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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, October 16, 2023, Vol. 24, No. 207

                           Headlines



G E R M A N Y

SYNLAB AG: Fitch Assigns 'BB' LongTerm IDR on Watch Negative


I R E L A N D

ANCHORAGE CAPITAL 1: Moody's Affirms 'B1' Rating on Class F Notes
EURO-GALAXY III: Fitch Hikes Rating on Cl. F-RRR Notes to 'B+sf'


I T A L Y

ARTS CONSUMER 2023: Moody's Gives Ba1 Rating to EUR27.5MM D Notes


K A Z A K H S T A N

KAZAKHSTAN UTILITY: Fitch Hikes Foreign Currency IDR to 'BB-'
MANGISTAU REGIONAL: Fitch Hikes Foreign Currency IDR to 'BB-'


N E T H E R L A N D S

FLAMINGO GROUP: EUR280MM Bank Debt Trades at 28% Discount


R O M A N I A

LIBERTY GALAȚI: Faces Insolvency Claims from Suppliers


S P A I N

AQUILES SPAIN: Moody's Lowers CFR to B3, Alters Outlook to Stable


U N I T E D   K I N G D O M

ALBION FINANCING 3: Moody's Rates New EUR300M Term Loan Add-on 'B1'
AMPHORA FINANCE: GBP301MM Bank Debt Trades at 70% Discount
CARILLION PLC: KPMG Faces Record GBP21MM Fine Over Audits
DAILY MAIL: Fitch Affirms 'BB+' LongTerm IDR, Outlook Negative
HODGSON ACOUSTICS: Bought Out of Administration by Wiltech

JERSEY REDS: Creditors' Meeting Scheduled for October 25
PINNACLE BIDCO: Fitch Rates GBP475MM & EUR380MM Sr. Notes 'B-'
PINNACLE BIDCO: Moody's Affirms 'B3' CFR, Outlook Remains Stable


X X X X X X X X

[*] BOND PRICING: For the Week October 9 to October 13, 2023

                           - - - - -


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G E R M A N Y
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SYNLAB AG: Fitch Assigns 'BB' LongTerm IDR on Watch Negative
------------------------------------------------------------
Fitch Ratings has placed Synlab AG (Synlab) 'BB' Long-Term Issuer
Default Ratings (IDR) and its senior unsecured instrument rating on
Rating Watch Negative (RWN).

The RWN reflects the material risk for Synlab's credit profile that
could arise as result of the announced takeover by its key
shareholder Cinven. Fitch believes that upon successfully achieving
control, Cinven would likely re-leverage the group and switch to a
more aggressive financial policy, which in Fitch's view could
result in a multi-notch downgrade and informs Fitch's Negative
Watch.

Fitch will resolve the RWN and downgrade the IDR upon completion of
the buyout. The magnitude of the downgrade will depend on the
leverage at the time of the buyout, as well as the future financial
policy and strategy of the group.

KEY RATING DRIVERS

RWN Due to Near-Term Ownership Changes: The RWN reflects a high
likelihood of an adverse impact on Synlab's credit profile stemming
from the ongoing takeover by Cinven. As a private-equity firm,
Cinven has a record of funding and operating buyout companies on
high financial leverage.

Cinven was the controlling owner of Synlab from 2015 to the 2021
IPO and had managed the company with an EBITDA leverage at around
7x for several years. Prior to the IPO, Fitch had rated Synlab
three notches below the current IDR at 'B'. Fitch will resolve the
RWN once the details on the post-acquisition capital structure and
financial policy have become available, which, in Fitch's view,
could lead to a multi-notch downgrade to a level similar to its
pre-IPO IDR of 'B'.

Cinven currently owns around 43% of Synlab's shares and has entered
into irrevocable undertakings with major shareholders owning a 36%
stake, including Novo Holdings and Ontario Teachers' Pension Plan
Board. The offer is subject to approval by the German Federal
Financial Supervisory Authority (BaFin).

Synlab's existing rating drivers are detailed in "Fitch Affirms
Synlab AG at 'BB'; Outlook Stable", dated 4 April 2023

DERIVATION SUMMARY

Synlab is the largest lab-testing company in Europe. Following its
IPO in April 2021, Synlab's 'BB' IDR reflects the group's large
scale, with sales sustained around EUR2.7 billion (excluding the
pandemic contribution) and market-leading positions in the European
lab-testing market, alongside a defensive business model given the
infrastructure-like nature of lab-testing services.

Compared with other investment-grade (IG) global medical diagnostic
peers such as Eurofins Scientific S.E. (BBB-/Stable) and Quest
Diagnostics Inc (BBB/Positive), Synlab is more geographically
concentrated in Europe (around 95% of sales) and is more exposed to
the routine lab-testing market. In addition, the IG Eurofins and
Quest are 2x-3x larger in total sales and more diversified across
other diagnostic markets such as environmental and food testing.
Synlab's profitability has been broadly in line with IG peers',
with solid EBITDAR margins of at least 20% and strong
high-single-digit FCF margins from 2020 to 2022.

Synlab's 'BB' IDR also factors in a conservative financial risk
profile following the IPO, which benefited from the 2020-2022
temporary positive impact of the pandemic. Fitch expects the group
to maintain its EBITDAR adjusted leverage below 4.0x, with some
headroom under the 'BB' rating category. The conservative financial
policy differentiates Synlab from smaller, more aggressively
leveraged Laboratoire Eimer Selas (B/Stable) and Inovie Group
(B/Negative) with EBITDAR leverage projected between 6.0x and
8.0x.

KEY ASSUMPTIONS

Fitch's Rating Case Assumptions currently reflect the basis for
Fitch 'BB' IDR and do not reflect post takeover assumptions:

- Revenue to decline 18% in 2023 as a result of falling Covid-19
test sales, despite organic sales growth of the non-Covid-19
underlying business at around 4%;

- Organic sales growth of around 2% for 2024-2026;

- Annual net acquisitions at EUR100 million at enterprise value
(EV)/EBITDA multiples of 10x;

- EBITDA margins (excluding IFRS16 rents) declining to 13.5% in
2023 from 20% in 2022, before gradually improving towards 16% by
2026;

- Rent expense at EUR105 million in 2023, and gradually increasing
to EUR110 million in 2024;

- Capex at 5% of sales in 2023, followed by 4% to 2026;

- Common dividends declining to EUR55 million in 2024 from EUR73
million in 2023, before gradually improving towards EUR65 million
in 2026;

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade:

- The ratings are on RWN, therefore positive rating action is
unlikely. However, if the transaction does not materialize and
Synlab is able to maintain a financial structure and financial
policy commensurate with the current rating level, it could result
in the removal of the RWN and the affirmation of the ratings.

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade:

- The completion of the Cinven takeover leading us to assess
Synlab's credit profile as weaker due to a higher financial
leverage and/or a more aggressive financial policy, would result in
the RWN being resolved with a possible multi-notch downgrade.

For previous rating sensitivities, see "Fitch Affirms Synlab AG at
'BB'; Outlook Stable" dated 4 April 2023.

LIQUIDITY AND DEBT STRUCTURE

Comfortable Liquidity: Synlab's liquidity is comfortable with
Fitch-defined readily available cash (net of restricted cash of
EUR50 million for daily operations) of about EUR206 million at
end-1H23, reinforced by EUR500 million available under a committed
revolving credit facility. Synlab repaid EUR100million of its TLB
in February and fully repaid the EUR220million TLB in July 2023.

Stable operating performance with moderate working capital and
capex should facilitate positive internal cash generation
throughout the rating horizon to 2026. Synlab benefits from
diversified funding sources with access to equity markets and bank
loans due in 2026-2027. It also has interest-rate hedges in place
for around EUR500 million of its debt till February 2025, partly
mitigating high interest expense.

ISSUER PROFILE

Synlab is one of Europe's largest providers of analytical and
diagnostic testing services, offering routine and specialist tests
in clinical testing, anatomical pathology testing and diagnostic
imaging. It runs operations in around 40 countries, with a
predominant focus on Europe.

ESG CONSIDERATIONS

Synlab AG has an ESG Relevance Score of '4' for Exposure to Social
Impacts due to increased risks of tightening regulation that may
constrain its ability to maintain operating profitability and cash
flows. This has a negative impact on its credit profile and is
relevant to the rating in conjunction with other factors.

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt               Rating              Recovery   Prior
   -----------               ------              --------   -----
Synlab Bondco PLC

   senior
   unsecured        LT       BB   Rating Watch On   RR4      BB

Synlab AG           LT IDR   BB   Rating Watch On            BB

   senior
   unsecured        LT       BB   Rating Watch On   RR4      BB




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I R E L A N D
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ANCHORAGE CAPITAL 1: Moody's Affirms 'B1' Rating on Class F Notes
-----------------------------------------------------------------
Moody's Investors Service has upgraded the ratings on the following
notes issued by Anchorage Capital Europe CLO 1 DAC:

EUR23,600,000 Class C Senior Secured Deferrable Floating Rate
Notes due 2031, Upgraded to A1 (sf); previously on Jul 13, 2022
Affirmed A2 (sf)

EUR13,600,000 Class D-1 Senior Secured Deferrable Floating Rate
Notes due 2031, Upgraded to Baa1 (sf); previously on Jul 13, 2022
Affirmed Baa2 (sf)

EUR6,000,000 Class D-2 Senior Secured Deferrable Fixed Rate Notes
due 2031, Upgraded to Baa1 (sf); previously on Jul 13, 2022
Affirmed Baa2 (sf)

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

EUR218,000,000 (Current outstanding amount EUR200,377,695) Class
A-1 Senior Secured Floating Rate Notes due 2031, Affirmed Aaa (sf);
previously on Jul 13, 2022 Affirmed Aaa (sf)

EUR30,000,000 (Current outstanding amount EUR27,574,912) Class A-2
Senior Secured Fixed Rate Notes due 2031, Affirmed Aaa (sf);
previously on Jul 13, 2022 Affirmed Aaa (sf)

EUR39,200,000 Class B Senior Secured Floating Rate Notes due 2031,
Affirmed Aa1 (sf); previously on Jul 13, 2022 Upgraded to Aa1 (sf)

EUR27,600,000 Class E Senior Secured Deferrable Floating Rate
Notes due 2031, Affirmed Ba2 (sf); previously on Jul 13, 2022
Affirmed Ba2 (sf)

EUR11,700,000 Class F Senior Secured Deferrable Floating Rate
Notes due 2031, Affirmed B1 (sf); previously on Jul 13, 2022
Affirmed B1 (sf)

Anchorage Capital Europe CLO 1 DAC, issued in July 2018, is a
collateralised loan obligation (CLO) backed by a portfolio of
mostly high-yield senior secured European loans. The portfolio is
managed by Anchorage Capital Group, L.L.C. The transaction's
reinvestment period ended in July 2022.

RATINGS RATIONALE

The rating upgrades on the Class C, Class D-1 and Class D-2 notes
are primarily a result of the deleveraging of the senior notes
following amortisation of the underlying portfolio since the last
rating action in July 2022. The transaction is also benefiting of a
shorter weighted average life of the portfolio which reduces the
time the rated notes are exposed to the credit risk of the
underlying portfolio.

The Class A-1 and Class A-2 notes have paid down by approximately
EUR20 million (8.1%) since the last rating action in July 2022. As
a result of the deleveraging, over-collateralisation (OC) has
increased across the capital structure. According to the trustee
report dated September 2023 [1] the Class A/B, Class C, Class D,
Class E and Class F OC ratios are reported at 141.79%, 130.28%,
122.06%, 112.09% and 108.34% compared to May 2022 [2] levels of
139.50%, 128.91%, 121.26%, 111.91% and 108.37%, respectively.

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 than it
had assumed at the last rating action in July 2022.

Key model inputs:

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: EUR379.8m

Defaulted Securities: none

Diversity Score: 50

Weighted Average Rating Factor (WARF): 2995

Weighted Average Life (WAL): 4.10 years

Weighted Average Spread (WAS) (before accounting for Euribor
floors): 3.84%

Weighted Average Coupon (WAC): 4.33%

Weighted Average Recovery Rate (WARR): 42.92%

Par haircut in OC tests and interest diversion test:  0.25%

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

Methodology Underlying the Rating Action:

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

Counterparty Exposure:

The rating action took into consideration the notes' exposure to
relevant counterparties, such as account bank, using the
methodology "Moody's Approach to Assessing Counterparty Risks in
Structured Finance" published in 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: 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.

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.

EURO-GALAXY III: Fitch Hikes Rating on Cl. F-RRR Notes to 'B+sf'
----------------------------------------------------------------
Fitch Ratings has upgraded Euro-Galaxy III CLO DAC's class B-RRR to
F-RRR notes and affirmed the class A-RRR notes. The Rating Outlooks
are Stable.

   Entity/Debt                  Rating           Prior
   -----------                  ------           -----
Euro-Galaxy III CLO DAC

   A-RRR XS2305240173     LT   AAAsf   Affirmed   AAAsf
   B-1-RRR XS2305240256   LT   AA+sf   Upgrade    AAsf
   B-2-RRR XS2305240330   LT   AA+sf   Upgrade    AAsf
   C-RRR XS2305240413     LT   A+sf    Upgrade    Asf
   D-RRR XS2305240504     LT   BBB+sf  Upgrade    BBBsf
   E-RRR XS2305240686     LT   BB+sf   Upgrade    BBsf
   F-RRR XS2305240769     LT   B+sf    Upgrade    B-sf

TRANSACTION SUMMARY

The transaction is a cash flow CLO mostly comprising senior secured
obligations. It is actively managed by PineBridge Investments
Europe Limited and it is outside of the reinvestment period.

KEY RATING DRIVERS

Stable Asset Performance: The rating actions reflect the stable
asset performance. The transaction is currently 0.1% below par. It
is passing all the collateral quality tests, portfolio profile
tests and coverage tests. Exposure to assets with a Fitch-derived
rating of 'CCC+' and below is 2.79%, according to the trustee
report as of 5 September 2023, versus a limit of 7.5%. There are
approximately EUR2.8 million of defaulted assets in the portfolio.

The transaction´s stable performance, combined with a shortened
weighted average life (WAL) covenant and the slight increase in the
credit enhancement for all the rated notes, as the most senior
notes started deleveraging in July 2023 payment date, have resulted
in larger break-even default-rate cushions versus the last review
in November of 2022. This has resulted in the upgrade of the class
B-RRR to F-RRR notes and the affirmation of the class A-RRR.

Reinvesting Transaction: Although the transaction is outside of the
reinvestment period, the manager can continue to reinvest
unscheduled principal proceeds and sale proceeds from
credit-impaired and credit-improved obligations, subject to
compliance with the reinvestment criteria. Given the manager's
ability to reinvest, its analysis is based on a stressed portfolio
testing the Fitch-calculated weighted average life (WAL),
Fitch-calculated weighted average rating factor (WARF),
Fitch-calculated weighted average recovery rate (WARR), weighted
average spread, weighted average coupon and fixed-rate asset share
to their covenanted limits.

'B'/'B-' Portfolio: Fitch assesses the average credit quality of
the transaction's underlying obligors at 'B'/ 'B-'. The WARF, as
calculated by Fitch under its latest criteria, is 24.92.

High Recovery Expectations: Senior secured obligations comprise
97.45% of the portfolio. Fitch views the recovery prospects for
these assets as more favourable than for second-lien, unsecured and
mezzanine assets. The WARR, as calculated by Fitch, is 62.8%.

Diversified Portfolio: The portfolio is well-diversified across
obligors, countries and industries. The top 10 obligor
concentration, as calculated by Fitch, is 11.94%, and no obligor
represents more than 1.5% of the portfolio balance. The exposure to
the three-largest Fitch-defined industries is 26.7% as calculated
by Fitch. The transaction includes one Fitch matrix corresponding
to top 10 obligor concentration limits at 20% and a maximum
fixed-rate asset limit at 10%. Fixed-rate assets currently are
reported by the trustee at 5.18% of the portfolio balance.

RATING SENSITIVITIES

Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade

A 25% increase of the mean default rate (RDR) and a 25% decrease of
the recovery rate (RRR) across all ratings of the identified
portfolio would have no impact on any of the rated notes.

Based on the identified portfolio, downgrades may occur if the loss
expectation is larger than initially assumed, due to unexpectedly
high levels of default and portfolio deterioration. Due to the
better metrics and shorter life of the identified portfolio than
the Fitch-stressed portfolio, the class B notes display a rating
cushion of one notch, the class D and F notes of three notches each
and the class E notes of two notches. The class A and C notes
display no rating cushion.

Should the cushion between the identified 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 and a 25% decrease of the RRR across all ratings of the
stressed portfolio would lead to downgrades of one notch for the
class A notes, three notches for the class B to class D notes, four
notches for the class E notes, to below 'B-(sf)' for the class F
notes.

Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade

A 25% reduction of the mean RDR and a 25% increase in the RRR
across all ratings of the Fitch-stressed portfolio would lead to
upgrades of up to three notches for the rated notes, except for the
'AAAsf'-rated notes, which are at the highest level on Fitch's
scale and cannot be upgraded.

During the reinvestment period, based on the Fitch-stressed
portfolio, upgrades 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 transaction's
remaining life. After the end of the reinvestment period, upgrades
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.

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

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

DATA ADEQUACY

Fitch has checked the consistency and plausibility of the
information it has received about the performance of the asset pool
and the transaction. Fitch has not reviewed the results of any
third-party assessment of the asset portfolio information or
conducted a review of origination files as part of its ongoing
monitoring.

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

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

Overall, and together with any assumptions referred to above,
Fitch's assessment of the information relied upon for the agency's
rating analysis according to its applicable rating methodologies
indicates that it is adequately reliable.




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I T A L Y
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ARTS CONSUMER 2023: Moody's Gives Ba1 Rating to EUR27.5MM D Notes
-----------------------------------------------------------------
Moody's Investors Service has assigned the following definitive
ratings to Notes issued by ARTS Consumer 2023 S.r.l.:

EUR669.5M Class A Asset Backed Floating Rate Notes due November
2065, Assigned Aa3 (sf)

EUR14.9M Class B Asset Backed Floating Rate Notes due November
2065, Assigned A2 (sf)

EUR49.1M Class C Asset Backed Floating Rate Notes due November
2065, Assigned Baa2 (sf)

EUR27.5M Class D Asset Backed Floating Rate Notes due November
2065, Assigned Ba1 (sf)

Moody's has not assigned a rating to the EUR86.3M Class E Asset
Backed Floating Rate Notes due November 2065, the EUR0.1M Class F
Asset Backed Fixed Rate and Variable Return Notes due November 2065
and the EUR12.3M Subordinated Loan due November 2065.

RATINGS RATIONALE

The Notes are backed by a one-year revolving pool of Italian
unsecured consumer loans originated by UniCredit S.p.A.
("UniCredit", Baa2(cr)/P-2(cr)). This represents their fifth ABS
issuance backed by consumer loans.

The portfolio comprises 77,928 loans with a total outstanding
principal balance of EUR847.33 million as of September 1, 2023 pool
cut-off date. The cash reserve will be funded to 1.6% of the Class
A, B, C and D Notes balance at closing and the total credit
enhancement for the Class A Notes will be 22.45%.

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

According to Moody's, the transaction benefits from various credit
strengths such as: (i) the originator's expertise and extensive
historical data showing a consistent good performance of the
originated loans; (ii) a granular and diversified portfolio, and
(iii) an amortizing cash reserve sized at 1.6% of the Class A, B, C
and D Notes balance.

However, Moody's notes that the transaction features some credit
weaknesses such as: (i) a complex structure including interest
deferral triggers for junior Notes and pro-rata payments on the
rated Notes after the end of the revolving period; (ii) a one-year
revolving period which could increase the performance volatility of
the underlying portfolio; (iii)  the operational risk related to
UniCredit performing a number of key roles in the transaction; and
(iv) a fixed-floating interest-rate mismatch, mitigated by an
interest rate swap provided by UniCredit. Various mitigants have
been included in the transaction structure such as: (i) performance
trigger which will switch back the principal payment waterfall to
sequential if the cumulative default ratio exceeds 1.5% before 12
months, 3% before 24 months, 5.7% before 36 months, and 8.0% after
36 months from the closing date; (ii) eligibility criteria and
early amortisation triggers that partially mitigate portfolio
performance deterioration; (iii)  a back-up servicer facilitator,
which should facilitate the appointment of a back-up servicer upon
a servicer termination event.

Moody's determined the portfolio lifetime expected defaults of
5.5%, expected recoveries of 10% and portfolio credit enhancement
("PCE") of 16.5% related to borrower receivables. 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 the ABSROM cash flow model to
rate Consumer ABS.

Portfolio expected defaults of 5.5% are in line with the EMEA
Consumer Loan ABS average and are based on Moody's assessment of
the lifetime expectation for the pool taking into account: (i)
historical performance of the loan book of the originator; (ii) the
fact that the transaction is revolving for one year; (iii) the
current macroeconomic environment in EMEA, (iv) benchmark
transactions; and (v) other qualitative considerations.

Portfolio expected recoveries of 10% are in line with the EMEA
Consumer Loan ABS average and are based on Moody's assessment of
the lifetime expectation for the pool taking into account: (i)
historical performance of the loan book of the originator, (ii)
benchmark transactions, and (iii) other qualitative
considerations.

PCE of 16.5% is in line with the EMEA Consumer Loan ABS average and
is based on Moody's assessment of the pool which is mainly driven
by: (i) evaluation of the underlying portfolio, complemented by the
historical performance information as provided by the originator,
(ii) the relative ranking to originator peers in the EMEA Consumer
loan market. The PCE level of 16.5% results in an implied
coefficient of variation ("CoV") of 50.6%.

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 that may cause an upgrade of the ratings of the Notes
include significantly better than expected performance of the pool
together with an increase in credit enhancement of the Notes and an
increase in the local currency ceiling.

Factors that would lead to a downgrade of the ratings include: (i)
increased counterparty risk leading to potential operational risk
of servicing or cash management interruptions; and (ii) economic
conditions being worse than forecasted resulting in higher arrears
and losses.




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

KAZAKHSTAN UTILITY: Fitch Hikes Foreign Currency IDR to 'BB-'
-------------------------------------------------------------
Fitch Ratings has upgraded Kazakhstan-based utility Limited
Liability Partnership Kazakhstan Utility Systems' (KUS) Long-Term
Foreign-Currency Issuer Default Rating (IDR) to 'BB-' from 'B+'.
The Outlook is Stable.

The upgrade mainly reflects improved liquidity with better spread
of debt maturities following the amended loan agreement with the
largest creditor, reduced frequency and size of related-party
transactions, and its expectations that KUS's financial profile
will remain strong, with FFO leverage around 2x on average over
2023-2026.

The rating continues to incorporate weak corporate governance, the
evolving regulatory framework in Kazakhstan, FX risk and overall
limited financial flexibility.

KEY RATING DRIVERS

Improving Financial Flexibility: In September 2023, KUS signed an
amendment agreement on its loan in Russian roubles, which accounted
for around 60% of Fitch-calculated debt at end-2022. It entails
extension of maturity from 2025 to 2027, lower amortisation
payments in 2023-2025 and cancellation of some covenants (not
related to leverage) that KUS was breaching in previous years.

This has improved KUS's liquidity, with the company's sources of
funding now broadly matching upcoming maturities in 2H23-2024,
compared with liquidity shortfall in previous years. In addition,
the Russian rouble depreciated 25% against the tenge from January
2023, which is positive for KUS's leverage and liquidity profile.

Reduced Related-Party Transactions: The frequency and amount of
KUS's related-party transactions have materially decreased since
2018. Some of them were resolved, including the release of asset
pledge against YDD's debt of KZT24 billion in 2022 and the
repayment of a KZT3 billion interest-free loan by a third party in
2021. Fitch continues to view KUS's corporate governance as weak,
reflecting a non-transparent ownership structure and large
related-party transactions with limited disclosure when economic
benefit to KUS is uncertain.

Low Leverage, Reasonable Coverage: Fitch forecasts FFO leverage to
be around 2x in 2023-2026 (2.2x in 2022). This is backed by cash
flow from operations averaging KZT36 billion a year, driven by
tariff growth in the generation and distribution segments, and
capex of KZT34 billion a year on average over 2023-2026. Fitch
conservatively continues treating financial interest-free aid
received from affiliated companies (KZT11.7 billion at end-2022 and
KZT6 billion at end-2021) as debt, although Fitch expects it to be
rolled over. Fitch projects FFO interest coverage to remain above
4x in 2023-2026.

Emerging Regulation: In Kazakhstan tariffs for generation,
distribution and supply segment are regulated. The regulatory
framework generally allows for recovery of the companies' costs and
investments. However, tariffs are subject to frequent revisions and
are vulnerable to regulatory interference for social reasons. This
results in lower stability of KUS' cash flows compared with markets
with more established regulation.

Healthy Growth in Generation Tariffs: Electricity generation
tariffs are approved until 2025. From July 2023 electricity
generation tariffs were increased by around 30% for KUS generation
companies Karaganda Energotsentr and Ust-Kamenogorskaya TPP. These
will remain flat thereafter until 2025, although always with
possible revisions. Over 2020-2022 average tariff growth was around
10% annually, close to inflation over that period.

Long-Term Distribution Tariffs: Electricity distribution tariffs
for KUS's networks are approved until 2025-2027. Mangistau Regional
Electricity Network Company's (MRENC, key subsidiary for KUS)
distribution tariffs were approved with an average 6% increase a
year over 2023-2025. Tariffs for Karaganda Zharyk and Ontustik
Zharyk Transit were approved with an average tariff increase of 11%
and 4% a year, respectively. The approval of long-term tariffs
improves visibility of cash flows in the distribution segment.

Earnings Upside from the Capacity Market: Around 75% of KUS's
installed capacity receives payments from the capacity market,
which represents 16% of EBITDA in 2022. These payments cover the
company's fixed costs and do not have volume risk. The tariff for
capacity has been flat since the launch of the new market in 2019.
Capacity tariff indexation would present an upside to its rating
case.

Vertical Integration; Small Scale: KUS's business profile benefits
from vertical integration and a strong position in electricity
generation, distribution and supply in highly populated central
Kazakhstan (Karaganda Region), the south and eastern regions, and
from a near-monopoly position in electricity transmission and
distribution in the Region of Mangistau, one of Kazakhstan's
strategic oil- and gas-producing regions. Together, these areas
host 35% of the country's population.

The business profile is constrained by KUS's small scale of
operations, with around 6% of the country's electricity generation,
and high exposure to coal-fired generation.

DERIVATION SUMMARY

KUS's closest peers are Kazakhstan-based utility holding JSC
Samruk-Energy (BB+/Stable, standalone credit profile, SCP: bb-) and
transmission operator Kazakhstan Electricity Grid Operating Company
(KEGOC) (BBB-/Stable, SCP: bb+). The peers have stronger market
positions than KUS due to larger operations and a wider
geographical presence within Kazakhstan.

Samruk-Energy and KEGOC have stronger liquidity profiles than KUS
due to better access to credit lines and longer maturity profiles.
KUS's financial profile has become comparable to that of
Samruk-Energy following the deleveraging in recent years, but
remains slightly weaker than that of KEGOC.

KUS is rated on a standalone basis. Samruk-Energy is rated two
notches below the sovereign under its "Government-Related Entities
Criteria". KEGOC is rated one notch below the sovereign under these
criteria.

KEY ASSUMPTIONS

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

- GDP growth of 4%-5% and CPI of 8%-15% over 2023-2027

- Electricity generation and distribution volumes to grow at low
single-digit percentages in 2023-2027; flat heat generation volumes
over the same period

- Electricity generation tariffs to increase by around 30% from
July 2023 as approved by the regulator, with below-inflation growth
in 2024-2027

- Electricity distribution tariff growth as approved by the
regulator until 2025-2027

- Cost inflation slightly below expected CPI

- Capex averaging KZT34 billion a year over 2023-2027, slightly
above KUS's management guidance

- No repayment of loans provided to third parties

- Cost of new debt going down from an average of 17% in 2023-2024
to 12%-13% thereafter as inflation in Kazakhstan moderates

RATING SENSITIVITIES

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

- Increased transparency of the ownership structure and generally
stronger corporate governance

- Increased scale of business

- Long-term predictability of the regulatory framework, with less
political interference in a stronger operating environment

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

- Deterioration of corporate governance (e.g. a significant
increase in loans and guarantees to entities outside the company),
adverse tariff changes or aggressive M&A resulting in FFO leverage
persistently higher than 3x and FFO interest coverage below 3.7x

- Worsening liquidity position, and increased reliance on
refinancing in local banks to meet maturities coming due

LIQUIDITY AND DEBT STRUCTURE

Liquidity Improved, but Still Tight: The company's liquidity
profile has improved following the amendment loan agreement with
its largest creditor. At end-June 2023, KUS had KZT2.6 billion of
cash and cash equivalents and available uncommitted credit lines of
KZT5 billion with an availability period over one year. This,
combined with expected positive FCF of around KZT9 billion, roughly
matches expected maturities of around KZT16.6 billion in 2H23-2024.
Fitch expects financial aid from related parties (KZT14.6 billion
at end-June 2023) to continue being extended or refinanced
annually.

Debt mostly comprises secured loans from local banks, which are
raised at both holdco and opco level and bonds at MRENC level. At
end-1H23 the largest creditors were JSC Sberbank Russia (KZT49
billion) and the European Bank for Reconstruction and Development
(KZT11 billion). Around 60% of Fitch-calculated debt at end-June
2023 was denominated in Russian roubles and 2% in US dollars, with
the rest in tenge.

ISSUER PROFILE

KUS is an integrated utility, with operations in electricity
generation, distribution and supply across four regions in
Kazakhstan, which in total account for 35% of the country's
population.

SUMMARY OF FINANCIAL ADJUSTMENTS

Fitch reclassified interest-free short-term loans from related
parties to debt from other accounts payable.

Fitch reclassified cash with restricted use to restricted cash from
other current assets.

ESG CONSIDERATIONS

Limited Liability Partnership Kazakhstan Utility Systems has an ESG
Relevance Score of '4' for Governance Structure and '4' for Group
Structure due to non-transparent ownership structure and large
related-party and third-party transactions. These factors have a
negative impact on the credit profile and are relevant to the
rating, in conjunction with other rating factors.

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt               Rating                 Prior
   -----------               ------                 -----
Limited Liability
Partnership
Kazakhstan
Utility Systems    LT IDR      BB-         Upgrade    B+

                   LC LT IDR   BB-         Upgrade    B+

                   Natl LT     BBB+(kaz)   Upgrade    BBB(kaz)


MANGISTAU REGIONAL: Fitch Hikes Foreign Currency IDR to 'BB-'
-------------------------------------------------------------
Fitch Ratings has upgraded Kazakhstan-based Mangistau Regional
Electricity Network Company's (MRENC) Long-Term Foreign-Currency
Issuer Default Rating (IDR) to 'BB-' from 'B+'. The Outlook is
Stable.

The upgrade follows the upgrade of MRENC's majority shareholder,
Limited Liability Partnership Kazakhstan Utility Systems (KUS),
which owns 52.63% of ordinary shares. MRENC's ratings are aligned
with the parent due to strong legal incentive to support, as KUS
guarantees about 80% of MRENC's debt.

MRENC's Standalone Credit Profile (SCP) of 'b+' is constrained by
the company's small size, operations in only one region in western
Kazakhstan, industry and customer concentrations, and an evolving
regulatory framework. It also reflects the company's near-monopoly
position in electricity transmission and distribution in the Region
of Mangistau, one of Kazakhstan's strategic oil- and gas-producing
regions.

KEY RATING DRIVERS

Guarantees Drive Ratings Equalisation: Fitch views KUS as a
stronger parent with strong legal ties with MRENC. This supports
MRENC's rating being equalised with the parent under Fitch's
"Parent and Subsidiary Rating Linkage Criteria". KUS owns 50.19% of
equity or 52.63% of ordinary shares in MRENC and provided
guarantees under its loan with the European Bank for Reconstruction
and Development (EBRD), which represents around 80% of MRENC's
debt. Fitch expects KUS to continue providing guarantees for a
major portion of MRENC's debt over the rating horizon.

Long-Term Distribution Tariffs: Electricity distribution tariffs
are approved until end-2025 with an average 6% increase a year for
legal entities (90% of electricity distribution volumes for MRENC)
over 2023-2025. Tariffs for households and utility companies are
approved with an average 3% and 7% growth a year, respectively. The
approval of long-term tariffs improves visibility of the company's
cash flows.

Strong Financial Profile: Fitch forecasts the company's FFO
leverage to remain below 2x on average over 2023-2027, which is
strong for the rating. This is driven by healthy cash flow from
operations at around KZT6 billion a year over 2023-2026 and limited
capex. MRENC has large headroom under the EBRD loan covenants of
debt to EBITDA below 4.5x and an interest coverage ratio above
2.5x.

Emerging Regulation: The regulatory framework in Kazakhstan
generally allows for recovery of the companies' costs and
investments. However, tariffs are subject to frequent revisions and
are vulnerable to regulatory interference for social reasons.
MRENC's tariffs for households and utility companies are almost
three times lower than for legal entities, which implies
cross-subsidising between those customer groups.

Small Scale, Concentrated Customer Base: The business profile is
constrained by MRENC's small scale of operations in only one region
in western Kazakhstan, exposing the company to service disruption
risk caused by a core network failure, and dependence on key
personnel. Another constraining factor is high exposure to a single
industry (oil and gas) and within that, high customer
concentration.

Interest Fluctuations, Limited FX Exposure: Around 70% of MRENC's
gross debt at end-2022 related to the EBRD loan, with a floating
rate linked to inflation. Fitch expects FFO interest coverage at
slightly above 3x in 2023 based on around 15% inflation, with
subsequent improvement in interest coverage once inflation
moderates to below 10% from 2024. FX exposure is limited, as only
10% of debt at end-2022 was in US dollars, with the remaining part
in tenge.

DERIVATION SUMMARY

MRENC is a small electricity distribution company in western
Kazakhstan. It has a weaker business profile than Kazakhstan
Electricity Grid Operating Company (KEGOC) (BBB-/Stable, SCP: bb+),
which operates nationwide, with greater geographic diversification
and lower volume risk. MRENC, like other utilities in Kazakhstan,
is subject to regulatory uncertainties influenced by macroeconomic
shocks and possible political interference.

Another peer is Uzbekistan-based distribution and supply company
Regional Electrical Power Networks JSC (BB-/Stable, SCP: b-). It
has a larger asset base and greater geographical and customer
diversification than MRENC, which is more than offset by
Mangistau's more established regulatory framework, with a longer
record and multi-year tariffs, and a stronger operating environment
in Kazakhstan, driving the difference between the SCPs of the two
companies in favour of MRENC.

The IDRs are driven by parent-subsidiary linkage (Mangistau) and
government-related entity (Regional Electrical Power Networks)
considerations.

