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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, March 20, 2023, Vol. 24, No. 57

                           Headlines



F R A N C E

PAPREC HOLDING: S&P Affirms 'BB-' ICR, Alters Outlook to Pos.


G R E E C E

NAVIOS MARITIME: S&P Upgrades ICR to 'BB' on Enhanced Profitability


I R E L A N D

HARVEST CLO XX: Moody's Affirms B2 Rating on EUR12MM Class F Notes
TRINITAS EURO IV: Fitch Assigns 'B-(EXP)sf' Rating on Class F Notes


L U X E M B O U R G

ADVANZIA BANK: Moody's Assigns First Time 'Ba1' Deposit Rating
AI CONVOY: Moody's Lowers CFR to B3, Outlook Remains Stable


N E T H E R L A N D S

ARUBA: Fitch Hikes Foreign Currency IDR to 'BB+', Outlook Stable


R O M A N I A

EUROINS ROMANIA: Financial Regulator Withdraws Operating License


S P A I N

BBVA CONSUMO 12: Moody's Rates EUR150MM Series B Notes 'B1'


S W I T Z E R L A N D

CREDIT SUISSE: UBS in Advanced Talks to Acquire Swiss Bank


U N I T E D   K I N G D O M

BRITISHVOLT: New Owners Get More Time to Build Batter Factory
CAMELOT UK: S&P Upgrades ICR to 'B+', Outlook Positive
CINEWORLD GROUP: Vue International Acquisition Bid Faces Hurdle
HALLMARK SHEET: Enters Administration, 24 Jobs Affected
MAGENTA 2020: S&P Affirms 'BB- (sf)' Rating on Class E Notes

MALLINCKRODT: S&P Cuts ICR to 'SD' on Below-Par Debt Repurchases
SGS FINANCE: S&P Affirms 'CCCp (sf)' Rating on 1, 2 and 3 Notes
SHEFFIELD UNITED: Introduces Extraordinary Costs-Cutting Measures
SNOWS BUSINESS: Goes Into Administration, Halts Operations
TAURUS 2019-2: Fitch Affirms BBsf Rating on Class E Notes



X X X X X X X X

[*] BOND PRICING: For the Week March 13 to March 17, 2023

                           - - - - -


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F R A N C E
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PAPREC HOLDING: S&P Affirms 'BB-' ICR, Alters Outlook to Pos.
-------------------------------------------------------------
S&P Global Ratings revised its outlook on Paprec Holding (Paprec)
to positive from stable, and affirmed its 'BB-' long-term issuer
credit rating.

S&P also affirmed its 'BB-' issue rating on Paprec's EUR575 million
senior secured notes due 2025 and EUR450 million floating-rate
notes due 2028. The '3' recovery rating is unchanged, reflecting
its expectation of meaningful recovery prospects (rounded estimate:
55%) in the case of a payment default.

S&P Global Ratings expects French waste recycler Paprec to achieve
strong sales growth in 2023, but that margins will decline further,
as electricity prices are forecast to remain exceptionally high. In
S&P's base case, it assumes strong sales growth of 14%-16%. Revenue
is being boosted by the roll out of numerous previously won tenders
and by price hikes implemented to compensate for general inflation.
However, flat economic growth in Europe is depressing demand for
the recycled raw materials Paprec produces, especially in the
packaging industry.

Paprec traditionally hedges its electricity prices one year in
advance, and now faces a sixfold increase in these costs in 2023.
S&P said, "This is key to our forecast that the adjusted EBITDA
margin will decline to 14.0%-14.5% (from about 16% in 2022). We
consider it prudent to assume that the company will be unable to
pass on these higher costs to clients in full." It has also made
some recent acquisitions that we understand were margin dilutive.
In addition, Paprec is developing new activities, such as the
design and construction of waste-to-energy plants. These will yield
negative EBITDA until the first contracts are won.

Paprec's publicly stated financial policy indicates that it intends
to keep debt leverage below 4x. S&P said, "We understand that
Paprec aims to maintain reported leverage of 2.5x-3.5x--this
corresponds to about 3.0x-4.0x, following our adjustments (in line
with a significant financial risk profile). In 2023, we forecast
that adjusted leverage will remain stable at about 3.5x, despite
the payment of a EUR20 million dividend and about EUR90 million of
spending on small and midsize acquisitions."

The company continues to use acquisitions to acquire expertise,
notably in hazardous waste treatment, and to expand
internationally. It has shown particular interest in expanding in
Spain, where the market is transitioning away from landfill toward
waste-to-energy and recycling. Paprec has strong knowledge and
experience in these areas. Engineering firm CNIM, which Paprec
acquired in 2021, is also ramping up construction projects--it is
designing and building incinerators.

The positive outlook reflects the potential for an upgrade, given
Paprec's extended track record of maintaining debt leverage below
4.0x and FFO to debt above 20%.

S&P could raise the ratings if Paprec maintains adjusted leverage
comfortably below 4.0x and FFO to debt above 20% through
acquisition and investment cycles. This would likely follow good
execution and ramp-up of new contracts, continued renewals of
existing contracts, and raw material prices stabilizing at high
levels.

S&P could revise the outlook to stable if Paprec's operating
performance were weaker than expected, resulting in leverage rising
above 4.0x and FFO to debt falling below 20%. This could happen if
Paprec's international expansion and business strategy encounter
problems, or if it makes operational missteps in France. It could
also follow a severe economic contraction in Europe that lowered
volumes and depressed prices, especially those for industrial
clients.

The outlook might also be revised to stable if Paprec:

-- Amended its financial policy and attempted significant
debt-funded acquisitions;

-- Undertook material shareholder distributions that significantly
increased its leverage; or

-- Allowed its liquidity to weaken substantially.

S&P could lower the rating if governance deficiencies were
identified as a result of the legal proceedings against Paprec's
former CEO and founder, or if the trial materially affected
Paprec's ability to do business by making it harder to access
capital or exposing other issues linked to potential reputational
damage.

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

S&P said, "The company is majority-owned by its founder, but we
understand that minority investors BPI France, Vauban
Infrastructure Partners, and BNP Paribas Development have veto
rights for certain key decisions. These three shareholders have
indicated that their risk appetite is lower than in previous years.
We expect this to lead to lower leverage than in the past. To date,
we have not observed a negative effect on the operational
performance of the company, its financials, credibility, or
reputation, from the investigation into the former CEO and founder.
Sebastien Petithuguenin, who took over from his father as CEO in
June 2022, has so far proved to be a competent manager."




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G R E E C E
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NAVIOS MARITIME: S&P Upgrades ICR to 'BB' on Enhanced Profitability
-------------------------------------------------------------------
S&P Global Ratings raised its long-term issuer credit rating on
Marshall Islands-registered Navios Maritime Partners L.P. (Navios
Partners) to 'BB' from 'BB-'.

The stable outlook reflects S&P's forecast of sustained positive
discretionary cash flow in the next 12 months, enhancing Navios
Partners' financial flexibility for potential fluctuations in
EBITDA, further opportunistic ship acquisitions, or unforeseen
operational setbacks.

Navios Partners will continue benefiting from a large and
diversified fleet. Navios Partners now owns and operates a fleet of
176 ships--after the most recent fleet-enhancement transactions,
including the merger with Navios Maritime Acquisition Corp., owner
and operator of 45 crude-oil and oil-product tankers (completed in
August 2021), and acquisition of Navios Maritime Holdings Inc.'s 36
dry-bulk ships (completed in September 2022). It is one of the
largest fleets among New York stock exchange-listed shipping
companies. The company has gained exposure to three distinct
shipping segments (drybulk, container, and oil/oil products), which
should help to mitigate the individual segments' volatility and add
stability to earnings through the typically different-stage
cyclicality of these segments. For example, S&P believes that oil
shipping has entered a bullish cycle due to a surge in ton mile
demand and the lowest new tanker orderbook in more than 20 years;
at the same time, dry-bulk shipping's charter rates are unlikely to
improve before late 2023, but should rebound in 2024 thanks to
significantly slowing fleet growth; containership rates will likely
continue normalizing (after a severe plunge from all-time highs in
late 2022) as supply growth will likely outstrip demand in 2023 and
2024.

Navios Partners' conservative chartering policy and predictable
running costs partly insulate the company from the industry's
higher-than-average underlying volatility and underpin strong
earnings in 2023-2024. Navios Partners' charter profile has a
remaining average term of about two years. S&P said, "Multiyear
time-charter agreements largely insulate Navios Partners from the
severe plunge in containership charter rates that happened in late
2022, provided charters deliver on their commitments, which we
build into our base case. Close to 90% of containership operating
days are contracted at fixed/non-cancellable rates in 2023 and
about 70% in 2024. Credit quality of counterparties (predominantly
container liners) is currently robust, in our view, driven by the
unprecedent freight rate conditions and the resulting windfall
profits the liners generated over the past 2.5 years. Therefore, we
believe that the probability of charter defaults is remote and risk
of contract/charter rate amendments by liners is low in 2023.
Meanwhile, a surge in charter rates in the oil shipping segments
since mid-2022 allowed Navios Partners to re-charter tankers coming
due to renewal at higher rates and longer durations than
previously. Accordingly, about 65% of tanker operating days are
contracted at fixed/non-cancellable rates in 2023 and about 40% in
2024. Only about 30% of dry-bulk ship operating days are currently
fixed in 2023, but we expect this coverage to rise (in line with
Navios Partners' chartering strategy) once trading conditions start
recovering and charters with longer duration become available."

Solid EBITDA-to-operating cash flow conversion will help Navios
Partners achieve rating-commensurate credit measures, despite a
large step up in capital expenditure (capex). Navios Partners'
EBITDA is set to surge to about $800 million-$850 million in 2023,
underpinned by the existing charter agreements, expected tanker
rate momentum, and full-year earnings contribution from 36 dry-bulk
ships acquired in September 2022. In our base case, it will remain
at least at this solid level in 2024. This compares with about $680
million in 2022 and about $428 million in 2021. S&P said, "Given
the sustained and robust EBITDA-to-cash flow conversion, in our
base case operating cash flow will largely counterbalance the ramp
up in capex for new ships, which we forecast at $400 million in
2023 and $600 million in 2024 when 19 ships (out of 23) are
scheduled to be delivered; this compares with $240 million in 2022.
That means that adjusted debt, which amounted to $2.08 billion as
of Dec. 31, 2022, might stay largely flat over the 2023-2024
investment period. Boosted by increasing EBITDA, we forecast Navios
Partners' adjusted FFO to debt will improve and remain at 30%-40%
in 2023-2024, while adjusted debt to EBITDA will sustainably shrink
to 2.0x-2.5x. This is significantly below Navios Partners'
historical adjusted leverage levels of 3.8x-5.5x during 2019-2021.
We expect the company to carefully weigh the operating environment,
rechartering prospects, and available liquidity before it commits
to any sizable fleet expansion beyond the ships currently on order.
We also expect Navios Partners will preserve its balanced approach
to debt leverage to finance growth.”

Deliveries of new ships will hinder balance-sheet deleveraging in
2023 and 2024, so the protection of rating-commensurate credit
metrics hinges predominantly on Navios Partners' earnings'
strength. Navios Partners currently has 23 ships on order (12
containerships, eight tankers, and three dry-bulk vessels), with a
total investment of $1.5 billion. All new builds (barring two
product tankers) are contracted at fixed/attractive charter rates
and long-term durations (five years for tankers, five to 12 years
for containerships, and four to five years for dry bulkers), which
provides cash-flow visibility and protects the investment, assuming
that counterparties honor their commitments. That said, capex will
step up this year to $400 million-$450 million and $600 million in
2024 and absorb operating cash flows. This will hinder debt
reduction while expanding Navios Partners' earnings base and
reducing environmental impact over time (since new ships are more
efficient and less polluting). Consequently, the preservation of
rating-commensurate credit metrics this year and next hinges
predominantly on sustained EBITDA strength.

The most recent fleet-rationalization increased Navios Partners'
scale, expanded its customer base, and enlarged/diversified its
earnings streams. Navios Partners' fleet of 176 vessels is
2.5x-2.6x larger than its closest competitors' Danaos Corp. and
Global Ship Lease Inc., as measured by number of ships. S&P said,
"The larger fleet underpins absolute EBITDA likely doubling to
about $800 million-$850 million in 2023-2024, compared with 2021,
and exceeding our EBITDA forecasts for Danaos and Global Ship
Lease. We believe that contribution from tankers, with 65% of their
operating days contracted in 2023 and 40% in 2024, is an
enhancement to Navios Partners' charter profile. This is because
time charters in oil shipping--typically involving reputable
counterparties--tend to be more predictable and less risky than
those in other shipping segments (such as dry-bulk or containers).
We also acknowledge Navios Partners' enhanced scope and diversity,
with a better balance between shipping segments with distinct
demand and supply prospects, and a widened geographic coverage of
the route network because tankers sail/trade on different global
routes to containerships and dry bulkers. Although scale provides
some competitive advantage, Navios Partners remains exposed to
volatile shipping charter rates (and vessel values), in particular
in the event of the counterparty's nonperformance on charter
agreements or default. We view the shipping sector as having
higher-than-average industry risk, constraining our overall
assessment of Navios Partners' business risk profile. In our view,
this stems from the industry's capital intensity, high
fragmentation, frequent supply-demand imbalances, history of
meaningful oversupply, and limited ability to differentiate
services, leaving industry players to compete mainly on price.
Although Navios Partners doubled its fleet size thanks to the most
recent transactions, the company's market shares account for a
fraction of aggregate industry capacity."

S&P said, "The stable outlook reflects our forecast of sustained
positive discretionary cash flow in the next 12 months, enhancing
Navios Partners' financial flexibility for potential fluctuations
in EBITDA, further opportunistic ship acquisitions, or unforeseen
operational setbacks.

"We could lower the rating if Navios Partners' EBITDA appeared to
trend significantly below our base case due to an unexpected
significant deterioration in charter rate conditions, resulting in
adjusted FFO to debt sustainably below 25%."

Rating pressure would also arise if container liners' credit
quality seemed to weaken rapidly, increasing the risk of amendments
to existing contracts, delayed payments, or nonpayment under the
charter agreements.

S&P said, "A negative rating action could also follow any
unexpected deviations in terms of financial policy, for example, if
we believe that the company was pursuing significant and largely
debt-funded investments in additional tonnage or aggressive
shareholder distributions, which would depress credit metrics.

"We could raise the rating if we believed that Navios Partners
would be able and willing to maintain adjusted FFO to debt of more
than 40%, which is our threshold for a 'BB+' rating.

"This would be contingent on industry conditions allowing the
company to re-charter its ships at rates higher than our base case,
extend its charter profile duration, and enhance earnings
predictability, while continuing to repay debt according to the
mandatory amortization schedule. Given the industry's inherent
volatility, an upgrade would also depend on the company's ability
to achieve an ample cushion under the credit measures for potential
EBITDA fluctuations.

"Furthermore, we would need to be convinced that management's
financial policy does not allow for significant increases in
leverage. This means, for example, that the company applies excess
cash for fleet expansion or rejuvenation and that dividend
distributions remain prudent."

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




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I R E L A N D
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HARVEST CLO XX: Moody's Affirms B2 Rating on EUR12MM Class F Notes
------------------------------------------------------------------
Moody's Investors Service has upgraded the ratings on the following
notes issued by Harvest CLO XX DAC:

EUR12,000,000 Class B-1-R Senior Secured Floating Rate Notes due
2031, Upgraded to Aa1 (sf); previously on Apr 1, 2021 Definitive
Rating Assigned Aa2 (sf)

EUR30,000,000 Class B-2-R Senior Secured Fixed Rate Notes due
2031, Upgraded to Aa1 (sf); previously on Apr 1, 2021 Definitive
Rating Assigned Aa2 (sf)

EUR27,500,000 Class C-R Senior Secured Deferrable Floating Rate
Notes due 2031, Upgraded to A1 (sf); previously on Apr 1, 2021
Definitive Rating Assigned A2 (sf)

EUR20,900,000 Class D-R Senior Secured Deferrable Floating Rate
Notes due 2031, Upgraded to Baa2 (sf); previously on Apr 1, 2021
Definitive Rating Assigned Baa3 (sf)

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

EUR246,000,000 Class A-R Senior Secured Floating Rate Notes due
2031, Affirmed Aaa (sf); previously on Apr 1, 2021 Definitive
Rating Assigned Aaa (sf)

EUR24,000,000 Class E Senior Secured Deferrable Floating Rate
Notes due 2031, Affirmed Ba2 (sf); previously on Apr 1, 2021
Affirmed Ba2 (sf)

EUR12,000,000 Class F Senior Secured Deferrable Floating Rate
Notes due 2031, Affirmed B2 (sf); previously on Apr 1, 2021
Affirmed B2 (sf)

Harvest CLO XX DAC, issued in November 2018 and refinanced in April
2021, is a collateralised loan obligation (CLO) backed by a
portfolio of mostly high-yield senior secured European loans. The
portfolio is managed by Investcorp Credit Management EU Limited.
The transaction's reinvestment period will end in April 2023.

RATINGS RATIONALE

The rating upgrades on Class B-1R, Class B-2R, Class C-R and Class
D-R notes are primarily a result of the benefit of the shorter
period of time remaining before the end of the reinvestment period
in April 2023.

In light of reinvestment restrictions during the amortisation
period, and therefore the limited ability to effect significant
changes to the current collateral pool, Moody's analysed the deal
assuming a higher likelihood that the collateral pool
characteristics would maintain an adequate buffer relative to
certain covenant requirements. In particular, Moody's assumed that
the deal will benefit from a shorter amortisation profile, higher
weighted average recovery rate and higher spread levels than it had
assumed at closing.

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: EUR398.5M

Defaulted Securities: EUR0

Diversity Score: 62

Weighted Average Rating Factor (WARF): 2966

Weighted Average Life (WAL): 4.28 years

Weighted Average Spread (WAS) (before accounting for Euribor
floors): 3.80%

Weighted Average Coupon (WAC): 4.45%

Weighted Average Recovery Rate (WARR): 44.50%

Par haircut in OC tests and interest diversion test: 0%

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 the account bank and swap
providers, using the methodology "Moody's Approach to Assessing
Counterparty Risks in Structured Finance" published in June 2022.
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: Once reaching the end of the reinvestment
period in April 2023, 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.

Weighted average life: The notes' ratings are sensitive to the
weighted average life assumption of the portfolio, which could
lengthen as a result of the manager's decision to reinvest in new
issue loans or other loans with longer maturities, or participate
in amend-to-extend offerings.  The effect on the ratings of
extending the portfolio's weighted average life can be positive or
negative depending on the notes' seniority.

In addition to the quantitative factors that Moody's explicitly
modelled, qualitative factors are part of the rating committee's
considerations. These qualitative factors include the structural
protections in the transaction, its recent performance given the
market environment, the legal environment, specific documentation
features, the collateral manager's track record and the potential
for selection bias in the portfolio. All information available to
rating committees, including macroeconomic forecasts, input from
other Moody's analytical groups, market factors, and judgments
regarding the nature and severity of credit stress on the
transactions, can influence the final rating decision.

TRINITAS EURO IV: Fitch Assigns 'B-(EXP)sf' Rating on Class F Notes
-------------------------------------------------------------------
Fitch Ratings has assigned Trinitas Euro CLO IV DAC's notes
expected ratings.

The assignment of final ratings is contingent on the receipt of
final documentation confirming information already reviewed.

   Entity/Debt           Rating        
   -----------           ------        
Trinitas Euro
CLO IV DAC

   A XS2585854297    LT AAA(EXP)sf  Expected Rating

   B1 XS2585854453   LT AA(EXP)sf   Expected Rating

   B2 XS2585854610   LT AA(EXP)sf   Expected Rating

   C XS2585855005    LT A(EXP)sf    Expected Rating

   D XS2585855187    LT BBB-(EXP)sf Expected Rating

   E XS2585855427    LT BB-(EXP)sf  Expected Rating

   F XS2585855690    LT B-(EXP)sf   Expected Rating

   Sub-ordinated
   XS2585855773      LT NR(EXP)sf   Expected Rating

TRANSACTION SUMMARY

Trinitas Euro CLO IV DAC is a securitisation of mainly senior
secured loans and secured senior bonds (at least 90%) with a
component of senior unsecured, mezzanine and second-lien loans.
Note proceeds have been used to fund a portfolio with a target par
of EUR350 million. The portfolio is actively managed by Trinitas
Capital Management, LLC. The CLO has an approximately 4.6-year
reinvestment period and an 8.5-year weighted average life (WAL).

KEY RATING DRIVERS

Average Portfolio Credit Quality (Neutral): Fitch assesses the
average credit quality of obligors in the 'B' category. The Fitch
weighted average rating factor (WARF) of the identified portfolio
is 23.6.

High Recovery Expectations (Positive): At least 90% of the
portfolio will comprise senior secured obligations. Fitch views the
recovery prospects for these assets as more favourable than for
second-lien, unsecured and mezzanine assets. The Fitch weighted
average recovery rate (WARR) of the identified portfolio is 64.73.

Diversified Portfolio (Positive): The transaction includes various
concentration limits in the portfolio, including the top 10 obligor
concentration limit at 20% and the maximum exposure to the
three-largest Fitch-defined industries at 43%. These covenants
ensure the asset portfolio will not be exposed to excessive
concentration.

Portfolio Management (Neutral): Exposure to fixed-rate assets for
assigning the expected ratings is limited to 12.5%, and the
transaction has a maximum 8.5-year WAL test. The transaction has
also a 4.6-year reinvestment period and includes reinvestment
criteria similar to those of other European transactions. Fitch's
analysis is based on a stressed-case portfolio with the aim of
testing the robustness of the transaction structure against its
covenants and portfolio guidelines.

Cash Flow Modelling (Positive): The WAL modelled is 12 months less
than the WAL covenant. This is to account for the strict
reinvestment conditions envisaged by the transaction after its
reinvestment period. These include, among others, passing both the
coverage tests and the Fitch 'CCC' maximum limit, as well as a WAL
covenant that progressively steps down over time, both before and
after the end of the reinvestment period. Fitch believes these
conditions would reduce the effective risk horizon of the portfolio
during the stress period.

RATING SENSITIVITIES

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

A 25% increase of the mean default rate (RDR) across all ratings
and a 25% decrease of the recovery rate (RRR) across all ratings of
the current portfolio would have no impact on the class A, B, C and
D notes and would lead to a downgrade of one notch for the class E
and F notes.

Based on the current portfolio, downgrades may occur if the loss
expectation is larger than initially assumed, due to unexpectedly
high levels of defaults and portfolio deterioration. Due to the
better metrics and shorter life of the current portfolio than the
Fitch-stressed portfolio, the class C notes display a rating
cushion of one notch while the class B and D notes of two notches,
and the class E and F notes of three notches.

Should the cushion between the current portfolio and the
Fitch-stressed portfolio be eroded either due to manager trading or
negative portfolio credit migration, a 25% increase of the mean RDR
across all ratings and a 25% decrease of the RRR across all ratings
of the stressed portfolio would lead to downgrades of up to four
notches for the rated notes.

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

A 25% reduction of the mean RDR across all ratings and a 25%
increase in the RRR across all ratings of Fitch-stressed portfolio
would lead to upgrades of up to five notches for the rated notes,
except for the 'AAAsf' rated notes.

During the reinvestment period, based on the Fitch-stressed
portfolio, upgrades, except for the 'AAAsf' notes, may occur on
better-than-expected portfolio credit quality and a shorter
remaining WAL test, allowing the notes to withstand
larger-than-expected losses for the remaining life of the
transaction. After the end of the reinvestment period, upgrades,
except for the 'AAAsf' notes, may occur on stable portfolio credit
quality and deleveraging, leading to higher credit enhancement and
excess spread available to cover losses in the remaining
portfolio.

DATA ADEQUACY

The majority of the underlying assets or risk-presenting entities
have ratings or credit opinions from Fitch and/or other nationally
recognised statistical rating organisations 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.

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.



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L U X E M B O U R G
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ADVANZIA BANK: Moody's Assigns First Time 'Ba1' Deposit Rating
--------------------------------------------------------------
Moody's Investors Service assigned first-time local-currency and
foreign-currency long-term and short-term deposit and issuer
ratings of Ba1/Not Prime to Advanzia Bank S.A. The outlook on the
long-term deposit and issuer ratings is positive.

Moody's also assigned a Baseline Credit Assessment (BCA) of ba2, an
Adjusted BCA of ba2, as well as long-term and short-term
Counterparty Risk (CR) Assessments of Baa2(cr)/Prime-2(cr) and
Counterparty Risk Ratings of Baa2/Prime-2.

RATINGS RATIONALE

Advanzia's deposit and issuer ratings of Ba1 result from (1) the
bank's BCA of ba2, (2) the application of Moody's Advanced Loss
Given Failure (LGF) analysis, resulting in a low loss given failure
and a one-notch uplift for deposit and issuer ratings and (3) a low
probability of government support, resulting in no uplift.

Advanzia's BCA of ba2 reflects (1) the bank's very high asset risk
incurred through its unsecured consumer lending activities pursued
in Western Europe, primarily in Germany, since its foundation in
2005, (2) its very high profitability resulting from high-margin
revolving credits, providing good coverage of loan-loss charges,
(3) its limited risk-weighted capitalisation buffer above
regulatory minima, reflecting high loan growth and dividend
payouts, (4) its funding profile dependent on price-sensitive
online saving deposits which will gradually diversify into more
stable, albeit confidence-sensitive, market funding instruments,
(5) its adequate liquidity and (6) elevated European Union (EU)
regulatory risks on consumer lending activities, especially as the
bank is exclusively focused on these activities.

Advanzia's asset risk is very high, reflecting the risk
characteristics of unsecured credit card lending, which Moody's
views as prone to high levels of impairment in economic downturns.
The bank's problem loan ratio was 7.3% at year-end 2022, a ratio
which is not fully reflective of asset risks because problem loans
are regularly sold or written off, which deflates the ratio.
Advanzia's cost of risk was 5.1% of outstanding credit card
borrowings in 2022. Although asset risk is very high, it is also
very granular with an average loan size of only around EUR1,700 and
the performance of behavioural risk underwriting and monitoring
models developed by Advanzia have been improving in recent years.
Moody's expects inflationary pressures to weigh on the bank's cost
of risk going forward. In addition, the expansion into new
countries, namely Spain and Italy, will typically result in higher
loan-loss charges, as risk models are not as seasoned as in the
bank's core German market.

Advanzia's capitalisation offers only modest buffers above
regulatory minima to offset high asset risks. The bank's common
equity tier 1 (CET1) capital ratio was 11.3%, excluding interim
profits, at year-end 2022. This was modestly above the EU's
Supervisory Review and Evaluation Process (SREP) CET1 minimum of
9.8%. The cushion above the regulatory minima is constrained by the
bank's significant loan growth (16% per year on average during the
period 2017-2022) and the track record of high earnings
distributions (83% on average in the period 2019-2021) on an
excess-cash-versus-capital basis.

Advanzia reports strong profitability and efficiency metrics thanks
to the very high interest rates charged to its credit card
borrowers. Net income was 3.8% of tangible assets in 2022,
unchanged versus 2021. These high profits are largely driven by
very high net interest margins, which were reported to be 15.1% on
the customer loan book in 2022. The bank's net interest margins
amply cover operating expenses, resulting in strong operating
efficiency as shown by its low cost-to-income ratio of 32.4% in
2022. Operating profits allow good coverage of credit losses.
Loan-loss charges represented 45% of operating profits in 2022.
Going forward, profitability should remain high, but profit margins
will be slightly under pressure. Interest rate rises will increase
the cost of Advanzia's price-sensitive online-deposits and  market
funding sources, whereas the bank has little leeway to increase the
interest rates charged to customers, resulting in lower net
interest margins. In addition, sluggish macroeconomic conditions
will add pressure on loan-loss charges. As a result, Moody's
expects profitability, measured as return on assets, to marginally
decrease in 2023 from the high levels observed in 2021 and 2022.

Advanzia finances its credit card lending activities essentially
through retail saving deposits raised online, which proved to be a
relatively stable and flexible source of funding historically.
Saving deposits represented 72% of total funding (including
shareholders' equity) at year-end 2022, the remainder being
provided by securitization (14%), Tier 2 (2%), Additional Tier 1
(AT1) (2%), common equity (9%) and other liabilities (2%). The bank
also has a EUR25 million senior secured multicurrency overdraft
facility, which is usually only partially drawn for hedging
purposes. Moody's views positively the objectives of the bank to
diversify its funding sources away from competitive and
price-sensitive online deposits.

The bank maintains ample liquidity on its balance sheet. Liquid
assets of EUR857 million, consisting of cash at central banks,
nostro bank accounts and loans to financial institutions,
represented 27% of tangible assets and 37% of deposits at year-end
2022, offering good security against deposit outflows and
unexpected client drawdowns on unused credit card limits. Credit
card loan balances reached EUR2.6 billion at year-end 2022, but
undrawn revolving credit limits, which are off-balance sheet
commitments, reached an additional EUR5.8 billion at the same
date.

Lastly, Moody's believes that concentration of the bank's activity
in the credit card business, primarily in Germany, exposes its
strategy to unexpected regulatory evolutions for consumer credit in
the EU.

In addition, Moody's Advanced LGF analysis indicates a low loss
given failure for both deposit and issuer ratings, thanks to
subordination in the form of AT1 securities and Tier 2 subordinated
debt, resulting in a one-notch uplift for these ratings.

The assigned ratings also incorporate Advanzia's environmental,
social and governance (ESG) considerations, as per Moody's
Investors Service's General Principles for Assessing Environmental,
Social and Governance Risks Methodology. Moody's assessment of
Advanzia's exposure to governance risks is moderately negative,
reflected in a Governance Issuer Profile Score (IPS) of G-3. This
assessment is supported by an appropriate board oversight and
effectiveness, management track record, reporting and compliance.
It also reflects relatively low capital retention and buffer above
minimum requirements, in light of high asset risks, and a highly
concentrated ownership structure. Moody's assessment of Advanzia's
exposure to social risks is highly negative, reflected in a Social
IPS of S-4, similar to most banks involved in retail banking
activities. Moody's expects that industry-wide social risks from
customer relations could represent a material challenge for the
bank should unexpected regulatory evolutions affect consumer credit
activities in Europe. Advanzia's governance and social risks drive
an ESG Credit Impact Score of CIS-3 which indicates a moderately
negative impact of ESG factors on the assigned ratings.

POSITIVE OUTLOOK

The outlook on Advanzia's long-term deposit and issuer ratings is
positive, reflecting Moody's expectation that these ratings will
benefit from higher volume and subordination of loss-absorbing
instruments, as the bank plans to diversify its funding sources
with the issuance of EUR300 million of senior unsecured debt in
2023.

Moody's also expects that the bank will maintain adequate capital
buffers and improve its funding profile in the face of likely
deterioration of asset quality and profitability due to muted
macroeconomic conditions.

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

Advanzia's deposit and issuer ratings would be upgraded as a result
of a decrease in loss given failure, should depositors and senior
creditors benefit from higher subordination and instrument volume
than is currently the case. Moody's expects upward rating pressure
to materialise when the bank sells at least EUR100 million of
senior unsecured debt, out of the EUR300 million planned in 2023.
The senior unsecured debt rating would, in this case, be positioned
at the same level as the issuer rating.

Moody's could also upgrade the BCA and ratings if the bank decided
to substantially increase its capitalisation buffers, while
preserving its profitability and risk profile.

Moody's could downgrade the BCA and ratings as a result of a
significant deterioration in asset quality impacting profitability
and capitalisation. In addition, a downgrade could also occur if
net interest margins and profitability substantially fall due to
interest rate movements or due to unfavourable regulatory
developments. Although unlikely at present, Advanzia's long-term
deposit and issuer ratings could also be downgraded as a result of
an increase in loss given failure, should these instruments benefit
from lower subordination and instrument volume than is currently
the case.

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Banks
Methodology published in July 2021.

AI CONVOY: Moody's Lowers CFR to B3, Outlook Remains Stable
-----------------------------------------------------------
Moody's Investors Service has downgraded the corporate family
rating of AI Convoy (Luxembourg) S.a.r.l. (Cobham) to B3 from B2
and its probability of default rating to B3-PD from B2-PD.
Concurrently, Moody's has downgraded to B2 from B1 the instrument
ratings on the senior secured first lien term loan B and term loan
B1 due 2027 and the senior secured multi-currency revolving credit
facility (RCF) due 2025. The outlook remains stable.

The rating action reflects:

Cobham's lack of Moody's-adjusted free cash flow generation,
compounded by rising interest rates

Governance considerations including an aggressive financial
strategy characterised by continuously very high Moody's-adjusted
leverage

Uncertain timing and magnitude of any material deleveraging from
the application of disposal proceeds to debt repayment

RATINGS RATIONALE

Governance considerations were a key driver of Cobham's downgrade,
in particular the company's aggressive financial strategy of
distributing a large share of disposal proceeds to shareholders and
maintaining very high leverage. Moody's-adjusted gross debt/EBITDA
was 9.5x at the end of December 2022. In addition to a portion of
one-off items, Moody's expenses capitalised development costs ($29
million in 2022) in its EBITDA and Moody's-adjusted debt includes
factoring. The company's leverage exceeded 12x pro forma for the
disposal of the Space segment of its Advanced Electronic Systems
(AES) division in January 2023 for $1.7 billion. Cobham repaid $600
million of debt, the minimum required by its debt documentation,
and distributed $1.1 billion to its shareholders while the group's
EBITDA after exceptional items reduced by around $110 million.

This leaves Cobham with a much smaller earnings base from which to
cover its interest obligations. The company does not hedge interest
costs and the significant increase in base rates will lead to a
rise in interest payments to around $180 million in 2023 according
to Moody's, despite the lower debt quantum versus 2022. This amount
includes an assumption of debt drawings to finance the acquisition
of sister company Ultra Electronics' specialised radio frequency
business in March 2023.

The debt-funded acquisition and still high one-off costs will
contribute to keeping Cobham's adjusted leverage very high, which
Moody's projects at over 9.0x in 2023 and at least 7.5x in 2024 on
an organic basis. Cobham's owners Advent intend to dispose of all
businesses but the timing and magnitude of any material
deleveraging from the application of disposal proceeds to debt
repayment remain uncertain.

In 2022, Cobham had negative Moody's-adjusted free cash flow (FCF,
after exceptional and interest costs) of -$141 million, partly
because of high exceptional cash costs and working capital
outflows. This follows a lack of cash generation in 2021 and 2020
already, the first two years since Cobham's LBO, whereas Moody's
had been expecting consistent cash generation. The rating agency
forecasts that Cobham will continue to burn cash operationally in
2023 despite a reduction in outflows for the above items.

Last year, Cobham incurred $109 million exceptional cash costs
(around a third of management's EBITDA before one-off items) in
relation to (i) transformation and restructuring initiatives
implemented by private equity owners Advent, (ii) charges and
outflows stemming from supply chain difficulties and (iii) fees and
transaction costs for disposals and acquisitions. Moody's expects
that Cobham will continue to incur such costs in 2023, albeit to a
smaller degree than in 2022. The rating agency includes $45 million
of these costs as expenses in arriving at Moody's-adjusted EBITDA
because it believes it represents a realistic level at the current
business perimeter.

In Moody's opinion, the large working capital outflows mostly
reflect timing issues related to the inability to bill certain
customers in Advanced Electronic Systems because of delays in
contract milestones not specific to Cobham. Nevertheless, the
rating agency expects some ongoing working capital usage from
revenue growth and long-term contracts with large customers in the
defence sector in particular.

The B3 corporate family rating further reflects: (1) the company's
exposure to periodic contract renewals and disputes, fixed price
contracts and cost overruns; (2) its relatively limited scale and
some end customer concentration; (3) high reliance on relationships
with OEMs, which could be adversely impacted by weak execution on
major programmes; and (4) uncertainty over the future profile of
earnings and cash flow following disposals and given high levels of
exceptional costs and cash outflows.

More positively, Cobham's credit strengths include: (1) the
company's portfolio of strategic programmes with entrenched
positions on key defence and commercial platforms; (2) stable to
growing global defence budgets; and (3) a portfolio well positioned
to benefit from shifting US defence priorities.

In addition, the rating agency views Cobham's very successful
disposal programme, however unusual for an LBO, as a credit
positive because it has provided substantial proceeds at high
valuations and Moody's believes that the remaining businesses have
similar potential. In addition, the rating agency expects that
Cobham will continue its good track record of like-for-like profit
growth in 2023, supported by revenue growth as well as $18 million
cost savings in its SatCom division. More broadly, the company
retains solid growth prospects thanks to its exposure to the
recovery of production rates in the commercial aerospace segment
and ongoing other cost saving actions.

LIQUIDITY

Moody's views Cobham's liquidity as adequate. The company had $135
million of cash on balance sheet following the disposal of the AES
Space business. The rating agency expects the company to carry a
cash balance of at least $100 million in light of Cobham's
long-term contracts and working capital requirements as well as the
negative FCF. Cobham's liquidity benefits from a revolving credit
facility (RCF) of $350 million, which Moody's expects will be
partly drawn to finance the recent acquisition of the specialised
radio frequency business from Ultra. The RCF has one springing
first lien net leverage covenant, tested when drawings exceed 40%
of total commitments, under which the company will retain
sufficient headroom.

STRUCTURAL CONSIDERATIONS

Cobham's senior secured first lien term loan B and B1 tranches
totaling $934 million outstanding equivalent (pro forma debt post
repayment of $600 million) and the pari passu-ranking $350 million
RCF borrowed by AI Convoy (Luxembourg) S.a.r.l. are rated B2, one
notch above the CFR. It reflects their seniority in the capital
structure and ranking ahead of the second lien term loan in the
event of security enforcement.

OUTLOOK

The stable outlook reflects Moody's expectation that Cobham will
(i) continue to grow revenue and EBITDA organically, leading to
some reduction in leverage and (ii) maintain at least adequate
liquidity, with reducing one-off cash costs.

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

Positive ratings pressure could develop over time if (1) Cobham's
Moody's-adjusted leverage reduces sustainably below 6.5x, and (2)
Cobham generates FCF on a sustained basis and its liquidity
improves, while maintaining a solid business profile. An upgrade
would also require continued like-for-like revenue and EBITDA
growth, the absence of major execution challenges on key platforms
and a more conservative financial policy in relation to dividend
distributions and leverage targets.

Cobham's ratings could be downgraded if (1) Moody's-adjusted gross
leverage does not reduce organically or following disposals,
towards 8x, or (2) negative FCF persists beyond 2023 and liquidity
weakens, or (3) the quality and scale of Cobham's business
materially declines, including in case of material execution issues
on key platforms, and in particular if leverage does not reduce
proportionally.

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Aerospace and
Defense published in October 2021.

COMPANY PROFILE

Founded in 1934, Cobham designs and manufactures a wide range of
equipment, specialised systems and components primarily for
defence, commercial aerospace and space sectors. In 2022, Cobham
reported revenues from continuing operations of around $1 billion.
The company is majority owned by funds controlled by Advent
International (Advent).



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

ARUBA: Fitch Hikes Foreign Currency IDR to 'BB+', Outlook Stable
----------------------------------------------------------------
Fitch Ratings has upgraded Aruba's Long-Term Foreign Currency
Issuer Default Rating (IDR) to 'BB+' from 'BB.' The Rating Outlook
is Stable.

KEY RATING DRIVERS

Upgrade; Stable Outlook: The upgrade of Aruba's rating to 'BB+'
reflects its strong post-pandemic economic and fiscal rebound,
driven by the tourism sector. Aruba's 'BB+' IDR also benefits from
strong Dutch institutional and financial support as a member of the
Kingdom of the Netherlands with 'status aparte', demonstrated by
the emergency financial liquidity loans and Covid-19 vaccine grants
during 2020-2021. The rating is supported by strong governance and
high per-capita income. The ratings are constrained by high public
debt and interest burdens and the vulnerability of the
single-pillar economy to external shocks.

Strong Recovery Driven by Tourism: GDP surpassed pre-pandemic
levels in 2022, driven by a strong recovery in the tourism sector.
Visitor arrivals in 2022 returned to 98% of 2019 levels, and
tourism receipts reached record levels. New hotel projects are
under construction or have recently opened, which will expand room
capacity by about 10% through 2025. The recovery of the cruise
industry has been more gradual (cruise visitors arrivals reaching
73% of 2019 levels). Fitch forecasts growth of 7% in 2022,
following a strong rebound of 17.2% in 2021.

Medium Term Growth to Slow: Fitch forecasts growth to slow to 3% in
2023, as continued growth in the tourism sector is offset by weak
investment and consumption. A potential U.S. recession presents
some downside risks to the growth forecasts, as the U.S. is Aruba's
primary tourism source market (78% of arrivals in 2022). Over the
medium term Fitch expects growth to return more in line with its
pre-pandemic average (2% average 2010-19). Aruba also faces
demographic challenges from an aging and declining population,
which could hinder availability of workers to staff new hotel
projects.

Significant Fiscal Improvement: The government's fiscal position
has improved significantly as the economy has rebounded. Fitch
estimates a 2022 deficit of -1.6% of GDP in line with the budget,
down from a -9.6% of GDP deficit in 2021 and a peak of -16.5% of
GDP in 2020. Fiscal consolidation has been supported by a recovery
in revenue and phasing out of transfers and lower expenses on goods
and services. Personnel continues to be the highest component of
expenditure (estimated nearly 30% in 2022), while interest costs
have become an increasing burden (17% of expenditure) in the
context of much higher debt and some variable interest rate
commercial bank loans.

2023 Budget Targets Surplus: The 2023 budget was completed on time
for the first time in many years and targets an overall budget
surplus of 1%. The fiscal improvement is expected to primarily come
from indirect taxes, as the government increased the BBO (turnover
tax, a tax on gross receipts) by 1% as of January 1 and plans to
introduce the BBO at the border in June this year, which would also
help improve tax compliance. Fitch forecasts a more gradual fiscal
consolidation (0.2% of GDP surplus in 2023), as the BBO at the
border will be introduced during the second half of the year.

Kingdom Relations, Refinancing Liquidity Support: The strength of
the relationship with the Netherlands was tested during the
pandemic, in which Aruba received significant support in terms of
both emergency medical supplies and liquidity. Refinancing of a
Dutch liquidity support loan provided during the pandemic (916
million Aruban florin, 14% of GDP) due in October will be a key
negotiation this year.

The Netherlands has asked the Aruban Parliament to pass binding
legislation on the financial supervision framework as a Kingdom
Act, that would enshrine the legal basis for the Aruba Board of
Financial Supervision (CAft) at the Kingdom level in addition to
local law. Fitch expects the loan to be refinanced, though the
favorability of the terms will be a subject of negotiation.

High Financing Needs: Fitch projects gross financing needs of 20.8%
of GDP in 2023, capturing the Dutch loan (14% of GDP), 7% of GDP in
domestic and external amortizations and the 0.2% of GDP budget
surplus. The government aims to meet its financing needs outside of
the Dutch loan primarily through the domestic market. Banks have
ample liquidity to purchase government paper. External
amortizations are also relatively large in 2024-2026. The
Netherlands helped fund commercial external debt amortizations that
came due in 2021-2022, but Fitch does not expect this support from
2023 onwards.

Declining Debt Trajectory: Fitch estimates consolidated general
government debt to have fallen to 84% of GDP in 2022, below its
pandemic peak of 97%, but still above its pre-pandemic 2019 level
of 62% of GDP and the 'BB' median of 55%. Fitch consolidates out
APFA holdings of government securities of 10% of GDP, implying
gross debt of 94% of GDP in 2022. Fitch forecasts debt to continue
to fall over the medium term as budget surpluses favorably impact
debt dynamics, reaching 75% by 2024. The interest/revenues ratio of
18.7% in 2022 is projected to moderate, albeit still well above the
'BB' median of 9.2%.

Large Current Account Surplus: Fitch estimates a large current
account surplus of 11% of GDP in 2022, as record high tourism
receipts more than offset the higher cost of goods and energy
imports. Fitch expects the current account surplus to remain large
in 2023 (9.7% of GDP) through continued growth in the tourism
sector. FDI has remained relatively resilient, particularly due to
strong real estate investment. International reserves reached
USD1.5 billion at end 2022 (113% by the IMF ARA metric, 6.5 months
of 2022 CXP).

Weak Monetary Policy Transmission: Average inflation rose to 5.5%
in 2022 from 0.8% in 2021, largely as a result of a higher cost of
imported goods, particularly fuel. Fitch forecasts inflation to
slow to 3% in 2023 as global price pressures ease. Given that
inflation is largely imported, the central bank's ability to
respond is relatively limited. The monetary policy transmission
channel is weak, and local interest rates have remained largely
unchanged for over a decade. The central bank has largely used
reserve requirements as a policy tool, significantly increasing
them from 7% to 25.5% to absorb excess liquidity in the banking
system.

Strong Banking Sector, Slow Credit Growth: The banking sector is
strong. Banks are well-capitalized (39.5% capital ratio end 2022).
NPLs are on a downward trajectory, falling to 3.4% as of 3Q22 from
a peak of 5% in 2020. Domestic credit growth has been quite flat
(2.6% in 2022), as demand for new credit remains limited as
borrowers remain cautious post-pandemic.

Governance: Aruba has an ESG Relevance Score (RS) of '5[+]' &
5[+]', respectively for both Political Stability and Rights and for
the Rule of Law, Institutional and Regulatory Quality and Control
of Corruption. Theses scores reflect the high weight that the World
Bank Governance Indicators (WBGI) have in its proprietary Sovereign
Rating Model (SRM). Aruba has a high WBGI ranking at the 86th
percentile, reflecting its long track record of stable and peaceful
political transitions, well established rights for participation in
the political process, strong institutional capacity, effective
rule of law and a low level of corruption.

RATING SENSITIVITIES

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

- Public Finances: Renewed increase of the consolidated gross
government debt/GDP, for example, through a lack of sufficient
fiscal policy measures or prolonged weak economic growth;

- External Finances: Deterioration of the relationship with the
Netherlands that causes financing constraints or results in
significantly higher external borrowing costs and brings
credibility risks for the exchange rate peg;

- Macro: Severe economic shock emanating from the tourism sector.

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

- Public Finances: Increased confidence that debt will remain on a
sustained downward trajectory; for example, via fiscal reforms that
support sustained budget surpluses and refinancing of Dutch
liquidity support loans on favorable terms;

- Macro: Evidence of continued economic momentum and resilience to
a global economic downturn, particularly a U.S. recession.

SOVEREIGN RATING MODEL (SRM) AND QUALITATIVE OVERLAY (QO)

Fitch's proprietary SRM assigns Aruba a score equivalent to a
rating of 'BBB-' on the Long-Term Foreign Currency IDR scale.

Fitch's sovereign rating committee adjusted the output from the SRM
to arrive at the final Long-Term Foreign Currency IDR by applying
its QO, relative to SRM data and output, as follows:

Public Finances: 1 notch, to reflect a high government debt burden
and a fiscal framework that has yet to be tested in anchoring debt
on a sustained downward path. The SRM is estimated on the basis of
a linear approach to government debt/GDP and does not fully capture
the risks and constraints to policy flexibility posed by high debt
levels.

Fitch's SRM is the agency's proprietary multiple regression rating
model that employs 18 variables based on three-year centered
averages, including one year of forecasts, to produce a score
equivalent to a Long-Term Foreign Currency IDR. Fitch's QO is a
forward-looking qualitative framework designed to allow for
adjustment to the SRM output to assign the final rating, reflecting
factors within its criteria that are not fully quantifiable and/or
not fully reflected in the SRM.

ESG CONSIDERATIONS

Aruba has an ESG Relevance Score of '5[+]' for Political Stability
and Rights as WBGIs have the highest weight in Fitch's SRM and are
therefore highly relevant to the rating and a key rating driver
with a high weight. As Aruba has a percentile rank above 50 for the
respective Governance Indicator, this has a positive impact on the
credit profile.

Aruba has an ESG Relevance Score of '5[+]' for Rule of Law,
Institutional & Regulatory Quality and Control of Corruption as
WBGIs have the highest weight in Fitch's SRM and are therefore
highly relevant to the rating and are a key rating driver with a
high weight. As Aruba has a percentile rank above 50 for the
respective Governance Indicators, this has a positive impact on the
credit profile.

Aruba has an ESG Relevance Score of '4[+]' for Human Rights and
Political Freedoms as the Voice and Accountability pillar of the
WBGIs is relevant to the rating and a rating driver. As Aruba has a
percentile rank above 50 for the respective Governance Indicator,
this has a positive/negative impact on the credit profile.

Aruba has an ESG Relevance Score of '4[+]' for Creditor Rights as
willingness to service and repay debt is relevant to the rating and
is a rating driver for Aruba, as for all sovereigns. As Aruba has a
track record of 20+ years without a restructuring of public debt
and captured in its SRM variable, this has a positive impact on the
credit profile.

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

   Entity/Debt                  Rating          Prior
   -----------                  ------          -----
Aruba            LT IDR          BB+  Upgrade      BB
                 ST IDR          B    Affirmed      B
                 LC LT IDR       BB+  Upgrade      BB
                 LC ST IDR       B    Affirmed      B
                 Country Ceiling BBB- Upgrade     BB+

   senior
   unsecured     LT              BB+  Upgrade      BB



=============
R O M A N I A
=============

EUROINS ROMANIA: Financial Regulator Withdraws Operating License
----------------------------------------------------------------
Razvan Timpescu at SeeNews reports that Romania's financial
regulator said on March 17 that it has withdrawn the operating
licence of Euroins Romania, part of Bulgaria's Euroins Insurance
Group, and decided to file a court request for starting bankruptcy
proceedings.

According to SeeNews, the regulator said in a statement the
Romanian supervision authority, ASF, has appointed the
Policyholders Guarantee Fund (FGA) as an interim administrator of
Euroins.






=========
S P A I N
=========

BBVA CONSUMO 12: Moody's Rates EUR150MM Series B Notes 'B1'
------------------------------------------------------------
Moody's Investors Service has assigned the following definitive
ratings to the Notes issued by BBVA Consumo 12, FT ("the Issuer"):

EUR2850M Series A Fixed Rate Asset Backed Notes due August 2036,
Definitive Rating Assigned Aa3 (sf)

EUR150M Series B Fixed Rate Asset Backed Notes due August 2036,
Definitive Rating Assigned B1 (sf)

RATINGS RATIONALE

The transaction is a static cash securitisation of Spanish
unsecured consumer loans originated by Banco Bilbao Vizcaya
Argentaria, S.A. (BBVA) (A3/A3(cr), A2 LT Bank Deposits). The
portfolio consists of consumer loans used for several purposes,
such as car acquisition, property improvement and other undefined
or general purposes. BBVA also acts as servicer, collection account
bank and issuer account bank provider of the transaction.

The underlying assets consist of consumer loans with fixed rates
(100% of the pool) and a total outstanding balance of approximately
EUR3,000 million. The final portfolio is selected at random from
the provisional portfolio of EUR3,305 million at closing. As of
January 11, 2022, the provisional portfolio has 316,147 loans with
a weighted average interest of 5.78%. The portfolio is highly
granular with the largest and 20 largest borrowers representing
0.004% and 0.07% of the pool, respectively. The portfolio also
benefits from a good geographic diversification and good weighted
average seasoning of 16.2 months.  

The transaction benefits from credit strengths such as a strong
artificial write-off, which traps the available excess spread to
cover any losses when the loan has been six months in arrears.
Interest and principal on Class B are fully subordinated to Class A
and the amortization of the Notes is fully sequential. There is no
interest rate risk as interest rates on the assets and the Notes
are fixed.

However, Moody's notes that there is a risk of yield compression as
96.0% of the loans in the pool have the option of an automatic
discount on the loan interest rate as a result of future cross
selling of other products. Various mitigants have been put in place
in the transaction structure, such as performance-related triggers
to stop the amortisation of the reserve fund. Commingling risk is
mitigated by the transfer of collections to the issuer account bank
within two days and the high rating of BBVA (A3/A3(cr), A2 LT Bank
Deposits). If BBVA's long term deposit rating is downgraded below
Baa2, it will either transfer the issuer account to an eligible
entity or appoint an eligible guarantor for the obligations of
BBVA.

Moody's analysis focused, amongst other factors, on (i) an
evaluation of the underlying portfolio of consumer loans and the
eligibility criteria; (ii) historical performance data provided on
BBVA's total book and past consumer loan ABS transactions and
performance of previous BBVA Consumo deals; (iii) the credit
enhancement provided by subordination, excess spread and the
reserve fund; (iv) the liquidity support available in the
transaction by way of principal to pay interest; and (v) the
overall legal and structural integrity of the transaction.

MAIN MODEL ASSUMPTIONS

Moody's determined a portfolio lifetime expected mean default rate
of 4.5%, expected recoveries of 15.0% and a portfolio credit
enhancement ("PCE") of 17.0%. The expected defaults and recoveries
capture Moody's expectations of performance considering the current
economic outlook, while the PCE captures the loss Moody's expect
the portfolio to suffer in the event of a severe recession
scenario. Expected defaults and PCE are parameters used by Moody's
to calibrate its lognormal portfolio loss distribution curve and to
associate a probability with each potential future loss scenario in
its ABSROM cash flow model to rate consumer ABS transactions.

The portfolio expected mean default rate of 4.5% is in line with
recent Spanish consumer loan transaction average and is based on
Moody's assessment of the lifetime expectation for the pool taking
into account: (i) historic performance of the loan book of the
originator, (ii) good performance track record on most recent BBVA
Consumo deals with cumulative 3m+ arrears below 3.95%, (iii)
benchmark transactions, and (iv) other qualitative considerations.

Portfolio expected recoveries of 15% are in line with recent
Spanish consumer loan average and are based on Moody's assessment
of the lifetime expectation for the pool taking into account: (i)
historic performance of the loan book of the originator, (ii)
benchmark transactions, and (iii) other qualitative considerations
such as quality of data provided.

The PCE of 17.0% is in line with other Spanish consumer loan peers
and is based on Moody's assessment of the pool taking into account
the relative ranking to originator peers in the Spanish auto loan
market. The PCE of 17.0% results in an implied coefficient of
variation ("CoV") of 51.35%.

The principal methodology used in these ratings was "Moody's
Approach to Rating Consumer Loan-Backed ABS" published in December
2022.

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

Factors or circumstances that could lead to an upgrade of the
ratings of the Notes would be (1) better than expected performance
of the underlying collateral; or (2) an improvement of Spain's
sovereign risk leading to the removal of the local currency ceiling
cap.

Factors or circumstances that could lead to a downgrade of the
ratings would be (1) worse than expected performance of the
underlying collateral; (2) deterioration in the credit quality of
BBVA; or (3) an increase in Spain's sovereign risk.



