUR    71.060
Landesbank Baden-Wue   2.250   6/23/2023  EUR    74.640
Landesbank Baden-Wue   7.300   6/23/2023  EUR    72.270
Landesbank Baden-Wue   5.350   6/23/2023  EUR    66.260
Landesbank Baden-Wue   4.650   6/23/2023  EUR    67.830
Landesbank Baden-Wue   3.400   6/23/2023  EUR    71.440
Landesbank Baden-Wue   3.500   6/23/2023  EUR    70.080
Landesbank Baden-Wue   2.500   6/23/2023  EUR    76.520
Landesbank Baden-Wue   5.000   6/23/2023  EUR    47.620
Landesbank Baden-Wue   7.250   6/23/2023  EUR    45.410
Landesbank Baden-Wue   5.600   6/23/2023  EUR    47.140
Landesbank Baden-Wue   2.700   6/23/2023  EUR    53.320
Landesbank Baden-Wue   2.650   6/23/2023  EUR    72.680
Landesbank Baden-Wue   1.800   6/23/2023  EUR    75.460
Basler Kantonalbank   10.000   9/30/2022  CHF    76.070
Raiffeisen Switzerla  10.500   07/11/2024 USD    14.570
Vontobel Financial P  15.000   6/24/2022  EUR    67.480
Vontobel Financial P  12.000   6/24/2022  EUR    70.610
Zurcher Kantonalbank  17.000   6/24/2022  CHF    73.400
Goldman Sachs & Co W   8.000   5/25/2022  EUR    71.460
Goldman Sachs & Co W  10.000   7/20/2022  EUR    73.080
Goldman Sachs & Co W   8.000   6/21/2023  EUR    78.060
Bank Julius Baer & C   9.650   7/29/2022  USD    57.500
Sberbank of Russia P   0.010   06/04/2026 RUB    62.800
Bank Julius Baer & C   8.800   09/05/2022 EUR    62.200
Sberbank of Russia P   0.010   06/02/2028 RUB    69.300
Erste Group Bank AG    7.250   6/30/2026  EUR    77.300
UniCredit Bank AG      5.250   07/01/2024 EUR    72.550
UBS AG/London          7.750   5/31/2023  CHF    73.100
UBS AG/London          8.500  11/30/2022  CHF    55.300
UBS AG/London         12.000  11/30/2022  EUR    33.750
UniCredit Bank AG      7.750   5/27/2022  EUR    68.680
Vontobel Financial P   9.000   6/24/2022  EUR    71.650
Vontobel Financial P  17.000   6/24/2022  EUR    70.950
Vontobel Financial P  13.500   6/24/2022  EUR    69.190
Zurcher Kantonalbank  11.200   6/30/2022  CHF    63.280
Zurcher Kantonalbank   6.400   11/07/2022 USD    37.190
Zurcher Kantonalbank  11.000   6/24/2022  CHF    64.870
Zurcher Kantonalbank  20.250   6/24/2022  CHF    57.560
Zurcher Kantonalbank   8.000   05/05/2022 CHF    69.330
Zurcher Kantonalbank  21.500   6/24/2022  USD    47.930
Zurcher Kantonalbank  14.000   6/24/2022  CHF    29.460
Societe Generale Eff  16.500   6/24/2022  EUR    71.960
Societe Generale Eff  10.250   6/24/2022  EUR    51.550
Societe Generale Eff   7.750   7/22/2022  EUR    73.680
Societe Generale Eff   4.500   7/22/2022  EUR    72.160
Societe Generale Eff   6.500   7/22/2022  EUR    66.150
Societe Generale Eff  10.500   7/22/2022  EUR    58.870
Societe Generale Eff   7.000   7/22/2022  EUR    75.440
Societe Generale Eff   8.000   7/22/2022  EUR    73.400
Societe Generale Eff   9.000   7/22/2022  EUR    71.580
Vontobel Financial P  12.250   6/24/2022  EUR    61.560
Vontobel Financial P  16.750   6/24/2022  EUR    71.320
Societe Generale Eff   8.000   7/22/2022  EUR    77.310
Societe Generale Eff  10.000   7/22/2022  EUR    73.530
Societe Generale Eff   4.000   7/22/2022  EUR    51.720
Societe Generale Eff   6.000   7/22/2022  EUR    44.600
Societe Generale Eff   8.000   7/22/2022  EUR    40.100
Societe Generale Eff  10.000   7/22/2022  EUR    37.080
Vontobel Financial P   9.500   6/24/2022  EUR    40.670
Vontobel Financial P  12.000   6/24/2022  EUR    67.340
Societe Generale Eff  13.000   7/22/2022  EUR    66.140
Societe Generale Eff   6.250   7/22/2022  EUR    73.510
Societe Generale Eff   7.250   7/22/2022  EUR    71.200
Societe Generale Eff   8.250   7/22/2022  EUR    69.130
Bank Julius Baer & C   9.000   6/27/2022  CHF    58.400
Vontobel Financial P  10.500   6/24/2022  EUR    43.010
Societe Generale Eff   3.000   6/24/2022  EUR    59.050
Leonteq Securities A   8.000   6/28/2023  CHF    68.810
Leonteq Securities A  18.000   9/28/2022  CHF    58.810
Corner Banca SA       14.000   9/28/2022  CHF    60.480
Leonteq Securities A  17.000   6/28/2022  CHF    30.690
Leonteq Securities A  14.000   6/24/2022  CHF    71.080
Leonteq Securities A   6.400   6/28/2023  CHF    60.430
Leonteq Securities A  17.000   6/28/2022  USD    51.810
Raiffeisen Schweiz G  12.000   6/29/2022  CHF    66.410
Raiffeisen Schweiz G  10.000   6/29/2022  CHF    58.330
Raiffeisen Schweiz G  20.000   6/29/2022  CHF    29.360
DZ Bank AG Deutsche   10.750   9/21/2022  EUR    72.560
DZ Bank AG Deutsche    7.250   6/22/2022  EUR    63.430
DZ Bank AG Deutsche    8.500   9/21/2022  EUR    63.320
DZ Bank AG Deutsche    4.750   9/21/2022  EUR    74.690
DZ Bank AG Deutsche    6.750   9/21/2022  EUR    60.610
DZ Bank AG Deutsche    5.750   6/22/2022  EUR    65.100
Landesbank Baden-Wue   3.400  11/25/2022  EUR    60.720
SG Issuer SA           5.000   04/02/2024 EUR    54.570
Landesbank Baden-Wue   3.400   1/27/2023  EUR    65.410
SG Issuer SA           5.000   5/23/2024  EUR    57.780
UniCredit Bank AG      5.150   01/02/2023 EUR    62.600
Citigroup Global Mar  13.200  12/18/2023  SEK    67.320
Vontobel Financial P  14.500   6/24/2022  EUR    61.250