KEY ASSUMPTIONS

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

- GDP growth of 4%-5% and CPI of 8%-15% over 2023-2027

- Electricity distribution volumes to increase at around 2% a year
in 2023-2027

- Electricity distribution tariff for legal entities to increase by
6% on average a year until 2025 as approved by the regulator

- Cost inflation slightly below expected CPI to reflect the
company's cost-control efforts

- Capex on average at around KZT5 billion annually for 2023-2027,
slightly above management guidance

- Zero dividend payments on ordinary shares and fixed payment on
preference shares

RATING SENSITIVITIES

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

- Positive rating action on KUS, assuming the links remain strong

- Enhancement of the business profile, such as greater
diversification and scale, with FFO leverage below 3x and FFO
interest coverage above 3.7x on a sustained basis, which would be
positive for the SCP, but not for the Issuer Default Rating

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

- Negative rating action on KUS or weaker links with KUS

- A weaker financial profile leading to FFO leverage persistently
higher than 4x and FFO interest coverage below 3x, which would be
negative for the SCP, but may not lead to negative rating action on
the Issuer Default Rating, if a significant share of debt continues
to benefit from KUS's guarantees

LIQUIDITY AND DEBT STRUCTURE

Tight Liquidity: At end-June 2023 MRENC had cash and cash
equivalents of KZT0.7 billion together with Fitch-expected positive
FCF one year ahead of around KZT1 billion against short-term debt
related to EBRD loans amortisation of about KZT2.4 billion. KUS is
committed to support MRENC in case of need. In 2022 and 1H23 MRENC
managed to repay debt from own sources without raising new
funding.

MRENC's debt at end-June 2023 was mostly comprised of loans from
the EBRD of around KZT11.4 billion maturing in 2027 and tenge bonds
of around KZT2.4 billion maturing in 2024. Around 10% of debt is in
US dollars, with the rest raised in tenge.

ISSUER PROFILE

MRENC has a near-monopoly position in electricity transmission and
distribution in the Region of Mangistau, one of Kazakhstan's
strategic oil-and gas-producing regions.

SUMMARY OF FINANCIAL ADJUSTMENTS

Preference shares are treated as debt.

PUBLIC RATINGS WITH CREDIT LINKAGE TO OTHER RATINGS

MRENC's rating is equalised with that of KUS.

ESG CONSIDERATIONS

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt            Rating            Recovery   Prior
   -----------            ------            --------   -----
Mangistau
Regional
Electricity
Network
Company JSC      LT IDR     BB-       Upgrade            B+

                 ST IDR     B         Affirmed           B

                 LC LT IDR  BB-       Upgrade            B+

                 Natl LT    BBB+(kaz) Upgrade            BBB(kaz)

   senior
   unsecured     LT         BB-       Upgrade     RR4    B+




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

FLAMINGO GROUP: EUR280MM Bank Debt Trades at 28% Discount
---------------------------------------------------------
Participations in a syndicated loan under which Flamingo Group
International Ltd is a borrower were trading in the secondary
market around 72.3 cents-on-the-dollar during the week ended
Friday, October 13, 2023, according to Bloomberg's Evaluated
Pricing service data.

The EUR280 million facility is a Term loan that is scheduled to
mature on February 7, 2025.  The amount is fully drawn and
outstanding.

Flamingo Group International Limited is a business combination
created in February 2018 between Flamingo Horticulture Ltd
(Flamingo UK), a supplier of cut flowers and premium vegetables to
the UK premium and value retailers, and Afriflora, a supplier of
sweetheart roses to major European retailers such as Lidl, Aldi and
Edeka. The company runs farming operations primarily in Kenya and
Ethiopia. In 2021 the combined entity generated revenues of GBP699
million and reported EBITDA of GBP72 million. Flamingo is owned by
private equity funds managed and advised by Sun Capital Partners,
Inc. and its affiliates. The Company's country of domicile is the
Netherlands.





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

LIBERTY GALAȚI: Faces Insolvency Claims from Suppliers
-------------------------------------------------------
Robert Smith and Sylvia Pfeifer at The Financial Times report that
Sanjeev Gupta's Romanian steelworks has been hit with insolvency
claims from a number of suppliers, in the latest sign of payment
problems in the businessman's industrial empire.

Liberty Galați, part of Gupta's GFG Alliance group of companies,
faces more than a dozen claims from local suppliers for unpaid
invoices, according to filings at the local court of appeal
reviewed by the FT.

The claims add to the headwinds facing Mr. Gupta who has been
battling to hold together his business since the collapse of its
main lender, Greensill Capital in 2021, the FT notes.  GFG has this
year faced winding up petitions in the UK courts from creditors,
including a landlord claiming one of its businesses "never paid a
penny" on the lease for its corporate headquarters, the FT states.

GFG is the subject of an ongoing probe by the UK's Serious Fraud
Office focusing on the financing arrangements between its
businesses and Greensill, the FT states.  GFG has consistently
denied any wrongdoing.

Adrian Popa, a manager at Uni Steel, which supplies raw materials
to Liberty Galați, told the FT that his company had filed an
insolvency claim over an alleged EUR1 million unpaid debt "because
we didn't see any other solution".

On Oct. 12, however, Mr. Popa, as cited by the FT, said that his
company had subsequently had a video call with Liberty Galați's
management to try to reach a settlement, but hadn't reached "any
final decision".

Europan Prod, another supplier that filed an insolvency claim
against Liberty Galați last month, told the FT that the debt had
since been settled.

Galați and another Liberty steelworks in Ostrava in the Czech
Republic are two of the main assets underpinning a more than EUR2
billion loan from Germany's Greensill Bank, which collapsed in
March 2021 in large part due to its substantial exposure to GFG
Alliance, the FT discloses.

Operations at Gupta's European steel business, and the wider
industry, have been hit hard by the economic downturn and high
energy costs in the wake of Russia's invasion of Ukraine, the FT
relays.  Liberty has cut production and idled some of its smaller
plants in the UK, the FT recounts.  




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

AQUILES SPAIN: Moody's Lowers CFR to B3, Alters Outlook to Stable
-----------------------------------------------------------------
Moody's Investors Service downgraded Aquiles Spain Bidco, S.A.'s
(Altadia or the company) corporate family rating and probability of
default rating to B3 and B3-PD from B2 and B2-PD, respectively.
Concurrently, Moody's downgraded Altadia's existing ratings for the
EUR1.2 billion senior secured term loan B (TLB) and the EUR175
million senior secured revolving credit facility (RCF) to B3 from
B2. Moody's also changed the outlook to stable from negative.

RATINGS RATIONALE

The rating action reflects Moody's expectation that the company is
unable to improve its credit metrics to levels commensurate for a
higher rating over the next 12-18 months and Altadia's highly
leveraged capital structure, with Moody's-adjusted gross leverage
of above 8x for the last twelve months ended June 2023.

Demand for Altadia's products is linked to the production volumes
of ceramic tiles, which, in turn, is driven by overall construction
activity. Moody's expects European construction activities to
remain weak in 2023 and 2024, namely in the residential market, due
to higher-for-longer interest rates and high construction costs.
The increase in interest and raw material costs had also a negative
impact on the discretionary renovation market. These represent
fundamental changes compared to the time of the initial rating in
early February 2022 before the Russia-Ukraine conflict started.

Volumes for the last twelve months ended June 2023 are 16% below
the levels observed in 2021, and Moody's do not foresee a recovery
to the levels of 2021 before 2025. The company's global presence
served as a partial mitigating factor against the substantial
adverse impacts experienced in Europe relative to other parts of
the world. Altadia's management adjusted EBITDA for the first half
of 2023 declined to EUR96 million from EUR99 million during the
year-earlier period, mainly because of lower volumes which were
partly offset by lower raw material prices and realized synergies.
While Altadia's performance in the first half of 2023 appeared less
severe compared to some other single B rated chemical companies,
Moody's expects the company to generate materially lower EBITDA in
2023 and 2024 compared to the time when the initial rating was
assigned resulting in a higher-for-longer leverage ratio.

The company's EBITDA interest coverage is also relatively weak at
1.6x for the last twelve months ended June 2023 and Moody's
forecasts Altadia's interest coverage to remain below 2x in 2024
before improving more materially in 2025 with higher forecasted
EBITDA. Nonetheless, the company benefits from an interest rate cap
(at a 1% floor) with an underlying principal of EUR700 million
which matures in 2026. Besides the short-term debt and some other
debt items, Altadia's main debt maturity occurs in 2029 when the
EUR1.2 billion senior secured term loans mature.

OUTLOOK

The stable outlook on Altadia's B3 rating reflects its adequate
liquidity profile and Moody's expectation that the company is able
to bring its credit metrics back to levels commensurate for the B3
rating over the next 12-18 months.

LIQUIDITY

Altadia has adequate liquidity. As of the end of June 2023, the
company had around EUR71 million of cash on balance and access to
an undrawn EUR175 million RCF. In combination with forecast funds
from operations, these sources are sufficient to cover capital
spending, short-term debt and day-to-day cash needs. Altadia also
has access to other credit lines to manage working capital swings,
which it used to fund higher working capital. Most of these lines
are committed for a short-term horizon.

STRUCTURAL CONSIDERATIONS

Moody's rates the senior secured facilities B3, in line with the
company's CFR. The senior secured facilities benefit from
guarantors representing at least 80% of EBITDA in certain
jurisdictions (Spain, Italy and Brazil), and the security package
includes share pledges as well as pledges over bank accounts and
intercompany receivables. The RCF and term loan share the same
guarantor coverage and collateral, and rank pari passu.

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

Moody's could downgrade Altadia's rating if its liquidity profile
deteriorates or the company generates negative free cash flow on a
sustained basis. A downgrade would also be likely if Moody's
adjusted leverage would remain above 7x or Moody's adjusted EBITDA
interest coverage declines below 1.5x.

Moody's could consider upgrading Altadia's rating if Moody's
adjusted leverage would decline below 6.0x and its EBITDA interest
coverage increases above 2.0x. An upgrade furthermore would require
the maintenance of an adequate liquidity profile while generating
positive free cash flow.

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Chemicals
published in June 2022.

COMPANY DESCRIPTION

Headquartered in Villarreal, Spain, Aquiles Spain Bidco, S.A.
(Altadia or the company) is a global manufacturer of intermediate
products for the ceramic tile industry. The group's offering
comprises a full range of products related to the key properties of
floor and wall tiles, including surface colours, glazing products
and body colouring materials. The company generated management
adjusted EBITDA of EUR181 million for the 12 months that ended June
2023. Altadia is majority owned by the private equity firm, the
Carlyle Group.




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

ALBION FINANCING 3: Moody's Rates New EUR300M Term Loan Add-on 'B1'
-------------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to the proposed
EUR300 million add-on to senior secured term loan due August 2026,
issued by Albion Financing 3 S.a.r.l., a subsidiary of Albion
HoldCo Limited (Aggreko).  Other ratings of Aggreko and its
subsidiaries are not affected. These include Aggreko's corporate
family rating at B1 and probability of default rating (at B1-PD, as
well as the B1 rating of senior secured revolving credit facility
(RCF) due February 2026 issued by Albion Midco Limited, B1 ratings
of backed senior secured notes issued by Albion Financing 1
S.a.r.l. due October 2026 and senior secured term loan B issued by
Albion Financing 3 S.a.r.l. due August 2026, and B3 rating of
backed senior unsecured notes issued by Albion Financing 2 S.a.r.l.
due April 2027. The rating outlook is stable for all entities.

The proceeds from the proposed add-on will be used in the first
instance to reduce current drawings under Aggreko's RCF; longer
term, these funds are slated to finance growth opportunities
identified by Aggreko's management team, including a pipeline of
acquisitions.

RATINGS RATIONALE

The rating action reflects limited impact of the proposed add-on on
Aggreko's credit metrics and Moody's expectation that the proceeds
from the add-on will be invested into growing the business. This
rating action also takes into account Aggreko's recent results and
track record of top-line growth and margin expansion underpinned by
its leading position in mobile modular power, temperature control
and energy services markets.

Aggreko continued to grow its revenues, with 10% organic growth
recorded in the first half of 2023 (excluding the impact of
Resolute and Crestchic acquisitions completed in 2023 and impact of
Beijing Olympics in 2022). Growth was achieved across most
geographies, thereby mitigating mid-single digit declines recorded
in Middle East in Africa. Revenue decline in these regions is
attributable to lower revenues from a large-scale project in
Kurdistan and exits from 20 countries following management's
materiality and risk profile review. Moody's understands that
contracts in the countries from which Aggreko withdrew were less
profitable and posed cash collection issues.  Consequently,
Aggreko's business profile has now improved due to an increased
share of revenues generated from more mature clients in North
America and Europe. This shift enhances quality of earnings and
cash flow visibility.

Company-adjusted EBITDA has grown by 27% on organic basis in the
same period, benefiting from a high degree of operating leverage
and continued cost discipline. Moody's-adjusted leverage was 4.8x
at the end of June 2023, pro-forma for the proposed debt add-on and
full year impact from Resolute and Crestchic acquisitions.

Moody's anticipates gross leverage to decrease gradually towards
4.0x in the next 12-18 months. This projection is based on the
expectation of high-single digit top-line growth, underpinned by
commercialization of growth capex and price increases, resulting in
EBITDA margin expansion. Interest coverage, measured as
EBITDA/Interest expense, is forecast to improve to above 3.0x from
2.5x as of June 2023. Increased EBITDA coupled with anticipated
margin reduction as a result of expected TLB repricing is expected
to offset growing debt quantum. Moody's-adjusted free cash flow is
anticipated to remain negative, as higher EBITDA will be used for
cash interest costs and growth capex. While current negative free
cash flow generation is mitigated by existing cash on balance sheet
and available liquidity sources, Moody's notes that sustained
increase in free cash flow deficit could put a strain on the
company's liquidity and capital structure and pressure existing
ratings.

LIQUIDITY

Aggreko's liquidity remains adequate, with $147 million of cash and
around $300 million equivalent available under its GBP300 million
RCF (equivalent to $378 million), issued by Albion Midco Limited,
at June 30, 2023. The company has no debt maturities until 2026.

STRUCTURAL CONSIDERATIONS

Aggreko's senior secured debt, issued through subsidiaries, is
rated B1 in line with the CFR, as is the proposed EUR300 million
senior secured add-on. The company's debt includes GBP300 million
RCF issued by Albion Midco Limited, $1,050 million and EUR835
million TLB issued by Albion Financing 3 S.a.r.l. and $565 million
and EUR450 million backed senior secured notes issued by Albion
Financing 1 S.a.r.l.  The RCF, the TLB (including the add-on) and
the secured notes share the same security package, and rank pari
passu. The company's $450 million backed senior unsecured notes
issued by Albion Financing 2 S.a.r.l. are rated B3, reflecting
their junior position in the capital structure.  The term loan is
covenant lite, and the revolver has a springing financial covenant
tested if it is 40% drawn.

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

Positive rating momentum would result from Aggreko's leverage
measured as debt/EBITDA reducing below 3.5x including Moody's
standard adjustments, as well as EBITDA/Interest expense increasing
above 4.5x. Adequate liquidity would also be needed for an
upgrade.

Downward rating pressure could arise if Aggreko's debt/EBITDA
increases above 5.0x or EBITDA/Interest expense remains below 3.0x
for a sustained period of time. Any liquidity challenges could also
lead to a rating downgrade.

PRINCIPAL METHODOLOGY

The principal methodology used in this rating was Equipment and
Transportation Rental published in February 2022.

COMPANY PROFILE

Headquartered in Glasgow, Albion HoldCo Limited (Aggreko) is a
leading global provider of modular power generation and temperature
control equipment, offering critical equipment rental and energy
services to a diverse mix of end-markets, clients and countries.
The company operates over 150 sales and services centres, serving
customers in around 67 countries. In the last twelve months ending
June 2023, Aggreko generated revenue of $2.3 billion and adjusted
EBITDA of $817 million.


AMPHORA FINANCE: GBP301MM Bank Debt Trades at 70% Discount
----------------------------------------------------------
Participations in a syndicated loan under which Amphora Finance Ltd
is a borrower were trading in the secondary market around 30.4
cents-on-the-dollar during the week ended Friday, October 13, 2023,
according to Bloomberg's Evaluated Pricing service data.

The GBP301 million facility is a Term loan that is scheduled to
mature on June 1, 2025.  The amount is fully drawn and
outstanding.

Amphora Finance Limited operates as a special purpose entity. The
Company was formed for the purpose of issuing debt securities to
repay existing credit facilities, refinance indebtedness, and for
acquisition purposes. The Company's country of domicile is the
United Kingdom.


CARILLION PLC: KPMG Faces Record GBP21MM Fine Over Audits
---------------------------------------------------------
Michael O'Dwyer at The Financial Times reports that KPMG has been
fined a record GBP21 million by UK regulators for "textbook"
failures in its auditing of Carillion, the government contractor
whose collapse in 2018 sparked political controversy and calls for
an overhaul of the accounting profession.

According to the FT, the Financial Reporting Council said on Oct.
12 that it had found an "unusually large number of breaches" of
audit standards, which meant that Carillion "was not subject to
rigorous, comprehensive, and reliable audits in the three years
leading up to its demise".

The fine, which is the largest imposed on an audit firm by the FRC,
was reduced from GBP30 million to reflect KPMG's co-operation with
the five-and-a-half year investigation, the FT notes.  The Big Four
firm was ordered to pay GBP5.3 million in costs, the FT discloses.


KPMG's UK chief executive Jon Holt said the findings were "damning"
and that he "simply cannot defend the work that we did on
Carillion", the FT relays.

Carillion, an outsourcing and construction group operating in the
UK and Middle East, announced more than GBP1 billion of writedowns
in 2017, months after KPMG gave an unqualified audit opinion on its
accounts, the FT recounts.

It had liabilities of GBP7 billion and just GBP29 million in cash
when it went into liquidation, fuelling calls for a shake-up of UK
audit and corporate governance regulation and prompting an MP to
say he would not hire KPMG to audit "the contents of my fridge",
the FT discloses.

Its collapse endangered thousands of jobs and jeopardised the
provision of school meals and the cleaning of hospitals, the FT
relays.

The FRC found "significant and serious breaches" in KPMG's work
from 2014 to 2017 and said there were also failings in the 2013
audit, according to the FT.

It found that in 2016 the firm's work to assess Carillion as a
going concern was "seriously deficient" and that this was
compounded by breaches of ethical standards relating to
"objectivity, independence, and integrity".

KPMG "failed to respond to numerous indicators that Carillion's
core operations were lossmaking and that it was reliant on short
term and unsustainable measures to support its cash flows", the FT
quotes the FRC as saying on Oct. 12.

The regulator, as cited by the FT, said the firm had failed to
gather enough evidence to conclude that the accounts were true and
fair.

Peter Meehan, the former KPMG partner who led the audit from 2014
onwards was fined GBP350,000 and banned from the profession for 10
years, to run concurrently with an earlier exclusion from the
industry, the FT discloses.  Darren Turner, who led the audit in
2013, was handed a GBP70,000 penalty, the FT states.  Their fines
were reduced from GBP500,000 and GBP100,000 respectively, the FT
notes.


DAILY MAIL: Fitch Affirms 'BB+' LongTerm IDR, Outlook Negative
--------------------------------------------------------------
Fitch ratings has affirmed Daily Mail and General Trust plc's
(DMGT) Long-Term Issuer Default Rating (IDR) at 'BB+'. The Outlook
remains Negative. Fitch has affirmed the senior unsecured
instrument rating at 'BB+' with a Recovery Rating of RR4.

DMGT has a portfolio of businesses that have variable growth
prospects and profitability. The company has a strong market
position within traditional print and online media, property
information and a small but successful events business which
supports the rating. However, DMGT's profitability is weak for the
rating level.

Fitch has maintained a Negative Outlook as Fitch believes
deleveraging will be delayed beyond FY24 (financial year ending
September), as a result of a stronger decline in Fitch-defined free
cash flow (FCF) and pre-dividend FCF than Fitch had expected. Fitch
forecasts DMGT's Fitch-defined EBITDA net leverage to rise to 2.2x
in FY23 from 2.0x in FY22, due to the worse economic climate,
before declining to 1.9x in FY24, leaving limited rating headroom.

Fitch usually gives companies 18 -24 months after a corporate event
to restore leverage to within its rating sensitivities
through-the-cycle. Therefore, an improvement in profitability and
FCF, which offers clear visibility of leverage trending below its
downgrade threshold will be critical for the future ratings
trajectory.

KEY RATING DRIVERS

Leverage Remains Elevated: Fitch forecasts FY23 Fitch-defined
EBITDA margin to decline to 6.5% in FY23 and a negative
Fitch-defined FCF margin. This is due to revenue declines in
Consumer Media and property data provider, Landmark, as well as
higher newsprint, distribution and general operational costs that
are only partially offset by cover-price increases and a recovery
in the events division (known as dmg events). The volume-driven
nature of a large portion of DMGT's revenues coupled with a high
proportion of fixed costs exacerbates margin volatility.

Fitch projects Fitch-defined EBITDA net leverage to be 2.2x for
FY23 before declining to 1.9x in FY24 driven by EBITDA margin
growth (FY24: c.7.5%) and FCF margin turning positive, supported by
modestly improved trading conditions and early benefits accruing
from cost reduction efforts and operational investments.

Difficult Advertising Market: Advertising activity has declined
during 2023 in light of weak consumer demand driven by the
constrained discretionary incomes. Third-party research indicates
advertising in national news brands will decline by mid-single
digits during 2023. Fitch believes digital advertising has been
affected the most given the flexibility of reducing advertising
output at short notice. 2024 is likely to see a gradual recovery
although profitability is likely to be affected from Google's
cookie deprecation activities.

Fitch understands DMGT is investing in its digital platform to
improve user experience and data analytics capabilities to mitigate
the adverse impacts of industry-wide changes.

Weak UK Property Market: Transaction volumes at Landmark have
consistently remained depressed over the year due tighter credit
conditions affecting mortgage availability. High inflation and
steadily rising interest rates have introduced property market
uncertainty in light of diminished affordability. Fitch believes
high operational gearing has affected Landmark's operating margin
in FY23 with lower revenue per transaction and expect volumes to
remain sluggish over the next 18 months. The acquisition of online
estate agent, Yopa, and organic investments in the Landmark
platform may provide additional sources of revenue longer-term
across the transaction lifecycle.

Fitch forecasts UK base rates to peak at 5.75% at end-2023 before
falling to 4.5% end-2024. A fall in inflation and better interest
rate visibility should improve market confidence and mortgage
pricing.

Events Recovery: Fitch expects dmg events to outperform
pre-pandemic levels with demand for its big five energy and
construction events at robust levels, showing the resilience of
well-established global events. Fitch believes further revenue
uplift will be driven by new events held in emerging markets such
as India, Saudi Arabia and Africa, in addition to filling spare
capacity at existing events. Significant forward bookings provide
good revenue visibility. However, margin recovery to pre-pandemic
levels will be delayed due to continued cost pressures including
continued rehiring and reskilling requirements.

Reduced Revenue and Cashflow: Reported subscription revenue fell to
10% in FY22 from 30% in FY20. Fitch believes less than 50% of
revenues are recurring with the remaining volume driven. Digital
advertising revenue is slightly higher than print and Fitch
understands there are some minimum revenue guarantees for digital
with the large tech companies. DMGT has also introduced a small
subscription-based model in print. These efforts, along with steady
growth in the largely subscription-based, US data provider, Trepp,
aim to introduce some predictability to an otherwise less insulated
operating model.

Decline of Print: Print media consumption is in structural decline
and the long-term sustainability of the sector relies on the
successful shift to a subscription-based model including online
platforms for content delivery. The growth of competing news
sources and changing readership habits is reflected by the
significant decline in average monthly circulation of established
newspapers such as the Daily Mail and The Sun (by about 67% each)
and The Mirror (down 88%) since 2000.

Established Brand, Execution Risk Online: Fitch believes DMGT will
benefit from the growth of online media and advertising given its
established brand and wide reach. Fitch estimates DMGT has around a
10% share of UK digital media market in addition to its strong
market position within UK print media. However, Fitch believes
growing scale online model poses a challenge for print businesses
as online news consumption takes time to compensate for print
losses and is likely to be spread across different demographics and
a broader set of media platforms and competitors.

Diversification Benefits Constrained: Fitch estimates around 60% of
revenue is from Consumer Media, although a better measure, cash
operating income (cash OI) - a proxy for company-defined EBITDA
less capex - is split equally across media and non-media (property
information and events) services. However, with over 60% of revenue
from the UK, Fitch believes it has high exposure to declining, more
competitive or cyclically sensitive sectors highly correlated to UK
economic conditions.

DERIVATION SUMMARY

DMGT's credit profile is supported by the group's B2B and consumer
media portfolio and measured financial policy providing the
flexibility to manage operational risks. However, the medium- to
long-term visibility of cash flow is affected by uncertainties in
the evolution of print circulation and advertising, the likely need
for continued investment in new products and digital platforms. The
company's active management of its asset portfolio leads to more
limited visibility of the scale and scope of the business. As a
result, the thresholds for DMGT have been set tighter at the rating
level relative to peers.

Higher-rated larger peers with greater leverage flexibility such as
RELX PLC (BBB+/Stable), Informa PLC (BBB-/Stable), Adevinta ASA
(BB+/Stable) and Thomson Reuters Corporation (BBB+/Stable) benefit
from a combination of factors such as increased scale, stronger
operating mix driven by a higher proportion of subscription-based
revenue and higher Fitch-defined EBITDA margins, little/lower
exposure to print, and bigger discretionary cash flows which
support higher leverage or ratings.

Other peers such as Springer Nature AG & Co. KGaA (BB-/Stable) have
higher leverage which constrains their credit profiles.

KEY ASSUMPTIONS

- Revenue to grow by CAGR of 2.4% in FY23-FY26 reflecting near term
pressures in the consumer business and challenging macroeconomic
outlook offset by improved growth prospects in the events and
property information businesses and economic recovery in later
years;

- Fitch-defined EBITDA margin of 6.5% in FY23, rising to above 9%
by FY26. Fitch-defined EBITDA includes a portion of cash
exceptional costs considered operational and/or recurring;

- Slightly negative change in working capital averaging at around
-0.5% of revenue per year between FY23 and FY26;

- Capex intensity of around 1.8% in FY23, declining to 1.5%
FY24-FY26;

- Dividends around GBP20 million per year growing steadily to GBP26
million by FY26;

- No significant M&A forecast in FY23-FY26.

RATING SENSITIVITIES

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

Fitch does not expect positive rating action in the near-term due
to the company's limited scale and diversification. However, an
upgrade could occur upon the following:

- Fitch defined EBITDA net leverage sustained below 1.2x;

- Pre-dividend FCF margin above 5% on a sustained basis;

- Tangible improvement in the overall scale and/or diversification
of the business, along with a strengthening and visibility of
operating margins demonstrated by Fitch-defined EBITDA margin above
12.5%.

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

- Fitch defined EBITDA net leverage sustained below 1.7x

- Evidence of enhanced revenue visibility or benefits from
diversification driving Fitch-defined EBITDA margin above 8% and
pre-dividend FCF above 3% by FY24.

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

- Fitch defined EBITDA net leverage consistently above 1.7x;

- Pre-dividend FCF margin below 3% on a sustained basis;

- Weakening consumer division operating profit trends, given the
importance of the consumer transition to online in the context of a
declining print news industry.

LIQUIDITY AND DEBT STRUCTURE

Sufficient Liquidity: Fitch forecasts negative Fitch-defined FCF in
FY23 but expects the company to generate stable low single digit
FCF margins from FY24 to FY26. Along with cash on balance sheet and
an undrawn revolving credit facility (RCF). Fitch believes DMGT has
sufficient liquidity to support operations and cover short-term
liabilities. The company's RCF and GBP150 million bond mature in
FY27.

ISSUER PROFILE

DMGT is a diversified company with a portfolio of assets in the B2B
and B2C spaces. B2B investments include property information and an
events business. DMG Media is the B2C print and online media
business with most of the revenues earned by the Daily Mail, Mail
on Sunday and MailOnline news outlets.

ESG CONSIDERATIONS

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt             Rating         Recovery    Prior
   -----------             ------         --------    -----
Daily Mail and
General Trust plc    LT IDR  BB+   Affirmed            BB+

   senior
   unsecured         LT      BB+   Affirmed   RR4      BB+


HODGSON ACOUSTICS: Bought Out of Administration by Wiltech
----------------------------------------------------------
Business Sale reports that Hodgson Acoustics Company Ltd , a
Leicestershire-based noise control business dating back to the
1890s, has been acquired out of administration.

According to Business Sale, Hodgson Acoustics has been acquired by
Wiltech Acoustics Ltd, an associated company of WB Power Services
Ltd, which provides critical power, maintenance and hire services
for organisations including data centres and hospitals.

In its most recent accounts at Companies House, for the year ending
December 31, 2021, Hodgson Acoustics Company reported turnover of
GBP7.1 million, up from slightly over GBP4 million a year earlier,
Business Sale discloses.  However, the company fell from a pre-tax
profit of GBP370,856 to a loss of GBP127,133, Business Sale states.
At the time, its net liabilities amounted to GBP50,689, Business
Sale notes.

The company, which employs 80 staff, fell into administration last
month as a result of capacity and efficiency issues, which caused
delays to ongoing orders, subsequently leading to the business
experiencing cashflow problems, Business Sale recounts.

RSM UK Restructuring Advisory LLP's Glen Carter and Phillip Sykes
were appointed as joint administrators of the business on September
20, 2023, and have now secured a sale of the business and certain
assets to Wiltech Acoustics Ltd, including the transfer of all 80
staff, Business Sale relates.


JERSEY REDS: Creditors' Meeting Scheduled for October 25
--------------------------------------------------------
BBC News reports that people and firms owed money by the Jersey
Reds have been invited to a creditors meeting.

The rugby club collapsed after being unable to fulfil September's
payroll, BBC relates.

According to BBC, Reds will enter liquidation after States members
voted against providing further financial support for the remainder
of the season.

Creditors have been invited to a meeting at St Pauls Centre on Oct.
25 at 10:30 BST, BBC discloses.

Reds, as cited by BBC, said those in attendance would be asked to
accept Grant Thornton as liquidators.

It said only those with a valid claim from the company would be
admitted, BBC notes.

It is not clear what assets the club still has -- the stadium,
clubhouse and pitches are all owned by the amateur club Jersey RFC,
according to BBC.


PINNACLE BIDCO: Fitch Rates GBP475MM & EUR380MM Sr. Notes 'B-'
--------------------------------------------------------------
Fitch Ratings has assigned Pinnacle Bidco plc's (Pure Gym) new
GBP475 million and EUR380 million senior secured notes final
instrument rating of 'B-' with a Recovery Rating of 'RR4'. Fitch
has also affirmed its Long-Term Issuer Default Rating (IDR) at 'B-'
with a Stable Outlook.

The senior secured instrument rating is predicated on full
repayment of its existing GBP855 million equivalent senior secured
notes from the proceeds of the new notes and cash. Its rating also
captures upsize and refinancing of Pure Gym's revolving credit
facility (RCF) as part of the refinancing exercise.

The 'B-' IDR reflects the group's high leverage, weak fixed charge
cover ratios, and negative post-capex free cash flow (FCF), which
are balanced by its leading market positions in the UK and Denmark
in the value gym segment. Fitch see limited rating headroom in the
near term.

The refinancing of the senior secured notes with a slightly lower
notes amount is marginally positive for the credit profile, but it
also reduces its cash buffers to fund future growth capex. The
Stable Outlook reflects its expectations of continued profit
expansion that should enable deleveraging and satisfactory
liquidity, assuming capex flexibility. Materially reduced liquidity
headroom would put pressure on the rating.

KEY RATING DRIVERS

Resolved Refinancing Risk: The new notes issue addresses Pure Gym's
high refinancing risk. Refinancing the existing notes at GBP50
million less is marginally credit-positive, while an enlarged super
senior RCF by around GBP30 million supports liquidity, leaving
similar recoveries within the 'RR4' band. Fitch anticipates weak
coverage metrics, albeit still in line with the rating, due to
higher interest rates than previously, and a weaker funds from
operations (FFO) margin.

EBITDA Growth: Fitch forecasts EBITDA to improve by GBP24 million
to GBP95 million in 2023, following a strong 1H23 performance with
just above 10% growth in members yoy. Fitch-calculated EBITDA is
after rents and does not factor certain items that the company
adjusts for. Fitch expects EBITDA growth to nearly GBP150 million
by 2026, aided by the addition of around new 215 sites.

High leverage: Fitch expects a gradual reduction in leverage from
EBITDA growth. Fitch forecasts EBITDAR gross leverage marginally
below 8.5x in 2023, which will exceed its negative sensitivity,
before it falls to within its rating guidelines in 2024. Fitch
believes the underlying business is cash-generative and has the
potential to deleverage below 7.5x by 2026 as profits grow due to
ramp up of existing sites and new sites start contributing to
profits.

Tight Underlying FCF Profile: Pure Gym's strategy entails
continuous expansion, leading to high sustained capital intensity
and negative FCF. While it can adjust the expansion capex to reduce
the cash outflows Fitch estimates that Pure Gym's underlying FCF
would be broadly neutral if the business was run solely for cash
generation instead of reinvesting cash in growth. The underlying
credit quality of the new capital structure places Pure Gym
adequately at the 'B-' rating and hinges on the presence of an
appropriate liquidity reserve with a sizeable RCF.

Membership Growth: Fitch models growth in memberships to follow a
normal cycle with key net addition periods in January and
September, rather than expecting post-pandemic recovery for a
like-for-like (LFL) portfolio by a certain date. Fitch expects
average members per gym in the UK to slightly increase in 2024,
then decline due to new gym additions and changes in the site mix,
and do not expect it to reach pre-pandemic levels. Pure Gym
reported LFL membership count for UK sites (opened before 2018)
remained 13% below pre-pandemic level in 1Q23, with revenue now
recovered amid improved average revenue per member (ARPM). This is
slightly ahead of its closest peer, The Gym Group.

Execution Risk in Expansion: Its rating case sees some execution
risk associated with around new 190 gym openings assumed for
2023-2026 in the UK. Fitch sees a risk of over-expansion in the
sector, especially if other gym operators follow suit, even if
demand trends appear favourable for expansion. This is somewhat
mitigated by weakened competition post-pandemic and Pure Gym's
record of opening and ramping up new sites. Fitch incorporates
average capex per site of around GBP1.2 million.

Low-Cost Business Model: The low-cost business model with caps and
collars on rents and forward contract on energy partially protect
the group from cost inflation eroding profitability. Fitch
anticipates the EBITDAR margin will recover to 40% by 2025. Fitch
expects Pure Gym's value business model to perform better in a
recessionary environment than traditional peers. This is because
its monthly fees are materially lower than traditional private
operators and Pure Gym has no membership contracts with notice
periods.

Fitch believes this provides Pure Gym with a competitive advantage
as consumers seek lower-cost propositions. The business model is
strengthened by Pure Gym's variable pricing model, which allows
flexibility for margin preservation while competing with local
peers.

Growing Value-Gym Market: The IDR reflects Pure Gym's leading
position in the value-gym market, which Fitch expects to continue
to grow. Fitch believes the group is well-positioned to benefit
from a renewed focus on health & wellbeing trends post-pandemic.