=====================
S W I T Z E R L A N D
=====================

CREDIT SUISSE: UBS in Advanced Talks to Acquire Swiss Bank
----------------------------------------------------------
Kathryn Armstrong and Lucy Hooker at BBC News report that
Switzerland's biggest bank, UBS, is in advanced talks to buy all or
part of its troubled rival Credit Suisse.

According to BBC, Credit Suisse, the second largest Swiss bank, is
facing a crisis of confidence and its shares have fallen sharply in
recent days, sending ripples of concern through the markets.

The trouble at Credit Suisse, combined with the failure of two
smaller US banks during the last two weeks, have thrown the health
of the global financial system into doubt, BBC notes. Credit Suisse
is one of around 30 banks worldwide deemed too big to fail because
they are of such importance to the banking system. But the
167-year-old institution is loss-making and has faced a string of
problems in recent years, including money laundering charges, BBC
discloses.

An emergency US$54 billion (GBP44.5 billion) lifeline from the
Swiss National Bank on Wednesday, March 15, failed to reassure
markets and Credit Suisse shares tumbled 24%, prompting a wider
sell-off on European markets, BBC recounts.

UBS shareholders would normally have six weeks to consider a deal
on this scale, but the FT says the Swiss authorities are planning
to change the country's laws to bypass a shareholder vote on the
transaction, according to BBC.

UBS is said to have asked the Swiss government to cover about US$6
billion (GBP4.9 billion) in costs if it were to buy Credit Suisse,
according to sources quoted by Reuters.

Credit Suisse reported a loss of CHF7.3 billion (US$7.9 billion;
GBP6.5 billion) in 2022 -- its worst year since the financial
crisis of 2008 -- and has warned it does not expect to be
profitable until 2024, BBC discloses. UBS, however, made a profit
of US$7.6 billion in 2022, BBC notes.

Any deal may also result in significant job losses, according to
BBC.

As well as being a domestic bank with 95 branches, Credit Suisse
has a global investment banking operation and manages the assets of
rich clients.

At the end of last year Credit Suisse had a global staff of 50,480,
including 16,700 in Switzerland, though 9,000 jobs were to be axed,
the Swiss broadcaster SRF reports.

                    UBS's Statement

UBS plans to acquire Credit Suisse. The combination is expected to
create a business with more than USD 5 trillion in total invested
assets and sustainable value opportunities. It will further
strengthen UBS's position as the leading Swiss-based global wealth
manager with more than USD 3.4 trillion in invested assets on a
combined basis, operating in the most attractive growth markets.

The transaction reinforces UBS's position as the leading universal
bank in Switzerland. The combined businesses will be a leading
asset manager in Europe, with invested assets of more than USD 1.5
trillion.

UBS Chairman Colm Kelleher said: "This acquisition is attractive
for UBS shareholders but, let us be clear, as far as Credit Suisse
is concerned, this is an emergency rescue. We have structured a
transaction which will preserve the value left in the business
while limiting our downside exposure. Acquiring Credit Suisse's
capabilities in wealth, asset management and Swiss universal
banking will augment UBS's strategy of growing its capital-light
businesses. The transaction will bring benefits to clients and
create long-term sustainable value for our investors."

UBS Chief Executive Officer Ralph Hamers said: "Bringing UBS and
Credit Suisse together will build on UBS's strengths and further
enhance our ability to serve our clients globally and deepen our
best-in-class capabilities. The combination supports our growth
ambitions in the Americas and Asia while adding scale to our
business in Europe, and we look forward to welcoming our new
clients and colleagues across the world in the coming weeks."

The discussions were initiated jointly by the Swiss Federal
Department of Finance, FINMA and the Swiss National Bank and the
acquisition has their full support.

Under the terms of the all-share transaction, Credit Suisse
shareholders will receive 1 UBS share for every 22.48 Credit Suisse
shares held, equivalent to CHF 0.76/share for a total consideration
of CHF 3 billion. UBS benefits from CHF 25 billion of downside
protection from the transaction to support marks, purchase price
adjustments and restructuring costs, and additional 50% downside
protection on non-core assets. Both banks have unrestricted access
to the Swiss National Bank existing facilities, through which they
can obtain liquidity from the SNB in accordance with the guidelines
on monetary policy instruments.

The combination of the two businesses is expected to generate
annual run-rate of cost reductions of more than USD 8 billion by
2027.

UBS Investment Bank will reinforce its global competitive position
with institutional, corporate and wealth management clients through
the acceleration of strategic goals in Global Banking while
managing down the rest of Credit Suisse’s Investment Bank. The
combined investment banking businesses accounts for approximately
25% of Group risk weighted assets.

UBS anticipates that the transaction is EPS accretive by 2027 and
the bank remains capitalized well above its target of 13%.

Colm Kelleher will be Chairman and Ralph Hamers will be Group CEO
of the combined entity.
The transaction is not subject to shareholder approval. UBS has
obtained pre-agreement from FINMA, Swiss National Bank, Swiss
Federal Department of Finance and other core regulators on the
timely approval of the transaction.

          Cleary Gottlieb Advised Credit Suisse in Talks

Cleary Gottlieb Steen & Hamilton LLP advised long standing client
Credit Suisse in connection with aspects of the proposed merger
with UBS announced on March 19, following the intervention of the
Swiss Federal Department of Finance, the Swiss National Bank and
the Swiss Financial Market Supervisory Authority FINMA (FINMA).  

Cleary Gottlieb's multi-decade work for Credit Suisse across a
range of interdisciplinary matters dates back to Credit Suisse's
original SEC registration and NYSE listing in 2001.

Cleary's global cross-disciplinary team, which has been also active
in many of the recent high profile regulatory, restructuring and
financing matters in the financial sector, included partners Craig
Brod, Sebastian Sperber, David Lopez, Derek Bush, Lisa Schweitzer,
and Deborah North, counsel Sarah Lewis and Brandon Hammer, and
associates Lauren Semrad, Mohamed Taha, Julia Knight, Selene Park,
and James Abate.




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

BRITISHVOLT: New Owners Get More Time to Build Batter Factory
-------------------------------------------------------------
BBC News reports that a council has given the new owners of
Britishvolt more time to build a planned battery factory.

According to BBC, Northumberland County Council has extended a
buy-back clause on the land at the former Blyth Power Station.

The council's contract allowed it to buy back the land from
Britishvolt if work was not completed in a set time, BBC states.

Recharge Industries, which bought Britishvolt after it went in to
administration, said it remained committed to the gigafactory, BBC
relates.

Britishvolt bought the land in 2021 for GBP2 million with plans to
build a vast factory for the manufacture of electric car batteries,
BBC discloses.

The council's buy-back clause meant it was able to buy back the
site for the same amount if development was not completed within 39
months of obtaining planning permission, BBC notes.

In January, Britishvolt collapsed into administration, throwing the
project into jeopardy, BBC recounts.

The new owners have said they still intend to go ahead with the
gigafactory, the Local Democracy Reporting Service said, according
to BBC.

However, it was agreed the original deadline for the buy-back
clause was now too tight, BBC says.  Leading councillors agreed to
extend the deadline -- although that date was not specified in
public, BBC notes.

Speaking at the meeting, council leader Glen Sanderson confirmed
his administration remained committed to the gigafactory, BBC
relays.


CAMELOT UK: S&P Upgrades ICR to 'B+', Outlook Positive
------------------------------------------------------
S&P Global Ratings raised its issuer credit rating to 'B+' from 'B'
on U.S.-based information, analytics and workflow solutions
provider Camelot UK Holdco Ltd.'s (doing business as Clarivate). At
the same time, S&P also raised its issue-level ratings on the
company's senior secured debt to 'B+' and on its senior unsecured
debt to 'B-'.

The positive outlook reflects S&P's expectation that Clarivate will
successfully complete the integration of its Proquest acquisition,
organically grow its revenue in the low-single digit percentage
area and generate substantial free operating cash flow such that
S&P Global Ratings-adjusted leverage will decline to the low-5x
area by the end of 2023.

The upgrade reflects S&P's view that Clarivate's net leverage will
decline to the low-5x area in 2023 due to EBITDA growth and its
planned conversion of preferred shares to equity.

The company's revenue and EBITDA improved substantially in 2022 as
a result of its acquisition of Proquest. The company also benefited
from continued organic revenue growth in the low-single digits area
in 2022 despite a slowdown in transaction activity due to
macroeconomic headwinds. The improved EBITDA generation combined
with $500 million of debt reduction funded from $300 million in
proceeds of its MarkMonitor divestiture and $200 million of cash
flow resulted in S&P Global Ratings-adjusted leverage of about 6.5x
at the end of 2022.

As of Dec. 31, 2022, the company's S&P Global Ratings-adjusted debt
totaled over $6.2 billion, including $1.4 billion in debt-like
series A mandatory convertible preferred shares that it raised to
partially fund the ProQuest acquisition in 2021. S&P said, "We
treat the preferred shares as debt in our adjustments due to their
debt-like characteristics including a 5.25% annual dividend. We
will remove the preferred shares from our debt adjustments at 12
months prior to their conversion date in June 2024. Coupled with
this reduction in adjusted debt in mid-2023, we expect the
company's EBITDA generation will improve through 2023 and 2024 as
the company benefits from expected low-single digit organic revenue
growth, operational efficiencies, and the reduction in integration
expenses related to the ProQuest acquisition. Specifically, we
expect EBITDA margins in the mid-30% area in 2023 and improving to
the high-30% area in 2024. As a result of declining adjusted
leverage and improving EBITDA, S&P Global Ratings-adjusted leverage
will decline to about 5x in 2023, and adjusted free operating cash
flow (FOCF) to debt will improve to about 10% by the end of 2023
from 5% in 2022."

The company continues to prioritize leverage reduction over the
near term, but sizeable shareholder returns and inorganic growth
activities possible longer term.

The company has publicly stated its goal to reduce net leverage
below 4x by the end of 2023 and further to below 3x by 2025, from
4.2x as of Dec. 31, 2022. Specifically, management has outlined its
plans to allocate most of the company's free operating cash flow
toward reinvestment in the business to enhance its existing product
offerings as well as ongoing debt reduction to decrease its
floating rate exposure. Notwithstanding, the company maintains
discretion over other capital allocation initiatives that may slow
the pace of long-term leverage reduction. Clarivate previously
announced a $1 billion share buyback program through 2023, $825
million of which was outstanding as of Dec. 31, 2022. S&P has
assumed modest levels of share buybacks over the next 24 months.

Management has previously stated the desire to substantially
increase the company's revenue base from both organic and inorganic
growth. S&P said, "We view this as consistent with its track record
of supplementing organic revenue growth with acquisitions that add
capabilities, improve its client reach, and diversify revenues.
While these transactions will be positive for the scale of the
business, we note the company has partially funded its past three
acquisitions of Decisions Resources Group (DRG), CPA Global, and
ProQuest with debt and debt-like securities. As a result, S&P
Global Ratings-adjusted leverage has previously remained above our
upgrade trigger to achieve a 'B+' rating. Given the size of the
company's previous inorganic growth initiatives, it is very likely
that future acquisitions will be partially funded by debt or
debt-like securities. We believe the ultimate impact to the
company's future leverage profile will greatly depend on how it
chooses to fund these acquisitions by using a mix of equity, debt,
or debt-like securities. In addition to the mix of debt funding for
these transactions, we also highlight that ongoing acquisition
activity may increase the risk of operational missteps or
accounting misstatements (as experienced with the CPA global
acquisition)."

Clarivate's tech-enabled data offerings are diverse and provide
good revenue visibility, supporting our expectation for low-single
digit organic revenue growth over the next two years.

S&P said, "Despite our expectations for a shallow U.S. recession in
2023 resulting from high prices and rising borrowing costs
squeezing U.S. households, we expect Clarivate's total revenue to
grow organically in the low-single digit percentage area to $2.7
billion in 2023. This revenue base is supported by the company's
market approach and client demand for its tech-enabled data
offerings proffered by its three operating segments. Clarivate's
Academia & Government segment, which comprises nearly half of
revenue, provides products and services to organizations that plan,
fund, implement and utilize education and research at a global,
national, institutional, and individual level. The Intellectual
Property segment, comprising one-third of the company's revenues,
provides intellectual property management services including
patent, trademark, and domain services and expertise. The Life
Sciences & Healthcare segment, comprising roughly 17% of total
revenue, includes products and solutions that provide insight and
foresight across the drug and device lifecycle for life sciences
and healthcare organizations. In total, the company services a
diverse array of clients, roughly 50,000, in over 180 countries.
Also, roughly 80% of the company's sales are either subscription
based or recurring in nature (predictable annual renewals). The
remaining 20% are transaction-based services and subject to more
direct one-off interactions by the company's sales teams. Overall,
we view this revenue platform as favorable because it increases the
predictability of revenues and reduces the risk of substantial
operating performance declines due to events such as client losses.
Nevertheless, in our view, the most relevant risks to revenue
growth are an unforeseen deterioration in service capabilities, a
loss of perceived quality by clients, reductions in spending by
budget-conscious clients during economic downturns, or operational
missteps regarding transaction revenues.

"The positive outlook reflects our expectation that Clarivate will
organically grow its revenue in the low-single digit area and
generate substantial free operating cash flow such that S&P Global
Ratings-adjusted leverage will decline to the low-5x area by the
end of 2023."

S&P could revise the outlook to stable if it expects leverage to
remain above 5x due to:

-- Partially debt-funded acquisitions;

-- Substantial shareholder rewarding activities; or

-- A substantial pullback in transactional activity or operational
missteps that reduce EBITDA and cash flow generation.

S&P could raise its rating on Clarivate in the next 12 months if:

-- Organic revenue by the mid-single-digit percent area;

-- S&P anticipates it will reduce its leverage below 5x and
sustain it at that level--including the potential for future
acquisitions and shareholder rewarding activities; and

-- It generates FOCF to debt above the 10% percent area on a
sustained basis.

ESG Credit Indicators: E-2, S-2, G-2


CINEWORLD GROUP: Vue International Acquisition Bid Faces Hurdle
---------------------------------------------------------------
Sinchita Mitra and Yadarisa Shabong at Reuters, citing Sky News,
report that London-based cinema operator Vue International has not
been able to pursue discussions about a deal for struggling rival
Cineworld Group, after it was frozen out of a sale process run by
Cineworld's advisers.

According to Reuters, Cineworld, the world's second-largest cinema
chain operator, is exploring a sale and looking at a possible plan
of reorganisation to fix its debt-ridden balance sheet as it aims
to exit Chapter 11 bankruptcy in the first half of this year.

The Sky report added it was unclear whether the discussions would
be revived, Reuters notes.

Sky News had previously reported Picturehouse founder Lyn Goleby
held talks with Vue about buying back the chain sold to the
bankrupt cinema operator in 2012, a move that would have assisted
Vue from a competition perspective.

                      About Cineworld Group

London-based Cineworld Group PLC was founded in 1995 and is the
world's second-largest cinema chain. Cineworld operates 751 sites
with 9,000 screens in 10 countries, including the Cineworld and
Picturehouse screens in the UK and Ireland, Yes Planet in Israel,
and Regal Cinemas in the United States.

According to The Guardian, the Griedinger family, including Mooky's
brother and deputy chief executive, Israel, have struggled to
maintain control of the ailing business but have been forced to
reduce their stake from 28% in recent years.  Cineworld's top five
investors include the Chinese Jangho Group at 13.8%, Polaris
Capital Management (7.82%), Aberdeen Standard Investments (4.98%)
and Aviva Investors (4.88%).

The London-listed Cineworld, which has run up debt of more than
$4.8 billion after losses soared during the pandemic, is pinning
its hopes on a meatier slate of movies in 2022 to bounce back from
a two-year lull.

Cineworld Group plc and 104 affiliates sought Chapter 11 protection
(Bankr. S.D. Texas Lead Case No. 22-90168) on Sept. 7, 2022,
estimating more than $1 billion in assets and debt. Judge Marvin
Isgur oversees the cases.

The Debtors tapped Kirkland & Ellis, LLP and Jackson Walker, LLP as
bankruptcy counsels; PJT Partners, LP as investment banker;
AlixPartners, LLP as restructuring advisor; and Ernst & Young, LLP
as tax services provider. Kroll Restructuring Administration, LLC
is the claims agent.

The U.S. Trustee for Region 7 appointed an official committee of
unsecured creditors in the Debtors' Chapter 11 cases on Sept. 23,
2022. The committee tapped Weil, Gotshal & Manges, LLP and
Pachulski Stang Ziehl & Jones, LLP as legal counsels; FTI
Consulting, Inc., as financial advisor; and Perella Weinberg
Partners, LP as investment banker.


HALLMARK SHEET: Enters Administration, 24 Jobs Affected
-------------------------------------------------------
Rob Andrews at StokeonTrentLive reports that twenty-four jobs have
been saved at a Stoke-on-Trent manufacturer -- after the company
collapsed into administration.

Hallmark Sheet Metal had been trading successfully on Oldfields
Business Park, in Fenton, since 1996.

But the company appointed administrators earlier this month after
being battered by falling turnover as well as increased energy
costs and overheads, StokeonTrentLive relates.  Now administrator
Leonard Curtis has revealed that the company has been sold and
every job retained, StokeonTrentLive discloses.

According to StokeonTrentLive, a Leonard Curtis spokesman said:
"Company turnover had decreased in recent years and the rising
price of overheads and energy costs saw Hallmark fall into arrears
with HM Revenue & Customs and trade creditors while failing to keep
up with repayments to funders.

"Despite Hallmark's financial problems, Leonard Curtis helped to
put the business up for sale and attracted significant interest
from several parties.  An offer for the business and its assets was
received from related-party Hallmark Manufacturing and a
pre-packaged sale of the business and its assets was completed.

"Hallmark's underlying business model was strong. But it was
affected by the perfect storm of difficult circumstances.  We are
delighted to conclude a sale and save livelihoods at a tough time
for businesses in all sectors."


MAGENTA 2020: S&P Affirms 'BB- (sf)' Rating on Class E Notes
------------------------------------------------------------
S&P Global Ratings affirmed its 'AAA (sf)' credit rating on Magenta
2020 PLC U.K.'s class A notes, and its 'AA- (sf)', 'A- (sf)', 'BB
(sf)', and 'BB- (sf)' ratings on the class B, C, D, and E notes,
respectively.

Rating rationale

S&P said, "The rating actions follow our updated review of the
transaction's credit and cash flow characteristics. Performance has
recovered since our last review in July 2020 as the U.K emerged
from the coronavirus pandemic and hotels returned to trading. The
portfolio's revenue has bounced back to within 2% of pre-pandemic
levels. At the same time, operating costs have increased due to
higher energy and staff costs. The resulting S&P Value has
decreased by less than 1% since our previous review. As a result,
we affirmed our ratings on all classes of notes."

Transaction overview

Magenta 2020 is backed by one loan, which was originated in
December 2019 to facilitate the acquisition of 17 full-service
hotel properties in the U.K. The securitized loan balance equals
GBP247.8 million, down from GBP270.9 million at closing, and is
secured by seven Crowne Plaza, three Doubletree by Hilton, three
Hilton Garden Inn, one Holiday Inn, one Hotel Indigo, and two AC
Hotel by Marriott branded hotels throughout the U.K.

The hotels in the portfolio had to close in March 2020. Performance
remained limited between July 2020 and May 2021 due to restrictions
on corporate and international travel or hotels being limited to
only housing vital personnel. As hotels reopened to the public,
spring, and summer 2021 saw a pick-up in domestic U.K. leisure
demand as well as some corporate travel. The winter months saw
weekend leisure demand in the larger cities and an increase in
small corporate meetings and events. During the outbreak of the
Omicron variant in Q4 2021, bookings across the portfolio declined
temporarily.

Performance bounced back in 2022 and as of Q3 2022, the trailing
12-month average daily rate (ADR) was GBP97 reflecting a 6.2%
increase since Q3 2021 and a 12.1% increase since Q4 2019. The
trailing 12-month portfolio occupancy was 72.5% compared to 39.6%
as of September 2021, although below the 83.5% occupancy as of
December 2019.

The loan had an initial two-year term with three one-year extension
options. At original loan maturity in December 2021, the loan would
not have met the extension conditions and was restructured. The
restructuring included, among other changes, a mandatory GBP12.0
million prepayment to the senior loan funded from equity on the
March 2022 loan interest payment date; shortfall equity amounts to
be funded by the borrower to meet operating expenses shortfalls
until the first date on which no cash trap event continues for two
consecutive interest payment dates (the non-compliant period); and
a cash trap reserve of at least GBP7.5 million during the
non-compliant period. In exchange, the senior loan maturity date
was extended to December 2024.

The debt yield test exceeded the cash trap threshold for two
consecutive payment dates as of December 2022, and the debt yield
non-compliant period ended. Thereafter, the originally agreed debt
yield cash trap and covenants are in effect for the senior loan.

As of December 2022, the debt yield test was at 9.93% and complied
with triggers, and the loan-to-value (LTV) ratio was 62.3%. After
the end of the non-compliant period, the loan's event of default
covenants are triggered if the LTV ratio exceeds 72.19% or if the
debt yield is less than 8.75% thereafter. A debt yield of less than
9.59% or LTV ratio exceeding 67.19% would trigger a mandatory cash
trap event.

The senior loan was interest-only for the first 15 months and then
amortizes 0.25% quarterly. Amortization doubles when the debt yield
is less than 11.3% and the LTV ratio exceeds 50%. The loan has paid
down GBP11.0 million, or 0.50% quarterly, through scheduled
amortization.

According to the most recent market valuation dated Sept. 30, 2022,
the hotel portfolio's market value was GBP397.6 million, which
reflects a 3.4% increase from the previous valuation of GBP384.4
million as of August 2021. However, this is 8.7% lower than the
market value of GBP435.6 million at closing. The market value
decline has been offset by the loan's GBP23.0 million amortization.
Consequently, the whole LTV ratio is now 62.3%, relatively
unchanged from 62.2% at closing.

  Loan And Collateral Summary
                             CURRENT REVIEW   PREVIOUS REVIEW

  Data as of                 December 2022       June 2020    

  Number of properties             17               17

  Loan outstanding
  principal (mil. GBP)            247.8            270.9

  LTV ratio (%)                    62.3             62.2

  Market value (mil. GBP)         397.6            435.6

  Debt yield (%)                   9.93             9.57



  Key Assumptions
                             CURRENT REVIEW   PREVIOUS REVIEW

  S&P RevPAR                       71.7             65.3

  S&P Net Cash Flow (mil. GBP)     26.5             26.6

  S&P Value (mil. GBP)            321.4            323.7

  S&P cap rate                     7.82             7.82

  Haircut to reported  
  market value (%)                 19.2             25.7

  S&P LTV ratio before
  recovery rate adjustments (%)    77.1             83.7


  RevPAR--Revenue per available room.


S&P has reduced its net cash flow (S&P NCF) to GBP26.5 million from
GBP26.6 million. Although our RevPAR assumption exceeds that in its
last review, in line with the portfolio's improved ADR, its
non-recoverable expenses assumption has increased to 80% from 78%
due to the higher operating costs.

The portfolio's weighted-average cap rate has remained unchanged at
7.82%, which leads to a revised S&P Value of GBP321.4 million,
after also adjusting for purchase costs. This translates to a
decline of 0.7% from the S&P Value calculated in our last review,
and a 19.2% discount to the most recent market value.

Other analytical considerations
At closing, an additional GBP8.3 million of class A notes were
issued, the proceeds of which are held in cash in the transaction
account. These funds serve as a liquidity reserve in lieu of a
traditional liquidity facility. The liquidity reserve's current
balance is GBP8.0 million. It is available to fund, among other
things, senior expenses and interest payments on the class A, B,
and C notes. However, whilst no interest shortfalls have occurred,
the class D and E notes do not benefit from any liquidity
coverage.

S&P's analysis also included a review of the legal and regulatory,
operational and administrative, and counterparty risks. Its
assessment of these risks remains unchanged since closing and is
commensurate with the ratings assigned.

Rating actions

S&P said, "In our view, the transaction's credit quality has
rebounded following the end of lockdowns and the reopening of
hotels. ADR is driving hotel performance recovery with levels above
2019. Hotel occupancy is still below pre-pandemic levels although
increasing. 2023 will likely see an ADR correction due to the
return of outbound leisure tourism and rising corporate travel, in
our view. The cost of living crisis, driven by inflationary
pressures is likely to also dampen recovery. Furthermore, we
believe that operating costs are likely to remain high, mainly
driven by energy and labor costs.

"The decrease in the S&P Value results in a LTV ratio before
recovery rate adjustments of 77.1%, compared to 83.7% at our
previous review. After considering transaction-level adjustments,
we affirmed our ratings on the class A, B, and C notes. Our model
output indicates that the class D and E notes could support higher
ratings than those currently assigned, based on credit enhancement.
However, because these notes do not benefit from any liquidity
coverage, we applied a one-notch downward adjustment to reflect the
greater structural risk of an interest shortfall relative to the
other tranches. Therefore, we affirmed our ratings on all classes
of notes.

"Our ratings in this transaction address the timely payment of
interest, payable quarterly in arrears, and the payment of
principal no later than the legal final maturity date in December
2029."


MALLINCKRODT: S&P Cuts ICR to 'SD' on Below-Par Debt Repurchases
----------------------------------------------------------------
S&P Global Ratings lowered its issuer credit rating on Mallinckrodt
PLC to 'SD' (selective default) from 'B-'. At the same time, S&P
lowered its issue-level rating on the affected 2029 secured notes
to 'D' from 'CCC'.

S&P's issue-level ratings on the other obligations are unchanged.
Over the next few business days, it expects to raise the issuer
credit rating to a rating in the 'CCC' category from 'SD', which
incorporates the increased risk of similar transactions occurring
in the future.

The downgrade follows Mallinckrodt's below-par debt purchases
completed between September and December 2022. Mallinckrodt
announced that it repurchased approximately $47.7 million of
secured notes for about $26.2 million of cash during that time.
S&P's view the repurchase of the secured notes as distressed
because noteholders received materially less value than originally
promised: between 53 and 64 cents on the dollar, depending on the
tranche, for an average of approximately 55 cents on the dollar.

S&P expects to raise its issuer credit rating on the company to a
rating in the 'CCC' category from 'SD' over the next few business
days. This rating will reflect heightened prospects for additional
distressed exchange transactions while debt continues to trade at a
sizable discount to par.

ESG credit indicators: E-2, S-4, G-3


SGS FINANCE: S&P Affirms 'CCCp (sf)' Rating on 1, 2 and 3 Notes
---------------------------------------------------------------
S&P Global Ratings affirmed its 'CCCp (sf)' principal-only credit
ratings on SGS Finance PLC's series 1, 2, and 3 notes.

S&P said, "The affirmations follow our review of the transaction
under our European commercial mortgage-backed securities (CMBS)
criteria. The affirmations on the series 1, 2 and 3 notes (which
rank pari passu) reflect that the notes did not pass our 'B-'
rating level stresses, because both our S&P Global Ratings value
and the most recently reported market value are lower than the
outstanding debt.

"Therefore, we applied our 'CCC' criteria to assess if either a
rating in the 'B-' or 'CCC' category would be appropriate.
According to our 'CCC' criteria, for structured finance issues,
expected collateral performance and the level of credit enhancement
are the primary factors in our assessment of the degree of
financial stress and likelihood of default. We performed a
qualitative assessment of the key variables, together with an
analysis of performance and market data. A 'CCC' category rating
remains appropriate for these notes as we still consider repayment
of the notes to be dependent upon favorable business, financial,
and economic conditions and that it faces at least a one-in-two
likelihood of default. We have therefore, affirmed our 'CCCp (sf)'
ratings on the notes.

"The market value of the properties as of December 2022 is GBP770.5
million. We have capped the S&P Global Ratings value at the market
value of the property portfolio. The S&P Global Ratings whole
loan-to-value (LTV) ratio is now 209% (including accrued interest)
as there is no amortization due on the notes and the interest on
the notes is being capitalized. This has increased the amount of
debt due and payable by legal final maturity.

"The terms and conditions of the notes do not require interest on
the notes to be paid in a timely manner. Therefore, the interest
payable is capitalized. The terms and conditions of the notes only
require that ultimate principal is paid at legal final maturity in
March 2028 (series 1), March 2033 (series 2), and September 2035
(series 3). Therefore, this transaction is rated on a
principal-only basis.

"Our analysis also included a full review of the legal and
regulatory risks, operational and administrative risks, and
counterparty risks. Our assessment of these risks remains unchanged
since our previous review and is commensurate with the assigned
ratings on the notes."

SGS Finance PLC is a debt platform with the flexibility to raise
various debt types secured on ring-fenced collateral. The notes are
secured by four shopping centers located throughout the U.K.:
Lakeside, Braehead, Watford, and Victoria Centre.


SHEFFIELD UNITED: Introduces Extraordinary Costs-Cutting Measures
-----------------------------------------------------------------
Matt Hughes and Sami Mokbel at The Daily Mail report that Sheffield
United have introduced a series of extraordinary cost-cutting
measures to avoid entering administration as soon as next week.

According to The Daily Mail, Sportsmail can reveal the full extent
of the financial crisis gripping the Championship club, who have
failed to pay suppliers and turned off the undersoil heating at the
training ground in a desperate attempt to ensure they can afford to
pay their players this month.

Under EFL rules any club entering administration before Thursday,
March 23, is automatically docked 12 points this season, which
would be a hammer blow to United's prospects of winning promotion
to the Premier League, The Daily Mail discloses.

Despite the club's acute financial problems Paul Heckingbottom's
side are well placed to return to the top-flight after two years in
the Championship as they are second in the table, six points ahead
of third-placed Middlesbrough with nine games of the season
remaining, The Daily Mail states.

United were placed under a transfer embargo in January after
failing to pay transfer fee instalments due to other clubs, with
millions of pounds understood to be owed to Liverpool and Malmo for
Rhian Brewster and Bosnian defender Anel Ahmedhodzic respectively,
The Daily Mail recounts.

The club have been desperately attempting to get through the season
without entering administration or being docked points for late
payment of players ever since, The Daily Mail notes.

United's cash crisis has worsened in recent weeks, which has led to
the club introducing some extraordinary cost-saving measures, The
Daily Mail relays.

United's plight is all the more extraordinary as they are still in
receipt of parachute payments after being relegated from the
Premier League two years ago, with the top-flight giving them
around GBP16 million this season, leading many around the club to
question where all the money has gone, The Daily Mail states.

Saudi Prince Abdullah bin Mosaad bin Abdulaziz al Saud completed an
unusual takeover from previous Kevin McCabe three years ago
following a bitter court battle which resulted in the local
property magnate receiving just GBP5 million for a 50% stake in the
club previously valued at GBP104 million, since which point
investment has dried up, according to The Daily Mail.

The most recent accounts published last summer showed United owed
GBP18.25 million in outstanding transfer fees, although their total
liabilities are understood to be far high as the club have been
back-loading transfer payments for several years, The Daily Mail
relates.


SNOWS BUSINESS: Goes Into Administration, Halts Operations
----------------------------------------------------------
Richard Stuart-Turner at Printweek reports that long-established
Southampton forms and custom stationery supplier Snows Business
Forms has gone into administration.

David Smithson and Michael Fortune of Leonard Curtis South Coast
were appointed as administrators to the business on March 14,
Printweek relays, citing filings at the High Court.

According to Printweek, a call to the business on March 17
confirmed this, going straight to a recorded message that said "as
of March 14, 2023, Snows Business Forms Ltd has entered into
administration", and directed further enquiries to Leonard Curtis.

A message now showing on the homepage of the company's website
confirmed it has ceased trading, Printweek discloses.

The business, which was established in 1983, offered printed
stationery, promotional and marketing materials, merchandise, and a
wide range of other products.  As of its most recently filed
accounts at Companies House, for the year ended December 31, 2020,
the business employed 37 staff.

The administrators said they should be able to provide more
information this week, Printweek notes.


TAURUS 2019-2: Fitch Affirms BBsf Rating on Class E Notes
---------------------------------------------------------
Fitch Ratings has affirmed Taurus 2019-2 UK DAC's notes, as
detailed below.

   Entity/Debt          Rating          Prior
   -----------          ------          -----
Taurus 2019-2
UK DAC

   Class A
   XS2049066371     LT AAAsf Affirmed   AAAsf

   Class B
   XS2049075877     LT AAsf  Affirmed    AAsf

   Class C
   XS2049076339     LT Asf   Affirmed     Asf

   Class D
   XS2049077147     LT BBBsf Affirmed   BBBsf

   Class E
   XS2049081925     LT BBsf  Affirmed    BBsf

The affected ratings have been removed from Under Criteria
Observation (UCO), where they were placed on 23 December 2022
following the publication of Fitch's EMEA CMBS and CRE Loan Rating
Criteria on 16 December 2022.

TRANSACTION SUMMARY

The transaction is the securitisation of 87.5% of a GBP418.1
million commercial real estate acquisition loan advanced to
entities related to Blackstone Real Estate Partners in connection
with the refinancing of the Project Sunflower portfolio of UK last
mile logistics properties. The loan was advanced by Bank of America
Merrill Lynch International Designated Activity Company and backed
by a portfolio of 126 multi-let light industrial/logistics assets
located throughout the UK.

KEY RATING DRIVERS

Updated EMEA CMBS Criteria: The criteria incorporated a number of
updates, including an overhaul of how guidance assumptions are
derived, and supporting lower cap rates, particularly in lower
rating stresses. The class B, C, D, and E notes have been removed
from UCO (the class A notes' rating was unaffected by the update).

Pro Rata Principal Pay: Proceeds from disposals are applied
pro-rata to the notes (prior to loan default). This limits any
de-risking for senior notes from disposal activities. Given this,
and the adverse selection risk introduces by release pricing
formula, its disposal analysis is a limiting factor for the
ratings. The release premium will increase to 15% from 10% once the
cumulative release price from disposed properties exceeds 35% of
the original loan balance, although disposals currently account for
only 4.9% of loan repayment.

Diverse Portfolio, Stable Operating Performance: The underlying 112
assets are located around the UK, and accommodate more than 900
tenants, with no single occupier accounting for more than 2% of
gross rental income. Gross passing rent increased slightly to
GBP39.4 million from GBP37.0 million since December 2021. Vacancy
is stable, at around 9% by area.

Headwinds for SMEs: A negative growth outlook for the British
economy, weighed down by weak business investment, represents a
threat for SME occupiers. Business insolvencies are rising while
households are reining in spending, which Fitch believes will slow
rental growth that has been supporting the sector and cushioning
the adverse impact of higher yields on valuations.

RATING SENSITIVITIES

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

Significant deterioration of operating conditions for industrial
occupiers, which place stress on future rent collections, may
result in downgrades.

The change in model output that would apply with 1pp higher cap
rate assumptions produces the following ratings:

'AAAsf' / 'AAsf' / 'A-sf' / 'BB+sf' / 'BB-sf'

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

Significant increases in rental collections, driven by future
occupational demand that is higher Fitch's expectations, may result
in upgrades.

The change in model output that would apply with 1pp lower cap rate
assumptions produces the following ratings:

'AAAsf' / 'AAsf' / 'A+sf' / 'Asf' / 'BBB+sf'

Key property assumptions (weighted by market value)

ERV net of irrecoverable cost: GBP 50.5million

'Bsf' weighted average (WA) cap rate: 5.12%

'Bsf' WA structural vacancy: 15.29%

'Bsf' WA rental value decline: 21.59%

'BBsf' WA cap rate: 5.89%

'BBsf' WA structural vacancy: 17.10%

'BBsf' WA rental value decline: 21.86%

'BBBsf' WA cap rate: 6.77%

'BBBsf' WA structural vacancy: 19.28%

'BBBsf' WA rental value decline: 22.17%

'Asf' WA cap rate: 7.8%

'Asf' WA structural vacancy: 21.32%

'Asf' WA rental value decline: 22.50%

'AAsf' WA cap rate: 8.17%

'AAsf' WA structural vacancy: 23.86%

'AAsf' WA rental value decline: 23.12%

'AAAsf' WA cap rate: 8.57%

'AAAsf' WA structural vacancy: 26.84%

'AAAsf' WA rental value decline: 24.00%

DATA ADEQUACY

Taurus 2019-2 UK 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.

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

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

Overall, 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.