Vontobel Financial P  10.000   6/24/2022  EUR    67.780
Vontobel Financial P  21.000   6/24/2022  EUR    53.910
Vontobel Financial P  19.000   6/24/2022  EUR    56.110
Vontobel Financial P  15.000   6/24/2022  EUR    69.610
Vontobel Financial P  16.500   6/24/2022  EUR    69.850
Vontobel Financial P   5.550   5/18/2022  EUR    49.530
Raiffeisen Schweiz G  12.000   8/17/2022  CHF    63.490
Raiffeisen Schweiz G   6.500  11/17/2023  CHF    75.720
Vontobel Financial P  15.500   6/24/2022  EUR    67.530
Bank Julius Baer & C  11.200   5/18/2022  CHF    34.350
Bank Julius Baer & C   7.300   5/18/2022  CHF    66.150
Zurcher Kantonalbank  27.000   5/27/2022  USD    66.060
Bank Vontobel AG       6.505   2/20/2023  EUR    67.800
Bank Vontobel AG      10.508   8/19/2022  CHF    36.900
Bank Vontobel AG      10.507   8/19/2022  CHF    36.900
Leonteq Securities A  15.000   8/19/2022  CHF    69.630
Corner Banca SA       19.000   5/23/2022  USD    27.090
Leonteq Securities A  19.000   5/23/2022  USD    61.300
Leonteq Securities A   5.700   8/19/2022  USD    51.590
DZ Bank AG Deutsche    5.000   6/22/2022  EUR    68.540
DZ Bank AG Deutsche    5.000   6/22/2022  EUR    72.420
Bank Julius Baer & C   8.800   5/23/2022  CHF    54.550
DZ Bank AG Deutsche   11.000   6/22/2022  EUR    70.170
Raiffeisen Switzerla   7.700   8/19/2022  CHF    63.970
Bank Vontobel AG      20.004   08/10/2022 CHF    39.100
EFG International Fi  13.000   8/24/2022  CHF    46.030
EFG International Fi   8.200   03/01/2023 USD    45.050
Bank Vontobel AG       7.508   05/12/2022 CHF    62.700
Bank Vontobel AG       6.507   8/17/2022  CHF    69.200
Bank Vontobel AG       6.505   2/27/2023  CHF    59.000
Leonteq Securities A  10.000   06/01/2022 CHF    44.100
Leonteq Securities A   8.000   03/01/2023 CHF    62.200
Leonteq Securities A  11.000   8/26/2022  CHF    37.190
DZ Bank AG Deutsche   16.400   6/24/2022  EUR    59.870
DZ Bank AG Deutsche    9.500   7/22/2022  EUR    67.210
DZ Bank AG Deutsche   10.000   7/22/2022  EUR    68.830
DZ Bank AG Deutsche   10.800   7/22/2022  EUR    71.290
EFG International Fi   6.600   4/29/2022  CHF    72.530
Raiffeisen Switzerla   8.200   11/03/2022 CHF    44.860
Raiffeisen Switzerla   7.000   05/03/2023 CHF    70.260
Vontobel Financial P  11.500   9/23/2022  EUR    71.620
Vontobel Financial P   8.000   9/23/2022  EUR    75.200
Vontobel Financial P  11.500   9/23/2022  EUR    69.550
Vontobel Financial P  14.000   9/23/2022  EUR    67.500
Vontobel Financial P   9.000   6/24/2022  EUR    73.590
Vontobel Financial P  12.000   6/24/2022  EUR    72.570
Vontobel Financial P  14.000   6/24/2022  EUR    69.270
Vontobel Financial P  14.500   9/23/2022  EUR    74.950
Societe Generale SA   15.000   8/30/2024  USD    33.200
Vontobel Financial P  11.000   6/24/2022  EUR    75.100
Vontobel Financial P  16.000   6/24/2022  EUR    68.550
Vontobel Financial P  18.500   6/24/2022  EUR    65.700
Vontobel Financial P   7.000   6/24/2022  EUR    47.620
Bank Vontobel AG      11.006  10/31/2022  CHF    70.800
Bank Vontobel AG      16.500   08/05/2022 CHF    48.700
UBS AG/London         13.000   05/06/2024 USD    39.420
EFG International Fi   6.080   05/05/2022 USD    38.840
Raiffeisen Switzerla   7.000   8/19/2022  CHF    59.290
UBS AG/London          6.500   8/24/2022  CHF    21.960
EFG International Fi  15.000   8/24/2022  CHF    61.500
Leonteq Securities A   9.000   8/26/2022  CHF    59.640
Leonteq Securities A  14.000   8/26/2022  USD    31.810
Leonteq Securities A  12.000   06/01/2022 CHF    26.920
Leonteq Securities A  10.000   5/19/2022  CHF    35.790
DZ Bank AG Deutsche    8.000   6/20/2022  EUR    69.490
Raiffeisen Centroban  10.000   3/24/2023  EUR    41.030
Leonteq Securities A  14.000   5/19/2022  CHF    32.800
EFG International Fi   4.500   2/26/2024  USD    53.180
Bank Vontobel AG       7.500   7/18/2022  CHF    67.600
Leonteq Securities A  10.000   1/19/2023  USD    23.740
Leonteq Securities A  11.000   1/19/2023  CHF    60.730
Leonteq Securities A  12.000   6/28/2022  CHF    64.030
Vontobel Financial P   7.000   9/23/2022  EUR    51.220
Vontobel Financial P  15.500   6/24/2022  EUR    41.930
Vontobel Financial P   4.500   9/23/2022  EUR    63.360
Vontobel Financial P   7.500   9/23/2022  EUR    57.560
Vontobel Financial P  13.500   9/23/2022  EUR    51.920
Vontobel Financial P   8.500   6/24/2022  EUR    55.630
Vontobel Financial P   9.500   6/24/2022  EUR    43.070
Vontobel Financial P  11.000   6/24/2022  EUR    41.770
Vontobel Financial P  13.500   9/23/2022  EUR    41.760
Vontobel Financial P  14.500   6/24/2022  EUR    39.570
Vontobel Financial P  12.500   6/24/2022  EUR    40.580
EFG International Fi   7.000  12/29/2022  USD     6.350
Credit Suisse AG/Lon  16.300  12/26/2023  USD    46.920
EFG International Fi   8.160   2/26/2025  EUR    75.240
Vontobel Financial P  18.500   6/24/2022  EUR    65.390
Vontobel Financial P  18.500   6/24/2022  EUR    73.930
Vontobel Financial P  14.500   6/24/2022  EUR    65.250
Vontobel Financial P  14.500   6/24/2022  EUR    61.700