DERIVATION SUMMARY

Pure Gym generally operates on higher EBITDAR margins than the
median for Fitch-rated gym operators, including those within its
food, non-food retail and leisure credit-opinion portfolio, due to
its scale and a value/low-cost business model. However, due to its
accelerated expansion programme and slower member growth, Fitch
does not expect Pure Gym's profitability to exceed the industry
average over its forecast period. Pure Gym has been taking market
share mainly from its mid-market peers, due to the competitive
nature of its pricing structure.

Fitch views Pure Gym's forecast EBITDAR leverage at 7.8x by
end-2024 as high, but in line with that of similar leisure credits
in the low 'B' rating category. Negative FCF amid an expansion
strategy restricts the IDR. However, Pure Gym's cash flow
conversion and deleveraging capability is structurally better than
high-street retailers', and is now further enhanced by
equity-funded capex.

Pure Gym is rated one notch below its closest Fitch-rated peer,
Deuce Midco Limited (David Lloyd Leisure, DLL; B/Stable), the
premium lifestyle club operator. Pure Gym has a more aggressive
expansion strategy, which carries higher execution risk than for
DLL, resulting in expected weaker FCF generation and higher
leverage. Following the accelerated expansion to be funded by
equity injection, Fitch expects Pure Gym's leverage to trend below
7.5x by 2026, three years later than DLL.

Pure Gym has mildly higher profitability than DLL with EBITDAR
margin trending towards 41% due to its low-cost business model,
versus around 37% at DLL.

KEY ASSUMPTIONS

Fitch's Key Assumptions within its Rating Case for the Issuer:

- Average memberships for 2023 at around 1.8 million (11% higher
than average 2022 levels) and gradually increasing to 2.3 million
by 2026, benefitting from new gym openings and the ramp-up of new
gyms.

- Around 40 corporate-owned new gym openings in 2023, followed by
around 175 new gyms in 2024-2026 (50 in 2024, 55 in 2025, and 70 in
2026) and 27 gym closures between 2023 and 2026 in Denmark.

- Average members per gym post-2023 gradually declining to reflect
the ramp-up of new gym openings and smaller format boxes with lower
capacities.

- ARPM gradually increasing to GBP24.6 by 2026 from GBP23.7 in
2022.

- Sales CAGR of 9% in 2023-2026, supported by increasing ARPM, new
site openings and the ramp-up of new sites.

- EBITDAR margin recovering to around 38.6% by 2023, and gradually
nearing 41% by 2026, supported by increase in scale, maturation of
newly-opened gyms, margin improvement efforts in Denmark and
contribution from franchise sites.

- Fitch-derived EBITDA includes a GBP9 million negative impact from
of its lease treatment against cash lease cost (lease costs
calculated as the sum of right-of-use asset depreciation and P&L
interest cost; the difference for the forecast period of 2023-2026
is expected to narrow).

- Average capex at around GBP115 million per year between 2023 and
2026 to fund new site openings and refurbishment projects.

- No dividends and no acquisitions to 2026.

Fitch's Key Recovery Rating Assumptions:

The recovery analysis assumes that Pure Gym would be reorganised as
a going-concern (GC) in bankruptcy rather than liquidated. Fitch
has assumed a 10% administrative claim.

The GC EBITDA estimate reflects Fitch's view of a sustainable,
post-reorganisation EBITDA level upon which Fitch bases the
valuation of the group.

Pure Gym's GC EBITDA of GBP110 million is based on Fitch-projected
EBITDA in 2024, reflecting the ramp up of existing sites as well as
contribution from new site openings by 2024. This reflects
competitive dynamics, which are partly offset by a broadly
resilient format given its lower price point but lack of
contracts.

The current Fitch-distressed enterprise value (EV)/EBITDA multiples
for other gym operators in the 'B' rating category have been around
5x-6x. Fitch recognises that Pure Gym has a leading share in the
growing value-gym market, which justifies a 5.5x multiple, although
Pure Gym currently does not have any unique characteristics that
would allow for a higher multiple, such as a significant unique
brand, material franchise revenue or undervalued real-estate
assets.

The new increased GBP175.5 million RCF (from GBP145 million
currently), which ranks super-senior to the senior secured notes,
is assumed to be fully drawn upon default.

After deducting 10% for administrative claims, its principal
waterfall analysis generates a ranked recovery for the new senior
secured debt, in the 'RR4' category, leading to a 'B-' rating for
the bonds. The waterfall analysis output percentage is 46% for the
new GBP805 million equivalent notes.

This is marginally lower than for existing around GBP855 million
equivalent notes at 47%, to be fully repaid from the proceeds of
the new notes and cash.

RATING SENSITIVITIES

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

- Growth in membership numbers and revenue from mature sites and
maturing new sites, while continuing to control cost, leading to:

- (Fitch-defined EBITDA minus interest and operational cash
expenses)/revenue trending to 10%;

- EBITDAR fixed charge coverage above 1.5x on a sustained basis;

- Total EBITDAR leverage below 7.5x;

- Sustained improvement in liquidity headroom, including from
positive cash flow from operations after working capital and
maintenance capex.

Factors that could, individually or collectively, lead to negative
rating action/downgrade (to CCC+):

- Loss of revenue and decline in profitability due to economic
weakness, increased competition and pressure on pricing leading to
(Fitch defined EBITDA minus interest and operational cash
expenses)/revenue consistently below 10%;

- Diminishing liquidity headroom with a substantially drawn
revolving credit facility;

- Total EBITDAR leverage remaining above 8.0x on a sustained
basis;

- EBITDAR fixed charge coverage below 1.2x.

LIQUIDITY AND DEBT STRUCTURE

Adequate Liquidity: Fitch expects the end-FY23 available cash to be
around GBP58million, on top of the fully available RCF (upsized to
GBP175.5 million). Fitch views that the liquidity at Pure Gym
remains adequate following the refinancing exercise, in spite of
lower headroom due to the use of cash to pay down debt (GBP83
million). Fitch expects Pure Gym to draw the RCF to fund its
accelerated expansion strategy in 2024-2026 and this may put
pressure on liquidity then. Its forecast excludes GBP31 million of
cash that sits above restricted group but is reported as part of
net debt by the company and could provide additional flexibility if
down-streamed.

Fitch projects FCF to stay negative, driven by high capex needs
related to the number of new gym openings and gym refurbishments
and despite EBITDA expansion on new gym openings and the maturation
of newly-opened gyms.

The group has no near-term refinancing risk with maturity of senior
secured notes and RCF in 2028.

ISSUER PROFILE

Pure Gym is a leading low-cost gym operator in Europe with around
565 sites across the UK, Denmark and Switzerland (as of June
2023).

ESG CONSIDERATIONS

The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.

   Entity/Debt               Rating          Recovery   Prior
   -----------               ------          --------   -----
Pinnacle Bidco plc   LT IDR   B-   Affirmed              B-

   senior secured    LT       B-   New Rating   RR4      B-(EXP)

   super senior      LT       BB-  New Rating   RR1      BB-(EXP)


PINNACLE BIDCO: Moody's Affirms 'B3' CFR, Outlook Remains Stable
----------------------------------------------------------------
Moody's Investors Service has affirmed the B3 corporate family
rating, B3 backed senior secured rating, Ba3 senior secured bank
credit facility rating and B3-PD probability of default rating of
Pinnacle Bidco plc's (PureGym or the company), a leading budget gym
operator. The outlook remains stable.                            

RATINGS RATIONALE

The ratings affirmation follows the successful refinancing that
completed on October 11, 2023 that removed debt maturity risks and
marginally improved PureGym's Moody's-adjusted gross leverage,
measured as Moody's-adjusted gross debt/EBITDA, to an estimated
6.2x pro forma for the transaction, from 6.4x for the last twelve
months (LTM) to June 30, 2023.

Moody's expects PureGym's leverage and coverage metrics to improve
over the next 12-18 months from earnings growth, driven by
maturation of recently opened sites, continued recovery in member
base at mature clubs, strict cost control, and energy prices hedged
at favourable rates until year end 2024.

An improvement in gross leverage to around 5.3x by year end 2024 is
credit positive, although interest cover, measured as
Moody's-adjusted EBITA/interest ratio will remain weak, despite the
rating agency forecasting an improvement to 1.0x from 0.7x on a LTM
basis, pro-rata for the refinancing. In addition, cash consumption
will remain substantial, albeit to a lower extent than recently, as
PureGym continues to invest in growth capital spending and will
contend with higher interest costs. Moody's forecast free cash flow
to be negative by around GBP55 million in 2024 compared with around
minus GBP90 million in 2022.

ESG CONSIDERATIONS

PureGym's ESG credit considerations reflect (1) governance risk
exposure due to its concentrated ownership by private equity and
relatively aggressive financial policies; and (2) customer relation
risks related to managing customer data and reputation.

RATIONALE FOR THE STABLE OUTLOOK

The stable outlook reflects Moody's expectation that the company
will sustain good operating performance driving earnings growth
that will improve interest cover and reduce leverage over the next
12-18 months.

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

Moody's could upgrade the ratings if:

- robust organic revenue and EBITDA growth continues

- the company is sustainably cash-generative

- its Moody's adjusted EBITA / Interest improves towards 1.5x; and

- its Moody's adjusted Debt/EBITDA reduces sustainably below 6x.

Moody's could downgrade PureGym's ratings if:

- liquidity deteriorates;

- Moody's adjusted gross leverage is sustained above 7.5x;

- Moody's adjusted EBITA /interest is sustainably below 1x; or

- if there is any material and sustained decline in the number of
members or in membership yield.

STRUCTURAL CONSIDERATIONS

The new backed senior secured notes and the new super senior
secured revolving credit facility (SSRCF) will be secured by a
first-priority security interests which includes (1) a fixed charge
over bank accounts, shares and receivables and a floating charge
over substantially all assets of the Guarantors incorporated in
England and Wales (2) pledges over shares of other Guarantors
incorporated in Denmark and Switzerland.

Under the terms an intercreditor agreement the SSRCF ranks ahead of
the backed senior secured notes in an enforcement scenario.

LIQUIDITY

Pro forma for the transaction, PureGym's liquidity is adequate with
GBP110 million of cash on balance sheet as at 30 June 2023,
excluding GBP14 million of coupon payment on existing notes for the
third quarter which are included in the GBP34 million of
transaction costs, and a fully available GBP175.5 million SSRCF.
Moody's expects FCF cumulatively to be negative by around GBP85
million over the following six quarters, including the GBP14
million of coupon payment in the third quarter.

PureGym also has GBP30 million from Kohlberg Kravis Roberts & Co.
L.P.'s (KKR) GBP300 million equity investment still remaining at
the Pinnacle Topco Limited level, which can be pushed down to the
Pinnacle Bidco plc level.

The SSRCF has a leverage covenant that is tested if the facility is
more than 40% (GBP70.2 million) drawn.

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Business and
Consumer Services published in November 2021.

PROFILE

Founded in 2008 and headquartered in Leeds, Pinnacle Bidco plc
(PureGym or the company) is the third-largest health and fitness
club operator in Europe by number of members, positioned in the
low-cost segment. As of June 2023, the group had 1.9 million
members across 566 owned gyms in the UK, Denmark, Switzerland, and
the US, along with 16 franchised clubs in the Middle East. The
group generated GBP515 million of revenue for the LTM June 2023 for
a company-adjusted after-rent EBITDA of GBP110 million (post-IFRS
16: GBP213 million). The company is owned by private equity firm
Leonard Green & Partners (LGP) and its management. Since early
2022, KKR owns convertible preferred equity shares in PureGym.
Assuming conversion to 22% of equity on exit, LGP would have a
64%-67% stake and management 11%-14%.