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

[*] BOND PRICING: For the Week March 13 to March 17, 2023
---------------------------------------------------------
Issuer                Coupon  Maturity Currency Price
------                ------  -------- -------  -----
Gol Finance SA      7.000   1/31/2025   USD   45.794
Atento Luxco 1 SA   8.000   2/10/2026   USD   37.092
Gol Finance SA      8.000   6/30/2026   USD   44.089
Castellum AB        3.125               EUR   73.472
CECONOMY AG         1.750   6/24/2026   EUR   71.877
Vedanta Resources Lt6.125   8/9/2024    USD   68.133
Movida Europe SA    5.250   2/8/2031    USD   65.237
Mitsubishi UFJ Inves7.193   12/15/2050  EUR   48.056
Financiere Immobilie6.000   1/30/2025   EUR   9.637
Vedanta Resources Fi8.950   3/11/2025   USD   68.934
Simpar Europe SA    5.200   1/26/2031   USD   66.748
Cimpress PLC        7.000   6/15/2026   USD   74.663
Credit Suisse Group 7.250               USD   74.136
Coruripe Netherlands10.000  2/10/2027   USD   69.683
Kleopatra Holdings 26.500   9/1/2026    EUR   58.257
B2W Digital Lux Sarl4.375   12/20/2030  USD   18.000
Tullow Oil PLC      7.000   3/1/2025    USD   63.639
Orpea SA            2.625   3/10/2025   EUR   26.788
United Kingdom Gilt 0.625   7/31/2035   GBP   67.438
MARB BondCo PLC     3.950   1/29/2031   USD   71.360
Republic of Belarus 6.875   2/28/2023   USD   37.828
GOL Equity Finance S3.750   7/15/2024   USD   53.875
Credit Suisse Group 6.375               USD   72.200
Russian Railways Via2.100   10/2/2023   CHF   62.494
JSM Global Sarl     4.750   10/20/2030  USD   18.500
Credit Suisse Group 4.500               USD   58.490
Casino Guichard Perr3.992               EUR   17.290
Heimstaden AB       6.750               EUR   52.847
Accentro Real Estate5.625   2/13/2026   EUR   59.014
United Kingdom Gilt 0.875   7/31/2033   GBP   74.568
Casino Guichard Perr6.625   1/15/2026   EUR   57.225
Gazprom PJSC via Gaz3.897               EUR   52.376
Citycon Oyj         4.496               EUR   60.435
Vedanta Resources Fi9.250   4/23/2026   USD   66.928
Intesa Sanpaolo SpA 1.350   2/24/2031   EUR   73.838
Orpea SA            2.000   4/1/2028    EUR   26.973
Casino Guichard Perr3.637               EUR   15.925
Metalcorp Group SA  8.500   6/28/2026   EUR   28.346
Credit Suisse Group 5.250               USD   69.340
Credit Suisse Group 0.625   1/18/2033   EUR   57.071
AT Securities BV    5.250               USD   57.000
Teva Pharmaceutical 4.100   10/1/2046   USD   66.618
Air Baltic Corp AS  6.750   7/30/2024   EUR   72.329
Eurovita Assicurazio6.000   12/22/2025  EUR   69.715
Credit Suisse Group 5.100               USD   62.415
Trinseo Materials Op5.125   4/1/2029    USD   68.303
EnfraGen Energia Sur5.375   12/30/2030  USD   66.715
Casino Guichard Perr5.250   4/15/2027   EUR   55.026
Schoeller Packaging 6.375   11/1/2024   EUR   71.297
Heimstaden Bostad AB3.625               EUR   62.575
Aragvi Finance Inter8.450   4/29/2026   USD   72.330
Dignity Finance PLC 4.696   12/31/2049  GBP   62.615
ING Groep NV        4.250               USD   70.675
Romanian Government 4.625   4/3/2049    EUR   72.589
Italy Buoni Polienna2.150   3/1/2072    EUR   56.895
Gazprom PJSC Via Gaz2.949   1/24/2024   EUR   75.000
MHP SE              7.750   5/10/2024   USD   52.488
Korian SA           1.875               EUR   29.100
Castellum Helsinki F0.875   9/17/2029   EUR   70.542
ADLER Group SA      2.250   1/14/2029   EUR   40.389
Gazprom PJSC via Gaz2.950   1/27/2029   USD   64.250
Allianz SE          3.875               USD   69.563
Heimstaden AB       4.375   3/6/2027    EUR   71.882
Ubisoft Entertainmen0.878   11/24/2027  EUR   74.965
Air France-KLM      0.125   3/25/2026   EUR   16.946
Fnac Darty SA       0.250   3/23/2027   EUR   69.054
Romanian Government 4.125   3/11/2039   EUR   71.749
Gazprom PJSC via Gaz1.500   2/17/2027   EUR   66.827
Hidrovias Internatio4.950   2/8/2031    USD   70.306
Korian SA           2.250   10/15/2028  EUR   68.701
Heimstaden Bostad AB2.625               EUR   62.622
Korian SA           0.875   3/6/2027    EUR   42.916
Union Fenosa Prefere3.852               EUR   72.083
Ukraine Government I6.750   6/20/2028   EUR   16.173
Credit Suisse AG/Lon0.250   9/1/2028    EUR   73.442
Fastighets AB Balder1.250   1/28/2028   EUR   74.172
Carnival PLC        1.000   10/28/2029  EUR   49.398
Gazprom PJSC Via Gaz2.250   11/22/2024  EUR   75.527
CPI Property Group S4.875               EUR   48.139
Casino Guichard Perr4.048   8/5/2026    EUR   55.029
Gazprom PJSC Via Gaz4.364   3/21/2025   EUR   74.500
DIC Asset AG        2.250   9/22/2026   EUR   67.652
Orpea SA            0.375   5/17/2027   EUR   39.441
Eustream AS         1.625   6/25/2027   EUR   71.202
Aroundtown SA       2.125               EUR   38.994
Atos SE             1.000   11/12/2029  EUR   68.537
Credit Suisse Group 2.875   4/2/2032    EUR   72.293
La Banque Postale SA3.000               EUR   70.617
Gazprom PJSC via Gaz4.599               USD   60.000
Audax Renovables SA 4.200   12/18/2027  EUR   60.226
NatWest Group PLC   4.600               USD   73.125
Signa Development Fi5.500   7/23/2026   EUR   68.750
TenneT Holding BV   0.875   6/16/2035   EUR   73.100
Delivery Hero SE    2.125   3/10/2029   EUR   64.295
United Kingdom Gilt 1.500   7/31/2053   GBP   54.246
Mime Petroleum AS   10.250  11/10/2026  USD   66.902
Rothschild & Co Cont4.438               USD   65.155
Samhallsbyggnadsbola2.624               EUR   41.948
Casino Guichard Perr3.580   2/7/2025    EUR   64.541
Gazprom PJSC Via Gaz4.950   2/6/2028    USD   75.250
Gazprom PJSC Via Gaz4.250   4/6/2024    GBP   70.404
Russian Railways Via2.200   5/23/2027   EUR   55.697
ATF Netherlands BV  7.078               EUR   55.876
Banco Santander SA  3.625               EUR   70.455
Nobel Bidco BV      3.125   6/15/2028   EUR   69.890
Frigoglass Finance B6.875   2/12/2025   EUR   27.006
VTR Finance NV      6.375   7/15/2028   USD   42.891
Samhallsbyggnadsbola2.875               EUR   41.775
DEMIRE Deutsche Mitt1.875   10/15/2024  EUR   74.194
Balder Finland Oyj  1.000   1/20/2029   EUR   69.118
NAK Naftogaz Ukraine7.625   11/8/2026   USD   19.345
Mahle GmbH          2.375   5/14/2028   EUR   73.244
Haya Holdco 2 PLC   11.698  11/30/2025  EUR   38.681
Allianz SE          3.200               USD   74.860
HSE Finance Sarl    5.625   10/15/2026  EUR   51.333
Petrobras Global Fin5.500   6/10/2051   USD   74.613
CTP NV              1.500   9/27/2031   EUR   69.109
Russian Railways Via0.898   10/3/2025   CHF   50.138
Accor SA            0.700   12/7/2027   EUR   44.851
Heimstaden AB       8.718               SEK   71.093
Gazprom PJSC via Gaz3.250   2/25/2030   USD   72.000
Grand City Propertie1.500               EUR   47.533
Kenbourne Invest SA 4.700   1/22/2028   USD   67.560
Raiffeisen Bank Inte4.500               EUR   70.758
Vodafone Group PLC  5.125   6/4/2081    USD   75.630
ams-OSRAM AG        2.125   11/3/2027   EUR   71.415
Aroundtown SA       1.625               EUR   37.890
AI Candelaria Spain 5.750   6/15/2033   USD   70.714
Ukreximbank Via Biz 9.750   1/22/2025   USD   39.075
Heimstaden Bostad Tr0.750   9/6/2029    EUR   69.344
Altice France Holdin6.000   2/15/2028   USD   69.855
La Financiere Atalia5.125   5/15/2025   EUR   68.083
Foodco Bondco SA    6.250   5/15/2026   EUR   40.026
MHP Lux SA          6.950   4/3/2026    USD   49.496
Grupo Antolin-Irausa3.500   4/30/2028   EUR   73.833
Liquid Telecommunica5.500   9/4/2026    USD   69.699
Samhallsbyggnadsbola1.000   8/12/2027   EUR   70.488
Gazprom PJSC via Gaz3.000   6/29/2027   USD   69.603
Romanian Government 1.750   7/13/2030   EUR   71.780
BAT International Fi2.250   9/9/2052    GBP   38.342
Credit Bank of Mosco3.100   1/21/2026   EUR   24.228
VIC Properties SA   3.000   5/28/2025   EUR   60.000
Allianz SE          2.625               EUR   70.205
Hacienda Investments5.075   2/15/2023   USD   49.161
Balder Finland Oyj  2.000   1/18/2031   EUR   67.782
Laboratoire Eimer Se5.000   2/1/2029    EUR   72.457
Ukraine Railways Via8.250   7/9/2026    USD   20.375
Intermediate Capital2.500   1/28/2030   EUR   70.237
Republic of Italy Go3.875   5/6/2051    USD   69.580
Gol Finance SA      8.000   6/30/2026   USD   43.924
Citycon Oyj         3.625               EUR   52.796
Delivery Hero SE    1.500   1/15/2028   EUR   67.023
Rothschild & Co Cont3.110               EUR   68.783
Aroundtown SA       0.375   4/15/2027   EUR   72.752
Aegon NV            0.496               NLG   67.472
Metro Bank PLC      5.500   6/26/2028   GBP   69.501
VEON Holdings BV    3.375   11/25/2027  USD   72.250
Gol Finance SA      7.000   1/31/2025   USD   45.645
Tinkoff Bank JSC Via6.000               USD   41.669
Romanian Government 2.000   1/28/2032   EUR   68.911
CPI Property Group S1.500   1/27/2031   EUR   58.339
United Kingdom Gilt 0.875   1/31/2046   GBP   51.020
Hungary Government I3.125   9/21/2051   USD   59.865
Arrival SA          3.500   12/1/2026   USD   31.875
SBB Treasury Oyj    0.750   12/14/2028  EUR   61.675
NE Property BV      2.000   1/20/2030   EUR   71.897
Atento Luxco 1 SA   8.000   2/10/2026   USD   37.108
Croatia Government I1.750   3/4/2041    EUR   66.946
State of North Rhine1.750   7/11/2068   EUR   61.930
EDP - Energias de Po1.875   3/14/2082   EUR   73.786
Idorsia Ltd         2.125   8/4/2028    CHF   69.812
Ideal Standard Inter6.375   7/30/2026   EUR   55.650
Direct Line Insuranc4.750               GBP   74.620
Ukraine Government I7.750   9/1/2024    USD   22.756
Serbia International2.050   9/23/2036   EUR   58.582
GOL Equity Finance S3.750   7/15/2024   USD   53.750
Allianz SE          2.600               EUR   67.031
Vonovia SE          1.625   9/1/2051    EUR   47.422
Constellation Automo4.875   7/15/2027   GBP   72.166
Novolipetsk Steel Vi1.450   6/2/2026    EUR   68.525
Romanian Government 2.625   12/2/2040   EUR   56.115
Abengoa Abenewco 2 S1.500   10/26/2024  EUR   0.084
Nostrum Oil & Gas Fi7.000   2/16/2025   USD   25.219
Aroundtown SA       1.450   7/9/2028    EUR   68.237
Hungary Government I1.750   6/5/2035    EUR   67.230
State of North Rhine1.950   9/26/2078   EUR   65.253
Cellnex Finance Co S2.000   2/15/2033   EUR   75.158
Endo Luxembourg Fina6.125   4/1/2029    USD   76.250
Compact Bidco BV    5.750   5/1/2026    EUR   74.766
Italy Buoni Polienna1.800   3/1/2041    EUR   66.078
Standard Profil Auto6.250   4/30/2026   EUR   61.462
Russian Railways Via0.840   3/12/2026   CHF   49.941
Nexity SA           0.250   3/2/2025    EUR   58.822
Heimstaden Bostad AB3.375               EUR   64.164
Ukraine Government I7.750   9/1/2027    USD   17.700
EP Infrastructure AS1.816   3/2/2031    EUR   64.190
Canary Wharf Group I3.375   4/23/2028   GBP   74.134
Romanian Government 2.124   7/16/2031   EUR   71.044
Hellenic Republic Go1.875   1/24/2052   EUR   57.630
CaixaBank SA        3.625               EUR   72.132
Aroundtown SA       4.750               GBP   50.998
Aroundtown SA       2.875               EUR   46.016
Enel SpA            1.875               EUR   71.314
Raiffeisen Bank Inte1.375   6/17/2033   EUR   72.713
Heimstaden Bostad Tr1.625   10/13/2031  EUR   67.830
Rothesay Life PLC   5.000               GBP   70.607
Kernel Holding SA   6.500   10/17/2024  USD   48.706
Samhallsbyggnadsbola2.625               EUR   41.569
Wirecard AG         0.500   9/11/2024   EUR   14.189
Serbia International1.500   6/26/2029   EUR   74.405
Ageas SA/NV         3.875               EUR   74.169
Nykredit Realkredit 1.000   10/1/2050   DKK   71.392
Atrium Finance PLC  2.625   9/5/2027    EUR   73.865
Intesa Sanpaolo SpA 4.198   6/1/2032    USD   75.197
Mithra Pharmaceutica4.250   12/17/2025  EUR   60.612
Romanian Government 2.000   4/14/2033   EUR   66.128
CPI Property Group S1.750   1/14/2030   EUR   63.958
BPCE SA             2.125   10/13/2046  EUR   70.970
Slovakia Government 0.375   4/21/2036   EUR   63.325
Nostrum Oil & Gas Fi8.000   7/25/2022   USD   25.958
Rallye SA           4.000   2/28/2032   EUR   3.616
Shell International 3.000   11/26/2051  USD   69.660
Credit Suisse Group 0.650   9/10/2029   EUR   66.793
Credit Suisse Group 4.875   5/15/2045   USD   81.270
Tinkoff Bank JSC Via11.002              USD   38.000
Ukraine Government I4.375   1/27/2032   EUR   16.573
NGD Holdings BV     6.750   12/31/2026  USD   59.621
Pro-Gest SpA        3.250   12/15/2024  EUR   74.525
Moby SpA            7.750   2/15/2023   EUR   58.583
Credit Suisse Group 7.250               USD   73.750
Mallinckrodt Interna10.000  6/15/2029   USD   62.206
Herens Midco Sarl   5.250   5/15/2029   EUR   69.000
Voltalia SA         1.000   1/13/2025   EUR   28.792
ADLER Group SA      1.500   7/26/2024   EUR   69.980
TotalEnergies SE    2.125               EUR   72.023
Holcim Finance Luxem0.500   4/23/2031   EUR   72.380
Russian Railways Via3.125               CHF   12.000
Prosus NV           4.987   1/19/2052   USD   71.519
NAK Naftogaz Ukraine7.125   7/19/2024   EUR   20.079
Hacienda Investments5.350   2/8/2028    USD   49.980
Gazprom PJSC via Gaz2.950   4/15/2025   EUR   72.132
Aroundtown SA       3.375               EUR   53.944
Ukraine Government I9.750   11/1/2030   USD   18.523
CPI Property Group S4.875               EUR   49.495
Credit Suisse Group 3.091   5/14/2032   USD   70.471
Deutsche Bank AG    1.375   2/17/2032   EUR   73.967
Gazprom PJSC via Gaz1.540   6/30/2027   CHF   62.508
Turkey Government In6.000   1/14/2041   USD   71.738
Enel Finance Interna0.875   6/17/2036   EUR   62.381
Prologis Internation0.750   3/23/2033   EUR   67.008
Bulgaria Government 0.375   9/23/2030   EUR   73.692
VF Ukraine PAT via V6.200   2/11/2025   USD   58.509
MorphoSys AG        0.625   10/16/2025  EUR   57.805
Fresenius Finance Ir0.875   10/1/2031   EUR   71.516
DDM Debt AB         9.000   4/19/2026   EUR   61.934
Russian Foreign Bond7.500   3/31/2030   USD   65.210
Serbia International2.125   12/1/2030   USD   73.519
Republic of Italy Go4.000   10/17/2049  USD   73.077
Fresenius SE & Co KG1.125   1/28/2033   EUR   70.353
Intesa Sanpaolo SpA 4.950   6/1/2042    USD   68.190
Siemens Financiering1.750   2/28/2039   EUR   74.960
UniCredit SpA       0.850   1/19/2031   EUR   73.374
Solocal Group       9.046   3/15/2025   EUR   67.850
Slovenia Government 0.688   3/3/2081    EUR   37.365
JAB Holdings BV     4.500   4/8/2052    USD   73.686
Lukoil Securities BV3.875   5/6/2030    USD   68.750
TotalEnergies SE    3.250               EUR   73.940
VGP NV              2.250   1/17/2030   EUR   70.657
gategroup Finance Lu3.000   2/28/2027   CHF   66.866
CCC SA              11.670  6/29/2026   PLN   75.785
Kingdom of Belgium G2.250   6/22/2057   EUR   74.733
Hungary Government B3.000   10/27/2038  HUF   53.747
Prosus NV           2.031   8/3/2032    EUR   70.888
Berkeley Group PLC/T2.500   8/11/2031   GBP   70.399
Czech Republic Gover1.500   4/24/2040   CZK   58.909
Rallye SA           4.371   2/28/2032   EUR   3.665
Republic of Austria 1.500   2/20/2047   EUR   70.250
Russian Foreign Bond5.625   4/4/2042    USD   63.504
EP Infrastructure AS2.045   10/9/2028   EUR   73.438
Romania Government B4.250   4/28/2036   RON   70.478
Orsted AS           1.500   2/18/3021   EUR   73.271
Prosus NV           3.832   2/8/2051    USD   60.456
PB International BV 7.625   12/31/2025  USD   40.000
Swan Housing Capital3.625   3/5/2048    GBP   74.357
Vonovia SE          0.750   9/1/2032    EUR   66.496
Eurofins Scientific 0.875   5/19/2031   EUR   73.196
Enel Finance Interna0.875   9/28/2034   EUR   66.010
R-Logitech Finance S10.250  9/26/2027   EUR   57.000
Kojamo Oyj          0.875   5/28/2029   EUR   74.440
Hungary Government B2.250   4/20/2033   HUF   58.046
Dtek Renewables Fina8.500   11/12/2024  EUR   39.954
Intesa Sanpaolo SpA 4.125               EUR   74.546
Republic of Belarus 7.625   6/29/2027   USD   41.417
Novo Banco SA/Luxemb3.500   1/23/2043   EUR   73.631
Aroundtown SA       1.625   1/31/2028   EUR   71.985
Serbia International1.650   3/3/2033    EUR   64.094
Development Bank of 6.750   5/2/2024    USD   39.500
Abengoa Abenewco 2 S1.500   10/26/2024  EUR   1.532
UNIQA Insurance Grou2.375   12/9/2041   EUR   70.784
Gazprom PJSC via Gaz3.500   7/14/2031   USD   65.000
Slovakia Government 1.000   10/13/2051  EUR   48.272
Ukraine Government B15.840  2/26/2025   UAH   68.986
Ukraine Government I6.876   5/21/2031   USD   16.785
STERIS Irish FinCo U3.750   3/15/2051   USD   72.367
Royalty Pharma PLC  3.550   9/2/2050    USD   65.540
Bank Gospodarstwa Kr0.500   7/8/2031    EUR   69.655
Credit Bank of Mosco5.550   2/14/2023   USD   21.958
SPP-Distribucia AS  1.000   6/9/2031    EUR   64.563
NIBC Bank NV        1.315               EUR   73.769
Gazprom PJSC via Gaz1.850   11/17/2028  EUR   59.690
TenneT Holding BV   1.500   6/3/2039    EUR   73.008
University of Oxford2.544   12/8/2117   GBP   51.640
Simon International 1.125   3/19/2033   EUR   69.530
TenneT Holding BV   0.500   11/30/2040  EUR   59.441
Telia Co AB         0.125   11/27/2030  EUR   74.800
Sweden Government Bo0.500   11/24/2045  SEK   62.625
SBB Treasury Oyj    1.125   11/26/2029  EUR   60.551
Republic of Belarus 6.378   2/24/2031   USD   32.812
WM Morrison Supermar4.750   7/4/2029    GBP   62.631
ADLER Group SA      3.250   8/5/2025    EUR   44.500
Ukraine Railways Via7.875   7/15/2028   USD   19.246
Credit Bank of Mosco7.500   10/5/2027   USD   20.563
TenneT Holding BV   1.125   6/9/2041    EUR   66.102
ADLER Group SA      2.750   11/13/2026  EUR   43.193
Ukraine Government I7.750   9/1/2026    USD   18.000
Yorkshire Water Fina1.750   10/27/2032  GBP   72.866
Flamingo Lux II SCA 5.000   3/31/2029   EUR   73.260
Romanian Government 3.375   2/8/2038    EUR   67.894
Romanian Government 1.375   12/2/2029   EUR   73.526
Republic of Belarus 5.875   2/24/2026   USD   42.975
Credit Bank of Mosco5.150   2/20/2024   EUR   27.993
Orpea SA            2.200   12/15/2024  EUR   26.423
Aggregate Holdings S6.875   11/9/2025   EUR   35.937
Evraz PLC           5.375   3/20/2023   USD   49.442
ADLER Group SA      1.875   1/14/2026   EUR   42.417
Czech Republic Gover1.200   3/13/2031   CZK   73.782
Credit Bank of Mosco3.875   9/21/2026   USD   30.480
Republic of Poland G4.000   4/25/2047   PLN   67.674
MRG Finance UK PLC  8.750   10/26/2023  EUR   45.489
Cellnex Finance Co S3.875   7/7/2041    USD   72.241
Vodafone Group PLC  3.000   8/12/2056   GBP   56.269
Phosagro OAO Via Pho2.600   9/16/2028   USD   61.682
Phosagro OAO Via Pho3.050   1/23/2025   USD   76.500
Diebold Nixdorf Dutc9.000   7/15/2025   EUR   67.000
Ocado Group PLC     0.750   1/18/2027   GBP   67.434
MHP Lux SA          6.250   9/19/2029   USD   47.745
Glencore Capital Fin1.250   3/1/2033    EUR   69.531
Bellis Finco PLC    4.000   2/16/2027   GBP   70.715
Russian Railways Via7.487   3/25/2031   GBP   55.006
Aedifica SA         0.750   9/9/2031    EUR   66.503
Russian Foreign Bond5.250   6/23/2047   USD   40.900
Koninklijke Luchtvaa0.750               CHF   21.100
TenneT Holding BV   0.125   11/30/2032  EUR   71.003
Digital Intrepid Hol1.375   7/18/2032   EUR   71.914
Electricite de Franc4.500   12/4/2069   USD   71.705
Verbund AG          0.900   4/1/2041    EUR   63.970
Shell International 3.250   4/6/2050    USD   73.497
Corestate Capital Ho3.500   4/15/2023   EUR   15.979
Sagax Euro Mtn NL BV1.000   5/17/2029   EUR   73.370
Econocom Group SA/NV0.500   3/6/2023    EUR   8.026
Royalty Pharma PLC  3.350   9/2/2051    USD   62.454
VGP NV              1.500   4/8/2029    EUR   70.342
Metinvest BV        8.500   4/23/2026   USD   54.750
Stellantis NV       1.250   6/20/2033   EUR   71.295
Imperial Brands Fina1.750   3/18/2033   EUR   69.834
Corestate Capital Ho1.375   11/28/2022  EUR   10.160
Russian Agricultural8.500   10/16/2023  USD   13.160
Desenio Group AB    8.034   12/16/2024  SEK   49.807
Sberbank of Russia V5.125   10/29/2022  USD   32.667
SCF Capital Designat5.375   6/16/2023   USD   20.278
Citycon Treasury BV 1.625   3/12/2028   EUR   74.579
United Kingdom Gilt 1.750   7/22/2057   GBP   57.205
Russian Railways Via4.375   3/1/2024    USD   55.740
Metinvest BV        5.625   6/17/2025   EUR   56.001
VTB Bank OJSC Via VT6.950   10/17/2022  USD   7.564
Prosus NV           2.778   1/19/2034   EUR   72.239
Amprion GmbH        0.625   9/23/2033   EUR   70.103
NAK Naftogaz Ukraine7.375   7/19/2022   USD   22.722
Hungary Government B3.250   10/22/2031  HUF   68.019
Muenchener Rueckvers1.000   5/26/2042   EUR   70.593
Mutuelle Assurance D2.125   6/21/2052   EUR   68.885
JT International Fin3.300   9/14/2051   USD   59.963
Altice France Holdin4.000   2/15/2028   EUR   68.250
Borets Finance DAC  6.000   9/17/2026   USD   42.913
HSE Finance Sarl    8.404   10/15/2026  EUR   53.889
Spain Government Bon1.000   7/30/2042   EUR   60.244
Metinvest BV        7.750   10/17/2029  USD   50.500
Proximus SADP       0.750   11/17/2036  EUR   65.497
Hellenic Bank PCL   10.000              EUR   71.184
Orange SA           0.500   9/4/2032    EUR   72.569
CPI Property Group S5.800               SGD   46.493
Hungary Government I0.500   11/18/2030  EUR   69.982
Bank Gospodarstwa Kr2.375   11/27/2040  PLN   50.684
Hungary Government B2.000   5/23/2029   HUF   67.921
CPI Property Group S3.750               EUR   43.952
ASTM SpA            2.375   11/25/2033  EUR   74.549
Mercedes-Benz Group 0.750   3/11/2033   EUR   73.739
Vnesheconombank Via 6.800   11/22/2025  USD   5.564
Grand City Propertie0.125   1/11/2028   EUR   74.560
ALROSA Finance SA   4.650   4/9/2024    USD   11.457
Nykredit Realkredit 1.500   10/1/2053   DKK   74.892
HOCHTIEF AG         1.250   9/3/2031    EUR   72.243
Heimstaden Bostad AB3.000               EUR   63.932
BP Capital Markets B1.467   9/21/2041   EUR   61.224
Akelius Residential 0.750   2/22/2030   EUR   71.633
CPI Property Group S2.750   1/22/2028   GBP   71.114
EnBW International F0.250   10/19/2030  EUR   74.924
Czech Republic Gover0.050   11/29/2029  CZK   70.737
United Kingdom Gilt 1.625   10/22/2054  GBP   55.799
Balder Finland Oyj  1.375   5/24/2030   EUR   66.626
Prosus NV           1.985   7/13/2033   EUR   68.232
Banque Federative du1.125   11/19/2031  EUR   71.542
Russian Foreign Bond4.250   6/23/2027   USD   41.854
DH Europe Finance II1.350   9/18/2039   EUR   65.788
Market Parent Finco 6.750   10/1/2029   GBP   61.139
NIBC Bank NV        2.850   2/21/2040   EUR   71.500
E.ON SE             0.600   10/1/2032   EUR   73.029
MMC Norilsk Nickel O2.550   9/11/2025   USD   73.514
Grand City Propertie2.500               EUR   57.595
Imerys SA           1.000   7/15/2031   EUR   70.966
Siemens Financiering0.500   9/5/2034    EUR   70.565
Becton Dickinson Eur1.336   8/13/2041   EUR   59.599
RWE AG              1.000   11/26/2033  EUR   71.016
CM.com NV           2.000   9/9/2026    EUR   64.194
Nykredit Realkredit 1.000   10/1/2053   DKK   70.567
Sanctuary Capital PL2.375   4/14/2050   GBP   57.393
Societe Generale SA 3.625   3/1/2041    USD   66.841
Blackstone Property 1.000   5/4/2028    EUR   72.854
State of North Rhine1.450   1/19/2122   EUR   46.950
VTB Bank PJSC Via VT9.500               USD   16.795
CTP NV              1.250   6/21/2029   EUR   73.556
Logicor Financing Sa2.000   1/17/2034   EUR   65.628
Barclays PLC        3.811   3/10/2042   USD   72.210
ICADE               0.625   1/18/2031   EUR   73.103
Russian Railways Via1.195   4/3/2028    CHF   46.707
BPCE SA             1.000   1/14/2032   EUR   74.860
Sberbank of Russia V5.250   5/23/2023   USD   32.842
Sibur Securities DAC4.125   10/5/2023   USD   62.597
Euronext NV         1.500   5/17/2041   EUR   64.054
Orpea SA            2.750   6/3/2033    EUR   26.937
Russian Foreign Bond4.750   5/27/2026   USD   43.608
Hungary Government B4.500   5/27/2032   HUF   73.647
Just Eat Takeaway.co0.625   2/9/2028    EUR   66.741
Orsted AS           2.500   2/18/3021   GBP   68.466
Kernel Holding SA   6.750   10/27/2027  USD   40.548
Credit Agricole Assu1.500   10/6/2031   EUR   74.490
Hungary Government B1.500   8/26/2026   HUF   74.562
Shell International 0.875   11/8/2039   EUR   59.051
TotalEnergies Capita3.127   5/29/2050   USD   72.454
UBS Group AG        3.179   2/11/2043   USD   72.068
Societe Generale SA 4.027   1/21/2043   USD   69.147
Ireland Government B1.500   5/15/2050   EUR   65.517
United Kingdom Gilt 2.500   7/22/2065   GBP   69.682
Nexity SA           0.875   4/19/2028   EUR   43.092
Thermo Fisher Scient1.625   10/18/2041  EUR   66.138
Thermo Fisher Scient1.125   10/18/2033  EUR   74.172
Odea Bank AS        8.606   8/1/2027    USD   74.250
AerCap Ireland Capit3.850   10/29/2041  USD   74.220
Bank Gospodarstwa Kr2.250   7/21/2033   PLN   65.398
Maisons du Monde SA 0.125   12/6/2023   EUR   46.572
Linde Finance BV    0.550   5/19/2032   EUR   74.229
Thermo Fisher Scient2.000   10/18/2051  EUR   61.176
Essity AB           0.250   2/8/2031    EUR   73.362
Saderea DAC         12.500  11/30/2026  USD   44.749
Engie SA            1.875               EUR   74.302
Yorkshire Water Fina2.750   4/18/2041   GBP   68.582
Credit Suisse Group 3.091   5/14/2032   USD   70.314
NPC Ukrenergo       6.875   11/9/2028   USD   17.090
Saxa Gres Spa       7.000   8/4/2026    EUR   45.979
John Lewis PLC      4.250   12/18/2034  GBP   62.457
Oscar Properties Hol9.999   7/5/2024    SEK   51.437
Mitsubishi UFJ Inves6.538   12/30/2099  EUR   4.750
Novo Banco SA/Luxemb3.500   1/2/2043    EUR   73.332
Neoen SA            2.000   6/2/2025    EUR   44.589
Polyus Finance PLC  3.250   10/14/2028  USD   60.684
ALROSA Finance SA   3.100   6/25/2027   USD   7.994
Severstal OAO Via St3.150   9/16/2024   USD   4.564
NET4GAS sro         3.500   7/28/2026   EUR   67.500
Smurfit Kappa Treasu1.000   9/22/2033   EUR   71.578
BAT International Fi4.000   11/23/2055  GBP   55.336
SCF Capital Designat3.850   4/26/2028   USD   20.461
Republic of Austria 0.250   10/20/2036  EUR   66.249
Norddeutsche Landesb8.916               EUR   73.430
Novolipetsk Steel Vi4.700   5/30/2026   USD   70.521
AstraZeneca PLC     3.000   5/28/2051   USD   71.693
Quant AB            8.654   11/15/2025  EUR   69.110
Credit Suisse Group 5.250               USD   69.000
Acef Holding SCA    1.250   4/26/2030   EUR   72.472
3i Group PLC        3.750   6/5/2040    GBP   74.389
Barclays PLC        3.330   11/24/2042  USD   71.070
EnBW Energie Baden-W2.125   8/31/2081   EUR   69.869
LEG Immobilien SE   0.875   3/30/2033   EUR   66.894
HOCHDORF Holding AG 2.500               CHF   34.133
Metalloinvest Financ3.375   10/22/2028  USD   54.345
Republic of Belarus 6.200   2/28/2030   USD   31.977
FIGEAC-AERO         1.750   10/18/2028  EUR   22.420
Rickmers Holding AG 8.875   6/11/2018   EUR   1.614
BICO Group AB       2.875   3/19/2026   SEK   70.470
LSEGA Financing PLC 3.200   4/6/2041    USD   74.890
Nykredit Realkredit 1.000   10/1/2053   DKK   65.808
Lukoil Capital DAC  3.600   10/26/2031  USD   68.750
BMW Finance NV      0.200   1/11/2033   EUR   71.355
Evraz PLC           5.250   4/2/2024    USD   52.987
Barclays PLC        1.106   5/12/2032   EUR   73.805
Sibur Securities DAC2.950   7/8/2025    USD   68.370
Alfa Bank AO Via Alf5.950   4/15/2030   USD   3.030
BASF SE             1.625   11/15/2037  EUR   70.828
United Utilities Wat1.750   2/10/2038   GBP   64.682
Credit Agricole SA  0.875   1/14/2032   EUR   74.522
Bank Gospodarstwa Kr2.125   6/5/2030    PLN   71.864
Nestle Finance Inter0.375   5/12/2032   EUR   74.707
Czech Republic Gover1.950   7/30/2037   CZK   68.432
Investor AB         1.500   6/20/2039   EUR   69.491
La Banque Postale SA0.750   6/23/2031   EUR   74.288
Vienna Insurance Gro1.000   3/26/2036   EUR   65.791
Grand City Propertie6.332               EUR   67.004
Wendel SE           1.000   6/1/2031    EUR   74.679
BUPA Finance PLC    4.000               GBP   69.149
Czech Gas Networks I0.450   9/8/2029    EUR   74.037
Orpea SA            2.130   7/3/2024    EUR   27.002
Electricite de Franc2.000   12/9/2049   EUR   57.743
Aroundtown SA       3.000   10/16/2029  GBP   69.314
Novo Banco SA/Luxemb3.500   2/19/2043   EUR   73.082
Lithuania Government0.500   7/28/2050   EUR   43.653
Sovcombank Via SovCo7.600               USD   2.350
Hyde Housing Associa1.750   8/18/2055   GBP   46.879
Coruripe Netherlands10.000  2/10/2027   USD   70.049
Slovenia Government 1.750   11/3/2040   EUR   70.425
ADLER Group SA      2.250   4/27/2027   EUR   41.750
Just Group PLC      5.000               GBP   71.010
BNG Bank NV         0.125   4/19/2033   EUR   72.311
Vonovia SE          1.000   6/16/2033   EUR   65.529
La Financiere Atalia6.625   5/15/2025   GBP   66.567
Credit Bank of Mosco7.625               USD   19.503
Logicor Financing Sa0.875   1/14/2031   EUR   66.154
Metinvest BV        7.650   10/1/2027   USD   53.230
adidas AG           0.625   9/10/2035   EUR   68.911
Gecina SA           0.875   1/25/2033   EUR   74.419
Karlou BV           7.750   6/18/2024   USD   11.483
State Agency of Road6.250   6/24/2030   USD   17.675
Romanian Government 3.500   4/3/2034    EUR   74.238
Russian Foreign Bond2.875   12/4/2025   EUR   39.464
Vonovia Finance BV  1.125   9/14/2034   EUR   63.850
Nykredit Realkredit 1.500   10/1/2053   DKK   70.417
Russian Foreign Bond5.875   9/16/2043   USD   60.762
Credit Bank of Mosco4.700   1/29/2025   USD   25.835
Blackstone Property 1.625   4/20/2030   EUR   68.526
Zurich Finance Irela1.625   6/17/2039   EUR   70.789
Russian Foreign Bond2.650   5/27/2036   EUR   37.314
National Grid PLC   0.750   9/1/2033    EUR   68.701
Unibail-Rodamco-West0.875   3/29/2032   EUR   70.683
Holcim Finance Luxem0.625   1/19/2033   EUR   68.328
Offentliga Hus I Nor9.655               SEK   66.271
Vnesheconombank Via 5.942   11/21/2023  USD   7.745
Ukraine Government B12.520  5/13/2026   UAH   55.499
Altarea SCA         1.750   1/16/2030   EUR   72.274
Cardea Europe AG    7.250   12/8/2023   EUR   26.000
MARB BondCo PLC     3.950   1/29/2031   USD   71.226
MMC Norilsk Nickel O2.800   10/27/2026  USD   71.000
Airbus SE           2.375   6/9/2040    EUR   74.890
United Utilities Wat1.875   6/3/2042    GBP   59.282
Cofinimmo SA        0.875   12/2/2030   EUR   72.687
Russian Foreign Bond4.375   3/21/2029   USD   41.485
BP Capital Markets P1.104   11/15/2034  EUR   70.173
Republic of Poland G2.000   10/25/2046  EUR   67.736
Vonovia SE          1.500   6/14/2041   EUR   55.190
Prosus NV           4.027   8/3/2050    USD   62.909
BNP Paribas SA      0.625   12/3/2032   EUR   69.649
Pershing Square Hold3.250   10/1/2031   USD   75.135
Realkredit Danmark A1.000   10/1/2050   DKK   71.396
Tullow Oil PLC      7.000   3/1/2025    USD   63.785
Slovenia Government 1.175   2/13/2062   EUR   49.400
Sibur Securities DAC3.450   9/23/2024   USD   62.081
Eurochem Finance DAC5.500   3/13/2024   USD   58.469
PIK Securities DAC  5.625   11/19/2026  USD   41.750
SKF AB              0.250   2/15/2031   EUR   73.070
Mobile Telesystems O5.000   5/30/2023   USD   27.699
Derwent London PLC  1.875   11/17/2031  GBP   71.570
Allianz SE          3.200               USD   74.625
alstria office REIT-1.500   11/15/2027  EUR   72.007
Stichting Afwikkelin11.250              EUR   45.963
CBRE Global Investor0.900   10/12/2029  EUR   71.678
A2A SpA             0.625   7/15/2031   EUR   73.319
Digital Intrepid Hol0.625   7/15/2031   EUR   69.824
Pershing Square Hold3.250   10/1/2031   USD   74.763
EWE AG              0.375   10/22/2032  EUR   68.997
Vodafone Group PLC  3.375   8/8/2049    GBP   64.611
Enel Finance Interna1.250   1/17/2035   EUR   68.616
Unibail-Rodamco-West1.375   5/25/2033   EUR   73.291
Officine Maccaferri-5.750   6/1/2021    EUR   17.000
Ilija Batljan Invest9.264               SEK   47.619
Terna - Rete Elettri0.750   7/24/2032   EUR   74.750
Senvion Holding GmbH3.875   10/25/2022  EUR   0.192
TotalEnergies Capita3.386   6/29/2060   USD   71.610
Koninklijke KPN NV  0.875   12/14/2032  EUR   73.433
EQT AB              0.875   5/14/2031   EUR   69.961
B2W Digital Lux Sarl4.375   12/20/2030  USD   18.000
Bulgaria Government 0.100   8/17/2031   BGN   67.353
Home Credit & Financ8.800               USD   5.340
Abengoa Abenewco 2 B1.500   4/26/2024   EUR   0.498
BNP Paribas SA      2.824   1/26/2041   USD   65.150
SAS AB              6.900               SEK   7.000
OMV AG              1.000   7/3/2034    EUR   70.875
Russian Foreign Bond1.125   11/20/2027  EUR   37.344
Adif Alta Velocidad 0.550   10/31/2031  EUR   74.855
Unibail-Rodamco-West1.750   7/1/2049    EUR   60.470
WPP Finance 2013    2.875   9/14/2046   GBP   58.629
Ekosem-Agrar AG     2.500   7/31/2029   EUR   20.293
Novolipetsk Steel Vi4.000   9/21/2024   USD   65.445
Red Electrica Financ0.500   5/24/2033   EUR   74.046
Deutsche Bahn Financ0.625   12/8/2050   EUR   48.051
Erste Group Bank AG 0.250   1/27/2031   EUR   74.232
Ukreximbank Via Biz 9.950   11/14/2029  USD   31.090
Credit Suisse Group 2.125   11/15/2029  GBP   73.184
Credit Bank of Mosco8.875               USD   19.698
Ziton A/S           11.032  10/3/2024   EUR   59.331
JSM Global Sarl     4.750   10/20/2030  USD   15.625
Enel Finance Interna2.250   7/12/2031   USD   75.021
Chancellor Masters &0.250   6/27/2068   GBP   57.253
Engie SA            1.000   10/26/2036  EUR   66.168
LEG Immobilien SE   1.500   1/17/2034   EUR   69.252
Republic of Poland G2.000   3/8/2049    EUR   66.437
UNEDIC ASSEO        0.010   11/25/2031  EUR   74.954
UNEDIC ASSEO        0.500   5/25/2036   EUR   67.349
Societe Generale SA 3.625   3/1/2041    USD   67.601
Vnesheconombank Via 6.025   7/5/2022    USD   6.219
Action Logement Serv0.750   7/19/2041   EUR   58.569
Diebold Nixdorf Dutc9.000   7/15/2025   EUR   67.000
ABN AMRO Bank NV    1.125   4/23/2039   EUR   70.778
UBS Group AG        0.875   11/3/2031   EUR   74.596
BAT International Fi2.000   3/13/2045   EUR   52.533
Diageo Finance PLC  2.750   6/8/2038    GBP   74.596
Electricite de Franc1.000   11/29/2033  EUR   69.758
National Gas Transmi1.625   1/14/2043   GBP   50.819
Bayer AG            0.625   7/12/2031   EUR   74.322
Novo Banco SA/Luxemb3.500   3/18/2043   EUR   73.320
DNB Bank ASA        5.203               USD   69.865
RWE AG              0.625   6/11/2031   EUR   74.740
GTLK Europe Capital 4.800   2/26/2028   USD   22.244
Polyus Finance PLC  4.700   1/29/2024   USD   60.001
State of North Rhine1.750   10/26/2057  EUR   67.490
Aeroports de Paris  1.125   6/18/2034   EUR   70.489
Wellcome Trust Ltd/T1.500   7/14/2071   GBP   39.389
UniCredit Bank AG   0.375   1/17/2033   EUR   74.909
Hera SpA            1.000   4/25/2034   EUR   70.729
Lendlease Europe Fin3.500   12/2/2033   GBP   66.227
Kreditanstalt fuer W1.125   3/31/2037   EUR   74.881
AstraZeneca PLC     2.125   8/6/2050    USD   59.709
Digital Dutch Finco 1.000   1/15/2032   EUR   71.296
Groupe des Assurance1.850   4/21/2042   EUR   72.792
Samhallsbyggnadsbola6.419               SEK   60.985
EYEMAXX Real Estate 5.500   4/26/2023   EUR   1.430
A2A SpA             1.000   11/2/2033   EUR   70.373
Prologis Internation3.000   2/22/2042   GBP   70.432
Vesteda Finance BV  0.750   10/18/2031  EUR   73.361
UBS Group AG        0.625   2/24/2033   EUR   70.859
Marston's Issuer PLC6.482   7/16/2035   GBP   74.799
Holcim Finance Luxem1.375   10/8/2036   EUR   60.424
Enel Finance Interna1.125   10/17/2034  EUR   68.418
Anglo American Capit3.950   9/10/2050   USD   74.592
Lseg Netherlands BV 0.750   4/6/2033    EUR   74.037
Close Brothers Finan1.625   12/3/2030   GBP   73.904
Bulgaria Government 1.500   6/21/2039   BGN   54.373
Mallinckrodt Interna10.000  4/15/2025   USD   68.500
Interpipe Holdings P8.375   5/13/2026   USD   47.250
Holcim Finance Luxem0.500   9/3/2030    EUR   74.633
BP Capital Markets B0.933   12/4/2040   EUR   56.573
Ilija Batljan Invest5.764   12/15/2024  SEK   67.382
GlaxoSmithKline Capi1.625   5/12/2035   GBP   69.709
esure Group PLC     6.000               GBP   68.653
Merlin Properties So1.875   12/4/2034   EUR   70.772
UBS Group AG        3.179   2/11/2043   USD   72.379
VTB Bank OJSC Via VT4.073   10/24/2024  CHF   16.000
Electricite de Franc1.875   10/13/2036  EUR   70.779
Vonovia Finance BV  1.625   10/7/2039   EUR   59.477
Deutsche Bahn Financ0.625   4/15/2036   EUR   67.356
Selina Hospitality P6.000   11/1/2026   USD   48.015
Credit Suisse Group 6.375               USD   73.939
Deutsche Telekom AG 1.750   12/9/2049   EUR   63.972
Andorra Internationa1.700   10/13/2041  EUR   63.911
Abengoa Abenewco 2 S1.500   10/26/2024  USD   0.813
National Gas Transmi1.375   2/7/2031    GBP   73.473
European Financial S0.050   1/18/2052   EUR   38.337
Wellcome Trust Ltd/T2.517   2/7/2118    GBP   52.282
Deutsche Telekom AG 3.625   1/21/2050   USD   74.362
Bigben Interactive  1.125   2/19/2026   EUR   70.042
Hannover Rueck SE   1.375   6/30/2042   EUR   72.103
Societe Generale SA 4.027   1/21/2043   USD   69.464
Severn Trent Utiliti2.000   6/2/2040    GBP   62.275
ERG SpA             0.875   9/15/2031   EUR   74.638
Snam SpA            1.250   6/20/2034   EUR   71.898
LEG Immobilien SE   1.000   11/19/2032  EUR   69.435
Russian Foreign Bond1.850   11/20/2032  EUR   38.355
Medtronic Global Hol1.500   7/2/2039    EUR   66.816
Intu Debenture PLC  5.562   12/31/2027  GBP   41.440
Deutsche Bahn Financ1.125   5/29/2051   EUR   53.929
E.ON SE             0.875   10/18/2034  EUR   70.042
Movida Europe SA    5.250   2/8/2031    USD   65.366
State of North Rhine1.375   1/15/2120   EUR   45.252
Diebold Nixdorf Dutc9.000   7/15/2025   EUR   65.690
EnfraGen Energia Sur5.375   12/30/2030  USD   66.812
Groupe Bruxelles Lam0.125   1/28/2031   EUR   74.120
Cadent Finance PLC  0.750   3/11/2032   EUR   72.538
O1 Properties Financ0.500   9/27/2028   USD   5.235
GTLK Europe Capital 4.949   2/18/2026   USD   20.199
Credit Agricole Home0.375   2/1/2033    EUR   73.665
Traton Finance Luxem1.250   3/24/2033   EUR   72.984
Mondelez Internation0.625   9/9/2032    EUR   73.231
Storebrand Livsforsi1.875   9/30/2051   EUR   71.107
Blackstone Property 1.750   3/12/2029   EUR   72.910
TotalEnergies Capita2.986   6/29/2041   USD   74.372
BNP Paribas SA      2.824   1/26/2041   USD   65.623
Medtronic Global Hol1.375   10/15/2040  EUR   64.070
BNP Paribas SA      1.250   7/13/2031   GBP   71.506
Ireland Government B0.400   5/15/2035   EUR   70.541
Sovcombank Via SovCo8.000   4/7/2030    USD   5.574
DNB Bank ASA        5.360               USD   70.407
MMK International Ca4.375   6/13/2024   USD   26.437
DNB Bank ASA        5.385               USD   70.369
Telefonica Emisiones1.864   7/13/2040   EUR   68.956
Royalty Pharma PLC  3.300   9/2/2040    USD   69.477
CNP Assurances      1.875   10/12/2053  EUR   71.064
Rallye SA           3.400   2/28/2032   EUR   3.787
Cyprus Government In1.250   1/21/2040   EUR   64.049
Ireland Government B0.550   4/22/2041   EUR   60.604
Air Berlin PLC      6.750   5/9/2019    EUR   0.489
GTLK Europe DAC     5.125   5/31/2024   USD   29.672
Thomas Cook Group PL6.250   6/15/2022   EUR   0.325
Mondelez Internation1.250   9/9/2041    EUR   62.153
Platform HG Financin1.926   9/15/2041   GBP   62.153
Jyske Realkredit A/S1.000   10/1/2050   DKK   71.542
Idavang A/S         9.857   11/11/2025  EUR   72.494
Talanx AG           1.750   12/1/2042   EUR   73.123
Hungary Government B2.250   6/22/2034   HUF   55.371
National Grid Electr0.823   7/7/2032    EUR   73.405
Cooperatieve Raboban0.625   2/25/2033   EUR   70.909
BAE Systems PLC     3.000   9/15/2050   USD   66.679
Basque Government   0.450   4/30/2032   EUR   74.526
Perrigo Finance Unli4.900   12/15/2044  USD   71.189
Greene King Finance 5.512   12/15/2034  GBP   74.000
Linde PLC/old       1.000   9/30/2051   EUR   52.144
Kreditanstalt fuer W0.875   7/4/2039    EUR   68.979
Euroboden GmbH      5.500   10/1/2024   EUR   65.959
Koninklijke KPN NV  0.875   11/15/2033  EUR   71.891
Jyske Realkredit A/S1.000   10/1/2050   DKK   67.187
Aroundtown SA       2.912   9/20/2030   EUR   69.867
Ozon Holdings PLC   1.875   2/24/2026   USD   58.627
DSV Finance BV      0.750   7/5/2033    EUR   70.593
Rallye SA           4.000   2/28/2032   CHF   9.941
Wales & West Utiliti1.875   5/28/2041   GBP   59.592
Vedanta Resources Fi8.950   3/11/2025   USD   69.503
National Grid Electr0.872   11/26/2040  EUR   55.781
Lloyds Banking Group3.369   12/14/2046  USD   67.492
Scottish Hydro Elect2.125   3/24/2036   GBP   69.618
Vonovia SE          0.625   3/24/2031   EUR   70.725
Finland Government B0.250   9/15/2040   EUR   59.040
GTLK Europe Capital 4.349   2/27/2029   USD   20.363
BPCE SA             0.250   1/14/2031   EUR   73.883
Medtronic Global Hol1.750   7/2/2049    EUR   59.537
Stichting Afwikkelin6.250   10/26/2020  EUR   43.625
VEON Holdings BV    3.375   11/25/2027  USD   70.473
Czech Gas Networks I0.875   3/31/2031   EUR   71.154
Manchester Airport G2.875   9/30/2044   GBP   64.545
Iren SpA            0.250   1/17/2031   EUR   72.069
Eurogrid GmbH       0.741   4/21/2033   EUR   72.498
OGX Austria GmbH    8.500   6/1/2018    USD   0.486
GTLK Europe Capital 5.950   4/17/2025   USD   26.739
OP Corporate Bank pl0.750   3/24/2031   EUR   74.975
Kreditanstalt fuer W0.050   9/29/2034   EUR   69.143
Northern Powergrid N1.875   6/16/2062   GBP   47.277
Credit Suisse Group 4.500               USD   57.750
ABH Financial Ltd Vi2.700   6/11/2023   EUR   15.140
Sovcombank Via SovCo3.400   1/26/2025   USD   2.185
Immigon Portfolioabb8.813               EUR   9.950
Alno AG             8.500   5/14/2018   EUR   18.421
Wuestenrot & Wuertte2.125   9/10/2041   EUR   71.134
Finland Government B0.500   4/15/2043   EUR   59.123
Credit Mutuel Arkea 0.875   10/25/2031  EUR   74.532
K2A Knaust & Anderss8.808               SEK   69.902
Rallye SA           3.250   2/28/2032   CHF   5.180
Shell International 1.750   9/10/2052   GBP   46.546
Landesbank Baden-Wue0.375   2/21/2031   EUR   73.258
TotalEnergies Capita1.535   5/31/2039   EUR   70.177
Siemens Financiering2.875   3/11/2041   USD   74.941
Ageas SA/NV         1.875   11/24/2051  EUR   72.578
Autonomous Community0.700   7/30/2033   EUR   71.995
Genfit SA           3.500   10/16/2025  EUR   26.469
Unilever PLC        1.500   6/11/2039   EUR   72.111
Syngenta Finance NV 4.375   3/28/2042   USD   73.553
Northern Powergrid N3.250   4/1/2052    GBP   69.717
Repsol Europe Financ0.875   7/6/2033    EUR   71.736
Thomas Cook Finance 3.875   7/15/2023   EUR   0.596
Slovakia Government 2.250   6/12/2068   EUR   68.334
Intelsat Jackson Hol9.750   7/15/2025   USD   0.495
Alfa Bank AO Via Alf5.900               USD   2.566
NIBC Bank NV        2.570               USD   74.149
South Eastern Power 1.750   9/30/2034   GBP   70.449
GTLK Europe Capital 4.650   3/10/2027   USD   21.854
Abengoa Abenewco 2 S1.500   10/26/2024  USD   1.113
Intelsat Jackson Hol5.500   8/1/2023    USD   0.495
Euroclear Investment1.375   6/16/2051   EUR   74.832
Rusal Capital DAC   5.300   5/3/2023    USD   41.119
Shell International 2.875   11/26/2041  USD   73.837
Nederlandse Watersch0.125   9/3/2035    EUR   66.341
Nostrum Oil & Gas Fi8.000   7/25/2022   USD   25.958
Hampshire Trust Bank7.250   5/10/2028   GBP   69.248
Linde PLC/old       0.375   9/30/2033   EUR   69.893
Agri Resources Group8.000   3/17/2026   EUR   48.777
Aberdeen City Counci0.100   2/28/2054   GBP   74.177
Debenhams PLC       5.250   7/15/2021   GBP   0.211
Caisse des Depots et1.552   8/16/2038   EUR   71.754
VTR Finance NV      6.375   7/15/2028   USD   42.617
Banque Federative du0.625   2/21/2031   EUR   74.392
JDE Peet's NV       1.125   6/16/2033   EUR   71.520
Trinseo Materials Op5.125   4/1/2029    USD   67.730
Chancellor Masters &2.350   6/27/2078   GBP   55.843
Places For People Tr2.500   1/26/2036   GBP   70.543
Aragvi Finance Inter8.450   4/29/2026   USD   70.225
Medtronic Global Hol1.625   10/15/2050  EUR   56.591
Yandex NV           0.750   9/13/2022   USD   69.352
DH Europe Finance II1.800   9/18/2049   EUR   62.887
Privatbank CJSC Via 10.250  1/23/2018   USD   3.072
JAB Holdings BV     3.750   5/28/2051   USD   63.997
Nordea Kredit Realkr1.000   10/1/2050   DKK   67.171
Blend Funding PLC   2.922   4/5/2054    GBP   62.664
British Telecommunic3.625   11/21/2047  GBP   68.061
National Gas Transmi1.125   1/14/2033   GBP   66.054
Orpea SA            2.564   11/30/2027  EUR   26.714
Altice France Holdin6.000   2/15/2028   USD   68.560
Holcim Sterling Fina2.250   4/4/2034    GBP   71.405