Vontobel Financial P  16.000   6/24/2022  EUR    53.310
Vontobel Financial P  20.500   6/24/2022  EUR    59.460
Vontobel Financial P  11.000   6/24/2022  EUR    70.040
Vontobel Financial P  18.000   6/24/2022  EUR    55.950
EFG International Fi   6.100   4/29/2022  CHF    72.030
Zurcher Kantonalbank   8.500   08/11/2022 CHF    67.780
Raiffeisen Switzerla   6.500   11/03/2022 CHF    65.690
Raiffeisen Schweiz G  12.000   05/03/2022 USD    42.350
Landesbank Baden-Wue   3.000   8/26/2022  EUR    76.110
Landesbank Baden-Wue   5.000   8/26/2022  EUR    71.270
Societe Generale SA   16.000   8/30/2024  USD    28.200
Vontobel Financial P  15.500   6/24/2022  EUR    74.050
Vontobel Financial P   7.000   6/24/2022  EUR    77.480
Vontobel Financial P  15.500   6/24/2022  EUR    65.850
Vontobel Financial P  12.500   6/24/2022  EUR    68.610
Vontobel Financial P  16.000   9/23/2022  EUR    65.520
Vontobel Financial P  11.500   9/23/2022  EUR    73.270
Vontobel Financial P  14.000   6/24/2022  EUR    70.940
Vontobel Financial P  13.500   9/23/2022  EUR    69.870
Vontobel Financial P   8.500   6/24/2022  EUR    78.740
Vontobel Financial P  13.000   9/23/2022  EUR    43.330
Vontobel Financial P  13.500   6/24/2022  EUR    71.700
Vontobel Financial P  12.000   6/24/2022  EUR    42.720
Vontobel Financial P   9.500   9/23/2022  EUR    45.860
Vontobel Financial P   8.500   6/24/2022  EUR    45.790
DZ Bank AG Deutsche    5.250   6/22/2022  EUR    73.090
DZ Bank AG Deutsche    5.000   6/22/2022  EUR    70.320
BrokerCreditService   14.000   09/09/2022 USD    45.000
Bank Vontobel AG       9.006  10/31/2022  CHF    35.100
Bank Vontobel AG      11.501   05/02/2022 EUR    68.700
Zurcher Kantonalbank   6.100   2/13/2023  EUR    72.110
Societe Generale SA   10.000   8/30/2024  USD    47.850
Sberbank of Russia P   0.010   08/06/2026 RUB    70.900
Bank Julius Baer & C   8.400   08/08/2022 EUR    70.750
Bank Julius Baer & C  15.000   08/04/2022 CHF    33.150
Vontobel Financial P  18.000   6/24/2022  EUR    60.970
Vontobel Financial P   7.500   6/24/2022  EUR    71.660
Vontobel Financial P   8.000   6/24/2022  EUR    69.350
Vontobel Financial P  16.500   6/24/2022  EUR    54.340
Leonteq Securities A  28.120   08/04/2022 CHF    36.030
Leonteq Securities A   3.280   08/03/2022 EUR    75.850
DZ Bank AG Deutsche   13.700   9/23/2022  EUR    62.970
DZ Bank AG Deutsche   12.900   9/23/2022  EUR    72.250
Zurcher Kantonalbank   7.000   08/11/2022 CHF    70.700
Sberbank of Russia P   0.010   08/05/2026 RUB    68.300
Vontobel Financial P   5.500   09/09/2022 EUR    75.630
DekaBank Deutsche Gi   1.000   1/20/2025  EUR    44.660
Sberbank of Russia P   0.010  12/17/2025  RUB    63.100
UBS AG/London          7.500   6/23/2022  CHF    61.050
UBS AG/London         13.000   6/23/2022  CHF    35.150
UBS AG/London          8.750   6/23/2022  CHF    34.550
Bank Vontobel AG      10.500   1/16/2023  CHF    53.600
Bank Vontobel AG      10.000   1/16/2023  EUR    75.100
Bank Vontobel AG      10.000   7/18/2022  EUR    69.600
DekaBank Deutsche Gi   2.500   02/02/2024 EUR    54.930
Leonteq Securities A  10.000   7/19/2022  CHF    18.700
Vontobel Financial P   6.000   6/24/2022  EUR    51.960
Vontobel Financial P   6.000   9/23/2022  EUR    60.250
Vontobel Financial P   9.500   9/23/2022  EUR    55.390
Vontobel Financial P  13.500   6/24/2022  EUR    50.750
Vontobel Financial P   8.000   6/24/2022  EUR    44.480
Vontobel Financial P  12.000   9/23/2022  EUR    42.400
Vontobel Financial P  16.000   6/24/2022  EUR    38.570
EFG International Fi   4.900  12/28/2023  USD    58.900
Leonteq Securities A  16.000   6/21/2022  USD    32.270
Leonteq Securities A  12.000   7/15/2022  CHF    55.540
Leonteq Securities A  24.610   7/15/2022  CHF    46.990
Leonteq Securities A  20.000   7/13/2022  CHF    35.080
Leonteq Securities A   9.000   7/15/2022  CHF    67.340
Vontobel Financial P  14.500   6/24/2022  EUR    62.940
Vontobel Financial P  12.000   6/24/2022  EUR    70.740
EFG International Fi  18.000   7/14/2022  CHF    71.750
Societe Generale Eff  14.000   6/24/2022  EUR    67.030
Raiffeisen Schweiz G  13.200   08/02/2022 USD    29.510
Zurcher Kantonalbank  29.250   08/09/2022 CHF    50.970
Credit Suisse AG/Lon   8.000   08/03/2022 CHF    33.900
Vontobel Financial P  19.000   6/24/2022  EUR    61.130
Bank Julius Baer & C   8.250   05/04/2022 CHF    61.000
DZ Bank AG Deutsche   11.100   7/22/2022  EUR    74.920
DZ Bank AG Deutsche   12.300   7/22/2022  EUR    63.800
DZ Bank AG Deutsche   15.600   6/24/2022  EUR    69.390
DZ Bank AG Deutsche   11.800   7/22/2022  EUR    73.260
Credit Suisse AG/Lon   7.250   9/19/2022  CHF    79.540
Credit Suisse AG/Lon  11.000   6/20/2022  USD    37.760
Raiffeisen Schweiz G  12.500   08/02/2022 CHF    40.000
Zurcher Kantonalbank  19.000   08/10/2022 CHF    60.220
DZ Bank AG Deutsche    7.250   8/24/2022  EUR    65.730
Vontobel Financial P  11.000   6/24/2022  EUR    64.120
Vontobel Financial P  12.000   6/24/2022  EUR    66.440
Vontobel Financial P  15.000   6/24/2022  EUR    58.250
Vontobel Financial P  17.000   6/24/2022  EUR    60.810