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

[*] BOND PRICING: For the Week October 9 to October 13, 2023
------------------------------------------------------------
Issuer            Coupon    Maturity Currency Price
------            ------    -------- -------  -----
Republic of Austria Gov  0.850  6/30/2120  EUR 38.067
MC Brazil Downstream Tr  7.250  6/30/2031  USD 63.557
Vedanta Resources Ltd    6.125   8/9/2024  USD 64.872
Altice France Holding S  8.000  5/15/2027  EUR 47.042
Tele Columbus AG         3.875   5/2/2025  EUR 64.643
Altice Finco SA          4.750  1/15/2028  EUR 63.377
Atento Luxco 1 SA        8.000  2/10/2026  USD  0.459
Altice France Holding S 10.500  5/15/2027  USD 51.544
United Kingdom Gilt      0.625  7/31/2035  GBP 64.443
Unigel Luxembourg SA     8.750  10/1/2026  USD 38.757
EnfraGen Energia Sur SA  5.375 12/30/2030  USD 72.565
Tullow Oil PLC           7.000   3/1/2025  USD 69.751
Vedanta Resources Finan  8.950  3/11/2025  USD 66.583
Samhallsbyggnadsbolaget  2.875             EUR  9.777
Heimstaden AB            4.375   3/6/2027  EUR 52.018
Pro-Gest SpA             3.250 12/15/2024  EUR 70.518
DIC Asset AG             2.250  9/22/2026  EUR 52.863
Samhallsbyggnadsbolaget  2.250  8/12/2027  EUR 59.156
Ukraine Government Inte  7.750   8/1/2041  USD 46.653
Trinseo Materials Opera  5.125   4/1/2029  USD 54.031
Casino Guichard Perrach  4.498   3/7/2024  EUR  1.445
Samhallsbyggnadsbolaget  1.750  1/14/2025  EUR 74.086
SBB Treasury Oyj         1.125 11/26/2029  EUR 54.139
Samhallsbyggnadsbolaget  2.624             EUR 10.145
DEMIRE Deutsche Mittels  1.875 10/15/2024  EUR 62.531
Barclays PLC             4.375             USD 68.125
Samhallsbyggnadsbolaget  1.125   9/4/2026  EUR 64.399
Gol Finance SA           7.000  1/31/2025  USD 59.004
Braskem Netherlands Fin  5.875  1/31/2050  USD 74.362
Standard Chartered PLC   4.300             USD 75.955
SBB Treasury Oyj         0.750 12/14/2028  EUR 54.801
United Kingdom Inflatio  0.125  3/22/2051  GBP 74.535
Casino Guichard Perrach  3.992             EUR  0.337
Altice France SA/France  3.375  1/15/2028  EUR 69.731
ams-OSRAM AG             2.125  11/3/2027  EUR 69.889
Samhallsbyggnadsbolaget  2.625             EUR 10.247
Atos SE                  1.000 11/12/2029  EUR 59.940
Kenbourne Invest SA      4.700  1/22/2028  USD 59.895
French Republic Governm  0.750  5/25/2053  EUR 50.249
Altice France Holding S  4.000  2/15/2028  EUR 38.708
BNP Paribas SA           4.500             USD 72.391
Heimstaden AB            6.750             EUR 39.575
United Kingdom Gilt      1.125  1/31/2039  GBP 61.605
Vedanta Resources Finan  9.250  4/23/2026  USD 60.231
Canary Wharf Group Inve  3.375  4/23/2028  GBP 64.230
Thames Water Kemble Fin  4.625  5/19/2026  GBP 67.475
Casino Guichard Perrach  4.022             EUR  0.265
Mitsubishi UFJ Investor  8.326 12/15/2050  EUR 46.744
Altice France SA/France  5.125  7/15/2029  USD 69.787
Casino Guichard Perrach  4.048   8/5/2026  EUR  1.500
Altice France SA/France  4.250 10/15/2029  EUR 69.057
Liquid Telecommunicatio  5.500   9/4/2026  USD 62.855
Heimstaden AB            7.896 10/15/2025  SEK 62.011
Intrum AB                3.500  7/15/2026  EUR 74.955
Heimstaden AB            4.250   3/9/2026  EUR 51.354
Vivion Investments Sarl  3.500  11/1/2025  EUR 73.517
La Financiere Atalian S  4.000  5/15/2024  EUR 72.485
Altice France Holding S  6.000  2/15/2028  USD 41.416
Maxeda DIY Holding BV    5.875  10/1/2026  EUR 73.647
Heimstaden Bostad AB     3.248             EUR 56.070
Casino Guichard Perrach  5.250  4/15/2027  EUR  1.500
Herens Midco Sarl        5.250  5/15/2029  EUR 53.750
Global Fashion Group SA  1.250  3/15/2028  EUR 72.180
AI Candelaria Spain SA   5.750  6/15/2033  USD 72.532
Castellum AB             3.125             EUR 72.264
Citycon Oyj              4.496             EUR 65.840
Casino Guichard Perrach  6.625  1/15/2026  EUR  1.512
Ukraine Government Inte  7.750   9/1/2024  USD 33.724
Ukraine Government Inte  6.750  6/20/2028  EUR 26.690
BNP Paribas SA           4.625             USD 72.589
AT Securities BV         7.747             USD 44.500
Ukraine Government Inte  7.750   9/1/2026  USD 29.840
Metalcorp Group SA       8.500  6/28/2026  EUR  1.975
Intrum AB                3.000  9/15/2027  EUR 66.636
United Kingdom Gilt      0.875  1/31/2046  GBP 47.777
Ukraine Government Inte  4.375  1/27/2032  EUR 24.363
Codere Finance 2 Luxemb 12.750 11/30/2027  EUR 25.000
State of North Rhine-We  0.950  1/10/2121  EUR 37.072
Fastighets AB Balder     2.873   6/2/2081  EUR 66.847
Allianz SE               3.875             USD 68.069
Heimstaden Bostad AB     2.625             EUR 42.916
Standard Chartered PLC   4.750             USD 74.500
gategroup Finance Luxem  3.000  2/28/2027  CHF 66.231
Unibail-Rodamco-Westfie  2.125             EUR 74.067
GTC Aurora Luxembourg S  2.250  6/23/2026  EUR 71.802
United Kingdom Gilt      1.750   9/7/2037  GBP 70.701
Dignity Finance PLC      4.696 12/31/2049  GBP 60.801
United Kingdom Gilt      1.250 10/22/2041  GBP 58.751
Banco Santander SA       3.625             EUR 64.961
Aegon NV                 3.939             USD 75.808
Clariane SE              2.250 10/15/2028  EUR 64.534
Ideal Standard Internat  6.375  7/30/2026  EUR 62.614
Fastighets AB Balder     1.250  1/28/2028  EUR 72.825
Prosus NV                4.987  1/19/2052  USD 66.521
Grand City Properties S  2.500             EUR 49.843
VTR Finance NV           6.375  7/15/2028  USD 43.350
Turkey Government Bond  10.500  8/11/2027  TRY 72.150
Altice France SA/France  5.500  1/15/2028  USD 73.991
Coruripe Netherlands BV 10.000  2/10/2027  USD 73.071
Heimstaden AB            9.753             SEK 40.693
ING Groep NV             3.875             USD 74.001
United Kingdom Gilt      1.625 10/22/2071  GBP 46.266
Romanian Government Int  2.875  4/13/2042  EUR 60.941
Kernel Holding SA        6.500 10/17/2024  USD 69.167
Casino Guichard Perrach  3.580   2/7/2025  EUR  1.500
Canary Wharf Group Inve  1.750   4/7/2026  EUR 69.268
Heimstaden Bostad Treas  1.625 10/13/2031  EUR 61.784
Romanian Government Int  2.000  1/28/2032  EUR 73.167
Grand City Properties S  1.500             EUR 42.759
MorphoSys AG             0.625 10/16/2025  EUR 72.600
Altice France SA/France  5.500 10/15/2029  USD 70.569
United Kingdom Inflatio  0.125 11/22/2065  GBP 71.732
Eolo SpA                 4.875 10/21/2028  EUR 72.010
Deutsche Bank AG         4.625             EUR 71.845
Teva Pharmaceutical Fin  4.100  10/1/2046  USD 63.837
Romanian Government Int  2.750  4/14/2041  EUR 60.923
Deutsche Bank AG         4.500             EUR 73.393
Kernel Holding SA        6.750 10/27/2027  USD 59.158
Carnival PLC             1.000 10/28/2029  EUR 66.381
Heimstaden AB            8.638  4/14/2025  SEK 67.573
Altice France SA/France  4.125  1/15/2029  EUR 69.570
Heimstaden Bostad AB     3.625             EUR 44.883
Aroundtown SA            2.125             EUR 34.481
Gol Finance SA           8.000  6/30/2026  USD 55.133
Nordea Bank Abp          3.750             USD 75.193
UBS Group AG             0.625  1/18/2033  EUR 69.664
UBS Group AG             4.375             USD 73.000
Ukraine Government Inte  7.750   9/1/2025  USD 32.945
ATF Netherlands BV       7.078             EUR 44.033
Unicaja Banco SA         4.875             EUR 71.510
Hellenic Republic Gover  1.875  1/24/2052  EUR 60.743
Ukraine Railways Via Ra  8.250   7/9/2026  USD 43.414
Heimstaden Bostad AB     3.375             EUR 46.171
Aragvi Finance Internat  8.450  4/29/2026  USD 66.775
Aroundtown SA            0.375  4/15/2027  EUR 74.233
NAK Naftogaz Ukraine vi  7.625  11/8/2026  USD 39.647
Mallinckrodt Internatio 10.000  6/15/2029  USD 16.375
Euroboden GmbH           5.500  10/1/2024  EUR  1.307
Ukraine Government Inte  9.750  11/1/2030  USD 29.844
Russian Foreign Bond -   5.100  3/28/2035  USD 35.466
Abengoa Abenewco 2 SA    1.500 10/26/2024  EUR  2.391
JSM Global Sarl          4.750 10/20/2030  USD 13.750
United Kingdom Inflatio  0.125  3/22/2058  GBP 72.402
VEON Holdings BV         3.375 11/25/2027  USD 68.834
Heimstaden Bostad Treas  1.000  4/13/2028  EUR 71.517
Aroundtown SA            3.375             EUR 42.026
Prosus NV                3.832   2/8/2051  USD 56.085
Delivery Hero SE         2.125  3/10/2029  EUR 69.573
NatWest Group PLC        4.600             USD 67.750
Aegon NV                 0.496             NLG 64.787
Grupo Antolin-Irausa SA  3.500  4/30/2028  EUR 73.627
B2W Digital Lux Sarl     4.375 12/20/2030  USD 13.750
Italy Buoni Poliennali   1.500  4/30/2045  EUR 59.498
InterCement Financial O  5.750  7/17/2024  USD 67.307
Russian Foreign Bond -   4.375  3/21/2029  USD 48.313
NIBC Bank NV             2.850  2/21/2040  EUR 56.389
NAK Naftogaz Ukraine vi  7.125  7/19/2026  EUR 35.733
Dtek Renewables Finance  8.500 11/12/2024  EUR 51.858
AnaCap Financial Europe  8.725   8/1/2024  EUR 48.520
ING Groep NV             4.250             USD 67.592
Berkeley Group PLC/The   2.500  8/11/2031  GBP 66.670
Ukraine Government Inte  8.994   2/1/2026  USD 30.680
Hungary Government Inte  1.750   6/5/2035  EUR 69.227
Altice France SA/France  4.000  7/15/2029  EUR 68.844
Ukraine Government Inte  7.750   9/1/2029  USD 29.736
Aroundtown SA            1.625             EUR 31.817
Zenith Finco PLC         6.500  6/30/2027  GBP 74.397
MHP SE                   7.750  5/10/2024  USD 68.199
Mithra Pharmaceuticals   4.250 12/17/2025  EUR 46.946
Compact Bidco BV         5.750   5/1/2026  EUR 64.059
VGP NV                   1.500   4/8/2029  EUR 73.785
Air France-KLM           0.125  3/25/2026  EUR 17.404
Vodafone Group PLC       5.125   6/4/2081  USD 70.118
La Financiere Atalian S  5.125  5/15/2025  EUR 68.499
HSE Finance Sarl         5.625 10/15/2026  EUR 53.850
Gross & Partner Grundst  5.000  2/21/2025  EUR 64.983
United Kingdom Inflatio  0.125 11/22/2056  GBP 72.865
Deutsche Pfandbriefbank  8.474             EUR 68.747
Agps Bondco PLC          6.000   8/5/2025  EUR 38.318
French Republic Governm  1.750  5/25/2066  EUR 63.800
Clariane SE              1.875             EUR 29.290
Orpea SA                 2.625  3/10/2025  EUR 26.486
Samhallsbyggnadsbolaget  7.500  6/26/2025  NOK 72.277
Samhallsbyggnadsbolaget  3.120 11/28/2024  NOK 73.000
Ziggo Bond Co BV         3.375  2/28/2030  EUR 74.437
BCP V Modular Services   6.750 11/30/2029  EUR 73.983
Codere Finance 2 Luxemb 11.000  9/30/2026  EUR 74.578
Agps Bondco PLC          4.250  7/31/2025  EUR 71.347
Samhallsbyggnadsbolaget  6.696  1/30/2027  SEK 60.185
Abengoa Abenewco 2 SA    1.500 10/26/2024  EUR  2.391
Mallinckrodt Internatio 10.000  4/15/2025  USD 11.000
Republic of Italy Gover  4.000 10/17/2049  USD 70.994
BAT International Finan  2.250   9/9/2052  GBP 39.988
Russian Railways Via RZ  0.898  10/3/2025  CHF 62.877
Russian Foreign Bond -   2.875  12/4/2025  EUR 62.542
EP Infrastructure AS     1.816   3/2/2031  EUR 68.147
Commerzbank AG           4.250             EUR 74.192
Ocado Group PLC          0.750  1/18/2027  GBP 72.782
Balder Finland Oyj       1.000  1/20/2029  EUR 65.939
Castellum Helsinki Fina  0.875  9/17/2029  EUR 71.124
EIG Pearl Holdings Sarl  4.387 11/30/2046  USD 74.942
HOCHDORF Holding AG      2.500             CHF 28.242
Romanian Government Int  4.000  2/14/2051  USD 67.251
Gazprom PJSC via Gaz Fi  3.897             EUR 60.008
Atento Luxco 1 SA        8.000  2/10/2026  USD  0.513
Spain Government Bond    1.000 10/31/2050  EUR 50.770
NGD Holdings BV          6.750 12/31/2026  USD 70.757
Atos SE                  2.500  11/7/2028  EUR 69.403
Russian Railways Via RZ  3.125             CHF 39.953
Republic of Austria Gov  1.500  11/2/2086  EUR 55.505
TotalEnergies SE         3.250             EUR 74.030
Aroundtown SA            2.875             EUR 35.070
Intesa Sanpaolo SpA      4.125             EUR 73.969
Metro Bank PLC           9.139  6/26/2028  GBP 61.825
CPI Property Group SA    4.875             EUR 34.712
CPI Property Group SA    1.500  1/27/2031  EUR 55.779
Turkey Government Bond  10.400 10/13/2032  TRY 64.350
Allianz SE               2.600             EUR 66.937
CaixaBank SA             3.625             EUR 69.028
Gazprom PJSC via Gaz Fi  1.540  6/30/2027  CHF 61.291
Nykredit Realkredit AS   1.000  10/1/2050  DKK 71.448
Idorsia Ltd              2.125   8/4/2028  CHF 45.583
CPI Property Group SA    3.750             EUR 28.080
Intesa Sanpaolo SpA      4.198   6/1/2032  USD 74.807
CNP Assurances SACA      4.875             USD 74.526
Audax Renovables SA      4.200 12/18/2027  EUR 65.119
Balder Finland Oyj       2.000  1/18/2031  EUR 63.301
Diebold Nixdorf Dutch H  9.000  7/15/2025  EUR 17.698
Heimstaden Bostad Treas  1.375  7/24/2028  EUR 70.601
Accor SA                 0.700  12/7/2027  EUR 45.867
LEG Immobilien SE        0.750  6/30/2031  EUR 72.796
Signa Development Finan  5.500  7/23/2026  EUR 70.375
Samhallsbyggnadsbolaget  7.422             SEK 10.033
Hungary Government Bond  3.000 10/27/2038  HUF 60.745
CPI Property Group SA    4.875             EUR 37.752
Mutuelle Assurance Des   3.500             EUR 71.737
Electricite de France S  4.500  12/4/2069  USD 66.868
United Kingdom Gilt      1.750  7/22/2057  GBP 52.534
Swedbank AB              4.000             USD 72.319
Vonovia SE               1.625   9/1/2051  EUR 47.092
Rallye SA                4.371  2/28/2032  EUR  0.159
Heimstaden Bostad AB     3.000             EUR 44.839
Gazprom PJSC via Gaz Fi  1.500  2/17/2027  EUR 63.966
Nexity SA                0.250   3/2/2025  EUR 58.481
Raiffeisen Bank Interna  4.500             EUR 61.395
Euroboden GmbH           5.500 11/18/2025  EUR  1.851
EQT AB                   0.875  5/14/2031  EUR 73.352
Heimstaden Bostad Treas  0.750   9/6/2029  EUR 63.440
Citycon Oyj              3.625             EUR 51.951
Delivery Hero SE         1.500  1/15/2028  EUR 71.823
Intesa Sanpaolo SpA      4.950   6/1/2042  USD 63.959
Cie de Phalsbourg Sarl   5.000  3/27/2024  EUR 64.658
Wirecard AG              0.500  9/11/2024  EUR 14.354
Kleopatra Holdings 2 SC  6.500   9/1/2026  EUR 63.174
Kingdom of Belgium Gove  0.400  6/22/2040  EUR 60.955
Codere Finance 2 Luxemb 13.625 11/30/2027  USD  9.125
Koninklijke Luchtvaart   0.750             CHF 24.250
Allianz SE               2.625             EUR 70.269
Russian Foreign Bond -   4.750  5/27/2026  USD 55.840
Prosus NV                4.027   8/3/2050  USD 58.501
Nostrum Oil & Gas Finan  5.000  6/30/2026  USD 64.576
Hungary Government Bond  2.250  4/20/2033  HUF 67.058
Bank Gospodarstwa Krajo  0.500   7/8/2031  EUR 72.821
YIT Oyj                  5.750             EUR 74.238
Stellantis NV            1.250  6/20/2033  EUR 73.506
Clariane SE              0.875   3/6/2027  EUR 42.473
Republic of Italy Gover  3.875   5/6/2051  USD 68.555
BPCE SFH SA              0.010  1/29/2036  EUR 64.866
Agps Bondco PLC          5.000  1/14/2029  EUR 28.476
Logicor Financing Sarl   0.875  1/14/2031  EUR 66.943
Gazprom PJSC via Gaz Fi  3.250  2/25/2030  USD 62.217
Aroundtown SA            1.450   7/9/2028  EUR 70.259
Aroundtown SA            1.625  1/31/2028  EUR 73.346
United Kingdom Gilt      1.750  1/22/2049  GBP 57.208
Serbia International Bo  1.650   3/3/2033  EUR 67.266
Kojamo Oyj               0.875  5/28/2029  EUR 71.613
Just Eat Takeaway.com N  0.625   2/9/2028  EUR 67.075
Hungary Government Inte  3.125  9/21/2051  USD 59.297
Ukraine Government Bond  9.790  5/26/2027  UAH 53.822
La Banque Postale SA     3.000             EUR 65.992
UBM Development AG       5.500             EUR 73.521
Romanian Government Int  2.625  12/2/2040  EUR 60.800
TotalEnergies SE         2.125             EUR 72.770
Atrium Finance PLC       2.625   9/5/2027  EUR 73.298
Aroundtown SA            4.750             GBP 36.925
Orpea SA                 0.375  5/17/2027  EUR 42.913
Metinvest BV             8.500  4/23/2026  USD 66.000
Altice France SA/France  5.125  1/15/2029  USD 69.919
Offshore Drilling Holdi  8.375  9/20/2020  USD  1.375
Polyus Finance PLC       3.250 10/14/2028  USD 61.664
Solocal Group           10.526  3/15/2025  EUR 39.693
Prosus NV                2.778  1/19/2034  EUR 72.167
Garfunkelux Holdco 3 SA  7.750  11/1/2025  GBP 74.779
Julius Baer Group Ltd    3.625             USD 68.936
Yorkshire Water Finance  2.750  4/18/2041  GBP 62.623
CTP NV                   1.500  9/27/2031  EUR 71.721
Endo Luxembourg Finance  6.125   4/1/2029  USD 72.000
Flamingo Lux II SCA      5.000  3/31/2029  EUR 64.417
Italy Buoni Poliennali   1.800   3/1/2041  EUR 67.867
BPCE SA                  2.125 10/13/2046  EUR 73.398
Direct Line Insurance G  4.750             GBP 66.911
NAK Naftogaz Ukraine vi  7.375  7/19/2022  USD 58.550
Rallye SA                4.000  2/28/2032  EUR  0.139
Russian Railways Via RZ  0.840  3/12/2026  CHF 53.424
Brit Insurance Holdings  3.676  12/9/2030  GBP 71.591
Digital Dutch Finco BV   1.000  1/15/2032  EUR 71.658
Union Fenosa Preferente  5.248             EUR 70.923
Ageas SA/NV              3.875             EUR 72.999
Interpipe Holdings PLC   8.375  5/13/2026  USD 66.004
Metinvest BV             5.625  6/17/2025  EUR 69.449
Ilija Batljan Invest AB  6.975 12/15/2024  SEK 24.799
Haya Holdco 2 PLC       12.462 11/30/2025  EUR 38.536
Tinkoff Bank JSC Via TC  6.000             USD 48.864
Gazprom PJSC via Gaz Fi  3.500  7/14/2031  USD 60.228
Gazprom PJSC via Gaz Fi  3.000  6/29/2027  USD 71.000
E.ON SE                  0.875 10/18/2034  EUR 73.845
Boparan Finance PLC      7.625 11/30/2025  GBP 66.986
Studentbostader i Norde  9.521  5/14/2024  SEK 52.100
Rothschild & Co Continu  3.470             EUR 66.358
MHP Lux SA               6.950   4/3/2026  USD 57.419
Rothesay Life PLC        4.875             USD 74.757
United Kingdom Gilt      1.625 10/22/2054  GBP 51.426
Gazprom PJSC via Gaz Fi  2.950  1/27/2029  USD 63.000
CPI Property Group SA    1.750  1/14/2030  EUR 63.433
Ukraine Railways Via Ra  7.875  7/15/2028  USD 38.684
Tullow Oil PLC           7.000   3/1/2025  USD 70.255
JT International Financ  3.300  9/14/2051  USD 60.572
ADLER Real Estate AG     3.000  4/27/2026  EUR 72.770
Republic of Austria Gov  0.750  3/20/2051  EUR 55.121
Deutsche Bank AG         1.375  2/17/2032  EUR 74.309
Shell International Fin  3.000 11/26/2051  USD 65.362
Hungary Government Inte  0.500 11/18/2030  EUR 73.282
Triodos Bank NV          2.250   2/5/2032  EUR 73.855
EnfraGen Energia Sur SA  5.375 12/30/2030  USD 72.429
Royalty Pharma PLC       3.300   9/2/2040  USD 67.287
Russian Foreign Bond -   5.625   4/4/2042  USD 67.663
Serbia International Bo  2.050  9/23/2036  EUR 62.012
Samhallsbyggnadsbolaget  6.703  4/11/2025  SEK 71.651
BAT International Finan  4.000 11/23/2055  GBP 55.959
Russian Foreign Bond -   4.250  6/23/2027  USD 52.120
Codere Finance 2 Luxemb 13.625 11/30/2027  USD  9.009
Desenio Group AB         9.221 12/16/2024  SEK 67.808
Sberbank of Russia Via   5.125 10/29/2022  USD 32.618
AerCap Ireland Capital   3.850 10/29/2041  USD 72.776
Gazprom PJSC via Gaz Fi  4.599             USD 59.500
Gazprom PJSC Via Gaz Ca  2.500  3/21/2026  EUR 72.420
BAE Systems PLC          3.000  9/15/2050  USD 64.856
La Financiere Atalian S  6.625  5/15/2025  GBP 67.753
Russian Foreign Bond -   7.500  3/31/2030  USD 66.029
Belfius Bank SA          3.625             EUR 74.938
Orsted AS                2.500  2/18/3021  GBP 66.322
Agps Bondco PLC          4.625  1/14/2026  EUR 33.449
MC Brazil Downstream Tr  7.250  6/30/2031  USD 63.279
Shell International Fin  3.250   4/6/2050  USD 69.555
Vonovia SE               0.750   9/1/2032  EUR 68.131
IOG Plc                 13.072  9/20/2024  EUR 50.333
Pershing Square Holding  3.250  10/1/2031  USD 73.671
NPC Ukrenergo            6.875  11/9/2028  USD 26.766
Arrival SA               3.500  12/1/2026  USD 13.172
Sagax Euro Mtn NL BV     1.000  5/17/2029  EUR 74.027
Lloyds Banking Group PL  2.707  12/3/2035  GBP 73.126
MHP Lux SA               6.250  9/19/2029  USD 54.099
Grand City Properties S  6.332             EUR 59.515
VTB Bank OJSC Via VTB C  6.950 10/17/2022  USD  6.718
BUPA Finance PLC         4.000             GBP 59.500
Gazprom PJSC Via Gaz Ca  4.950  3/23/2027  USD 74.504
Bulgaria Government Int  1.375  9/23/2050  EUR 54.241
Logicor Financing Sarl   2.000  1/17/2034  EUR 64.771
Saga PLC                 5.500  7/15/2026  GBP 74.825
PB International BV      7.625 12/31/2025  USD 41.100
Siemens Financieringsma  2.875  3/11/2041  USD 72.133
Gazprom PJSC Via Gaz Ca  4.950   2/6/2028  USD 74.924
EnBW Energie Baden-Wuer  2.125  8/31/2081  EUR 71.343
Housing & Care 21        3.288  11/8/2049  GBP 66.600
Russian Foreign Bond -   1.850 11/20/2032  EUR 36.688
Cardea Europe AG         7.250  12/8/2023  EUR 33.250
JAB Holdings BV          4.500   4/8/2052  USD 73.622
Moby SpA                 7.750  2/15/2023  EUR 60.090
Orsted AS                1.500  2/18/3021  EUR 74.347
Quant AB                 9.781 11/15/2025  EUR 67.451
Royalty Pharma PLC       3.350   9/2/2051  USD 60.717
Social Chain AG /The     5.750   4/7/2024  EUR  1.250
Croatia Government Inte  1.750   3/4/2041  EUR 69.711
State of North Rhine-We  2.150  3/21/2119  EUR 65.460
Republic of Belarus Int  5.875  2/24/2026  USD 48.225
VF Ukraine PAT via VFU   6.200  2/11/2025  USD 74.138
Czech Republic Governme  1.500  4/24/2040  CZK 64.453
Vienna Insurance Group   1.000  3/26/2036  EUR 71.698
Rickmers Holding AG      8.875  6/11/2018  EUR  2.193
SPP-Distribucia AS       1.000   6/9/2031  EUR 68.136
Cellnex Finance Co SA    3.875   7/7/2041  USD 71.379
Agps Bondco PLC          5.500 11/13/2026  EUR 32.206
Rothesay Life PLC        5.000             GBP 63.911
Electricite de France S  1.000 11/29/2033  EUR 73.404
British Telecommunicati  4.250  11/8/2049  USD 71.384
Slovenia Government Bon  1.175  2/13/2062  EUR 52.348
BNP Paribas SA           4.625             USD 75.750
Romanian Government Int  3.375   2/8/2038  EUR 72.599
Borets Finance DAC       6.000  9/17/2026  USD 48.771
Republic of Austria Gov  1.500  2/20/2047  EUR 70.828
DDM Debt AB              9.000  4/19/2026  EUR 68.902
Italy Buoni Poliennali   1.450   3/1/2036  EUR 72.428
LEG Immobilien SE        1.000 11/19/2032  EUR 70.222
Tinkoff Bank JSC Via TC 11.002             USD 55.000
Saxa Gres Spa            7.000   8/4/2027  EUR  4.193
Nexity SA                0.875  4/19/2028  EUR 38.015
Digital Intrepid Holdin  1.375  7/18/2032  EUR 73.013
Altice France Holding S  6.000  2/15/2028  USD 42.268
BNG Bank NV              0.125  4/19/2033  EUR 74.390
Just Group PLC           5.000             GBP 63.672
Phosagro OAO Via Phosag  2.600  9/16/2028  USD 64.421
UBS Group AG             3.179  2/11/2043  USD 67.680
Electricite de France S  2.000  12/9/2049  EUR 58.422
Altice France Holding S 10.500  5/15/2027  USD 51.264
State Agency of Roads o  6.250  6/24/2030  USD 27.532
BAWAG Group AG           5.125             EUR 73.522
Lendlease Europe Financ  3.500  12/2/2033  GBP 65.629
Metinvest BV             7.750 10/17/2029  USD 58.500
Severstal OAO Via Steel  3.150  9/16/2024  USD  5.485
Diebold Nixdorf Dutch H  9.000  7/15/2025  EUR 17.698
Logicor Financing Sarl   1.625  1/17/2030  EUR 73.573
Glencore Capital Financ  1.250   3/1/2033  EUR 72.361
Societe Generale SA      4.027  1/21/2043  USD 65.004
CK Hutchison Group Tele  2.625 10/17/2034  GBP 66.918
Ireland Government Bond  0.550  4/22/2041  EUR 62.964
Ireland Government Bond  0.400  5/15/2035  EUR 73.679
BMW Finance NV           0.200  1/11/2033  EUR 73.266
WM Morrison Supermarket  4.750   7/4/2029  GBP 58.822
HSE Finance Sarl         9.531 10/15/2026  EUR 57.519
OSB Group PLC            6.000             GBP 74.085
Deutsche Bank AG/New Yo  3.742   1/7/2033  USD 73.599
Samhallsbyggnadsbolaget  7.284  2/19/2024  SEK 74.566
Russian Railways Via RZ  2.200  5/23/2027  EUR 68.227
Aedifica SA              0.750   9/9/2031  EUR 72.174
Russian Foreign Bond -   2.650  5/27/2036  EUR 34.630
Aegon NV                 1.425             NLG 72.011
Bank Gospodarstwa Krajo  2.250  7/21/2033  PLN 69.334
Alfa Bank AO Via Alfa B  5.950  4/15/2030  USD  1.359
Vnesheconombank Via VEB  6.800 11/22/2025  USD  6.507
Enel SpA                 1.875             EUR 74.027
Siemens Financieringsma  2.875  3/11/2041  USD 71.889
Voltalia SA              1.000  1/13/2025  EUR 29.056
Fresnillo PLC            4.250  10/2/2050  USD 72.574
UBS Group AG             0.625  2/24/2033  EUR 70.859
Republic of Austria Gov  0.250 10/20/2036  EUR 67.989
Deutsche Bahn Finance G  0.625  12/8/2050  EUR 48.148
Ukraine Government Bond 12.700 10/30/2024  UAH 65.938
Saderea DAC             12.500 11/30/2026  USD 46.500
Maisons du Monde SA      0.125  12/6/2023  EUR 47.541
Marston's Issuer PLC     7.819  7/16/2035  GBP 70.635
Financiere Immobiliere   6.000  1/30/2025  EUR  9.587
Czech Gas Networks Inve  0.875  3/31/2031  EUR 73.202
Tresu Investment Holdin  8.554   1/2/2025  EUR 44.017
Agps Bondco PLC          5.000  4/27/2027  EUR 30.825
Kingdom of Belgium Gove  2.250  6/22/2057  EUR 74.797
AstraZeneca PLC          3.000  5/28/2051  USD 69.287
Southern Housing         2.375  10/8/2036  GBP 67.770
Thomas Cook Group PLC    6.250  6/15/2022  EUR  0.499
Rallye SA                4.000  2/28/2032  CHF  1.702
Realkredit Danmark A/S   1.000  10/1/2050  DKK 71.484
Credit Bank of Moscow V  3.100  1/21/2026  EUR 27.901
Republic of Belarus Int  7.625  6/29/2027  USD 48.792
Development Bank of the  6.750   5/2/2024  USD 41.325
Samhallsbyggnadsbolaget  6.380  8/27/2025  NOK 68.460
Prosus NV                1.985  7/13/2033  EUR 67.700
University of Oxford     2.544  12/8/2117  GBP 49.789
Scandinavian Airlines S  0.625             CHF  9.440
BICO Group AB            2.875  3/19/2026  SEK 69.003
Slovenia Government Bon  0.488 10/20/2050  EUR 45.636
NET4GAS sro              8.040  1/28/2028  CZK 66.000
Altice France SA/France  5.500  1/15/2028  USD 74.530
FIGEAC-AERO              1.750 10/18/2028  EUR 23.104
Altice France SA/France  5.125  7/15/2029  USD 69.404
Samhallsbyggnadsbolaget  7.038  1/14/2025  SEK 70.990
Credit Bank of Moscow V  3.875  9/21/2026  USD 34.566
Sweden Government Bond   1.375  6/23/2071  SEK 54.576
Vonovia SE               1.000  6/16/2033  EUR 67.443
Abengoa Abenewco 2 SA    1.500 10/26/2024  USD  0.009
Gazprom PJSC via Gaz Fi  2.950  4/15/2025  EUR 74.134
Mutuelle Assurance Des   2.125  6/21/2052  EUR 69.590
Slovenia Government Bon  0.688   3/3/2081  EUR 38.005
Fnac Darty SA            0.250  3/23/2027  EUR 67.160
Orpea SA                 2.000   4/1/2028  EUR 27.343
Raiffeisen Bank Interna  1.375  6/17/2033  EUR 71.590
Selina Hospitality PLC   6.000  11/1/2026  USD 25.512
European Financial Stab  1.450   9/5/2040  EUR 74.970
Nykredit Realkredit AS   1.000  10/1/2053  DKK 70.598
Chancellor Masters & Sc  0.250  6/27/2068  GBP 54.874
UBS Group AG             0.875  11/3/2031  EUR 74.797
Sweden Government Bond   0.500 11/24/2045  SEK 60.632
Paragon Treasury Plc     3.625  1/21/2047  GBP 70.383
Immigon Portfolioabbau  10.138             EUR 17.145
Blackstone Property Par  1.625  4/20/2030  EUR 73.605
Pandion AG               5.500   2/5/2026  EUR 67.414
Russian Railways Via RZ  1.195   4/3/2028  CHF 56.705
BNP Paribas SA           4.500             USD 73.750
Slovakia Government Bon  0.375  4/21/2036  EUR 63.847
CPI Property Group SA    5.800             SGD 43.838
Rallye SA                3.250  2/28/2032  CHF  0.145
TenneT Holding BV        0.500 11/30/2040  EUR 63.080
alstria office REIT-AG   1.500 11/15/2027  EUR 71.382
Electricite de France S  1.875 10/13/2036  EUR 73.542
VTB Bank PJSC Via VTB E  9.500             USD 17.644
State of North Rhine-We  1.750  7/11/2068  EUR 61.177
Ukraine Government Bond  9.990  5/22/2024  UAH 68.277
RWE AG                   1.000 11/26/2033  EUR 73.302
Idavang A/S             11.009 11/11/2025  EUR 73.476
SAS AB                   8.295             SEK 10.471
Oscar Properties Holdin 11.070   7/5/2024  SEK 48.576
Suek Securities DAC      3.375  9/15/2026  USD 69.099
Georgia Capital JSC      8.500   8/3/2028  USD 73.965
Abengoa Abenewco 2 SA    1.500 10/26/2024  USD  1.423
Russian Foreign Bond -   1.125 11/20/2027  EUR 38.898
Russian Railways Via RZ  7.487  3/25/2031  GBP 67.753
Vodafone Group PLC       3.000  8/12/2056  GBP 55.112
Cofinimmo SA             0.875  12/2/2030  EUR 74.917
National Grid Electrici  0.872 11/26/2040  EUR 59.352
BNP Paribas SA           0.625  12/3/2032  EUR 71.376
Czech Republic Governme  1.950  7/30/2037  CZK 74.492
ALROSA Finance SA        4.650   4/9/2024  USD 10.162
Aberdeen City Council    0.100  2/28/2054  GBP 69.520
Affordable Housing Fina  2.893  8/11/2043  GBP 72.985
Veganz Group AG          7.500  2/24/2025  EUR 60.828
Audax Renovables SA      2.750 11/30/2025  EUR 74.698
PREOS Global Office Rea  7.500  12/9/2024  EUR  4.260
Mallinckrodt Internatio 10.000  6/15/2029  USD 13.550
Derwent London PLC       1.875 11/17/2031  GBP 70.131
Thames Water Utilities   1.250  1/31/2032  EUR 74.877
Altice Finco SA          4.750  1/15/2028  EUR 63.444
NET4GAS sro              3.500  7/28/2026  EUR 66.017
UNIQA Insurance Group A  2.375  12/9/2041  EUR 73.956
Akelius Residential Pro  0.750  2/22/2030  EUR 72.313
Orpea SA                 2.200 12/15/2024  EUR 27.928
CPI Property Group SA    2.750  1/22/2028  GBP 69.300
Alfa Bank AO Via Alfa B  5.900             USD  7.634
Sovcombank Via SovCom C  7.600             USD  4.035
BNP Paribas SA           2.824  1/26/2041  USD 63.754
TotalEnergies Capital I  3.127  5/29/2050  USD 67.891
Credit Bank of Moscow V  8.875             USD 13.056
Free and Hanseatic City  1.095  6/13/2046  EUR 62.123
Neoen SA                 2.000   6/2/2025  EUR 44.198
Chelyabinsk Pipe Plant   4.500  9/19/2024  USD 58.616
BNP Paribas SA           1.250  7/13/2031  GBP 69.561
Unigel Luxembourg SA     8.750  10/1/2026  USD 38.678
Manchester Airport Grou  2.875  9/30/2044  GBP 62.554
Gazprom PJSC via Gaz Fi  1.850 11/17/2028  EUR 60.133
Royalty Pharma PLC       3.550   9/2/2050  USD 63.879