Travelex Financing P8.000   5/15/2022   EUR   0.432
Segro Capital Sarl  0.500   9/22/2031   EUR   70.599
Offshore Drilling Ho8.375   9/20/2020   USD   2.689
Unibail-Rodamco-West2.250   5/14/2038   EUR   74.132
Aroundtown SA       3.625   4/10/2031   GBP   67.409
Nordea Kredit Realkr1.000   10/1/2050   DKK   71.521
Orange SA           1.375   9/4/2049    EUR   63.619
Cardiff University  3.000   12/7/2055   GBP   68.347
Finland Government B1.375   4/15/2047   EUR   69.909
Eurocaja Rural SCC  0.125   9/22/2031   EUR   74.361
Realkredit Danmark A1.000   10/1/2050   DKK   67.064
Kreditanstalt fuer W1.125   6/15/2037   EUR   74.408
Rallye SA           5.250   2/28/2032   EUR   3.324
Telefonica Emisiones1.957   7/1/2039    EUR   71.995
Sovcombank Via SovCo7.750               USD   3.379
Eversholt Funding PL3.529   8/7/2042    GBP   72.737
Berlin Hyp AG       0.375   4/21/2031   EUR   73.636
Danfoss Finance II B0.750   4/28/2031   EUR   74.834
ABN AMRO Bank NV    1.000   6/2/2033    EUR   72.808
RTE Reseau de Transp0.750   1/12/2034   EUR   72.279
Pozavarovalnica Sava3.750   11/7/2039   EUR   71.119
OGX Austria GmbH    8.375   4/1/2022    USD   0.482
LEG Immobilien SE   0.750   6/30/2031   EUR   72.353
RTE Reseau de Transp1.125   7/8/2040    EUR   64.351
Simpar Europe SA    5.200   1/26/2031   USD   66.453
Hera SpA            0.250   12/3/2030   EUR   73.729
Deutsche Bahn Financ0.875   6/23/2039   EUR   64.713
ABN AMRO Bank NV    1.250   1/20/2034   EUR   72.225
Alfa Bank AO Via Alf6.950               USD   2.566
Snam SpA            0.625   6/30/2031   EUR   74.406
Omnicom Capital Hold2.250   11/22/2033  GBP   74.421
Credit Agricole SA  2.811   1/11/2041   USD   65.347
Clarion Funding PLC 3.125   4/19/2048   GBP   66.771
BNP Paribas SA      2.000   9/13/2036   GBP   66.084
Cyprus Government In2.250   4/16/2050   EUR   72.513
Investor AB         0.375   10/29/2035  EUR   64.963
Latvia Government In1.875   2/19/2049   EUR   68.492
Annington Funding PL3.935   7/12/2047   GBP   68.590
Santhera Pharmaceuti7.500   8/17/2024   CHF   74.923
Nykredit Realkredit 1.500   10/1/2050   DKK   72.867
Cooperatieve Raboban1.000   1/19/2034   EUR   72.242
Nestle Finance Inter0.875   6/14/2041   EUR   62.364
Solocal Group       9.046   3/15/2025   EUR   68.000
Celtic Resources Hol4.125   10/9/2024   USD   12.324
Scandinavian Airline0.625               CHF   13.770
Allied Irish Banks P12.500  6/25/2035   GBP   54.964
Finland Government B0.125   4/15/2036   EUR   65.775
Junta de Castilla y 1.275   4/7/2049    EUR   54.137
Credit Bank of Mosco7.121   6/25/2024   USD   23.487
Enexis Holding NV   0.375   4/14/2033   EUR   71.203
JAB Holdings BV     2.250   12/19/2039  EUR   67.428
Action Logement Serv0.500   10/30/2034  EUR   69.472
Volkswagen Internati1.500   1/21/2041   EUR   61.012
Samhallsbyggnadsbola7.000   7/24/2023   SEK   71.582
Orange SA           0.750   6/29/2034   EUR   69.836
Claranova SE        5.000   7/1/2023    EUR   1.070
NRW Bank            0.100   7/9/2035    EUR   66.633
Vedanta Resources Lt6.125   8/9/2024    USD   68.220
Banco Santander SA  0.180   6/22/2031   EUR   75.024
State of Brandenburg0.600   10/13/2051  EUR   50.023
Aeroports de Paris  2.125   10/11/2038  EUR   74.150
Nykredit Realkredit 0.500   10/1/2043   DKK   74.225
Nykredit Realkredit 0.500   10/1/2050   DKK   67.400
Cie de Financement F0.600   10/25/2041  EUR   60.203
Deutsche Bahn Financ1.375   4/16/2040   EUR   68.898
Scottish Hydro Elect2.250   9/27/2035   GBP   71.768
Heineken NV         1.750   5/7/2040    EUR   71.015
Agence Francaise de 1.125   3/2/2037    EUR   71.349
Regiao Autonoma Made1.141   12/4/2034   EUR   69.334
Credit Agricole Ital0.375   1/20/2032   EUR   73.346
Lithuania Government0.300   2/12/2032   EUR   69.438
Societe Nationale SN0.875   2/28/2051   EUR   45.975
Air Liquide Finance 0.375   9/20/2033   EUR   71.885
Engie SA            2.000   9/28/2037   EUR   74.066
State of North Rhine1.450   2/16/2043   EUR   71.015
Russian Federal Bond6.100   7/18/2035   RUB   70.998
Anchor Hanover Group2.000   7/21/2051   GBP   52.394
UNEDIC ASSEO        0.250   7/16/2035   EUR   67.297
Thames Water Utiliti2.375   4/22/2040   GBP   62.698
Ukraine Government B9.790   5/26/2027   UAH   52.185
Vonovia Finance BV  1.000   1/28/2041   EUR   50.133
Societe Nationale SN1.000   1/19/2061   EUR   39.509
Schlote Holding GmbH6.750   11/21/2024  EUR   65.917
Euroboden GmbH      5.500   11/18/2025  EUR   61.926
CCEP Finance Ireland0.875   5/6/2033    EUR   73.024
Agence Francaise de 0.500   5/31/2035   EUR   68.880
PREOS Global Office 7.500   12/9/2024   EUR   37.500
European Financial S0.700   1/17/2053   EUR   49.138
Region Wallonne Belg1.050   6/22/2040   EUR   63.584
Credit Suisse Group 5.100               USD   70.290
Richemont Internatio1.625   5/26/2040   EUR   71.323
Jyske Realkredit A/S1.000   10/1/2053   DKK   65.895
BPCE SA             3.582   10/19/2042  USD   68.037
BAWAG PSK Bank fuer 0.625   6/19/2034   EUR   72.287
United Utilities Wat0.010   7/27/2040   GBP   71.324
Latvia Government In1.375   5/16/2036   EUR   73.311
Societe Du Grand Par1.000   2/18/2070   EUR   38.737
Ukraine Government B11.670  11/22/2023  UAH   79.672
Accent Capital PLC  2.625   7/18/2049   GBP   62.697
Guinness Partnership2.000   4/22/2055   GBP   49.768
Beyond Housing Ltd  2.125   5/17/2051   GBP   54.922
Intesa Sanpaolo SpA 2.625   3/11/2036   GBP   67.618
AI Candelaria Spain 5.750   6/15/2033   USD   70.788
State of North Rhine0.600   6/4/2041    EUR   61.392
Clarion Funding PLC 1.875   9/7/2051    GBP   48.165
European Financial S0.700   1/20/2050   EUR   52.335
Intelsat Jackson Hol8.500   10/15/2024  USD   0.495
European Financial S2.000   2/28/2056   EUR   72.132
Societa di Progetto 3.375   12/31/2038  EUR   72.904
Sovereign Housing Ca2.375   11/4/2048   GBP   59.230
AXA Logistics Europe0.875   11/15/2029  EUR   74.596
EnBW International F0.500   3/1/2033    EUR   69.913
Home Group Ltd      3.125   3/27/2043   GBP   70.115
Societe Du Grand Par0.700   10/15/2060  EUR   36.543
Cadent Finance PLC  2.250   10/10/2035  GBP   68.930
Clarion Funding PLC 1.875   1/22/2035   GBP   69.065
Aroundtown SA       4.750   3/27/2032   USD   66.627
Norwegian Air Shuttl7.137   2/7/2023    SEK   63.500
Investitionsbank Ber0.050   3/2/2035    EUR   67.267
LEG Immobilien SE   1.625   11/28/2034  EUR   67.377
Shell International 0.500   11/8/2031   EUR   74.660
Snam SpA            1.000   9/12/2034   EUR   68.961
Credit Agricole SA  2.811   1/11/2041   USD   65.941
Orange SA           0.625   12/16/2033  EUR   70.362
DH Europe Finance II3.400   11/15/2049  USD   76.021
Orpea SA            2.770   12/18/2028  EUR   27.007
Becton Dickinson Eur1.213   2/12/2036   EUR   68.592
publity AG          5.500   6/19/2025   EUR   68.665
Social Chain AG /The5.750   4/7/2024    EUR   65.000
Metropolitano de Ten1.229   7/30/2036   EUR   67.843
Vedanta Resources Fi9.250   4/23/2026   USD   67.630
Hellenic Republic Go2.085   7/25/2057   EUR   31.606
Metalloinvest Financ3.375   10/22/2028  USD   53.000
Realkredit Danmark A1.500   10/1/2053   DKK   70.415
Bromford Housing Gro3.125   5/3/2048    GBP   69.640
City of Lugano Switz0.150   11/28/2070  CHF   41.532
Shell International 3.125   11/7/2049   USD   71.519
State of North Rhine0.500   1/15/2052   EUR   48.136
Bayer AG            1.000   1/12/2036   EUR   66.375
European Financial S1.375   5/31/2047   EUR   67.015
BPCE SFH SA         0.010   1/29/2036   EUR   63.078
RTE Reseau de Transp0.625   7/8/2032    EUR   74.499
M2 Asset Management 7.110   2/4/2026    SEK   71.815
Nationale-Nederlande0.375   3/4/2041    EUR   58.249
TechnipFMC PLC      3.750   10/7/2033   EUR   68.991
Nordea Kredit Realkr1.500   10/1/2053   DKK   74.976
Sirius Real Estate L1.750   11/24/2028  EUR   72.332
Terragon AG         6.500   5/24/2024   EUR   5.000
Notting Hill Genesis3.250   10/12/2048  GBP   67.533
ABN AMRO Bank NV    0.625   1/24/2037   EUR   68.644
M Objekt Real Estate6.000   7/22/2024   EUR   50.619
British Telecommunic4.250   11/8/2049   USD   74.727
Lithuania Government0.750   7/15/2051   EUR   48.851
CK Hutchison Group T2.625   10/17/2034  GBP   70.057
Deutsche Wohnen SE  0.500   4/7/2031    EUR   69.752
Fastighets AB Balder1.293   3/3/2031    EUR   60.147
FF Group Finance Lux1.750   7/3/2019    EUR   5.000
Cirio Holding Luxemb6.250   2/16/2004   EUR   1.467
London & Quadrant Ho3.750   10/27/2049  GBP   73.301
Nordea Kredit Realkr1.000   10/1/2053   DKK   70.734
Chelyabinsk Pipe Pla4.500   9/19/2024   USD   21.363
ESB Finance DAC     1.000   7/19/2034   EUR   72.450
Global Ports Finance6.500   9/22/2023   USD   23.469
Ville de Paris      1.200   6/25/2039   EUR   68.323
DWR Cymru Financing 2.375   3/31/2034   GBP   72.933
Basque Government   1.000   10/31/2050  EUR   47.940
NPC Ukrenergo       6.875   11/9/2028   USD   17.325
LiveWest Treasury PL2.250   10/10/2043  GBP   63.194
Avangardco Investmen10.000  10/29/2018  USD   0.133
Covivio SA/France   0.875   1/20/2033   EUR   71.424
National Grid Electr2.000   4/17/2040   GBP   60.839
DSV Finance BV      0.875   9/17/2036   EUR   65.211
Kenbourne Invest SA 4.700   1/22/2028   USD   67.284
Realkredit Danmark A1.000   10/1/2053   DKK   65.811
BAWAG PSK Bank fuer 0.250   1/12/2032   EUR   74.999
State of North Rhine0.750   8/16/2041   EUR   62.785
EYEMAXX Real Estate 5.500   9/24/2024   EUR   3.207
Nationwide Building 0.500   5/5/2041    EUR   59.556
Barclays Bank PLC   2.500   12/29/2032  USD   75.075
KTG Agrar SE        7.125   6/6/2017    EUR   2.002
Barclays Bank PLC   12.000  9/24/2025   TRY   62.771
Motability Operation2.125   1/18/2042   GBP   63.524
A2A SpA             0.625   10/28/2032  EUR   70.065
Nykredit Realkredit 2.000   10/1/2053   DKK   74.267
Russian Foreign Bond4.250   6/23/2027   USD   41.854
Uralkali OJSC Via Ur4.000   10/22/2024  USD   19.366
Argenta Spaarbank NV0.500   10/8/2041   EUR   58.388
Notting Hill Genesis2.000   6/3/2036    GBP   67.646
Gecina SA           0.875   6/30/2036   EUR   66.850
Credit Mutuel Arkea 0.875   3/11/2033   EUR   72.141
Jigsaw Funding PLC  3.375   5/5/2052    GBP   73.237
Societe Nationale SN1.000   5/25/2040   EUR   62.392
Segro PLC           2.875   10/11/2037  GBP   74.505
London & Quadrant Ho2.000   10/20/2038  GBP   62.894
Nederlandse Gasunie 0.375   10/3/2031   EUR   74.206
Cadent Finance PLC  2.750   9/22/2046   GBP   59.286
EYEMAXX Real Estate 5.500   7/22/2025   EUR   16.000
BNG Bank NV         1.500   7/15/2039   EUR   75.120
TotalEnergies Capita1.618   5/18/2040   EUR   67.508
de Volksbank NV     0.375   9/16/2041   EUR   56.721
Tritax Big Box REIT 1.500   11/27/2033  GBP   67.043
Cooperatieve Raboban0.750   6/21/2039   EUR   65.715
Italgas SpA         0.500   2/16/2033   EUR   69.259
Land Securities Capi2.625   9/22/2037   GBP   73.416
Lehman Brothers UK C3.875               EUR   18.599
2i Rete Gas SpA     0.579   1/29/2031   EUR   74.603
New World Resources 4.000   10/7/2020   EUR   0.010
Norske Skogindustrie7.000   12/30/2026  EUR   0.010
Bourbon Corp        11.652              EUR   0.964
Communaute Francaise2.300   4/25/2089   EUR   68.342
United Utilities Wat1.750   2/10/2038   GBP   65.119
ING-DiBa AG         1.000   5/23/2039   EUR   69.063
Hellas Telecommunica6.054   1/15/2015   USD   0.014
La Poste SA         1.000   9/17/2034   EUR   70.887
Berlin Hyp AG       0.250   5/19/2033   EUR   73.225
Wales & West Utiliti3.000   8/3/2038    GBP   74.546
Vnesheconombank Via 6.800   11/22/2025  USD   5.564
Lithuania Government1.625   6/19/2049   EUR   62.795
Annington Funding PL2.924   10/6/2051   GBP   54.181
Assura Financing PLC1.625   6/30/2033   GBP   68.581
SNCF Reseau         2.250   12/20/2047  EUR   73.403
European Financial S1.700   2/13/2043   EUR   74.690
Societe Generale SA 9.000   12/22/2034  USD   70.000
UkrLandFarming PLC  10.875  3/26/2018   USD   1.751
East Slope Residenci0.100   2/28/2062   GBP   64.073
University College L1.625   6/4/2061    GBP   47.958
ING Bank NV         1.000   2/17/2037   EUR   72.633
Land Securities Capi2.750   9/22/2059   GBP   59.408
Basque Government   1.375   10/31/2070  EUR   40.769
Hellas Telecommunica8.500   10/15/2013  EUR   0.834
Ukreximbank Via Biz 9.750   1/22/2025   USD   33.472
Wendel SE           1.375   1/18/2034   EUR   69.976
Hexagon Housing Asso3.625   4/22/2048   GBP   71.753
NRW Bank            1.250   5/13/2049   EUR   65.176
Petrobras Global Fin4.500   2/4/2033    EUR   66.144
MHP SE              7.750   5/10/2024   USD   52.701
Engie SA            1.250   10/24/2041  EUR   60.254
Nordea Kredit Realkr0.500   10/1/2050   DKK   67.447
Croatia Government B1.250   3/3/2040    EUR   62.908
TMK OAO Via TMK Capi4.300   2/12/2027   USD   53.713
SES SA              5.300   4/4/2043    USD   74.841
Air Berlin PLC      8.250   4/19/2018   EUR   0.423
Region Wallonne Belg0.650   1/16/2051   EUR   44.736
British Telecommunic4.250   11/8/2049   USD   74.727
National Grid Electr2.000   9/16/2038   GBP   62.847
Societe Generale SA 1.113   7/17/2031   EUR   72.182
Cie de Financement F0.010   10/29/2035  EUR   64.101
Gazprom PJSC Via Gaz4.950   2/6/2028    USD   73.875
Volkswagen Internati3.500   4/2/2043    EUR   73.659
DXC Capital Funding 0.950   9/15/2031   EUR   74.743
Caisse de Refinancem0.250   2/7/2035    EUR   68.357
BAWAG PSK Bank fuer 0.010   11/19/2035  EUR   63.018
Barclays Bank PLC   0.500   1/28/2033   MXN   36.999
Aster Treasury Plc  1.405   1/27/2036   GBP   66.360
European Primary Pla1.732   11/9/2055   GBP   48.547
Equinor ASA         3.250   11/18/2049  USD   74.176
Cadent Finance PLC  2.625   9/22/2038   GBP   67.026
Nederlandse Watersch1.625   1/29/2048   EUR   70.776
CRC Breeze Finance S6.110   5/8/2026    EUR   75.045
Perrigo Co PLC      5.300   11/15/2043  USD   72.500
Nationale-Nederlande0.050   11/12/2040  EUR   54.784
Realkredit Danmark A1.500   10/1/2053   DKK   74.901
Realkredit Danmark A1.000   10/1/2053   DKK   60.270
Engie SA            1.375   6/21/2039   EUR   65.012
Eni SpA             1.000   10/11/2034  EUR   70.357
Yuksel Insaat AS    9.500   11/10/2015  USD   0.500
Virgolino de Oliveir10.500  1/28/2018   USD   0.809
WM Morrison Supermar2.500   10/1/2031   GBP   46.099
BNG Bank NV         0.125   7/9/2035    EUR   67.185
Allianz Finance II B0.500   11/22/2033  EUR   72.957
Community Finance Co0.339   12/1/2040   GBP   74.014
HOWOGE Wohnungs-baug1.125   11/1/2033   EUR   72.361
Deutsche Lichtmiete 5.750   12/1/2023   EUR   11.206
Libra Longhurst Grou3.250   5/15/2043   GBP   72.385
Societe Nationale SN2.842   3/31/2036   AUD   74.833
Mercedes-Benz Group 1.125   8/8/2034    EUR   74.232
EXOR NV             1.750   10/14/2034  EUR   74.663
OGX Austria GmbH    8.375   4/1/2022    USD   0.482
Southern Housing Gro2.375   10/8/2036   GBP   71.404
Liquid Telecommunica5.500   9/4/2026    USD   69.122
Veolia Environnement1.250   5/14/2035   EUR   73.145
Severn Trent Utiliti0.010   12/16/2055  GBP   48.025
DZ HYP AG           0.375   11/10/2034  EUR   70.634
Espirito Santo Finan6.875   10/21/2019  EUR   0.053
State of Rhineland-P0.375   4/1/2041    EUR   59.178
Adecco International0.500   9/21/2031   EUR   74.571
Realkredit Danmark A1.000   10/1/2053   DKK   70.582
Erste Group Bank AG 0.875   5/15/2034   EUR   74.887
Engie SA            1.500   3/13/2035   EUR   73.505
Region de Bruxelles-1.121   5/11/2071   EUR   40.329
Metinvest BV        7.750   10/17/2029  USD   50.000
State of North Rhine1.500   6/12/2040   EUR   74.647
Jyske Realkredit A/S1.000   10/1/2053   DKK   70.829
SNCF Reseau         2.000   2/5/2048    EUR   68.567
Kreditanstalt fuer W0.375   5/20/2036   EUR   68.640
University of Leeds 3.125   12/19/2050  GBP   71.915
Royal Schiphol Group0.875   9/8/2032    EUR   74.213
Kuntarahoitus Oyj   0.050   9/10/2035   EUR   66.394
Russian Federal Bond7.100   5/15/2041   RUB   73.040
Nykredit Realkredit 0.500   10/1/2053   DKK   65.309
Deutsche Wohnen SE  1.300   4/7/2041    EUR   54.232
Suek Securities DAC 3.375   9/15/2026   USD   30.000
BNG Bank NV         0.805   6/28/2049   EUR   53.269
SCOR SE             1.375   9/17/2051   EUR   70.451
Nordea Kredit Realkr1.000   10/1/2053   DKK   65.890
Lehman Brothers UK C5.125               EUR   18.602
BAWAG PSK Bank fuer 0.375   3/25/2041   EUR   57.644
NRW Bank            1.250   3/21/2044   EUR   68.752
Societe Du Grand Par0.300   9/2/2036    EUR   63.331
Cie Generale des Eta0.625   11/2/2040   EUR   59.958
Land Berlin         0.625   1/26/2052   EUR   50.370
Deutsche Bahn Financ0.750   7/16/2035   EUR   69.593
Orpea SA            3.000   11/25/2041  EUR   27.042
UK Municipal Bonds A1.625   8/26/2060   GBP   43.170
Saleza AS           9.000   7/12/2021   EUR   0.203
Enagas Financiacione0.375   11/5/2032   EUR   72.888
La Poste SA         0.625   1/18/2036   EUR   64.756
Deutsche Bahn Financ3.100   5/20/2041   AUD   71.200
Diageo Finance PLC  1.250   3/28/2033   GBP   71.504
Dexia Credit Local S4.433               EUR   3.262
Martlet Homes Ltd   3.000   5/9/2052    GBP   66.137
Gazprom PJSC via Gaz4.599               USD   53.000
CCEP Finance Ireland1.500   5/6/2041    EUR   65.898
Tresu Investment Hol7.128   1/2/2025    EUR   44.436
Banco Espirito Santo6.875   7/15/2016   EUR   20.290
Bilt Paper BV       10.360              USD   1.294
Canton of Zurich    0.100   6/23/2045   CHF   67.601
ABN AMRO Bank NV    1.115   3/3/2042    EUR   67.074
Vier Gas Transport G0.500   9/10/2034   EUR   66.129
Credit Agricole Home0.010   11/3/2031   EUR   73.956
Nordea Kredit Realkr1.500   10/1/2053   DKK   66.753
Virgolino de Oliveir11.750  2/9/2022    USD   0.815
Intesa Sanpaolo SpA 4.375   1/12/2048   USD   70.240
University of Southa2.250   4/11/2057   GBP   55.128
Jyske Realkredit A/S1.500   10/1/2050   DKK   72.896
Autobahnen- und Schn0.100   7/16/2035   EUR   67.520
Elli Finance UK PLC 8.750   6/15/2019   GBP   57.445
Gazprom PJSC via Gaz3.500   7/14/2031   USD   65.000
MMC Norilsk Nickel O6.625   10/14/2022  USD   72.031
Royal Schiphol Group0.750   4/22/2033   EUR   72.026
Nordea Kredit Realkr1.500   10/1/2053   DKK   70.456
Deutsche Lichtmiete 5.250   9/1/2025    EUR   3.020
Uliving@essex3 LLP  2.720   8/31/2066   GBP   47.226
Realkredit Danmark A0.500   10/1/2050   DKK   67.402
Southern Gas Network1.250   12/2/2031   GBP   71.827
Saltaire Finance PLC2.711   5/9/2052    GBP   66.852
Havila Shipping ASA 7.760   1/2/2025    NOK   40.000
Societe Du Grand Par1.625   4/8/2042    EUR   68.998
Banco Espirito Santo5.499               EUR   2.270
Nykredit Realkredit 1.000   10/1/2053   DKK   60.258
Avanti Communication9.000   10/1/2022   USD   14.363
VF Ukraine PAT via V6.200   2/11/2025   USD   58.412
Blend Funding PLC   3.459   9/21/2047   GBP   73.571
Housing & Care 21   3.288   11/8/2049   GBP   69.646
Nats En Route PLC   1.750   9/30/2033   GBP   72.305
Bank Gospodarstwa Kr2.000   11/3/2036   EUR   69.205
Gazprom PJSC via Gaz3.250   2/25/2030   USD   69.697
European Financial S1.800   7/10/2048   EUR   71.965
Erste Group Bank AG 0.500   1/12/2037   EUR   65.950
LFA Foerderbank Baye0.050   9/29/2034   EUR   68.226
Land Berlin         0.350   9/9/2050    EUR   46.472
Flagship Finance PLC1.875   7/14/2061   GBP   47.102
Realkredit Danmark A0.500   10/1/2053   DKK   63.332
Communaute Francaise0.625   6/11/2035   EUR   68.503
Societe Generale SA 10.000  6/28/2034   USD   69.250
Bayerische Landesbod0.250   3/21/2036   EUR   67.450
Hamon & CIE SA      3.300   1/31/2035   EUR   46.000
Ukraine Government I4.375   1/27/2032   EUR   16.502
London & Quadrant Ho2.750   7/20/2057   GBP   57.489
BPCE SA             3.582   10/19/2042  USD   67.644
Societe Du Grand Par1.000   11/26/2051  EUR   49.809
Karbon Homes Ltd    3.375   11/15/2047  GBP   74.346
Constellation Automo4.875   7/15/2027   GBP   71.917
Metropolitan Housing1.875   7/28/2036   GBP   66.665
Orpea SA            2.000   8/9/2029    EUR   26.937
Prosus NV           3.832   2/8/2051    USD   60.541
Deutsche Bank AG    0.687   10/11/2049  EUR   41.060
Affinity Water Finan3.278   8/22/2042   GBP   71.399
Ministeries Van de V0.875   3/21/2046   EUR   55.085
Emissionszentrale fu0.150   9/9/2041    CHF   71.507
Nederlandse Watersch0.375   9/28/2046   EUR   51.321
Prosus NV           4.987   1/19/2052   USD   71.534
Jyske Realkredit A/S1.500   10/1/2053   DKK   74.982
RTE Reseau de Transp1.125   9/9/2049    EUR   54.215
Cie Generale des Eta0.250   11/2/2032   EUR   73.743
Gazprom PJSC via Gaz2.950   1/27/2029   USD   67.936
Region Wallonne Belg1.250   6/22/2071   EUR   47.571
Ukraine Government I7.253   3/15/2035   USD   16.958
Region de Bruxelles-1.500   6/22/2070   EUR   48.192
LBI ehf             6.100   8/25/2011   USD   10.166
Turkiye Is Bankasi A8.100   12/3/2029   USD   74.019
New World Resources 8.000   4/7/2020    EUR   0.098
BNG Bank NV         1.550   2/19/2032   AUD   74.309
Ukraine Government I9.750   11/1/2030   USD   18.333
Joh Friedrich Behren6.250   6/18/2024   EUR   29.911
Tinkoff Bank JSC Via6.000               USD   41.669
Nykredit Realkredit 0.500   10/1/2050   DKK   65.417
WD Invest Sarl      1.900   10/2/2024   EUR   11.500
Saltaire Finance PLC1.527   11/23/2051  GBP   50.215
Muenchener Hypotheke0.010   11/2/2040   EUR   54.801
Norwegian Air Shuttl6.510               NOK   70.500
Stobart Finance PLC 2.750   5/8/2024    GBP   71.841
ABN AMRO Bank NV    0.400   9/17/2041   EUR   57.736
Citizen Treasury PLC3.250   10/20/2048  GBP   71.340
Malta Government Bon1.800   8/28/2051   EUR   59.315
Orpea SA            2.300   3/6/2025    EUR   26.909
Credit Agricole SA  1.400   7/28/2031   EUR   74.747
Canary Wharf Group I3.375   4/23/2028   GBP   74.365
Onward Homes Ltd    2.125   3/25/2053   GBP   52.481
DZ Bank AG Deutsche 0.530   7/26/2033   EUR   66.673
European Financial S1.200   2/17/2045   EUR   66.199
Nederlandse Watersch0.500   4/26/2051   EUR   47.786
Cirio Finanziaria Sp8.000   12/21/2005  EUR   0.478
BNG Bank NV         0.250   11/22/2036  EUR   64.912
SRV Group Oyj       4.875               EUR   52.000
Kleopatra Holdings 26.500   9/1/2026    EUR   58.625
Parnassia Groep BV  1.200   12/1/2051   EUR   62.925
Kommunekredit       0.125   9/26/2040   EUR   56.536
Anglo American Capit3.950   9/10/2050   USD   74.479
BNG Bank NV         0.875   10/17/2035  EUR   74.100
Jyske Realkredit A/S0.500   10/1/2050   DKK   67.536
Russian Foreign Bond7.500   3/31/2030   USD   65.210
Deutsche Bahn Financ3.350   1/20/2042   AUD   73.551
State of North Rhine1.000   10/16/2046  EUR   61.646
Catalyst Housing Ltd3.125   10/31/2047  GBP   66.828
Free State of Bavari0.010   1/18/2035   EUR   67.816
Autonomous Community2.965   9/8/2039    JPY   65.113
Landwirtschaftliche 0.625   10/31/2036  EUR   70.228
AXA Bank Europe SCF 0.250   6/9/2040    EUR   57.598
City of Munich Germa0.250   11/18/2032  EUR   73.299
European Financial S0.875   4/10/2035   EUR   74.807
Autonomous Community1.515   6/21/2051   EUR   54.165
Zurich Finance Irela1.600   12/17/2052  EUR   69.985
Alitalia-Societa Aer5.250   7/30/2020   EUR   0.334
London & Quadrant Ho3.125   2/28/2053   GBP   63.911
Espirito Santo Finan9.750   12/19/2025  EUR   0.622
Region de Bruxelles-0.064   2/25/2031   EUR   75.676
ESFIL-Espirito Santo5.250   6/12/2015   EUR   0.111
Stonewater Funding P1.625   9/10/2036   GBP   65.810
Barclays Bank PLC   1.750   9/29/2032   USD   69.674
Lukoil Capital DAC  3.600   10/26/2031  USD   69.866
State of Schleswig-H0.200   8/15/2039   EUR   59.816
Societe Du Grand Par1.700   5/25/2050   EUR   63.742
Realkredit Danmark A0.500   10/1/2050   DKK   65.444
Nestle Finance Inter0.375   12/3/2040   EUR   56.867
Annington Funding PL2.308   10/6/2032   GBP   72.164
MHP Lux SA          6.950   4/3/2026    USD   49.562
Russian Foreign Bond5.100   3/28/2035   USD   41.165
Northern Powergrid Y2.250   10/9/2059   GBP   53.059
DLR Kredit A/S      1.000   10/1/2050   DKK   72.970
Suek Securities DAC 3.375   9/15/2026   USD   30.000
Iberdrola Finanzas S1.000   2/2/2037    EUR   67.760
Schlumberger Finance0.500   10/15/2031  EUR   74.801
Muenchener Hypotheke0.250   3/29/2041   CHF   71.074
Lehman Brothers UK C5.750               EUR   7.000
Heimstaden Bostad AB2.800   5/4/2035    EUR   65.735
Development Bank of 6.750   5/2/2024    USD   41.240
BNG Bank NV         0.875   10/24/2036  EUR   72.391
Banco Espirito Santo7.125   11/28/2023  EUR   0.329
Single Platform Inve4.020   7/1/2052    EUR   59.208
Manchester Airport G2.875   3/31/2039   GBP   70.694
Banco Santander SA  4.390               EUR   0.272
Intesa Sanpaolo SpA 1.400   2/8/2031    GBP   69.650
Peabody Capital No 23.250   9/14/2048   GBP   68.434
Petrobras Global Fin4.750   4/2/2038    EUR   52.883
Blend Funding PLC   3.508   5/4/2057    GBP   69.146
Agence France Locale2.550   3/20/2036   AUD   72.013
Lehman Brothers UK C6.900               USD   3.986
MVM Energetika Zrt  3.250   9/3/2031    HUF   65.000
State of Lower Saxon0.050   3/9/2035    EUR   67.470
Raiffeisenbank AS   0.700   11/15/2031  EUR   73.006
Raiffeisenbank Bulga6.310               EUR   73.967
Alpine Holding GmbH 6.000   5/22/2017   EUR   0.514
Cellnex Finance Co S3.875   7/7/2041    USD   72.111
Mediobanca Banca di 0.010   2/3/2031    EUR   74.101
Land Thueringen     0.125   1/13/2051   EUR   42.170
Credit Suisse Group 4.875   5/15/2045   USD   72.521
Stichting Afwikkelin6.625   5/14/2018   EUR   43.625
DWR Cymru Financing 1.375   3/31/2033   GBP   71.955
de Volksbank NV     0.125   11/19/2040  EUR   55.423
Bromford Housing Gro2.554   3/17/2054   GBP   56.519
Sovcombank Via SovCo7.600               USD   2.350
Vilogia SA d'HLM    1.500   8/7/2034    EUR   72.658
ING Bank NV         0.182   4/21/2033   EUR   72.353
Landesbank Hessen-Th0.500   1/19/2037   EUR   67.939
Platform HG Financin1.625   8/10/2055   GBP   45.295
Pierre Et Vacances S2.000   4/1/2023    EUR   28.654
Phosagro OAO Via Pho3.050   1/23/2025   USD   73.272
Agrokor dd          9.875   5/1/2019    EUR   15.000
Region Wallonne Belg1.130   3/28/2036   EUR   72.116
Alfa Bank AO Via Alf5.500   10/26/2031  USD   3.443
Signa Development Fi5.500   7/23/2026   EUR   68.363
Mallinckrodt Interna10.000  4/15/2025   USD   68.973
Eastern Power Networ1.875   6/1/2035    GBP   70.305
European Financial S1.750   7/17/2053   EUR   67.906
Credit Suisse AG/Lon1.250   2/22/2029   USD   71.937
Prs Finance PLC     1.500   8/24/2034   GBP   72.465
Aeroports de la Cote2.500   7/9/2036    EUR   73.176
Nykredit Realkredit 0.500   10/1/2053   DKK   63.317
Nostrum Oil & Gas Fi7.000   2/16/2025   USD   26.220
Banco Santander SA  0.100   2/27/2032   EUR   72.589
Ahtium PLC          4.000   12/16/2015  EUR   0.586
Romanian Government 2.750   4/14/2041   EUR   57.036
Metinvest BV        8.500   4/23/2026   USD   54.757
Muenchener Hypotheke0.010   10/19/2039  EUR   56.602
Realkredit Danmark A1.500   10/1/2050   DKK   72.876
Republic of Belarus 5.875   2/24/2026   USD   42.137
Credit Suisse AG/Lon20.000  11/29/2024  USD   11.767
Ukraine Government I7.750   9/1/2027    USD   18.169
Russian Foreign Bond5.250   6/23/2047   USD   40.900
Gazprom PJSC via Gaz1.500   2/17/2027   EUR   66.827
KTG Agrar SE        7.250   10/15/2019  EUR   2.002
Privatbank CJSC Via 10.875  2/28/2018   USD   6.722
Deutsche Lichtmiete 5.750   1/1/2023    EUR   2.500
Ukraine Government I7.750   9/1/2024    USD   22.658
Hidrovias Internatio4.950   2/8/2031    USD   70.424
Canton of St Gallen 0.200   11/28/2041  CHF   72.689
British Telecommunic1.774   6/25/2042   GBP   74.023
Mallinckrodt Interna10.000  6/15/2029   USD   54.000
Air Berlin PLC      5.625   5/9/2019    CHF   0.335
Land Berlin         0.125   11/24/2045  EUR   48.675
Intesa Sanpaolo SpA 2.500   10/14/2031  USD   72.049
Autonomous Region of1.095   9/27/2036   EUR   66.244
Bausparkasse Schwaeb0.200   4/27/2033   EUR   72.801
Holcim US Finance Lu2.240   10/15/2031  USD   74.277
Akademiska Hus AB   0.650   2/8/2044    CHF   74.646
Agence Francaise de 0.375   5/25/2036   EUR   64.949
GN Store Nord AS    1.970   3/3/2036    EUR   71.713
LiveWest Treasury PL1.875   2/18/2056   GBP   48.906
SABIC Capital I BV  3.000   9/14/2050   USD   71.272
Societe Generale SA 8.000   11/30/2032  USD   71.000
LIB-Landesimmobilien0.620   7/15/2041   EUR   60.149
Assa Abloy AB       0.650   8/28/2034   EUR   69.405
RHP Finance PLC     3.250   2/5/2048    GBP   72.582
Aggregate Holdings S5.500   5/17/2024   EUR   37.796
Banco Espirito Santo6.900   6/28/2024   EUR   19.340
Deutsche Lichtmiete 5.250   2/1/2027    EUR   3.550
Orpea SA            3.144   12/22/2025  EUR   26.950
Cadent Finance PLC  3.125   3/21/2040   GBP   69.879
Nordea Kredit Realkr0.500   10/1/2043   DKK   74.386
Mobile Telesystems O5.000   5/30/2023   USD   27.699
Land Baden-Wuerttemb0.010   7/9/2032    EUR   74.034
SNCF Reseau         0.750   5/25/2036   EUR   68.856
Rallye SA           1.000   2/28/2032   EUR   3.407
Realkredit Danmark A0.500   10/1/2053   DKK   65.259
Wessex Water Service1.250   1/12/2036   GBP   60.651
Nestle Finance Inter0.625   2/14/2034   EUR   72.527
State of Lower Saxon0.250   4/15/2036   EUR   66.954
Jyske Realkredit A/S1.500   10/1/2053   DKK   70.454
Luzerner Kantonalban0.150   10/7/2044   CHF   65.217
MFB Magyar Fejleszte4.200   4/20/2033   HUF   67.286
Ile-de-France Mobili0.675   11/24/2036  EUR   67.090
Deutsche Telekom AG 3.625   1/21/2050   USD   74.710
EDOB Abwicklungs AG 7.500   4/1/2012    EUR   1.537
Nordea Kredit Realkr0.500   10/1/2050   DKK   65.578
Cirio Finance Luxemb7.500   11/3/2002   EUR   2.530
Herens Midco Sarl   5.250   5/15/2029   EUR   68.542
Standard Profil Auto6.250   4/30/2026   EUR   61.800
Ministeries Van de V0.125   10/15/2035  EUR   64.200
Raiffeisenlandesbank0.500   1/22/2035   EUR   69.768
Free State of Saxony0.400   5/12/2036   EUR   68.407
Motability Operation1.500   1/20/2041   GBP   57.610
Credit Agricole Corp1.550   9/8/2031    AUD   71.431
State of North Rhine0.375   9/2/2050    EUR   46.927
Nationale-Nederlande0.050   9/24/2035   EUR   64.910
Norwegian Air Shuttl6.510               NOK   70.500
Veneto Banca SpA    9.878   12/1/2025   EUR   0.054
Credit Suisse Intern9.500   3/24/2026   UAH   44.660
Intesa Sanpaolo SpA 2.700   3/29/2031   USD   73.875
Sveriges Sakerstalld0.750   6/9/2032    SEK   75.086
Evraz PLC           5.250   4/2/2024    USD   52.987
State of Hesse      0.750   8/4/2036    EUR   71.564
BPCE SFH SA         0.500   1/23/2035   EUR   70.196
Ukraine Government I7.750   9/1/2025    USD   20.411
Luzerner Kantonalban0.160   12/23/2043  CHF   66.793
Realkredit Danmark A1.500   10/1/2053   DKK   66.638
Credit Agricole Publ0.125   12/8/2031   EUR   74.756
Midland Heart Capita1.831   8/12/2050   GBP   50.486
Cooperatieve Raboban0.010   11/27/2040  EUR   54.242
Norske Skogindustrie2.000   12/30/2115  EUR   0.113
Cooperatieve Raboban0.500   10/29/2027  MXN   61.113
Region Occitanie    1.109   3/7/2035    EUR   73.534
Banca Popolare di Vi9.500   9/29/2025   EUR   0.380
FF Group Finance Lux3.250   11/2/2021   CHF   5.604
Credit Agricole Ital0.125   3/15/2033   EUR   68.408
Salerno Pompei Napol2.800   1/19/2045   EUR   67.656
Republic of Ireland 0.740   11/27/2120  EUR   26.451
Republic of Poland G1.750   4/25/2032   PLN   68.022
Region de Bruxelles-0.274   12/11/2040  EUR   52.909
National Grid Electr0.010   3/26/2036   GBP   74.820
Espirito Santo Finan3.125   12/2/2018   EUR   0.622
NAK Naftogaz Ukraine7.625   11/8/2026   USD   18.904
Muenchener Hypotheke0.125   9/5/2035    EUR   66.590
Ukraine Government I7.750   9/1/2028    USD   18.167
Nykredit Realkredit 1.500   10/1/2053   DKK   66.734
Jain International T7.125   2/1/2022    USD   21.798
A-TEC Industries AG 8.750   10/27/2014  EUR   0.100
Cooperatieve Raboban0.500   10/30/2043  MXN   11.615
Cirio Del Monte NV  7.750   3/14/2005   EUR   0.285
Siemens Financiering2.875   3/11/2041   USD   74.558
Transports Publics D0.450   12/29/2056  CHF   59.600
Ministeries Van de V1.500   4/11/2044   EUR   66.581
Jyske Realkredit A/S2.000   10/1/2053   DKK   74.275
Magyar Export-Import2.000   10/27/2027  HUF   65.399
Quintet Private Bank3.650   11/13/2023  EUR   4.460
Ministeries Van de V1.000   10/13/2036  EUR   71.152
MHP Lux SA          6.250   9/19/2029   USD   47.691
Standard Chartered B3.000   4/30/2036   AUD   70.628
British Telecommunic3.924   6/25/2042   GBP   70.519
Ukraine Government I7.375   9/25/2034   USD   16.710
Heimstaden Bostad AB2.800   5/4/2035    EUR   66.238
Metinvest BV        7.650   10/1/2027   USD   53.306
Solon SE            1.375   12/6/2012   EUR   0.745
Free and Hanseatic C0.010   11/5/2035   EUR   65.576
State of Rhineland-P0.375   3/10/2051   EUR   46.604
Caisse Francaise de 0.500   10/1/2046   EUR   52.677
Polski Fundusz Rozwo2.000   3/5/2030    PLN   71.376
Republic of Belarus 6.378   2/24/2031   USD   33.675
National Grid Electr1.625   10/7/2035   GBP   65.710
Credit Bank of Mosco4.700   1/29/2025   USD   25.835
Cooperatieve Raboban0.500   7/30/2043   MXN   13.176
Abengoa Abenewco 2 B1.500   4/26/2024   USD   0.570
GN Store Nord AS    3.200   11/26/2036  GBP   71.724
Telenor ASA         0.875   2/14/2035   EUR   69.994
State of Saxony-Anha0.500   3/24/2051   EUR   49.125
Aroundtown SA       3.250   11/12/2032  EUR   62.326
Kernel Holding SA   6.500   10/17/2024  USD   48.360
Prosus NV           4.027   8/3/2050    USD   62.983
Deutsche Bank AG    1.750   10/30/2028  USD   73.840
Romania Government B3.650   9/24/2031   RON   74.899
Credit Bank of Mosco3.875   9/21/2026   USD   30.480
Region de Bruxelles-0.765   7/15/2052   EUR   45.715
Region de Bruxelles-1.220   6/23/2053   EUR   54.667
BNG Bank NV         0.010   10/5/2032   EUR   72.721
Irish Bank Resolutio0.566   6/21/2016   EUR   0.679
Canton of Geneva Swi0.600   7/4/2046    CHF   73.855
Grand City Propertie2.000   10/25/2032  EUR   68.063
Stichting Afwikkelin5.143               EUR   46.000
Societe Du Grand Par0.875   5/10/2046   EUR   54.164
Interpipe Holdings P8.375   5/13/2026   USD   47.250
Landwirtschaftliche 0.010   11/26/2040  EUR   55.544
National Grid Electr1.608   8/24/2040   GBP   46.761
Ile-de-France Mobili1.275   2/14/2042   EUR   65.210
Offshore Drilling Ho8.375   9/20/2020   USD   2.689
Serbia International2.125   12/1/2030   USD   73.799
Incommunities Treasu3.250   3/21/2049   GBP   72.058
SES SA              5.300   4/4/2043    USD   74.841
SCF Capital Designat5.375   6/16/2023   USD   20.278
Credit Agricole Home1.500   9/28/2038   EUR   75.047
Paradigm Homes Chari2.250   5/20/2051   GBP   56.779
Pfandbriefbank schwe0.375   9/23/2043   CHF   70.965
Deutsche Bank AG    1.580   10/23/2031  EUR   74.251
Orange SA           1.200   7/11/2034   EUR   71.946
Bayerische Landesban1.550   2/13/2040   EUR   53.559
Havenbedrijf Rotterd1.100   3/23/2051   EUR   58.024
State of Bremen     0.450   2/24/2051   EUR   47.581
Aroundtown SA       2.970   9/26/2033   EUR   58.033
Eurogrid GmbH       0.875   11/20/2040  EUR   61.319
Takarek Mortgage Ban3.000   10/22/2031  HUF   63.600
Alpine Holding GmbH 5.250   7/1/2015    EUR   0.514
Serbia International2.050   9/23/2036   EUR   58.655
State of North Rhine0.500   11/25/2039  EUR   62.670
Russian Foreign Bond5.875   9/16/2043   USD   60.762
CBo Territoria      3.750   7/1/2024    EUR   4.700
Dexia SA            4.292               EUR   2.874
Realkredit Danmark A2.000   10/1/2053   DKK   74.307
European Financial S1.450   9/5/2040    EUR   73.815
Raiffeisen-Landesban0.500   5/27/2041   EUR   58.623
Credit Suisse Group 4.875   5/15/2045   USD   72.528
Ukraine Government I11.670  11/22/2023  UAH   79.672
Hungary Government B4.750   11/24/2032  HUF   74.298
Schoeller Packaging 6.375   11/1/2024   EUR   72.137
Department of L'Eure0.515   5/25/2040   EUR   58.142
Havila Shipping ASA 7.010   1/2/2025    NOK   40.000
Niedersachsen Invest0.250   7/16/2035   EUR   68.810
City of Zurich Switz0.400   11/21/2046  CHF   70.457
Free and Hanseatic C0.250   2/18/2041   EUR   57.655
Master & Fellows of 3.068   4/28/2065   GBP   58.319
Romanian Government 3.375   1/28/2050   EUR   58.334
Erilia SA           1.570   2/25/2038   EUR   74.671
Serbia International1.500   6/26/2029   EUR   74.507
Romanian Government 3.875   10/29/2035  EUR   74.637
State of Saarland   0.050   11/5/2040   EUR   55.785
Land Berlin         0.125   6/4/2035    EUR   67.590
Banco Espirito Santo5.679               EUR   0.295
Ministeries Van de V1.863   2/28/2048   EUR   65.663
Takarek Mortgage Ban2.600   10/22/2028  HUF   69.500
Takarek Mortgage Ban3.000   1/28/2036   HUF   55.500
Republic of Ireland 0.995   2/24/2121   EUR   34.674
Muenchener Hypotheke1.420   4/20/2038   EUR   73.632
State of North Rhine0.800   7/30/2049   EUR   55.409
DekaBank Deutsche Gi1.100   11/25/2030  EUR   71.753
Hungary Government I3.125   9/21/2051   USD   60.129
Credit Suisse AG/Lon2.600   1/27/2032   USD   68.032
Nykredit Realkredit 1.000   10/1/2050   DKK   67.058
Gazprom PJSC via Gaz1.850   11/17/2028  EUR   59.690
State Agency of Road6.250   6/24/2030   USD   17.325
Region Wallonne Belg0.500   6/22/2037   EUR   63.206
Banco Santander SA  1.000   10/1/2033   EUR   71.369
Nederlandse Gasunie 0.750   10/13/2036  EUR   64.573
Malta Government Bon1.400   8/20/2046   EUR   59.154
Clarion Funding PLC 1.250   11/13/2032  GBP   70.017
Landesbank Hessen-Th1.383   3/28/2042   EUR   70.645
FNG Benelux Holding 5.000   8/28/2023   EUR   1.000
DZ Bank AG Deutsche 1.576   7/22/2030   EUR   74.055
Credit Suisse AG/Lon2.300   9/24/2031   USD   67.142
Evraz PLC           5.375   3/20/2023   USD   49.442
Abengoa Abenewco 2 S1.500   10/26/2024  USD   1.113
NRW Bank            0.500   6/17/2041   EUR   60.786
VST Building Technol7.000   6/28/2024   EUR   0.231
Canton of Geneva Swi0.250   6/15/2040   CHF   73.764
Ukraine Government I7.750   9/1/2029    USD   18.333
Russian Foreign Bond4.750   5/27/2026   USD   43.608
Free and Hanseatic C0.200   9/3/2049    EUR   45.258
Kommunekredit       0.875   11/3/2036   EUR   71.975
Nomura Bank Internat1.450   12/10/2041  EUR   61.742
Free State of Saxony0.010   12/17/2035  EUR   65.359
Free State of Bavari0.010   3/28/2036   EUR   64.675
UniCredit Bank Austr0.050   9/21/2035   EUR   64.675
Kommunekredit       0.500   7/30/2027   TRY   30.196
Hospices Civils de L0.597   11/24/2031  EUR   72.234
Abengoa Abenewco 2 S1.500   10/26/2024  USD   0.813
EOS Imaging SA      6.000   5/31/2023   EUR   7.250
Raiffeisen Bank Inte0.700   12/6/2029   EUR   74.209
Russian Foreign Bond4.375   3/21/2029   USD   41.485
Single Platform Inve1.220   8/24/2047   EUR   58.802
Ile-de-France Mobili0.950   5/28/2041   EUR   62.165
Grand Delta Habitat 1.285   11/6/2040   EUR   63.022
ESB Finance DAC     1.875   7/21/2035   GBP   70.717
LSEGA Financing PLC 3.200   4/6/2041    USD   75.190
Motability Operation2.375   7/3/2039    GBP   69.751
BPCE SA             4.979               EUR   68.610
Penarian Housing Fin3.212   6/7/2052    GBP   69.971
Nordea Kredit Realkr0.500   10/1/2053   DKK   65.460
State of North Rhine1.960   1/24/2079   EUR   66.587
Autonomous Community1.655   10/31/2050  EUR   58.616
PJSC Koks via IMH Ca5.900   9/23/2025   USD   7.825
Ville de Paris      0.450   10/20/2045  EUR   49.964
Comunidad Foral de N1.800   3/25/2042   EUR   69.223
City of Lausanne Swi0.540   11/6/2062   CHF   49.882
Altice France Holdin4.000   2/15/2028   EUR   68.182
Achmea Bank NV      0.250   9/29/2036   EUR   65.181
Caisse Francaise de 0.375   2/13/2040   EUR   59.226
Optivo Finance PLC  3.283   3/22/2048   GBP   68.760
Celtic Resources Hol4.125   10/9/2024   USD   12.324
Land Berlin         0.625   8/25/2036   EUR   69.987
Bank Nadra Via NDR F8.250   7/31/2018   USD   0.208
Italy Buoni Polienna2.150   9/1/2052    EUR   61.559
Pershing Square Hold3.000   7/15/2032   USD   73.164
Paragon Treasury Plc2.000   5/7/2036    GBP   68.965
Pfandbriefbank schwe0.250   10/6/2042   CHF   70.005
Ministeries Van de V1.000   1/23/2051   EUR   52.837
Foodco Bondco SA    6.250   5/15/2026   EUR   43.734
Privatbank CJSC Via 11.000  2/9/2021    USD   1.000
Batigere Grand Est S1.500   12/15/2051  EUR   59.131
ABN AMRO Bank NV    0.375   1/14/2035   EUR   69.980
UniCredit Bank Austr0.150   4/29/2033   EUR   70.281
Serbia International1.650   3/3/2033    EUR   64.061
Solarworld AG       9.691   2/24/2019   EUR   14.875
Barclays Bank PLC   5.000   11/1/2029   BRL   61.071
EVN AG              0.850   10/15/2035  EUR   66.428
Region de Bruxelles-1.500   4/5/2037    EUR   74.833
Pfandbriefbank schwe0.250   5/17/2040   CHF   72.606
Banque Cantonale de 0.100   11/1/2044   CHF   63.148
Kommunekredit       0.625   11/21/2039  EUR   64.884
Pershing Square Hold3.000   7/15/2032   USD   73.164
Nestle Hungaria Kft 1.750   5/31/2028   HUF   69.500
Sibur Securities DAC2.950   7/8/2025    USD   68.370
Romanian Government 4.000   2/14/2051   USD   69.011
Ministeries Van de V1.875   6/2/2042    EUR   73.666
Societe Generale SA 2.000   1/30/2036   USD   60.764
MFB Magyar Fejleszte4.600   10/24/2029  HUF   74.345
NRW Bank            0.420   2/8/2039    EUR   63.140
Kingdom of Belgium G1.400   6/22/2053   EUR   60.415
NRW Bank            1.200   3/28/2039   EUR   72.045
Ukraine Government I8.994   2/1/2026    USD   18.606
Single Platform Inve1.448   7/25/2053   EUR   60.631
Republic of Ireland 1.425   9/18/2119   EUR   47.114
Magyar Export-Import2.500   5/23/2029   HUF   66.928
Russian Foreign Bond2.875   12/4/2025   EUR   39.464
Borets Finance DAC  6.000   9/17/2026   USD   42.913
JAB Holdings BV     4.500   4/8/2052    USD   74.031
Prosus NV           2.778   1/19/2034   EUR   72.218
State of Bremen     0.500   5/6/2041    EUR   60.163
Ministeries Van de V1.500   7/12/2038   EUR   73.606
Societe Generale SA 11.000  6/15/2035   USD   67.450
VTB Bank OJSC Via VT6.250   6/30/2035   USD   22.822
ALROSA Finance SA   4.650   4/9/2024    USD   11.457
Norddeutsche Landesb0.900   7/5/2032    EUR   71.095
Region of Centre-Val0.711   11/2/2036   EUR   67.964
Grand City Propertie2.081   8/8/2034    EUR   72.919
Deutsche Wohnen SE  2.000   3/28/2034   EUR   68.727
Gemeente Bergen OP Z0.440   9/20/2044   EUR   54.708
Novolipetsk Steel Vi1.450   6/2/2026    EUR   68.525
Aegon Bank NV       0.375   6/9/2036    EUR   66.907
Kreditanstalt fuer W1.000   10/19/2050  EUR   59.998
MMK International Ca4.375   6/13/2024   USD   26.437
Ukraine Government I15.840  2/26/2025   UAH   68.986
Haya Holdco 2 PLC   11.698  11/30/2025  EUR   38.681
Republic of Belarus 7.625   6/29/2027   USD   41.846
Credit Suisse AG/Lon2.920   5/8/2034    EUR   66.360
Alfa Bank AO Via Alf5.950   4/15/2030   USD   3.030
Banca Popolare di Vi2.821   12/20/2017  EUR   0.396
Tennor Finance BV   5.750   6/17/2024   EUR   70.000
DZ Bank AG Deutsche 0.180   6/18/2031   EUR   73.616
Transmission Finance2.701   10/16/2037  EUR   73.247
Blend Funding PLC   2.467   6/16/2061   GBP   51.379
Sovcombank Via SovCo7.750               USD   3.379
Gazprom PJSC via Gaz3.897               EUR   52.376
DLR Kredit A/S      1.000   10/1/2050   DKK   68.583
Ramfort GmbH        6.750   3/15/2026   EUR   72.386
Societe Generale SA 10.000  6/28/2034   USD   58.250
Diebold Nixdorf Dutc9.000   7/15/2025   EUR   66.088
LSF9 Balta Issuer SA3.000   12/31/2030  EUR   61.413
British Telecommunic3.883   6/25/2039   GBP   72.976
Finmek International7.000   12/3/2004   EUR   2.193
Abengoa Abenewco 1 S6.000   6/10/2022   EUR   0.434
Muenchener Hypotheke0.250   5/2/2036    EUR   66.246
Southern Housing Gro3.500   10/19/2047  GBP   71.051
DZ Bank AG Deutsche 0.500   2/24/2031   EUR   72.378
State of Brandenburg0.125   1/26/2046   EUR   48.478
Societe Generale SFH0.280   9/14/2032   EUR   74.013
La Banque Postale Ho0.250   2/12/2035   EUR   68.011
Russian Foreign Bond5.625   4/4/2042    USD   63.504
International Financ0.500   6/29/2027   ZAR   67.322
Romanian Government 2.000   4/14/2033   EUR   66.238
Metinvest BV        5.625   6/17/2025   EUR   56.000
Swissgrid AG        0.050   6/30/2050   CHF   51.584
Orbit Capital PLC   3.500   3/24/2045   GBP   73.181
Pfandbriefbank schwe0.500   1/25/2044   CHF   72.796
Kreditanstalt fuer W1.100   9/16/2051   EUR   61.544
Romanian Government 2.000   1/28/2032   EUR   68.985
Transcapitalbank JSC10.000              USD   61.415
BPCE SFH SA         0.375   3/18/2041   EUR   57.768
Ukraine Government I6.876   5/21/2031   USD   16.991