Bank Julius Baer & C   7.650   05/04/2022 CHF    73.000
Corner Banca SA       14.000   11/02/2022 CHF    31.880
Zurcher Kantonalbank  14.000   05/11/2022 CHF    71.370
Leonteq Securities A  10.000   1/30/2023  USD    38.590
Leonteq Securities A  20.000   08/03/2022 CHF    34.840
DZ Bank AG Deutsche    6.250   8/24/2022  EUR    70.760
DZ Bank AG Deutsche    8.000   8/24/2022  EUR    70.090
DZ Bank AG Deutsche    6.750   9/21/2022  EUR    78.240
Raiffeisen Schweiz G  10.000   08/02/2022 CHF    45.000
Raiffeisen Schweiz G  13.000   08/02/2022 CHF    62.520
Zurcher Kantonalbank  12.750   05/11/2022 CHF    62.370
Vontobel Financial P  15.750   08/03/2022 EUR    28.200
Vontobel Financial P  19.000   6/24/2022  EUR    53.590
Leonteq Securities A  11.000   7/29/2022  CHF    65.490
Vontobel Financial P  12.500   6/24/2022  EUR    71.380
Vontobel Financial P  14.750   6/24/2022  EUR    27.120
Vontobel Financial P  17.750   6/24/2022  EUR    30.350
Vontobel Financial P  11.750   6/24/2022  EUR    36.900
Corner Banca SA       12.500  10/31/2022  CHF    76.420
UniCredit Bank AG      4.250   07/01/2022 USD    73.820
Societe Generale Eff   8.750   6/24/2022  EUR    31.980
Zurcher Kantonalbank  12.500   08/09/2022 EUR    54.940
Bank Vontobel AG       7.550   1/30/2023  CHF    68.300
DZ Bank AG Deutsche    5.000   8/24/2022  EUR    77.530
DZ Bank AG Deutsche    5.750   9/21/2022  EUR    68.570
DZ Bank AG Deutsche    5.250   6/22/2022  EUR    57.010
Societe Generale Eff   3.000   6/24/2022  EUR    47.220
Bank Julius Baer & C   9.500   11/03/2022 CHF    67.150
Zurcher Kantonalbank  20.000   08/10/2022 USD    50.060
Zurcher Kantonalbank  30.000   08/09/2022 USD    36.720
DZ Bank AG Deutsche    6.750  12/21/2022  EUR    75.440
Leonteq Securities A   6.200   5/20/2022  EUR    52.940
Societe Generale Eff   5.750   5/27/2022  EUR    49.870
Societe Generale Eff  15.750   5/27/2022  EUR    32.800
Vontobel Financial P  12.250   6/24/2022  EUR    64.290
Vontobel Financial P  10.500   6/24/2022  EUR    51.190
Landesbank Baden-Wue   3.500  12/22/2023  EUR    73.310
DZ Bank AG Deutsche    5.000   6/20/2022  EUR    75.380
DZ Bank AG Deutsche    6.500   6/20/2022  EUR    72.620
VTB Bank PJSC          0.010   7/29/2026  RUB    58.000
Raiffeisen Schweiz G  13.000  10/18/2022  CHF    34.660
Leonteq Securities A  24.240  10/19/2022  CHF    40.050
UniCredit Bank AG      6.800  11/16/2022  EUR    34.710
UniCredit Bank AG      5.050  11/16/2022  EUR    51.390
Societe Generale Eff  18.000   5/27/2022  EUR    75.410
Vontobel Financial P  15.000  12/23/2022  EUR    74.460
Vontobel Financial P  16.500  12/23/2022  EUR    71.750
Vontobel Financial P  14.000  12/23/2022  EUR    73.810
Vontobel Financial P  14.500  12/23/2022  EUR    75.090
Vontobel Financial P  11.000  12/23/2022  EUR    72.090
Vontobel Financial P   4.500  12/23/2022  EUR    75.240
Vontobel Financial P   8.500  12/23/2022  EUR    70.920
Sberbank of Russia P   0.010   06/03/2026 RUB    68.800
DZ Bank AG Deutsche   15.400   6/24/2022  EUR    71.170
EFG International Fi  24.000   06/07/2022 USD    25.850
Raiffeisen Schweiz G   8.000  11/28/2022  CHF    70.090
Zurcher Kantonalbank  10.500   06/10/2022 CHF    70.930
Zurcher Kantonalbank  19.000   06/10/2022 USD    53.660
Zurcher Kantonalbank  22.750   06/10/2022 USD    38.260
Zurcher Kantonalbank  21.750   06/10/2022 CHF    48.780
Zurcher Kantonalbank  13.000   06/10/2022 CHF    44.440
Raiffeisen Schweiz G  12.000   06/01/2022 CHF    44.960
Raiffeisen Schweiz G  14.000   06/01/2022 CHF    68.110
Vontobel Financial P  26.350   06/06/2022 EUR    31.710
Vontobel Financial P  20.000   6/24/2022  EUR    32.670
Vontobel Financial P  16.500   6/24/2022  EUR    18.960
Vontobel Financial P  14.500   6/24/2022  EUR    72.230
Societe Generale SA   18.000   07/03/2024 USD    40.000
UniCredit Bank AG     13.300   07/07/2022 EUR    71.530
Sberbank of Russia P   0.010   7/24/2025  RUB    77.000
DekaBank Deutsche Gi   2.800   09/01/2023 EUR    66.540
Landesbank Baden-Wue   3.100   8/26/2022  EUR    73.860
Goldman Sachs & Co W  25.000   5/25/2022  EUR    74.690
Goldman Sachs & Co W  10.000   5/25/2022  EUR    71.740
Goldman Sachs & Co W  23.000   5/25/2022  EUR    52.900
Goldman Sachs & Co W   9.000   6/22/2022  EUR    72.330
Goldman Sachs & Co W  18.000   6/22/2022  EUR    58.840
Goldman Sachs & Co W  14.000   9/21/2022  EUR    63.990
Goldman Sachs & Co W  10.000  12/21/2022  EUR    71.110
Goldman Sachs & Co W  15.000  12/21/2022  EUR    62.990
Goldman Sachs & Co W  16.000  12/21/2022  EUR    61.810
Goldman Sachs & Co W   6.000   3/22/2023  EUR    75.690
Goldman Sachs & Co W   8.000   3/22/2023  EUR    74.500
Goldman Sachs & Co W  15.000   3/22/2023  EUR    65.140
Bank Julius Baer & C   6.600   7/13/2022  CHF    64.500
Sberbank of Russia P   0.010   08/07/2025 RUB    66.700
VTB Bank PJSC          0.010   7/25/2023  RUB    67.000
Sberbank of Russia P   1.219   7/23/2025  RUB    71.200
Basler Kantonalbank    7.600   4/13/2023  CHF    66.360
Bank Vontobel AG       8.001   10/07/2022 CHF    38.900