Thermo Fisher Scientifi  2.000 10/18/2051  EUR 63.002
Intu Debenture PLC       5.562 12/31/2027  GBP 40.083
Agri Resources Group SA  8.000  3/17/2026  EUR  9.645
Bank Millennium SA       8.940  1/30/2029  PLN 73.299
Bank Gospodarstwa Krajo  2.375 11/27/2040  PLN 61.712
Lukoil Securities BV     3.875   5/6/2030  USD 74.222
Lloyds Banking Group PL  4.344   1/9/2048  USD 73.155
Banque Federative du Cr  1.125 11/19/2031  EUR 73.782
Lukoil Capital DAC       3.600 10/26/2031  USD 72.284
Wuestenrot & Wuerttembe  2.125  9/10/2041  EUR 71.163
Syngenta Finance NV      4.375  3/28/2042  USD 70.637
DXC Capital Funding DAC  0.950  9/15/2031  EUR 71.503
Muenchener Rueckversich  1.000  5/26/2042  EUR 72.493
Metalloinvest Finance D  3.375 10/22/2028  USD 54.088
Nykredit Realkredit AS   1.500  10/1/2053  DKK 74.761
Sberbank of Russia Via   5.250  5/23/2023  USD 32.618
nextbike GmbH            6.000  3/31/2025  EUR 65.000
Berlin Hyp AG            0.375  4/21/2031  EUR 74.216
Slovenia Government Bon  1.750  11/3/2040  EUR 73.741
Russian Agricultural Ba  8.500 10/16/2023  USD 26.135
Ilija Batljan Invest AB 10.475             SEK  4.643
Smurfit Kappa Treasury   1.000  9/22/2033  EUR 73.249
ABN AMRO Bank NV         1.125  4/23/2039  EUR 71.667
Chesnara PLC             4.750   8/4/2032  GBP 72.797
John Lewis PLC           4.250 12/18/2034  GBP 61.537
Altarea SCA              1.750  1/16/2030  EUR 70.949
Societe Du Grand Paris   0.700 10/15/2060  EUR 37.038
Credit Bank of Moscow V  4.700  1/29/2025  USD 26.156
Slovakia Government Bon  1.000 10/13/2051  EUR 49.898
Vnesheconombank Via VEB  5.942 11/21/2023  USD  9.666
GTLK Europe Capital DAC  5.950  4/17/2025  USD 29.218
TenneT Holding BV        0.125 11/30/2032  EUR 74.826
Optivo Finance PLC       2.857  10/7/2035  GBP 73.820
Pershing Square Holding  3.250  10/1/2031  USD 73.118
Places For People Treas  2.500  1/26/2036  GBP 68.279
Kreditanstalt fuer Wied  0.875   7/4/2039  EUR 70.170
Ukreximbank Via Biz Fin  9.950 11/14/2029  USD 68.125
Prosus NV                2.031   8/3/2032  EUR 70.653
publity AG               5.500  6/19/2025  EUR 57.470
JAB Holdings BV          2.250 12/19/2039  EUR 69.782
Vonovia SE               1.500  6/14/2041  EUR 54.601
Schlote Holding GmbH     6.750 11/21/2024  EUR 27.649
UK Municipal Bonds Agen  1.625  8/26/2060  GBP 39.540
Adecco International Fi  0.500  9/21/2031  EUR 74.838
Metinvest BV             7.650  10/1/2027  USD 61.609
Vonovia SE               0.625  3/24/2031  EUR 71.787
EnBW International Fina  0.500   3/1/2033  EUR 72.150
Deutsche Telekom AG      3.625  1/21/2050  USD 70.908
Balder Finland Oyj       1.375  5/24/2030  EUR 62.813
K2A Knaust & Andersson   9.860             SEK 65.000
BAT International Finan  2.000  3/13/2045  EUR 57.151
Nykredit Realkredit AS   1.000  10/1/2053  DKK 65.782
Vonovia Finance BV       1.625  10/7/2039  EUR 59.568
Medtronic Global Holdin  1.375 10/15/2040  EUR 65.979
Nats En Route PLC        1.750  9/30/2033  GBP 70.686
Bigben Interactive       1.125  2/19/2026  EUR 64.610
Fresenius Finance Irela  0.875  10/1/2031  EUR 74.794
Soc Nationale SNCF SACA  1.000  1/19/2061  EUR 39.857
FF Group Finance Luxemb  3.250  11/2/2021  CHF  4.137
Credit Bank of Moscow V  5.150  2/20/2024  EUR 30.727
Vedanta Resources Finan  8.950  3/11/2025  USD 67.080
Pozavarovalnica Sava dd  3.750  11/7/2039  EUR 67.271
Wellcome Trust Ltd/The   1.500  7/14/2071  GBP 37.626
Hacienda Investments Lt  5.350   2/8/2028  USD 58.116
Slovakia Government Bon  2.000 10/17/2047  EUR 68.649
Hellenic Republic Gover  2.085  7/25/2057  EUR 30.248
AstraZeneca PLC          2.125   8/6/2050  USD 58.110
Aroundtown SA            3.000 10/16/2029  GBP 64.736
Jyske Realkredit A/S     1.000  10/1/2050  DKK 71.524
Herens Holdco Sarl       4.750  5/15/2028  USD 74.916
Republic of Belarus Int  6.200  2/28/2030  USD 37.978
UNEDIC ASSEO             0.500  5/25/2036  EUR 69.515
Shell International Fin  1.750  9/10/2052  GBP 45.094
Ageas SA/NV              1.875 11/24/2051  EUR 73.335
Karlou BV                7.750  6/18/2024  USD 11.400
JT International Financ  2.750  9/28/2033  GBP 74.247
SABIC Capital I BV       3.000  9/14/2050  USD 68.851
Groupe des Assurances d  1.850  4/21/2042  EUR 73.786
Mime Petroleum AS       13.500  3/21/2083  USD 20.000
SCF Capital Designated   3.850  4/26/2028  USD 65.808
Verbund AG               0.900   4/1/2041  EUR 66.373
Merlin Properties Socim  1.875  12/4/2034  EUR 70.403
Nordea Kredit Realkredi  1.000  10/1/2050  DKK 71.678
Ekosem-Agrar AG          2.500  12/7/2027  EUR 15.358
Turkey Government Bond   9.100  2/16/2028  TRY #N/A N/A
Shell International Fin  2.875 11/26/2041  USD 70.181
HSBC Holdings PLC        4.000   9/8/2036  USD 73.677
Plusplus Capital Financ 11.000  7/29/2026  EUR 73.477
Ekosem-Agrar AG          2.500  7/31/2029  EUR 18.195
Lar Espana Real Estate   1.843  11/3/2028  EUR 73.751
Barclays PLC             3.330 11/24/2042  USD 67.240
Nestle Finance Internat  0.875  6/14/2041  EUR 65.539
BP Capital Markets BV    1.467  9/21/2041  EUR 63.498
Orange SA                0.625 12/16/2033  EUR 73.683
Electricite de France S  4.750  10/6/2045  USD 74.237
Slovakia Government Bon  2.250  6/12/2068  EUR 65.212
Societe Generale SA      3.625   3/1/2041  USD 62.544
Thermo Fisher Scientifi  1.625 10/18/2041  EUR 67.521
Parnassia Groep BV       1.200  12/1/2051  EUR 69.121
BNP Paribas SA           2.000  9/13/2036  GBP 62.995
Anheuser-Busch InBev SA  2.850  5/25/2037  GBP 74.846
Segro Capital Sarl       0.500  9/22/2031  EUR 73.359
Hexagon Housing Associa  3.625  4/22/2048  GBP 66.667
Basque Government        1.375 10/31/2070  EUR 41.006
LEG Immobilien SE        0.875  3/30/2033  EUR 67.568
Nykredit Realkredit AS   1.500  10/1/2053  DKK 70.348
Home Credit & Finance B  8.800             USD  5.364
Holcim Finance Luxembou  0.625  1/19/2033  EUR 71.630
BNP Paribas SA           2.824  1/26/2041  USD 63.974
Kenbourne Invest SA      4.700  1/22/2028  USD 59.996
Finland Government Bond  0.125  4/15/2036  EUR 67.566
Travelex Financing PLC   8.000  5/15/2022  EUR  0.303
VTB Bank OJSC Via VTB C  4.073 10/24/2024  CHF 16.000
Credit Bank of Moscow V  7.625             USD 26.434
Direct Line Insurance G  4.000   6/5/2032  GBP 71.929
Fastator AB             10.318 12/23/2025  SEK 70.906
UBS Group AG             4.375             USD 73.740
Trinseo Materials Opera  5.125   4/1/2029  USD 53.516
Sirius Real Estate Ltd   1.750 11/24/2028  EUR 74.858
CM.com NV                2.000   9/9/2026  EUR 64.474
Deutsche Telekom AG      1.750  12/9/2049  EUR 69.203
esure Group PLC          6.000             GBP 69.177
Senvion Holding GmbH     3.875 10/25/2022  EUR  0.145
Prosus NV                3.832   2/8/2051  USD 56.242
Air Berlin PLC           6.750   5/9/2019  EUR  0.363
ALROSA Finance SA        3.100  6/25/2027  USD  6.629
British Telecommunicati  4.250  11/8/2049  USD 70.570
Digital Intrepid Holdin  0.625  7/15/2031  EUR 71.533
Finland Government Bond  0.250  9/15/2040  EUR 60.350
Heineken NV              1.750   5/7/2040  EUR 72.958
Bayer AG                 1.000  1/12/2036  EUR 68.508
Portugal Obrigacoes do   0.900 10/12/2035  EUR 74.044
Samhallsbyggnadsbolaget  4.500  3/10/2025  EUR 70.338
Pershing Square Holding  4.950  7/15/2039  USD 72.089
Enel Finance Internatio  1.125 10/17/2034  EUR 71.609
GTLK Europe Capital DAC  4.800  2/26/2028  USD 22.382
Barclays PLC             3.811  3/10/2042  USD 68.746
Imperial Brands Finance  1.750  3/18/2033  EUR 73.052
Cyprus Government Inter  2.250  4/16/2050  EUR 66.536
Cie de Financement Fonc  0.600 10/25/2041  EUR 60.980
SNCF Reseau              0.750  5/25/2036  EUR 70.588
Morhomes PLC             3.400  2/19/2038  GBP 74.717
United Utilities Water   1.875   6/3/2042  GBP 54.635
OMV AG                   1.000   7/3/2034  EUR 74.315
Muenchener Hypothekenba  0.010  11/2/2040  EUR 55.770
Assura Financing PLC     1.625  6/30/2033  GBP 66.295
Wales & West Utilities   3.000   8/3/2038  GBP 71.038
Jyske Realkredit A/S     1.500  10/1/2053  DKK 74.881
UniCredit Bank AG        0.010  1/21/2036  EUR 65.937
Kreditanstalt fuer Wied  0.050  9/29/2034  EUR 71.095
Utmost Group PLC         4.000 12/15/2031  GBP 72.296
Enel Finance Internatio  0.875  6/17/2036  EUR 65.733
Hungary Government Bond  2.250  6/22/2034  HUF 64.013
Proximus SADP            0.750 11/17/2036  EUR 66.072
Agence Francaise de Dev  0.375  5/25/2036  EUR 66.802
Bromford Housing Group   3.125   5/3/2048  GBP 67.040
Repsol Europe Finance S  0.875   7/6/2033  EUR 74.711
Vnesheconombank Via VEB  6.025   7/5/2022  USD  7.295
Hacienda Investments Lt  5.075  2/15/2023  USD 25.175
Latvia Government Inter  1.375  5/16/2036  EUR 73.092
Aroundtown SA            3.625  4/10/2031  GBP 62.704
Banque Federative du Cr  3.103             EUR 74.833
EYEMAXX Real Estate AG   5.500  4/26/2023  EUR  1.726
UBS Group AG             3.179  2/11/2043  USD 67.627
Latvia Government Inter  1.875  2/19/2049  EUR 67.598
Landwirtschaftliche Ren  0.010 11/26/2040  EUR 56.571
State of North Rhine-We  1.950  9/26/2078  EUR 63.665
GTLK Europe Capital DAC  4.650  3/10/2027  USD 22.689
State of North Rhine-We  1.000 10/16/2046  EUR 61.482
Thames Water Utilities   2.375  4/22/2040  GBP 56.813
Russian Foreign Bond -   5.875  9/16/2043  USD 66.416
Abengoa Abenewco 2 Bis   1.500  4/26/2024  EUR  0.498
Credit Bank of Moscow V  7.500  10/5/2027  USD 21.609
TotalEnergies Capital I  3.386  6/29/2060  USD 67.822
Channel Link Enterprise  3.848  6/30/2050  GBP 65.169
BASF SE                  1.625 11/15/2037  EUR 73.180
Societe Generale SA      4.027  1/21/2043  USD 65.097
Anglo American Capital   3.950  9/10/2050  USD 71.065
LSEGA Financing PLC      3.200   4/6/2041  USD 71.956
Southern Gas Networks P  1.250  12/2/2031  GBP 69.864
GlaxoSmithKline Capital  1.625  5/12/2035  GBP 67.371
Nederlandse Waterschaps  0.375  9/28/2046  EUR 51.679
LEG Immobilien SE        1.500  1/17/2034  EUR 70.683
Cie Generale des Etabli  0.625  11/2/2040  EUR 64.233
DH Europe Finance II Sa  1.350  9/18/2039  EUR 68.553
Sydbank AS               3.259             EUR 72.726
Metropolitan Housing Tr  1.875  7/28/2036  GBP 64.024
Land Securities Capital  2.750  9/22/2059  GBP 55.139
NET4GAS sro              2.745  1/28/2031  CZK 46.939
Kommunekredit            0.375   2/3/2045  DKK 53.171
Cooperatieve Rabobank U  0.750  6/21/2039  EUR 66.757
Samhallsbyggnadsbolaget  4.940 12/18/2025  SEK 64.459
Tritax Big Box REIT PLC  1.500 11/27/2033  GBP 64.272
Barclays Bank PLC       12.000  9/24/2025  TRY 69.380
Latvia Government Inter  2.250  2/15/2047  EUR 73.546
Eurogrid GmbH            0.741  4/21/2033  EUR 74.804
Sovcombank Via SovCom C  3.400  1/26/2025  USD  2.610
Finland Government Bond  0.500  4/15/2043  EUR 59.818
Pension Insurance Corp   3.625 10/21/2032  GBP 73.322
Richemont International  1.625  5/26/2040  EUR 73.012
Lloyds Banking Group PL  3.369 12/14/2046  USD 64.199
Vedanta Resources Ltd    6.125   8/9/2024  USD 65.387
Braskem Netherlands Fin  5.875  1/31/2050  USD 74.456
Eni SpA                  1.000 10/11/2034  EUR 72.448
UNEDIC ASSEO             0.250  7/16/2035  EUR 69.654
Region of Pays de la Lo  1.704 10/23/2040  EUR 70.937
Cadent Finance PLC       2.625  9/22/2038  GBP 64.370
Simon International Fin  1.125  3/19/2033  EUR 71.382
European Financial Stab  0.700  1/17/2053  EUR 49.829
Blend Funding PLC        3.459  9/21/2047  GBP 71.426
BNG Bank NV              0.125   7/9/2035  EUR 68.983
Enexis Holding NV        0.375  4/14/2033  EUR 74.509
Wellcome Trust Ltd/The   2.517   2/7/2118  GBP 49.869
ABN AMRO Bank NV         1.250  1/20/2034  EUR 74.848
Finland Government Bond  1.375  4/15/2047  EUR 69.837
Siemens Financieringsma  0.500   9/5/2034  EUR 72.493
MMK International Capit  4.375  6/13/2024  USD 27.930
Cadent Finance PLC       2.750  9/22/2046  GBP 57.682
Landesbank Hessen-Thuer  0.500  1/19/2037  EUR 69.196
Market Parent Finco PLC  6.750  10/1/2029  GBP 63.270
Shell International Fin  0.875  11/8/2039  EUR 62.379
Mitsubishi UFJ Investor  7.913 12/30/2099  EUR  2.922
Bulgaria Government Bon  1.500  6/21/2039  BGN 54.406
Soc Nationale SNCF SACA  0.875  2/28/2051  EUR 46.580
Evraz PLC                5.375  3/20/2023  USD 71.057
Altice France SA/France  5.500 10/15/2029  USD 70.652
GTLK Europe Capital DAC  4.949  2/18/2026  USD 19.180
Gol Finance SA           8.000  6/30/2026  USD 54.957
SRV Group Oyj            4.875             EUR 40.000
Standard Chartered PLC   4.300             USD 74.855
Russian Federal Bond -   6.100  7/18/2035  RUB 67.841
Nederlandse Gasunie NV   0.750 10/13/2036  EUR 67.800
BUPA Finance PLC         4.125  6/14/2035  GBP 74.308
Medtronic Global Holdin  1.750   7/2/2049  EUR 61.828
Nykredit Realkredit AS   2.000  10/1/2053  DKK 72.509
Storebrand Livsforsikri  1.875  9/30/2051  EUR 72.964
Grand City Properties S  2.000 10/25/2032  EUR 61.346
Lithuania Government In  0.750  7/15/2051  EUR 47.367
NIBC Bank NV             3.089             EUR 69.641
Petrobras Global Financ  4.750   4/2/2038  EUR 50.826
Altice France Holding S  8.000  5/15/2027  EUR 47.083
Luzerner Kantonalbank A  0.160 12/23/2043  CHF 70.595
Medtronic Global Holdin  1.625 10/15/2050  EUR 58.724
Sovcombank Via SovCom C  7.750             USD  1.358
National Grid PLC        0.750   9/1/2033  EUR 70.683
Air Berlin PLC           8.250  4/19/2018  EUR  0.446
Deutsche Telekom AG      3.625  1/21/2050  USD 70.681
East Slope Residencies   0.100  2/28/2062  GBP 59.547
Offentliga Hus I Norden 10.662             SEK 48.027
Clarion Funding PLC      1.875   9/7/2051  GBP 45.908
Ukraine Government Inte  6.876  5/21/2031  USD 27.323
Landesbank Baden-Wuertt  0.375  2/21/2031  EUR 74.735
JAB Holdings BV          3.750  5/28/2051  USD 64.032
Mondelez International   1.250   9/9/2041  EUR 64.036
Credit Agricole SA       2.811  1/11/2041  USD 63.894
Amprion GmbH             0.625  9/23/2033  EUR 72.382
Novo Banco SA/Luxembour  3.500  1/23/2043  EUR 73.278
GTLK Europe DAC          5.125  5/31/2024  USD 36.146
Enel Finance Internatio  0.875  9/28/2034  EUR 70.325
BP Capital Markets BV    0.933  12/4/2040  EUR 59.024
SKF AB                   0.250  2/15/2031  EUR 74.835
Shell International Fin  1.000 12/10/2030  GBP 73.768
PIK Securities DAC       5.625 11/19/2026  USD 44.320
Intesa Sanpaolo SpA      4.700  9/23/2049  USD 69.241
Home Group Ltd           3.125  3/27/2043  GBP 66.539
Solocal Group           10.526  3/15/2025  EUR 31.572
Vodafone Group PLC       3.375   8/8/2049  GBP 63.261
ABN AMRO Bank NV         0.625  1/24/2037  EUR 69.960
TMK OAO Via TMK Capital  4.300  2/12/2027  USD 65.144
Alfa Bank AO Via Alfa B  6.950             USD  5.641
Island Offshore Shiphol  9.630  6/30/2024  NOK 45.352
TotalEnergies Capital I  1.618  5/18/2040  EUR 71.598
Ukraine Government Bond 15.500  10/2/2024  UAH 68.839
Magnolia Bostad AB      11.784  5/19/2026  SEK 70.033
Libra Longhurst Group T  3.250  5/15/2043  GBP 68.411
Aroundtown SA            2.912  9/20/2030  EUR 63.931
Motability Operations G  1.500  1/20/2041  GBP 56.340
Free State of Bavaria    0.010  1/18/2035  EUR 69.626
Orange SA                0.750  6/29/2034  EUR 73.339
Free State of Saxony     0.010 12/17/2035  EUR 67.026
Aegon Bank NV            0.375   6/9/2036  EUR 68.272
Rallye SA                3.400  2/28/2032  EUR  0.131
Ukraine Government Inte 15.840  2/26/2025  UAH 71.966
GTLK Europe Capital DAC  4.349  2/27/2029  USD 20.824
Platform HG Financing P  1.625  8/10/2055  GBP 43.250
NRW Bank                 1.250  3/21/2044  EUR 68.893
Lithuania Government Bo  0.300  2/12/2032  EUR 71.770
South Eastern Power Net  1.750  9/30/2034  GBP 67.731
Russian Federal Bond -   5.900  3/12/2031  RUB 74.826
Vonovia Finance BV       1.125  9/14/2034  EUR 64.570
JSM Global Sarl          4.750 10/20/2030  USD 17.250
BNG Bank NV              0.805  6/28/2049  EUR 53.627
Ukraine Government Bond 19.750  7/22/2026  UAH 72.201
National Grid Electrici  2.000  4/17/2040  GBP 58.645
Sibur Securities DAC     2.950   7/8/2025  USD 65.418
Novolipetsk Steel Via S  1.450   6/2/2026  EUR 69.463
EYEMAXX Real Estate AG   5.500  7/22/2025  EUR 18.958
Dexia Credit Local SA    5.528             EUR  2.351
Russian Foreign Bond -   4.250  6/23/2027  USD 52.120
United Utilities Water   0.875 10/28/2029  GBP 74.219
VTR Finance NV           6.375  7/15/2028  USD 43.156
Allied Irish Banks PLC  12.500  6/25/2035  GBP 58.058
Tele Columbus AG         3.875   5/2/2025  EUR 65.000
Nordea Kredit Realkredi  1.000  10/1/2053  DKK 65.873
EWE AG                   0.375 10/22/2032  EUR 72.385
Nykredit Realkredit AS   0.500  10/1/2053  DKK 65.349
BNG Bank NV              0.250 11/22/2036  EUR 66.507
Nationwide Building Soc  0.500   5/5/2041  EUR 60.299
State of North Rhine-We  1.750 10/26/2057  EUR 66.366
R-Logitech Finance SA   10.250  9/26/2027  EUR 30.253
Zurich Finance Ireland   1.625  6/17/2039  EUR 72.689
Diageo Finance PLC       2.750   6/8/2038  GBP 72.365
Cellnex Finance Co SA    3.875   7/7/2041  USD 69.629
WPP Finance 2013         2.875  9/14/2046  GBP 57.050
Nationale-Nederlanden B  0.050 11/12/2040  EUR 55.890
Orange SA                1.375   9/4/2049  EUR 64.027
Talanx AG                1.750  12/1/2042  EUR 74.800
HOWOGE Wohnungsbaugesel  1.125  11/1/2033  EUR 71.978
Becton Dickinson Euro F  1.336  8/13/2041  EUR 62.071
Ghelamco Invest          4.250  1/21/2027  EUR 71.957
Magnolia Bostad AB      10.670  3/18/2025  SEK 74.244
Societe Generale SA      3.625   3/1/2041  USD 63.054
Prosus NV                4.987  1/19/2052  USD 66.483
Privatbank CJSC Via UK  10.250  1/23/2018  USD  3.392
Ukraine Government Inte  7.750   8/1/2041  USD 46.586
Scottish Hydro Electric  2.125  3/24/2036  GBP 67.165
Russian Foreign Bond -   4.375  3/21/2029  USD 48.313
Deutsche Bahn Finance G  0.625  4/15/2036  EUR 69.385
Russian Federal Bond -   7.000  7/30/2036  RUB 72.515
Unibail-Rodamco-Westfie  0.875  3/29/2032  EUR 72.433
Investor AB              0.375 10/29/2035  EUR 66.396
Snam SpA                 1.000  9/12/2034  EUR 71.855
Clarion Funding PLC      3.125  4/19/2048  GBP 64.327
Samhallsbyggnadsbolaget  3.000   4/3/2040  EUR 46.464
Severn Trent Utilities   2.000   6/2/2040  GBP 57.729
Nordea Kredit Realkredi  1.000  10/1/2050  DKK 67.256
Land Thueringen          0.125  1/13/2051  EUR 41.666
Realkredit Danmark A/S   1.000  10/1/2053  DKK 65.783
Andorra International B  1.700 10/13/2041  EUR 64.019
La Poste SA              0.625  1/18/2036  EUR 67.502
Novo Banco SA/Luxembour  3.500  2/19/2043  EUR 73.383
Sovcombank Via SovCom C  8.000   4/7/2030  USD  6.581
Operateur de Reseaux d'  2.850   2/3/2045  EUR 73.860
CNP Assurances SACA      1.875 10/12/2053  EUR 71.587
3i Group PLC             3.750   6/5/2040  GBP 71.037
Air Berlin PLC           5.625   5/9/2019  CHF  0.408
Nostrum Oil & Gas Finan  7.000  2/16/2025  USD 25.375
Ukraine Government Inte  7.253  3/15/2035  USD 27.625
Region Wallonne Belgium  1.050  6/22/2040  EUR 64.909
Genfit SA                3.500 10/16/2025  EUR 25.209
BAWAG PSK Bank fuer Arb  0.010 11/19/2035  EUR 64.593
Realkredit Danmark A/S   1.000  10/1/2050  DKK 67.095
Intesa Sanpaolo SpA      2.625  3/11/2036  GBP 64.776
Royal Schiphol Group NV  0.750  4/22/2033  EUR 74.856
NPC Ukrenergo            6.875  11/9/2028  USD 28.053
Terragon AG              6.500  5/24/2024  EUR  1.239
Deutsche Bahn Finance G  1.125  5/29/2051  EUR 56.170
Vonovia Finance BV       1.000  1/28/2041  EUR 50.832
SES SA                   5.300   4/4/2043  USD 68.678
State of North Rhine-We  1.450  2/16/2043  EUR 71.395
Republic of Belarus Int  6.875  2/28/2023  USD 38.194
Prologis International   0.750  3/23/2033  EUR 68.688
Landwirtschaftliche Ren  0.625 10/31/2036  EUR 71.788
TotalEnergies Capital I  2.986  6/29/2041  USD 71.793
OGX Austria GmbH         8.500   6/1/2018  USD  0.019
Gecina SA                0.875  6/30/2036  EUR 66.462
Petrobras Global Financ  4.500   2/4/2033  EUR 64.894
Nationale-Nederlanden B  0.050  9/24/2035  EUR 66.455
RL Finance Bonds NO 4 P  4.875  10/7/2049  GBP 73.363
British Telecommunicati  3.625 11/21/2047  GBP 67.913
Lehman Brothers UK Capi  5.750             EUR  7.000
Herens Midco Sarl        5.250  5/15/2029  EUR 53.250
Republic of Croatia FX   1.000 11/27/2034  EUR 72.446
Canary Wharf Group Inve  3.375  4/23/2028  GBP 63.125
Argenta Spaarbank NV     0.500  10/8/2041  EUR 59.234
Allianz Finance II BV    0.500 11/22/2033  EUR 73.764
Realkredit Danmark A/S   1.000  10/1/2053  DKK 59.624
BNG Bank NV              1.980  4/19/2040  SEK 73.740
Espirito Santo Financia  6.875 10/21/2019  EUR  0.104
Enel Finance Internatio  1.250  1/17/2035  EUR 73.017
DSV Finance BV           0.875  9/17/2036  EUR 68.084
Motability Operations G  2.125  1/18/2042  GBP 61.201
Coventry Building Socie  2.000 12/20/2030  GBP 74.294
BPCE SA                  2.285  12/3/2035  AUD 60.167
Ramfort GmbH             6.750  3/15/2026  EUR 62.834
Bilt Paper BV           10.360             USD  1.313
Engie SA                 1.000 10/26/2036  EUR 68.488
Altice France SA/France  5.125  1/15/2029  USD 69.808
Nykredit Realkredit AS   1.500  10/1/2053  DKK 65.041
Saltaire Finance PLC     1.527 11/23/2051  GBP 47.242
Societe Du Grand Paris   1.625   4/8/2042  EUR 70.456
European Financial Stab  0.700  1/20/2050  EUR 53.093
Kommunekredit            0.010   5/4/2034  EUR 70.557
A2A SpA                  1.000  11/2/2033  EUR 71.583
Nordea Kredit Realkredi  1.000  10/1/2053  DKK 70.916
Global Ports Finance PL  6.500  9/22/2023  USD 44.602
Linde PLC                1.000  9/30/2051  EUR 52.570
Ukraine Government Bond 19.500  1/15/2025  UAH 70.781
Lehman Brothers UK Capi  6.900             USD  3.986
Ukraine Government Inte  7.750   9/1/2026  USD 29.587
Hannover Rueck SE        1.375  6/30/2042  EUR 73.644
Credit Mutuel Arkea SA   0.875  3/11/2033  EUR 73.586
Annington Funding PLC    2.308  10/6/2032  GBP 70.808
Nordea Kredit Realkredi  1.500  10/1/2053  DKK 74.915
Equinor ASA              3.250 11/18/2049  USD 69.831
Eurovita SpA             6.000 12/22/2025  EUR 54.639
Altice Financing SA      5.750  8/15/2029  USD 74.519
Eversholt Funding PLC    3.529   8/7/2042  GBP 71.133
Debenhams PLC            5.250  7/15/2021  GBP  0.529
UkrLandFarming PLC      10.875  3/26/2018  USD  2.430
Altice France Holding S  4.000  2/15/2028  EUR 38.708
Nostrum Oil & Gas Finan  8.000  7/25/2022  USD 25.546
Rallye SA                5.250  2/28/2032  EUR  0.096
Cooperatieve Rabobank U  0.010 11/27/2040  EUR 55.160
TenneT Holding BV        1.500   6/3/2039  EUR 73.386
Novo Banco SA/Luxembour  3.500   1/2/2043  EUR 73.384
BP Capital Markets PLC   1.104 11/15/2034  EUR 72.143
Chancellor Masters & Sc  2.350  6/27/2078  GBP 55.202
Cadent Finance PLC       2.250 10/10/2035  GBP 66.943
CCEP Finance Ireland DA  1.500   5/6/2041  EUR 68.246
National Grid Electrici  1.750   9/9/2031  GBP 73.877
European Financial Stab  2.000  2/28/2056  EUR 71.993
Clariane SE              3.350  6/29/2028  EUR 70.279
Traton Finance Luxembou  1.250  3/24/2033  EUR 74.232
National Gas Transmissi  1.125  1/14/2033  GBP 64.397
Southern Gas Networks P  3.100  9/15/2036  GBP 71.832
Societe Du Grand Paris   1.000  2/18/2070  EUR 38.352
Catalyst Housing Ltd     3.125 10/31/2047  GBP 64.507
Unilever PLC             1.500  6/11/2039  EUR 73.320
DZ Bank AG Deutsche Zen  4.884  7/30/2029  EUR 61.874
Nykredit Realkredit AS   1.000  10/1/2056  DKK 60.700
Jyske Realkredit A/S     1.000  10/1/2050  DKK 67.123
European Financial Stab  1.375  5/31/2047  EUR 67.300
NRW Bank                 0.500  6/17/2041  EUR 61.672
Ukraine Government Bond 19.700   8/6/2025  UAH 74.772
Ukraine Government Bond 12.520  5/13/2026  UAH 58.821
Ukraine Government Inte  7.750   9/1/2028  USD 29.627
LEG Immobilien SE        1.625 11/28/2034  EUR 68.802
Gazprom PJSC via Gaz Fi  4.599             USD 62.000
Severn Trent Utilities   0.010 12/16/2055  GBP 41.156
AI Candelaria Spain SA   5.750  6/15/2033  USD 72.271
TotalEnergies Capital I  3.461  7/12/2049  USD 73.167
Tinkoff Bank JSC Via TC  6.000             USD 48.864
Transcapitalbank JSC Vi 10.000             USD 15.998
Sanctuary Capital PLC    2.375  4/14/2050  GBP 55.655
ICADE                    0.625  1/18/2031  EUR 73.262
Unibail-Rodamco-Westfie  2.250  5/14/2038  EUR 73.978
Hellas Telecommunicatio  6.054  1/15/2015  USD  0.012
Anchor Hanover Group     2.000  7/21/2051  GBP 50.643
Close Brothers Finance   1.625  12/3/2030  GBP 69.333
Credit Bank of Moscow V  7.121  6/25/2024  USD 23.882
Region de Bruxelles-Cap  1.121  5/11/2071  EUR 41.266
Linde PLC                0.375  9/30/2033  EUR 72.270
Nederlandse Waterschaps  0.500  4/26/2051  EUR 47.728
Annington Funding PLC    3.935  7/12/2047  GBP 69.308
Deutsche Bahn Finance G  0.750  7/16/2035  EUR 72.344
Realkredit Danmark A/S   1.500  10/1/2053  DKK 70.347
City of Lausanne Switze  0.540  11/6/2062  CHF 64.646
RTE Reseau de Transport  1.125   9/9/2049  EUR 58.153
Air Liquide Finance SA   0.375  9/20/2033  EUR 72.906
Vonovia Finance BV       2.750  3/22/2038  EUR 72.423
Wendel SE                1.375  1/18/2034  EUR 72.681
Thames Water Utilities   2.625  1/24/2032  GBP 74.703
European Financial Stab  0.050  1/18/2052  EUR 39.336
State of North Rhine-We  0.600   6/4/2041  EUR 62.116
Thomas Cook Finance 2 P  3.875  7/15/2023  EUR  0.659
Jigsaw Funding PLC       3.375   5/5/2052  GBP 69.924
Utmost Group PLC         6.125             GBP 72.708
Clarion Funding PLC      1.875  1/22/2035  GBP 67.043
Cooperatieve Rabobank U  0.625  2/25/2033  EUR 74.285
Yorkshire Water Finance  1.750 10/27/2032  GBP 69.461
Nykredit Realkredit AS   1.500  10/1/2050  DKK 72.773
TotalEnergies Capital I  1.405   9/3/2031  GBP 74.148
University of Leeds      3.125 12/19/2050  GBP 69.657
Soc Nationale SNCF SACA  1.000  5/25/2040  EUR 64.078
Havila Shipping ASA      8.870   1/2/2025  NOK 42.802
Accent Capital PLC       2.625  7/18/2049  GBP 60.340
London & Quadrant Housi  2.000  3/31/2032  GBP 74.135
European Financial Stab  1.750  7/17/2053  EUR 68.352
Medtronic Global Holdin  1.500   7/2/2039  EUR 69.067
Nestle Finance Internat  0.375  12/3/2040  EUR 60.480
European Financial Stab  1.800  7/10/2048  EUR 72.382
Vnesheconombank Via VEB  6.800 11/22/2025  USD  6.507
SES SA                   5.300   4/4/2043  USD 68.678
Kommunekredit            0.500  6/19/2039  DKK 63.065
Standard Chartered PLC   4.750             USD 74.130
Abengoa Abenewco 2 SA    1.500 10/26/2024  USD  1.423
Diageo Finance PLC       1.250  3/28/2033  GBP 70.375
STERIS Irish FinCo UnLt  3.750  3/15/2051  USD 71.667
Credit Agricole SA       2.811  1/11/2041  USD 64.404
Eastern Power Networks   2.125 11/25/2033  GBP 72.098
Gecci Investment KG      5.750   8/1/2025  EUR  7.436
Ukraine Government Inte  6.750  6/20/2028  EUR 26.897
Agence Francaise de Dev  1.125   3/2/2037  EUR 72.957
UNEDIC ASSEO             0.100  5/25/2034  EUR 71.182
Becton Dickinson Euro F  1.213  2/12/2036  EUR 70.753
United Utilities Water   0.010  7/27/2040  GBP 62.763
Bourbon Corp            11.652             EUR  0.936
Avanti Communications G  9.000  10/1/2022  USD 14.250
Alfa Bank AO Via Alfa B  5.500 10/26/2031  USD  0.617
Bulgaria Government Bon  0.100  8/17/2031  BGN 70.781
Unibail-Rodamco-Westfie  1.375  5/25/2033  EUR 74.280
Flagship Finance PLC     1.875  7/14/2061  GBP 46.012
Optivo Finance PLC       3.283  3/22/2048  GBP 65.756
Kreditanstalt fuer Wied  0.375  5/20/2036  EUR 70.325
TenneT Holding BV        1.125   6/9/2041  EUR 69.434
Russian Foreign Bond -   5.100  3/28/2035  USD 35.466
Bank Gospodarstwa Krajo  2.000  11/3/2036  EUR 70.960
Annington Funding PLC    2.924  10/6/2051  GBP 54.040
Realkredit Danmark A/S   1.500  10/1/2053  DKK 74.846
Kairos Global Solutions  1.900   7/3/2035  USD 74.107
Engie SA                 1.250 10/24/2041  EUR 62.214
Saleza AS                9.000  7/12/2021  EUR  0.203
Realkredit Danmark A/S   1.000  10/1/2053  DKK 70.651
Logicor Financing Sarl   2.750  1/15/2030  GBP 74.567
Clarion Funding PLC      1.250 11/13/2032  GBP 68.148
City of Lausanne Switze  0.050  9/28/2054  CHF 58.514
Region de Bruxelles-Cap  1.500  6/22/2070  EUR 48.849
National Grid Electrici  2.750   2/6/2035  GBP 73.221
Cyprus Government Inter  1.250  1/21/2040  EUR 64.972
B2W Digital Lux Sarl     4.375 12/20/2030  USD 17.250
Hera SpA                 1.000  4/25/2034  EUR 72.057
Diebold Nixdorf Dutch H  9.000  7/15/2025  EUR  7.618
University of Southampt  2.250  4/11/2057  GBP 52.993
EYEMAXX Real Estate AG   5.500  9/24/2024  EUR  1.656
NRW Bank                 1.200  3/28/2039  EUR 73.096
Sage Group PLC/The       1.625  2/25/2031  GBP 74.608
University College Lond  1.625   6/4/2061  GBP 45.670
CRC Breeze Finance SA    6.110   5/8/2026  EUR 74.417
DWR Cymru Financing UK   2.500  3/31/2036  GBP 71.553
UniCredit Bank Austria   0.050  9/21/2035  EUR 66.234
Yandex NV                0.750  9/13/2022  USD 69.375
Beyond Housing Ltd       2.125  5/17/2051  GBP 52.848
DZ Bank AG Deutsche Zen  4.800  6/26/2029  EUR 65.355
ING-DiBa AG              1.000  5/23/2039  EUR 69.871
British Telecommunicati  1.774  6/25/2042  GBP 71.892
Bausparkasse Schwaebisc  0.200  4/27/2033  EUR 74.157
Ukraine Government Inte  7.750   9/1/2025  USD 33.114
Banco Espirito Santo SA  7.125 11/28/2023  EUR  0.397
Nykredit Realkredit AS   0.500  10/1/2050  DKK 64.200
Land Baden-Wuerttemberg  0.125 11/19/2040  EUR 57.516
Yuksel Insaat AS         9.500 11/10/2015  USD  0.500
City of Lausanne Switze  0.230  11/1/2060  CHF 57.897
SCF Capital Designated   5.375  6/16/2023  USD 73.043
Autonomous Community of  0.700  7/30/2033  EUR 74.205
VEON Holdings BV         3.375 11/25/2027  USD 69.401
State of Schleswig-Hols  0.200  8/15/2039  EUR 60.988
Nykredit Realkredit AS   0.500  10/1/2050  DKK 67.423
Canton of Zurich         0.100  6/23/2045  CHF 73.633
Siemens Financieringsma  3.300  9/15/2046  USD 72.993
Russian Foreign Bond -   2.875  12/4/2025  EUR 62.542
Barclays Bank PLC        3.967 12/28/2040  EUR 73.623
Master & Fellows of Uni  3.068  4/28/2065  GBP 56.250