Malta Government Bon1.500   10/22/2045  EUR   59.690
Raiffeisen Landesban0.375   11/13/2034  EUR   69.796
Region de Bruxelles-1.400   3/11/2054   EUR   52.421
Futureal Development4.000   3/23/2031   HUF   64.000
Italy Buoni Polienna0.950   6/1/2032    EUR   74.461
Ideal Standard Inter6.375   7/30/2026   EUR   54.825
HSBC Holdings PLC   0.950   12/9/2032   EUR   73.697
Caisse des Depots et0.398   12/15/2050  EUR   42.008
Credit Agricole SA  4.400   2/24/2042   AUD   65.252
ACCIONA Financiacion3.000   12/2/2039   EUR   72.367
Sidetur Finance BV  10.000  4/20/2016   USD   0.394
Kelag-Kaerntner Elek1.150   4/16/2041   EUR   59.963
St Galler Kantonalba0.100   10/10/2041  CHF   67.672
Grenke Finance PLC  0.819   2/15/2030   EUR   64.994
Ville de Paris      0.831   2/23/2056   EUR   41.905
Free and Hanseatic C0.400   11/23/2051  EUR   46.185
State of Rhineland-P1.500   4/25/2052   EUR   66.442
Hylea Group SA      7.250   12/1/2022   EUR   0.300
DLR Kredit A/S      1.500   10/1/2053   DKK   71.568
Muenchener Hypotheke0.400   8/11/2031   EUR   71.702
Hacienda Investments5.350   2/8/2028    USD   49.980
CDC Habitat SEM     0.853   2/15/2041   EUR   59.940
Region Provence-Alpe1.574   6/8/2037    EUR   74.025
SNCF Reseau         1.500   5/29/2037   EUR   74.938
Del Monte Finance Lu6.625   5/24/2006   EUR   1.000
Land Thueringen     0.100   7/9/2035    EUR   67.101
Luzerner Kantonalban0.250   8/28/2040   CHF   71.376
City of Lausanne Swi0.600   11/30/2056  CHF   58.100
Alpine Holding GmbH 5.250   6/10/2016   EUR   0.514
La Banque Postale Ho0.640   1/27/2042   EUR   62.868
Region Wallonne Belg1.600   3/29/2039   EUR   71.171
Sibur Securities DAC3.450   9/23/2024   USD   62.081
Sibur Securities DAC4.125   10/5/2023   USD   62.597
Channel Link Enterpr3.848   6/30/2050   GBP   67.499
Nordea Kredit Realkr2.000   10/1/2053   DKK   74.272
Raiffeisenlandesbank0.375   1/15/2035   EUR   68.539
Region Wallonne Belg1.865   5/10/2051   EUR   64.656
HYPO NOE Landesbank 1.605   8/23/2046   EUR   69.931
Affinity Water Finan0.230   11/22/2042  GBP   67.922
Credit Agricole Ital1.750   1/15/2038   EUR   74.563
Region de Bruxelles-0.592   12/10/2061  EUR   34.093
Norske Skog Holding 8.000   2/24/2021   EUR   0.006
Sanctuary Capital PL2.481   11/12/2037  GBP   70.639
Sberbank of Russia V5.125   10/29/2022  USD   32.667
Communaute Francaise1.040   7/19/2101   EUR   42.043
HSE Finance Sarl    5.625   10/15/2026  EUR   51.500
Credit Agricole Ital1.000   1/17/2045   EUR   57.298
Island Offshore Ship5.680   6/30/2024   NOK   30.000
Orbit Capital PLC   3.375   6/14/2048   GBP   69.921
Kreditanstalt fuer W0.890   3/10/2041   EUR   66.559
Compact Bidco BV    5.750   5/1/2026    EUR   74.946
Realkredit Danmark A0.500   10/1/2043   DKK   74.224
State of Rhineland-P0.375   7/20/2048   EUR   47.571
Portugal Telecom Int6.250   7/26/2016   EUR   0.285
Societe Generale SA 25.260  10/30/2025  USD   14.540
Windreich GmbH      6.500   7/15/2016   EUR   2.780
Romanian Government 3.500   4/3/2034    EUR   74.183
Region of Pays de la0.877   10/28/2041  EUR   62.371
Endo Luxembourg Fina6.125   4/1/2029    USD   74.500
Severstal OAO Via St3.150   9/16/2024   USD   4.564
Land Thueringen     0.200   9/12/2039   EUR   59.618
AXA Home Loan SFH SA0.125   6/25/2035   EUR   66.055
HSE Finance Sarl    8.404   10/15/2026  EUR   53.889
Land Baden-Wuerttemb0.125   11/19/2040  EUR   56.444
Spain Government Bon1.900   10/31/2052  EUR   63.010
Region Wallonne Belg1.000   9/16/2059   EUR   42.624
Jyske Realkredit A/S1.500   10/1/2053   DKK   66.723
Thames Water Utiliti2.060   11/12/2030  USD   74.090
Bank of Valletta PLC3.750   6/15/2031   EUR   71.288
Nationwide Building 0.485   7/11/2044   CHF   69.471
State of Bremen     1.000   5/27/2039   EUR   69.450
Jyske Realkredit A/S0.500   10/1/2050   DKK   65.462
Abengoa Abenewco 1 S6.000   6/10/2022   EUR   0.434
Sairgroup Finance BV4.375   6/8/2006    EUR   1.964
Kantonsspital St Gal0.300   9/30/2036   CHF   73.557
Credit Suisse AG/Lon3.200   3/24/2032   USD   70.498
State of Bremen     0.150   9/14/2040   EUR   56.639
Joh Friedrich Behren7.750   11/11/2020  EUR   30.050
Republic of Ireland 2.045   3/22/2075   EUR   70.961
Bayerische Landesban1.850   3/5/2031    EUR   72.651
DZ Bank AG Deutsche 1.055   3/11/2031   EUR   70.310
Bellis Finco PLC    4.000   2/16/2027   GBP   70.854
La Financiere Atalia6.625   5/15/2025   GBP   67.585
UBS AG/London       6.380   6/7/2023    USD   9.690
Assistance Publique 1.099   4/6/2071    EUR   38.457
Credit Suisse AG/Lon5.100   6/8/2041    USD   71.803
State of North Rhine1.850   3/18/2089   EUR   56.384
Romanian Government 4.625   4/3/2049    EUR   72.487
Norwegian Air Shuttl7.500   11/10/2023  USD   73.375
City of Lausanne Swi0.050   9/28/2054   CHF   47.881
BASF SE             1.025   8/13/2048   JPY   68.997
Frigoglass Finance B6.875   2/12/2025   EUR   27.989
Nederlandse Watersch1.900   1/31/2035   AUD   69.590
Landesbank Hessen-Th9.968   11/16/2033  EUR   71.200
Kuntarahoitus Oyj   0.940   6/9/2064    EUR   58.705
ESB Finance DAC     2.000   4/17/2044   EUR   67.446
Autonomous Community2.300   5/24/2049   EUR   68.389
Credit Bank of Mosco7.500   10/5/2027   USD   20.563
Pfandbriefbank schwe0.250   3/15/2041   CHF   71.616
Land Berlin         0.050   8/6/2040    EUR   55.639
SAir Group          0.125   7/7/2005    CHF   11.375
Orbit Capital PLC   2.000   11/24/2038  GBP   63.651
Credit Suisse AG/Lon11.500  9/25/2023   CHF   55.240
Jyske Realkredit A/S1.000   10/1/2053   DKK   60.265
Eurochem Finance DAC5.500   3/13/2024   USD   58.469
JAB Holdings BV     3.750   5/28/2051   USD   64.818
Ile-de-France Mobili0.200   11/16/2035  EUR   64.659
Ville de Paris      0.650   11/25/2070  EUR   33.170
Societe Generale SA 26.640  10/30/2025  USD   8.000
German Pellets GmbH 7.250   7/9/2018    EUR   1.507
State of Bremen     0.102   2/7/2033    EUR   72.853
Kommunekredit       0.010   5/4/2034    EUR   68.703
Kreditanstalt fuer W0.980   2/9/2042    EUR   67.772
Bpifrance SACA      1.046   5/25/2050   EUR   52.539
Region de Bruxelles-1.100   6/22/2066   EUR   45.666
Unibail-Rodamco-West2.000   12/5/2033   EUR   70.836
State of Saarland   1.108   5/18/2046   EUR   63.444
Phosagro OAO Via Pho2.600   9/16/2028   USD   55.500
Sovcombank Via SovCo3.400   1/26/2025   USD   2.185
Nobel Bidco BV      3.125   6/15/2028   EUR   69.917
Deutsche Bahn Financ1.850   11/23/2043  EUR   69.681
Wrekin Housing Group2.500   10/22/2048  GBP   59.578
Laboratoire Eimer Se5.000   2/1/2029    EUR   72.489
Northern Electric Fi2.750   5/24/2049   GBP   64.732
Walliser Kantonalban0.010   3/12/2035   CHF   74.588
DNB Bank ASA        1.185   1/14/2038   EUR   66.663
Finance and Credit B9.250   1/25/2019   USD   0.001
City of Bern Switzer0.040   10/2/2070   CHF   41.939
Wingholding Zrt     3.500   5/20/2030   HUF   72.220
Bulgaria Steel Finan12.000  5/4/2013    EUR   0.216
State of Brandenburg0.750   8/8/2036    EUR   71.425
NRW Bank            1.150   9/16/2051   EUR   61.922
Assistance Publique 1.750   11/27/2041  EUR   71.530
Region of Ile de Fra0.610   7/2/2040    EUR   59.407
Region de Bruxelles-0.562   12/23/2065  EUR   29.017
Canton of Geneva Swi0.500   10/31/2056  CHF   63.682
Dtek Renewables Fina8.500   11/12/2024  EUR   40.076
Caisse Francaise de 0.010   10/19/2035  EUR   63.735
DekaBank Deutsche Gi0.400   1/29/2035   EUR   70.896
Virgolino de Oliveir10.500  1/28/2018   USD   0.809
OGX Austria GmbH    8.500   6/1/2018    USD   0.486
Deutsche Telekom AG 3.500   4/15/2041   AUD   70.696
Deutsche Pfandbriefb3.100   9/7/2046    USD   68.094
UniCredit Bank AG   0.010   1/21/2036   EUR   64.542
Societe Nationale SN1.280   3/27/2120   EUR   32.714
MMB SCF SACA        0.010   9/20/2031   EUR   74.052
SNCF Reseau         0.350   7/25/2047   EUR   73.992
State of Brandenburg0.500   11/21/2039  EUR   62.855
Caisse Francaise de 0.625   1/20/2042   EUR   59.862
Elecnor SA          3.025   9/30/2035   EUR   74.751
Nordea Kredit Realkr1.500   10/1/2050   DKK   72.895
Canton of Geneva Swi0.050   8/27/2041   CHF   69.263
Ukraine Government I7.375   9/25/2034   USD   16.747
Societe Generale SA 3.920   12/9/2036   AUD   70.412
Concessio Estacions 3.520   12/31/2037  EUR   74.893
German Pellets GmbH 7.250   11/27/2019  EUR   1.507
Norske Skog Holding 8.000   2/24/2021   EUR   0.006
Corporate Commercial8.250   8/8/2014    USD   0.308
Societe Generale SA 8.760   9/5/2025    USD   73.000
Hemso Fastighets AB 2.615   11/30/2043  EUR   69.458
Nykredit Realkredit 1.000   10/1/2050   DKK   70.097
Muenchener Hypotheke0.550   2/18/2046   CHF   61.710
Credit Agricole SA  3.750   6/9/2040    AUD   67.476
Elia Transmission Be1.560   1/30/2044   EUR   71.026
Ukraine Government I9.790   5/26/2027   UAH   52.185
Landesbank Baden-Wue4.984   1/30/2034   EUR   70.710
Kuntarahoitus Oyj   1.200   7/21/2061   EUR   59.579
French Republic Gove0.750   5/25/2053   EUR   50.201
Raiffeisen Landesban0.250   3/4/2036    EUR   65.477
Morhomes PLC        2.508   2/19/2051   GBP   56.665
Land Baden-Wuerttemb1.125   7/25/2036   EUR   74.758
Agence Metropolitain0.750   5/25/2034   EUR   73.870
Region of Pays de la1.200   3/15/2035   EUR   74.260
Norddeutsche Landesb1.560   10/20/2038  EUR   64.850
Ukraine Government B19.750  5/21/2025   UAH   72.716
Republic of Ireland 0.835   7/8/2080    EUR   38.711
Basque Government   1.300   4/30/2035   EUR   73.894
Deutsche Bank AG    0.710   9/24/2031   EUR   70.734
Kommunekredit       0.375   2/3/2045    DKK   53.157
Romanian Government 3.375   2/8/2038    EUR   67.907
Cordia International3.000   7/27/2030   HUF   62.000
Stelius Befektetoe Z3.100   9/17/2030   HUF   66.500
Senivita Social Esta6.500   5/12/2025   EUR   3.530
DekaBank Deutsche Gi7.650   3/10/2023   EUR   28.710
Romanian Government 2.875   4/13/2042   EUR   56.907
Credit Agricole Ital0.750   1/20/2042   EUR   57.677
Landesbank Hessen-Th0.350   5/27/2031   EUR   72.303
ALROSA Finance SA   3.100   6/25/2027   USD   7.994
Autostrade per l'Ita3.625   6/9/2038    EUR   72.600
Bayerische Landesban1.820   5/12/2031   EUR   72.030
Mondelez Internation1.250   9/9/2041    EUR   61.845
Europejskie Centrum 12.950  4/14/2023   PLN   72.558
Evan Group PLC      6.000   7/31/2022   EUR   19.000
Caixa Economica Mont5.738               EUR   51.630
Serbia Treasury Bond1.500   3/26/2033   EUR   73.728
DLR Kredit A/S      1.000   10/1/2053   DKK   71.580
Region of Veneto Ita2.556   12/7/2046   EUR   74.099
Raiffeisenlandesbank1.650   8/23/2046   EUR   70.384
Morgan Stanley & Co 1.105   6/18/2041   EUR   59.548
Credit Suisse AG/Lon0.875   5/21/2031   EUR   62.250
Credit Bank of Mosco8.875               USD   19.698
Communaute Francaise0.782   2/8/2061    EUR   38.628
Single Platform Inve0.946   5/25/2036   EUR   66.968
Gold-Zack AG        7.000   12/14/2005  EUR   4.201
Societe Generale SA 27.300  10/20/2025  USD   14.100
Portugal Telecom Int5.242   11/6/2017   EUR   0.694
United Kingdom Gilt 1.125   10/22/2073  GBP   40.041
Wirtschafts- und Inf0.500   8/28/2046   EUR   50.959
Ville de Paris      0.750   11/30/2041  EUR   59.111
State of Brandenburg0.050   8/10/2040   EUR   55.728
National Grid Electr1.690   9/16/2041   GBP   53.743
Ukraine Government I15.840  2/26/2025   UAH   68.986
State of Lower Austr0.460   10/8/2049   EUR   46.073
DZ Bank AG Deutsche 1.850   2/19/2049   EUR   72.554
Hemso Fastighets AB 2.680   7/10/2035   AUD   69.074
Kreditanstalt fuer W0.620   1/14/2050   EUR   51.454
Nordea Kredit Realkr0.500   10/1/2053   DKK   63.350
Region de Bruxelles-0.444   3/19/2057   EUR   34.421
ING Bank NV         2.250   2/26/2036   USD   71.506
Thames Water Utiliti2.442   5/12/2050   GBP   51.467
Caisse Francaise de 1.640   7/10/2048   EUR   70.082
Stadt Graz          1.878   10/31/2046  EUR   71.725
Air Berlin Finance B8.500   3/6/2019    EUR   0.241
State of Lower Austr1.800   3/9/2043    EUR   73.590
Romanian Government 2.124   7/16/2031   EUR   71.083
BOA Offshore AS     0.409   7/17/2047   NOK   2.344
Pfandbriefzentrale d0.250   6/12/2040   CHF   72.532
Norske Skog Holding 8.000   2/24/2023   USD   0.006
Grupo Antolin-Irausa3.500   4/30/2028   EUR   74.198
Sairgroup Finance BV6.625   10/6/2010   EUR   1.964
Regie Autonome des T0.938   5/25/2050   EUR   50.954
Nordea Hypotek AB   0.793   10/22/2032  SEK   74.190
Societe Generale SA 9.000   10/31/2034  USD   65.000
SiC Processing GmbH 7.125   3/1/2016    EUR   0.659
Depfa Funding III LP2.056               EUR   59.528
Abengoa Abenewco 2 B1.500   4/26/2024   USD   0.570
Single Platform Inve1.060   4/1/2042    EUR   62.154
DZ Bank AG Deutsche 1.070   10/6/2042   EUR   65.761
Land Thueringen     0.375   12/1/2051   EUR   45.787
Kernel Holding SA   6.750   10/27/2027  USD   40.594
Single Platform Inve1.840   7/25/2053   EUR   67.843
Alno AG             8.000   3/21/2019   EUR   14.500
Lloyds Bank PLC     0.500   7/26/2028   MXN   57.026
Societe Nationale SN1.400   5/18/2120   EUR   34.915
Kingdom of Belgium G2.750   6/10/2071   USD   67.591
Landesbank Hessen-Th0.700   1/6/2032    EUR   73.500
Ministeries Van de V0.634   11/19/2060  EUR   35.259
Uralkali OJSC Via Ur4.000   10/22/2024  USD   19.366
City of Lausanne Swi0.680   3/11/2058   CHF   57.722
Rena GmbH           7.000   12/15/2015  EUR   0.055
Kreditanstalt fuer W1.201   9/13/2051   EUR   63.984
BNP Paribas SA      3.700   10/4/2039   AUD   63.871
Jain International T7.125   3/31/2026   USD   27.547
Credit Bank of Mosco7.625               USD   19.503
Phosphorus Holdco PL10.000  4/1/2019    GBP   1.436
Republic of Austria 2.100   9/20/2117   EUR   68.808
Yarlington Treasury 3.410   9/18/2057   GBP   68.390
Single Platform Inve2.085   1/24/2044   NOK   71.280
Single Platform Inve3.505   8/6/2046    AUD   68.186
Deutsche Pfandbriefb0.710   9/10/2031   EUR   69.728
Anglian Water Servic1.760   11/13/2035  GBP   66.522
Steilmann SE        7.000   9/23/2018   EUR   1.429
Nordea Kredit Realkr1.000   10/1/2053   DKK   60.296
Ahtium PLC          9.750   4/4/2017    EUR   0.726
Banco Santander SA  0.790   9/30/2031   EUR   71.711
Societe Generale SA 2.300   4/20/2048   EUR   71.114
Purple Protected Ass2.100   4/15/2060   EUR   46.100
Vasakronan AB       1.130   5/27/2042   JPY   68.900
Mondelez Internation0.625   9/9/2032    EUR   73.372
Assistance Publique 2.000   5/25/2053   EUR   65.957
Praktiker AG        5.875   2/10/2016   EUR   0.001
Societe Generale SFH0.570   3/15/2036   EUR   69.072
Caisse Francaise de 0.125   2/15/2036   EUR   64.244
Assistance Publique 1.750   6/25/2039   EUR   74.710
Ukraine Government I9.790   5/26/2027   UAH   52.185
BNG Bank NV         10.010  6/17/2025   TRY   61.926
Bayerische Landesban0.970   2/14/2033   EUR   71.741
Region de Bruxelles-0.658   1/7/2041    EUR   58.062
Richter Gedeon Nyrt 1.750   6/4/2031    HUF   68.500
Erste Jelzalogbank z3.500   5/23/2029   HUF   #N/A N/A
Pfandbriefbank schwe0.250   4/25/2042   CHF   70.569
Region Auvergne-Rhon0.892   10/21/2041  EUR   60.009
HOCHTIEF AG         2.300   4/26/2034   EUR   70.630
Polyus Finance PLC  3.250   10/14/2028  USD   60.684
NRW Bank            1.400   3/19/2070   EUR   57.112
Odea Bank AS        8.606   8/1/2027    USD   73.500
Deutsche Telekom AG 4.125   7/23/2049   USD   72.860
Land Berlin         0.625   7/15/2039   EUR   64.945
Romanian Government 2.625   12/2/2040   EUR   56.235
Region Wallonne Belg1.225   9/2/2120    EUR   35.014
French Republic Gove1.250   5/25/2038   EUR   74.238
Kommunekredit       0.500   6/19/2039   DKK   62.860
Malta Government Bon2.000   7/10/2051   EUR   62.760
DZ Bank AG Deutsche 1.550   6/27/2041   EUR   73.373
BNP Paribas SA      1.590   2/23/2051   EUR   59.740
Malta Government Bon1.000   8/23/2035   EUR   71.854
ACCIONA Financiacion1.900   6/28/2034   EUR   69.165
Avanti Communication9.000   10/1/2022   USD   14.363
Land Thueringen     0.375   11/14/2034  EUR   71.108
Single Platform Inve0.745   2/15/2047   EUR   52.490
Credit Suisse AG/Lon3.500   3/28/2032   USD   73.426
Leonteq Securities A10.000  3/15/2023   CHF   62.880
DZ Bank AG Deutsche 2.000   12/29/2031  EUR   72.340
Societe Generale SA 24.000  11/8/2024   USD   53.400
Landesbank Baden-Wue4.984   2/20/2034   EUR   70.550
Hemso Fastighets AB 3.020   9/14/2048   SEK   65.774
Nomura Bank Internat1.071   1/28/2032   EUR   73.819
Scottish Hydro Elect1.429   10/20/2056  GBP   73.590
Novolipetsk Steel Vi4.700   5/30/2026   USD   70.521
State Savings Bank o11.996  1/19/2024   USD   32.486
Ukraine Government I11.670  11/22/2023  UAH   79.672
DLR Kredit A/S      0.500   10/1/2050   DKK   67.845
Single Platform Inve1.548   10/31/2050  EUR   61.444
Centre Hospitalier R0.800   6/28/2041   EUR   59.773
Societe Du Grand Par1.149   4/8/2069    EUR   44.631
Swedbank Hypotek AB 1.500   7/13/2048   EUR   69.170
Stadt Graz          1.824   10/31/2047  EUR   67.924
Privatbank CJSC Via 10.875  2/28/2018   USD   6.722
Ukraine Government I6.750   6/20/2028   EUR   16.054
Region de Bruxelles-1.144   1/14/2056   EUR   44.981
Engie SA            2.750   11/20/2045  EUR   73.038
State of Brandenburg0.300   10/4/2049   EUR   46.881
Anglian Water Servic0.850   12/23/2040  JPY   74.533
Ministeries Van de V2.317   7/3/2045    EUR   72.307
Banque Federative du2.460   6/7/2032    AUD   74.761
Erotik-Abwicklungsge7.750   7/9/2019    EUR   0.779
New World Resources 4.000   10/7/2020   EUR   0.010
Aareal Bank AG      1.741   1/12/2045   EUR   64.939
BAE Systems PLC     3.000   9/15/2050   USD   66.645
Autonomous Community1.931   4/4/2042    EUR   69.872
Erste Group Bank AG 7.250   3/3/2026    EUR   36.400
Erste Group Bank AG 1.200   2/11/2040   EUR   60.892
Ville de Paris      0.850   8/4/2051    EUR   47.513
Societe Du Grand Par1.923   5/25/2066   EUR   57.142
United Utilities Wat0.387   10/5/2057   GBP   55.317
BPCE SA             2.250   3/13/2040   AUD   51.110
Regie Autonome des T0.875   8/18/2080   EUR   35.027
Agence Metropolitain0.800   7/1/2040    EUR   61.485
Swissgrid AG        0.125   6/30/2036   CHF   72.392
Hemso Fastighets AB 1.130   10/31/2039  EUR   65.895
DLR Kredit A/S      0.500   10/1/2053   DKK   66.083
Agrokor dd          8.875   2/1/2020    USD   15.000
VTB Bank PJSC       5.000               USD   38.000
Barclays Bank PLC   3.900   2/15/2042   AUD   72.022
German Pellets GmbH 7.250   4/1/2016    EUR   1.507
Romanian Government 1.750   7/13/2030   EUR   71.885
CDC Habitat SEM     1.700   3/21/2039   EUR   71.676
Canton of Ticino    0.400   6/27/2044   CHF   71.178
Italy Buoni Polienna1.700   9/1/2051    EUR   56.104
Lukoil Securities BV3.875   5/6/2030    USD   71.000
Kingdom of Belgium G1.170   5/12/2121   EUR   35.596
PIK Securities DAC  5.625   11/19/2026  USD   41.750
CDC Habitat SEM     1.043   5/12/2036   EUR   68.295
Assistance Publique 1.183   4/16/2050   EUR   54.385
Tonon Luxembourg SA 12.500  5/14/2024   USD   0.009
State of Bremen     0.550   2/4/2050    EUR   50.044
BPCE SFH SA         1.586   2/1/2047    EUR   68.703
Grupo Isolux Corsan 1.000   12/30/2021  EUR   0.157
BNG Bank NV         1.627   4/25/2046   EUR   66.019
MMC Norilsk Nickel O2.550   9/11/2025   USD   73.514
Cie Generale de Navi0.350   12/29/2056  CHF   61.702
Free and Hanseatic C0.300   9/16/2050   EUR   45.664
City of Lausanne Swi0.230   11/1/2060   CHF   44.220
Single Platform Inve1.108   2/15/2041   EUR   63.051
Agrokor dd          9.125   2/1/2020    EUR   15.000
VTB Bank PJSC       13.000              RUB   40.200
MOL Hungarian Oil & 1.100   9/22/2030   HUF   54.500
GTC Magyarorszag Zrt2.250   12/7/2030   HUF   64.590
Single Platform Inve0.767   2/15/2041   EUR   58.805
MFB Magyar Fejleszte2.900   10/22/2031  HUF   59.599
Officine Maccaferri-5.750   6/1/2021    EUR   17.000
Moby SpA            7.750   2/15/2023   EUR   58.583
Caisse Francaise de 1.110   9/21/2046   EUR   67.250
Land Thueringen     0.250   3/5/2040    EUR   59.005
Proximus SADP       1.500   5/14/2040   EUR   63.428
Grand Delta Habitat 1.500   6/2/2045    EUR   61.211
Autonomous Community1.744   7/1/2061    EUR   51.946
Credit Agricole Corp2.610   7/27/2050   USD   57.431
Ville de Paris      1.165   6/9/2053    EUR   50.410
Caisse Francaise de 0.726   10/29/2039  EUR   63.574
Carmila SA          1.890   11/6/2031   EUR   69.789
NRW Bank            0.800   10/22/2060  EUR   48.635
Nederlandse Watersch0.877   6/24/2054   EUR   54.638
Banco Santander SA  2.280   2/28/2039   EUR   70.818
Bayerische Landesban0.380   1/22/2031   EUR   71.948
Landesbank Hessen-Th1.000   8/27/2035   EUR   66.172
Kreditanstalt fuer W1.115   5/17/2041   EUR   65.654
Charm Finance PLC   3.509   4/12/2048   GBP   72.320
Republic of Belarus 6.200   2/28/2030   USD   32.000
SNCF Reseau         1.425   8/14/2119   EUR   36.993
Bayerische Landesban0.500   12/2/2030   EUR   73.266
Republic of Ireland 0.740   9/22/2078   EUR   36.949
Vnesheconombank Via 6.025   7/5/2022    USD   6.219
DAH Holding GmbH    7.250   9/28/2018   EUR   0.718
Peine GmbH          2.000   7/5/2023    EUR   44.500
Raiffeisenlandesbank0.200   6/9/2036    EUR   65.360
Akademiska Hus AB   2.305   5/16/2040   SEK   74.534
Landesbank Baden-Wue1.050   7/17/2034   EUR   69.895
Region Bretagne SCI 0.815   6/12/2040   EUR   60.063
Depfa Funding II LP 6.500               EUR   58.500
BPCE SFH SA         1.210   6/15/2039   EUR   71.130
State of Bremen     0.400   8/20/2049   EUR   48.407
SNCF Reseau         1.100   10/27/2036  EUR   71.748
Nederlandse Watersch1.675   4/26/2046   EUR   72.101
State of Saxony-Anha1.223   5/4/2046    EUR   68.311
Kingdom of Belgium G0.459   7/23/2079   EUR   25.506
Basque Government   1.750   4/22/2050   EUR   59.945
Bazalgette Finance P0.010   8/5/2036    GBP   74.875
Romanian Government 1.375   12/2/2029   EUR   73.630
UniCredit SpA       0.725   11/27/2030  EUR   67.329
Hypo Vorarlberg Bank0.741   10/16/2036  EUR   51.699
Royal Schiphol Group2.890   10/25/2034  AUD   70.928
Junta de Castilla y 1.270   10/31/2044  EUR   58.613
NatWest Markets PLC 1.250   12/4/2034   EUR   67.709
LFA Foerderbank Baye0.125   9/30/2038   EUR   60.246
Lloyds Bank PLC     2.170   8/28/2038   EUR   73.222
Caisse des Depots et2.205   9/28/2041   AUD   62.015
Raiffeisenlandesbank0.810   10/20/2031  EUR   71.807
La Financiere Atalia5.125   5/15/2025   EUR   67.466
Deutsche Bahn Financ0.232   3/17/2032   EUR   74.701
Agence Francaise de 0.537   7/16/2040   EUR   61.906
Single Platform Inve0.419   2/15/2040   EUR   55.960
ING Bank NV         2.830   9/28/2051   USD   66.373
Centre Hospitalier R1.500   4/27/2050   EUR   67.824
TBI Bank EAD        5.250   7/30/2031   EUR   49.853
Kreditanstalt fuer W0.680   11/12/2039  EUR   71.297
BNP Paribas SA      0.685   8/26/2030   EUR   74.561
National Treasury Ma1.560   2/16/2122   EUR   51.609
Single Platform Inve3.770   3/3/2046    AUD   73.680
Ukraine Government B19.700  8/6/2025    UAH   72.187
Agence Francaise de 1.862   2/25/2054   EUR   73.098
United Utilities Wat1.474   8/24/2031   USD   72.378
Turkey Government In5.750   5/11/2047   USD   67.740
Parnassia Groep BV  1.210   12/1/2033   EUR   72.544
Muenchener Hypotheke0.125   11/19/2030  EUR   74.296
Landesbank Baden-Wue0.500   11/25/2030  EUR   74.731
Autonomous Community1.138   11/22/2052  EUR   47.166
BNP Paribas SA      1.150   11/20/2034  EUR   70.536
getgoods.de AG      7.750   10/2/2017   EUR   0.527
Cooperatieve Raboban0.500   1/31/2033   MXN   36.753
Heta Asset Resolutio7.500   12/31/2023  ATS   1.541
Region de Bruxelles-1.710   5/5/2047    EUR   64.422
Erdoel-Lagergesellsc1.200   6/4/2043    EUR   61.339
Kuntarahoitus Oyj   1.300   4/8/2061    EUR   61.881
Societe Du Grand Par2.062   3/19/2070   EUR   68.355
French Republic Gove0.500   5/25/2040   EUR   61.952
Norwegian Air Shuttl7.500   11/10/2023  USD   73.375
Agence Francaise de 1.715   10/27/2037  EUR   74.027
Kreditanstalt fuer W1.270   6/29/2051   EUR   65.677
Autonomous Community1.850   5/13/2061   EUR   53.095
SAir Group          5.500   7/23/2003   CHF   11.302
Region Wallonne Belg1.805   1/24/2040   EUR   70.557
United Kingdom Gilt 1.250   7/31/2051   GBP   51.497
State of Brandenburg0.300   11/17/2045  EUR   50.756
Wellis Magyarorszag 3.000   2/26/2031   HUF   67.074
Dyadya Doner OOO    13.500  4/25/2023   RUB   10.300
Societe Generale SA 8.000   10/31/2034  USD   71.500
Kuntarahoitus Oyj   1.150   4/1/2051    EUR   62.391
Caisse des Depots et3.000   11/8/2051   AUD   67.314
DZ Bank AG Deutsche 0.840   10/27/2031  EUR   73.141
Spain Government Bon1.200   10/31/2040  EUR   65.026
Grand City Propertie2.500   6/27/2039   EUR   59.732
Ukraine Government B19.600  4/2/2025    UAH   73.093
State of Lower Austr1.000   9/15/2121   EUR   29.970
Deutsche Pfandbriefb1.340   10/16/2051  EUR   66.424
Credit Suisse AG/Lon3.220   2/8/2032    AUD   71.615
CDC Habitat SEM     1.060   5/22/2036   EUR   68.570
Assistance Publique 0.634   8/27/2045   EUR   51.406
DZ HYP AG           0.050   1/31/2031   EUR   74.729
Assistance Publique 1.073   4/16/2045   EUR   58.323
Single Platform Inve0.740   4/1/2042    EUR   57.438
Caisse des Depots et1.900   5/17/2047   EUR   68.212
Land Berlin         0.100   1/18/2041   EUR   55.634
Muenchener Hypotheke0.250   10/31/2044  CHF   66.683
Assistance Publique 0.490   9/30/2040   EUR   57.155
Societe Wallonne de 0.948   10/23/2051  EUR   45.775
Single Platform Inve1.340   4/4/2042    EUR   67.617
Single Platform Inve1.675   2/15/2041   EUR   71.958
Credit Suisse AG/Lon4.450   6/28/2023   USD   9.300
DekaBank Deutsche Gi7.050   4/28/2023   EUR   57.180
Intelsat Jackson Hol9.750   7/15/2025   USD   0.495
Assistance Publique 1.053   5/25/2052   EUR   50.270
Sveriges Sakerstalld1.378   7/13/2046   SEK   62.511
Eurohold Bulgaria AD8.000   12/29/2026  EUR   71.457
Deutsche Bank AG    2.330   2/11/2043   EUR   72.235
Single Platform Inve0.908   2/15/2041   EUR   60.767
Ile-de-France Mobili1.586   2/23/2052   EUR   62.405
Vasakronan AB       2.256   4/12/2044   EUR   71.753
Purple Protected Ass2.060   3/30/2061   EUR   52.045
Assistance Publique 0.683   3/19/2041   EUR   58.736
ING Bank NV         2.220   1/20/2036   USD   71.371
Assistance Publique 0.750   12/3/2041   EUR   59.574
Agence France Locale0.570   9/20/2040   EUR   60.134
Agence Metropolitain0.500   7/7/2035    EUR   65.828
BNG Bank NV         0.630   7/11/2067   EUR   39.113
ING Groep NV        0.975   2/14/2034   EUR   62.372
City of Bochum Germa0.010   11/18/2030  EUR   74.837
Nederlandse Watersch0.996   11/4/2049   EUR   58.414
Kingdom of Belgium G1.600   6/22/2047   EUR   68.023
Communaute Francaise0.626   8/24/2040   EUR   58.888
Department of Loiret0.478   10/30/2040  EUR   56.846
Steilmann SE        6.750   6/27/2017   EUR   2.184
Cooperatieve Raboban0.500   11/30/2027  MXN   61.142
Nederlandse Watersch1.551   11/24/2061  EUR   62.395
Landeskreditbank Bad1.862   4/6/2062    EUR   69.240
HPI AG              3.500               EUR   0.500
Golden Gate GmbH    6.500   10/11/2014  EUR   36.000
DZ HYP AG           1.430   10/26/2046  EUR   64.814
Banque Federative du1.590   2/5/2031    USD   73.673
Credit Suisse AG/Nas3.750   10/20/2036  USD   67.794
Landesbank Hessen-Th0.650   10/18/2034  EUR   64.897
A-TEC Industries AG 2.750   5/10/2014   EUR   0.100
Cooperatieve Raboban1.460   6/1/2040    EUR   72.547
City of Amsterdam Ne1.515   2/26/2044   EUR   71.308
United Utilities Wat0.359   10/5/2048   GBP   59.322
Assistance Publique 0.750   11/30/2039  EUR   61.697
Kreditanstalt fuer W0.470   10/14/2033  EUR   74.931
Credit Agricole Corp2.800   2/23/2041   AUD   64.778
HSBC Bank PLC       0.500   6/23/2027   MXN   62.804
Kreditanstalt fuer W0.955   4/6/2040    EUR   68.990
Batigere Grand Est S1.400   8/31/2050   EUR   56.422
Italy Buoni Polienna0.950   3/1/2037    EUR   63.359
Region Hauts-de-Fran0.402   2/18/2043   EUR   51.820
Kantonsspital Baden 0.350   9/30/2036   CHF   74.071
Virgolino de Oliveir10.875  1/13/2020   USD   36.000
Norske Skog Holding 8.000   2/24/2023   USD   0.006
Communaute Francaise1.581   1/23/2120   EUR   44.813
Banco Santander SA  0.010   10/1/2032   EUR   64.841
Region de Bruxelles-1.810   3/22/2053   EUR   61.767
Pongs & Zahn AG     8.500   11/1/2014   EUR   0.003
Municipality of Utre0.950   3/2/2037    EUR   72.243
Region de Bruxelles-1.029   1/14/2048   EUR   52.952
Ukraine Government I12.520  5/13/2026   UAH   55.499
Norske Skogindustrie7.125   10/15/2033  USD   0.010
Spain Government Bon0.850   7/30/2037   EUR   66.498
Ukraine Government B19.750  11/5/2025   UAH   71.758
Caisse Francaise de 1.555   2/12/2042   EUR   73.413
Muenchener Hypotheke1.000   4/18/2039   EUR   69.848
Russian Agricultural8.500   10/16/2023  USD   13.160
BNG Bank NV         2.300   3/3/2036    AUD   70.295
SNCF Reseau         2.581   10/30/2047  SEK   74.358
Assistance Publique 1.810   11/17/2043  EUR   70.348
Region Wallonne Belg2.057   10/19/2043  EUR   70.394
Region de Bruxelles-0.556   12/23/2064  EUR   29.474
Rio Forte Investment4.000   7/22/2014   EUR   2.833
Single Platform Inve0.559   2/15/2047   EUR   49.657
BPCE SA             2.820   12/18/2039  AUD   56.909
Elli Finance UK PLC 8.750   6/15/2019   GBP   57.445
de Volksbank NV     1.552   4/12/2040   EUR   75.090
Societe Nationale SN2.457   12/23/2050  USD   63.531
Societe Generale SA 23.510  6/23/2026   USD   11.500
UniCredit Bank AG   6.600   7/20/2028   EUR   18.190
Gazprom PJSC        14.680  10/21/2043  RUB   71.000
Appeninn Holding    3.500   11/22/2029  HUF   65.500
Sberbank of Russia V5.250   5/23/2023   USD   32.842
Societe Generale SA 3.110   10/28/2041  AUD   60.873
Region de Bruxelles-1.310   12/15/2069  EUR   42.964
Metropolis of Grenob0.700   11/18/2033  EUR   73.706
Banco Santander SA  0.180   7/6/2031    EUR   74.925
Bazalgette Finance P0.688   6/27/2050   GBP   64.822
LSF9 Balta Issuer SA3.000   12/31/2030  EUR   61.413
Communaute Francaise2.000   4/14/2076   EUR   64.264
Societe Generale SA 3.100   4/22/2036   AUD   66.584
Societe Generale SA 1.137   1/26/2037   EUR   67.257
Land Thueringen     1.100   7/3/2047    EUR   63.312
BNP Paribas SA      3.580   7/23/2040   AUD   70.529
Region Occitanie    1.238   3/2/2039    EUR   69.149
Rusal Capital DAC   5.300   5/3/2023    USD   41.119
Raiffeisen Bank Inte0.370   2/3/2033    EUR   56.040
CDC Habitat SEM     0.814   2/15/2040   EUR   60.406
Societa di Progetto 3.375   12/31/2038  EUR   72.904
Norddeutsche Landesb0.600   11/18/2030  EUR   73.779
Deutsche Pfandbriefb1.000   12/2/2030   EUR   73.347
Landesbank Baden-Wue0.430   12/9/2030   EUR   73.692
Slovenska Sporitelna4.820               EUR   74.213
Municipality of Arnh0.605   2/24/2040   EUR   63.388
Erste Group Bank AG 0.770   11/13/2033  EUR   65.357
BPCE SA             1.980   10/6/2030   AUD   70.460
Credit Agricole Corp0.100   10/21/2030  EUR   72.374
Region Wallonne Belg0.050   10/26/2032  EUR   69.399
Landwirtschaftliche 1.365   3/10/2042   EUR   72.303
Landesbank Hessen-Th0.700   1/12/2037   EUR   62.500
Raiffeisen Schweiz G8.340   3/7/2023    EUR   63.510
Credit Suisse AG/Lon11.250  7/19/2023   CHF   55.400
CPI Hungary Investme2.250   8/7/2030    HUF   55.000
OTP Munkavallalok I 4.500   7/14/2031   HUF   68.970
Mifa Mitteldeutsche 7.500   8/12/2018   EUR   2.000
Banque Federative du2.687   10/23/2023  EUR   57.440
MS Deutschland Betei6.875   12/18/2017  EUR   0.206
TransFin-M PAO      9.400   2/4/2027    RUB   61.000
Bilt Paper BV       10.360              USD   1.294
Bazalgette Finance P0.074   5/16/2049   GBP   59.547
Aktia Bank Oyj      0.500   3/30/2031   EUR   70.546
Single Platform Inve1.850   11/5/2040   EUR   72.171
Grenke Finance PLC  2.040   4/16/2029   EUR   74.923
State of Lower Austr0.815   9/22/2056   EUR   45.944
Ukraine Government I12.520  5/13/2026   UAH   55.499
State of Hesse      0.450   9/23/2044   EUR   56.084
Nederlandse Watersch1.437   3/4/2042    EUR   71.399
Department of Girond0.846   4/29/2039   EUR   64.231
ING Bank NV         0.335   4/21/2036   EUR   65.950
DZ HYP AG           1.536   10/24/2039  EUR   74.253
Single Platform Inve1.860   2/15/2041   NOK   66.244
Grand City Propertie2.600   2/25/2034   EUR   68.676
Societe Generale SA 2.630   3/2/2036    USD   66.477
State of Saxony-Anha0.475   9/30/2050   EUR   50.304
Region de Bruxelles-1.040   5/3/2061    EUR   40.582
Societe Generale SA 1.700   1/19/2031   USD   73.599
Agence Francaise de 0.368   1/12/2046   EUR   51.689
Credito Padano Banca3.100               EUR   35.897
Jyske Realkredit A/S0.500   10/1/2043   DKK   74.290
Italy Buoni Polienna2.450   9/1/2050    EUR   67.583
State of Brandenburg0.375   1/29/2035   EUR   70.886
Norddeutsche Landesb1.600   4/14/2037   EUR   67.764
Luzerner Kantonalban6.000   7/6/2023    EUR   52.260
Nomura Bank Internat9.260   1/10/2027   USD   75.010
Erste Jelzalogbank z2.500   10/22/2028  HUF   67.850
Russian Federal Bond0.250   7/20/2044   RUB   12.000
Landesbank Baden-Wue1.500   4/24/2039   EUR   65.410
Autonomous Community1.646   7/30/2060   EUR   50.480
Erste Group Bank AG 1.170   1/28/2037   EUR   64.771
Credit Agricole SA  3.610   4/20/2036   AUD   66.788
Cooperatieve Raboban1.850   3/29/2049   EUR   59.690
SAir Group          4.250   2/2/2007    CHF   11.299
ING Bank NV         2.900   6/23/2051   USD   67.633
Societe Generale SFH0.360   9/14/2033   EUR   72.292
Single Platform Inve1.023   2/15/2046   EUR   56.838
Muenchener Hypotheke0.568   6/15/2032   EUR   73.120
SAir Group          2.125   11/4/2004   CHF   11.302
Serbia Treasury Bond2.250   2/26/2041   EUR   65.461
Credit Suisse AG/Lon1.450   12/20/2030  EUR   69.218
Rikshem AB          2.137   1/29/2036   EUR   71.742
Minicentrales Dos SA0.010   6/6/2047    EUR   66.382
Republic of Ireland 1.250   10/8/2121   EUR   42.291
Gemeente Bergen OP Z1.390   3/7/2039    EUR   74.458
Flamingo Lux II SCA 5.000   3/31/2029   EUR   73.656
DZ Bank AG Deutsche 1.470   1/20/2042   EUR   63.276
Turkiye Ihracat Kred12.540  9/14/2028   TRY   61.083
Raiffeisenlandesbank0.725   8/27/2041   EUR   61.438
Region Wallonne Belg0.970   6/24/2043   EUR   56.953
BNG Bank NV         1.980   4/19/2040   SEK   74.500
Region Wallonne Belg0.037   10/22/2031  EUR   74.369
Single Platform Inve1.440   7/18/2042   EUR   65.420
Assistance Publique 1.987   8/11/2042   EUR   73.936
Alliander NV        1.125   4/8/2035    EUR   68.322
Credit Suisse AG/Lon1.352   4/8/2034    EUR   72.108
Barclays Bank PLC   1.382   11/27/2045  EUR   48.260
City of Amsterdam Ne1.350   3/29/2038   EUR   74.770
Landesbank Hessen-Th1.500   10/1/2036   EUR   62.200
Bank Vontobel AG    9.500   6/2/2023    CHF   75.600
Bank Julius Baer & C9.300   4/27/2023   USD   62.800
Landesbank Hessen-Th0.850   7/17/2035   EUR   70.000
Skandinaviska Enskil10.150  1/15/2025   SEK   72.990
Caisse des Depots et1.150   2/3/2042    EUR   61.998
Raiffeisen-Landesban0.520   2/4/2033    EUR   73.963
CDC Habitat SEM     1.150   4/30/2037   EUR   68.353
LR Realkredit AS    1.000   10/1/2050   DKK   65.549
Vasakronan AB       2.400   6/20/2044   SEK   66.703
Land Baden-Wuerttemb1.150   4/5/2049    EUR   66.941
ABN AMRO Bank NV    0.500   12/12/2039  EUR   62.207
Region de Bruxelles-0.450   12/22/2056  EUR   33.712
La Veggia Finance SA7.125   11/14/2004  EUR   0.287
Slovenia Government 0.125   7/1/2031    EUR   73.933
National Grid Electr2.920   9/30/2044   AUD   62.892
Region Hauts-de-Fran0.691   7/9/2042    EUR   56.696
Grand Delta Habitat 1.425   2/26/2048   EUR   58.635
Lloyds Bank PLC     2.450   7/20/2048   EUR   71.331
Cassa Depositi e Pre1.089   12/15/2031  EUR   74.514
Assistance Publique 1.125   4/16/2047   EUR   56.737
Uliving@Essex Issuer0.100   8/31/2058   GBP   68.639
State of Lower Austr1.886   3/2/2048    EUR   70.677
Communaute Francaise1.760   1/26/2043   EUR   67.517
Polyus Finance PLC  4.700   1/29/2024   USD   60.001
Kreditanstalt fuer W0.816   12/19/2050  EUR   52.366
DZ Bank AG Deutsche 1.200   11/25/2050  EUR   55.812
NTRP Via Interpipe L10.250  8/2/2017    USD   15.229
Deutsche Bank AG    1.725   1/16/2045   EUR   48.383
Veneto Banca SpA    6.411               EUR   0.345
Turkey Government In4.875   4/16/2043   USD   63.784
Skandinaviska Enskil7.450   1/15/2025   SEK   71.760
WEB Windenergie AG  5.250   4/8/2023    EUR   0.010
FLUVIUS System Opera0.810   4/8/2033    EUR   67.697
Kommunekredit       0.991   3/9/2037    EUR   72.910
Region de Bruxelles-1.286   12/17/2046  EUR   58.410
Single Platform Inve1.040   6/25/2044   EUR   58.372
Lehman Brothers Trea4.984   10/5/2035   EUR   0.100
MMC Norilsk Nickel O2.800   10/27/2026  USD   71.000
Nomura Bank Internat1.130   4/23/2036   EUR   64.750
BPCE SA             3.000   11/18/2036  AUD   63.269
Deutsche Telekom AG 3.500   9/6/2039    AUD   71.949
Credit Suisse AG    0.500   12/16/2025  BRL   69.781
National Grid Electr2.710   10/4/2034   AUD   71.399
Sovcombank Via SovCo8.000   4/7/2030    USD   5.574
State of Hesse      0.227   8/20/2049   EUR   48.242
Ukraine Government B4.000   1/25/2024   USD   56.460
State of Brandenburg0.050   2/28/2033   EUR   71.654
Landesbank Hessen-Th0.400   9/17/2031   EUR   71.898
BPCE SA             2.250   3/13/2040   AUD   51.596
DZ Bank AG Deutsche 0.350   2/25/2030   EUR   74.291
Assistance Publique 0.666   3/19/2040   EUR   60.353
Republic of Ireland 1.230   5/29/2120   EUR   41.086
Batigere Grand Est S1.800   8/12/2050   EUR   63.088
National Grid Electr2.020   3/12/2032   AUD   72.740
Societe Generale SA 3.310   11/29/2033  AUD   73.216
Ministeries Van de V1.564   11/12/2046  EUR   63.548
SAir Group          5.125   3/1/2003    CHF   12.300
BPCE SFH SA         0.430   5/7/2040    EUR   58.728
Parnassia Groep BV  1.470   12/1/2045   EUR   51.510
Single Platform Inve1.842   2/15/2044   EUR   70.543
Erste Group Bank AG 1.065   5/17/2041   EUR   57.355
BPCE SA             0.500   10/21/2034  EUR   67.881
Ministeries Van de V1.603   3/1/2038    EUR   75.182
Landesbank Hessen-Th0.750   12/17/2035  EUR   63.173
State of Mecklenburg0.239   11/17/2070  EUR   33.280
Orient Express Bank 2.000               USD   18.043
Societe Generale SA 0.831   11/25/2031  EUR   69.568
Autonomous Community1.089   10/31/2049  EUR   50.394
Aareal Bank AG      1.068   2/18/2050   EUR   60.477
Deutsche Wohnen SE  1.700   12/5/2036   EUR   66.516
Hypo Vorarlberg Bank0.570   8/26/2030   EUR   70.718
UkrLandFarming PLC  10.875  3/26/2018   USD   1.751
NRW Bank            1.510   3/7/2046    EUR   70.453
Serbia Treasury Bond2.300   3/18/2047   EUR   60.272
Malta Government Bon2.600   9/27/2047   EUR   74.700
Landesbank Hessen-Th1.750   2/16/2037   EUR   63.900
UBS AG/London       14.750  3/29/2023   CHF   26.800
BNP Paribas Issuance1.560   2/2/2039    EUR   51.090
DZ Bank AG Deutsche 1.000   2/8/2035    EUR   68.268
Kommunekredit       1.062   9/9/2041    EUR   67.975
Single Platform Inve1.715   2/15/2041   EUR   72.175
Region Occitanie    1.339   3/21/2042   EUR   65.740
Minicentrales Dos SA0.010   6/6/2047    EUR   59.346
Caisse des Depots et1.460   1/24/2052   EUR   58.147
Credit Bank of Mosco7.121   6/25/2024   USD   23.487
DZ Bank AG Deutsche 0.700   3/2/2034    EUR   71.874
MMC Norilsk Nickel O6.625   10/14/2022  USD   72.031
Bankinter SA        1.200   6/5/2035    EUR   72.458
Specialfastigheter S1.280   9/20/2049   SEK   53.524
Norddeutsche Landesb1.090   11/15/2043  EUR   64.476
Swedbank Hypotek AB 1.490   8/15/2038   EUR   74.361
Deutsche Wohnen SE  2.125   9/26/2033   EUR   70.114
Purple Protected Ass1.580   5/25/2060   EUR   42.381
Single Platform Inve1.250   5/10/2044   EUR   61.336
United Kingdom Gilt 1.750   1/22/2049   GBP   61.320
Communaute Francaise0.749   9/16/2080   EUR   46.047
Vasakronan AB       2.130   5/27/2041   SEK   68.235
Societe Generale SA 2.000   2/26/2033   USD   72.301
Basque Government   2.000   4/30/2059   EUR   59.088
Landesbank Hessen-Th1.340   6/4/2042    EUR   60.883
Comunidad Foral de N1.450   5/8/2040    EUR   66.447
Communaute Francaise2.100   6/30/2067   EUR   63.364
DZ Bank AG Deutsche 1.000   2/18/2032   EUR   65.934
SNCF Reseau         2.029   1/22/2048   EUR   69.523
Region Wallonne Belg2.160   2/23/2044   EUR   71.474
Frigate Luxembourg S2.000   8/1/2032    EUR   59.713
Single Platform Inve0.887   9/20/2039   EUR   62.140
Kreditanstalt fuer W1.087   1/21/2050   EUR   64.420
Deutsche Wohnen SE  1.250   7/31/2031   EUR   73.659
Corner Banca SA     8.000   6/21/2023   CHF   55.480
Hunland Feed Kft    2.880   7/21/2031   HUF   65.730
DZ Bank AG Deutsche 2.696   6/24/2026   EUR   73.090
DNB Boligkreditt AS 0.980   6/20/2044   EUR   62.968
Windreich GmbH      6.500   3/1/2015    EUR   2.780
Prosus NV           1.985   7/13/2033   EUR   68.229
ABN AMRO Bank NV    1.171   4/4/2044    EUR   63.901
Muenchener Hypotheke1.230   2/11/2042   EUR   69.539
Nederlandse Watersch0.750   10/4/2041   EUR   62.355
Banque Federative du0.376   10/15/2031  EUR   69.078
Region Wallonne Belg1.135   10/10/2069  EUR   44.489
ABN AMRO Bank NV    0.450   12/12/2036  EUR   66.882
Societe Nationale SN2.820   4/28/2036   AUD   74.630
Ministeries Van de V1.874   3/28/2058   EUR   60.191
Single Platform Inve0.750   8/15/2050   EUR   49.230
Intelsat Jackson Hol8.500   10/15/2024  USD   0.495
Italy Buoni Polienna0.150   5/15/2051   EUR   64.436
Kommunekredit       1.375   5/18/2046   SEK   64.598
Landeskreditbank Bad2.500   5/21/2036   AUD   69.562
Batigere Grand Est S2.030   5/29/2070   EUR   69.947
Centre Hospitalier U1.160   9/6/2039    EUR   55.700
Novolipetsk Steel Vi4.000   9/21/2024   USD   65.445
Parnassia Groep BV  1.430   12/1/2043   EUR   53.937
Gecci Investment KG 6.000   10/1/2027   EUR   25.339
BNP Paribas SA      0.500   9/29/2029   AUD   69.736
Kommunekredit       0.100   9/30/2033   DKK   69.534
Dublin Port Co      2.406   9/30/2049   EUR   70.412
Agrokor dd          9.875   5/1/2019    EUR   15.000
Mox Telecom AG      7.250   11/2/2017   EUR   2.270
Raiffeisen Bank Inte10.000  3/24/2023   EUR   29.340
Landesbank Hessen-Th1.600   6/12/2035   EUR   68.100
Landesbank Hessen-Th0.500   2/14/2035   EUR   68.400
Kreditanstalt fuer W1.171   7/19/2051   EUR   63.859
GB Social Housing PL3.814   4/9/2047    GBP   70.784
French Republic Gove0.500   6/25/2044   EUR   56.272
HSBC Continental Eur2.025   3/19/2049   EUR   60.098
Rhaetische Bahn AG R0.050   8/3/2050    CHF   58.667
Region de Bruxelles-1.419   6/22/2045   EUR   64.223
Heta Asset Resolutio2.290   12/31/2023  EUR   1.500
Communaute Francaise1.815   3/26/2049   EUR   65.255
Vasakronan AB       0.950   3/22/2039   JPY   72.084
ASCE Group OJSC     7.000   6/11/2031   USD   60.875
Kreditanstalt fuer W1.143   4/15/2050   EUR   64.305
Hellas Telecommunica6.054   1/15/2015   USD   0.014
Pfandbriefbank schwe0.375   6/15/2046   CHF   68.337
United Kingdom Gilt 1.500   7/22/2047   GBP   58.587
SNCF Reseau         2.622   9/24/2049   USD   68.890
Credit Agricole Corp1.190   2/26/2040   EUR   62.614
Alfa Bank AO Via Alf5.500   10/26/2031  USD   3.443
CDC Habitat SEM     1.170   5/4/2037    EUR   68.578
Caisse des Depots et1.548   8/9/2038    EUR   73.266
Region Wallonne Belg1.246   5/12/2070   EUR   46.633
ING Bank NV         2.410   3/16/2031   AUD   77.858
French Republic Gove1.500   5/25/2050   EUR   66.019
Kuntarahoitus Oyj   1.011   1/27/2037   EUR   73.408
Kuntarahoitus Oyj   1.400   3/5/2061    EUR   64.065
Hypo Vorarlberg Bank1.520   7/8/2050    EUR   44.276
State of North Rhine0.463   8/8/2033    EUR   74.250
Nationwide Building 1.481   12/8/2037   EUR   74.212
Land Baden-Wuerttemb0.375   7/20/2048   EUR   48.025
DZ Bank AG Deutsche 1.840   12/21/2048  EUR   68.152
Akademiska Hus AB   0.850   2/17/2033   SEK   71.499
Liga Bank eG Regensb0.010   1/29/2036   EUR   61.442
Department of Girond0.461   12/3/2032   EUR   74.852
Ukraine Government B3.900   10/5/2023   USD   68.295
DZ Bank AG Deutsche 1.000   2/13/2042   EUR   64.913
National Grid Electr1.151   2/20/2040   EUR   58.746
Hypo Vorarlberg Bank0.860   10/24/2034  EUR   56.966
Veneto Banca SpA    6.944   5/15/2025   EUR   0.065
DZ HYP AG           1.033   12/6/2049   EUR   59.736
Veneto Banca SpA    6.950   2/25/2025   EUR   0.065
Autonomous Community1.255   10/31/2048  EUR   53.200
Credit Agricole Corp10.500  2/16/2027   TRY   64.425
BNP Paribas SA      0.500   11/16/2032  MXN   34.226
Penarian Housing Fin3.212   6/7/2052    GBP   70.367
Landesbank Hessen-Th1.000   3/17/2036   EUR   61.100
VTB Bank PJSC       3.750               EUR   38.000
SG Issuer SA        0.263   2/20/2025   EUR   21.730