Bank Vontobel AG       6.008   04/11/2023 EUR    66.200
Bank Vontobel AG      10.010   10/07/2022 EUR    71.600
Raiffeisen Schweiz G   6.500   07/12/2022 CHF    64.350
Vontobel Financial P   8.500   6/24/2022  EUR    72.540
Vontobel Financial P  10.000   6/24/2022  EUR    70.290
Vontobel Financial P  14.500   6/24/2022  EUR    63.490
Vontobel Financial P  10.500   6/24/2022  EUR    69.180
Vontobel Financial P   9.000   6/24/2022  EUR    69.480
Vontobel Financial P  12.000   6/24/2022  EUR    64.050
Vontobel Financial P   8.000   6/24/2022  EUR    72.680
Vontobel Financial P   2.000   6/24/2022  EUR    71.480
Vontobel Financial P  11.500   6/24/2022  EUR    56.820
Vontobel Financial P   7.000   6/24/2022  EUR    61.600
Vontobel Financial P   7.500   6/24/2022  EUR    73.850
Vontobel Financial P  15.000   6/24/2022  EUR    60.670
Vontobel Financial P  11.000   6/24/2022  EUR    66.460
Vontobel Financial P  14.000   6/24/2022  EUR    61.690
Vontobel Financial P  19.000   6/24/2022  EUR    56.030
Vontobel Financial P   8.500   6/24/2022  EUR    70.620
Vontobel Financial P  13.500   6/24/2022  EUR    62.850
Vontobel Financial P  19.500   6/24/2022  EUR    55.160
Vontobel Financial P  17.500   6/24/2022  EUR    57.780
Vontobel Financial P   6.500   6/24/2022  EUR    76.110
Vontobel Financial P   3.500   6/24/2022  EUR    67.760
Vontobel Financial P  15.000   6/24/2022  EUR    73.680
Vontobel Financial P   6.500   6/24/2022  EUR    75.500
Basler Kantonalbank    9.400   05/05/2022 CHF    67.930
Vontobel Financial P   5.500   6/24/2022  EUR    58.090
Vontobel Financial P  10.000   6/24/2022  EUR    69.460
UBS AG/London          7.250  10/21/2022  EUR    75.900
UBS AG/London         13.250  10/21/2022  CHF    57.300
UBS AG/London         13.250  10/21/2022  CHF    61.300
Vontobel Financial P  11.500   6/24/2022  EUR    46.280
Vontobel Financial P  17.500   6/24/2022  EUR    64.010
Vontobel Financial P  15.500   6/24/2022  EUR    71.950
Leonteq Securities A  21.530   5/17/2022  CHF    24.390
UniCredit Bank AG      6.500   9/15/2022  EUR    32.170
UniCredit Bank AG      8.500   6/16/2022  EUR    46.590
Bank Julius Baer & C   9.300   7/22/2022  USD    53.900
Vontobel Financial P   6.000   6/24/2022  EUR    34.480
Vontobel Financial P  11.000   6/24/2022  EUR    30.120
Vontobel Financial P  13.000   6/24/2022  EUR    28.410
Vontobel Financial P  15.500   6/24/2022  EUR    64.410
Vontobel Financial P   8.500   6/24/2022  EUR    32.090
Raiffeisen Switzerla  12.000   7/19/2022  EUR    64.970
Vontobel Financial P   8.000   6/24/2022  EUR    40.720
Vontobel Financial P  13.000   6/24/2022  EUR    35.450
Vontobel Financial P  16.000   6/24/2022  EUR    33.540
Vontobel Financial P   5.500   6/24/2022  EUR    44.250
Vontobel Financial P  15.500   6/24/2022  EUR    53.760
Vontobel Financial P  13.500   6/24/2022  EUR    56.470
Vontobel Financial P   7.000   6/24/2022  EUR    45.220
Vontobel Financial P   9.000   6/24/2022  EUR    42.210
Vontobel Financial P   6.000   6/24/2022  EUR    46.930
Vontobel Financial P  11.500   6/24/2022  EUR    39.740
Vontobel Financial P  10.500   6/24/2022  EUR    40.960
Vontobel Financial P   8.000   6/24/2022  EUR    43.600
Vontobel Financial P  13.000   6/24/2022  EUR    38.700
Vontobel Financial P  16.500   6/24/2022  EUR    35.870
Vontobel Financial P  15.500   6/24/2022  EUR    36.770
Vontobel Financial P  14.000   6/24/2022  EUR    37.660
Vontobel Financial P  10.500   6/24/2022  EUR    37.830
Vontobel Financial P   9.000   6/24/2022  EUR    62.910
Vontobel Financial P  11.000   6/24/2022  EUR    59.420
Vontobel Financial P   8.000   6/24/2022  EUR    63.340
Vontobel Financial P  17.000   6/24/2022  EUR    52.360
Vontobel Financial P  11.500   6/24/2022  EUR    70.990
Vontobel Financial P  10.500   6/24/2022  EUR    58.960
Vontobel Financial P   5.500   6/24/2022  EUR    68.560
Vontobel Financial P  14.000   6/24/2022  EUR    55.430
Vontobel Financial P   6.000   6/24/2022  EUR    58.240
Landesbank Baden-Wue   2.750   9/23/2022  EUR    58.970
UniCredit Bank AG      3.000   11/12/2022 EUR    61.090
DZ Bank AG Deutsche   16.000   9/23/2022  EUR    62.810
DZ Bank AG Deutsche    8.100  12/23/2022  EUR    70.440
DZ Bank AG Deutsche   13.600  12/23/2022  EUR    64.850
DZ Bank AG Deutsche   12.100  12/23/2022  EUR    73.470
DZ Bank AG Deutsche   12.500   9/23/2022  EUR    73.330
DZ Bank AG Deutsche   10.400  12/23/2022  EUR    74.630
DZ Bank AG Deutsche    7.700  12/23/2022  EUR    72.340
DZ Bank AG Deutsche   12.200  12/23/2022  EUR    68.280
DZ Bank AG Deutsche   16.800  12/23/2022  EUR    64.150
Societe Generale Eff   9.000  10/28/2022  EUR    71.590
Societe Generale Eff   7.750   5/27/2022  EUR    76.600
Societe Generale Eff   8.750   5/27/2022  EUR    75.060
Societe Generale Eff   9.750   5/27/2022  EUR    73.740
Societe Generale Eff  10.750   5/27/2022  EUR    72.540
Societe Generale Eff  11.750   5/27/2022  EUR    71.480
Societe Generale Eff  12.750   5/27/2022  EUR    70.510
Societe Generale Eff  11.000   6/24/2022  EUR    72.680