SCOR SE                  1.375  9/17/2051  EUR 73.005
Southern Housing         3.500 10/19/2047  GBP 67.604
Guinness Partnership Lt  2.000  4/22/2055  GBP 47.281
Ukraine Government Inte  7.375  9/25/2034  USD 27.752
Societe Du Grand Paris   0.875  5/10/2046  EUR 55.262
City of Bern Switzerlan  0.040  10/2/2070  CHF 52.503
Havila Shipping ASA      8.120   1/2/2025  NOK 39.054
BAWAG PSK Bank fuer Arb  0.375  3/25/2041  EUR 58.252
Cooperatieve Rabobank U  0.500  7/30/2043  MXN 14.793
Hyde Housing Associatio  1.750  8/18/2055  GBP 44.249
Kuntarahoitus Oyj        0.050  9/10/2035  EUR 68.166
Gecci Investment KG      6.000  10/1/2027  EUR  3.962
Nykredit Realkredit AS   0.500  10/1/2043  DKK 74.923
Telenor ASA              0.875  2/14/2035  EUR 71.927
BPCE SA                  3.582 10/19/2042  USD 63.807
Heimstaden Bostad AB     2.800   5/4/2035  EUR 55.274
Aeroports de Paris       1.125  6/18/2034  EUR 74.867
Deutsche Bahn Finance G  0.875  6/23/2039  EUR 67.147
Iren SpA                 0.250  1/17/2031  EUR 74.177
Jyske Realkredit A/S     1.500  10/1/2050  DKK 72.754
Salerno Pompei Napoli S  2.800  1/19/2045  EUR 66.320
WD Invest Sarl           1.900  10/2/2024  EUR 11.952
Orpea SA                 2.130   7/3/2024  EUR 27.776
AOC I Die Stadtentwickl  7.500   4/8/2027  EUR 49.015
Avangardco Investments  10.000 10/29/2018  USD  0.103
Ukraine Government Inte  7.750   9/1/2027  USD 29.184
Ministeries Van de Vlaa  0.875  3/21/2046  EUR 56.200
State of Rhineland-Pala  0.375   4/1/2041  EUR 60.014
EDOB Abwicklungs AG      7.500   4/1/2012  EUR  1.537
Agence Francaise de Dev  0.500  5/31/2035  EUR 71.023
Cooperatieve Rabobank U  1.000  1/19/2034  EUR 74.802
Rhaetische Bahn AG RHB   0.050   8/3/2050  CHF 67.218
Orpea SA                 2.750   6/3/2033  EUR 28.238
DH Europe Finance II Sa  1.800  9/18/2049  EUR 64.411
Commune de Marseille     0.509 12/17/2041  EUR 56.878
Telefonica Emisiones SA  1.864  7/13/2040  EUR 71.286
Intesa Sanpaolo SpA      2.100 11/13/2030  USD 71.707
Paragon Treasury Plc     2.000   5/7/2036  GBP 64.473
de Volksbank NV          0.125 11/19/2040  EUR 56.148
Cardiff University       3.000  12/7/2055  GBP 65.412
New World Resources NV   4.000  10/7/2020  EUR  0.369
OGX Austria GmbH         8.375   4/1/2022  USD  0.067
Ministeries Van de Vlaa  1.500  4/11/2044  EUR 67.548
New World Resources NV   8.000   4/7/2020  EUR  0.105
DSV Finance BV           0.750   7/5/2033  EUR 74.817
Volkswagen Internationa  1.500  1/21/2041  EUR 62.800
Cooperatieve Rabobank U  0.500 10/29/2027  MXN 65.117
Aroundtown SA            4.750  3/27/2032  USD 64.355
Credit Bank of Moscow V  5.550  2/14/2023  USD 22.712
InterCement Financial O  5.750  7/17/2024  USD 66.997
Ukraine Government Bond 19.750  11/5/2025  UAH 74.417
Lithuania Government In  1.625  6/19/2049  EUR 61.927
Stichting Afwikkeling O  6.250 10/26/2020  EUR 43.625
European Primary Placem  1.732  11/9/2055  GBP 45.929
National Gas Transmissi  1.625  1/14/2043  GBP 48.999
Societe Du Grand Paris   1.000 11/26/2051  EUR 50.286
Alno AG                  8.500  5/14/2018  EUR 17.305
Canton of Geneva Switze  0.500 10/31/2056  CHF 72.259
Peabody Capital No 2 Pl  3.250  9/14/2048  GBP 65.397
Ukraine Government Inte  7.750   9/1/2024  USD 33.818
Raiffeisen-Landesbank S  0.500  5/27/2041  EUR 59.127
United Utilities Water   2.000   7/3/2033  GBP 71.650
Nordea Kredit Realkredi  1.500  10/1/2053  DKK 65.041
TotalEnergies Capital I  1.535  5/31/2039  EUR 73.308
Omnicom Capital Holding  2.250 11/22/2033  GBP 72.331
Alitalia-Societa Aerea   5.250  7/30/2020  EUR  0.221
Virgolino de Oliveira F 10.500  1/28/2018  USD  0.010
Virgolino de Oliveira F 11.750   2/9/2022  USD  0.628
Caisse Francaise de Fin  0.500  10/1/2046  EUR 52.818
Croatia Government Bond  1.250   3/3/2040  EUR 64.961
BPCE SA                  2.315 11/19/2035  AUD 60.502
Land Berlin              0.050   8/6/2040  EUR 56.802
Prosus NV                4.027   8/3/2050  USD 58.743
Anglo American Capital   3.950  9/10/2050  USD 71.055
Yorkshire Water Service  1.462   8/1/2051  GBP 70.236
Sidetur Finance BV      10.000  4/20/2016  USD  0.751
Celtic Resources Holdin  4.125  10/9/2024  USD 14.527
Solarworld AG            9.691  2/24/2019  EUR 14.875
National Gas Transmissi  1.375   2/7/2031  GBP 71.883
O1 Properties Finance P  0.500  9/27/2028  USD  5.823
Intesa Sanpaolo SpA      4.375  1/12/2048  USD 67.810
Investor AB              1.500  6/20/2039  EUR 69.895
OGX Austria GmbH         8.375   4/1/2022  USD  0.067
Deutsche Bahn Finance G  3.350  1/20/2042  AUD 71.429
Swan Housing Capital pl  3.625   3/5/2048  GBP 70.795
Bunzl Finance PLC        1.500 10/30/2030  GBP 74.289
Zurich Finance Ireland   1.600 12/17/2052  EUR 71.759
London & Quadrant Housi  2.000 10/20/2038  GBP 61.086
States of Guernsey Bond  3.375 12/12/2046  GBP 73.333
Northern Powergrid Nort  1.875  6/16/2062  GBP 44.853
Unibail-Rodamco-Westfie  1.750   7/1/2049  EUR 57.401
Shell International Fin  3.125  11/7/2049  USD 67.967
Jyske Realkredit A/S     1.000  10/1/2053  DKK 65.824
Caisse des Depots et Co  1.552  8/16/2038  EUR 72.558
Saltaire Finance PLC     2.711   5/9/2052  GBP 63.999
Electricite de France S  4.990 10/21/2056  USD 74.514
Northern Powergrid York  2.250  10/9/2059  GBP 49.896
Ukraine Government Inte  9.750  11/1/2030  USD 29.833
Autonomous Community of  1.255 10/31/2048  EUR 52.915
National Grid Electrici  1.625  10/7/2035  GBP 63.440
Kommunekredit            0.125  9/26/2040  EUR 57.630
Heimstaden Bostad AB     2.800   5/4/2035  EUR 54.047
Land Securities Capital  2.625  9/22/2037  GBP 69.823
Bayerische Landesbank    1.550  2/13/2040  EUR 48.631
Grand City Properties S  3.432   8/8/2034  EUR 73.061
Deutsche Wohnen SE       0.500   4/7/2031  EUR 74.458
Raiffeisenlandesbank Ob  0.500  1/22/2035  EUR 71.276
Gazprom PJSC Via Gaz Ca  4.950   2/6/2028  USD 74.924
Deutsche Bank AG/London 13.750  6/20/2026  TRY 14.872
Nederlandse Waterschaps  0.877  6/24/2054  EUR 49.749
Prologis International   3.000  2/22/2042  GBP 66.294
Cooperatieve Rabobank U  0.500 10/30/2043  MXN 12.023
Vedanta Resources Finan  9.250  4/23/2026  USD 60.939
Northern Powergrid Nort  3.250   4/1/2052  GBP 66.794
Altice France SA/France  4.250 10/15/2029  EUR 69.244
Community Finance Co 1   0.339  12/1/2040  GBP 74.124
Communaute Francaise de  2.300  4/25/2089  EUR 67.068
Covivio SA/France        0.875  1/20/2033  EUR 70.886
Mallinckrodt Internatio 10.000  4/15/2025  USD 11.942
Martlet Homes Ltd        3.000   5/9/2052  GBP 63.423
Privatbank CJSC Via UK  10.875  2/28/2018  USD  7.542
Credit Agricole Corpora  1.550   9/8/2031  AUD 72.579
National Grid Electrici  0.010  3/26/2036  GBP 71.950
Land Berlin              0.125 11/24/2045  EUR 49.064
Citizen Treasury PLC     3.250 10/20/2048  GBP 68.378
Alpine Holding GmbH      5.250   7/1/2015  EUR  0.372
Liquid Telecommunicatio  5.500   9/4/2026  USD 62.936
ABN AMRO Bank NV         1.115   3/3/2042  EUR 66.840
Nykredit Realkredit AS   1.000  10/1/2053  DKK 59.544
FF Group Finance Luxemb  1.750   7/3/2019  EUR  4.909
Credit Bank of Moscow V  7.500  10/5/2027  USD 21.609
BNG Bank NV              0.010  10/5/2032  EUR 74.727
Region de Bruxelles-Cap  0.562 12/23/2065  EUR 28.080
Orpea SA                 3.000 11/25/2041  EUR 27.445
DH Europe Finance II Sa  3.400 11/15/2049  USD 73.496
Manchester Airport Grou  2.875  3/31/2039  GBP 68.006
Elli Finance UK PLC      8.750  6/15/2019  GBP 42.613
Aster Treasury Plc       1.405  1/27/2036  GBP 63.726
Blend Funding PLC        2.922   4/5/2054  GBP 59.992
Deutsche Wohnen SE       1.300   4/7/2041  EUR 58.858
LSF9 Balta Issuer SARL   3.000 12/31/2030  EUR 63.817
Nordea Kredit Realkredi  1.500  10/1/2053  DKK 70.389
Assura Financing PLC     1.500  9/15/2030  GBP 73.520
Banca Popolare di Vicen  2.821 12/20/2017  EUR  0.396
National Grid Electrici  1.657  7/28/2056  GBP 74.262
BPCE SA                  2.614   3/4/2036  AUD 62.481
Russian Foreign Bond -   4.750  5/27/2026  USD 55.840
Senivita Social Estate   6.500  5/12/2025  EUR  2.410
ESFIL-Espirito Santo Fi  5.250  6/12/2015  EUR  0.172
Ukraine Government Bond 19.600   4/2/2025  UAH 71.372
Nordea Kredit Realkredi  2.000  10/1/2053  DKK 72.516
Societe Generale SA     10.000  6/28/2034  USD 66.230
Banco Espirito Santo SA  6.438             EUR  1.335
Aktia Bank Oyj           0.800  2/26/2036  EUR 64.404
Deutsche Bahn Finance G  1.375  4/16/2040  EUR 70.996
City of Lugano Switzerl  0.150 11/28/2070  CHF 50.801
BPCE SA                  3.582 10/19/2042  USD 63.862
Societe Du Grand Paris   0.300   9/2/2036  EUR 65.330
Eastern Power Networks   1.875   6/1/2035  GBP 67.301
Ministeries Van de Vlaa  0.125 10/15/2035  EUR 66.130
Ile-de-France Mobilites  1.275  2/14/2042  EUR 66.553
Caisse Francaise de Fin  0.125  2/15/2036  EUR 65.779
Pershing Square Holding  4.950  7/15/2039  USD 72.089
Assistance Publique Hop  1.750 11/27/2041  EUR 72.793
Bromford Housing Group   2.554  3/17/2054  GBP 54.620
Swissgrid AG             0.050  6/30/2050  CHF 56.974
MMK International Capit  4.375  6/13/2024  USD 27.930
Nestle Hungaria Kft      1.750  5/31/2028  HUF 74.500
Nordea Kredit Realkredi  1.500  10/1/2050  DKK 72.812
Pentracor GmbH           8.500  5/29/2025  EUR  2.601
Canary Wharf Group Inve  1.750   4/7/2026  EUR 69.533
Espirito Santo Financia  3.125  12/2/2018  EUR  0.760
Church Commissioners fo  3.625  7/14/2052  GBP 73.155
Segro PLC                2.875 10/11/2037  GBP 70.155
Tennor Finance BV        5.750  6/17/2024  EUR 65.000
Credit Agricole Italia   0.125  3/15/2033  EUR 70.335
European Financial Stab  1.200  2/17/2045  EUR 66.790
Nykredit Realkredit AS   0.500  10/1/2053  DKK 62.032
BNG Bank NV              0.875 10/24/2036  EUR 73.749
NRW Bank                 0.100   7/9/2035  EUR 68.519
Barclays Bank PLC        0.500  1/28/2033  MXN 40.466
Societe Du Grand Paris   1.700  5/25/2050  EUR 64.160
La Poste SA              1.000  9/17/2034  EUR 74.193
A2A SpA                  0.625 10/28/2032  EUR 72.026
Italgas SpA              0.500  2/16/2033  EUR 71.069
Jyske Realkredit A/S     2.000  10/1/2053  DKK 72.295
Pro-Gest SpA             3.250 12/15/2024  EUR 70.938
Telefonica Emisiones SA  1.957   7/1/2039  EUR 73.939
ABN AMRO Bank NV         0.400  9/17/2041  EUR 58.530
Hacienda Investments Lt  5.350   2/8/2028  USD 58.116
Metalloinvest Finance D  3.375 10/22/2028  USD 54.088
Deutsche Lichtmiete AG   5.750  12/1/2023  EUR  1.703
Transports Publics Du C  0.450 12/29/2056  CHF 64.725
Ukraine Government Inte  4.375  1/27/2032  EUR 24.774
Caisse Francaise de Fin  0.375  2/13/2040  EUR 60.315
Gol Finance SA           7.000  1/31/2025  USD 59.903
Altice France SA/France  3.375  1/15/2028  EUR 69.964
Beno Holding AG          5.300 11/29/2027  EUR 69.577
Region de Bruxelles-Cap  0.444  3/19/2057  EUR 33.026
Novo Banco SA/Luxembour  3.500  3/18/2043  EUR 73.117
Credit Suisse AG/London  9.000  4/22/2024  USD 30.000
Wrekin Housing Group Lt  2.500 10/22/2048  GBP 57.159
Thames Water Utilities   2.442  5/12/2050  GBP 45.039
Communaute Francaise de  0.625  6/11/2035  EUR 70.545
Volkswagen Internationa  3.500   4/2/2043  EUR 74.603
Espirito Santo Financia  9.750 12/19/2025  EUR  0.759
Muenchener Hypothekenba  1.000  4/18/2039  EUR 70.792
Virgolino de Oliveira F 10.500  1/28/2018  USD  0.641
Banca Popolare di Vicen  9.500  9/29/2025  EUR  0.380
State of North Rhine-We  0.500  1/15/2052  EUR 47.602
University of Liverpool  3.375  6/25/2055  GBP 71.433
Coruripe Netherlands BV 10.000  2/10/2027  USD 73.217
Borets Finance DAC       6.000  9/17/2026  USD 48.771
Free and Hanseatic City  0.200   9/3/2049  EUR 45.126
Wales & West Utilities   1.875  5/28/2041  GBP 56.815
MHP SE                   7.750  5/10/2024  USD 67.960
Offshore Drilling Holdi  8.375  9/20/2020  USD  1.040
Scottish Hydro Electric  2.250  9/27/2035  GBP 69.607
Platform HG Financing P  1.926  9/15/2041  GBP 60.125
Region Provence-Alpes-C  1.460  10/3/2036  EUR 74.793
Thames Water Utilities   1.760  8/28/2062  GBP 63.181
Sovereign Housing Capit  2.375  11/4/2048  GBP 56.792
Caisse des Depots et Co  1.930   3/6/2048  EUR 68.161
Realkredit Danmark A/S   2.000  10/1/2053  DKK 72.278
Cooperatieve Rabobank U  0.500  1/31/2033  MXN 37.847
Societa di Progetto Bre  3.375 12/31/2038  EUR 71.908
RTE Reseau de Transport  1.125   7/8/2040  EUR 66.788
Ukraine Government Inte  8.994   2/1/2026  USD 30.346
Gazprom PJSC via Gaz Fi  1.850 11/17/2028  EUR 60.133
WM Morrison Supermarket  2.500  10/1/2031  GBP 36.713
Gazprom PJSC via Gaz Fi  3.897             EUR 60.317
Nationale-Nederlanden B  0.375   3/4/2041  EUR 59.041
Muenchener Hypothekenba  0.010 10/19/2039  EUR 57.609
Haya Holdco 2 PLC       12.462 11/30/2025  EUR 38.536
Jyske Realkredit A/S     1.500  10/1/2053  DKK 70.353
Autonomous Community of  2.300  5/24/2049  EUR 67.922
National Grid Electrici  2.000  9/16/2038  GBP 60.669
Republic of Ireland Int  1.425  9/18/2119  EUR 48.306
Autoroute de Liaison Se  2.485  7/31/2046  EUR 74.941
NAK Naftogaz Ukraine vi  7.625  11/8/2026  USD 40.086
Malta Government Bond    1.000  8/23/2035  EUR 72.250
Deutsche Lichtmiete AG   5.250   2/1/2027  EUR  0.850
Berner Kantonalbank AG   0.100  9/30/2039  CHF 72.997
Realkredit Danmark A/S   1.500  10/1/2053  DKK 65.010
Fresnillo PLC            4.250  10/2/2050  USD 72.770
Serbia International Bo  2.050  9/23/2036  EUR 62.127
Prs Finance PLC          1.500  8/24/2034  GBP 70.264
State of Hesse           0.750   8/4/2036  EUR 73.041
Deutsche Lichtmiete AG   5.250   9/1/2025  EUR  0.626
Romanian Government Int  2.000  4/14/2033  EUR 70.257
City of Lausanne Switze  0.680  3/11/2058  CHF 71.636
Transport for London     3.625  5/15/2045  GBP 74.616
Blend Funding PLC        3.508   5/4/2057  GBP 66.639
LiveWest Treasury PLC    1.875  2/18/2056  GBP 46.250
Holcim US Finance Luxem  2.240 10/15/2031  USD 74.551
SNCF Reseau              2.250 12/20/2047  EUR 73.827
Bayerische Landesbank    2.020 10/14/2030  EUR 74.988
Nordea Kredit Realkredi  0.500  10/1/2050  DKK 67.490
DWR Cymru Financing UK   1.375  3/31/2033  GBP 68.847
Region Wallonne Belgium  0.650  1/16/2051  EUR 45.273
Muenchener Hypothekenba  0.250  3/29/2041  CHF 74.902
Intesa Sanpaolo SpA      1.400   2/8/2031  GBP 67.318
Sovcombank Via SovCom C  7.750             USD  1.358
Penarian Housing Financ  3.212   6/7/2052  GBP 66.522
London & Quadrant Housi  2.750  7/20/2057  GBP 55.100
Yorkshire Water Service  1.758   2/1/2054  GBP 72.752
Severn Trent Utilities   1.602  9/29/2056  GBP 74.228
Karbon Homes Ltd         3.375 11/15/2047  GBP 71.699
Action Logement Service  0.750  7/19/2041  EUR 60.103
SNCF Reseau              2.000   2/5/2048  EUR 68.982
Commune de Marseille     0.498 12/17/2040  EUR 58.511
de Volksbank NV          0.375  9/16/2041  EUR 57.594
Ministeries Van de Vlaa  1.500  7/12/2038  EUR 74.666
Irish Bank Resolution C  0.566  6/21/2016  EUR  0.679
Caisse Francaise de Fin  0.625  1/20/2042  EUR 60.527
adidas AG                0.625  9/10/2035  EUR 70.630
Region de Bruxelles-Cap  1.100  6/22/2066  EUR 43.297
Abengoa Abenewco 2 SA    1.500 10/26/2024  USD  0.009
Nederlandse Waterschaps  0.125   9/3/2035  EUR 68.180
Credit Suisse AG/London  2.300  9/24/2031  USD 74.384
Ile-de-France Mobilites  0.950  5/28/2041  EUR 63.611
National Grid Electrici  1.541  12/1/2053  GBP 70.705
Lloyds Bank PLC          2.560   9/4/2038  SEK 70.529
Northern Electric Finan  2.750  5/24/2049  GBP 61.823
TechnipFMC PLC           3.750  10/7/2033  EUR 69.893
Norske Skogindustrier A  7.000 12/30/2026  EUR  0.010
Privatbank CJSC Via UK  11.000   2/9/2021  USD  1.000
Jyske Realkredit A/S     1.000  10/1/2053  DKK 70.852
ABN AMRO Bank NV         0.375  1/14/2035  EUR 71.590
Communaute Francaise de  0.626  8/24/2040  EUR 59.696
Waterside Campus Develo  3.302 11/30/2054  GBP 74.010
Ukraine Government Inte  7.750   9/1/2029  USD 29.543
DZ Bank AG Deutsche Zen  1.055  3/11/2031  EUR 70.989
LIB-Landesimmobilien Bu  0.620  7/15/2041  EUR 61.544
Russian Foreign Bond -   5.250  6/23/2047  USD 36.976
Kernel Holding SA        6.750 10/27/2027  USD 59.093
Deutsche Wohnen SE       2.000  3/28/2034  EUR 69.106
City of Lausanne Switze  0.600 11/30/2056  CHF 69.994
Free and Hanseatic City  0.250  2/18/2041  EUR 58.635
Societe Generale SA      2.360  5/25/2031  USD 74.797
Onward Homes Ltd         2.125  3/25/2053  GBP 49.312
Single Platform Investm  3.070  8/15/2041  NOK 70.533
RHP Finance PLC          3.250   2/5/2048  GBP 69.887
Russian Federal Bond -   6.900   2/6/2036  RUB 74.980
Herefordshire Capital P  4.193 11/28/2049  GBP 71.450
Republic of Belarus Int  7.625  6/29/2027  USD 48.924
Atari SA                 6.500  7/31/2026  EUR #N/A N/A
City of Lausanne Switze  0.600   7/6/2050  CHF 74.251
Metinvest BV             7.750 10/17/2029  USD 59.000
Kommunekredit            0.500  7/30/2027  TRY 30.559
Motability Operations G  2.375   7/3/2039  GBP 67.336
Lehman Brothers UK Capi  5.125             EUR 16.125
Lukoil Capital DAC       3.600 10/26/2031  USD 72.284
Banco Santander SA       0.100  2/27/2032  EUR 74.595
Paradigm Homes Charitab  2.250  5/20/2051  GBP 54.201
Orpea SA                 2.000   8/9/2029  EUR 28.240
Luzerner Kantonalbank A  0.150  10/7/2044  CHF 69.315
Electricite de France S  4.650 10/21/2046  USD 74.978
Nordea Kredit Realkredi  1.000  10/1/2053  DKK 59.632
Diebold Nixdorf Dutch H  9.000  7/15/2025  EUR  7.618
Landesbank Saar          0.650 11/19/2035  EUR 64.602
Kreditanstalt fuer Wied  1.000 10/19/2050  EUR 58.321
London & Quadrant Housi  3.750 10/27/2049  GBP 70.510
DWR Cymru Financing UK   2.375  3/31/2034  GBP 68.194
Endo Luxembourg Finance  6.125   4/1/2029  USD 72.250
MHP Lux SA               6.950   4/3/2026  USD 56.904
Region Hauts-de-France   0.402  2/18/2043  EUR 53.117
BAWAG PSK Bank fuer Arb  0.625  6/19/2034  EUR 73.800
British Telecommunicati  3.883  6/25/2039  GBP 71.986
Sovcombank Via SovCom C  7.600             USD  4.035
Sberbank of Russia Via   5.125 10/29/2022  USD 32.618
Stonewater Funding PLC   1.625  9/10/2036  GBP 63.275
Nykredit Realkredit AS   1.000  10/1/2050  DKK 67.090
Intrum AB                3.500  7/15/2026  EUR 74.823
Aroundtown SA            2.970  9/26/2033  EUR 54.275
MS Deutschland Beteilig  6.875 12/18/2017  EUR  0.100
Orbit Capital PLC        3.375  6/14/2048  GBP 67.239
Nostrum Oil & Gas Finan  5.000  6/30/2026  USD 64.576
Lehman Brothers UK Capi  3.875             EUR 18.750
Muenchener Hypothekenba  0.125   9/5/2035  EUR 68.115
Polyus Finance PLC       3.250 10/14/2028  USD 61.664
Incommunities Treasury   3.250  3/21/2049  GBP 69.685
MHP Lux SA               6.250  9/19/2029  USD 53.481
State of North Rhine-We  0.500 11/25/2039  EUR 63.763
Holcim Finance Luxembou  1.375  10/8/2036  EUR 62.433
Kommunekredit            1.375  5/18/2046  SEK 62.890
Ukraine Government Inte 15.840  2/26/2025  UAH 71.966
Ville de Paris           0.450 10/20/2045  EUR 51.086
State of Bremen          0.450  2/24/2051  EUR 47.141
Raiffeisenlandesbank Ob  3.093   6/9/2036  EUR 65.600
Altice France SA/France  4.125  1/15/2029  EUR 69.812
PJSC Koks via IMH Capit  5.900  9/23/2025  USD  8.623
Mondelez International   1.250   9/9/2041  EUR 63.721
LSEGA Financing PLC      3.200   4/6/2041  USD 72.187
Credit Agricole Italia   0.750  1/20/2042  EUR 58.067
State of North Rhine-We  0.375   9/2/2050  EUR 46.412
Aroundtown SA            2.700 10/31/2028  EUR 70.634
Aragvi Finance Internat  8.450  4/29/2026  USD 66.731
Cadent Finance PLC       3.125  3/21/2040  GBP 68.116
Prosus NV                1.985  7/13/2033  EUR 67.889
Intesa Sanpaolo SpA      2.500 10/14/2031  USD 72.233
State of Brandenburg     0.600 10/13/2051  EUR 49.523
PIK Securities DAC       5.625 11/19/2026  USD 44.320
VF Ukraine PAT via VFU   6.200  2/11/2025  USD 74.009
Romanian Government Int  3.375  1/28/2050  EUR 62.228
State of North Rhine-We  0.800  7/30/2049  EUR 55.026
Landeskreditbank Baden-  0.610 11/17/2050  EUR 52.758
Hellas Telecommunicatio  8.500 10/15/2013  EUR  0.140
State of Bremen          0.500   5/6/2041  EUR 60.890
UBS AG/London           11.000   1/8/2024  CHF 20.920
Russian Federal Bond -   0.250  7/20/2044  RUB 15.000
Windreich GmbH           6.500  7/15/2016  EUR  2.780
LiveWest Treasury PLC    2.250 10/10/2043  GBP 60.609
Republic of Ireland Int  0.740 11/27/2120  EUR 27.334
Bank Nadra Via NDR Fina  8.250  7/31/2018  USD  0.208
BAE Systems PLC          3.000  9/15/2050  USD 64.377
Altice France SA/France  4.000  7/15/2029  EUR 69.078
Compact Bidco BV         5.750   5/1/2026  EUR 64.963
Nordea Kredit Realkredi  0.500  10/1/2053  DKK 65.505
Italy Buoni Poliennali   2.800   3/1/2067  EUR 67.845
Kommunekredit            0.875  11/3/2036  EUR 73.409
Bayerische Landesbank    1.820  5/12/2031  EUR 71.700
ING Bank NV              1.000  2/17/2037  EUR 73.692
Notting Hill Genesis     3.250 10/12/2048  GBP 65.012
Metinvest BV             7.650  10/1/2027  USD 61.100
Affinity Water Finance   0.230 11/22/2042  GBP 61.139
DZ Bank AG Deutsche Zen  1.550  6/27/2041  EUR 71.580
Veneto Banca SpA         9.878  12/1/2025  EUR  0.708
BPCE SFH SA              0.375  3/18/2041  EUR 58.651
DZ HYP AG                0.375 11/10/2034  EUR 72.112
MVM Energetika Zrt       3.250   9/3/2031  HUF 70.000
Orbit Capital PLC        2.000 11/24/2038  GBP 60.805
Free State of Bavaria    0.010  3/28/2036  EUR 66.026
London & Quadrant Housi  3.125  2/28/2053  GBP 61.944
GN Store Nord AS         1.970   3/3/2036  EUR 56.916
Action Logement Service  0.500 10/30/2034  EUR 71.605
State of North Rhine-We  0.750  8/16/2041  EUR 63.586
Holcim Sterling Finance  2.250   4/4/2034  GBP 69.338
Metinvest BV             8.500  4/23/2026  USD 66.757
AXA Bank Europe SCF      0.250   6/9/2040  EUR 58.525
Banco Espirito Santo SA  6.618             EUR  0.415
Single Platform Investm  1.448  7/25/2053  EUR 58.989
Espirito Santo Financia  5.050 11/15/2025  EUR  0.759
Russian Foreign Bond -   5.875  9/16/2043  USD 66.416
FNG Benelux Holding NV   5.000  8/28/2023  EUR  1.013
State of Saxony-Anhalt   0.500  3/24/2051  EUR 48.477
AXA Home Loan SFH SA     0.125  6/25/2035  EUR 67.636
Dtek Renewables Finance  8.500 11/12/2024  EUR 51.858
Blend Funding PLC        2.467  6/16/2061  GBP 48.734
State of North Rhine-We  1.550  6/16/2048  EUR 68.984
Deutsche Bank AG         1.580 10/23/2031  EUR 73.872
Gazprom PJSC via Gaz Fi  3.250  2/25/2030  USD 62.217
Engie SA                 1.375  6/21/2039  EUR 66.805
Rena GmbH                7.000 12/15/2015  EUR  0.054
Aktia Bank Oyj           0.500  3/30/2031  EUR 74.152
Signa Development Finan  5.500  7/23/2026  EUR 70.458
CBo Territoria           3.750   7/1/2024  EUR  4.700
Bazalgette Finance Plc   2.750  3/10/2034  GBP 74.931
Autobahnen- und Schnell  0.100  7/16/2035  EUR 69.084
AnaCap Financial Europe  8.725   8/1/2024  EUR 49.324
ESB Finance DAC          1.875  7/21/2035  GBP 67.627
Norske Skogindustrier A  2.000 12/30/2115  EUR  0.367
State of Lower Austria   1.000  9/15/2121  EUR 30.447
Ahtium PLC               4.000 12/16/2015  EUR  0.586
Region Provence-Alpes-C  0.753   1/5/2037  EUR 66.530
Erste Group Bank AG      0.500  1/12/2037  EUR 67.237
Region of Pays de la Lo  0.877 10/28/2041  EUR 61.169
Orbit Capital PLC        3.500  3/24/2045  GBP 70.063
Severstal OAO Via Steel  3.150  9/16/2024  USD  5.485
Hemso Fastighets AB      3.020  9/14/2048  SEK 61.788
Thames Water Utilities   1.771  8/28/2057  GBP 63.512
Housing & Care 21        3.288  11/8/2049  GBP 67.339
NRW Bank                 1.150  9/16/2051  EUR 60.678
Kommunekredit            1.700  6/26/2045  EUR 73.470
Allergan Funding SCS     4.750  3/15/2045  USD 74.344
State of Bremen          0.400  8/20/2049  EUR 48.001
Caisse Francaise de Fin  0.510 11/19/2040  EUR 59.596
A-TEC Industries AG      8.750 10/27/2014  EUR  0.100
Republic of Belarus Int  6.378  2/24/2031  USD 40.225
DekaBank Deutsche Giroz  1.100 11/25/2030  EUR 72.024
Notting Hill Genesis     2.000   6/3/2036  GBP 65.117
Nederlandse Waterschaps  1.625  1/29/2048  EUR 70.582
Phosphorus Holdco PLC   10.000   4/1/2019  GBP  0.947
Pershing Square Holding  3.000  7/15/2032  USD 69.689
Thames Water Utilities   1.819  8/28/2049  GBP 68.487
niiio finance group AG   4.000  5/31/2026  EUR 35.000
Boparan Finance PLC      7.625 11/30/2025  GBP 66.304
Swissgrid AG             0.200  6/29/2040  CHF 71.782
British Telecommunicati  3.924  6/25/2042  GBP 68.803
Hylea Group SA           7.250  12/1/2022  EUR  0.200
Jyske Realkredit A/S     1.500  10/1/2053  DKK 65.037
Intesa Sanpaolo SpA      2.700  3/29/2031  USD 73.878
Pfandbriefbank schweize  0.375  6/15/2046  CHF 74.582
Kreditanstalt fuer Wied  1.100  9/16/2051  EUR 59.542
Malta Government Bond    1.200  5/13/2037  EUR 71.028
Gemeente Bergen OP Zoom  0.440  9/20/2044  EUR 55.162
Stelius Befektetoe Zart  3.100  9/17/2030  HUF 66.500
VST Building Technologi  7.000  6/28/2024  EUR  0.031
Single Platform Investm  2.965  2/15/2042  NOK 71.634
Celtic Resources Holdin  4.125  10/9/2024  USD 14.527
Lukoil Securities BV     3.875   5/6/2030  USD 74.222
Ukraine Government Bond 12.940  2/14/2024  UAH 74.564
Unibail-Rodamco-Westfie  2.000  5/29/2037  EUR 73.720
Land Thueringen          1.127   4/2/2049  EUR 60.136
Republic of Belarus Int  5.875  2/24/2026  USD 49.105
Intrum AB                3.000  9/15/2027  EUR 66.650
Credit Suisse Internati  9.500  3/24/2026  UAH 58.510
Banco Espirito Santo SA  6.875  7/15/2016  EUR 21.162
Deutsche Konsum REIT-AG  3.100  4/28/2031  EUR 74.774
Cie de Financement Fonc  0.010 10/29/2035  EUR 65.820
Ministeries Van de Vlaa  1.000 10/13/2036  EUR 72.813
Caisse Francaise de Fin  0.010 10/19/2035  EUR 65.411
Hungary Government Inte  3.125  9/21/2051  USD 59.167
Single Platform Investm  1.548 10/31/2050  EUR 60.004
City of Hanover Germany  1.560   5/3/2048  EUR 69.527
Kingdom of Belgium Gove  1.400  6/22/2053  EUR 60.816
Gazprom PJSC via Gaz Fi  2.950  1/27/2029  USD 63.000
Region Wallonne Belgium  1.000  9/16/2059  EUR 42.959
Single Platform Investm  4.020   7/1/2052  EUR 53.898
Russian Foreign Bond -   5.625   4/4/2042  USD 67.663
Natixis SA               3.630  6/14/2039  AUD 66.938
Kleopatra Holdings 2 SC  6.500   9/1/2026  EUR 64.417
Raiffeisenlandesbank Ob  1.650  8/23/2046  EUR 68.638
Agrokor dd               9.875   5/1/2019  EUR 15.000
Flamingo Lux II SCA      5.000  3/31/2029  EUR 64.642
Soc Nationale SNCF SACA  2.457 12/23/2050  USD 60.845
SCC Power PLC            6.000 12/31/2028  USD 50.878
Republic of Ireland Int  1.560  2/16/2122  EUR 52.550
Kuntarahoitus Oyj        1.449   3/1/2061  EUR 66.224
Garfunkelux Holdco 3 SA  7.750  11/1/2025  GBP 74.558
Assa Abloy AB            0.650  8/28/2034  EUR 70.519
Yorkshire Water Service  1.462   8/1/2051  GBP 71.451
Muenchener Hypothekenba  0.568  6/15/2032  EUR 73.502
Realkredit Danmark A/S   0.500  10/1/2043  DKK 74.924
Region Wallonne Belgium  0.500  6/22/2037  EUR 64.956
KTG Agrar SE             7.125   6/6/2017  EUR  2.001
Achmea Bank NV           0.250  9/29/2036  EUR 66.519
ING Bank NV              0.182  4/21/2033  EUR 74.035
Commune de Marseille     1.712  12/6/2039  EUR 74.878
Thames Water Utilities   2.620  3/22/2033  GBP 69.342
Land Thueringen          0.100   7/9/2035  EUR 68.742
Kommunekredit            0.625 11/21/2039  EUR 65.853
Region Hauts-de-France   0.691   7/9/2042  EUR 58.038
DLR Kredit A/S           1.000  10/1/2050  DKK 68.634
Region Centre            0.711  11/2/2036  EUR 67.237
Interpipe Holdings PLC   8.375  5/13/2026  USD 63.888
Kernel Holding SA        6.500 10/17/2024  USD 69.644
Development Bank of the  6.750   5/2/2024  USD 41.325
Landesbank Baden-Wuertt 13.100 11/24/2023  EUR 67.340
Dexia SA                 5.495             EUR  2.805
Ministeries Van de Vlaa  1.000  1/23/2051  EUR 53.271
Affinity Water Finance   3.278  8/22/2042  GBP 66.298
Bayerische Landesbodenk  0.250  3/21/2036  EUR 68.638
Abengoa Abenewco 1 SA    6.000  6/10/2022  EUR  0.454
Ile-de-France Mobilites  0.675 11/24/2036  EUR 68.911
Futureal Development Ho  4.000  3/23/2031  HUF 69.000
Jyske Realkredit A/S     1.000  10/1/2053  DKK 59.627
Realkredit Danmark A/S   0.500  10/1/2053  DKK 62.043
Metropolitano de Teneri  1.229  7/30/2036  EUR 69.876
Euronext NV              1.500  5/17/2041  EUR 67.854
Romanian Government Int  2.750  4/14/2041  EUR 60.834
Soc Nationale SNCF SACA  1.280  3/27/2120  EUR 33.321
Free and Hanseatic City  0.400 11/23/2051  EUR 45.691
National Grid Electrici  1.676  9/24/2052  GBP 74.045
National Grid Electrici  1.151  2/20/2040  EUR 61.413
Junta de Castilla y Leo  1.275   4/7/2049  EUR 53.717
Slovenska Sporitelna AS  4.820             EUR 64.590
Romanian Government Int  2.875  4/13/2042  EUR 61.008
Vasakronan AB            1.870   6/3/2039  EUR 45.693
Iberdrola Finanzas SA    1.000   2/2/2037  EUR 69.243
International Finance F  0.500  6/29/2027  ZAR 70.374
La Banque Postale Home   0.250  2/12/2035  EUR 69.606
Abengoa Abenewco 2 Bis   1.500  4/26/2024  USD  1.046
United Utilities Water   1.435 11/21/2056  GBP 70.893
Russian Foreign Bond -   7.500  3/31/2030  USD 66.029
State of Brandenburg     0.125  1/26/2046  EUR 48.621
Credit Agricole Italia   1.000  1/17/2045  EUR 57.180
Jyske Realkredit A/S     0.500  10/1/2050  DKK 64.229
Cirio Holding Luxembour  6.250  2/16/2004  EUR  2.231
Nationwide Building Soc  0.485  7/11/2044  CHF 73.135
Chelyabinsk Pipe Plant   4.500  9/19/2024  USD 58.616
Romanian Government Int  2.625  12/2/2040  EUR 60.858
Realkredit Danmark A/S   1.500  10/1/2050  DKK 72.784
Royal Schiphol Group NV  2.890 10/25/2034  AUD 69.921
Canton of Neuchatel      0.350  7/14/2050  CHF 69.999
British Telecommunicati  1.739  6/25/2039  GBP 68.031
Land Berlin              0.625  8/25/2036  EUR 71.502
Gazprom PJSC via Gaz Fi  1.500  2/17/2027  EUR 64.051
Hampshire Trust Bank PL  7.250  5/10/2028  GBP 70.378
Romanian Government Int  4.000  2/14/2051  USD 67.305
Kingdom of Belgium Gove  0.459  7/23/2079  EUR 28.167
NRW Bank                 1.250  5/13/2049  EUR 64.665
Realkredit Danmark A/S   0.500  10/1/2050  DKK 64.228