Landesbank Hessen-Th4.984   2/11/2037   EUR   63.200
Credit Suisse AG/Lon5.000   3/29/2023   USD   9.990
VON Der Heydt Securi1.000   4/30/2031   EUR   67.676
RENE LEZARD Mode Gmb7.250   11/25/2017  EUR   0.400
Malta Government Bon2.400   8/13/2052   EUR   67.150
Malta Government Bon1.200   5/13/2037   EUR   68.720
DZ HYP AG           0.205   6/5/2040    EUR   55.530
Pescanova SA        5.125   4/20/2017   EUR   0.319
Citigroup Global Mar1.000   1/21/2036   EUR   65.761
Commerzbank AG      2.565   5/15/2043   EUR   74.272
Landwirtschaftliche 0.984   2/4/2042    EUR   67.114
Nykredit Realkredit 1.182   1/17/2034   EUR   71.247
Ministeries Van de V0.875   6/3/2045    EUR   52.557
Norddeutsche Landesb1.150   7/23/2036   EUR   63.875
Commerzbank AG      2.350   2/24/2042   EUR   75.211
Communaute Francaise1.340   7/1/2054    EUR   53.180
Societe Du Grand Par1.955   4/16/2069   EUR   62.052
Office Public De L'H1.700   12/22/2060  EUR   66.969
HSBC Continental Eur0.900   3/2/2035    EUR   62.126
de Volksbank NV     1.531   12/20/2038  EUR   73.744
AXA Home Loan SFH SA0.250   5/26/2032   EUR   73.904
Housing & Care 21   3.288   11/8/2049   GBP   69.120
Natixis SA          0.300   6/25/2048   USD   30.632
State of Saarland   0.500   3/15/2051   EUR   49.583
Credit Bank of Mosco5.150   2/20/2024   EUR   27.993
DNB Boligkreditt AS 1.545   5/18/2038   EUR   74.836
Single Platform Inve0.678   2/15/2041   EUR   57.314
UniCredit SpA       1.490   10/23/2035  EUR   66.612
Prosus NV           2.031   8/3/2032    EUR   71.013
Jyske Realkredit A/S0.500   10/1/2053   DKK   63.357
Hemso Fastighets AB 2.975   10/25/2038  SEK   75.051
Credito Padano Banca3.100               EUR   36.136
EnBW International F2.080   1/21/2041   EUR   64.394
Swedbank AB         0.350   9/22/2031   EUR   68.198
Portugal Obrigacoes 1.000   4/12/2052   EUR   49.141
NRW Bank            0.185   8/17/2033   EUR   72.180
Intelsat Jackson Hol9.750   7/15/2025   USD   0.495
Grupo Isolux Corsan 6.000   12/30/2021  EUR   0.253
Purple Protected Ass1.480   11/30/2060  EUR   43.356
Nationwide Building 1.336   2/26/2041   EUR   71.323
Republic of Ireland 1.320   11/28/2119  EUR   38.747
Cie de Saint-Gobain 3.000   12/23/2049  EUR   72.036
Credit Agricole Corp0.650   11/5/2034   EUR   65.257
Purple Protected Ass2.085   10/27/2060  EUR   48.158
State of Rhineland-P0.100   10/1/2040   EUR   57.781
niiio finance group 4.000   5/31/2026   EUR   45.000
DekaBank Deutsche Gi3.300   4/28/2023   EUR   71.690
Societe Generale SA 8.000   1/31/2033   USD   74.800
Credit Suisse AG/Lon9.500   3/8/2023    USD   65.380
Credit Suisse AG/Lon4.530   7/12/2023   USD   9.200
Quintet Private Bank6.050   5/26/2026   USD   63.200
UBS AG/London       12.000  3/22/2023   CHF   11.880
TransFin-M PAO      9.150   2/4/2027    RUB   61.000
Magyar Telekom Telec1.450   11/26/2027  HUF   #N/A N/A
Duna Aszfalt Ut Es M2.990   10/17/2029  HUF   61.000
Credit Suisse AG/Lon3.110   3/3/2032    USD   70.818
A-TEC Industries AG 5.750   11/2/2010   EUR   0.100
HSBC Continental Eur2.040   3/29/2049   EUR   60.297
Lehman Brothers Trea4.984   3/16/2035   EUR   0.100
Region Auvergne-Rhon1.090   4/8/2037    EUR   69.428
UBS Group AG        2.370   2/25/2036   USD   70.061
Region Wallonne Belg1.220   6/12/2050   EUR   53.837
Natixis SA          2.955   5/28/2050   USD   66.812
DLR Kredit A/S      1.000   10/1/2053   DKK   66.803
Assistance Publique 0.800   3/23/2046   EUR   53.114
Aktia Bank Oyj      0.550   3/17/2031   EUR   71.000
Ministeries Van de V1.095   6/3/2055    EUR   47.125
BPCE SA             2.550   6/9/2035    AUD   61.506
Cie de Saint-Gobain 1.875   5/3/2035    EUR   72.132
Autonomous Community1.950   5/24/2041   EUR   70.164
Hemso Fastighets AB 2.127   4/18/2039   EUR   66.947
Caisse des Depots et1.382   3/16/2045   EUR   61.426
ABN AMRO Bank NV    0.250   12/12/2032  EUR   73.842
Kuntarahoitus Oyj   1.005   11/4/2060   EUR   55.328
Cooperatieve Raboban2.250   9/15/2047   EUR   67.115
Vasakronan AB       3.300   1/14/2042   AUD   67.947
Societe Du Grand Par2.100   2/14/2069   EUR   59.909
Credit Agricole SA  3.270   10/5/2041   AUD   56.716
Credit Suisse AG/Lon2.100   3/31/2031   USD   67.885
Kreditanstalt fuer W0.980   6/28/2051   EUR   61.546
Grand City Propertie2.800   2/25/2039   EUR   63.118
Land Berlin         0.150   2/22/2036   EUR   66.151
National Grid Electr2.500   7/24/2035   AUD   67.893
Republic of Austria 0.850   6/30/2120   EUR   39.479
Alfa Bank AO Via Alf5.900               USD   2.566
BNG Bank NV         1.040   11/28/2047  EUR   58.898
Nederlandse Watersch1.428   11/14/2046  EUR   67.855
Denmark Government B0.250   11/15/2052  DKK   49.695
Communaute Francaise1.520   7/22/2069   EUR   52.527
Deutsche Pfandbriefb1.850   9/20/2032   EUR   74.122
HYPO NOE Landesbank 1.700   9/22/2032   EUR   75.374
Muenchener Hypotheke1.543   11/16/2048  EUR   69.295
Nederlandse Watersch1.650   5/27/2061   EUR   62.701
State of Lower Austr1.750   5/2/2047    EUR   69.161
Single Platform Inve1.660   12/16/2036  EUR   73.098
Single Platform Inve0.835   10/14/2061  EUR   44.602
State of North Rhine1.467   6/12/2045   EUR   70.017
Barclays Bank PLC   3.100   12/13/2044  AUD   61.141
Wirtschafts- und Inf0.060   8/31/2034   EUR   67.796
Collectivite Europee0.181   10/9/2032   EUR   72.975
Agence Francaise de 2.360   1/30/2045   AUD   61.247
Cooperatieve Raboban0.500   12/29/2027  MXN   59.976
Societe Generale SA 20.000  2/29/2024   USD   10.250
Zurcher Kantonalbank24.800  4/12/2023   USD   40.080
UBS AG/London       13.250  4/14/2023   USD   53.950
UBS AG/London       7.250   5/3/2023    EUR   71.750
Opus Global Nyrt    2.800   10/29/2029  HUF   69.500
Takarek Mortgage Ban1.750   12/22/2026  HUF   72.800
Citigroup Global Mar2.930   9/15/2025   EUR   50.010
Landesbank Baden-Wue3.150   3/24/2023   EUR   50.230
Barclays Bank PLC   2.000   10/8/2042   EUR   59.207
Landwirtschaftliche 0.400   7/29/2036   EUR   68.155
Agence Francaise de 1.656   4/4/2054    EUR   69.091
Region Auvergne-Rhon1.150   4/8/2039    EUR   67.029
Single Platform Inve1.250   8/15/2051   EUR   57.997
LBI ehf             6.100   8/25/2011   USD   10.166
BNP Paribas SA      3.750   6/12/2040   AUD   72.115
Landshypotek Bank AB1.815   2/25/2041   SEK   71.404
Ville de Paris      0.963   6/8/2050    EUR   49.675
Cie de Financement F0.975   8/11/2046   EUR   61.859
Chelyabinsk Pipe Pla4.500   9/19/2024   USD   21.363
SAir Group          6.250   4/12/2005   CHF   11.302
Societe Du Grand Par0.576   10/29/2052  EUR   41.452
Norddeutsche Landesb0.600   2/24/2031   EUR   72.996
Raiffeisenverband Sa1.853   2/5/2049    EUR   71.932
HSBC Continental Eur2.200   2/19/2049   EUR   63.103
Single Platform Inve0.363   2/15/2041   EUR   53.671
Caisse Francaise de 1.093   10/14/2051  EUR   59.709
Caisse Francaise de 1.428   2/19/2049   EUR   69.173
Credit Suisse AG/Lon1.500   3/19/2029   USD   72.502
BPCE SA             2.255   3/12/2040   AUD   50.849
Saastopankkien Kesku0.860   1/18/2036   EUR   59.627
NRW Bank            1.182   8/7/2050    EUR   56.856
DekaBank Deutsche Gi0.230   4/22/2031   EUR   73.914
CNH Industrial Finan2.200   7/15/2039   EUR   72.507
BNG Bank NV         0.632   7/12/2066   EUR   39.791
Norddeutsche Landesb1.100   7/5/2032    EUR   72.408
Region Provence-Alpe0.569   10/1/2038   EUR   62.147
Banco Santander SA  1.000   1/14/2034   EUR   68.053
Landesbank Hessen-Th1.370   9/22/2031   EUR   71.074
Getin Noble Bank SA 11.000  8/30/2024   PLN   56.722
Region Auvergne-Rhon0.645   4/9/2040    EUR   58.370
Kreditanstalt fuer W0.820   4/15/2050   EUR   60.737
Single Platform Inve1.080   5/25/2066   EUR   46.563
Kommunalkredit Austr0.570   9/15/2037   EUR   64.520
JAB Holdings BV     2.000   12/19/2039  EUR   71.116
United Kingdom Gilt 0.250   7/31/2031   GBP   74.879
DZ Bank AG Deutsche 0.660   11/23/2035  EUR   65.956
Banque International0.480   11/13/2030  EUR   69.350
City of Gothenburg S1.990   2/20/2045   SEK   71.896
Republic of Croatia 1.000   11/27/2034  EUR   71.208
Banca Popolare di Vi9.500   10/2/2025   EUR   0.380
MFB Magyar Fejleszte1.900   4/22/2026   HUF   74.782
Societe Wallonne de 0.904   10/23/2047  EUR   47.429
Stichting Afwikkelin8.450   8/20/2018   USD   43.625
Ville de Paris      2.017   5/25/2052   EUR   65.846
Vajda-Papir Gyarto K3.500   5/17/2031   HUF   69.600
Credit Suisse AG/Lon6.900   3/20/2023   USD   2.220
Societe Generale SA 20.000  4/3/2025    USD   14.100
Credit Suisse AG/Lon21.500  3/15/2023   USD   63.330
Landesbank Baden-Wue10.000  1/26/2024   EUR   47.090
Landesbank Hessen-Th0.850   2/18/2036   EUR   59.650
GVC George's Venture2.500   12/18/2030  HUF   69.610
Banco Santander SA  2.011   4/12/2039   EUR   67.060
Global Ports Finance6.500   9/22/2023   USD   23.469
Transports Publics N0.320   10/28/2037  CHF   69.453
Italy Buoni Polienna2.800   3/1/2067    EUR   67.068
ABN AMRO Bank NV    1.070   3/3/2041    EUR   67.485
Premium Green PLC   1.610   9/30/2030   AUD   72.696
Land Thueringen     1.127   4/2/2049    EUR   62.382
Basque Government   2.350   4/11/2049   EUR   70.994
Communaute Francaise1.820   3/27/2049   EUR   65.245
DZ Bank AG Deutsche 1.000   1/24/2035   EUR   74.899
Region Bretagne SCI 0.815   6/12/2040   EUR   61.765
Region Auvergne-Rhon0.805   7/26/2039   EUR   62.501
Societe Generale SA 3.820   4/26/2039   AUD   68.755
State of Bremen     0.936   9/28/2046   EUR   62.223
Deutsche Bahn Financ2.005   6/7/2039    SEK   71.949
State of North Rhine1.491   8/23/2066   EUR   58.995
State of North Rhine1.641   8/11/2066   EUR   61.958
Oberoesterreichische1.014   9/16/2049   EUR   48.588
Communaute Francaise1.115   7/11/2039   EUR   63.965
Free and Hanseatic C1.095   6/13/2046   EUR   65.057
Credit Mutuel Arkea 1.165   9/23/2039   EUR   62.313
Societe Generale SA 2.880   9/10/2034   AUD   67.311
Steilmann SE        7.000   3/9/2017    EUR   1.429
UBS AG/London       2.630   9/3/2044    AUD   61.401
Nomura Bank Internat1.138   12/19/2039  EUR   56.878
SNCF Reseau         2.777   7/29/2115   EUR   70.069
Berlin Hyp AG       0.440   10/29/2035  EUR   61.288
Aktia Bank Oyj      0.850   12/21/2040  EUR   51.319
Kreditanstalt fuer W1.000   4/27/2041   EUR   67.833
Hungary Government B4.000   4/28/2051   HUF   54.483
Purple Protected Ass1.565   12/23/2060  EUR   60.385
Purple Protected Ass1.518   1/25/2061   EUR   62.445
Credit Suisse AG/Lon0.900   12/20/2031  EUR   59.811
Single Platform Inve0.780   2/15/2040   EUR   60.048
Landesbank Baden-Wue0.500   2/3/2032    EUR   72.878
Norske Skogindustrie7.125   10/15/2033  USD   0.010
Bayerische Landesban1.820   3/12/2031   EUR   72.181
Purple Protected Ass1.570   4/30/2061   EUR   51.735
Single Platform Inve1.103   5/25/2052   EUR   53.617
Nederlandse Watersch0.932   12/2/2060   EUR   47.894
Single Platform Inve0.940   10/4/2041   EUR   59.261
NRW Bank            0.533   1/21/2041   EUR   61.199
Region de Bruxelles-1.100   5/25/2051   EUR   52.835
Republic of Ireland 1.180   5/25/2087   EUR   45.757
Swissgrid AG        0.200   6/29/2040   CHF   66.909
Caisse des Depots et0.945   5/19/2051   EUR   51.016
Santander Internatio2.770   7/2/2035    USD   71.243
NRW Bank            0.106   8/17/2050   EUR   47.189
Hospices Civils de L0.380   8/28/2030   EUR   74.299
Purple Protected Ass1.598   2/5/2061    EUR   63.472
Bayerische Landesban0.280   10/9/2030   EUR   73.222
Societe Generale SA 5.050   11/25/2036  USD   50.200
Pfandbriefbank schwe0.250   1/24/2041   CHF   71.952
HYPO NOE Landesbank 1.810   1/16/2034   EUR   73.618
Banque et Caisse d'E1.000   1/4/2042    EUR   66.795
Deutsche Bank AG    0.500   9/16/2031   EUR   73.046
Landesbank Hessen-Th1.806   5/11/2037   EUR   71.656
Wirtschafts- und Inf0.208   1/28/2043   EUR   52.323
City of Amsterdam Ne0.490   12/16/2036  EUR   67.341
DNB Boligkreditt AS 1.474   5/22/2037   EUR   74.279
Single Platform Inve1.083   2/15/2041   EUR   62.617
DNB Boligkreditt AS 1.594   1/29/2043   EUR   72.059
Rikshem AB          1.910   11/16/2032  NOK   74.878
Landesbank Saar     0.835   2/19/2035   EUR   68.088
Groupe Hospitalier B1.070   4/16/2041   EUR   74.644
Nederlandse Watersch1.180   2/23/2037   EUR   74.475
Intesa Sanpaolo Bank3.102   11/19/2035  AUD   68.800
Nationwide Building 1.420   4/23/2041   EUR   72.870
Region Wallonne Belg1.150   9/2/2120    EUR   33.356
Aareal Bank AG      0.625   9/16/2030   EUR   73.173
Comunidad Foral de N0.550   10/22/2035  EUR   65.551
Virgolino de Oliveir11.750  2/9/2022    USD   0.815
Landesbank Baden-Wue7.000   4/28/2023   EUR   77.780
Anselma Issuer SA   2.174   12/31/2038  EUR   48.580
Corner Banca SA     8.000   5/10/2023   CHF   70.430
KESZ Holding Busines2.800   6/17/2031   HUF   67.440
Credit Suisse AG/Lon11.000  9/5/2023    CHF   72.030
Credit Suisse AG/Lon4.600   3/31/2023   USD   9.630
DekaBank Deutsche Gi6.000   7/19/2023   EUR   65.440
Banque Cantonale Vau7.300   9/16/2024   CHF   19.270
Vontobel Financial P4.000   7/18/2023   EUR   56.720
MOL Hungarian Oil & 1.900   4/12/2031   HUF   57.300
SkyGreen Buildings K3.000   12/29/2030  HUF   63.700
DZ Bank AG Deutsche 5.000   3/24/2023   EUR   62.080
Deutsche Bank AG/Lon13.750  6/20/2026   TRY   39.714
Citigroup Global Mar1.370   7/27/2051   EUR   55.317
City of Zurich Switz0.250   11/24/2051  CHF   63.104
Banque et Caisse d'E0.880   2/10/2037   EUR   72.023
Bazalgette Finance P0.174   5/16/2049   GBP   64.536
DZ Bank AG Deutsche 0.760   9/15/2033   EUR   73.020
Credit Suisse AG/Lon2.000   9/30/2030   USD   68.965
Region Wallonne Belg1.300   6/16/2068   EUR   44.368
Berlin Hyp AG       0.030   7/22/2030   EUR   73.975
Region Occitanie    0.727   11/16/2037  EUR   65.808
Landesbank Hessen-Th1.000   6/18/2035   EUR   66.615
Nederlandse Watersch1.208   1/23/2042   EUR   68.380
Banco Santander SA  0.180   7/8/2031    EUR   74.813
Autonomous Community1.900   5/24/2039   EUR   72.732
Landesbank Hessen-Th0.650   11/13/2034  EUR   64.727
Communaute Francaise1.187   9/16/2069   EUR   51.383
Communaute Francaise0.584   9/17/2039   EUR   57.443
Landesbank Hessen-Th0.750   9/18/2034   EUR   65.952
HSBC Continental Eur1.140   8/26/2049   EUR   47.641
BNG Bank NV         2.011   12/18/2045  EUR   75.078
Credit Suisse AG/Lon3.880   10/31/2036  USD   66.758
Decipher Production 12.500  9/27/2019   USD   1.500
DZ HYP AG           1.528   3/12/2040   EUR   72.733
Grand Delta Habitat 1.820   3/18/2050   EUR   64.188
Goldman Sachs Intern2.200   3/29/2048   EUR   70.333
Region de Bruxelles-0.650   2/15/2061   EUR   34.304
DZ Bank AG Deutsche 1.000   1/13/2032   EUR   73.777
V-Bank AG           4.000               EUR   70.906
Nederlandse Watersch1.850   2/11/2059   EUR   67.895
Credit Agricole SA  1.000   4/6/2035    EUR   68.640
Pfandbriefzentrale d0.200   5/22/2042   CHF   69.592
Region Auvergne-Rhon0.800   5/22/2040   EUR   59.961
Nomura Bank Internat1.415   1/27/2042   EUR   61.451
BNG Bank NV         2.000   9/5/2058    EUR   66.215
Single Platform Inve1.010   3/20/2051   EUR   53.982
DZ Bank AG Deutsche 0.750   5/4/2033    EUR   73.727
Pfandbriefzentrale d0.450   2/11/2042   CHF   73.892
NRW Bank            0.300   9/29/2033   EUR   72.894
Credit Bank of Mosco3.100   1/21/2026   EUR   24.228
HSBC Continental Eur1.875   5/23/2036   EUR   74.228
Assistance Publique 0.791   8/27/2051   EUR   46.496
Societe Nationale SN2.910   1/27/2051   AUD   65.583
Muenchener Hypotheke0.120   8/13/2030   EUR   74.484
DZ HYP AG           0.300   8/21/2035   EUR   66.327
Muenchener Hypotheke1.185   5/5/2059    EUR   57.051
DZ Bank AG Deutsche 0.190   1/14/2031   EUR   70.667
United Kingdom Gilt 1.750   9/7/2037    GBP   74.522
Thomas Cook Group PL6.250   6/15/2022   EUR   0.325
Centre Hospitalier d1.580   2/11/2061   EUR   68.818
Kreditanstalt fuer W0.683   2/22/2051   EUR   56.753
Centre Hospitalier B0.950   2/5/2041    EUR   50.918
ABN AMRO Bank NV    1.585   1/21/2039   EUR   74.403
Hypo-Bank Burgenland0.810   9/17/2031   EUR   71.883
Single Platform Inve2.160   2/15/2044   EUR   74.728
Jyske Realkredit A/S0.500   10/1/2053   DKK   65.334
Deutsche Bank AG    1.050   9/1/2031    EUR   73.244
Credit Agricole Corp2.110   7/6/2037    EUR   75.127
Brussels Municipalit0.336   12/15/2035  EUR   65.337
Deutsche Bank AG    1.750   4/9/2035    EUR   71.046
Agence France Locale0.586   6/20/2034   EUR   69.646
Vnesheconombank Via 5.942   11/21/2023  USD   7.745
Wirtschafts- und Inf0.200   12/2/2043   EUR   51.683
Kommunekredit       0.869   11/12/2043  SEK   59.332
Hungary Government I1.500   11/17/2050  EUR   49.493
Agence Francaise de 2.302   10/25/2044  USD   64.394
Ringkjoebing Landbob1.100   10/30/2035  EUR   66.206
Landesbank Berlin AG2.058   11/4/2031   EUR   73.320
Hypo-Bank Burgenland1.010   10/29/2049  EUR   59.762
Single Platform Inve0.695   6/25/2039   EUR   60.548
Hypo Vorarlberg Bank1.590   8/25/2050   EUR   44.986
Aktia Bank Oyj      0.800   2/26/2036   EUR   59.918
Natixis SA          2.420   9/29/2035   AUD   66.689
Nederlandse Watersch1.870   11/8/2057   EUR   71.493
City of Hanover Germ1.580   11/17/2042  EUR   74.147
Belfius Bank SA     0.125   6/19/2034   EUR   68.669
Landesbank Hessen-Th0.900   7/12/2034   EUR   72.000
Barclays Bank PLC   1.580   4/12/2039   EUR   71.300
DekaBank Deutsche Gi2.200   3/24/2023   EUR   68.760
DekaBank Deutsche Gi3.250   4/6/2023    EUR   73.540
GTC Magyarorszag Zrt2.600   3/17/2031   HUF   65.640
Futureal Development3.500   11/16/2036  HUF   51.000
AutoWallis Nyrt     3.000   4/15/2030   HUF   64.480
Vorosko Kereskedelmi4.750   1/25/2032   HUF   68.000
MOL Nyrt Kueloenlege4.950   1/26/2032   HUF   70.580
SALVATOR Vermoegensv9.500               EUR   7.900
Communaute Francaise1.010   7/19/2051   EUR   49.951
DZ Bank AG Deutsche 1.250   2/23/2037   EUR   71.374
Russian Foreign Bond5.100   3/28/2035   USD   41.165
Landesbank Hessen-Th2.180   3/17/2042   EUR   72.718
Nederlandse Watersch0.964   6/11/2059   EUR   52.119
AlphaNotes ETP Dac  0.050   12/22/2029  USD   68.823
Region Auvergne-Rhon0.530   9/29/2036   EUR   64.721
Single Platform Inve0.800   12/20/2040  EUR   59.484
Credit Agricole Corp3.200   3/19/2041   AUD   67.970
Credit Agricole Corp11.640  3/24/2027   TRY   66.790
Vodafone Group PLC  4.600   8/9/2046    USD   75.190
Lloyds Bank PLC     2.580   3/28/2039   SEK   72.433
Berner Kantonalbank 0.100   9/30/2039   CHF   67.619
LR Realkredit AS    0.500   10/1/2040   DKK   74.350
Landesbank Hessen-Th0.300   9/17/2030   EUR   74.513
Single Platform Inve1.000   7/8/2034    EUR   70.038
Hypo Vorarlberg Bank0.400   12/22/2031  EUR   63.313
Landesbank Baden-Wue1.100   5/7/2040    EUR   62.747
Caisse des Depots et2.940   3/2/2051    AUD   66.764
Landesbank Hessen-Th0.550   4/9/2031    EUR   74.022
Region Auvergne-Rhon0.650   5/18/2038   EUR   62.565
DZ Bank AG Deutsche 0.500   3/12/2032   EUR   68.494
UBS AG/London       1.860   2/28/2049   EUR   68.288
DZ Bank AG Deutsche 0.710   10/20/2031  EUR   72.240
Bayerische Landesban0.650   10/13/2031  EUR   73.651
Landshypotek Bank AB1.680   1/20/2042   SEK   68.747
Single Platform Inve2.290   7/19/2038   NOK   72.850
Region de Bruxelles-0.930   5/3/2051    EUR   48.486
Uliving@Essex2 Issue0.100   8/31/2063   GBP   64.271
Ile-de-France Mobili1.000   12/2/2043   EUR   59.642
Landesbank Hessen-Th0.900   6/10/2036   EUR   63.906
Nordea Hypotek AB   2.250   10/15/2048  SEK   71.590
Agence Francaise de 2.330   2/10/2041   AUD   64.197
Kingdom of Belgium G0.650   6/22/2071   EUR   39.153
BNG Bank NV         0.562   6/7/2051    EUR   55.275
Raiffeisenbank AS   6.989               EUR   74.713
Single Platform Inve0.955   2/15/2041   EUR   60.837
Hemso Fastighets AB 2.418   11/30/2038  EUR   70.493
Hypo Tirol Bank AG  0.565   2/5/2031    EUR   74.335
Tonon Luxembourg SA 12.500  5/14/2024   USD   0.009
Muenchener Hypotheke0.886   3/26/2043   EUR   62.083
Swedbank Hypotek AB 1.669   2/27/2043   EUR   72.975
Region Auvergne-Rhon0.697   8/2/2036    EUR   66.711
Kuntarahoitus Oyj   1.557   3/29/2052   EUR   73.681
Royal Schiphol Group3.090   7/1/2034    AUD   72.731
Deutsche Pfandbriefb0.500   11/18/2030  EUR   70.349
Single Platform Inve0.656   9/20/2050   EUR   46.725
Cattles Ltd         8.125   7/5/2017    GBP   0.027
Agence France Locale0.330   12/20/2040  EUR   56.680
Nederlandse Watersch1.000   11/24/2050  EUR   57.282
Region Auvergne-Rhon0.493   10/23/2037  EUR   61.950
Santander Internatio1.700   12/12/2049  EUR   42.536
Region Wallonne Belg1.717   2/2/2038    EUR   74.769
AlphaNotes ETP Dac  1.000   9/15/2032   USD   65.847
DZ Bank AG Deutsche 0.300   5/30/2035   EUR   67.322
DZ Bank AG Deutsche 0.500   9/22/2031   EUR   74.812
Bulgaria Government 1.375   9/23/2050   EUR   54.056
Single Platform Inve1.163   5/25/2066   EUR   48.236
Hypo Vorarlberg Bank1.020   1/17/2035   EUR   57.567
Romanian Government 3.375   1/28/2050   EUR   58.270
Northland Resources 4.000   10/15/2020  USD   0.271
AK BARS Bank Via AK 8.000   7/13/2022   USD   31.000
ABN AMRO Bank NV    1.290   3/25/2037   EUR   74.120
Leonteq Securities A7.000   3/29/2023   CHF   55.370
Luzerner Kantonalban6.720   5/12/2023   USD   66.030
Societe Generale SA 16.000  2/29/2024   USD   8.250
Tranzit-Food Baromfi2.000   6/23/2028   HUF   #N/A N/A
Landesbank Baden-Wue1.250   4/24/2039   EUR   65.230
EFG International Fi9.000   8/24/2023   USD   65.760
SG Issuer SA        0.300   2/16/2032   EUR   47.580
SG Issuer SA        0.021   8/15/2033   EUR   65.330
DekaBank Deutsche Gi3.000   6/2/2023    EUR   63.410
Vontobel Financial P6.000   3/24/2023   EUR   67.710
Sberbank of Russia P0.010   11/3/2026   RUB   71.000
Credit Suisse AG/Lon9.000   4/22/2024   USD   25.500
Rosseti Kuban PJSC  10.440  11/21/2025  RUB   75.000
Credit Suisse AG/Lon1.400   11/4/2025   CHF   43.120
Pick Szeged Szalamig2.000   12/6/2029   HUF   62.760
United Kingdom Gilt 0.625   10/22/2050  GBP   42.198
Petromena ASA       9.750   5/24/2016   NOK   0.607
Purple Protected Ass1.600   9/8/2056    EUR   51.513
Espirito Santo Finan4.227   10/27/2024  EUR   0.979
Irish Bank Resolutio4.000   4/23/2018   EUR   33.250
Municipality of Leva0.750   11/17/2036  EUR   66.296
Kuntarahoitus Oyj   0.250   6/28/2040   CAD   41.654
Frankfurter Volksban0.100   7/15/2031   EUR   71.538
DZ Bank AG Deutsche 0.850   2/10/2032   EUR   72.928
Region Auvergne-Rhon0.543   9/28/2036   EUR   64.808
Portugal Obrigacoes 1.150   4/11/2042   EUR   62.970
Region Nouvelle-Aqui0.814   11/22/2044  EUR   55.064
Kreditanstalt fuer W0.613   6/10/2040   EUR   60.207
Bank fuer Kirche und0.800   11/12/2035  EUR   67.482
Norddeutsche Landesb1.350   10/20/2038  EUR   62.574
Societe Nationale SN3.190   4/19/2041   AUD   73.029
Credit Agricole Corp3.100   4/28/2041   AUD   66.894
DLR Kredit A/S      0.500   10/1/2050   DKK   66.219
Credit Suisse AG/Lon4.430   9/25/2035   USD   73.024
Region de Bruxelles-0.845   9/30/2059   EUR   41.628
State of Rhineland-P0.600   10/24/2046  EUR   54.543
Region Wallonne Belg0.808   6/24/2038   EUR   62.954
Norddeutsche Landesb1.420   4/28/2039   EUR   62.119
SCF Capital Designat3.850   4/26/2028   USD   20.461
Region de Bruxelles-0.500   6/22/2040   EUR   57.203
DZ Bank AG Deutsche 0.780   3/5/2030    EUR   72.061
Saechsische Aufbauba0.300   2/18/2042   EUR   52.536
ING Bank NV         1.550   6/23/2039   EUR   74.826
La Banque Postale Ho1.427   2/11/2039   EUR   73.385
Berlin Hyp AG       0.010   11/28/2031  EUR   74.431
Single Platform Inve1.850   2/15/2041   NOK   66.071
Banco Santander SA  1.020   1/4/2034    EUR   70.871
NRW Bank            1.000   6/24/2051   EUR   59.143
BPCE SA             2.730   10/5/2036   AUD   60.950
Heta Asset Resolutio5.030   12/31/2023  EUR   1.500
Single Platform Inve1.762   5/25/2066   EUR   58.139
Banque International1.500   1/20/2037   EUR   71.055
Bayerische Landesban0.770   6/18/2032   EUR   70.695
Akademiska Hus AB   2.600   11/20/2047  SEK   74.752
Caisse des Depots et1.438   5/24/2051   EUR   59.001
Caisse des Depots et1.780   1/15/2048   EUR   66.528
United Kingdom Gilt 1.625   10/22/2071  GBP   50.904
LFA Foerderbank Baye0.160   1/2/2040    EUR   58.321
Centre Hospitalier U0.490   12/1/2036   EUR   65.448
UniCredit SpA       1.050   1/23/2031   EUR   74.533
Banque International0.670   6/29/2030   EUR   71.820
Stadshypotek AB     1.444   4/19/2038   EUR   74.439
AB Financial Product2.468   7/30/2040   EUR   56.749
Muenchener Hypotheke0.420   11/16/2033  EUR   68.779
Kreditanstalt fuer W0.990   2/12/2051   EUR   61.322
Agence Francaise de 1.955   11/21/2053  EUR   74.805
Region Wallonne Belg0.250   12/29/2036  EUR   62.068
Nomura Bank Internat1.150   10/6/2036   EUR   64.301
National Grid Electr3.350   6/10/2036   AUD   73.818
State of Lower Austr0.080   9/22/2031   EUR   74.670
Barclays Bank PLC   0.500   10/1/2031   TRY   11.305
Region Wallonne Belg1.550   4/28/2120   EUR   44.918
Banque International0.500   10/22/2029  EUR   74.169
Credit Agricole CIB 0.540   9/20/2033   EUR   68.419
Bayerische Landesban0.520   11/26/2031  EUR   72.410
Region Bretagne SCI 0.544   12/7/2036   EUR   65.981
Region de Bruxelles-2.410   8/23/2063   EUR   69.558
Sequa Petroleum NV  5.000   4/29/2020   USD   30.250
Credit Agricole Corp2.500   2/20/2048   EUR   73.966
Caisse Francaise de 1.668   2/23/2043   EUR   74.714
Hypo Vorarlberg Bank1.022   7/31/2034   EUR   58.821
Raiffeisenverband Sa1.500   2/1/2038    EUR   73.272
SpareBank 1 SMN     0.190   11/6/2030   EUR   69.255
BPCE SA             1.920   12/9/2030   AUD   69.457
Astana Finance BV   7.875   6/8/2010    EUR   16.000
Landesbank Saar     0.540   11/18/2033  EUR   67.943
Norddeutsche Landesb0.600   12/9/2030   EUR   73.054
State of Lower Austr0.550   11/13/2080  EUR   28.542
Nederlandse Watersch0.190   11/2/2050   EUR   44.264
Gebr Sanders GmbH & 8.750   10/22/2018  EUR   9.375
Caisse Francaise de 0.510   11/19/2040  EUR   59.798
Batigere Grand Est S1.485   10/25/2039  EUR   66.660
Credit Industriel Et1.550   5/15/2035   EUR   74.272
Telia Co AB         3.000   9/25/2064   EUR   70.518
Ville de Marseille  0.711   11/29/2033  EUR   73.896
Pfandbriefzentrale d0.050   10/6/2043   CHF   65.519
Single Platform Inve1.117   5/25/2066   EUR   48.022
Landesbank Hessen-Th2.400   6/9/2036    EUR   59.550
DekaBank Deutsche Gi3.510   4/28/2023   EUR   64.660
Credit Suisse AG/Lon7.500   3/29/2023   CHF   69.930
SG Issuer SA        1.500   1/24/2034   EUR   69.570
UBS AG/London       6.850   7/25/2023   USD   #N/A N/A
Mercedes-Benz Manufa1.500   3/16/2027   HUF   70.000
Leonteq Securities A7.000   9/13/2023   CHF   56.670
DZ Bank AG Deutsche 1.370   12/28/2029  EUR   68.310
VTB Bank PJSC       8.585               USD   25.000
Rosselkhozbank JSC  10.100              RUB   75.000
COFIDUR SA          0.100   12/31/2024  EUR   34.000
Landesbank Hessen-Th1.200   5/17/2034   EUR   73.500
Societe Generale SA 10.000  4/28/2034   USD   65.550
WEB Windenergie AG  3.750   9/26/2026   EUR   0.010
Landesbank Hessen-Th1.350   4/26/2034   EUR   74.200
OR PJSC             11.500  7/28/2024   RUB   3.830
Dr Wiesent Sozial gG7.000               EUR   0.002
UniCredit Bank AG   4.150   5/8/2023    EUR   67.850
Banco Santander SA  0.020   7/23/2031   EUR   73.689
Barclays Bank PLC   2.325   1/2/2041    USD   69.940
IBP Markets Ltd     5.000               GBP   50.909
Republic of Ireland 0.810   7/10/2079   EUR   38.446
Republic of Austria 0.100   7/10/2040   EUR   57.295
Hypo Vorarlberg Bank1.020   7/15/2041   EUR   45.986
Kreditanstalt fuer W1.208   6/17/2051   EUR   66.254
ABN AMRO Bank NV    1.950   12/7/2048   EUR   73.730
Credit Suisse Group 2.455   7/4/2034    EUR   65.804
Department of L'Eure1.110   6/18/2039   EUR   67.115
Single Platform Inve1.233   6/25/2044   EUR   63.579
Landesbank Baden-Wue0.400   12/1/2031   EUR   73.025
Grand Delta Habitat 1.750   10/28/2061  EUR   69.667
Region Provence-Alpe0.753   1/5/2037    EUR   67.603
Societe Publique d'A2.003   9/27/2044   EUR   72.146
Autonomous Community1.442   10/26/2049  EUR   55.611
Citigroup Global Mar2.000   3/21/2037   EUR   74.449
Assistance Publique 1.502   5/9/2044    EUR   67.635
Caisse des Depots et1.474   6/5/2049    EUR   60.193
Region de Bruxelles-0.759   9/20/2049   EUR   47.521
Deutsche Pfandbriefb0.857   9/18/2037   EUR   54.136
Cie de Financement F1.730   5/13/2046   EUR   71.498
BPCE SA             1.850   10/30/2030  AUD   69.488
Credit Agricole SA  1.150   12/24/2030  EUR   74.534
Citigroup Global Mar1.240   2/18/2040   EUR   61.843
DZ Bank AG Deutsche 0.550   3/23/2033   EUR   70.908
Brussels Municipalit0.832   3/29/2041   EUR   60.238
Banque International0.510   2/10/2031   EUR   68.325
Kreditanstalt fuer W0.650   2/24/2041   EUR   63.994
Region Wallonne Belg1.240   5/28/2069   EUR   42.688
United Kingdom Gilt 0.500   10/22/2061  GBP   32.488
HYPO NOE Landesbank 1.655   2/21/2034   EUR   71.954
Single Platform Inve0.810   4/1/2042    EUR   57.879
Allgemeine Sparkasse0.480   5/24/2033   EUR   73.202
Citigroup Global Mar1.200   8/25/2041   EUR   59.526
Single Platform Inve1.170   7/8/2034    EUR   72.672
Grand Delta Habitat 1.500   9/1/2047    EUR   53.477
Nederlandse Watersch1.500   3/10/2042   EUR   71.221
Communaute Francaise1.380   11/7/2046   EUR   59.512
Credit Agricole CIB 0.500   2/23/2033   EUR   69.222
BNG Bank NV         2.000   2/19/2038   AUD   65.546
Single Platform Inve1.460   5/25/2052   EUR   58.992
Landesbank Hessen-Th0.400   1/21/2031   EUR   73.650
Hemso Fastighets AB 0.473   2/18/2030   EUR   73.425
NRW Bank            1.000   2/26/2050   EUR   60.348
Luzerner Kantonalban0.500   7/26/2041   CHF   73.954
Dolphin Drilling ASA4.490   8/28/2019   NOK   0.644
Communaute Francaise2.350   8/18/2062   EUR   70.128
Landesbank Saar     0.650   11/19/2035  EUR   65.162
Kuntarahoitus Oyj   1.155   11/19/2060  EUR   54.852
UBS Group AG        2.210   11/24/2035  USD   69.130
Region Bourgogne-Fra0.270   12/7/2035   EUR   65.589
Credit Agricole CIB 0.400   12/4/2032   EUR   67.879
Single Platform Inve0.924   2/18/2049   EUR   51.698
BNP Paribas SA      1.395   2/12/2035   EUR   69.286
Region of Centre-Val0.712   12/3/2039   EUR   61.475
Operateur de Reseaux2.850   2/3/2045    EUR   74.626
Natixis SA          2.950   10/28/2034  AUD   72.167
Raiffeisen-Landesban0.766   9/17/2031   EUR   71.825
Slovenia Government 0.488   10/20/2050  EUR   42.801
Commerzbank AG      1.046   12/18/2034  EUR   69.164
Commerzbank AG      1.430   1/23/2040   EUR   64.327
Penarian Housing Fin3.212   6/7/2052    GBP   70.690
Landesbank Hessen-Th1.650   5/27/2030   EUR   10.652
Erste Group Bank AG 4.500   11/2/2025   EUR   59.000
DekaBank Deutsche Gi4.000   6/9/2023    EUR   60.820
OR PJSC             13.500  10/22/2025  RUB   9.620
SG Issuer SA        11.170  7/20/2025   SEK   35.420
Leonteq Securities A10.000  3/29/2023   USD   71.720
Danske Bank A/S     6.600   1/9/2027    SEK   74.680
UBS AG              9.000   3/31/2023   USD   #N/A N/A
UBS AG/London       7.500   6/22/2023   USD   70.200
Zurcher Kantonalbank12.000  3/17/2023   CHF   54.390
OR PJSC             16.000  11/26/2025  RUB   18.100
Leonteq Securities A10.000  7/21/2023   CHF   62.230
STAVMAT Epitoanyag K3.000   7/20/2031   HUF   67.100
OR PJSC             16.000  11/22/2025  RUB   22.940
Leonteq Securities A5.200   11/29/2023  CHF   70.450
MET Hungary Solar Pa3.800   12/2/2031   HUF   72.050
Bank Vontobel AG    13.000  3/18/2024   CHF   70.500
Landesbank Baden-Wue5.100   8/25/2023   EUR   58.920
Credit Suisse AG/Lon18.250  3/14/2023   CHF   36.280
Credit Suisse AG/Lon13.300  11/29/2023  USD   38.430
Metal Hungaria Holdi3.000   11/17/2030  HUF   62.500
Credit Suisse AG/Lon9.750   4/27/2023   USD   53.990
SG Issuer SA        1.750   3/17/2034   EUR   72.050
Vontobel Financial P2.858   1/4/2024    EUR   56.120
OR PJSC             12.000  11/14/2024  RUB   0.090
SG Issuer SA        2.250   10/28/2029  EUR   69.340
Erste Group Bank AG 6.750   5/31/2024   EUR   79.800
Landesbank Hessen-Th0.500   8/9/2034    EUR   73.300
Communication Techno5.250   1/27/2032   HUF   65.000
Societe Generale SA 8.000   5/28/2027   USD   40.860
NRW Bank            1.276   2/15/2042   EUR   70.462
Landesbank Baden-Wue0.200   4/16/2031   EUR   72.757
SAG Solarstrom AG   7.500   7/10/2017   EUR   31.000
Landesbank Hessen-Th0.600   3/18/2031   EUR   73.883
Kingdom of Belgium G0.675   7/7/2080    EUR   30.415
Romanian Government 4.000   2/14/2051   USD   68.903
Region de Bruxelles-1.250   1/10/2060   EUR   46.368
BPCE SFH SA         1.229   4/12/2049   EUR   62.248
Credit Suisse AG/Lon1.400   12/20/2030  EUR   68.241
Agence Francaise de 1.805   2/18/2049   EUR   72.059
Hungary Government B3.000   8/21/2030   HUF   69.432
Lehman Brothers Trea2.875   3/14/2013   CHF   0.100
Republic of Ireland 1.100   11/12/2096  EUR   40.253
NRW Bank            1.341   2/17/2039   EUR   73.858
Astana Finance BV   9.000   11/16/2011  USD   15.250
Region Provence-Alpe0.785   6/18/2040   EUR   61.832
Hypo Vorarlberg Bank0.405   3/18/2030   EUR   72.035
Single Platform Inve1.480   7/25/2053   EUR   61.947
Communaute Francaise2.041   4/12/2069   EUR   63.993
DZ Bank AG Deutsche 1.598   10/11/2050  EUR   61.306
Cie de Financement F1.630   5/26/2046   EUR   69.847
HYPO NOE Landesbank 2.950   6/7/2046    EUR   75.463
Communaute Francaise1.120   7/19/2038   EUR   65.560
NRW Bank            0.473   6/23/2049   EUR   55.249
Communaute Francaise0.788   8/30/2049   EUR   48.100
Credit Suisse AG/Lon0.500   1/8/2026    BRL   69.265
Italy Buoni Polienna2.700   3/1/2047    EUR   73.275
Rio Forte Investment4.750   11/10/2015  EUR   2.387
Vasakronan AB       1.770   10/26/2033  NOK   71.820
SpareBank 1 SR-Bank 1.650   2/24/2042   EUR   58.110
Credit Agricole Corp3.020   4/22/2036   AUD   72.167
Region de Bruxelles-0.609   12/3/2049   EUR   44.831
Caisse des Depots et0.820   3/10/2050   EUR   49.185
Single Platform Inve2.080   4/30/2045   EUR   71.710
Landeskreditbank Bad0.730   10/4/2050   EUR   53.411
Citigroup Global Mar2.950   9/29/2041   AUD   71.436
Republic of Poland G1.250   10/25/2030  PLN   69.071
BPCE SA             1.850   2/8/2036    EUR   74.114
Societe Generale SA 2.060   3/12/2031   USD   75.396
DZ Bank AG Deutsche 0.470   6/24/2030   EUR   73.981
Region of Pays de la0.334   3/9/2033    EUR   73.165
Kreditanstalt fuer W0.953   1/24/2042   EUR   67.433
NRW Bank            1.180   3/3/2051    EUR   63.695
Natixis SA          2.800   3/3/2041    USD   70.539
Kuntarahoitus Oyj   1.449   3/1/2061    EUR   65.731
Nomura Bank Internat1.380   1/19/2037   EUR   66.735
Single Platform Inve0.915   2/15/2043   EUR   58.943
KPNQwest NV         10.000  3/15/2012   EUR   0.655
Kreditanstalt fuer W1.208   3/10/2051   EUR   66.190
Morgan Stanley & Co 3.470   1/27/2042   AUD   66.134
Home Invest Belgium 1.850   1/15/2032   EUR   73.324
Landeskreditbank Bad1.017   3/15/2061   EUR   52.754
Cooperatieve Raboban1.099   6/28/2051   EUR   60.088
Bausparkasse Wuesten1.830   4/3/2043    EUR   75.159
Nederlandse Watersch1.486   4/24/2052   EUR   65.361
Bank of Ireland Mort1.501   3/29/2038   EUR   74.401
Raiffeisen-Landesban1.470   5/3/2069    EUR   55.778
Region Bourgogne-Fra0.945   5/20/2039   EUR   65.297
Ukraine Government I8.994   2/1/2026    USD   18.543
Santander Consumer B8.090               NOK   56.529
Arkea Public Sector 1.642   5/18/2043   EUR   73.279
Region de Bruxelles-1.000   4/21/2051   EUR   50.635
Pfandbriefbank schwe0.125   8/17/2040   CHF   70.601
Single Platform Inve1.370   7/25/2053   EUR   59.216
Bausparkasse Wuesten0.485   6/25/2040   EUR   59.367
Landesbank Baden-Wue0.490   5/28/2031   EUR   73.111
Citigroup Global Mar0.200   1/19/2031   EUR   71.371
SAir Group          6.250   10/27/2002  CHF   11.302
Bayerische Landesban1.680   12/18/2037  EUR   68.448
Raiffeisenlandesbank0.658   9/29/2031   EUR   71.138
Landesbank Hessen-Th0.600   4/9/2035    EUR   63.326
Landesbank Baden-Wue0.140   10/20/2031  EUR   71.245
Region Wallonne Belg2.168   7/26/2047   EUR   69.916
Caisse des Depots et1.920   6/15/2048   EUR   66.923
Ile-de-France Mobili1.200   4/8/2050    EUR   54.820
Ville de Paris      0.963   12/6/2051   EUR   49.274
DZ Bank AG Deutsche 0.500   3/2/2038    EUR   59.246
State of North Rhine1.650   5/16/2047   EUR   71.641
Region de Bruxelles-2.344   2/14/2053   EUR   70.285
Kommunalkredit Austr1.183   6/2/2031    EUR   65.959
Ville de Marseille  1.712   12/6/2039   EUR   74.396
Agence Francaise de 2.114   9/8/2034    AUD   71.618
NIBC Bank NV        0.410   1/27/2031   EUR   68.191
Regie Autonome des T0.953   5/24/2052   EUR   53.801
State of Lower Austr0.585   10/11/2049  EUR   47.999
Lloyds Banking Group0.995   2/15/2038   JPY   74.128
Vacse AB            2.067   4/20/2034   SEK   74.466
Banque International0.775   11/18/2032  EUR   61.536
Barclays Bank PLC   1.235   11/27/2040  EUR   50.950
Landeskreditbank Bad0.170   12/10/2035  EUR   66.899
Region Bourgogne-Fra0.300   12/3/2040   EUR   54.421
Region de Bruxelles-0.283   10/24/2033  EUR   69.662
Sveriges Sakerstalld0.928   11/7/2034   SEK   71.509
Agrokor dd Via Aquar4.921   8/8/2017    EUR   14.625
Specialfastigheter S1.180   12/2/2044   SEK   55.621
HSBC Continental Eur1.410   12/12/2039  EUR   59.244
Batigere Grand Est S1.550   11/14/2039  EUR   67.338
Communaute Francaise0.785   8/24/2050   EUR   47.287
Landesbank Hessen-Th0.650   10/1/2031   EUR   73.156
NRW Bank            1.245   9/7/2060    EUR   57.770
Landesbank Hessen-Th0.700   10/29/2035  EUR   63.021
Emissionszentrale fu0.100   11/2/2038   CHF   74.274
Kreditanstalt fuer W1.000   10/20/2050  EUR   61.805
Natixis SA          3.210   1/29/2050   AUD   63.558
Petromena ASA       10.850  11/19/2018  USD   0.622
Agrokor dd          9.125   2/1/2020    EUR   15.000
Single Platform Inve1.051   4/1/2042    EUR   61.184
Espirito Santo Finan5.125   5/30/2016   EUR   0.528
Cooperatieve Raboban1.300   3/28/2039   EUR   72.914
Single Platform Inve1.600   2/15/2041   EUR   69.452
UBS AG/London       5.520   4/29/2041   USD   47.270
Leonteq Securities A7.600   3/9/2023    EUR   29.460
Otthon Centrum Holdi3.000   4/19/2031   HUF   68.500
UBS AG/London       7.000   4/21/2023   USD   37.050
BNP Paribas Issuance3.400   1/23/2024   EUR   72.450
UniCredit Bank AG   15.050  4/28/2023   EUR   41.550
DZ Bank AG Deutsche 4.050   6/23/2023   EUR   52.090
UBS AG/London       8.750   7/12/2023   USD   59.150
Leonteq Securities A8.000   3/8/2023    CHF   55.100
DZ Bank AG Deutsche 3.900   3/24/2023   EUR   62.240
Landesbank Hessen-Th1.000   4/30/2035   EUR   66.700
Nordea Bank Abp     4.100   7/20/2023   SEK   50.835
Landesbank Hessen-Th1.000   12/28/2035  EUR   62.150
UBS AG/London       7.750   4/29/2024   CHF   69.250
WEB Windenergie AG  6.250               EUR   90.000
Duna House Holding N3.000   9/2/2030    HUF   72.830
MetMax Europe Zrt   3.000   12/11/2030  HUF   65.700
Pannonia Bio Ltd    2.400   9/18/2029   HUF   65.480
LP Portfolio Vagyonk2.640   1/8/2030    HUF   69.100
Santander Internatio1.150   4/8/2041    EUR   51.424
Credit Suisse AG/Lon2.100   3/15/2037   EUR   55.158
Landesbank Baden-Wue0.200   5/7/2031    EUR   72.632
Single Platform Inve1.840   11/5/2040   EUR   72.865
Caisse des Depots et1.365   11/2/2051   EUR   57.394
Single Platform Inve1.830   11/5/2040   EUR   72.735
Single Platform Inve0.465   2/27/2035   EUR   64.393
Region de Bruxelles-1.065   6/22/2047   EUR   55.123
de Volksbank NV     1.630   1/14/2039   EUR   74.874
NRW Bank            0.120   2/24/2033   EUR   72.986
Societe Generale SA 5.400   11/17/2037  USD   49.180
Republic of Ireland 1.020   9/10/2086   EUR   41.588
Citigroup Global Mar1.010   12/1/2034   EUR   67.746
Region Occitanie    0.728   11/16/2037  EUR   65.017
Deutschsprachige Gem1.004   7/1/2036    EUR   70.873
Landesbank Hessen-Th1.150   11/24/2036  EUR   65.932
Muenchener Hypotheke0.867   2/25/2047   EUR   61.453
Norske Skogindustrie2.000   12/30/2115  EUR   0.113
Vasakronan AB       1.870   6/3/2039    EUR   55.617
State of North Rhine1.267   9/16/2051   EUR   62.584
Communaute Francaise1.363   4/16/2040   EUR   65.848
HSBC Continental Eur1.200   9/26/2039   EUR   57.195
Canton of Neuchatel 0.100   10/29/2049  CHF   58.658
Landesbank Hessen-Th1.050   5/28/2036   EUR   65.367
Landesbank Hessen-Th0.750   4/9/2035    EUR   64.676
Caisse des Depots et1.290   5/5/2051    EUR   56.534
Region Wallonne Belg2.100   6/26/2048   EUR   72.199
Barclays Bank PLC   7.830   7/26/2038   MXN   67.044
Swedbank Hypotek AB 1.565   8/17/2043   EUR   71.861
Standard Chartered B3.040   1/18/2042   USD   73.380
Norddeutsche Landesb0.675   2/25/2033   EUR   67.444
DZ Bank AG Deutsche 0.520   6/23/2031   EUR   71.439
Credit Agricole Corp0.310   2/24/2033   EUR   67.660
Communaute Francaise1.617   2/7/2039    EUR   69.908
Heta Asset Resolutio4.875   12/31/2023  EUR   1.500
Swedbank Hypotek AB 1.445   3/29/2038   EUR   74.036
Region Provence-Alpe0.394   9/1/2036    EUR   65.037
Bank of Ireland Mort1.574   3/31/2043   EUR   71.484
Landesbank Hessen-Th1.150   6/23/2036   EUR   66.270
Banque et Caisse d'E1.220   5/26/2041   EUR   70.343
Santander Consumer B8.090               NOK   57.504
Caisse des Depots et0.916   1/20/2051   EUR   52.082
Land Berlin         0.500   6/19/2047   EUR   55.991
Raiffeisen-Landesban0.550   1/20/2031   EUR   72.916
Caisse des Depots et0.678   7/23/2040   EUR   58.710
Autonomous Community1.550   5/11/2051   EUR   55.591
Bayerische Landesban1.440   11/3/2033   EUR   73.228
Kuntarahoitus Oyj   0.448   3/19/2040   EUR   57.075
Erdoel-Lagergesellsc1.824   10/18/2038  EUR   73.801
Bank of Ireland Mort1.548   4/17/2043   EUR   71.089
Barclays Bank PLC   1.450   9/24/2038   MXN   25.205
BNG Bank NV         2.280   10/17/2048  SEK   73.949
NRW Bank            0.550   7/23/2035   EUR   69.424
Hungary Government I1.625   4/28/2032   EUR   72.630
DZ Bank AG Deutsche 0.800   2/2/2037    EUR   66.712
Oberoesterreichische0.705   1/29/2036   EUR   60.556
Swedbank Hypotek AB 1.595   11/20/2043  EUR   71.143
Liga Bank eG Regensb0.760   12/8/2036   EUR   65.365
Societe Du Grand Par2.145   11/26/2068  EUR   61.685
Regie Autonome des T1.900   6/26/2048   EUR   72.219
Bayerische Landesban0.760   12/1/2031   EUR   74.025
Department of L'Eure0.643   8/31/2041   EUR   57.452
Standard Chartered B0.520   1/22/2041   JPY   61.070
Norddeutsche Landesb2.000   1/31/2035   EUR   73.395
Akademiska Hus AB   1.252   2/13/2043   SEK   58.603
Santander Internatio1.320   8/8/2039    EUR   55.876
BPCE SFH SA         0.843   7/19/2044   EUR   58.915
Cie de Financement F0.900   7/18/2058   EUR   49.743
Deutsche Apotheker-u1.770   12/21/2046  EUR   75.225
NRW Bank            0.650   7/20/2037   EUR   70.495
Muenchener Hypotheke1.750   12/19/2046  EUR   73.600
BNP Paribas SA      3.950   7/11/2039   AUD   70.683
Kreditanstalt fuer W0.210   11/18/2037  EUR   61.541
Credit Agricole Corp11.550  1/28/2026   TRY   72.693
Landeskreditbank Bad0.610   11/17/2050  EUR   53.412
DLR Kredit A/S      0.500   10/1/2053   DKK   64.384
Metropole de Lyon   0.466   12/7/2046   EUR   47.096
Caisse des Depots et1.005   11/5/2050   EUR   51.984
Region de Bruxelles-0.976   11/4/2058   EUR   41.909
HSBC Continental Eur1.300   10/23/2039  EUR   58.202
Rio Forte Investment3.900   7/10/2014   USD   2.900
Aargau Verkehr AG   0.270   11/29/2049  CHF   69.956
HSBC Continental Eur0.800   12/13/2034  EUR   63.078
DekaBank Deutsche Gi1.080   12/9/2039   EUR   64.623
Single Platform Inve1.200   11/15/2037  EUR   67.354
Societe Wallonne de 1.066   9/18/2046   EUR   50.489
Kreditanstalt fuer W1.075   12/20/2049  EUR   64.056
Lloyds Bank PLC     2.637   1/16/2040   AUD   65.609
Rikshem AB          2.900   1/23/2035   AUD   71.180
Lehman Brothers Trea11.750  3/1/2010    EUR   0.100
Lehman Brothers Trea6.250   9/5/2011    EUR   0.100
Region Auvergne-Rhon1.832   5/6/2042    EUR   72.131
Landesbank Hessen-Th1.000   3/6/2035    EUR   64.500
UBS AG/London       18.000  4/8/2024    CHF   68.500
Landesbank Hessen-Th1.300   9/2/2036    EUR   60.800
Wingholding Zrt     3.000   9/22/2031   HUF   61.900
WEB Windenergie AG  2.250   9/25/2028   EUR   0.010
Landesbank Hessen-Th1.400   3/5/2036    EUR   62.700
Opus Global Nyrt    3.200   4/29/2031   HUF   71.000
Greenergy Holding Va3.000   9/21/2031   HUF   65.676
Leonteq Securities A30.000  9/1/2023    CHF   55.700
Landesbank Hessen-Th1.500   3/10/2037   EUR   65.800