Societe Generale Eff  10.000   7/22/2022  EUR    74.130
Societe Generale Eff   8.000   8/26/2022  EUR    76.960
Societe Generale Eff   8.750  10/28/2022  EUR    76.010
Vontobel Financial P   9.500  12/23/2022  EUR    33.760
Zurcher Kantonalbank  20.500   11/04/2022 CHF    67.550
Vontobel Financial P   7.000  12/23/2022  EUR    75.910
Vontobel Financial P  13.000  12/23/2022  EUR    71.140
Vontobel Financial P  15.000  12/23/2022  EUR    70.580
Vontobel Financial P  11.500  12/23/2022  EUR    72.150
Vontobel Financial P  16.500  12/23/2022  EUR    69.790
Vontobel Financial P  10.000  12/23/2022  EUR    73.270
Vontobel Financial P  15.500  12/23/2022  EUR    73.070
Vontobel Financial P  12.000  12/23/2022  EUR    74.860
Vontobel Financial P  14.500  12/23/2022  EUR    73.720
Vontobel Financial P  13.000  12/23/2022  EUR    74.100
UBS AG/London          7.250   11/10/2023 CHF    62.500
UBS AG/London         14.000   11/10/2022 CHF    75.500
UBS AG/London          8.500   11/10/2023 CHF    75.300
UBS AG/London          9.250   11/10/2023 CHF    70.050
UBS AG/London          9.750   05/10/2023 USD    63.850
Vontobel Financial P   8.500  12/23/2022  EUR    74.760
Vontobel Financial P  14.000  12/23/2022  EUR    70.560
Vontobel Financial P   7.500  12/23/2022  EUR    66.280
Vontobel Financial P  11.000  12/23/2022  EUR    68.590
Vontobel Financial P   6.000  12/23/2022  EUR    65.460
Vontobel Financial P   8.000  12/23/2022  EUR    68.320
Vontobel Financial P   5.000  12/23/2022  EUR    65.700
Raiffeisen Switzerla  17.500   11/08/2022 USD    52.620
Raiffeisen Schweiz G   7.700   11/08/2023 CHF    71.140
Societe Generale Eff  11.250   7/22/2022  EUR    72.040
Societe Generale Eff  12.250   7/22/2022  EUR    71.010
Societe Generale Eff  13.250   7/22/2022  EUR    70.080
Societe Generale Eff   9.250   8/26/2022  EUR    74.590
Societe Generale Eff  10.250   8/26/2022  EUR    73.260
Societe Generale Eff  11.250   8/26/2022  EUR    72.150
Societe Generale Eff  12.250   8/26/2022  EUR    71.160
Societe Generale Eff   8.500   9/23/2022  EUR    75.530
Societe Generale Eff   9.500   9/23/2022  EUR    74.200
Societe Generale Eff  10.500   9/23/2022  EUR    73.000
Societe Generale Eff  15.000   5/27/2022  EUR    68.100
Societe Generale Eff  12.000   6/24/2022  EUR    71.100
Societe Generale Eff  12.000  10/28/2022  EUR    71.670
Bank Vontobel AG      14.505  11/14/2022  EUR    80.100
Bank Vontobel AG      14.505  11/14/2022  EUR    80.100
Societe Generale Eff  11.250   5/27/2022  EUR    33.570
Societe Generale Eff  13.250   5/27/2022  EUR    31.480
DZ Bank AG Deutsche    7.500   6/22/2022  EUR    69.340
DZ Bank AG Deutsche    6.250   9/21/2022  EUR    70.760
DZ Bank AG Deutsche    5.000   9/21/2022  EUR    73.630
DZ Bank AG Deutsche    7.000   9/21/2022  EUR    72.370
DZ Bank AG Deutsche   11.750   6/22/2022  EUR    60.260
DZ Bank AG Deutsche    8.500   6/22/2022  EUR    73.550
Societe Generale Eff  15.250   5/27/2022  EUR    29.750
DekaBank Deutsche Gi   5.100   6/15/2022  EUR    74.720
Leonteq Securities A  20.940   5/19/2022  CHF    65.950
Corner Banca SA        6.500  11/21/2022  CHF    41.200
Zurcher Kantonalbank  13.250   5/31/2022  CHF    60.840
Zurcher Kantonalbank   5.000   5/31/2022  CHF    70.870
UBS AG/London          7.250  11/21/2022  CHF    66.900
UBS AG/London         10.250  11/21/2022  CHF    38.400
UBS AG/London          5.250   5/19/2023  CHF    73.150
Vontobel Financial P  14.000   6/24/2022  EUR    74.210
Vontobel Financial P   9.500   6/24/2022  EUR    74.180
Vontobel Financial P   4.000   6/24/2022  EUR    58.520
Vontobel Financial P  16.500   6/24/2022  EUR    49.960
Basler Kantonalbank    8.000   4/28/2022  CHF    74.790
Bank Vontobel AG       8.502  10/17/2022  EUR    74.900
Bank Vontobel AG       9.001  10/17/2022  CHF    75.000
Raiffeisen Switzerla  12.500   05/10/2022 EUR    27.640
DZ Bank AG Deutsche    5.800   6/20/2022  EUR    75.850
DZ Bank AG Deutsche    5.400   6/20/2022  EUR    74.370
Corner Banca SA       16.000   08/10/2022 EUR    67.280
Zurcher Kantonalbank   8.500   5/19/2022  CHF    74.030
Vontobel Financial P   3.500   6/24/2022  EUR    60.030
Bank Julius Baer & C  16.000   05/11/2022 EUR    22.550
Vontobel Financial P  14.000   6/24/2022  EUR    71.820
Vontobel Financial P   8.000   6/24/2022  EUR    51.280
Vontobel Financial P  20.000   6/24/2022  EUR    75.670
EFG International Fi   5.800   4/26/2023  EUR    40.020
Litana-Kaliningrad O  13.000   05/01/2024 RUB    58.640
Leonteq Securities A  12.000   7/22/2022  CHF    65.140
Vontobel Financial P  15.500   6/24/2022  EUR    27.050
Credit Suisse AG/Lon  12.500   8/22/2022  CHF    69.990
Leonteq Securities A  30.000  10/18/2022  CHF    62.530
Sberbank of Russia P   0.010   5/25/2026  RUB    69.700
Societe Generale Eff  15.000   5/27/2022  EUR    73.210
Societe Generale Eff  11.750   5/27/2022  EUR    37.110
Vontobel Financial P   5.750   6/24/2022  EUR    75.600
DZ Bank AG Deutsche    5.700   9/19/2022  EUR    73.940
Raiffeisen Schweiz G  18.000  10/19/2022  CHF    54.750