Stadt Graz               1.878 10/31/2046  EUR 71.552
Kelag-Kaerntner Elektri  1.150  4/16/2041  EUR 62.943
Gazprom PJSC via Gaz Fi  3.500  7/14/2031  USD 60.228
Single Platform Investm  2.085  1/24/2044  NOK 57.256
Banco Santander SA       5.886             EUR  1.562
DLR Kredit A/S           0.500  10/1/2053  DKK 66.945
FLUVIUS System Operator  3.000 10/27/2044  EUR 72.101
CBo Territoria           7.000  6/30/2028  EUR  4.260
Deutsche Lichtmiete Fin  5.750   1/1/2023  EUR  4.250
United Kingdom Gilt      1.125 10/22/2073  GBP 36.149
Ideal Standard Internat  6.375  7/30/2026  EUR 63.191
Credit Suisse AG/London 11.500  9/25/2023  CHF 17.940
Credit Agricole SA       3.750   6/9/2040  AUD 65.226
BPCE SA                  0.500 10/21/2034  EUR 67.478
UniCredit Bank AG        6.600  7/20/2028  EUR  1.700
Single Platform Investm  0.700  9/20/2041  EUR 56.261
Malta Government Bond    1.500 10/22/2045  EUR 62.051
Aareal Bank AG           1.576  2/23/2032  EUR 70.213
Fastighets AB Balder     1.293   3/3/2031  EUR 58.671
NRW Bank                 1.182   8/7/2050  EUR 58.779
Ziggo Bond Co BV         3.375  2/28/2030  EUR 74.513
Cooperatieve Rabobank U  0.500 11/30/2027  MXN 64.555
Caisse de Refinancement  0.250   2/7/2035  EUR 69.883
La Financiere Atalian S  5.125  5/15/2025  EUR 68.350
National Grid Electrici  1.690  9/16/2041  GBP 52.365
UBS Group AG             1.269 10/27/2033  JPY 74.897
Department of Loiret Fr  0.478 10/30/2040  EUR 58.423
Region Wallonne Belgium  1.250  6/22/2071  EUR 46.746
State of Lower Saxony    0.050   3/9/2035  EUR 69.292
Erotik-Abwicklungsgesel  7.750   7/9/2019  EUR  0.779
Land Baden-Wuerttemberg  0.375  7/20/2048  EUR 47.717
Maxeda DIY Holding BV    5.875  10/1/2026  EUR 73.699
Alfa Bank AO Via Alfa B  5.950  4/15/2030  USD  1.359
La Financiere Atalian S  4.000  5/15/2024  EUR 72.135
Municipality of Utrecht  0.950   3/2/2037  EUR 73.704
SCF Capital Designated   3.850  4/26/2028  USD 65.808
Muenchener Hypothekenba  0.250   5/2/2036  EUR 67.765
City of Amsterdam Nethe  1.515  2/26/2044  EUR 71.517
Raiffeisenlandesbank Ni  0.375  1/15/2035  EUR 70.129
Cooperatieve Rabobank U  0.500  8/21/2028  MXN 60.102
State of Bremen          0.150  9/14/2040  EUR 57.672
Banque Cantonale de Fri  0.100  11/1/2044  CHF 67.786
Pfandbriefzentrale der   0.050  10/6/2043  CHF 71.279
Logicor Financing Sarl   2.875  12/6/2029  GBP 74.566
Anglian Water Services   1.760 11/13/2035  GBP 63.245
Kuntarahoitus Oyj        0.940   6/9/2064  EUR 58.167
Assistance Publique Hop  1.125  4/16/2047  EUR 57.508
Charm Finance PLC        3.509  4/12/2048  GBP 68.728
Serbia International Bo  1.650   3/3/2033  EUR 67.413
Spain Government Bond    1.450 10/31/2071  EUR 45.453
Societe Du Grand Paris   2.062  3/19/2070  EUR 59.606
DZ Bank AG Deutsche Zen  0.510  1/25/2036  EUR 61.730
Canton of Neuchatel      0.100 10/29/2049  CHF 65.400
Gazprom PJSC Via Gaz Ca  4.950  3/23/2027  USD 74.504
Land Berlin              0.625  7/15/2039  EUR 66.060
Global Ports Finance PL  6.500  9/22/2023  USD 44.602
MBH Mortgage Bank Co PL  2.600 10/22/2028  HUF 72.700
Deutsche Bahn Finance G  1.850 11/23/2043  EUR 65.691
Jyske Realkredit A/S     0.500  10/1/2053  DKK 65.377
Investitionsbank Berlin  0.050   3/2/2035  EUR 69.053
Republic of Ireland Int  0.835   7/8/2080  EUR 39.631
Hamon & CIE SA           3.300  1/31/2035  EUR 46.307
Severn Trent Utilities   1.501   8/1/2058  GBP 71.908
State of Mecklenburg-We  0.239 11/17/2070  EUR 23.782
BNP Paribas SA           0.990   5/6/2024  USD 15.180
Ukraine Government Bond 19.750  2/18/2026  UAH 73.450
Ukraine Government Bond 14.000  6/26/2024  UAH 72.276
Jyske Realkredit A/S     0.500  10/1/2050  DKK 67.499
DXC Capital Funding DAC  0.950  9/15/2031  EUR 71.761
United Utilities Water   1.587  8/16/2056  GBP 73.618
Free State of Saxony     0.400  5/12/2036  EUR 69.975
Kreditanstalt fuer Wied  0.788  11/4/2039  EUR 68.198
Ukraine Government Inte  9.790  5/26/2027  UAH 53.822
Midland Heart Capital P  1.831  8/12/2050  GBP 48.422
HSBC Continental Europe  1.140  8/26/2049  EUR 51.636
Sairgroup Finance BV     4.375   6/8/2006  EUR  0.250
T-Centrum CZ AS         11.710 10/30/2024  CZK 46.300
Basque Government        1.750  4/22/2050  EUR 60.000
Futures Treasury PLC     3.375   2/8/2044  GBP 72.160
United Utilities Water   1.750  2/10/2038  GBP 60.028
Codere Finance 2 Luxemb 12.750 11/30/2027  EUR 25.000
Vier Gas Transport GmbH  0.500  9/10/2034  EUR 67.914
Region Wallonne Belgium  1.600  3/29/2039  EUR 71.736
SpareBank 1 SR-Bank ASA  2.800  9/19/2044  EUR 72.267
Cie de Financement Fonc  0.975  8/11/2046  EUR 61.840
Region de Bruxelles-Cap  1.220  6/23/2053  EUR 53.646
Commune de Marseille     1.079 11/19/2046  EUR 57.157
BNP Paribas SA           1.590  2/23/2051  EUR 61.220
Deutsche Bank Luxembour  1.560  10/6/2028  EUR 69.553
Autonomous Community of  2.738 10/31/2049  EUR 74.632
Yarlington Treasury Ser  3.410  9/18/2057  GBP 63.679
VIA A11 NV               4.490  9/30/2045  EUR 71.975
United Utilities Water   0.379  12/9/2036  GBP 73.421
Abengoa Abenewco 2 Bis   1.500  4/26/2024  USD  1.046
St Galler Kantonalbank   0.100 10/10/2041  CHF 72.215
La Banque Postale Home   0.640  1/27/2042  EUR 61.554
DLR Kredit A/S           1.000  10/1/2050  DKK 73.123
Sibur Securities DAC     2.950   7/8/2025  USD 65.418
Prosus NV                2.778  1/19/2034  EUR 72.335
Region Bourgogne-Franch  0.270  12/7/2035  EUR 64.336
Eolo SpA                 4.875 10/21/2028  EUR 72.278
Barclays Bank PLC        5.000  11/1/2029  BRL 72.039
Cirio Finance Luxembour  7.500  11/3/2002  EUR  3.056
Telia Co AB              3.000  9/25/2064  EUR 67.211
United Utilities Water   0.387  10/5/2057  GBP 46.058
Romanian Government Int  2.000  1/28/2032  EUR 73.178
State of Brandenburg     0.500 11/21/2039  EUR 63.961
Pershing Square Holding  3.000  7/15/2032  USD 69.689
Evan Group PLC           6.000  7/31/2022  EUR  4.510
Bank of Valletta PLC     3.750  6/15/2031  EUR 71.812
Norwegian Air Shuttle A  7.830             NOK 74.000
Uliving@essex3 LLP       2.720  8/31/2066  GBP 47.551
Heta Asset Resolution A  3.786 12/31/2023  EUR  1.168
Agatos SpA               4.750 12/31/2026  EUR 68.000
EVN AG                   0.850 10/15/2035  EUR 68.770
Aroundtown SA            3.250 11/12/2032  EUR 57.231
Niedersachsen Invest Gm  0.250  7/16/2035  EUR 70.507
Caisse des Depots et Co  2.766   8/9/2049  USD 65.021
Communaute Francaise de  1.397  7/18/2059  EUR 50.872
Cirio Del Monte NV       7.750  3/14/2005  EUR  2.261
Norwegian Air Shuttle A  7.500 11/10/2023  USD 73.375
OGX Austria GmbH         8.500   6/1/2018  USD  0.019
Land Berlin              0.625  1/26/2052  EUR 49.880
Phosagro OAO Via Phosag  2.600  9/16/2028  USD 64.421
Soc Nationale SNCF SACA  3.190  4/19/2041  AUD 71.895
Land Thueringen          0.375  12/1/2051  EUR 45.248
Malta Government Bond    2.400  8/13/2052  EUR 68.907
Single Platform Investm  1.850  11/5/2040  EUR 71.762
Single Platform Investm  0.915  2/15/2043  EUR 57.809
DZ Bank AG Deutsche Zen  1.840 12/21/2048  EUR 68.860
Quintet Private Bank Eu  3.650 11/13/2023  EUR  3.080
State of Brandenburg     0.375  1/29/2035  EUR 72.583
State of Bremen          0.550   2/4/2050  EUR 49.802
Comunidad Foral de Nava  2.100  4/30/2044  EUR 68.988
Deutsche Pfandbriefbank  3.100   9/7/2046  USD 64.664
ASH8 Debt Co UK 1 PLC    3.651 12/31/2055  GBP 70.558
Spain Government Bond    1.900 10/31/2052  EUR 63.080
Regiao Autonoma Madeira  1.141  12/4/2034  EUR 71.955
State of Brandenburg     0.300  10/4/2049  EUR 46.623
Single Platform Investm  1.610  2/15/2043  EUR 66.884
State of Saarland        0.050  11/5/2040  EUR 56.828
HYPO NOE Landesbank fue  1.605  8/23/2046  EUR 71.624
Aareal Bank AG           0.870  6/28/2029  EUR 74.545
Wessex Water Services F  1.250  1/12/2036  GBP 57.106
Citigroup Global Market 12.379 11/13/2023  SEK 72.340
Ukraine Government Inte 12.520  5/13/2026  UAH 58.821
Republic of Poland Gove  1.750  4/25/2032  PLN 73.717
BCP V Modular Services   6.750 11/30/2029  EUR 73.826
Ukraine Government Bond 19.250   8/7/2024  UAH 72.762
Yorkshire Water Service  1.758   2/1/2054  GBP 74.444
Bazalgette Finance Plc   0.010   8/5/2036  GBP 70.691
Jain International Trad  7.125   2/1/2022  USD 22.000
Del Monte Finance Luxem  6.625  5/24/2006  EUR  1.000
Ukraine Government Inte  9.990  5/22/2024  UAH 68.277
Norske Skog Holding AS   8.000  2/24/2021  EUR  0.006
HSBC Bank PLC            0.500  6/23/2027  MXN 66.635
ABN AMRO Bank NV         0.450 12/12/2036  EUR 68.205
Severn Trent Utilities   1.457   8/1/2058  GBP 71.083
Cirio Finanziaria SpA    8.000 12/21/2005  EUR  0.478
Finmek International SA  7.000  12/3/2004  EUR  2.193
Communaute Francaise de  1.120  7/19/2038  EUR 66.390
NRW Bank                 0.650  7/20/2037  EUR 68.775
State of Saarland        0.500  3/15/2051  EUR 48.390
Autonomous Region of th  1.095  9/27/2036  EUR 67.785
Metinvest BV             5.625  6/17/2025  EUR 69.563
JAB Holdings BV          4.500   4/8/2052  USD 74.133
Bayerische Landesbank    0.770  2/27/2032  EUR 74.368
Cie de Saint-Gobain SA   1.875   5/3/2035  EUR 74.440
United Utilities Water   0.010  9/30/2036  GBP 71.805
Nordea Kredit Realkredi  0.500  10/1/2050  DKK 64.447
Yorkshire Water Service  1.709   2/1/2058  GBP 74.643
Eurogrid GmbH            0.875 11/20/2040  EUR 60.965
Alpine Holding GmbH      5.250  6/10/2016  EUR  0.372
State of Lower Saxony    0.250  4/15/2036  EUR 68.561
Autonomous Community of  1.850  5/13/2061  EUR 52.835
Single Platform Investm  1.425  5/25/2052  EUR 57.821
Caisse des Depots et Co  0.398 12/15/2050  EUR 41.687
Region de Bruxelles-Cap  0.765  7/15/2052  EUR 44.555
Republic of Austria Gov  2.100  9/20/2117  EUR 68.672
State of Hesse           0.227  8/20/2049  EUR 48.169
Russian Agricultural Ba  8.500 10/16/2023  USD 26.135
Thames Water Utilities   1.846  8/28/2047  GBP 69.853
National Grid Electrici  1.608  8/24/2040  GBP 49.757
Morhomes PLC             2.508  2/19/2051  GBP 52.096
La Financiere Atalian S  6.625  5/15/2025  GBP 67.843
DLR Kredit A/S           1.000  10/1/2053  DKK 67.753
DAH Holding GmbH         7.250  9/28/2018  EUR  0.718
UBS AG/London            1.600  4/18/2049  EUR 61.156
United Utilities Water   1.556 10/25/2056  GBP 72.598
Region de Bruxelles-Cap  1.400  3/11/2054  EUR 51.782
Boparan Finance PLC      7.625 11/30/2025  GBP 67.066
Deutsche Telekom AG      3.500  4/15/2041  AUD 70.633
GN Store Nord AS         3.200 11/26/2036  GBP 70.416
Region de Bruxelles-Cap  1.813  1/22/2048  EUR 67.172
Single Platform Investm  1.340  5/10/2044  EUR 56.798
Malta Government Bond    1.400  8/20/2046  EUR 59.593
State Agency of Roads o  6.250  6/24/2030  USD 27.313
Kingdom of Belgium Gove  1.170  5/12/2121  EUR 38.443
Realkredit Danmark A/S   0.500  10/1/2053  DKK 65.334
Aareal Bank AG           2.658  5/13/2033  EUR 73.987
ABN AMRO Bank NV         0.500 12/12/2039  EUR 63.077
Severn Trent Utilities   1.589   2/1/2067  GBP 74.809
State of Lower Austria   0.550 11/13/2080  EUR 28.523
State Savings Bank of U 12.700  1/19/2024  USD 34.250
Ahtium PLC               9.750   4/4/2017  EUR  0.726
Peine GmbH               2.000   7/5/2023  EUR 44.500
Berlin Hyp AG            0.030  7/22/2030  EUR 74.298
Single Platform Investm  1.370  7/25/2053  EUR 57.048
Credit Agricole SA       6.750  9/29/2042  AUD 74.074
Region Auvergne-Rhone-A  0.892 10/21/2041  EUR 60.379
Land Thueringen          0.250   3/5/2040  EUR 60.018
DNB Bank ASA             1.185  1/14/2038  EUR 67.879
Republic of Austria Gov  0.100  7/10/2040  EUR 58.776
Banque Federative du Cr  0.376 10/15/2031  EUR 70.904
Goldman Sachs Internati 16.288  3/17/2027  USD 51.630
Citigroup Global Market  8.200  3/21/2024  SEK 60.320
Region of Ile de France  0.610   7/2/2040  EUR 60.891
Deutsche Bahn Finance G  3.100  5/20/2041  AUD 69.145
Banque Federative du Cr  1.590   2/5/2031  USD 72.983
Single Platform Investm  1.460  5/25/2052  EUR 58.692
Richter Gedeon Nyrt      1.750   6/4/2031  HUF 72.500
Department of L'Eure Fr  0.643  8/31/2041  EUR 56.321
State of Brandenburg     0.050  8/10/2040  EUR 56.822
Orpea SA                 3.144 12/22/2025  EUR 28.234
National Grid Electrici  1.584  7/28/2056  GBP 70.631
State of Rhineland-Pala  1.500  4/25/2052  EUR 65.558
Joh Friedrich Behrens A  7.750 11/11/2020  EUR  8.112
Republic of Belarus Int  6.378  2/24/2031  USD 40.632
BNG Bank NV              0.630  7/11/2067  EUR 37.510
DNB Boligkreditt AS      0.980  6/20/2044  EUR 63.465
Alliander NV             1.125   4/8/2035  EUR 70.293
Barclays Bank PLC        0.779 11/15/2024  USD 10.000
Agence Francaise de Dev  2.302 10/25/2044  USD 62.910
Nederlandse Waterschaps  0.436 10/22/2040  EUR 60.691
HSE Finance Sarl         5.625 10/15/2026  EUR 53.909
Single Platform Investm  1.270  5/15/2035  EUR 68.880
Kreditanstalt fuer Wied  0.980   2/9/2042  EUR 67.753
Saechsische Aufbaubank-  0.300  2/18/2042  EUR 54.378
Autonomous Community of  1.655 10/31/2050  EUR 57.771
Ukraine Government Bond  4.000  1/25/2024  USD 72.671
State of North Rhine-We  1.467  6/12/2045  EUR 69.948
Ukraine Government Inte  9.790  5/26/2027  UAH 53.822
Agrokor dd               9.125   2/1/2020  EUR 15.000
Aareal Bank AG           0.570   8/7/2029  EUR 72.760
Severn Trent Utilities   1.566   2/1/2058  GBP 71.714
Veneto Banca SpA         6.411             EUR  0.345
COFIDUR SA               0.100 12/31/2024  EUR 30.700
Aareal Bank AG           2.020 11/20/2034  EUR 65.723
Anglian Water Services   0.850 12/23/2040  JPY 72.600
Land Berlin              0.350   9/9/2050  EUR 46.313
Land Thueringen          0.375 11/14/2034  EUR 72.632
Ile-de-France Mobilites  1.586  2/23/2052  EUR 61.736
Hemso Fastighets AB      3.050  1/18/2038  SEK 73.724
Grand Delta Habitat      1.820  3/18/2050  EUR 60.802
NRW Bank                 1.400  3/19/2070  EUR 55.217
Ukraine Government Inte 14.000  6/26/2024  UAH 72.276
DZ Bank AG Deutsche Zen 14.100  6/28/2024  EUR 71.050
Landesbank Baden-Wuertt  0.280   9/1/2031  EUR 72.050
Bulgaria Steel Finance  12.000   5/4/2013  EUR  0.216
CNH Industrial Finance   2.200  7/15/2039  EUR 71.277
Siemens Financieringsma  3.300  9/15/2046  USD 72.758
State of Bremen          0.936  9/28/2046  EUR 62.358
Depfa Funding II LP      6.500             EUR 60.136
Credit Bank of Moscow V  7.625             USD 26.434
Raiffeisen Landesbank V  0.250   3/4/2036  EUR 66.846
CPI Hungary Investments  2.250   8/7/2030  HUF 59.000
VTB Bank PJSC Via VTB E  9.500             USD 17.644
Deutsche Wohnen SE       1.700  12/5/2036  EUR 62.070
Yorkshire Water Service  1.460   8/1/2056  GBP 69.968
A-TEC Industries AG      2.750  5/10/2014  EUR  0.100
Basque Government        1.000 10/31/2050  EUR 47.823
Norwegian Air Shuttle A  7.500 11/10/2023  USD 73.375
International Bank of A  8.250  10/9/2024  USD 60.375
Wirtschafts- und Infras  0.500  8/28/2046  EUR 50.973
Bpifrance                1.046  5/25/2050  EUR 50.097
Cooperatieve Rabobank U  1.460   6/1/2040  EUR 73.420
Single Platform Investm  0.950  7/25/2047  EUR 47.043
Republic of Ireland Int  0.995  2/24/2121  EUR 35.389
Region de Bruxelles-Cap  0.592 12/10/2061  EUR 32.700
Stonewater Funding PLC   3.375  11/2/2045  GBP 71.720
Single Platform Investm  1.600  2/15/2041  EUR 68.902
Novolipetsk Steel Via S  1.450   6/2/2026  EUR 69.463
Single Platform Investm  1.250  8/15/2051  EUR 56.535
Norske Skog Holding AS   8.000  2/24/2021  EUR  0.006
Nederlandse Waterschaps  1.900  1/31/2035  AUD 69.879
Free and Hanseatic City  0.010  11/5/2035  EUR 67.305
Ministeries Van de Vlaa  1.875   6/2/2042  EUR 74.777
Bibby Offshore Services  7.500  6/15/2021  GBP 11.625
Region de Bruxelles-Cap  0.808  1/31/2050  EUR 46.146
getgoods.de AG           7.750  10/2/2017  EUR  0.527
Region de Bruxelles-Cap  0.944  6/22/2057  EUR 40.069
Cooperatieve Rabobank U  0.500 12/29/2027  MXN 63.834
TBI Bank EAD             5.250  7/30/2031  EUR 50.901
Cooperatieve Rabobank U  1.850  3/29/2049  EUR 58.993
Department of L'Eure Fr  1.110  6/18/2039  EUR 68.688
Kreditanstalt fuer Wied  1.000 10/20/2050  EUR 59.236
Credit Bank of Moscow V  8.875             USD 13.056
Kuntarahoitus Oyj        0.448  3/19/2040  EUR 61.158
Concessio Estacions Aer  3.520 12/31/2037  EUR 68.932
Grupo Antolin-Irausa SA  3.500  4/30/2028  EUR 74.000
Ukraine Government Inte 14.000  6/26/2024  UAH 72.276
GB Social Housing PLC    3.814   4/9/2047  GBP 66.269
Region de Bruxelles-Cap  0.283 10/24/2033  EUR 69.122
DLR Kredit A/S           1.000  10/1/2053  DKK 72.604
BPCE SFH SA              0.500  1/23/2035  EUR 71.792
Single Platform Investm  1.800  7/25/2053  EUR 64.827
Deutsche Bank AG         1.725  1/16/2045  EUR 41.013
Kuntarahoitus Oyj        1.150   4/1/2051  EUR 64.748
GTC Magyarorszag Zrt     2.600  3/17/2031  HUF 73.420
Rena GmbH                8.250  7/11/2018  EUR  0.054
Hemso Fastighets AB      2.975 10/25/2038  SEK 72.175
Landesbank Baden-Wuertt  0.900  5/28/2035  EUR 68.077
Department of Gironde F  0.765  4/29/2036  EUR 67.287
Region Wallonne Belgium  1.805  1/24/2040  EUR 71.871
VTB Bank OJSC Via VTB C  6.250  6/30/2035  USD 23.633
DekaBank Deutsche Giroz  0.400  1/29/2035  EUR 72.448
Region Wallonne Belgium  1.305  9/29/2041  EUR 63.469
NatWest Markets PLC      1.250  12/4/2034  EUR 69.215
ALROSA Finance SA        4.650   4/9/2024  USD 10.162
Kommuninvest I Sverige   2.000 10/21/2040  SEK 73.739
Kardan NV                6.325  2/21/2021  ILS 10.000
Ministeries Van de Vlaa  0.634 11/19/2060  EUR 35.751
Barclays Bank PLC        0.745 10/31/2024  USD  9.857
Comunidad Foral de Nava  0.550 10/22/2035  EUR 67.698
Steilmann SE             6.750  6/27/2017  EUR  2.184
Basler Kantonalbank     16.000  6/14/2024  CHF 66.010
Danske Bank A/S          0.910 10/17/2039  JPY 70.899
Credit Agricole SA       4.400  2/24/2042  AUD 60.256
Mercedes-Benz Manufactu  1.500  3/16/2027  HUF 75.000
Societe Generale SA      3.310 11/29/2033  AUD 70.278
Deutsche Bank AG         2.330  2/11/2043  EUR 69.488
Autonomous Community of  1.515  6/21/2051  EUR 54.033
OP Corporate Bank plc    1.400  3/16/2035  EUR 71.125
Batigere Grand Est SAHL  1.600 11/14/2044  EUR 61.157
MFB Magyar Fejlesztesi   2.900 10/22/2031  HUF 70.428
Thomas Cook Finance 2 P  3.875  7/15/2023  EUR  0.659
National Grid Electrici  1.541  12/1/2056  GBP 70.815
Air Berlin Finance BV    8.500   3/6/2019  EUR  0.278
Spain Government Bond    1.200 10/31/2040  EUR 66.007
Malta Government Bond    2.000  7/10/2051  EUR 63.197
United Kingdom Gilt      1.250  7/31/2051  GBP 47.638
UBS AG/London           17.500  3/15/2024  CHF 45.400
Vasakronan AB            2.130  5/27/2041  SEK 64.049
Deutsche Pfandbriefbank  1.000  12/2/2030  EUR 73.374
Kingdom of Belgium Gove  0.675   7/7/2080  EUR 33.283
Landesbank Hessen-Thuer  4.375  3/30/2042  USD 63.453
Societe Generale SA      8.510   6/6/2024  USD 72.500
Assistance Publique Hop  0.634  8/27/2045  EUR 52.381
BNG Bank NV             10.010  6/17/2025  TRY 66.784
JAB Holdings BV          2.000 12/19/2039  EUR 70.167
Commerzbank AG           0.850  8/15/2029  EUR 74.972
Cie Generale de Navigat  0.350 12/29/2056  CHF 66.607
German Pellets GmbH      7.250 11/27/2019  EUR  0.815
Department of Val d'Ois  0.735   7/3/2040  EUR 62.230
DZ Bank AG Deutsche Zen  1.010 12/30/2030  EUR 74.470
Deutsche Telekom AG      4.125  7/23/2049  USD 72.113
A-TEC Industries AG      5.750  11/2/2010  EUR  0.100
Wirtschafts- und Infras  0.101   9/8/2033  EUR 72.979
Cooperatieve Rabobank U  2.090 12/27/2047  EUR 63.803
Caisse des Depots et Co  1.787  1/30/2048  EUR 66.329
Ville de Paris           0.831  2/23/2056  EUR 42.048
Kingdom of Belgium Gove  0.650  6/22/2071  EUR 38.520
United Utilities Water   0.359  10/5/2048  GBP 52.397
Caisse des Depots et Co  1.015  7/22/2050  EUR 51.991
Societe Generale SA      1.113  7/17/2031  EUR 74.736
Prosus NV                2.031   8/3/2032  EUR 70.776
Single Platform Investm  0.745  2/15/2047  EUR 44.033
Meta Wolf AG             6.750  3/10/2005  DEM  0.110
Credit Bank of Moscow V  4.700  1/29/2025  USD 26.156
Corporate Commercial Ba  8.250   8/8/2014  USD  0.308
Nordea Kredit Realkredi  0.500  10/1/2053  DKK 62.064
Praktiker AG             5.875  2/10/2016  EUR  0.001
Republic of Ireland Int  0.740  9/22/2078  EUR 37.868
Finance and Credit Bank  9.250  1/25/2019  USD  0.001
Malta Government Bond    1.800  8/28/2051  EUR 60.136
Banco Santander SA       1.840  7/20/2033  EUR 72.771
Credit Bank of Moscow V  3.875  9/21/2026  USD 34.566
Free and Hanseatic City  0.300  9/16/2050  EUR 45.328
Lloyds Bank PLC          2.580  3/28/2039  SEK 70.031
Region Wallonne Belgium  1.150   9/2/2120  EUR 32.779
Societe Du Grand Paris   2.100  2/14/2069  EUR 59.287
Credit Agricole SA       3.000  1/28/2041  AUD 49.289
Single Platform Investm  1.442  7/25/2053  EUR 58.669
Norwegian Air Shuttle A  6.860             NOK 74.000
Banque Internationale a  0.510  2/10/2031  EUR 71.931
Jyske Realkredit A/S     1.000  10/1/2056  DKK 66.740
Societe Generale SA     18.800  8/31/2023  USD 18.500
MBH Mortgage Bank Co PL  3.000  1/28/2036  HUF 54.650
NRW Bank                 0.210  8/31/2033  EUR 74.230
Norske Skogindustrier A  7.125 10/15/2033  USD  0.010
Turkey Government Inter  5.750  5/11/2047  USD 70.585
Region Wallonne Belgium  0.050 10/26/2032  EUR 70.953
Single Platform Investm  0.559  2/15/2047  EUR 49.072
Batigere Grand Est SAHL  1.485 10/25/2039  EUR 66.290
DLR Kredit A/S           0.500  10/1/2050  DKK 68.962
Landesbank Hessen-Thuer  0.650 10/18/2034  EUR 66.542
Single Platform Investm  1.870 11/21/2044  EUR 58.872
Nordea Bank Abp          7.500  7/20/2027  SEK 74.875
Solon SE                 1.375  12/6/2012  EUR  0.745
Societe Generale SA      1.137  1/26/2037  EUR 68.616
KTG Agrar SE             7.250 10/15/2019  EUR  2.001
Grand City Properties S  2.500  6/27/2039  EUR 57.852
LFA Foerderbank Bayern   0.125  9/30/2038  EUR 61.363
Banco Santander SA       1.000  10/1/2033  EUR 73.695
Agence France Locale     2.550  3/20/2036  AUD 72.481
Ville de Paris           0.750 11/30/2041  EUR 60.595
SCC Power PLC            6.000 12/31/2028  USD 50.878
City of Zurich Switzerl  0.250 11/24/2051  CHF 69.632
UniCredit SpA            0.725 11/27/2030  EUR 68.785
Autonomous Community of  1.744   7/1/2061  EUR 50.061
DZ Bank AG Deutsche Zen  1.980 12/29/2031  EUR 73.000
National Grid Electrici  3.350  6/10/2036  AUD 74.259
Credito Padano Banca di  3.100             EUR 36.366
VTB Bank OJSC Via VTB C  6.250  6/30/2035  USD 23.633
Ministeries Van de Vlaa  1.095   6/3/2055  EUR 47.520
Municipality of Eindhov  1.826  5/30/2047  EUR 73.726
Bayerische Landesbodenk  0.030 10/22/2035  EUR 67.214
Golfino AG               8.000 11/18/2023  EUR  0.200
Municipality of Arnhem   0.460  9/20/2049  EUR 49.030
Caisse Francaise de Fin  1.640  7/10/2048  EUR 68.144
Severn Trent Utilities   1.399   2/9/2057  GBP 69.260
Region Auvergne-Rhone-A  1.090   4/8/2037  EUR 70.957
SNCF Reseau              1.425  8/14/2119  EUR 36.852
Severn Trent Utilities   1.399   2/9/2057  GBP 68.598
Ile-de-France Mobilites  0.200 11/16/2035  EUR 66.803
Hamburg Commercial Bank  2.597   2/1/2036  EUR 60.080
Portugal Telecom Intern  6.250  7/26/2016  EUR  0.285
Assistance Publique Hop  1.099   4/6/2071  EUR 38.640
Italy Buoni Poliennali   0.950   3/1/2037  EUR 65.735
BOA Offshore AS          0.409  7/17/2047  NOK  4.213
Wingholding Zrt          3.000  9/22/2031  HUF 64.000
Single Platform Investm  1.240  5/25/2052  EUR 57.571
Single Platform Investm  1.640  2/15/2047  EUR 64.088
Region de Bruxelles-Cap  1.040   5/3/2061  EUR 39.844
Bayerische Landesbank    3.180  2/16/2038  EUR 64.083
Republic of Belarus Int  6.200  2/28/2030  USD 40.556
SG Issuer SA             8.410  1/20/2027  SEK 62.850
GTC Magyarorszag Zrt     2.250  12/7/2030  HUF 72.210
Department of Val d'Ois  0.390 11/18/2041  EUR 55.254
Societe Generale SA      2.200 12/17/2040  USD 62.955
Kreditanstalt fuer Wied  0.699 10/20/2036  EUR 72.982
Jyske Realkredit A/S     0.500  10/1/2043  DKK 74.937
Deutsche Bank Luxembour  2.386  4/27/2029  EUR 69.726
Department of Val d'Ois  0.929  5/19/2041  EUR 63.061
NRW Bank                 0.185  8/17/2033  EUR 74.295
Barclays Bank PLC        2.300  8/31/2036  USD 63.578
J&T Banka AS             7.000             EUR 70.693
Kommunekredit            0.342   9/1/2042  EUR 57.083
Natixis SA               3.600 11/16/2041  AUD 64.367
Sequa Petroleum NV       5.000  4/29/2020  USD 30.250
Proximus SADP            1.500  5/14/2040  EUR 67.796
Elia Transmission Belgi  1.560  1/30/2044  EUR 72.445
Land Berlin              0.125   6/4/2035  EUR 69.368
Deutsche Pfandbriefbank  0.765  9/12/2036  EUR 54.765
Erdoel-Lagergesellschaf  1.281  9/30/2036  EUR 72.456
Deutsche Bank AG         1.750 10/30/2028  USD 74.700
Communaute Francaise de  1.725  4/23/2049  EUR 66.983
Intesa Sanpaolo SpA      4.700  9/23/2049  USD 66.107
Ukraine Government Bond 19.590  12/4/2024  UAH 70.929
Erste Group Bank AG      1.540  3/18/2034  EUR 71.062
Kommuninvest I Sverige   2.000 10/21/2039  SEK 74.206
Centre Hospitalier de M  1.580  2/11/2061  EUR 69.622
Single Platform Investm  1.450  9/14/2040  EUR 67.771
Societe Generale SA      0.690  4/21/2033  EUR 71.374
Parnassia Groep BV       1.470  12/3/2046  EUR 60.749
Parnassia Groep BV       1.260  12/3/2046  EUR 73.511
Region Occitanie         0.728 11/16/2037  EUR 65.515
DZ Bank AG Deutsche Zen  0.950 12/30/2030  EUR 74.450
Vontobel Financial Prod  9.200  6/28/2024  EUR 72.360
Kreditanstalt fuer Wied  0.980  6/28/2051  EUR 58.574
UBS AG/London            7.100 11/22/2023  USD  9.900
Ville de Paris           0.850   8/4/2051  EUR 48.161
Region de Bruxelles-Cap  0.910  1/31/2053  EUR 45.729
Minicentrales Dos SA     0.010   6/6/2047  EUR 58.439
Muenchener Hypothekenba  0.250 10/31/2044  CHF 70.185
Hemso Fastighets AB      1.130 10/31/2039  EUR 59.875
Single Platform Investm  1.150  5/25/2066  EUR 44.531
Landesbank Baden-Wuertt  0.380 11/18/2030  EUR 74.769
Vilogia SA d'HLM         1.500   8/7/2034  EUR 73.993
BNG Bank NV              2.020   8/7/2058  EUR 74.477
Barclays Bank PLC        7.350  4/11/2024  USD  9.897
Assistance Publique Hop  0.490  9/30/2040  EUR 58.734
ESB Finance DAC          2.000  4/17/2044  EUR 68.480
Deutsche Bank AG/London  0.500  8/23/2038  MXN 21.687
SAir Group               2.125  11/4/2004  CHF 10.125
Scottish Hydro Electric  1.429 10/20/2056  GBP 68.106
Hungary Government Inte  1.500 11/17/2050  EUR 51.353
Havenbedrijf Rotterdam   1.100  3/23/2051  EUR 57.378
Sovcombank Via SovCom C  8.000   4/7/2030  USD  6.581
State of Bremen          1.000  5/27/2039  EUR 70.491
Soc Nationale SNCF SACA  2.820  4/28/2036  AUD 74.949
Romanian Government Int  2.000  4/14/2033  EUR 70.261
MOL Hungarian Oil & Gas  1.900  4/12/2031  HUF 62.300
Romanian Government Int  3.375   2/8/2038  EUR 72.460
HSBC Continental Europe  2.220  1/24/2048  EUR 67.756
DNB Boligkreditt AS      1.452  1/19/2038  EUR 74.577
Hemso Fastighets AB      2.615 11/30/2043  EUR 63.508
Banque et Caisse d'Epar  1.230  4/26/2046  EUR 66.946
Banco Santander SA       0.010  10/1/2032  EUR 68.381
Kingdom of Belgium Gove  2.750  6/10/2071  USD 61.814
Ukraine Government Inte  7.375  9/25/2034  USD 27.417
Muenchener Hypothekenba  1.666   8/7/2042  EUR 74.704
Deutsche Bank AG         0.250  8/23/2028  EUR 68.310
Depfa Funding III LP     3.062             EUR 51.243
Caisse des Depots et Co  1.630 12/28/2046  EUR 64.548
Hungary Government Bond  3.000  4/25/2041  HUF 57.722
SNCF Reseau              2.622  9/24/2049  USD 64.566
United Utilities Water   0.010  12/9/2036  GBP 70.670
Barclays Bank PLC        2.500 12/29/2032  USD 74.611
State of Brandenburg     0.750   8/8/2036  EUR 72.915
Belfius Bank SA          0.125  6/19/2034  EUR 70.664
Single Platform Investm  2.230  3/17/2039  NOK 65.266
Credit Agricole Corpora  3.200  3/11/2036  AUD 73.402
Sanctuary Capital PLC    2.481 11/12/2037  GBP 66.938
Junta de Castilla y Leo  1.270 10/31/2044  EUR 58.624
Landesbank Baden-Wuertt  0.560  9/22/2033  EUR 68.949
Communaute Francaise de  1.010  7/19/2051  EUR 50.129
City of Amsterdam Nethe  1.359  2/26/2044  EUR 69.264
SpareBank 1 SR-Bank ASA  1.650  2/24/2042  EUR 61.143
Grand Delta Habitat      1.425  2/26/2048  EUR 55.980
Land Berlin              0.150  2/22/2036  EUR 67.825
Cooperatieve Rabobank U  2.481  2/26/2036  AUD 70.400
Single Platform Investm  1.130   5/1/2030  EUR 63.725
Credit Agricole Corpora 15.000  6/18/2026  TRY 71.801
Single Platform Investm  1.510  2/13/2043  EUR 65.263
UBS AG/London           16.500  7/22/2024  CHF 70.400
DZ Bank AG Deutsche Zen  1.850  2/19/2049  EUR 69.526
CDC Habitat SEM          1.700  3/21/2039  EUR 71.182
MBH Mortgage Bank Co PL  3.000  8/21/2030  HUF 68.650
NORD/LB Luxembourg SA C  0.542  9/30/2037  EUR 64.995
Land Berlin              0.500  6/19/2047  EUR 51.435
DZ Bank AG Deutsche Zen  1.000  2/18/2032  EUR 65.532
Erdoel-Lagergesellschaf  1.200   6/4/2043  EUR 61.989
Banco Espirito Santo SA  6.900  6/28/2024  EUR 19.241
Swedbank Hypotek AB      1.500  7/13/2048  EUR 68.939
CaixaBank SA             0.150 11/22/2027  EUR 74.187
Kingdom of Belgium Gove  0.558  9/24/2077  EUR 31.521
City of St Gallen        0.140  9/16/2044  CHF 72.220
Itas Istituto Trentino   5.000 12/17/2031  EUR 60.814
Autostrade per l'Italia  3.625   6/9/2038  EUR 73.906
Kommunekredit            0.100  9/30/2033  DKK 71.031
Natixis SA               2.420  9/29/2035  AUD 63.641
Department of Loiret Fr  0.500 10/30/2042  EUR 54.967
Credit Agricole Corpora  0.100 10/21/2030  EUR 73.476
Alpine Holding GmbH      6.000  5/22/2017  EUR  0.372
German Pellets GmbH      7.250   4/1/2016  EUR  0.815
Grupo Isolux Corsan SA   6.000 12/30/2021  EUR  0.673
Nederlandse Waterschaps  0.964  6/11/2059  EUR 51.408
Region Wallonne Belgium  1.135 10/10/2069  EUR 43.475
Landwirtschaftliche Ren  0.210  9/30/2033  EUR 74.536
Assistance Publique Hop  1.073  4/16/2045  EUR 59.249
Single Platform Investm  2.600  1/19/2038  NOK 69.918
Belfius Bank SA          1.561  4/27/2043  EUR 71.770