Raiffeisen Schweiz G5.500   2/7/2024    CHF   75.460
UBS AG/London       7.250   12/29/2023  CHF   66.350
Landesbank Hessen-Th4.984   1/26/2037   EUR   64.600
Landesbank Hessen-Th1.000   9/3/2035    EUR   64.350
Russian Railways JSC12.770  5/30/2040   RUB   50.010
Societe Generale SA 20.000  8/31/2023   USD   9.250
Credit Suisse AG/Lon14.750  8/18/2023   USD   58.880
Senivita Social Esta8.500   6/30/2025   EUR   0.020
SG Issuer SA        2.100   8/23/2033   EUR   21.410
DekaBank Deutsche Gi3.350   4/8/2024    EUR   67.510
Societe Generale SA 18.000  8/1/2024    USD   17.500
DekaBank Deutsche Gi3.100   7/21/2023   EUR   59.700
DekaBank Deutsche Gi2.100   8/11/2023   EUR   68.870
UBS AG/London       16.250  7/7/2023    USD   73.200
Raiffeisen Schweiz G6.700   9/6/2023    USD   56.500
Bank Julius Baer & C7.000   9/12/2023   USD   74.050
Landesbank Hessen-Th1.000   10/14/2036  EUR   61.750
Credit Suisse AG/Lon17.250  3/14/2023   CHF   72.930
Bank Vontobel AG    8.500   6/26/2023   EUR   69.700
Infogroup Holding Kf3.000   5/20/2031   HUF   65.050
UBS AG/London       15.000  4/14/2023   USD   62.300
Mostotrest PJSC     0.010   7/29/2026   RUB   63.840
DekaBank Deutsche Gi3.250   8/11/2023   EUR   71.430
Corner Banca SA     8.000   10/11/2023  CHF   37.400
Leonteq Securities A18.000  5/2/2023    CHF   39.200
Raiffeisen Bank Inte10.000  5/31/2024   EUR   76.440
Hell Energy Magyaror3.000   7/28/2031   HUF   68.300
Raiffeisen Bank Inte7.500   9/1/2023    EUR   52.870
OR PJSC             12.600  9/28/2025   RUB   5.600
BNP Paribas Issuance3.300   7/1/2030    EUR   63.180
Market Epito Zrt    2.950   10/22/2029  HUF   68.000
B+N Referencia Ipari2.900   12/20/2029  HUF   68.100
DZ Bank AG Deutsche 1.598   10/11/2050  EUR   65.720
VTB Bank PJSC       7.600   4/2/2031    RUB   64.000
Erste Group Bank AG 7.500   11/29/2024  EUR   56.550
UniCredit Bank AG   4.900   5/22/2023   EUR   70.730
Pongs & Zahn AG     8.500               EUR   0.002
Landesbank Hessen-Th1.000   3/13/2035   EUR   65.800
OR PJSC             11.000  12/29/2024  RUB   3.070
Erste Group Bank AG 7.750   9/30/2024   EUR   67.950
Baromfi-Coop Termelo2.700   11/20/2026  HUF   70.100
Russian Railways JSC9.390   2/28/2040   RUB   50.010
Single Platform Inve0.950   2/15/2044   EUR   58.204
Credit Agricole Corp2.750   12/12/2034  AUD   71.972
Kreditanstalt fuer W1.142   2/15/2042   EUR   70.001
Landesbank Hessen-Th0.900   5/12/2036   EUR   63.995
Landeskreditbank Bad0.812   12/16/2060  EUR   46.833
Raiffeisenlandesbank1.480   2/17/2042   EUR   71.230
Muenchener Hypotheke1.275   2/11/2042   EUR   69.984
Assistance Publique 1.665   4/10/2049   EUR   63.182
Landesbank Hessen-Th1.000   4/28/2036   EUR   64.967
Landesbank Baden-Wue0.300   8/9/2030    EUR   74.133
Landesbank Baden-Wue0.150   8/11/2031   EUR   71.721
Caisse Francaise de 0.865   2/17/2042   EUR   63.173
Credit Suisse AG/Lon2.000   5/17/2029   USD   73.204
Barclays Bank PLC   2.800   10/28/2036  USD   74.779
Landesbank Baden-Wue0.200   7/30/2030   EUR   75.007
Republic of Ireland 1.210   10/27/2111  EUR   40.951
Morgan Stanley & Co 3.100   10/28/2041  AUD   62.559
Credit Suisse AG/Lon1.200   12/20/2030  EUR   67.069
Citigroup Global Mar2.000   3/25/2039   EUR   71.281
Societe Generale SA 1.040   3/25/2041   EUR   58.692
BNG Bank NV         0.772   8/5/2050    EUR   51.739
Region de Bruxelles-0.640   7/20/2045   EUR   50.959
Credit Agricole CIB 0.810   11/1/2033   EUR   69.922
Wirtschafts- und Inf0.650   2/8/2039    EUR   66.504
Espirito Santo Finan5.050   11/15/2025  EUR   0.622
Caisse des Depots et0.859   3/2/2041    EUR   59.787
Muenchener Hypotheke1.495   10/5/2050   EUR   63.258
National Grid Electr2.037   2/15/2039   EUR   71.615
BNP Paribas SA      2.400   6/14/2048   EUR   73.789
Credit Industriel Et0.900   2/4/2041    EUR   59.253
Credit Agricole CIB 0.550   8/11/2031   EUR   73.354
Kuntarahoitus Oyj   0.185   8/2/2033    EUR   72.224
Landesbank Baden-Wue1.300   6/21/2049   EUR   58.005
Canton of Neuchatel 0.300   7/19/2039   CHF   74.305
Heta Asset Resolutio3.177   12/31/2023  EUR   1.541
DZ Bank AG Deutsche 1.030   2/23/2034   EUR   74.766
Bayerische Landesbod0.700   6/12/2037   EUR   67.461
NRW Bank            1.244   4/6/2051    EUR   64.161
LBI ehf             2.250   2/14/2011   CHF   10.125
Kreditanstalt fuer W1.175   4/14/2051   EUR   65.665
Natixis SA          1.350   6/26/2039   EUR   65.423
Landesbank Hessen-Th1.448   9/17/2038   EUR   74.106
Nederlandse Watersch0.700   10/25/2050  EUR   52.098
ING Bank NV         2.550   10/15/2031  AUD   77.492
Credit Industriel Et1.170   1/28/2037   EUR   68.845
Region Provence-Alpe0.393   8/26/2036   EUR   65.651
Landeskreditbank Bad1.236   5/22/2045   EUR   66.593
DZ Bank AG Deutsche 0.650   12/22/2036  EUR   65.067
Landesbank Hessen-Th0.850   9/2/2036    EUR   63.114
Credit Agricole SA/L1.770   4/26/2035   EUR   74.460
Cie de Financement F1.270   4/26/2039   EUR   70.827
Swiss Confederation 0.500   5/30/2058   CHF   72.514
BPCE SFH SA         1.186   5/9/2039    EUR   69.266
Cie de Financement F1.101   5/17/2039   EUR   68.740
Single Platform Inve0.950   2/5/2033    EUR   72.813
Deutsche Bank AG/Lon0.500   10/18/2038  MXN   16.313
Vasakronan AB       2.777   4/12/2039   SEK   74.149
Salzburger Landes-Hy1.270   9/14/2035   EUR   73.749
DZ Bank AG Deutsche 0.800   9/16/2031   EUR   72.621
Caisse Francaise de 1.141   9/21/2046   EUR   63.081
Region Wallonne Belg1.305   9/29/2041   EUR   64.669
Ringkjoebing Landbob1.875   6/6/2039    EUR   67.994
O1 Properties Financ0.500   9/27/2028   USD   5.235
Danske Bank A/S     0.805   8/12/2036   EUR   68.814
La Banque Postale Ho1.202   4/29/2039   EUR   70.389
HSBC Continental Eur2.890   9/11/2039   AUD   65.864
Cie de Financement F1.300   6/28/2036   EUR   73.745
Caisse des Depots et1.106   9/30/2049   EUR   53.478
Wirtschafts- und Inf0.138   8/23/2044   EUR   49.312
Landesbank Hessen-Th1.235   12/10/2049  EUR   63.492
Norske Skogindustrie7.000   12/30/2026  EUR   0.010
Deutsche Pfandbriefb0.765   9/12/2036   EUR   55.065
DekaBank Deutsche Gi1.850   3/20/2045   EUR   66.062
Communaute Francaise0.961   1/7/2047    EUR   56.427
Caisse des Depots et2.700   4/28/2041   AUD   68.070
Department of Loiret0.550   12/18/2045  EUR   49.733
Renovables Atlasol S2.200   12/31/2038  EUR   71.798
BNP Paribas SA      3.310   2/27/2040   AUD   62.888
Metropole de Lyon   0.376   12/22/2044  EUR   48.622
BNG Bank NV         1.603   3/19/2048   EUR   67.773
Sparekassen Bredebro3.750   4/15/2031   DKK   70.336
Metropole de Lyon   0.500   12/28/2048  EUR   44.798
Raiffeisenlandesbank2.310   2/27/2040   EUR   66.963
Metropole de Lyon   0.500   12/28/2049  EUR   43.518
SR-Boligkreditt AS  1.570   10/4/2038   EUR   74.809
Rikshem AB          3.250   5/31/2041   AUD   66.585
Landesbank Baden-Wue0.300   6/18/2031   EUR   73.071
Kuntarahoitus Oyj   1.150   9/24/2051   EUR   63.829
DZ Bank AG Deutsche 1.000   1/12/2032   EUR   73.760
Communaute Francaise2.177   8/17/2068   EUR   65.930
Societe Generale SA 3.700   10/23/2037  USD   72.514
Nederlandse Watersch0.781   10/18/2050  EUR   53.545
Berlin Hyp AG       1.057   2/21/2059   EUR   56.717
Hamburgische Investi0.380   2/24/2042   EUR   58.819
Kreditanstalt fuer W0.175   3/8/2032    EUR   74.229
KPNQwest NV         8.875   2/1/2008    EUR   0.680
Muenchener Hypotheke1.860   8/17/2048   EUR   73.236
Landesbank Baden-Wue0.360   7/9/2030    EUR   74.664
Landesbank Baden-Wue0.230   7/9/2031    EUR   72.471
Ville de Paris      1.720   8/23/2047   EUR   67.925
Goldman Sachs Intern2.520   3/3/2036    USD   70.257
Region de Bruxelles-1.532   8/16/2038   EUR   72.526
City of Amsterdam Ne1.359   2/26/2044   EUR   69.019
Lloyds Bank PLC     2.280   1/29/2044   EUR   70.792
Credit Agricole Corp3.200   3/11/2036   AUD   74.123
Banco Santander SA  2.010   3/7/2034    EUR   75.425
MMB SCF SACA        1.500   3/1/2039    EUR   73.984
Italy Buoni Polienna1.500   4/30/2045   EUR   57.762
Region de Bruxelles-1.510   3/15/2039   EUR   71.435
Single Platform Inve1.301   6/25/2044   EUR   61.542
Agence Francaise de 1.833   2/26/2052   EUR   71.251
Barclays Bank PLC   3.020   3/26/2051   USD   67.321
Landesbank Baden-Wue0.250   11/8/2030   EUR   74.981
Single Platform Inve3.000   6/21/2047   USD   71.329
Vasakronan AB       2.277   3/11/2039   EUR   60.337
Landesbank Baden-Wue0.300   3/17/2033   EUR   68.107
Landesbank Hessen-Th0.900   3/4/2032    EUR   74.559
Landesbank Hessen-Th0.820   12/17/2035  EUR   63.934
Caisse des Depots et1.902   9/11/2048   EUR   67.722
Citigroup Global Mar1.300   1/31/2037   EUR   67.395
Landesbank Baden-Wue0.200   3/26/2031   EUR   72.882
Region de Bruxelles-0.900   6/28/2046   EUR   53.220
Agence Francaise de 1.760   2/19/2047   EUR   72.878
Landesbank Hessen-Th0.950   4/9/2036    EUR   64.540
Credit Agricole SA  3.450   3/4/2041    AUD   56.163
Deutsche Bank AG    0.700   10/7/2031   EUR   70.663
HYPO NOE Landesbank 2.080   10/5/2037   EUR   70.328
Communaute Francaise1.920   8/8/2048    EUR   67.273
Landesbank Hessen-Th0.350   1/20/2031   EUR   73.119
Assistance Publique 1.800   4/10/2048   EUR   66.248
Landesbank Hessen-Th0.510   3/10/2032   EUR   70.805
Deutsche Bank Luxemb2.386   4/27/2029   EUR   74.415
Natixis SA          2.700   5/18/2036   USD   73.949
Natixis SA          2.520   8/24/2036   AUD   65.913
Deutsche Bank AG    0.650   6/3/2031    EUR   71.458
BNP Paribas SA      3.590   7/20/2040   AUD   66.482
Saastopankkien Kesku0.975   8/18/2034   EUR   63.391
Lehman Brothers Trea4.050   9/16/2008   EUR   0.100
Societe Wallonne de 0.913   7/31/2040   EUR   53.708
Deutsche Bahn Financ1.520   7/3/2035    SEK   72.746
Norddeutsche Landesb1.410   7/7/2037    EUR   64.373
Specialfastigheter S2.205   10/11/2038  SEK   74.411
Nederlandse Watersch1.370   3/23/2065   EUR   54.375
BNG Bank NV         1.880   4/24/2048   EUR   71.602
Region Bourgogne-Fra0.841   5/12/2037   EUR   68.195
Kuntarahoitus Oyj   1.220   3/27/2060   EUR   60.404
Societe Generale SA 2.750   3/12/2040   AUD   57.823
Societe Nationale SN2.931   1/14/2051   AUD   66.100
Region of Centre-Val0.552   5/12/2033   EUR   74.904
Region Provence-Alpe1.547   11/29/2038  EUR   71.770
Nederlandse Watersch1.674   11/27/2047  EUR   73.001
Tonon Luxembourg SA 9.250   1/24/2020   USD   1.721
State of Rhineland-P0.872   10/31/2036  EUR   72.620
DZ Bank AG Deutsche 0.420   2/17/2033   EUR   70.227
Societe Generale SA 2.050   2/22/2031   AUD   70.713
Landesbank Baden-Wue0.100   3/5/2031    EUR   72.342
Kreditanstalt fuer W0.680   2/23/2051   EUR   57.830
Credit Agricole Corp1.830   2/4/2031    AUD   74.025
BPCE SFH SA         1.558   1/17/2039   EUR   74.648
NRW Bank            1.022   12/23/2041  EUR   67.069
Single Platform Inve1.120   7/25/2045   JPY   67.063
Landesbank Hessen-Th0.580   6/11/2031   EUR   73.378
Deutsche Bank AG    2.010   12/10/2052  EUR   63.926
Goldman Sachs Intern2.076   7/27/2036   EUR   74.950
Santander Internatio1.365   1/28/2061   EUR   39.653
Region Wallonne Belg0.850   1/26/2071   EUR   35.140
La Banque Postale Ho1.475   12/17/2038  EUR   73.958
BPCE SFH SA         1.529   12/14/2038  EUR   73.879
Kommunekredit       1.000   4/23/2035   SEK   73.811
NRW Bank            0.605   12/14/2033  EUR   74.941
Region Hauts-de-Fran0.361   2/18/2041   EUR   54.777
Deutsche Bank Luxemb1.560   10/6/2028   EUR   74.235
Republic of Ireland 2.000   6/29/2063   EUR   65.290
DZ Bank AG Deutsche 1.000   12/1/2031   EUR   73.995
UBS AG/London       0.120   5/25/2040   MXN   13.312
Single Platform Inve1.425   5/25/2052   EUR   59.950
State of Saxony-Anha1.808   5/15/2048   EUR   74.108
Cooperatieve Raboban0.500   8/21/2028   MXN   56.469
Single Platform Inve1.150   5/25/2066   EUR   48.722
French Republic Gove0.750   5/25/2052   EUR   51.474
Landesbank Hessen-Th0.850   3/12/2035   EUR   65.757
Credit Mutuel Arkea 0.730   10/14/2036  EUR   55.850
Willhem AB          1.824   10/18/2038  SEK   64.665
Ville de Rennes     0.505   10/22/2034  EUR   70.066
Italy Buoni Polienna1.450   3/1/2036    EUR   69.946
BPCE SA             2.450   2/24/2035   AUD   61.309
Bayerische Landesban3.180   2/16/2038   EUR   66.366
Nederlandse Watersch2.032   1/23/2058   EUR   74.834
Communaute Francaise1.652   1/26/2038   EUR   72.104
Communaute Francaise1.675   1/24/2039   EUR   73.353
DNB Boligkreditt AS 1.533   1/27/2042   EUR   70.696
HSBC Continental Eur2.220   1/24/2048   EUR   63.136
Grupo Isolux Corsan 0.250   12/30/2018  EUR   0.157
BPCE SFH SA         1.403   1/13/2039   EUR   72.252
Kingdom of Belgium G0.400   6/22/2040   EUR   59.402
Single Platform Inve1.090   11/30/2033  EUR   71.957
Kreditanstalt fuer W0.951   9/9/2050    EUR   56.091
Single Platform Inve0.700   9/20/2041   EUR   57.414
Oberoesterreichische0.763   12/15/2050  EUR   54.716
Metropole de Lyon   0.540   12/7/2050   EUR   43.054
LFA Foerderbank Baye0.250   9/30/2039   EUR   59.987
LFA Foerderbank Baye0.010   12/15/2033  EUR   69.875
BPCE SA             2.285   12/3/2035   AUD   58.153
Metropole de Lyon   0.462   12/7/2045   EUR   48.467
BPCE SA             2.315   11/19/2035  AUD   58.475
Ministeries Van de V0.600   11/19/2055  EUR   35.932
Credit Agricole CIB 0.900   10/25/2031  EUR   74.242
Caisse des Depots et0.750   11/6/2048   EUR   49.971
Societe Generale SA 2.900   10/24/2039  AUD   59.668
BPCE SFH SA         1.775   3/11/2042   EUR   74.302
Kreditanstalt fuer W0.788   11/4/2039   EUR   67.277
Nationwide Building 0.750   5/8/2035    EUR   71.474
ABN AMRO Bank NV    1.425   4/17/2045   EUR   66.764
HSBC Bank PLC       10.300  12/10/2024  TRY   71.263
Kreditanstalt fuer W1.030   12/6/2049   EUR   63.332
Santander Internatio1.180   12/5/2034   EUR   62.922
Nederlandse Watersch1.200   11/26/2049  EUR   61.694
Kreditanstalt fuer W0.885   11/14/2039  EUR   68.134
Single Platform Inve1.156   2/12/2041   EUR   63.336
Communaute Francaise0.800   8/24/2049   EUR   49.526
Raiffeisen Bank Inte0.430   9/9/2030    EUR   70.342
Caisse des Depots et1.075   9/15/2050   EUR   53.209
Landesbank Baden-Wue0.590   10/7/2032   EUR   70.249
Berlin Hyp AG       0.130   9/29/2032   EUR   72.458
Region of Pays de la0.448   12/20/2039  EUR   59.543
Nederlandse Watersch1.080   10/26/2050  EUR   58.057
NRW Bank            0.090   10/26/2032  EUR   73.550
UniCredit Bank AG   0.310   10/15/2035  EUR   66.587
Hungary Government B3.000   4/25/2041   HUF   51.329
Communaute Francaise1.367   1/20/2070   EUR   55.557
LBI ehf             7.431               USD   0.001
Lehman Brothers Trea4.600   10/11/2017  ILS   0.100
Banco Espirito Santo10.000  12/6/2021   EUR   0.329
Pescanova SA        8.750   2/17/2019   EUR   0.319
Agrokor dd          8.875   2/1/2020    USD   15.000
Landesbank Hessen-Th2.400   3/22/2052   EUR   73.308
Single Platform Inve1.785   2/15/2041   EUR   73.414
Raiffeisen Switzerla7.000   5/3/2023    CHF   48.920
Zurcher Kantonalbank19.000  4/6/2023    CHF   78.260
DZ Bank AG Deutsche 0.950   12/30/2030  EUR   74.560
Raiffeisen Schweiz G7.000   9/20/2023   CHF   58.900
Societe Generale SA 16.000  7/3/2024    USD   19.130
Landesbank Hessen-Th2.000   3/10/2037   EUR   69.600
Luzerner Kantonalban12.200  7/17/2023   CHF   76.510
Raiffeisen Schweiz G9.000   3/10/2023   CHF   48.440
Landesbank Hessen-Th1.100   3/12/2036   EUR   62.900
Societe Generale SA 12.000  7/14/2026   USD   22.880
Luzerner Kantonalban3.500   8/30/2023   USD   55.840
Raiffeisen Schweiz G7.000   3/17/2023   CHF   67.710
Leonteq Securities A9.000   5/8/2023    CHF   66.760
Metal Hungaria Holdi3.500   11/16/2031  HUF   68.000
Swissquote Bank SA  20.000  8/29/2023   CHF   71.370
Credit Suisse AG/Lon9.500   3/7/2023    CHF   34.630
VTB Bank PJSC       3.750               EUR   38.000
Landesbank Hessen-Th1.500   10/20/2036  EUR   61.500
Zurcher Kantonalbank18.100  4/26/2023   CHF   62.340
Credit Suisse AG/Lon1.000   12/20/2027  EUR   #N/A N/A
DZ Bank AG Deutsche 1.400   12/30/2030  EUR   74.320
Region of Chelyabins6.000   12/17/2027  RUB   62.060
Kardan NV           6.325   2/21/2021   ILS   3.000
Skandinaviska Enskil5.050   1/15/2025   SEK   #N/A N/A
DZ Bank AG Deutsche 1.140   12/30/2030  EUR   72.380
Single Platform Inve0.815   4/1/2042    EUR   56.800
Single Platform Inve1.413   3/20/2051   EUR   59.559
Single Platform Inve1.235   12/20/2050  EUR   56.851
Landesbank Hessen-Th1.150   3/9/2037    EUR   65.606
Kuntarahoitus Oyj   1.197   4/6/2051    EUR   64.893
Kommunekredit       2.180   7/16/2040   AUD   62.317
Erdoel-Lagergesellsc1.281   9/30/2036   EUR   70.757
LFA Foerderbank Baye0.250   3/19/2037   EUR   65.410
Single Platform Inve0.901   2/15/2041   EUR   60.933
Rena GmbH           8.250   7/11/2018   EUR   0.055
Region Wallonne Belg1.222   6/24/2080   EUR   43.086
Hypo Vorarlberg Bank0.480   3/26/2031   EUR   67.792
Lehman Brothers Trea4.984   11/2/2035   EUR   0.100
UBS AG/London       3.327   11/23/2025  EUR   58.500
Caisse des Depots et1.930   3/6/2048    EUR   69.988
Citigroup Global Mar2.500   2/25/2036   USD   73.232
Goldman Sachs Intern2.500   7/26/2048   EUR   74.723
Communaute Francaise2.500   7/6/2087    EUR   70.704
Muenchener Hypotheke1.692   11/6/2051   EUR   65.964
Banque International0.750   4/15/2031   EUR   69.474
Department of L'Eure0.959   11/25/2037  EUR   68.330
DekaBank Deutsche Gi0.370   12/16/2030  EUR   75.724
Bank fuer Kirche und0.770   10/12/2035  EUR   67.343
Nationwide Building 1.618   1/28/2041   EUR   73.671
Department of Val d'0.207   10/10/2032  EUR   73.176
Danske Bank A/S     0.910   10/17/2039  JPY   71.889
Municipality of Eind1.246   10/18/2046  EUR   64.907
Lloyds Bank PLC     1.920   4/16/2044   EUR   66.600
State of North Rhine1.513   7/27/2065   EUR   60.294
Region de Bruxelles-0.540   9/13/2044   EUR   50.903
Caisse des Depots et1.114   9/20/2049   EUR   54.805
Kuntarahoitus Oyj   1.350   7/21/2046   EUR   71.232
LR Realkredit AS    0.500   10/1/2050   DKK   64.621
BNP Paribas SA      2.840   8/26/2039   AUD   58.603
La Banque Postale Ho1.379   4/4/2040    EUR   71.560
Region de Bruxelles-0.844   12/22/2047  EUR   49.927
Department of Girond0.556   4/29/2033   EUR   74.669
Pfandbriefbank schwe0.375   1/24/2042   CHF   72.715
DekaBank Deutsche Gi1.585   12/28/2035  EUR   62.689
Landesbank Baden-Wue0.290   8/6/2031    EUR   71.426
Muenchener Hypotheke0.105   2/17/2031   EUR   73.245
Deutsche Bank AG    0.510   9/16/2031   EUR   70.768
Landesbank Hessen-Th0.750   2/4/2032    EUR   73.725
KPNQwest NV         7.125   6/1/2009    EUR   0.680
Single Platform Inve1.510   2/13/2043   EUR   66.301
Standard Chartered B2.470   2/24/2036   USD   73.464
Region de Bruxelles-1.620   2/8/2044    EUR   66.914
Citigroup Global Mar1.010   10/28/2035  EUR   66.286
Single Platform Inve0.833   2/15/2041   EUR   59.623
Bank fuer Kirche und0.450   7/1/2031    EUR   74.223
Single Platform Inve0.780   4/1/2042    EUR   57.524
Heta Asset Resolutio5.270   12/31/2023  EUR   1.500
Sparebank 1 Oestland1.575   2/28/2034   EUR   67.438
Italy Buoni Polienna0.600   8/1/2031    EUR   74.322
Muenchener Hypotheke1.000   5/7/2035    EUR   70.582
Communaute Francaise1.760   2/22/2038   EUR   75.041
Landesbank Baden-Wue0.360   12/30/2030  EUR   73.088
Bank fuer Kirche und0.660   3/17/2036   EUR   65.635
Bank fuer Kirche und0.600   6/9/2036    EUR   64.599
Region Wallonne Belg0.638   6/21/2047   EUR   45.698
Single Platform Inve1.200   11/1/2040   EUR   63.905
Assistance Publique 0.647   7/17/2040   EUR   62.237
Deutsche Pfandbriefb1.020   7/29/2030   EUR   74.463
Caisse des Depots et1.140   2/25/2037   EUR   71.857
Landesbank Hessen-Th0.510   3/10/2032   EUR   70.805
Senvion Holding GmbH3.875   10/25/2022  EUR   0.192
Muenchener Hypotheke1.300   5/7/2061    EUR   57.707
Region Occitanie    0.766   10/7/2041   EUR   58.882
Banque et Caisse d'E1.270   5/7/2045    EUR   70.196
Norddeutsche Landesb0.650   3/10/2031   EUR   72.603
Cooperatieve Raboban2.360   9/25/2047   EUR   68.555
Credit Agricole Corp1.300   2/2/2061    EUR   48.263
Muenchener Hypotheke1.666   8/7/2042    EUR   74.213
Hypo Vorarlberg Bank0.175   9/10/2029   EUR   73.551
Ville de Marseille  1.688   12/6/2038   EUR   73.324
State of North Rhine0.200   1/27/2051   EUR   43.423
Norddeutsche Landesb0.400   8/23/2030   EUR   73.477
Barclays Bank PLC   2.070   12/18/2035  USD   64.351
Bibby Offshore Servi7.500   6/15/2021   GBP   11.625
Luminis SA          1.800   9/2/2059    EUR   44.158
Grupo Isolux Corsan 6.000   12/30/2021  USD   0.253
Arkea Public Sector 1.344   1/26/2037   EUR   74.764
Caisse des Depots et2.766   8/9/2049    USD   69.406
Single Platform Inve0.428   2/15/2040   EUR   56.062
DZ Bank AG Deutsche 0.180   12/7/2032   EUR   71.522
Region Wallonne Belg0.150   5/10/2035   EUR   64.271
Santander Internatio1.100   12/7/2040   EUR   51.864
Societe Wallonne de 0.883   11/21/2044  EUR   49.301
Region Auvergne-Rhon0.250   10/23/2034  EUR   66.509
Batigere Grand Est S1.600   11/14/2044  EUR   62.835
Single Platform Inve1.870   11/21/2044  EUR   68.296
Vasakronan AB       1.310   12/10/2040  EUR   48.278
BPCE SFH SA         1.344   2/18/2041   EUR   74.332
Region Wallonne Belg1.727   3/29/2038   EUR   73.966
Batigere Grand Est S1.540   11/4/2041   EUR   64.747
Communaute Francaise0.771   8/25/2050   EUR   46.866
NRW Bank            0.610   9/7/2040    EUR   62.888
Oberoesterreichische0.315   9/14/2035   EUR   66.482
Caisse des Depots et0.696   9/14/2040   EUR   58.645
SpareBank 1 SR-Bank 0.970   10/9/2040   EUR   49.794
NRW Bank            0.360   10/15/2035  EUR   68.947
Banque International0.750   10/13/2030  EUR   70.735
Banque International0.550   10/13/2030  EUR   69.736
Single Platform Inve0.462   2/15/2040   EUR   56.954
National Grid Electr2.226   12/19/2039  GBP   62.277
BNP Paribas SA      1.000   1/23/2040   MXN   20.151
ECM Real Estate Inve5.000   10/9/2011   EUR   15.375
ECM Real Estate Inve5.000   10/9/2011   EUR   15.375
Lehman Brothers Trea5.250   4/1/2023    EUR   0.100
Elli Investments Ltd12.250  6/15/2020   GBP   52.250
Nederlandse Watersch1.900   3/15/2052   EUR   72.115
Nordea Bank Abp     0.620   10/14/2026  SEK   54.110
Banque Cantonale Vau5.000   5/17/2023   CHF   29.250
KESZ Holding Busines4.100   11/17/2031  HUF   72.500
Sberbank of Russia P0.010   9/21/2028   RUB   62.400
4iG Nyrt            2.900   3/29/2031   HUF   68.720
Anselma Issuer SA   1.574   12/31/2038  EUR   49.730
UBS AG/London       10.750  2/2/2024    EUR   60.650
Ebis OOO            12.000  4/9/2024    RUB   2.150
UBS AG/London       7.500   7/12/2023   CHF   57.550
Leonteq Securities A13.000  4/21/2023   CHF   60.610
Golfino AG          8.000   11/18/2023  EUR   0.010
Takarek Mortgage Ban3.000   8/21/2030   HUF   66.500
Aragon OOO          24.000  3/16/2029   RUB   62.000
Kometa 99 Elelmiszer5.000   2/21/2032   HUF   74.200
Leonteq Securities A12.000  5/22/2023   CHF   73.980
Raiffeisen Bank Inte7.500   7/7/2023    EUR   51.030
Landesbank Baden-Wue3.000   5/26/2023   EUR   55.070
Societe Generale SA 0.705   11/12/2035  EUR   62.660
Societe Generale SA 12.500  9/12/2024   USD   54.870
DZ Bank AG Deutsche 2.000   12/30/2030  EUR   74.620
Societe Generale SA 23.000  5/1/2023    USD   43.000
Landesbank Baden-Wue4.984   2/20/2034   EUR   71.540
Landesbank Hessen-Th1.300   2/27/2035   EUR   65.500
Rosbank PJSC        0.030   4/30/2024   RUB   60.050
Rosbank PJSC        0.010   4/30/2024   RUB   60.050
BNP Paribas Emission15.000  3/23/2023   EUR   75.600
Progress Etteremhalo3.000   9/18/2030   HUF   66.300
DekaBank Deutsche Gi0.440   3/26/2031   EUR   75.973
Harp Issuer PLC     1.400   2/14/2032   USD   69.155
Ville de Paris      1.165   6/9/2053    EUR   50.463
Region of Pays de la0.924   11/4/2044   EUR   56.713
Norddeutsche Landesb0.650   12/3/2031   EUR   71.363
Ville de Paris      0.921   5/26/2053   EUR   46.728
Muenchener Hypotheke0.620   7/22/2033   EUR   68.896
Romanian Government 2.875   4/13/2042   EUR   56.714
Citigroup Global Mar1.010   4/20/2036   EUR   64.513
VTB Bank OJSC Via VT6.250   6/30/2035   USD   22.822
de Volksbank NV     1.210   3/28/2036   EUR   74.808
Caisse des Depots et1.617   3/18/2049   EUR   63.246
Nationale-Nederlande1.432   3/21/2039   EUR   72.854
State of North Rhine2.150   3/21/2119   EUR   64.936
Landesbank Baden-Wue0.450   11/8/2030   EUR   74.637
Portugal Obrigacoes 0.900   10/12/2035  EUR   71.670
Region de Bruxelles-0.910   1/31/2053   EUR   46.283
Societe Generale SA 2.710   7/8/2035    AUD   64.747
Kuntarahoitus Oyj   1.200   4/1/2060    EUR   60.711
Single Platform Inve1.920   11/5/2040   EUR   73.371
Merrill Lynch BV    3.090   10/25/2036  AUD   70.409
Hypo Vorarlberg Bank0.920   7/8/2036    EUR   52.737
NRW Bank            1.085   10/26/2041  EUR   67.460
Allgemeine Sparkasse0.200   3/22/2033   EUR   71.402
Oberoesterreichische0.445   3/28/2036   EUR   66.889
Landesbank Hessen-Th0.810   8/1/2035    EUR   64.665
United Kingdom Gilt 1.125   1/31/2039   GBP   64.897
Slovakia Government 2.000   10/17/2047  EUR   68.943
Single Platform Inve0.885   7/24/2036   EUR   65.863
Landesbank Baden-Wue0.580   3/2/2033    EUR   69.201
KPNQwest NV         7.125   6/1/2009    EUR   0.680
SpareBank 1 Boligkre1.490   12/14/2038  EUR   73.537
Oberoesterreichische0.600   5/26/2031   EUR   71.399
BPCE SFH SA         1.536   12/21/2038  EUR   73.857
Lehman Brothers Trea1.750   2/7/2010    EUR   0.100
Banque International2.160   6/27/2039   EUR   74.459
Merrill Lynch BV    2.650   8/4/2036    AUD   66.579
Landesbank Baden-Wue0.905   4/1/2041    EUR   59.401
Citigroup Global Mar2.505   6/12/2035   USD   74.624
Department of Girond0.707   6/23/2035   EUR   71.003
Region de Bruxelles-1.065   6/12/2058   EUR   43.785
Department of Girond0.900   12/15/2039  EUR   63.697
Goldman Sachs Intern3.200   3/16/2041   AUD   63.404
Citigroup Global Mar2.700   6/1/2035    USD   76.408
Landesbank Baden-Wue0.060   9/1/2031    EUR   70.968
Republic of Austria 0.700   4/20/2071   EUR   42.134
Sihltal Zuerich Uetl0.250   4/30/2036   CHF   73.907
Single Platform Inve1.155   5/25/2052   EUR   54.807
Credit Agricole CIB 0.850   11/19/2033  EUR   69.996
City of Lausanne Swi0.600   7/6/2050    CHF   63.569
Natixis SA          3.600   11/11/2041  AUD   70.051
Communaute Francaise1.700   4/15/2049   EUR   63.301
Communaute Francaise1.925   4/18/2059   EUR   62.287
Comunidad Foral de N2.100   4/30/2044   EUR   70.175
BNP Paribas SA      3.080   8/28/2039   AUD   60.953
Communaute Francaise0.886   6/22/2057   EUR   43.236
DekaBank Deutsche Gi1.340   8/22/2036   EUR   68.849
DNB Boligkreditt AS 1.080   5/16/2039   EUR   68.141
Aareal Bank AG      1.800   7/21/2036   EUR   72.655
Credit Agricole Corp0.900   10/1/2034   EUR   67.140
Communaute Francaise1.000   10/8/2069   EUR   41.390
Ukraine Government I7.750   9/1/2028    USD   18.541
Communaute Francaise1.140   9/20/2059   EUR   45.712
Communaute Francaise1.728   4/11/2049   EUR   66.840
Communaute Francaise1.725   4/23/2049   EUR   66.773
Ukraine Government I7.750   9/1/2025    USD   20.487
Ukraine Government I7.750   9/1/2029    USD   18.643
Communaute Francaise0.948   10/11/2059  EUR   44.048
Bayerische Landesban1.690   4/23/2037   EUR   69.531
Vasakronan AB       3.100   9/9/2039    AUD   66.380
Societe Publique de 1.272   8/23/2036   EUR   71.260
DZ HYP AG           1.300   7/18/2041   EUR   67.005
Getin Noble Bank SA 12.650  4/28/2023   PLN   52.643
Landesbank Hessen-Th0.610   9/27/2032   EUR   69.935
BPCE SFH SA         1.295   6/8/2037    EUR   73.178
Citigroup Global Mar1.230   8/20/2039   EUR   62.388
DZ Bank AG Deutsche 2.240   8/22/2034   USD   73.206
National Grid Electr3.120   12/10/2039  AUD   67.646
BPCE SFH SA         1.375   3/22/2038   EUR   73.375
OP Corporate Bank pl1.400   3/16/2035   EUR   66.283
Kingdom of Belgium G2.150   6/22/2066   EUR   71.867
Landesbank Hessen-Th0.450   9/5/2031    EUR   72.512
Banque International0.675   10/29/2030  EUR   70.455
Communaute Francaise1.972   9/25/2050   EUR   66.764
Merrill Lynch BV    2.580   8/11/2036   AUD   65.966
Credit Agricole CIB 1.750   3/3/2037    EUR   74.048
Communaute Francaise1.170   7/5/2049    EUR   53.824
BNP Paribas SA      1.450   11/17/2041  EUR   63.937
Grand Delta Habitat 1.630   3/6/2045    EUR   63.194
Goldman Sachs Intern2.050   3/19/2036   EUR   74.040
Banque International0.800   12/22/2032  EUR   61.091
Landesbank Baden-Wue0.060   1/20/2031   EUR   72.426
Citigroup Global Mar3.200   4/27/2051   AUD   68.178
Landesbank Hessen-Th0.490   2/28/2035   EUR   62.585
DZ HYP AG           1.505   3/12/2038   EUR   74.533
Muenchener Hypotheke1.500   9/27/2038   EUR   73.803
NRW Bank            1.235   12/16/2061  EUR   56.385
Banque International1.000   2/18/2036   EUR   57.841
ABN AMRO Bank NV    1.575   1/25/2040   EUR   72.980
Credit Agricole Corp11.190  3/12/2027   TRY   65.821
Region de Bruxelles-1.500   2/15/2039   EUR   71.801
Landwirtschaftliche 0.210   9/30/2033   EUR   72.635
DZ HYP AG           0.180   3/10/2031   EUR   72.639
BPCE SA             2.320   3/4/2036    USD   64.102
Landesbank Hessen-Th0.650   10/6/2031   EUR   73.172
Republic of Ireland 1.230   6/23/2121   EUR   40.849
Erste Group Bank AG 0.560   9/29/2033   EUR   63.931
Nederlandse Watersch1.790   1/29/2049   EUR   72.447
Bayerische Landesban0.745   12/15/2031  EUR   74.020
Region de Bruxelles-1.225   6/21/2070   EUR   40.834
Landesbank Baden-Wue0.580   3/2/2033    EUR   69.201
Lehman Brothers Trea1.950   11/4/2013   EUR   0.100
Caisse des Depots et1.900   9/14/2048   EUR   70.191
DekaBank Deutsche Gi0.250   1/31/2031   EUR   74.611
Lloyds Bank PLC     2.520   9/4/2038    SEK   71.935
SpareBank 1 SR-Bank 1.020   10/8/2036   EUR   57.499
Oberoesterreichische0.610   1/28/2037   EUR   67.991
NRW Bank            0.528   10/21/2033  EUR   74.628
HSBC Continental Eur2.150   3/14/2049   EUR   62.005
Landesbank Baden-Wue0.550   11/9/2032   EUR   70.421
Kreditanstalt fuer W1.267   3/22/2051   EUR   67.109
Deutsche Bank AG    0.700   2/6/2032    EUR   71.391
Citigroup Global Mar2.900   3/15/2041   USD   70.500
Communaute Francaise1.840   3/1/2049    EUR   68.767
Hypo Tirol Bank AG  0.740   5/29/2040   EUR   62.773
Landesbank Hessen-Th0.700   2/24/2032   EUR   73.065
Societe Generale SA 0.570   6/30/2031   EUR   72.536
Hypo Vorarlberg Bank0.500   6/23/2031   EUR   66.096
ABN AMRO Bank NV    1.355   2/21/2039   EUR   71.583
BNP Paribas SA      2.700   2/21/2049   EUR   74.064
SG Issuer SA        0.600   3/7/2033    EUR   70.368
Kreditanstalt fuer W1.271   5/20/2051   EUR   66.176
Credit Agricole CIB 0.440   8/30/2033   EUR   67.691
Kommunalbanken AS   1.870   4/16/2048   EUR   74.824
Landesbank Saar     0.890   9/4/2034    EUR   69.588
Arkea Home Loans SFH1.534   3/31/2043   EUR   71.584
Single Platform Inve2.000   2/1/2039    EUR   74.624
UniCredit Bank AG   0.610   5/2/2033    EUR   70.419
Credit Agricole SA  3.000   1/19/2041   AUD   52.339
State of North Rhine1.550   6/16/2048   EUR   69.420
Nederlandse Watersch1.577   12/9/2039   GBP   65.150
Single Platform Inve1.080   5/17/2033   EUR   72.912
Caisse des Depots et1.015   7/22/2050   EUR   52.263
Muenchener Hypotheke0.190   7/23/2030   EUR   72.838
Berlin Hyp AG       0.895   7/20/2050   EUR   59.064
Batigere Grand Est S1.550   8/12/2041   EUR   65.147
Grand Delta Habitat 1.500   9/1/2049    EUR   59.192
Region Occitanie    1.282   5/25/2040   EUR   67.627
State of North Rhine0.463   8/1/2033    EUR   74.299
Agence Francaise de 1.911   10/26/2048  EUR   74.868
SG Issuer SA        0.900   4/7/2036    EUR   68.014
Landesbank Baden-Wue0.500   12/8/2031   EUR   72.660
Banque International1.020   3/25/2040   EUR   51.891
Landesbank Baden-Wue0.260   5/28/2031   EUR   72.917
Ministeries Van de V1.392   11/12/2041  EUR   63.189
Getin Noble Bank SA 12.650  4/29/2024   PLN   27.008
Region of Pays de la1.704   10/23/2040  EUR   70.084
Barclays Bank PLC   3.070   5/19/2036   NZD   73.725
Communaute Francaise1.397   7/18/2059   EUR   50.720
Communaute Francaise0.392   1/22/2041   EUR   53.342
Landesbank Hessen-Th1.000   2/11/2037   EUR   64.430
BNG Bank NV         1.790   1/21/2049   EUR   69.644
Credit Agricole CIB 0.490   9/13/2033   EUR   68.050
Communaute Francaise0.750   2/4/2061    EUR   37.883
Vasakronan AB       2.162   5/4/2040    SEK   66.620
BNP Paribas SA      1.130   5/26/2036   EUR   65.885
BNG Bank NV         1.900   7/11/2058   EUR   67.189
Caisse des Depots et1.270   10/1/2051   EUR   55.842
Muenchener Hypotheke0.335   2/10/2031   EUR   72.396
HSBC Bank PLC       2.230   9/6/2047    EUR   59.987
Kreditanstalt fuer W0.600   2/16/2051   EUR   54.657
ING Bank NV         1.445   7/6/2038    EUR   74.371
Norddeutsche Landesb0.940   1/13/2032   EUR   73.180
Agence Francaise de 1.950   11/19/2053  EUR   73.995
State of North Rhine2.000   4/16/2038   SEK   74.434
ACCIONA Financiacion3.000   10/23/2035  EUR   74.868
Credit Agricole CIB 0.730   6/2/2033    EUR   69.317
Muenchener Hypotheke0.750   5/27/2031   EUR   74.663
Akademiska Hus AB   2.185   11/21/2038  SEK   74.653
Aktia Bank Oyj      1.050   9/9/2041    EUR   53.369
Communaute Francaise1.917   12/14/2045  EUR   67.660
DZ Bank AG Deutsche 0.300   2/12/2032   EUR   72.245
SNCF Reseau         2.455   6/22/2047   SEK   73.896
Republic of Ireland 2.000   6/29/2064   EUR   65.261
Landesbank Baden-Wue0.080   2/12/2031   EUR   72.372
NRW Bank            0.600   1/28/2051   EUR   51.094
Bayerische Landesban1.650   11/28/2033  EUR   74.990
DekaBank Deutsche Gi1.300   4/23/2035   EUR   70.373
DNB Boligkreditt AS 1.634   2/13/2043   EUR   71.292
Landesbank Hessen-Th0.900   9/4/2034    EUR   67.364
Caisse Francaise de 1.466   2/1/2038    EUR   74.241
Caisse des Depots et1.098   7/31/2049   EUR   54.011
Communaute Francaise1.674   2/5/2038    EUR   73.985
BNG Bank NV         1.920   2/12/2048   EUR   73.040
Single Platform Inve0.932   2/15/2041   EUR   59.980
Single Platform Inve1.593   10/31/2050  EUR   62.122
Nederlandse Watersch0.260   11/10/2036  EUR   65.113
Caisse des Depots et0.913   11/20/2050  EUR   50.421
Kuntarahoitus Oyj   1.005   12/7/2060   EUR   55.774
Deutsche Pfandbriefb0.320   12/9/2030   EUR   68.868
Ville de Marseille  0.509   12/17/2041  EUR   56.200
Kreditanstalt fuer W0.880   12/7/2050   EUR   59.747
Kreditanstalt fuer W0.918   10/11/2050  EUR   60.428
Ministeries Van de V0.400   11/20/2043  EUR   51.187
Kreditanstalt fuer W0.902   11/16/2050  EUR   60.162
Raiffeisen Bank Inte0.290   11/11/2030  EUR   68.629
Autonomous Community0.810   10/31/2040  EUR   57.626
Region de Bruxelles-0.720   10/17/2051  EUR   43.895
SG Issuer SA        2.910   10/29/2034  AUD   69.386
Single Platform Inve0.785   3/20/2039   EUR   61.414
Kuntarahoitus Oyj   0.875   11/14/2034  SEK   74.228
Region de Bruxelles-0.808   1/31/2050   EUR   45.297
New World Resources 8.000   4/7/2020    EUR   0.098
Kreditanstalt fuer W0.660   11/12/2039  EUR   66.073
Batigere Grand Est S1.610   10/23/2040  EUR   66.858
Batigere Grand Est S1.600   11/14/2039  EUR   68.283
Landesbank Hessen-Th0.800   2/26/2035   EUR   65.418
Commerzbank AG      1.219   12/12/2039  EUR   62.267
Region de Bruxelles-1.036   1/7/2060    EUR   42.336
Landesbank Hessen-Th0.800   1/16/2035   EUR   65.641
Landesbank Saar     0.743   12/3/2032   EUR   71.875
Batigere Grand Est S1.709   11/4/2042   EUR   65.812
Region de Bruxelles-0.731   8/25/2060   EUR   36.102
Communaute Francaise0.818   8/28/2050   EUR   47.787
Landesbank Baden-Wue0.590   9/22/2034   EUR   65.439
Standard Chartered B0.500   9/11/2040   JPY   61.595
Wirtschafts- und Inf0.101   9/8/2033    EUR   70.842
DZ Bank AG Deutsche 0.750   9/21/2035   EUR   67.176
Sveriges Sakerstalld0.649   9/18/2032   SEK   73.846
Deutsche Pfandbriefb0.613   9/30/2032   EUR   64.877
Banque International0.680   10/9/2030   EUR   70.563
Nederlandse Watersch0.230   10/22/2035  EUR   67.056
Societe Wallonne de 0.894   10/23/2045  EUR   48.700
Societe Generale SA 1.290   12/19/2034  EUR   70.616
Norddeutsche Landesb1.350   2/3/2038    EUR   62.520
Lehman Brothers Trea3.400   9/21/2009   HKD   0.100
Windreich GmbH      6.750   3/1/2015    EUR   2.780
Windreich GmbH      6.250   3/1/2015    EUR   2.780
Air Berlin Finance B6.000   3/6/2019    EUR   0.241
DZ Bank AG Deutsche 9.250   4/28/2023   EUR   40.220
ENVIEN Magyarorszag 2.500   5/18/2031   HUF   66.380
Bank Vontobel AG    7.200   1/19/2027   EUR   42.100
Baromfi-Coop Termelo3.000   7/19/2031   HUF   66.700
Flextronics Internat3.600   12/6/2031   HUF   66.000
MASTERPLAST Nyrt    2.900   8/25/2031   HUF   62.500
Landesbank Hessen-Th1.000   3/20/2035   EUR   63.150
Landesbank Hessen-Th1.000   9/13/2034   EUR   65.900
SG Issuer SA        5.000   5/30/2029   EUR   47.560
Agrar Mezogazdasagi 2.900   8/24/2031   HUF   65.450
EFG International Fi6.120   7/11/2024   EUR   67.770
Hell Energy Magyaror2.700   12/18/2029  HUF   61.600
Landesbank Hessen-Th1.150   7/19/2034   EUR   72.100
MASTERPLAST Nyrt    2.100   12/21/2027  HUF   73.000
Sberbank of Russia P0.016   3/15/2032   RUB   73.500
BNP Paribas Issuance5.000   11/5/2024   EUR   32.120
Eltex Kft           3.500   12/21/2028  HUF   71.200
Axial Javito Kereske2.000   9/23/2030   HUF   59.686
Zalaco Sutoipari zrt3.500   7/24/2030   HUF   65.387
Szinorg Universal zr3.000   5/15/2030   HUF   62.306
Hypo Tirol Bank AG  0.670   7/21/2031   EUR   73.901
Single Platform Inve1.785   7/30/2042   EUR   70.524
Credit Agricole CIB 0.580   4/6/2033    EUR   68.029
IT Holding Finance S9.875   11/15/2012  EUR   0.015
Raiffeisenlandesbank0.620   9/29/2031   EUR   70.886
Credit Agricole Corp15.700  10/7/2026   TRY   74.872
Caisse Francaise de 1.670   12/7/2048   EUR   70.837
Romanian Government 2.750   4/14/2041   EUR   57.000
Ministeries Van de V1.053   6/3/2050    EUR   51.677
Centre Hospitalier R2.060   6/25/2049   EUR   73.573
Romanian Government 3.875   10/29/2035  EUR   74.630
Region de Bruxelles-1.922   4/24/2059   EUR   56.551
SAir Group          2.750   7/30/2004   CHF   11.375
Netherlands Governme0.500   1/15/2040   EUR   67.198
UBS AG/London       1.600   4/18/2049   EUR   64.199
Ukraine Government I7.750   9/1/2026    USD   18.447
HYPO NOE Landesbank 2.520   8/5/2041    EUR   71.671
Raiffeisenlandesbank0.810   9/18/2034   EUR   64.185
State of North Rhine0.880   7/12/2040   EUR   67.179
Commerzbank AG      1.400   7/21/2031   EUR   74.497
Raiffeisen-Landesban0.060   10/3/2031   EUR   72.697
French Republic Gove1.750   5/25/2066   EUR   64.918
Republic of Austria 1.500   11/2/2086   EUR   55.639
Credit Agricole Corp10.320  7/22/2026   TRY   67.826
ING Bank NV         0.465   4/21/2041   EUR   60.843
Spain Government Bon1.000   10/31/2050  EUR   50.841
Region Wallonne Belg1.250   4/30/2055   EUR   49.643
Region de Bruxelles-1.020   4/30/2060   EUR   40.766
Region Wallonne Belg1.930   10/20/2039  EUR   74.982
Deutsche Bank AG    2.530   10/7/2036   USD   68.278
Kingdom of Belgium G1.700   6/22/2050   EUR   67.624
Caisse Francaise de 1.720   11/6/2047   EUR   71.969
Sweden Government Bo1.375   6/23/2071   SEK   54.695
Caisse des Depots et2.730   3/2/2041    AUD   68.574
Kommunekredit       2.200   9/27/2041   AUD   61.345
Cie de Financement F1.887   1/31/2049   EUR   71.657
UBS AG/London       2.350   12/17/2048  EUR   73.653
Landeskreditbank Bad0.605   6/16/2036   EUR   71.466
Barclays Bank PLC   2.560   3/9/2036    USD   73.547
Teksid Aluminum Luxe12.375  7/15/2011   EUR   0.122
Kreditanstalt fuer W0.826   10/22/2041  EUR   65.900
BNP Paribas SA      1.300   1/28/2037   EUR   67.813
Lehman Brothers Trea5.220   3/1/2024    EUR   0.100
UniCredit Bank AG   0.030   3/17/2031   EUR   75.022
Credit Agricole CIB 0.550   3/17/2033   EUR   68.211
Single Platform Inve1.700   9/18/2037   EUR   73.787
Berlin Hyp AG       0.460   10/7/2031   EUR   72.987
Region of Centre-Val0.725   12/12/2039  EUR   61.585
SNCF Reseau         2.490   6/12/2047   SEK   74.440
Republic of Austria 0.750   3/20/2051   EUR   54.642
Region de Bruxelles-1.750   1/17/2048   EUR   65.991
Belfius Bank SA     0.190   1/28/2031   EUR   71.321
French Republic Gove0.500   5/25/2072   EUR   36.476
Ukraine Government I7.253   3/15/2035   USD   17.002
Single Platform Inve1.000   7/15/2036   EUR   67.146
State of North Rhine0.950   1/10/2121   EUR   36.579
Nederlandse Watersch1.610   12/4/2052   EUR   67.457
Bayerische Landesban1.716   1/8/2037    EUR   70.019
Caisse des Depots et1.000   2/26/2051   EUR   51.786
Landshypotek Bank AB0.750   2/16/2033   SEK   72.947
Berlin Hyp AG       0.375   9/29/2031   EUR   72.364
UNEDIC ASSEO        0.100   5/25/2034   EUR   68.690
Spain Government Bon1.450   10/31/2071  EUR   45.653
Finland Government B0.125   4/15/2052   EUR   43.532
Agence Francaise de 1.954   11/13/2053  EUR   74.019
Oberoesterreichische0.655   1/25/2036   EUR   60.110
Republic of Austria 1.850   5/23/2049   EUR   74.778
Municipality of Eind1.785   5/30/2047   EUR   73.129
Credit Agricole CIB 0.440   9/6/2033    EUR   66.948
Region de Bruxelles-0.875   6/22/2057   EUR   40.829
Credit Agricole Corp2.000   11/23/2032  USD   75.353
Department of L'Eure0.442   10/25/2045  EUR   48.340
Region de Bruxelles-0.453   12/7/2055   EUR   34.608
Department of Bouche0.432   2/1/2046    EUR   47.801
Credit Agricole CIB 0.390   12/16/2032  EUR   67.713
Region Wallonne Belg0.828   8/28/2048   EUR   49.271
City of St Gallen   0.140   9/16/2044   CHF   67.708
Department of Bouche0.500   10/5/2043   EUR   52.204
Collectivite Europee0.487   10/9/2045   EUR   49.070
Credit Agricole Corp1.920   10/16/2032  USD   73.088
Department of Loiret0.500   10/30/2042  EUR   53.642
Department of Bouche0.482   10/20/2045  EUR   48.952
Erste Group Bank AG 0.880   2/12/2035   EUR   63.910
United Kingdom Gilt 1.250   10/22/2041  GBP   62.166
Irish Bank Resolutio6.750   11/30/2013  BGN   33.294
Lehman Brothers Trea7.500   2/14/2010   AUD   0.100
Single Platform Inve1.350   1/26/2034   EUR   74.363
Landesbank Baden-Wue2.400   11/24/2023  EUR   75.440
UBS AG/London       10.500  4/28/2023   CHF   70.800
UBS AG/London       8.750   4/28/2023   CHF   52.250
Raiffeisen Bank Inte8.250   5/11/2023   EUR   62.010
Leonteq Securities A7.000   5/3/2023    CHF   53.070
Corner Banca SA     6.000   5/3/2023    CHF   69.740
TMK PJSC            7.350   2/28/2025   RUB   96.000
Landesbank Hessen-Th1.800   6/9/2036    EUR   63.750
UBS AG/London       13.000  5/6/2024    USD   44.650
UBS AG/London       11.000  5/5/2023    CHF   42.750
UBS AG/London       5.250   5/5/2023    CHF   75.500
Luzerner Kantonalban6.000   5/10/2023   CHF   53.980
Vontobel Financial P7.750   6/1/2023    EUR   86.890
Luzerner Kantonalban5.880   7/6/2023    CHF   52.230
Luzerner Kantonalban6.780   7/6/2023    USD   51.480
Sberbank of Russia P0.010   6/22/2028   RUB   63.300
Bank Julius Baer & C4.000   6/26/2023   CHF   74.000
Landesbank Baden-Wue3.100   7/24/2026   EUR   72.000
BNP Paribas Emission3.000   4/21/2026   EUR   62.050
Credit Suisse AG/Lon4.200   4/21/2023   EUR   50.260
Raiffeisen Bank Inte11.082  9/20/2023   EUR   71.750
Raiffeisen Bank Inte8.311   9/20/2023   EUR   64.080
Raiffeisen Bank Inte9.696   9/20/2023   EUR   59.570
Raiffeisen Bank Inte11.082  9/20/2023   EUR   56.440
Raiffeisen Bank Inte5.541   9/20/2023   EUR   63.450
Raiffeisen Bank Inte6.926   9/20/2023   EUR   61.790
Raiffeisen Bank Inte8.311   9/20/2023   EUR   60.570
DZ Bank AG Deutsche 21.500  4/28/2023   EUR   61.060
DZ Bank AG Deutsche 5.250   6/21/2023   EUR   54.820
DZ Bank AG Deutsche 8.500   3/22/2023   EUR   73.070
Bank Vontobel AG    7.250   7/11/2023   EUR   70.400
Bank Vontobel AG    10.250  10/9/2023   CHF   71.200
Bank Vontobel AG    15.000  4/12/2023   CHF   55.200
Bank Vontobel AG    8.750   10/9/2023   CHF   54.800
UniCredit Bank AG   10.800  5/10/2023   EUR   35.270
Banque International11.000  7/12/2023   EUR   58.090
UBS AG/London       18.000  4/15/2024   USD   71.000
Leonteq Securities A5.000   10/12/2023  CHF   74.800
Vontobel Financial P10.250  5/16/2023   EUR   74.200
EFG International Fi20.000  4/13/2023   USD   38.070
Bank Julius Baer & C11.750  4/18/2023   USD   76.100
Landesbank Baden-Wue1.600   4/28/2023   EUR   56.980
Landesbank Baden-Wue3.600   4/28/2023   EUR   48.270
Landesbank Baden-Wue5.250   4/28/2023   EUR   43.930
Landesbank Baden-Wue10.000  4/28/2023   EUR   70.540
Landesbank Baden-Wue3.300   4/28/2023   EUR   74.780
Landesbank Baden-Wue6.500   4/28/2023   EUR   41.510