Raiffeisen Schweiz G  20.000  10/19/2022  CHF    35.890
Erste Group Bank AG    8.700   11/12/2026 EUR
UniCredit Bank AG      9.250  11/16/2022  EUR    39.590
UniCredit Bank AG      6.550  11/16/2022  EUR    60.220
Epito-Es Epuletkarba   3.000   11/11/2030 HUF    73.600
Raiffeisen Schweiz G  10.250   02/06/2023 CHF    62.430
Sberbank of Russia P   0.010   11/05/2025 RUB    69.400
Leonteq Securities A  20.000   08/10/2022 CHF    37.690
Leonteq Securities A  22.310   08/10/2022 USD    22.480
Zurcher Kantonalbank  10.000   8/18/2022  CHF    57.130
Zurcher Kantonalbank  10.000   8/18/2022  CHF    73.580
Zurcher Kantonalbank   8.000   8/18/2022  CHF    76.440
DZ Bank AG Deutsche   12.700   9/23/2022  EUR    72.780
DZ Bank AG Deutsche   14.500   6/24/2022  EUR    66.040
DZ Bank AG Deutsche   14.400   6/24/2022  EUR    77.670
DZ Bank AG Deutsche    7.100   9/23/2022  EUR    69.270
DZ Bank AG Deutsche    9.500   9/23/2022  EUR    64.710
DZ Bank AG Deutsche   11.300   9/23/2022  EUR    71.610
DZ Bank AG Deutsche   11.100   9/23/2022  EUR    48.650
DZ Bank AG Deutsche   14.900   9/23/2022  EUR    74.700
Vontobel Financial P   9.000   9/23/2022  EUR    70.250
Vontobel Financial P  10.500   9/23/2022  EUR    68.730
Vontobel Financial P  13.000   6/24/2022  EUR    66.580
Vontobel Financial P   9.000   6/24/2022  EUR    70.380
Vontobel Financial P  11.000   6/24/2022  EUR    68.400
Vontobel Financial P  15.000   6/24/2022  EUR    64.870
Vontobel Financial P  11.000   6/24/2022  EUR    68.890
Vontobel Financial P  16.000   9/23/2022  EUR    73.100
Vontobel Financial P  12.250   6/24/2022  EUR    51.300
Raiffeisen Schweiz G  12.000   07/12/2022 CHF    71.960
Raiffeisen Schweiz G  14.000   07/12/2022 CHF    32.140
Bank Julius Baer & C   6.700  10/13/2022  CHF    69.200
DZ Bank AG Deutsche    5.200  12/19/2022  EUR    73.110
DZ Bank AG Deutsche    7.250  12/19/2022  EUR    75.060
Vontobel Financial P  12.000   08/09/2022 EUR    63.640
Leonteq Securities A  14.880   08/09/2022 CHF    62.000
DZ Bank AG Deutsche    5.500   6/22/2022  EUR    67.120
DZ Bank AG Deutsche    7.250   6/22/2022  EUR    75.260
DZ Bank AG Deutsche    8.250   8/24/2022  EUR    68.520
Vontobel Financial P  11.000   6/24/2022  EUR    72.230
Vontobel Financial P  16.500   6/24/2022  EUR    65.000
Vontobel Financial P  20.000   6/24/2022  EUR    62.140
Vontobel Financial P  14.000   6/24/2022  EUR    68.430
Vontobel Financial P  18.500   9/23/2022  EUR    53.840
Vontobel Financial P  24.000   6/24/2022  EUR    52.020
Vontobel Financial P   8.000   9/23/2022  EUR    75.440
Vontobel Financial P   8.000   6/24/2022  EUR    73.690
Vontobel Financial P  10.000   9/23/2022  EUR    73.680
Vontobel Financial P  12.000   9/23/2022  EUR    70.490
Vontobel Financial P  14.000   9/23/2022  EUR    67.650
Vontobel Financial P  16.500   9/23/2022  EUR    65.360
Vontobel Financial P  19.000   9/23/2022  EUR    63.380
Vontobel Financial P  13.500   6/24/2022  EUR    70.440
Vontobel Financial P  15.500   9/23/2022  EUR    68.350
Raiffeisen Schweiz G   9.500   02/06/2023 USD    50.360
Raiffeisen Schweiz G  12.000   11/09/2022 CHF    39.830
Sberbank of Russia P   0.010  10/28/2024  RUB    73.200
DZ Bank AG Deutsche   17.400   6/24/2022  EUR    65.930
DZ Bank AG Deutsche   18.500   9/23/2022  EUR    64.570
DZ Bank AG Deutsche   12.600   9/23/2022  EUR    68.790
DZ Bank AG Deutsche   12.800   9/23/2022  EUR    58.950
DZ Bank AG Deutsche   16.400   9/23/2022  EUR    62.500
DZ Bank AG Deutsche   18.000   9/23/2022  EUR    60.080
DZ Bank AG Deutsche   23.000   9/23/2022  EUR    54.470
DZ Bank AG Deutsche   12.700   9/23/2022  EUR    46.880
DZ Bank AG Deutsche   14.500   9/23/2022  EUR    45.610
Vontobel Financial P  12.000   9/23/2022  EUR    67.320
Vontobel Financial P  14.000   9/23/2022  EUR    66.690
Vontobel Financial P  12.000   9/23/2022  EUR    67.770
Vontobel Financial P  15.000   6/24/2022  EUR    65.330
Vontobel Financial P   6.000   6/24/2022  EUR    75.530
Vontobel Financial P  21.500   6/24/2022  EUR    72.650
Vontobel Financial P  18.000   6/24/2022  EUR    75.690
Vontobel Financial P  18.500   6/24/2022  EUR    70.990
Vontobel Financial P  10.000   6/24/2022  EUR    68.210
Vontobel Financial P   6.250   6/24/2022  EUR    67.940
Vontobel Financial P  12.500   6/24/2022  EUR    41.990
UniCredit Bank AG     10.150   09/07/2022 EUR    72.910
UniCredit Bank AG      7.450   09/07/2022 EUR    50.980
UniCredit Bank AG      9.650   09/07/2022 EUR    35.000
DZ Bank AG Deutsche   14.100   6/24/2022  EUR    61.160
DZ Bank AG Deutsche   10.500   9/23/2022  EUR    66.850
DZ Bank AG Deutsche   12.300   9/23/2022  EUR    67.090
DZ Bank AG Deutsche   14.300   9/23/2022  EUR    61.260
DZ Bank AG Deutsche   16.500   9/23/2022  EUR    61.880
DZ Bank AG Deutsche   17.100   9/23/2022  EUR    68.900
DZ Bank AG Deutsche   15.100   6/24/2022  EUR    75.980
DZ Bank AG Deutsche   20.100   9/23/2022  EUR    21.290
DZ Bank AG Deutsche   16.300   9/23/2022  EUR    55.120
DZ Bank AG Deutsche   18.300   9/23/2022  EUR    52.940
DZ Bank AG Deutsche   20.400   9/23/2022  EUR    51.130