Landesbank Baden-Wue2.000   4/28/2023   EUR   71.480
Landesbank Baden-Wue3.000   4/28/2023   EUR   67.470
Raiffeisen Schweiz G10.000  10/11/2023  CHF   65.120
Zurcher Kantonalbank9.400   10/11/2023  EUR   65.070
Zurcher Kantonalbank6.600   4/11/2023   CHF   75.660
Bank Vontobel AG    8.250   4/13/2023   CHF   72.500
Bank Vontobel AG    5.755   5/15/2023   CHF   52.800
Raiffeisen Schweiz G13.500  4/11/2023   CHF   55.810
Raiffeisen Schweiz G10.000  7/11/2023   CHF   44.100
Raiffeisen Schweiz G14.800  4/11/2023   CHF   41.310
UBS AG/London       17.400  4/14/2027   SEK   64.740
UBS AG/London       14.250  4/8/2024    USD   74.600
UBS AG/London       14.500  10/6/2023   CHF   72.850
UBS AG/London       13.000  4/6/2023    CHF   63.500
Banque Cantonale Vau13.400  10/6/2023   CHF   75.510
UBS AG/London       10.750  4/8/2024    CHF   73.250
Zurcher Kantonalbank11.000  4/6/2023    CHF   65.800
Zurcher Kantonalbank10.000  4/6/2023    CHF   71.240
Credit Suisse AG/Lon7.000   4/6/2023    CHF   63.230
Raiffeisen Schweiz G7.500   8/23/2023   CHF   68.430
Zurcher Kantonalbank2.550   8/26/2024   CHF   39.310
Landesbank Hessen-Th1.250   8/25/2036   EUR   61.400
Erste Group Bank AG 4.500   8/31/2025   EUR   75.550
Raiffeisen Schweiz G7.000   3/24/2023   CHF   65.470
Raiffeisen Schweiz G8.500   3/24/2023   CHF   70.300
Raiffeisen Schweiz G7.000   3/24/2023   CHF   70.500
Raiffeisen Schweiz G8.500   3/24/2023   USD   28.820
Raiffeisen Schweiz G8.000   3/24/2023   CHF   51.970
Banque International10.000  3/28/2023   CHF   36.230
Basler Kantonalbank 10.000  3/29/2023   CHF   35.390
EFG International Fi12.000  3/29/2023   USD   38.120
Raiffeisen Bank Inte5.368   3/22/2023   EUR   71.140
Raiffeisen Bank Inte8.051   3/22/2023   EUR   66.700
Raiffeisen Bank Inte9.393   3/22/2023   EUR   60.450
Raiffeisen Bank Inte10.735  3/22/2023   EUR   57.270
Raiffeisen Bank Inte12.077  3/22/2023   EUR   55.130
Raiffeisen Bank Inte9.393   3/22/2023   EUR   75.560
Raiffeisen Bank Inte10.735  3/22/2023   EUR   71.940
Raiffeisen Bank Inte12.077  3/22/2023   EUR   69.270
Leonteq Securities A8.000   8/2/2023    CHF   56.320
Landesbank Baden-Wue2.000   8/22/2025   EUR   75.530
Sberbank of Russia P0.010   8/3/2028    RUB   61.500
DekaBank Deutsche Gi3.100   8/30/2024   EUR   74.310
Vontobel Financial P4.250   8/22/2023   EUR   40.990
Sintekom TH OOO     13.000  1/23/2025   RUB   69.890
UniCredit Bank AG   3.400   9/2/2024    EUR   57.580
UniCredit Bank AG   3.600   9/2/2024    EUR   33.300
Landesbank Baden-Wue3.100   8/28/2026   EUR   75.620
BrokerCreditService 8.000   1/30/2024   USD   62.170
Landesbank Hessen-Th1.000   9/16/2036   EUR   60.700
Goldman Sachs & Co W5.000   6/21/2023   EUR   55.100
Goldman Sachs & Co W4.000   6/21/2023   EUR   58.090
Vontobel Financial P17.500  6/23/2023   EUR   39.430
UBS AG/London       7.500   3/17/2023   CHF   21.980
UBS AG/London       12.250  3/17/2023   CHF   55.550
UBS AG/London       9.750   3/17/2023   CHF   36.900
EFG International Fi6.500   3/22/2023   USD   67.220
DekaBank Deutsche Gi2.050   4/12/2024   EUR   42.210
Corner Banca SA     10.080  3/22/2023   CHF   51.170
DZ Bank AG Deutsche 0.320   12/30/2030  EUR   73.940
Vontobel Financial P5.150   3/19/2025   EUR   49.040
Leonteq Securities A8.000   3/22/2023   CHF   62.630
EFG International Fi7.000   3/23/2023   USD   7.450
UniCredit Bank AG   3.650   10/29/2024  EUR   67.200
BNP Paribas SA      1.275   10/2/2023   USD   22.900
Raiffeisen Schweiz G8.250   10/4/2023   CHF   74.590
Sberbank of Russia P0.010   10/5/2026   RUB   72.200
Raiffeisen Schweiz G8.500   7/5/2023    USD   69.400
BNP Paribas SA      1.259   10/2/2023   USD   23.660
Sberbank of Russia P0.010   10/5/2028   RUB   62.100
Sberbank of Russia P0.010   10/7/2026   RUB   75.000
DZ Bank AG Deutsche 14.400  3/24/2023   EUR   76.240
Bank Julius Baer & C22.000  3/29/2023   CHF   77.000
Bank Vontobel AG    8.000   12/27/2023  EUR   73.600
Bank Vontobel AG    15.000  9/25/2023   CHF   64.600
Bank Vontobel AG    18.500  6/26/2023   CHF   65.200
UBS AG/London       9.750   7/1/2024    CHF   59.700
Bank Vontobel AG    12.030  6/23/2023   EUR   35.100
Bank Vontobel AG    5.508   3/24/2023   CHF   36.700
Bank Vontobel AG    5.507   9/25/2023   CHF   26.100
Raiffeisen Switzerla6.700   5/10/2023   CHF   53.570
Zurcher Kantonalbank10.000  5/19/2023   CHF   55.080
Zurcher Kantonalbank9.100   5/11/2023   CHF   58.870
UniCredit Bank AG   7.300   6/14/2024   EUR   34.410
Landesbank Hessen-Th1.850   6/16/2036   EUR   63.600
UniCredit Bank AG   5.300   6/14/2024   EUR   75.350
Bank Vontobel AG    6.508   5/8/2023    CHF   54.300
UniCredit Bank AG   4.350   6/14/2024   EUR   65.060
DekaBank Deutsche Gi2.600   6/9/2023    EUR   74.820
Landesbank Baden-Wue3.150   6/26/2026   EUR   72.770
Leonteq Securities A8.000   5/17/2023   CHF   56.410
Raiffeisen Schweiz G6.500   11/17/2023  CHF   58.660
Banque International10.000  5/16/2023   EUR   40.160
Raiffeisen Schweiz G6.200   11/15/2023  CHF   46.520
Raiffeisen Schweiz G8.000   8/15/2023   CHF   76.900
Raiffeisen Schweiz G9.000   5/12/2023   CHF   50.910
Raiffeisen Schweiz G6.200   11/15/2023  CHF   73.850
Raiffeisen Schweiz G7.500   11/15/2023  CHF   54.460
Raiffeisen Schweiz G6.500   11/15/2023  CHF   73.490
UniCredit Bank AG   7.400   12/9/2024   EUR   62.870
UBS AG/London       6.750   5/18/2023   USD   48.900
UBS AG/London       8.500   5/17/2023   CHF   71.650
UBS AG/London       6.000   11/17/2023  CHF   76.950
UBS AG/London       7.500   11/17/2023  CHF   68.250
UBS AG/London       8.000   5/17/2023   CHF   30.950
UBS AG/London       8.000   11/17/2023  CHF   72.750
UBS AG/London       8.250   11/20/2023  USD   72.200
UBS AG/London       10.250  5/17/2023   CHF   58.650
VTB Bank PJSC       0.010   10/14/2026  RUB   74.990
Landesbank Hessen-Th0.750   11/17/2036  EUR   63.300
UniCredit Bank AG   4.550   12/22/2025  EUR   71.110
Basler Kantonalbank 7.000   11/17/2023  CHF   64.980
Basler Kantonalbank 12.000  5/17/2023   CHF   59.960
Landesbank Hessen-Th0.500   12/23/2036  EUR   60.600
HC Finance OOO      10.500  11/11/2024  RUB   60.100
EFG International Fi12.000  5/17/2023   CHF   30.610
EFG International Fi9.000   5/17/2023   CHF   60.700
Leonteq Securities A10.000  5/18/2023   USD   55.710
Bank Vontobel AG    5.750   11/6/2023   CHF   62.000
Bank Vontobel AG    8.500   11/6/2023   CHF   58.000
Bank Vontobel AG    6.250   5/12/2023   CHF   63.900
Bank Vontobel AG    6.000   11/17/2023  CHF   73.500
Societe Generale SA 11.000  11/22/2024  USD   41.760
Sberbank of Russia P0.010   11/13/2026  TRY   69.900
Leonteq Securities A8.000   11/22/2023  CHF   71.870
Corner Banca SA     7.000   11/22/2023  CHF   71.890
Credit Suisse AG/Lon7.000   12/17/2026  EUR   61.480
Leonteq Securities A11.000  5/22/2023   CHF   52.980
Sberbank of Russia P0.010   11/23/2026  RUB   68.500
Raiffeisen Schweiz G4.400   11/22/2023  CHF   70.980
Raiffeisen Schweiz G8.800   5/19/2023   USD   64.590
Raiffeisen Schweiz G7.500   11/22/2023  CHF   63.920
DZ Bank AG Deutsche 5.000   3/20/2023   EUR   64.920
DZ Bank AG Deutsche 8.750   3/20/2023   EUR   60.370
Zurcher Kantonalbank7.500   5/12/2023   CHF   74.570
Zurcher Kantonalbank10.500  5/16/2023   CHF   63.310
DZ Bank AG Deutsche 6.400   3/24/2023   EUR   71.470
DZ Bank AG Deutsche 10.600  3/24/2023   EUR   62.710
DZ Bank AG Deutsche 12.500  3/24/2023   EUR   43.050
DZ Bank AG Deutsche 10.100  3/24/2023   EUR   67.310
DZ Bank AG Deutsche 12.000  3/24/2023   EUR   76.430
DZ Bank AG Deutsche 16.300  3/24/2023   EUR   66.070
DZ Bank AG Deutsche 6.900   3/24/2023   EUR   74.850
DZ Bank AG Deutsche 13.700  3/24/2023   EUR   72.090
DZ Bank AG Deutsche 6.000   3/24/2023   EUR   55.660
UniCredit Bank AG   6.450   6/21/2023   EUR   48.110
EFG International Fi4.500   2/12/2024   USD   48.470
DZ Bank AG Deutsche 1.080   12/30/2030  EUR   73.960
DekaBank Deutsche Gi1.000   3/17/2025   EUR   70.190
Landesbank Baden-Wue3.200   3/27/2026   EUR   72.020
DZ Bank AG Deutsche 0.610   12/30/2030  EUR   72.980
DZ Bank AG Deutsche 0.570   6/25/2030   EUR   74.060
DZ Bank AG Deutsche 8.400   3/24/2023   EUR   66.790
DZ Bank AG Deutsche 10.900  3/24/2023   EUR   45.860
DZ Bank AG Deutsche 13.500  3/24/2023   EUR   31.770
DZ Bank AG Deutsche 17.700  3/24/2023   EUR   27.400
DZ Bank AG Deutsche 13.400  3/24/2023   EUR   72.620
DZ Bank AG Deutsche 17.000  3/24/2023   EUR   65.170
DZ Bank AG Deutsche 10.000  3/24/2023   EUR   68.690
DZ Bank AG Deutsche 11.800  3/24/2023   EUR   76.010
DZ Bank AG Deutsche 7.200   3/24/2023   EUR   75.640
DZ Bank AG Deutsche 1.370   12/30/2030  EUR   73.600
WEB Windenergie AG  4.500               EUR   0.010
Landesbank Hessen-Th9.968   9/21/2033   EUR   71.400
Vontobel Financial P5.000   3/26/2024   EUR   70.020
Societe Generale SA 14.000  4/3/2024    USD   14.625
Landesbank Baden-Wue4.300   3/24/2023   EUR   57.590
Landesbank Baden-Wue4.300   3/24/2023   EUR   68.600
Landesbank Baden-Wue2.200   3/24/2023   EUR   58.040
Landesbank Baden-Wue3.700   3/24/2023   EUR   51.840
SG Issuer SA        1.500   10/19/2033  EUR   70.340
Landesbank Baden-Wue2.300   3/24/2023   EUR   68.210
Landesbank Baden-Wue3.250   3/24/2023   EUR   62.410
Landesbank Baden-Wue4.050   3/24/2023   EUR   23.460
Landesbank Baden-Wue3.150   3/24/2023   EUR   39.120
Landesbank Baden-Wue2.650   9/22/2023   EUR   61.080
Vontobel Financial P3.000   9/5/2023    EUR   72.310
Citigroup Global Mar16.200  3/17/2023   EUR   61.510
Landesbank Hessen-Th0.700   4/1/2031    EUR   73.150
Koks PAO            9.200   8/16/2023   RUB   60.050
Leonteq Securities A6.000   9/20/2023   CHF   70.540
Leonteq Securities A10.000  3/17/2023   CHF   55.190
Corner Banca SA     9.000   3/17/2023   CHF   56.630
Leonteq Securities A9.000   9/20/2023   CHF   61.070
UBS AG/London       9.750   3/15/2023   CHF   12.840
Bank Julius Baer & C9.600   9/20/2023   CHF   73.700
Landesbank Baden-Wue3.000   9/25/2026   EUR   74.830
Landesbank Hessen-Th1.500   10/27/2036  EUR   58.350
DZ Bank AG Deutsche 0.510   6/25/2031   EUR   73.920
UBS AG/London       10.000  3/23/2026   USD   35.330
DZ Bank AG Deutsche 0.440   6/25/2031   EUR   72.290
Leonteq Securities A5.000   9/22/2025   CHF   72.240
EFG International Fi6.500   3/24/2023   USD   48.970
Landesbank Baden-Wue3.500   6/27/2025   EUR   73.330
Raiffeisen Switzerla6.250   9/25/2023   CHF   68.020
Landesbank Hessen-Th0.750   4/28/2031   EUR   72.950
Vontobel Financial P17.750  3/29/2023   EUR   33.300
DZ Bank AG Deutsche 0.860   12/30/2030  EUR   74.450
UniCredit Bank AG   5.750   2/26/2024   EUR   72.530
Vasutvillamosito Kft3.000   2/3/2031    HUF   65.000
Landesbank Baden-Wue4.000   6/28/2024   EUR   56.670
Landesbank Baden-Wue5.100   6/28/2024   EUR   51.520
Landesbank Baden-Wue7.000   6/28/2024   EUR   47.010
Landesbank Baden-Wue8.000   6/28/2024   EUR   45.500
Bayerische Landesban1.000   3/22/2024   EUR   64.160
BNP Paribas Issuance7.980   1/20/2025   SEK   75.460
Raiffeisen Schweiz G7.000   9/20/2023   CHF   75.190
Raiffeisen Schweiz G7.500   3/17/2023   CHF   52.920
Basler Kantonalbank 8.000   3/22/2023   CHF   65.750
EFG International Fi8.000   3/22/2023   USD   57.760
Landesbank Baden-Wue6.000   9/22/2023   EUR   72.570
Landesbank Baden-Wue10.000  9/22/2023   EUR   60.860
Leonteq Securities A7.000   4/26/2023   CHF   52.250
DZ Bank AG Deutsche 1.350   12/30/2030  EUR   74.440
Raiffeisen Switzerla8.000   3/22/2023   CHF   56.860
Landesbank Baden-Wue4.000   6/27/2025   EUR   74.880
Sberbank of Russia P0.010   3/25/2026   RUB   73.400
Sberbank of Russia P0.010   3/27/2028   RUB   66.300
Vontobel Financial P15.350  3/29/2023   EUR   39.290
UniCredit Bank AG   4.000   4/21/2025   USD   68.870
UniCredit Bank AG   1.550   7/18/2031   EUR   69.740
Raiffeisen Switzerla7.000   4/19/2023   CHF   66.620
Landesbank Baden-Wue3.060   4/26/2024   EUR   66.350
Landesbank Baden-Wue13.000  9/22/2023   EUR   55.110
EFG International Fi5.000   4/26/2023   USD   74.750
Raiffeisen Switzerla7.200   4/26/2023   CHF   68.780
Landesbank Baden-Wue3.350   4/28/2023   EUR   47.690
Landesbank Baden-Wue2.150   4/28/2023   EUR   51.470
Landesbank Baden-Wue5.200   4/28/2023   EUR   50.500
Landesbank Baden-Wue3.350   4/28/2023   EUR   57.910
Landesbank Baden-Wue7.000   4/28/2023   EUR   39.060
Landesbank Baden-Wue3.800   4/28/2023   EUR   51.280
Landesbank Baden-Wue4.200   4/28/2023   EUR   61.570
Landesbank Baden-Wue3.000   4/28/2023   EUR   66.910
Landesbank Baden-Wue2.000   4/28/2023   EUR   73.420
Landesbank Baden-Wue6.100   4/28/2023   EUR   70.960
Landesbank Baden-Wue4.200   4/28/2023   EUR   71.690
Landesbank Baden-Wue5.000   4/28/2023   EUR   61.920
Landesbank Baden-Wue4.000   4/28/2023   EUR   65.610
Landesbank Baden-Wue3.000   4/28/2023   EUR   69.810
Landesbank Baden-Wue3.000   4/28/2023   EUR   72.250
Landesbank Baden-Wue5.250   4/28/2023   EUR   25.810
Landesbank Baden-Wue3.150   4/28/2023   EUR   30.090
Landesbank Baden-Wue2.300   4/28/2023   EUR   37.440
Landesbank Baden-Wue6.250   4/28/2023   EUR   65.190
Landesbank Baden-Wue4.500   4/28/2023   EUR   71.630
Landesbank Baden-Wue6.000   4/28/2023   EUR   62.400
Landesbank Baden-Wue4.000   4/28/2023   EUR   73.750
Landesbank Baden-Wue5.700   4/28/2023   EUR   44.340
Landesbank Baden-Wue4.350   4/28/2023   EUR   48.220
Landesbank Baden-Wue3.000   4/28/2023   EUR   53.360
Bank Vontobel AG    6.503   4/24/2023   EUR   41.200
Bank Vontobel AG    7.252   4/24/2023   CHF   48.400
UBS AG/London       13.500  4/29/2024   USD   46.880
Raiffeisen Schweiz G5.850   10/4/2023   CHF   67.350
Landesbank Baden-Wue3.650   3/24/2023   EUR   61.120
Landesbank Baden-Wue6.200   3/24/2023   EUR   42.640
Landesbank Baden-Wue3.000   3/24/2023   EUR   73.220
Landesbank Baden-Wue4.200   3/24/2023   EUR   68.960
Landesbank Baden-Wue6.000   3/24/2023   EUR   73.170
Landesbank Baden-Wue6.200   3/24/2023   EUR   67.080
Landesbank Baden-Wue3.200   3/24/2023   EUR   73.340
Landesbank Baden-Wue4.300   3/24/2023   EUR   69.130
Landesbank Baden-Wue2.000   3/24/2023   EUR   74.470
Landesbank Baden-Wue4.900   3/24/2023   EUR   74.120
Leonteq Securities A11.000  4/4/2023    CHF   67.910
Leonteq Securities A7.000   10/4/2023   CHF   57.940
Leonteq Securities A10.000  4/4/2023    CHF   57.050
Leonteq Securities A7.400   10/4/2023   CHF   68.820
Leonteq Securities A8.000   10/4/2023   USD   64.100
Raiffeisen Schweiz G9.500   4/4/2023    CHF   69.100
Leonteq Securities A8.090   10/4/2023   CHF   44.370
DZ Bank AG Deutsche 1.620   6/25/2031   EUR   69.150
DekaBank Deutsche Gi4.500   9/1/2023    EUR   24.040
DekaBank Deutsche Gi3.650   8/30/2024   EUR   30.270
EFG International Fi8.000   8/9/2023    CHF   54.790
DekaBank Deutsche Gi4.000   9/1/2025    EUR   32.010
Bank Vontobel AG    7.000   2/5/2024    CHF   54.900
Sberbank of Russia P0.010   8/6/2026    RUB   74.110
BrokerCreditService 3.500   4/30/2024   USD   53.000
Raiffeisen Schweiz G6.400   8/9/2023    CHF   70.310
Landesbank Baden-Wue2.250   3/24/2023   EUR   66.640
Landesbank Baden-Wue4.900   3/24/2023   EUR   57.660
Landesbank Baden-Wue3.500   3/24/2023   EUR   54.650
Landesbank Baden-Wue8.650   3/24/2023   EUR   36.690
Landesbank Baden-Wue6.200   3/24/2023   EUR   58.550
Landesbank Baden-Wue8.900   3/24/2023   EUR   49.100
Landesbank Baden-Wue6.250   3/24/2023   EUR   70.180
Landesbank Baden-Wue5.500   3/24/2023   EUR   65.740
Landesbank Baden-Wue3.000   3/24/2023   EUR   70.220
Landesbank Baden-Wue4.150   3/24/2023   EUR   66.370
Sberbank of Russia P0.010   10/3/2028   RUB   69.700
Landesbank Baden-Wue2.000   3/24/2023   EUR   54.350
Landesbank Baden-Wue3.350   3/24/2023   EUR   50.850
Leonteq Securities A10.000  4/4/2023    USD   56.450
Corner Banca SA     8.000   4/4/2023    CHF   73.110
Corner Banca SA     7.000   10/4/2023   CHF   70.950
Raiffeisen Switzerla9.000   7/6/2023    USD   56.930
UBS AG/London       4.750   7/26/2023   CHF   67.300
UBS AG/London       7.000   7/26/2023   CHF   50.100
UBS AG/London       7.000   1/26/2024   CHF   67.300
UBS AG/London       7.750   7/26/2023   CHF   68.100
UBS AG/London       9.750   7/26/2023   CHF   34.100
Raiffeisen Schweiz G8.200   12/6/2023   CHF   64.300
Landesbank Baden-Wue4.000   1/2/2026    EUR   63.140
BNP Paribas Emission11.000  12/21/2023  EUR   67.820
BNP Paribas Emission16.000  3/23/2023   EUR   73.880
BNP Paribas Emission18.000  3/23/2023   EUR   73.950
BNP Paribas Emission8.000   3/23/2023   EUR   65.860
BNP Paribas Emission11.000  3/23/2023   EUR   61.900
BNP Paribas Emission8.000   12/21/2023  EUR   69.310
BNP Paribas Emission12.000  12/21/2023  EUR   76.780
BNP Paribas Emission14.000  6/22/2023   EUR   75.760
BNP Paribas Emission16.000  6/22/2023   EUR   76.320
BNP Paribas Emission9.000   12/21/2023  EUR   77.120
BNP Paribas Emission14.000  3/23/2023   EUR   77.060
Bank Julius Baer & C7.400   9/18/2023   EUR   72.900
Landesbank Baden-Wue6.600   6/23/2023   EUR   74.080
Landesbank Baden-Wue8.500   6/23/2023   EUR   70.540
Landesbank Baden-Wue7.600   6/23/2023   EUR   70.520
Landesbank Baden-Wue9.500   6/23/2023   EUR   70.090
Landesbank Baden-Wue4.100   7/28/2023   EUR   51.390
Landesbank Baden-Wue2.500   8/25/2023   EUR   56.970
UniCredit Bank AG   6.900   3/24/2023   EUR   77.570
UniCredit Bank AG   8.600   3/24/2023   EUR   73.800
UniCredit Bank AG   12.700  3/24/2023   EUR   75.550
UniCredit Bank AG   16.000  3/24/2023   EUR   69.730
UniCredit Bank AG   10.600  3/24/2023   EUR   70.410
Vontobel Financial P20.500  6/23/2023   EUR   45.010
Vontobel Financial P14.000  6/23/2023   EUR   49.300
Vontobel Financial P19.500  6/23/2023   EUR   76.240
Vontobel Financial P8.500   6/23/2023   EUR   56.080
Vontobel Financial P14.000  6/23/2023   EUR   76.670
Vontobel Financial P16.500  6/23/2023   EUR   73.370
DZ Bank AG Deutsche 24.900  6/23/2023   EUR   #N/A N/A
DZ Bank AG Deutsche 19.400  6/23/2023   EUR   73.160
DZ Bank AG Deutsche 24.200  3/24/2023   EUR   69.760
UniCredit Bank AG   14.300  3/24/2023   EUR   72.520
UniCredit Bank AG   17.800  3/24/2023   EUR   67.170
UniCredit Bank AG   13.700  3/24/2023   EUR   76.880
Vontobel Financial P23.000  6/23/2023   EUR   71.910
Vontobel Financial P21.000  6/23/2023   EUR   73.920
Vontobel Financial P15.000  6/23/2023   EUR   75.500
Vontobel Financial P17.500  6/23/2023   EUR   72.430
Vontobel Financial P16.000  6/23/2023   EUR   74.550
Vontobel Financial P21.000  6/23/2023   EUR   32.010
BNP Paribas Emission9.500   12/21/2023  EUR   66.700
BNP Paribas Emission12.000  12/21/2023  EUR   63.650
BNP Paribas Emission14.000  6/22/2023   EUR   76.700
BNP Paribas Emission6.500   3/23/2023   EUR   70.470
BNP Paribas Emission7.500   12/21/2023  EUR   73.030
BNP Paribas Emission12.000  12/21/2023  EUR   77.870
BNP Paribas Emission14.000  3/23/2023   EUR   77.650
BNP Paribas Emission9.000   3/23/2023   EUR   65.900
BNP Paribas Emission16.000  3/23/2023   EUR   56.850
BNP Paribas Emission18.000  3/23/2023   EUR   56.920
BNP Paribas Emission18.000  6/22/2023   EUR   67.250
BNP Paribas Emission14.000  12/21/2023  EUR   71.820
BNP Paribas Emission13.000  3/23/2023   EUR   75.530
BNP Paribas Emission7.500   3/23/2023   EUR   72.370
BNP Paribas Emission9.500   3/23/2023   EUR   72.450
BNP Paribas Emission12.000  3/23/2023   EUR   66.380
BNP Paribas Emission15.000  3/23/2023   EUR   61.290
BNP Paribas Emission17.000  3/23/2023   EUR   61.370
BNP Paribas Emission7.000   12/21/2023  EUR   76.680
BNP Paribas Emission8.500   12/21/2023  EUR   73.900
BNP Paribas Emission10.000  12/21/2023  EUR   69.680
BNP Paribas Emission13.000  12/21/2023  EUR   67.230
BNP Paribas Emission9.000   3/23/2023   EUR   73.850
BNP Paribas Emission12.000  3/23/2023   EUR   67.280
BNP Paribas Emission14.000  3/23/2023   EUR   67.360
BNP Paribas Emission8.000   6/22/2023   EUR   73.740
BNP Paribas Emission10.000  6/22/2023   EUR   74.300
BNP Paribas Emission12.000  6/22/2023   EUR   68.480
BNP Paribas Emission10.000  12/21/2023  EUR   72.050
BNP Paribas Emission9.000   3/23/2023   EUR   74.280
BNP Paribas Emission13.000  3/23/2023   EUR   69.530
BNP Paribas Emission18.000  3/23/2023   EUR   65.420
BNP Paribas Emission12.000  12/21/2023  EUR   72.620
BNP Paribas Emission14.000  3/23/2023   EUR   70.260
BNP Paribas Emission16.000  3/23/2023   EUR   70.340
BNP Paribas Emission20.000  3/23/2023   EUR   63.080
BNP Paribas Emission14.000  6/22/2023   EUR   73.360
BNP Paribas Emission8.000   12/21/2023  EUR   76.380
BNP Paribas Emission12.000  3/23/2023   EUR   76.980
BNP Paribas Emission16.000  3/23/2023   EUR   72.370
Bank Julius Baer & C9.900   6/16/2023   USD   77.200
Bank Julius Baer & C7.700   6/16/2023   USD   70.200
Landesbank Baden-Wue6.200   6/23/2023   EUR   70.050
Landesbank Baden-Wue6.800   7/28/2023   EUR   44.270
Landesbank Baden-Wue10.000  7/28/2023   EUR   39.550
Leonteq Securities A20.000  3/28/2023   USD   69.530
Corner Banca SA     18.800  3/28/2023   CHF   62.180
Leonteq Securities A15.000  6/28/2023   USD   61.670
UBS AG/London       5.250   5/31/2023   EUR   70.300
Landesbank Baden-Wue3.350   6/26/2026   EUR   75.550
DZ Bank AG Deutsche 21.000  6/23/2023   EUR   71.750
DZ Bank AG Deutsche 4.500   6/21/2023   EUR   73.430
Raiffeisen Schweiz G16.500  3/28/2023   CHF   69.010
Raiffeisen Schweiz G8.700   12/28/2023  CHF   66.930
Zurcher Kantonalbank9.500   3/10/2023   CHF   44.950
Credit Suisse AG/Lon10.500  3/21/2023   USD   65.840
Raiffeisen Schweiz G7.200   6/1/2023    CHF   56.290
DekaBank Deutsche Gi3.100   6/28/2024   EUR   75.180
Sberbank of Russia P0.010   6/2/2028    RUB   74.000
Erste Group Bank AG 5.500   6/30/2025   EUR   76.550
UniCredit Bank AG   4.050   7/1/2024    EUR   53.060
UniCredit Bank AG   5.250   7/1/2024    EUR   21.440
UBS AG/London       5.250   5/31/2023   CHF   53.700
UBS AG/London       7.750   5/31/2023   CHF   72.300
Leonteq Securities A7.000   6/7/2023    CHF   71.000
EFG International Fi4.500   2/26/2024   USD   47.180
SG Issuer SA        1.600   9/21/2033   EUR   72.550
Societe Generale Eff5.600   9/4/2023    EUR   81.010
Landesbank Baden-Wue2.500   8/25/2023   EUR   53.380
DZ Bank AG Deutsche 0.630   12/30/2030  EUR   73.890
UniCredit Bank AG   4.550   9/28/2023   EUR   54.440
SG Issuer SA        1.800   7/6/2033    EUR   73.830
Landesbank Baden-Wue2.700   9/22/2023   EUR   60.790
Landesbank Hessen-Th1.750   7/14/2036   EUR   63.300
DZ Bank AG Deutsche 5.100   6/23/2023   EUR   55.290
DZ Bank AG Deutsche 6.500   3/22/2023   EUR   72.990
Bank Julius Baer & C15.250  3/29/2023   CHF   36.800
UBS AG/London       14.000  3/23/2023   USD   69.600
UBS AG/London       12.750  3/25/2024   CHF   71.000
UBS AG/London       11.750  3/23/2023   CHF   72.850
Zurcher Kantonalbank18.000  3/23/2023   CHF   71.840
Bank Vontobel AG    19.000  3/13/2023   EUR   37.300
UBS AG/London       14.250  3/23/2023   CHF   72.200
UBS AG/London       13.500  3/23/2023   USD   75.300
Vontobel Financial P16.250  9/22/2023   EUR   69.820
DZ Bank AG Deutsche 10.500  6/21/2023   EUR   60.850
Vontobel Financial P12.000  3/24/2023   EUR   52.540
Vontobel Financial P8.500   3/24/2023   EUR   76.660
Vontobel Financial P22.000  3/24/2023   EUR   28.370
SG Issuer SA        7.740   7/20/2025   SEK   57.270
Vontobel Financial P4.200   6/16/2023   USD   55.970
Vontobel Financial P5.100   6/16/2023   USD   54.380
Leonteq Securities A10.000  4/18/2023   USD   41.260
Nordea Bank Abp     2.000   2/3/2027    SEK   70.630
Raiffeisen Switzerla7.400   7/14/2023   CHF   72.740
Raiffeisen Switzerla6.000   1/17/2024   CHF   73.390
Leonteq Securities A7.000   12/13/2023  CHF   66.040
UBS AG/London       7.750   8/2/2023    CHF   67.900
DZ Bank AG Deutsche 4.250   3/22/2023   EUR   58.350
DZ Bank AG Deutsche 6.500   3/22/2023   EUR   58.440
DZ Bank AG Deutsche 17.800  3/24/2023   EUR   #N/A N/A
DZ Bank AG Deutsche 14.500  6/23/2023   EUR   #N/A N/A
DZ Bank AG Deutsche 13.200  9/22/2023   EUR   #N/A N/A
DZ Bank AG Deutsche 7.250   3/22/2023   EUR   26.490
DZ Bank AG Deutsche 8.250   3/22/2023   EUR   64.330
Societe Generale SA 14.000  1/10/2025   USD   72.800
Leonteq Securities A7.000   1/17/2024   CHF   73.440
Credit Suisse AG/Lon8.250   4/11/2023   USD   64.500
Corner Banca SA     8.000   12/13/2023  CHF   74.860
Leonteq Securities A10.000  3/10/2023   CHF   62.720
UBS AG/London       11.750  8/2/2023    EUR   74.600
DZ Bank AG Deutsche 6.500   3/22/2023   EUR   68.780
UBS AG/London       16.750  8/31/2023   USD   70.250
DZ Bank AG Deutsche 1.580   12/29/2031  EUR   73.220
Leonteq Securities A9.590   6/9/2023    CHF   60.730
EFG International Fi6.370   3/6/2023    USD   72.150
Banque Cantonale Vau5.400   12/6/2023   CHF   36.010
Leonteq Securities A15.000  6/13/2023   CHF   53.120
Corner Banca SA     15.000  3/10/2023   CHF   41.860
Landesbank Baden-Wue4.500   12/22/2023  EUR   67.810
Landesbank Baden-Wue3.400   12/22/2023  EUR   71.050
UBS AG/London       7.500   5/3/2023    CHF   64.950
UBS AG/London       16.250  5/3/2023    USD   42.100
UBS AG/London       12.500  6/8/2023    CHF   64.850
UBS AG/London       8.500   12/8/2023   EUR   75.250
UBS AG/London       6.750   6/8/2023    CHF   62.650
UBS AG/London       7.500   6/8/2023    CHF   62.850
SG Issuer SA        2.100   12/6/2033   EUR   49.120
UBS AG/London       11.250  8/31/2023   CHF   61.100
Zurcher Kantonalbank7.500   7/10/2023   USD   66.440
Leonteq Securities A9.000   7/14/2023   CHF   71.080
Raiffeisen Switzerla20.000  9/6/2023    CHF   47.360
Leonteq Securities A8.200   1/17/2024   CHF   62.330
UBS AG/London       8.750   6/8/2023    CHF   71.750
DZ Bank AG Deutsche 9.750   9/20/2023   EUR   47.400
BNP Paribas Emission3.000   3/23/2023   EUR   55.090
Landesbank Hessen-Th1.500   1/20/2037   EUR   63.000
DZ Bank AG Deutsche 5.500   3/20/2023   EUR   71.450
Landesbank Baden-Wue3.750   2/27/2026   EUR   73.860
Leonteq Securities A9.000   3/9/2023    CHF   65.050
Zurcher Kantonalbank9.000   7/10/2023   CHF   76.800
Sberbank of Russia P0.010   12/7/2026   RUB   71.600
Ebis OOO            14.500  11/25/2025  RUB   2.320
Goldman Sachs Intern0.060   1/13/2025   EUR   58.100
Bank Vontobel AG    10.500  6/30/2023   CHF   24.400
UBS AG/London       5.250   6/8/2023    CHF   62.250
UBS AG/London       9.500   12/8/2023   USD   58.400
UBS AG/London       18.500  6/8/2023    USD   43.850
UBS AG/London       7.750   12/8/2023   CHF   59.350
Goldman Sachs Intern0.100   1/13/2025   EUR   23.600
Goldman Sachs Intern0.070   1/13/2025   EUR   68.150
Landesbank Hessen-Th4.984   1/14/2037   EUR   62.150
BNP Paribas Emission3.000   3/23/2023   EUR   52.600
Landesbank Baden-Wue5.600   12/22/2023  EUR   64.810
Basler Kantonalbank 7.600   4/13/2023   CHF   55.030
UBS AG/London       21.000  9/7/2023    CHF   46.700
Landesbank Baden-Wue3.400   6/27/2025   EUR   73.960
UBS AG/London       5.000   4/14/2023   CHF   70.450
Raiffeisen Switzerla10.000  4/16/2024   USD   56.450
Citigroup Global Mar2.560   4/29/2025   EUR   71.440
Banque Cantonale Vau7.500   4/14/2023   CHF   28.380
UniCredit Bank AG   1.120   1/20/2031   EUR   67.750
Raiffeisen Switzerla6.500   4/12/2023   CHF   51.930
Bank Vontobel AG    5.005   10/9/2023   CHF   51.700
DZ Bank AG Deutsche 8.750   6/21/2023   EUR   47.020
UBS AG/London       6.250   4/14/2023   CHF   50.950
UBS AG/London       12.750  4/14/2023   CHF   37.800
Zurcher Kantonalbank7.300   4/18/2023   CHF   66.840
Bank Vontobel AG    15.000  6/19/2023   CHF   58.900
Bank Vontobel AG    28.500  9/18/2023   CHF   61.900
Bank Vontobel AG    6.008   4/11/2023   EUR   72.000
DZ Bank AG Deutsche 11.750  9/20/2023   EUR   47.470
UBS AG/London       11.250  4/14/2023   CHF   50.300
UBS AG/London       9.000   4/14/2023   CHF   51.200
LP Portfolio Vagyonk2.800   11/30/2030  HUF   64.400
DekaBank Deutsche Gi2.400   5/17/2024   EUR   57.130
UBS AG/London       8.250   4/21/2023   CHF   40.350
UBS AG/London       10.500  4/21/2023   CHF   13.920
EFG International Fi5.700   4/26/2023   USD   36.410
UniCredit Bank AG   0.900   7/18/2031   EUR   71.920
Landesbank Baden-Wue3.260   4/28/2023   EUR   64.970
Bank Vontobel AG    7.501   10/16/2023  CHF   52.800
UBS AG/London       6.750   4/21/2023   CHF   68.600
EFG International Fi5.800   4/26/2023   EUR   11.470
Leonteq Securities A4.500   10/23/2023  CHF   47.860
Sberbank of Russia P0.010   4/22/2026   RUB   75.600
Bank Julius Baer & C18.700  9/15/2023   USD   73.800
Bank Vontobel AG    10.000  9/11/2023   CHF   67.800
Leonteq Securities A9.000   3/29/2023   CHF   54.450
Vontobel Financial P15.800  3/30/2023   EUR   42.030
Bank Julius Baer & C6.550   5/10/2023   CHF   70.900
UBS AG/London       7.000   5/19/2023   CHF   59.400
Societe Generale SA 0.973   4/13/2023   USD   #N/A N/A
UniCredit Bank AG   0.740   1/20/2031   EUR   72.420
UniCredit Bank AG   1.560   1/20/2031   EUR   71.540
Landesbank Hessen-Th1.400   1/13/2037   EUR   63.300
Sberbank of Russia P0.010   11/27/2026  RUB   71.600
Leonteq Securities A11.210  6/6/2023    CHF   16.740
Vontobel Financial P16.750  9/22/2023   EUR   70.990
Bank Vontobel AG    8.000   5/26/2023   CHF   31.600
Bank Vontobel AG    8.500   6/5/2023    CHF   61.800
Raiffeisen Switzerla7.700   1/10/2024   CHF   67.990
Leonteq Securities A6.100   12/6/2023   CHF   68.550
Bank Vontobel AG    8.250   11/27/2023  EUR   70.500
Bank Vontobel AG    9.000   6/5/2023    CHF   61.100
Leonteq Securities A14.000  7/7/2023    CHF   64.360
Raiffeisen Schweiz G15.200  3/7/2023    CHF   53.970
Raiffeisen Schweiz G7.300   3/4/2024    CHF   64.320
Bank Julius Baer & C10.000  8/7/2023    USD   57.000
Leonteq Securities A6.000   2/7/2024    CHF   64.010
Credit Suisse AG/Lon9.000   5/2/2023    CHF   35.730
Vontobel Financial P10.000  3/24/2023   EUR   56.660
Vontobel Financial P6.000   3/24/2023   EUR   57.040
Raiffeisen Bank Inte7.500   2/7/2024    EUR   67.770
Raiffeisen Switzerla9.300   8/4/2023    USD   64.580
Raiffeisen Schweiz G9.000   8/4/2023    CHF   69.590
Bank Vontobel AG    7.500   2/5/2024    CHF   73.700
Bank Vontobel AG    10.750  5/8/2023    CHF   63.500
Bank Vontobel AG    12.250  8/4/2023    EUR   32.500
Sberbank of Russia P0.010   12/22/2026  RUB   73.100
Raiffeisen Schweiz G7.200   6/21/2023   CHF   75.370
DekaBank Deutsche Gi3.200   7/21/2025   EUR   72.580
UBS AG/London       9.250   6/23/2023   USD   52.650
UBS AG/London       8.000   6/23/2023   CHF   43.850
UBS AG/London       7.750   6/23/2023   CHF   37.050
UBS AG/London       7.250   6/23/2023   CHF   65.800
Raiffeisen Schweiz G7.900   7/28/2023   CHF   69.950
Bank Vontobel AG    6.000   4/28/2023   CHF   71.000
Bank Vontobel AG    5.000   7/28/2023   CHF   74.200
Bank Vontobel AG    11.000  1/29/2024   CHF   67.500
UBS AG/London       16.120  5/14/2027   SEK   75.730
Sberbank of Russia P0.010   2/1/2029    RUB   68.200
Societe Generale SA 10.000  1/31/2024   USD   59.350
Bank Julius Baer & C7.250   5/5/2023    EUR   44.900
Zurcher Kantonalbank5.100   1/31/2025   CHF   49.440
Bank Julius Baer & C4.600   4/4/2023    CHF   69.400
Bank Julius Baer & C8.400   4/4/2023    CHF   58.900
Bank Vontobel AG    15.000  6/30/2023   CHF   26.400
Landesbank Hessen-Th1.500   2/10/2037   EUR   63.450
MKB-Leasing OOO     9.200   12/22/2027  RUB   65.000
Leonteq Securities A25.000  9/12/2023   CHF   70.360
VTB Bank PJSC       0.010   3/25/2026   RUB   73.370
Sberbank of Russia P0.010   2/4/2027    RUB   68.800
Landesbank Hessen-Th1.000   3/9/2037    EUR   66.000
Corner Banca SA     11.000  5/8/2023    CHF   73.050
Leonteq Securities A9.000   8/7/2023    CHF   38.630
DZ Bank AG Deutsche 2.120   12/29/2031  EUR   73.120
Vontobel Financial P7.500   3/24/2023   EUR   61.170
Vontobel Financial P9.000   3/24/2023   EUR   56.590
Vontobel Financial P17.500  3/24/2023   EUR   69.230
Vontobel Financial P15.500  3/24/2023   EUR   72.350
Vontobel Financial P14.500  3/24/2023   EUR   55.420
Vontobel Financial P12.500  3/24/2023   EUR   58.610
Vontobel Financial P6.500   3/24/2023   EUR   71.560
Vontobel Financial P5.000   3/24/2023   EUR   77.420
Vontobel Financial P8.500   3/24/2023   EUR   66.540
Vontobel Financial P10.000  3/24/2023   EUR   62.250
Vontobel Financial P16.500  3/24/2023   EUR   52.200
Vontobel Financial P19.000  3/24/2023   EUR   69.720
UBS AG/London       6.500   8/23/2023   CHF   70.250
UBS AG/London       8.250   8/23/2023   CHF   61.500
UBS AG/London       11.750  8/23/2023   CHF   38.050
UBS AG/London       10.000  8/23/2023   CHF   59.350
Vontobel Financial P14.500  3/24/2023   EUR   74.210
Vontobel Financial P16.000  3/24/2023   EUR   71.670
SG Issuer SA        6.500   1/20/2025   SEK   72.020
SG Issuer SA        8.410   1/20/2027   SEK   57.830
Credit Suisse AG/Lon8.000   3/22/2023   CHF   69.940
Landesbank Baden-Wue5.000   12/22/2023  EUR   74.080
Landesbank Baden-Wue9.500   12/22/2023  EUR   62.780
Landesbank Baden-Wue7.750   12/22/2023  EUR   68.020
Landesbank Baden-Wue6.000   12/22/2023  EUR   55.770
Landesbank Baden-Wue8.100   12/22/2023  EUR   53.000
Landesbank Baden-Wue6.300   12/22/2023  EUR   57.630
Landesbank Baden-Wue3.000   12/22/2023  EUR   70.580
Landesbank Baden-Wue3.100   12/22/2023  EUR   35.980
Landesbank Baden-Wue4.150   12/22/2023  EUR   52.400
Landesbank Baden-Wue3.000   12/22/2023  EUR   69.600
UBS AG/London       5.750   12/29/2023  CHF   67.100
UBS AG/London       9.500   6/29/2023   CHF   34.350
UBS AG/London       6.500   12/29/2023  USD   58.650
UBS AG/London       16.000  12/29/2023  USD   64.150
UBS AG/London       10.250  6/29/2023   CHF   72.700
Vontobel Financial P7.710   3/30/2023   EUR   74.810
Credit Suisse AG/Lon8.500   3/24/2023   USD   54.850
Leonteq Securities A7.000   1/5/2024    CHF   73.050
Leonteq Securities A11.000  3/30/2023   CHF   52.210
Leonteq Securities A8.000   6/30/2023   CHF   72.230
Leonteq Securities A9.000   6/30/2023   CHF   51.420
Bank Julius Baer & C9.600   3/30/2023   USD   65.200
Leonteq Securities A12.000  3/30/2023   CHF   23.870
DZ Bank AG Deutsche 6.250   3/20/2023   EUR   43.740
Raiffeisen Switzerla6.500   1/3/2024    CHF   72.470
Raiffeisen Switzerla9.000   6/30/2023   USD   67.510
VTB Bank PJSC       0.010   11/25/2026  RUB   68.450
Biznes Nedvizhimost 10.800  12/18/2026  RUB   62.000
Luzerner Kantonalban5.000   6/28/2023   CHF   60.200
Zurcher Kantonalbank9.000   6/28/2023   CHF   72.120
SG Issuer SA        2.000   12/22/2036  EUR   60.750
UniCredit Bank AG   3.700   1/27/2025   EUR   67.150
Raiffeisen Schweiz G6.000   12/27/2023  CHF   70.010
UBS AG/London       5.500   1/12/2024   CHF   59.600
Glavtorg LLC        14.500  12/12/2024  RUB   5.280
Landesbank Baden-Wue2.500   7/24/2026   EUR   72.120
EFG International Fi14.000  6/28/2023   CHF   34.220
Landesbank Baden-Wue5.900   12/22/2023  EUR   39.310
Landesbank Baden-Wue4.600   12/22/2023  EUR   42.090
Landesbank Baden-Wue2.400   12/22/2023  EUR   49.880
Landesbank Baden-Wue4.200   12/22/2023  EUR   60.130
Landesbank Baden-Wue2.600   12/22/2023  EUR   65.870
Landesbank Baden-Wue7.500   12/22/2023  EUR   71.400
Landesbank Baden-Wue3.100   12/22/2023  EUR   62.080
Landesbank Baden-Wue2.300   12/22/2023  EUR   64.080
Landesbank Baden-Wue9.200   12/22/2023  EUR   72.410
Landesbank Baden-Wue7.000   12/22/2023  EUR   30.170
Landesbank Baden-Wue2.500   12/22/2023  EUR   55.890
Landesbank Baden-Wue4.500   12/22/2023  EUR   64.530
Landesbank Baden-Wue2.200   12/22/2023  EUR   76.140
UBS AG/London       8.500   6/29/2023   CHF   60.100
UBS AG/London       4.750   12/29/2023  CHF   67.500
UBS AG/London       6.500   12/29/2023  CHF   70.100
UBS AG/London       6.750   6/29/2023   CHF   67.750
UBS AG/London       6.000   6/29/2023   CHF   60.000
Banque Cantonale Vau12.360  6/27/2023   CHF   72.480
Leonteq Securities A8.000   6/30/2023   CHF   71.200
Leonteq Securities A8.000   6/30/2023   USD   58.250
DZ Bank AG Deutsche 5.000   3/20/2023   EUR   50.570
VTB Bank PJSC       0.010   12/6/2024   RUB   80.020
Erste Group Bank AG 5.250   1/31/2026   EUR   55.550
Erste Group Bank AG 12.750  2/4/2027    EUR   73.800
UBS AG/London       7.250   6/22/2023   CHF   67.650
UBS AG/London       7.250   12/22/2023  CHF   77.700
UBS AG/London       8.000   12/22/2023  USD   57.950
Corner Banca SA     14.000  3/27/2023   CHF   49.200
Bank Vontobel AG    11.000  6/27/2023   CHF   75.400
Raiffeisen Schweiz G6.000   12/27/2023  CHF   69.470
Raiffeisen Schweiz G10.000  3/23/2023   CHF   36.490
UBS AG/London       6.250   1/12/2024   CHF   70.500
UBS AG/London       9.000   7/12/2023   EUR   61.450
UBS AG/London       6.500   1/12/2024   CHF   67.200
Landesbank Hessen-Th1.100   7/23/2036   EUR   62.050
Goldman Sachs & Co W7.000   6/21/2023   EUR   69.560
Landesbank Baden-Wue4.000   7/25/2025   EUR   34.190
Barclays Bank PLC   2.550   6/19/2024   USD   71.777
VTB Bank PJSC       0.010   4/8/2026    RUB   71.010
UBS AG/London       8.250   6/22/2023   CHF   67.800
UBS AG/London       6.250   12/22/2023  CHF   60.950
UBS AG/London       10.000  6/22/2023   CHF   59.750
UBS AG/London       10.250  6/22/2023   CHF   52.550
UBS AG/London       7.500   6/22/2023   CHF   58.950
UBS AG/London       5.250   12/22/2023  CHF   75.850
Bank Julius Baer & C12.000  3/23/2023   EUR   71.850
Leonteq Securities A8.000   3/27/2023   CHF   35.800
Leonteq Securities A7.000   6/27/2023   CHF   70.520
Leonteq Securities A7.000   12/27/2023  CHF   71.610
Credit Suisse AG/Lon8.000   3/21/2023   CHF   72.400
Bank Vontobel AG    10.000  3/24/2023   EUR   53.600
Bank Vontobel AG    10.250  3/24/2023   CHF   46.100
Bank Vontobel AG    11.250  3/24/2023   CHF   46.300
Bank Vontobel AG    5.500   12/27/2023  CHF   60.600
Sberbank of Russia P0.010   12/11/2026  RUB   68.720
Raiffeisen Switzerla9.000   6/27/2023   USD   58.550
UBS AG/London       5.250   1/12/2024   USD   67.050
UBS AG/London       9.500   1/12/2024   CHF   68.000
Leonteq Securities A8.000   6/27/2023   USD   52.410
Raiffeisen Bank Inte10.000  2/12/2024   EUR   36.960
Bank Vontobel AG    7.250   6/12/2023   CHF   30.600
EFG International Fi9.800   6/21/2023   EUR   15.530
Vontobel Financial P3.500   7/3/2023    EUR   44.600
UBS AG/London       8.250   6/16/2023   CHF   50.200
Goldman Sachs & Co W6.000   6/21/2023   EUR   69.310
Credit Suisse AG/Lon8.750   5/25/2023   CHF   71.660
Landesbank Baden-Wue3.000   3/22/2024   EUR   74.810
Landesbank Baden-Wue4.100   3/22/2024   EUR   71.400
Landesbank Baden-Wue3.000   3/22/2024   EUR   68.690
Landesbank Baden-Wue4.200   3/22/2024   EUR   63.980
Landesbank Baden-Wue5.600   3/22/2024   EUR   60.220
Landesbank Baden-Wue5.000   3/22/2024   EUR   71.640
Landesbank Baden-Wue5.000   3/22/2024   EUR   74.160
Credit Suisse AG/Lon10.500  5/25/2023   EUR   66.440
Landesbank Baden-Wue4.300   3/22/2024   EUR   73.640
Landesbank Baden-Wue5.600   3/22/2024   EUR   74.740
Vontobel Financial P11.000  3/24/2023   EUR   69.600
Vontobel Financial P8.750   3/24/2023   EUR   69.480
Bank Julius Baer & C15.400  3/8/2023    USD   53.800
Landesbank Baden-Wue6.000   3/24/2023   EUR   75.450
UBS AG/London       7.640   4/20/2026   SEK   65.030
Leonteq Securities A12.000  3/7/2023    CHF   70.670
DZ Bank AG Deutsche 4.800   3/20/2023   EUR   50.090
Leonteq Securities A17.000  3/7/2023    CHF   35.210
Landesbank Baden-Wue3.460   3/22/2024   EUR   75.230
UBS AG/London       4.000   8/3/2026    SEK   65.420
Vontobel Financial P22.500  6/23/2023   EUR   60.120
Vontobel Financial P15.000  9/22/2023   EUR   67.400
Landesbank Baden-Wue7.200   8/23/2024   EUR   48.280
Bank Vontobel AG    21.000  8/21/2023   EUR   72.300
Landesbank Baden-Wue9.200   8/23/2024   EUR   46.040
Landesbank Baden-Wue5.500   8/23/2024   EUR   52.420
Vontobel Financial P15.250  9/22/2023   EUR   74.260
Credit Suisse AG/Lon10.000  8/22/2023   CHF   56.270
Leonteq Securities A28.800  8/25/2023   CHF   72.130
Raiffeisen Switzerla16.800  8/29/2023   CHF   73.620
Zurcher Kantonalbank8.000   6/21/2023   CHF   54.790
UBS AG/London       6.800   6/15/2026   USD   64.060
VTB Bank PJSC       0.010   4/22/2026   RUB   72.000
Leonteq Securities A23.000  8/29/2023   CHF   46.210
Vontobel Financial P10.000  6/23/2023   EUR   70.660
Vontobel Financial P18.000  6/23/2023   EUR   67.250
Vontobel Financial P16.500  6/23/2023   EUR   62.750
Vontobel Financial P15.000  6/23/2023   EUR   69.870
Vontobel Financial P24.000  6/23/2023   EUR   53.290
Vontobel Financial P8.000   6/23/2023   EUR   72.290
Vontobel Financial P16.000  6/23/2023   EUR   60.370
Vontobel Financial P18.500  6/23/2023   EUR   58.360
Vontobel Financial P12.000  6/23/2023   EUR   65.580
Vontobel Financial P6.500   6/23/2023   EUR   76.420
Vontobel Financial P14.000  6/23/2023   EUR   62.810
Vontobel Financial P19.000  6/23/2023   EUR   68.800
Vontobel Financial P16.500  6/23/2023   EUR   71.570
Vontobel Financial P17.000  6/23/2023   EUR   68.420
Vontobel Financial P16.000  6/23/2023   EUR   69.420
Vontobel Financial P11.000  6/23/2023   EUR   76.420
Vontobel Financial P10.000  6/23/2023   EUR   77.970
Vontobel Financial P19.500  6/23/2023   EUR   59.650
Vontobel Financial P6.500   6/23/2023   EUR   75.970
Vontobel Financial P12.500  6/23/2023   EUR   65.150
Vontobel Financial P14.000  6/23/2023   EUR   63.470
Vontobel Financial P8.500   6/23/2023   EUR   71.050
Vontobel Financial P7.500   6/23/2023   EUR   73.430
Vontobel Financial P10.000  6/23/2023   EUR   68.970
Vontobel Financial P15.000  6/23/2023   EUR   70.780
Vontobel Financial P17.500  6/23/2023   EUR   60.790
Vontobel Financial P18.500  6/23/2023   EUR   60.310
DZ Bank AG Deutsche 4.750   9/18/2023   EUR   66.480
Vontobel Financial P16.500  6/23/2023   EUR   74.500
Vontobel Financial P13.500  6/23/2023   EUR   76.350
Vontobel Financial P16.000  6/23/2023   EUR   74.700
Vontobel Financial P14.500  6/23/2023   EUR   74.910
Vontobel Financial P14.500  6/23/2023   EUR   67.940
Vontobel Financial P18.000  6/23/2023   EUR   71.170
Vontobel Financial P15.500  6/23/2023   EUR   73.570
Vontobel Financial P17.000  6/23/2023   EUR   72.410
Vontobel Financial P19.500  6/23/2023   EUR   71.320
Vontobel Financial P17.000  6/23/2023   EUR   73.260
Vontobel Financial P20.500  6/23/2023   EUR   61.550
Vontobel Financial P19.000  6/23/2023   EUR   62.910
Vontobel Financial P16.000  6/23/2023   EUR   66.130
Vontobel Financial P17.500  6/23/2023   EUR   64.520
Vontobel Financial P13.000  6/23/2023   EUR   69.900
Vontobel Financial P9.500   6/23/2023   EUR   77.000
Vontobel Financial P12.000  6/23/2023   EUR   72.240
Vontobel Financial P10.500  6/23/2023   EUR   74.440
Leonteq Securities A15.500  6/13/2023   CHF   74.900
Swissquote Bank SA  15.200  6/13/2023   CHF   51.100
Swissquote Bank SA  25.000  6/13/2023   CHF   59.050
Banque Cantonale Vau6.850   6/7/2023    CHF   65.700
Leonteq Securities A21.000  6/13/2023   CHF   57.320
DZ Bank AG Deutsche 7.500   9/20/2023   EUR   64.170
DZ Bank AG Deutsche 10.500  6/21/2023   EUR   75.110
UniCredit Bank AG   11.000  3/24/2023   EUR   45.070
UniCredit Bank AG   9.900   3/24/2023   EUR   46.810
UniCredit Bank AG   14.600  3/24/2023   EUR   40.660
UniCredit Bank AG   13.300  3/24/2023   EUR   42.020
UniCredit Bank AG   8.100   3/24/2023   EUR   50.730
UniCredit Bank AG   8.900   3/24/2023   EUR   48.690
UniCredit Bank AG   12.100  3/24/2023   EUR   43.490
Bank Julius Baer & C9.750   6/14/2023   CHF   45.450
Raiffeisen Schweiz G15.000  6/14/2023   CHF   73.220
Raiffeisen Schweiz G14.500  6/14/2023   CHF   54.500
Sberbank of Russia P0.010   1/26/2027   RUB   68.900
UBS AG/London       6.000   8/9/2023    CHF   68.950
UBS AG/London       10.500  8/9/2023    CHF   71.300
UBS AG/London       9.250   8/9/2023    USD   61.650
Credit Suisse AG/Lon8.000   4/18/2023   CHF   31.140
UBS AG/London       9.000   8/9/2023    CHF   54.750
UBS AG/London       8.500   8/9/2023    CHF   73.800
Corner Banca SA     10.000  7/24/2023   USD   62.050
Raiffeisen Schweiz G7.100   1/24/2024   CHF   73.650
Leonteq Securities A9.000   4/21/2023   USD   49.630
Sberbank of Russia P0.010   1/15/2027   RUB   68.100
UBS AG/London       13.000  6/2/2023    CHF   67.150
Leonteq Securities A12.000  4/24/2023   USD   56.020
Leonteq Securities A15.000  4/21/2023   CHF   41.080
Leonteq Securities A14.000  4/21/2023   CHF   50.630



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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 2023.  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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