DZ Bank AG Deutsche    6.500   9/23/2022  EUR    73.440
DZ Bank AG Deutsche    8.600   9/23/2022  EUR    70.520
DZ Bank AG Deutsche   11.100   9/23/2022  EUR    67.980
DZ Bank AG Deutsche   20.800   9/23/2022  EUR    46.720
DZ Bank AG Deutsche   15.400   9/23/2022  EUR    30.890
DZ Bank AG Deutsche   18.000   9/23/2022  EUR    30.180
DZ Bank AG Deutsche    8.400   9/23/2022  EUR    70.810
Goldman Sachs & Co W   5.000   9/21/2022  EUR    74.370
Goldman Sachs & Co W   5.000   5/25/2022  EUR    72.920
Goldman Sachs & Co W   5.000   6/22/2022  EUR    73.300
Goldman Sachs & Co W   5.000   7/20/2022  EUR    73.670
Goldman Sachs & Co W   5.000   8/24/2022  EUR    74.070
DZ Bank AG Deutsche   20.200   6/24/2022  EUR    26.030
DZ Bank AG Deutsche   12.900   9/23/2022  EUR    31.930
Societe Generale Eff   6.750   5/27/2022  EUR    36.850
Societe Generale Eff   5.250   5/27/2022  EUR    77.120
Societe Generale Eff   9.250   5/27/2022  EUR    65.430
Societe Generale Eff  14.750   5/27/2022  EUR    26.470
Societe Generale Eff  10.250   5/27/2022  EUR    63.330
Erste Group Bank AG    9.500   3/29/2024  EUR    65.100
Zurcher Kantonalbank  11.000   7/15/2022  CHF    42.830
Bank Vontobel AG       6.000   01/04/2023 CHF    65.300
Bank Vontobel AG       8.500   01/03/2023 EUR    70.500
Bank Vontobel AG      11.250   01/03/2023 EUR    73.500
Bank Vontobel AG      11.250   01/03/2023 EUR    73.500
Bank Vontobel AG      17.500   07/04/2022 CHF    27.400
Sberbank of Russia P   0.010   4/22/2026  RUB    64.520
Leonteq Securities A  18.000   7/26/2022  CHF    63.900
Leonteq Securities A  12.000   7/26/2022  EUR    60.250
Corner Banca SA       17.200   4/26/2022  CHF    53.460
Leonteq Securities A   9.000  10/26/2022  EUR    64.610
Vontobel Financial P   7.000   6/24/2022  EUR    42.430
Vontobel Financial P  12.500   6/24/2022  EUR    57.910
Vontobel Financial P  10.000   6/24/2022  EUR    41.610
Vontobel Financial P  13.500   6/24/2022  EUR    38.170
Vontobel Financial P  12.500   6/24/2022  EUR    39.250
Vontobel Financial P  16.500   6/24/2022  EUR    36.400
Vontobel Financial P   9.500   6/24/2022  EUR    39.240
Vontobel Financial P  11.000   6/24/2022  EUR    40.340
Vontobel Financial P   6.500   6/24/2022  EUR    46.060
DZ Bank AG Deutsche    7.000   6/20/2022  EUR    71.320
DZ Bank AG Deutsche    8.000   6/20/2022  EUR    71.470
DZ Bank AG Deutsche    7.000   6/20/2022  EUR    64.790
DZ Bank AG Deutsche    5.300   6/20/2022  EUR    69.790
Corner Banca SA       14.000   4/26/2022  USD    57.350
Zurcher Kantonalbank   5.000   4/27/2022  EUR    64.900
DZ Bank AG Deutsche    5.000   6/22/2022  EUR    58.760
DZ Bank AG Deutsche    6.750   6/22/2022  EUR    59.030
DZ Bank AG Deutsche   10.500   6/22/2022  EUR    71.910
DZ Bank AG Deutsche   12.000   6/22/2022  EUR    80.660
DZ Bank AG Deutsche    9.000   6/22/2022  EUR    75.820
DZ Bank AG Deutsche    8.000   6/22/2022  EUR    60.480
Leonteq Securities A   8.000   7/26/2022  CHF    62.310
Zurcher Kantonalbank  16.250   05/04/2022 EUR    65.120
Zurcher Kantonalbank   8.000   05/04/2022 CHF    72.880
EFG International Fi   5.000   4/26/2023  USD    63.610
Raiffeisen Switzerla   6.750  10/26/2022  CHF    63.230
Raiffeisen Switzerla  12.000  10/26/2022  CHF    40.660
Raiffeisen Switzerla  10.500  10/26/2022  CHF    65.230
Raiffeisen Switzerla   8.000  10/26/2022  EUR    63.830
Leonteq Securities A  11.500  10/27/2022  CHF    62.180
Landesbank Baden-Wue   7.000   4/28/2023  EUR    74.960
Landesbank Baden-Wue   5.200   4/28/2023  EUR    59.070
Landesbank Baden-Wue   3.350   4/28/2023  EUR    63.880
Landesbank Baden-Wue   5.650   4/28/2023  EUR    71.860
Landesbank Baden-Wue   4.200   4/28/2023  EUR    75.820
Landesbank Baden-Wue   7.000   4/28/2023  EUR    40.100
Landesbank Baden-Wue   3.800   4/28/2023  EUR    46.610
Landesbank Baden-Wue   3.200   4/28/2023  EUR    69.280
Landesbank Baden-Wue   2.000   4/28/2023  EUR    73.190
Landesbank Baden-Wue   4.650   4/28/2023  EUR    68.210
Landesbank Baden-Wue   3.300   4/28/2023  EUR    72.230
Landesbank Baden-Wue   5.250   4/28/2023  EUR    41.280
Landesbank Baden-Wue   3.150   4/28/2023  EUR    45.350
Landesbank Baden-Wue   2.300   4/28/2023  EUR    66.870
Landesbank Baden-Wue   6.000   4/28/2023  EUR    73.930
Landesbank Baden-Wue   5.700   4/28/2023  EUR    41.130
Landesbank Baden-Wue   4.350   4/28/2023  EUR    43.040
Landesbank Baden-Wue   3.000   4/28/2023  EUR    45.700
Vontobel Financial P  13.500   6/24/2022  EUR    62.570
Vontobel Financial P  15.000   6/24/2022  EUR    60.920
Vontobel Financial P  11.000   6/24/2022  EUR    66.330
Vontobel Financial P   9.500   6/24/2022  EUR    68.380
Vontobel Financial P  12.500   6/24/2022  EUR    64.420
Vontobel Financial P  16.500   6/24/2022  EUR    59.390
Vontobel Financial P  16.000   6/24/2022  EUR    75.370



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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 2022.  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.


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