Deutsche Bahn Finance G  0.232  3/17/2032  EUR 73.909
Kuntarahoitus Oyj        1.400   3/5/2061  EUR 64.872
Landesbank Hessen-Thuer  0.550   4/1/2031  EUR 73.922
Landesbank Hessen-Thuer  1.250   4/7/2037  EUR 70.100
Societe Generale SA      0.831 11/25/2031  EUR 69.151
Grand Delta Habitat      1.630   3/6/2045  EUR 61.244
Grenke Finance PLC       0.819  2/15/2030  EUR 68.461
Credit Suisse AG/London 16.500   9/7/2023  CHF 32.840
Agence Francaise de Dev  1.833  2/26/2052  EUR 66.766
Credito Padano Banca di  3.100             EUR 36.103
Sovcombank Via SovCom C  3.400  1/26/2025  USD  2.610
SNCF Reseau              1.475  3/30/2065  EUR 48.897
Pongs & Zahn AG          8.500  11/1/2014  EUR  0.002
Purple Protected Asset   1.580  5/25/2060  EUR 39.581
NRW Bank                 0.106  8/17/2050  EUR 41.966
DZ Bank AG Deutsche Zen  1.000  2/13/2042  EUR 64.881
Agrokor dd               8.875   2/1/2020  USD 15.000
Nederlandse Waterschaps  0.750  10/4/2041  EUR 63.226
Landesbank Baden-Wuertt  0.690  10/8/2035  EUR 65.410
SG Issuer SA             0.350 11/15/2023  EUR 31.260
Mifa Mitteldeutsche Fah  7.500  8/12/2018  EUR  1.800
Affinity Water Finance   2.699 11/22/2033  GBP 69.638
NRW Bank                 1.000  2/26/2050  EUR 59.385
Thames Water Utilities   1.819  8/28/2049  GBP 71.829
SAir Group               6.250  4/12/2005  CHF 10.172
KPNQwest NV              8.875   2/1/2008  EUR  0.507
La Veggia Finance SA     7.125 11/14/2004  EUR  0.301
Nationwide Building Soc  1.573   5/7/2041  EUR 73.216
Banco Espirito Santo SA 10.000  12/6/2021  EUR  0.397
Swedbank Hypotek AB      1.490  8/15/2038  EUR 74.642
Societe Generale SFH SA  0.570  3/15/2036  EUR 70.362
Assistance Publique Hop  0.666  3/19/2040  EUR 61.957
Societe Generale SA     10.000  6/28/2034  USD 72.500
Raiffeisen Landesbank V  0.375 11/13/2034  EUR 71.269
Credit Agricole Corpora  3.100  4/28/2041  AUD 64.014
DekaBank Deutsche Giroz  0.230  4/22/2031  EUR 72.977
HSE Finance Sarl         9.531 10/15/2026  EUR 57.519
Ministeries Van de Vlaa  1.874  3/28/2058  EUR 58.264
Region de Bruxelles-Cap  1.620   2/8/2044  EUR 66.275
ING Groep NV             0.975  2/14/2034  EUR 66.820
State of North Rhine-We  1.850  3/18/2089  EUR 55.058
Societe Du Grand Paris   0.576 10/29/2052  EUR 40.052
Soc Nationale SNCF SACA  1.400  5/18/2120  EUR 32.825
Vasakronan AB            1.770 10/26/2033  NOK 67.665
Region Auvergne-Rhone-A  0.250 10/23/2034  EUR 68.548
Caisse Francaise de Fin  0.726 10/29/2039  EUR 63.645
Oberoesterreichische La  1.014  9/16/2049  EUR 39.968
Landesbank Hessen-Thuer  0.600  1/17/2035  EUR 73.500
Credit Bank of Moscow V  7.121  6/25/2024  USD 23.882
Landesbank Saar          0.540 11/18/2033  EUR 68.302
Rio Forte Investments S  4.000  7/22/2014  EUR  2.114
FLUVIUS System Operator  0.810   4/8/2033  EUR 69.828
Bilt Paper BV           10.360             USD  1.313
Single Platform Investm  2.000   2/1/2039  EUR 74.232
Kreditanstalt fuer Wied  1.208  3/10/2051  EUR 62.979
Nykredit Realkredit AS   1.182  1/17/2034  EUR 71.814
Regie Autonome des Tran  0.875  8/18/2080  EUR 34.914
BNG Bank NV              1.897 10/30/2048  EUR 71.484
Muenchener Hypothekenba  1.000   5/7/2035  EUR 69.842
Landeskreditbank Baden-  2.500  5/21/2036  AUD 69.677
Single Platform Investm  0.656  9/20/2050  EUR 50.472
NRW Bank                 1.000  6/24/2051  EUR 58.114
Vajda-Papir Gyarto Kere  3.500  5/17/2031  HUF 70.900
Anselma Issuer SA        1.574 12/31/2038  EUR 35.230
Single Platform Investm  0.830   8/6/2041  EUR 57.800
DZ Bank AG Deutsche Zen  0.190  1/14/2031  EUR 72.100
Soc Nationale SNCF SACA  2.503  1/14/2041  AUD 64.526
Assistance Publique Hop  0.630  7/30/2042  EUR 57.133
Nederlandse Waterschaps  0.190  11/2/2050  EUR 43.624
Uliving@Essex2 Issuerco  0.100  8/31/2063  GBP 60.155
Single Platform Investm  1.083  2/15/2041  EUR 62.009
Municipality of Arnhem   0.605  2/24/2040  EUR 64.523
Assistance Publique Hop  1.502   5/9/2044  EUR 67.550
Raiffeisen Bank zrt     11.597             EUR 67.884
Vasakronan AB            2.256  4/12/2044  EUR 71.912
Ukraine Government Bond  8.750  4/20/2033  UAH 25.894
National Grid Electrici  1.541  12/1/2056  GBP 70.043
Kommunalkredit Austria   0.570  9/15/2037  EUR 65.314
Suek Securities DAC      3.375  9/15/2026  USD 69.099
Severn Trent Utilities   1.523   8/1/2058  GBP 72.443
Barclays Bank PLC        1.637  4/12/2039  EUR 74.850
Societe Publique d'Admi  2.003  9/27/2044  EUR 72.302
Deutsche Wohnen SE       2.500  7/21/2034  EUR 72.959
National Grid Electrici  1.541  12/1/2053  GBP 71.011
Region de Bruxelles-Cap  1.286 12/17/2046  EUR 56.024
Aktia Bank Oyj           0.635 10/16/2035  EUR 63.158
SAir Group               4.250   2/2/2007  CHF 10.172
Sairgroup Finance BV     6.625  10/6/2010  EUR  0.250
Communaute Francaise de  0.500  6/27/2046  EUR 48.038
AKB Peresvet ZAO         0.510   8/4/2034  RUB 31.190
ALROSA Finance SA        3.100  6/25/2027  USD  6.629
Aareal Bank AG           1.125  6/28/2030  EUR 72.020
Lloyds Bank PLC          2.170  8/28/2038  EUR 67.909
Cie de Financement Fonc  0.900  7/18/2058  EUR 48.496
Vasakronan AB            2.400  6/20/2044  SEK 65.520
United Kingdom Gilt      0.250  7/31/2031  GBP 72.561
State of North Rhine-We  1.267  9/16/2051  EUR 61.880
Credit Agricole Corpora  2.850  9/15/2051  AUD 53.387
Cooperatieve Rabobank U  2.940  3/11/2036  AUD 74.468
State of Lower Austria   0.815  9/22/2056  EUR 46.413
Nordea Bank Abp          9.370  7/20/2029  SEK 72.330
BNG Bank NV              2.000   9/5/2058  EUR 67.391
Santander Consumer Bank  9.430             NOK 60.954
Norddeutsche Landesbank  0.650  8/26/2031  EUR 73.386
Kreditanstalt fuer Wied  1.171  7/19/2051  EUR 61.395
Banco Santander SA       0.790  9/30/2031  EUR 72.326
Alfa Bank AO Via Alfa B  5.500 10/26/2031  USD  0.617
UniCredit Bank Austria   0.150  4/29/2033  EUR 71.807
Die Schweizerische Post  0.180 12/14/2061  CHF 52.822
EnBW International Fina  2.080  1/21/2041  EUR 64.675
State of North Rhine-We  1.960  1/24/2079  EUR 66.414
Sparebanken Sor          7.970             NOK 73.977
Kreditanstalt fuer Wied  1.175  4/14/2051  EUR 62.386
Quintet Private Bank Eu  6.050  5/26/2026  USD 56.110
ACCIONA Financiacion Fi  1.900  6/28/2034  EUR 70.485
Region de Bruxelles-Cap  1.144  1/14/2056  EUR 46.174
Ukraine Government Bond 12.300   7/3/2024  UAH 71.046
MBH Mortgage Bank Co PL  3.000 10/22/2031  HUF 65.500
Santander Consumer Bank  2.620  6/18/2031  NOK 74.887
City of Amsterdam Nethe  0.490 12/16/2036  EUR 69.087
Credit Agricole Corpora 11.190  3/12/2027  TRY 60.047
Commune de Marseille     1.688  12/6/2038  EUR 74.861
Single Platform Investm  1.120  7/25/2045  JPY 66.556
Premium Green PLC        1.610  9/30/2030  AUD 74.025
Barclays Bank PLC        2.320  1/11/2041  USD 56.647
SG Issuer SA             1.600  6/26/2034  EUR 13.150
State of Lower Austria   0.585 10/11/2049  EUR 48.466
State of Bremen          0.500  6/14/2034  EUR 74.457
Alno AG                  8.000  3/21/2019  EUR 17.500
Lloyds Bank PLC          0.500  7/26/2028  MXN 60.067
Agrokor dd               9.125   2/1/2020  EUR 15.000
Erste Group Bank AG      1.230  5/29/2033  EUR 71.166
Citigroup Global Market  1.230  8/20/2039  EUR 62.076
Communaute Francaise de  0.788  8/30/2049  EUR 48.226
United Kingdom Inflatio  0.125  3/22/2068  GBP 71.522
SAir Group               5.500  7/23/2003  CHF 10.172
Ministeries Van de Vlaa  1.392 11/12/2041  EUR 64.743
Erste Group Bank AG      1.400   5/7/2034  EUR 69.369
Erste Group Bank AG      1.380   6/8/2032  EUR 73.964
Ukraine Government Bond  8.630  5/10/2033  UAH 25.527
Magyar Export-Import Ba  2.500  5/23/2029  HUF 70.449
Landesbeteiligungen Bad  1.450  6/15/2046  EUR 57.915
Landesbank Hessen-Thuer  1.000   3/9/2037  EUR 66.700
Department of Bouches d  0.500  10/5/2043  EUR 53.380
Elli Investments Ltd    12.250  6/15/2020  GBP 52.250
Serbia Treasury Bonds    1.500  3/26/2033  EUR 71.255
Credit Agricole Corpora  2.750 12/12/2034  AUD 71.848
Nykredit Realkredit AS   1.000  10/1/2050  DKK 70.386
Purple Protected Asset   1.598   2/5/2061  EUR 63.222
de Volksbank NV          1.552  4/12/2040  EUR 74.836
BPCE SA                  2.730  10/5/2036  AUD 62.091
Department of Gironde F  0.846  4/29/2039  EUR 65.860
Cie de Financement Fonc  1.760 11/15/2048  EUR 68.386
Single Platform Investm  1.920  11/5/2040  EUR 65.953
Single Platform Investm  1.233  6/25/2044  EUR 63.940
Italy Buoni Poliennali   0.150  5/15/2051  EUR 61.969
Single Platform Investm  0.815   4/1/2042  EUR 55.514
Single Platform Investm  2.290  7/19/2038  NOK 66.073
Ville de Paris           1.165   6/9/2053  EUR 50.506
Banco Santander SA       2.280  2/28/2039  EUR 71.351
Nationale-Nederlanden B  1.400  3/18/2039  EUR 73.143
HSBC Bank PLC            2.230   9/6/2047  EUR 63.550
Soc Nationale SNCF SACA  2.910  1/27/2051  AUD 61.434
Landesbank Hessen-Thuer  0.350  1/20/2031  EUR 72.780
Assistance Publique Hop  0.791  8/27/2051  EUR 47.131
Societe Generale SA      2.480  7/17/2040  USD 49.979
SALVATOR Vermoegensverw  9.500             EUR  7.900
Vasakronan AB            0.914  5/27/2030  EUR 67.063
Berlin Hyp AG            0.440 10/29/2035  EUR 58.467
Deutsche Bank AG         2.784   4/3/2034  EUR 70.638
BASF SE                  1.025  8/13/2048  JPY 66.729
Tonon Luxembourg SA      9.250  1/24/2020  USD  0.795
United Kingdom Gilt      1.500  7/22/2047  GBP 54.793
Department of Bouches d  0.810 12/16/2041  EUR 60.550
Hemso Fastighets AB      2.127  4/18/2039  EUR 62.273
Societe Generale SA     10.000  4/28/2034  USD 67.750
Republic of Ireland Int  1.320 11/28/2119  EUR 38.726
Turkiye Ihracat Kredi B 12.540  9/14/2028  TRY 53.700
DZ HYP AG                1.430 10/26/2046  EUR 61.786
Single Platform Investm  0.932  2/15/2041  EUR 59.437
BNG Bank NV              1.627  4/25/2046  EUR 71.218
Lloyds Bank PLC          2.520   9/4/2038  SEK 69.700
ECM Real Estate Investm  5.000  10/9/2011  EUR 15.375
DZ Bank AG Deutsche Zen  0.760  9/15/2033  EUR 69.916
United Utilities Water   1.591  9/25/2056  GBP 74.981
Autonomous Community of  1.089 10/31/2049  EUR 50.365
Pescanova SA             6.750   3/5/2015  EUR  0.840
Magyar Export-Import Ba  2.000 10/27/2027  HUF 70.063
Societe Wallonne de Fin  0.883 11/21/2044  EUR 52.989
City of Hanover Germany  1.580 11/17/2042  EUR 74.126
BPCE SA                  1.980  10/6/2030  AUD 74.115
BPCE SFH SA              1.295   6/8/2037  EUR 74.199
Belfius Bank SA          0.780  7/22/2036  EUR 71.132
New World Resources NV   4.000  10/7/2020  EUR  0.369
Credit Agricole Corpora 10.320  7/22/2026  TRY 62.123
Pescanova SA             5.125  4/20/2017  EUR  1.045
Societe Generale SA      2.700  3/17/2031  AUD 73.287
Ville de Paris           2.017  5/25/2052  EUR 66.926
Single Platform Investm  1.440  7/18/2042  EUR 64.423
Credit Suisse AG/London 20.000 11/29/2024  USD 13.880
Caisse des Depots et Co  1.106  9/30/2049  EUR 53.039
Communaute Francaise de  1.040  7/19/2101  EUR 42.265
Penarian Housing Financ  3.212   6/7/2052  GBP 66.932
Region Occitanie         0.766  10/7/2041  EUR 60.310
Comunidad Foral de Nava  1.450   5/8/2040  EUR 65.891
Citigroup Global Market  1.290  4/29/2025  EUR 74.100
Credit Agricole SA       3.610  4/20/2036  AUD 65.213
Nederlandse Waterschaps  1.650  5/27/2061  EUR 61.955
Single Platform Investm  1.250 10/18/2035  EUR 61.490
Societe Generale SA      3.920  12/9/2036  AUD 69.870
Region de Bruxelles-Cap  1.990 11/30/2050  EUR 62.683
Raiffeisen Switzerland   9.000   2/2/2024  EUR 74.770
Premium Green PLC        1.610  9/30/2030  AUD 74.025
VTB Bank PJSC           10.000             RUB 59.010
Citigroup Global Market  2.000  3/25/2039  EUR 71.004
MKB-Leasing OOO         10.500 10/12/2026  RUB 70.020
DZ Bank AG Deutsche Zen  1.070  10/6/2042  EUR 65.483
Raiffeisenlandesbank Ob  0.998  11/4/2033  EUR 70.405
French Republic Governm  0.500  5/25/2072  EUR 35.738
City of Gothenburg Swed  1.990  2/20/2045  SEK 70.071
Kreditanstalt fuer Wied  0.250  10/6/2036  CAD 51.354
Ministeries Van de Vlaa  1.053   6/3/2050  EUR 51.874
Romanian Government Int  3.375  1/28/2050  EUR 62.184
Grand Delta Habitat      1.500   9/1/2047  EUR 52.026
HPI AG                   3.500             EUR  3.010
Landesbank Hessen-Thuer  0.800  2/26/2035  EUR 66.951
Societe Wallonne de Fin  0.948 10/23/2051  EUR 48.872
Deutsche Apotheker-und   1.770 12/21/2046  EUR 72.771
DZ HYP AG                1.033  12/6/2049  EUR 54.278
Norske Skogindustrier A  7.125 10/15/2033  USD  0.010
Landesbank Saar          0.835  2/19/2035  EUR 67.818
VTB Bank PJSC            7.600   4/2/2031  RUB 65.010
Region Wallonne Belgium  0.808  6/24/2038  EUR 64.437
Cooperatieve Rabobank U  3.000  3/25/2036  AUD 74.930
Landesbank Hessen-Thuer  1.000  4/28/2036  EUR 66.056
Royal Schiphol Group NV  3.090   7/1/2034  AUD 72.976
LR Realkredit AS         0.500  10/1/2040  DKK 74.833
Landesbank Saar          0.710  12/6/2035  EUR 65.053
SiC Processing GmbH      7.125   3/1/2016  EUR  0.643
Single Platform Investm  2.040  2/15/2044  EUR 73.198
Assistance Publique Hop  0.683  3/19/2041  EUR 60.249
Caisse des Depots et Co  1.114  9/20/2049  EUR 54.364
Specialfastigheter Sver  1.280  9/20/2049  SEK 51.199
Purple Protected Asset   1.600   9/8/2056  EUR 47.833
BNG Bank NV              2.280 10/17/2048  SEK 72.939
Region Wallonne Belgium  1.246  5/12/2070  EUR 44.241
ING Bank NV              0.335  4/21/2036  EUR 67.556
Norddeutsche Landesbank  0.825  5/18/2033  EUR 69.312
UniCredit Bank AG        1.550  7/18/2031  EUR 70.970
Norddeutsche Landesbank  1.420  4/28/2039  EUR 61.422
Rikshem AB               2.137  1/29/2036  EUR 72.992
Region de Bruxelles-Cap  1.819  1/22/2048  EUR 66.546
Akademiska Hus AB        1.694 12/18/2045  EUR 74.552
NRW Bank                 0.600  1/28/2051  EUR 50.828
UBS Group AG             2.300  12/3/2035  AUD 65.633
Orpea SA                 2.564 11/30/2027  EUR 27.672
Single Platform Investm  0.946  5/25/2036  EUR 67.758
Landeskreditbank Baden-  0.547  2/18/2041  EUR 62.004
Assistance Publique Hop  1.850 12/21/2046  EUR 68.853
Premium Green PLC        1.630 12/30/2030  AUD 73.229
Landesbank Hessen-Thuer  1.000  8/27/2035  EUR 67.525
Region de Bruxelles-Cap  1.506  2/21/2039  EUR 71.990
HSBC Continental Europe  2.200  2/19/2049  EUR 67.677
Vasakronan AB            0.950  3/22/2039  JPY 71.914
Hypo Tirol Bank AG       1.090  1/21/2041  EUR 55.826
Landesbank Hessen-Thuer  0.850   9/2/2036  EUR 63.899
Landesbank Hessen-Thuer  0.650  9/16/2036  EUR 61.949
Vasakronan AB            1.130  5/27/2042  JPY 67.825
Landesbank Hessen-Thuer  1.450  7/10/2035  EUR 68.300
Republic of Ireland Int  0.810  7/10/2079  EUR 39.370
Lithuania Government In  0.500  7/28/2050  EUR 44.034
Lehman Brothers Treasur  5.666  10/5/2035  EUR  0.100
TransFin-M PAO          10.500  6/28/2027  RUB 60.000
CDC Habitat SEM          1.060  5/22/2036  EUR 69.011
BPCE SA                  2.550   6/9/2035  AUD 63.673
Jyske Realkredit A/S     0.500  10/1/2053  DKK 62.094
Grand Delta Habitat      1.500   9/1/2049  EUR 56.180
Single Platform Investm  0.695  6/25/2039  EUR 59.858
Landesbank Hessen-Thuer  1.000  9/24/2035  EUR 67.357
Muenchener Hypothekenba  0.300   9/6/2032  EUR 70.488
Land Thueringen          0.200  9/12/2039  EUR 60.654
Air Berlin Finance BV    6.000   3/6/2019  EUR  0.278
Single Platform Investm  0.924  2/18/2049  EUR 50.055
Bayerische Landesbank    0.710  12/1/2031  EUR 74.157
Russian Post FGUP        2.750  12/6/2023  RUB 60.070
Stichting Afwikkeling O  8.450  8/20/2018  USD 43.625
Espirito Santo Financia  5.050 11/15/2025  EUR  0.759
Intesa Sanpaolo Bank Ir  3.102 11/19/2035  AUD 65.342
Single Platform Investm  1.220 11/28/2033  EUR 74.802
Kommunekredit            1.336  10/1/2032  AUD 71.852
Steilmann SE             7.000  9/23/2018  EUR  1.429
Deutsche Bahn Finance G  1.520   7/3/2035  SEK 72.174
Ville de Paris           1.720  8/23/2047  EUR 67.207
O1 Properties Finance P  0.500  9/27/2028  USD  5.823
Landesbank Hessen-Thuer  0.600  2/18/2036  EUR 62.742
Kuntarahoitus Oyj        1.150  9/24/2051  EUR 64.755
Office Public De L'Habi  1.700 12/22/2060  EUR 68.205
DZ Bank AG Deutsche Zen  0.560 10/15/2032  EUR 70.355
Landesbank Hessen-Thuer  0.850 10/17/2034  EUR 68.230
NIBC Bank NV             2.105 10/10/2033  EUR 71.378
Gemeente Enschede Nethe  1.517 10/12/2043  EUR 71.894
Sparekassen Bredebro     3.750  4/15/2031  DKK 71.529
Muenchener Hypothekenba  1.420  4/20/2038  EUR 74.819
Lloyds Bank PLC          2.280  1/29/2044  EUR 63.917
Alfa Bank AO Via Alfa B  5.900             USD  7.634
Single Platform Investm  0.880  1/15/2040  EUR 61.245
Single Platform Investm  1.850  2/15/2041  NOK 59.465
Credit Agricole Corpora  1.000  1/31/2033  AUD 66.607
CDC Habitat SEM          0.814  2/15/2040  EUR 59.916
Landshypotek Bank AB     0.750  2/16/2033  SEK 72.779
Autonomous Community of  1.442 10/26/2049  EUR 55.500
Region de Bruxelles-Cap  1.000  4/21/2051  EUR 50.437
DZ Bank AG Deutsche Zen  0.550  3/23/2033  EUR 68.932
Deutsche Pfandbriefbank  0.480  5/19/2031  EUR 68.676
Premium Green PLC        1.630 12/30/2030  AUD 73.229
Single Platform Investm  1.080  7/18/2036  EUR 68.389
German Real Estate Capi  3.000             EUR 72.500
Instabank ASA i         11.570             NOK 71.522
CDC Habitat SEM          1.150  4/30/2037  EUR 68.616
BNP Paribas SA           3.580  7/23/2040  AUD 70.795
National Grid Electrici  2.500  7/24/2035  AUD 68.683
Barclays Bank PLC       10.200  2/14/2025  TRY 74.788
Aareal Bank AG           2.783  5/18/2037  EUR 67.315
Hypo Tirol Bank AG       0.740  5/29/2040  EUR 62.649
Ville de Paris           0.963   6/8/2050  EUR 51.309
Commerzbank AG           1.430  1/23/2040  EUR 63.679
Region Wallonne Belgium  1.865  5/10/2051  EUR 64.075
Commerzbank AG           1.046 12/18/2034  EUR 69.042
Mox Telecom AG           7.250  11/2/2017  EUR  2.270
Centrosolar Group AG     7.000  2/15/2016  EUR  2.505
Raiffeisen-Landesbank T  1.100 11/13/2036  EUR 57.641
Region de Bruxelles-Cap  0.845  9/30/2059  EUR 39.090
Netherlands Government   0.500  1/15/2040  EUR 68.173
Heta Asset Resolution A  4.458 12/31/2023  EUR  1.168
Lehman Brothers Treasur 13.500 11/28/2008  USD  0.100
Region de Bruxelles-Cap  0.256  2/26/2035  EUR 66.988
Premium Green PLC        1.650  3/28/2031  AUD 72.165
Hemso Fastighets AB      0.473  2/18/2030  EUR 72.734
Kommuninvest I Sverige   2.000 10/21/2041  SEK 71.800
Brussels Municipalities  0.832  3/29/2041  EUR 61.084
AKB Peresvet ZAO         0.510  2/14/2032  RUB  6.800
Uliving@Essex Issuerco   0.100  8/31/2058  GBP 63.385
SAir Group               0.125   7/7/2005  CHF 10.125
Deutsche Bank AG         2.348  8/15/2034  EUR 66.689
Deutsche Bank AG         2.267  8/25/2034  EUR 66.033
Windreich GmbH           6.750   3/1/2015  EUR  2.780
Single Platform Investm  1.013 12/20/2050  EUR 51.590
BNG Bank NV              0.632  7/12/2066  EUR 38.219
Landesbank Baden-Wuertt  0.300  3/17/2033  EUR 68.450
Assistance Publique Hop  1.913  4/22/2042  EUR 74.432
Ministeries Van de Vlaa  0.400 11/20/2043  EUR 52.357
Kreditanstalt fuer Wied  1.267  3/22/2051  EUR 63.960
SkyGreen Buildings Kft   3.000 12/29/2030  HUF 65.500
Landesbank Baden-Wuertt  0.140 10/20/2031  EUR 71.527
State of Rhineland-Pala  0.375  3/10/2051  EUR 46.128
Municipality of Almelo   0.210  9/14/2035  EUR 69.189
Hypo Tirol Bank AG       1.320  7/16/2041  EUR 62.785
Region Auvergne-Rhone-A  0.530  9/29/2036  EUR 66.421
CDC Habitat SEM          1.170   5/4/2037  EUR 68.833
Erste Group Bank AG      0.950   5/5/2035  EUR 62.100
Communaute Francaise de  2.350  8/18/2062  EUR 69.532
Assistance Publique Hop  1.795  3/30/2048  EUR 66.821
BNG Bank NV              1.603  3/19/2048  EUR 67.967
Agence Francaise de Dev  1.890 11/20/2048  EUR 70.071
SG Issuer SA             5.000   4/2/2024  EUR 53.210
Communaute Francaise de  1.760  1/26/2043  EUR 69.025
Single Platform Investm  1.000  7/15/2036  EUR 57.322
Oberbank AG              2.250   2/1/2039  EUR 63.567
Single Platform Investm  1.301  6/25/2044  EUR 60.455
Single Platform Investm  0.950  2/15/2044  EUR 56.852
Norddeutsche Landesbank  1.150  7/23/2036  EUR 64.128
NRW Bank                 1.276  2/15/2042  EUR 70.851
Single Platform Investm  1.860  2/15/2041  NOK 59.598
Natixis SA               3.550 11/12/2041  AUD 63.735
Santander International  1.192  12/7/2045  EUR 54.700
Department of Bouches d  0.467  12/8/2044  EUR 51.052
Department of Bouches d  0.490  12/8/2045  EUR 49.847
Metropole de Lyon        0.462  12/7/2045  EUR 49.440
Department of Bouches d  0.432   2/1/2046  EUR 48.763
Metropole de Lyon        0.466  12/7/2046  EUR 47.995
ACCIONA Financiacion Fi  3.000  12/2/2039  EUR 72.713
Department of Bouches d  0.445  12/8/2043  EUR 52.336
Region Bourgogne-Franch  0.397  12/3/2045  EUR 48.501
Department of L'Eure Fr  0.442 10/25/2045  EUR 49.328
Caisse des Depots et Co  3.000  11/8/2051  AUD 62.987
Bank Vontobel AG         8.250 11/27/2023  EUR 54.000
Flextronics Internation  3.600  12/6/2031  HUF 70.000
CDC Habitat SEM          0.853  2/15/2041  EUR 59.034
Single Platform Investm  2.125  1/15/2038  NOK 67.238
Norddeutsche Landesbank  1.350 10/20/2038  EUR 61.842
Bayerische Landesbank    0.280  10/9/2030  EUR 74.327
Region Auvergne-Rhone-A  0.645   4/9/2040  EUR 59.844
Single Platform Investm  0.885  7/24/2036  EUR 66.365
Republic of Ireland Int  1.230  6/23/2121  EUR 42.068
Berlin Hyp AG            0.460  10/7/2031  EUR 72.926
Kreditanstalt fuer Wied  1.115  5/17/2041  EUR 68.071
Department of Bouches d  0.981  5/14/2047  EUR 55.218
Department of Bouches d  1.068  5/21/2048  EUR 55.320
Single Platform Investm  1.060   4/1/2042  EUR 60.515
BNG Bank NV              0.562   6/7/2051  EUR 55.017
Grand City Properties S  2.600  2/25/2034  EUR 67.582
Credit Suisse AG/London 13.700  9/25/2023  USD 20.240
Muenchener Hypothekenba  0.030  1/14/2031  EUR 73.920
Muenchener Hypothekenba  0.300  1/27/2031  EUR 74.515
Landesbank Baden-Wuertt  0.290   8/6/2031  EUR 72.289
Ukraine Government Inte 12.520  5/13/2026  UAH 58.821
Cordia International In  3.000  7/27/2030  HUF 67.000
Landesbank Hessen-Thuer  1.200  8/28/2035  EUR 68.000
Batigere Grand Est SAHL  1.610 10/23/2040  EUR 66.218
Municipality of Eindhov  1.785  5/30/2047  EUR 73.070
Region Auvergne-Rhone-A  0.650  5/18/2038  EUR 63.165
DekaBank Deutsche Giroz  1.320  1/24/2045  EUR 58.884
Societe Generale SA      1.230  1/30/2035  EUR 71.828
Deutsche Bank AG/London  3.984 10/10/2042  USD 69.727
Lloyds Bank PLC          2.637  1/16/2040  AUD 65.713
Grand Delta Habitat      1.500   6/2/2045  EUR 59.086
Societe Wallonne de Fin  0.904 10/23/2047  EUR 50.983
Societe Wallonne de Fin  0.894 10/23/2045  EUR 52.477
Societe Generale SA      1.510 12/20/2044  EUR 61.985
Region Auvergne-Rhone-A  0.493 10/23/2037  EUR 63.602
SAir Group               6.250 10/27/2002  CHF 10.125
Norddeutsche Landesbank  1.200  9/18/2035  EUR 66.364
Kuntarahoitus Oyj        0.766 10/28/2048  EUR 60.331
Autonomous Community of  1.900  5/24/2039  EUR 73.716
BNG Bank NV              0.043  9/17/2033  EUR 69.619
Department of Bouches d  1.368   5/6/2044  EUR 64.628
Single Platform Investm  1.260  1/22/2049  EUR 56.830
Caisse des Depots et Co  1.548   8/9/2038  EUR 73.289
SR-Boligkreditt AS       1.252  12/2/2041  EUR 67.765
Communaute Francaise de  1.380  11/7/2046  EUR 60.423
DekaBank Deutsche Giroz  1.350 11/15/2044  EUR 59.450
Santander International  1.700 12/12/2049  EUR 45.804
Purple Protected Asset   2.085 10/27/2060  EUR 45.089
Societe Wallonne de Fin  1.066  9/18/2046  EUR 54.234
Ukraine Government Bond  9.700  12/8/2027  UAH 44.210
Ukraine Government Bond  9.000  7/17/2030  UAH 31.304
HH Finance PLC           5.000  5/19/2028  EUR 60.050
Ukraine Government Bond  8.120 11/10/2035  UAH 22.597
Ukraine Government Bond  8.880  5/10/2032  UAH 27.341
Single Platform Investm  1.220  8/24/2047  EUR 51.727
Bank Vontobel AG        20.000 11/27/2023  CHF 28.900
Kingdom of Belgium Gove  1.600  6/22/2047  EUR 69.224
Caisse Francaise de Fin  1.720  11/6/2047  EUR 68.770
Single Platform Investm  2.160  2/15/2044  EUR 73.776
Region Auvergne-Rhone-A  1.150   4/8/2039  EUR 68.506
BNG Bank NV              1.040 11/28/2047  EUR 59.241
Nordea Eiendomskreditt   2.200  6/17/2043  NOK 70.879
Specialfastigheter Sver  1.120  2/19/2044  SEK 56.016
Nederlandse Waterschaps  1.675  4/26/2046  EUR 71.962
Department of L'Eure Fr  0.959 11/25/2037  EUR 70.117
Municipality of Eindhov  1.246 10/18/2046  EUR 65.022
NRW Bank                 0.550  7/23/2035  EUR 72.126
Region Auvergne-Rhone-A  0.697   8/2/2036  EUR 68.368
Agence France Locale     0.586  6/20/2034  EUR 71.585
Argentum Capital SA      1.377  5/25/2034  EUR 69.625
Lehman Brothers Treasur 10.000  3/27/2009  USD  0.100
Severn Trent Utilities   1.500 10/20/2056  GBP 72.730
Autonomous Community of  0.810 10/31/2040  EUR 58.758
Orpea SA                 2.300   3/6/2025  EUR 27.548
Espirito Santo Financia  4.809 10/27/2024  EUR  0.001
Single Platform Investm  1.105  1/18/2040  EUR 62.914
Collectivite Europeenne  0.487  10/9/2045  EUR 50.055
Department of Bouches d  0.482 10/20/2045  EUR 49.935
Single Platform Investm  0.835 10/14/2061  EUR 42.702
Heta Asset Resolution A  4.007 12/31/2023  EUR  1.168
Moby SpA                 7.750  2/15/2023  EUR 60.090
Commerzbank AG           1.400  7/21/2031  EUR 73.351
Region Provence-Alpes-C  0.785  6/18/2040  EUR 60.771
Region Wallonne Belgium  1.220  6/12/2050  EUR 54.312
Banque Internationale a  0.670  6/29/2030  EUR 74.814
Elli Finance UK PLC      8.750  6/15/2019  GBP 42.613
Region Auvergne-Rhone-A  0.805  7/26/2039  EUR 64.043
Vasakronan AB            1.700  6/28/2044  EUR 41.745
Single Platform Investm  0.870  6/20/2043  EUR 56.329
Single Platform Investm  0.950  5/17/2038  EUR 64.292
Societe Generale SA      1.700  1/19/2031  USD 71.896
Orpea SA                 2.770 12/18/2028  EUR 27.679
Metropole de Lyon        0.500 12/28/2048  EUR 45.602
Purple Protected Asset   1.518  1/25/2061  EUR 62.234
Purple Protected Asset   1.565 12/23/2060  EUR 59.826
Department of Loiret Fr  0.550 12/18/2045  EUR 50.689
Metropole de Lyon        0.500 12/28/2049  EUR 44.274
UBS AG/London           16.300   1/8/2024  EUR 26.040
Metropole de Lyon        0.376 12/22/2044  EUR 49.690
Senvion Holding GmbH     3.875 10/25/2022  EUR  0.145
BKS Bank AG              1.390  1/19/2032  EUR 74.337
Caisse des Depots et Co  2.205  9/28/2041  AUD 60.889
Centre Hospitalier Regi  0.800  6/28/2041  EUR 61.230
Credit Agricole SA       3.270  10/5/2041  AUD 58.233
Single Platform Investm  2.600  7/30/2036  NOK 71.713
AutoWallis Nyrt          3.000  7/27/2031  HUF 66.800
Hungary Government Bond  4.000  4/28/2051  HUF 60.559
Bausparkasse Wuestenrot  1.830   4/3/2043  EUR 73.817
Nostrum Oil & Gas Finan  7.000  2/16/2025  USD 27.496
Credit Suisse AG/London  5.200 11/27/2023  USD  9.780
Parnassia Groep BV       1.430  12/1/2043  EUR 63.612
DNB Boligkreditt AS      1.530  1/25/2039  EUR 74.301
Vasakronan AB            2.533  1/28/2044  EUR 46.881
Single Platform Investm  2.150   8/5/2036  NOK 66.766
Assistance Publique Hop  0.750  12/3/2041  EUR 61.176
Landesbank Baden-Wuertt  0.660  11/9/2034  EUR 67.379
Single Platform Investm  1.830  11/5/2040  EUR 64.622
Single Platform Investm  1.390  6/25/2044  EUR 62.522
Societe Generale SA      2.000  2/26/2033  USD 72.107
MFB Magyar Fejlesztesi   4.200  4/20/2033  HUF 74.349
Raiffeisen Schweiz Geno  7.700  11/8/2023  CHF 34.030
Brussels Municipalities  0.336 12/15/2035  EUR 66.990
Credit Industriel Et Co  0.900   2/4/2041  EUR 58.889
Landesbank Baden-Wuertt  0.100   3/5/2031  EUR 73.144
Grand Delta Habitat      1.750 10/28/2061  EUR 67.719
BPCE SA                  2.250  3/13/2040  AUD 51.191
Banque Internationale a  0.600   8/6/2030  EUR 74.270
Regie Autonome des Tran  0.953  5/24/2052  EUR 51.969
Saastopankkien Keskuspa  0.860  1/18/2036  EUR 64.212
Landesbank Baden-Wuertt  0.150  9/20/2030  EUR 73.907
Credit Suisse AG/London  0.900 12/20/2031  EUR 73.185
Landesbank Hessen-Thuer  0.750 11/17/2036  EUR 66.700
Bazalgette Finance Plc   0.174  5/16/2049  GBP 57.985
Agence France Locale     0.570  9/20/2040  EUR 60.817
Norske Skog Holding AS   8.000  2/24/2023  USD  0.006
Nordea Hypotek AB        0.793 10/22/2032  SEK 74.257
Lehman Brothers Treasur  5.666  3/16/2035  EUR  0.100
Rosbank PJSC             0.010  4/30/2024  RUB 63.000
Rosbank PJSC             0.020  4/30/2024  RUB 63.000
Officine Maccaferri-SpA  5.750   6/1/2021  EUR 16.625
United Utilities Water   1.474  8/24/2031  USD 71.057
Luminis SA               1.800   9/2/2059  EUR 42.832
LR Realkredit AS         0.500  10/1/2050  DKK 63.380
Deutsche Pfandbriefbank  0.857  9/18/2037  EUR 53.580
Deutsche Telekom AG      3.500   9/6/2039  AUD 72.144
Nomura Bank Internation  1.138 12/19/2039  EUR 55.967
SG Issuer SA             2.250 10/28/2029  EUR 72.120
Erste Group Bank AG      0.770 11/13/2033  EUR 66.113
Commerzbank AG           1.219 12/12/2039  EUR 63.056
Oberbank AG              2.280  6/22/2038  EUR 64.749
IBP Markets Ltd          5.000             GBP 50.514
Zurcher Kantonalbank Fi  4.800  12/8/2023  CHF 61.420
Landesbank Hessen-Thuer  0.500   2/2/2032  EUR 71.719
Bayerische Landesbank    1.620   4/8/2036  EUR 72.552
Caisse des Depots et Co  1.767  9/28/2048  EUR 65.559
Commerzbank AG           1.155  3/16/2038  EUR 73.405
Avanti Communications G  9.000  10/1/2022  USD 14.250
Landesbank Hessen-Thuer  0.900  5/12/2036  EUR 65.069
Windreich GmbH           6.500   3/1/2015  EUR  2.780
Single Platform Investm  1.715   2/6/2037  EUR 74.715
SpareBank 1 SR-Bank ASA  0.970  10/9/2040  EUR 53.844
New World Resources NV   8.000   4/7/2020  EUR  0.105
Societe Generale SA      4.039 11/26/2034  USD 63.268
Nederlandse Waterschaps  1.950  8/29/2058  EUR 68.396
Grupo Isolux Corsan SA   1.000 12/30/2021  EUR  0.157
Single Platform Investm  0.960  7/22/2038  EUR 63.294
Leonteq Securities AG/G 20.200 11/14/2023  CHF 28.840
Single Platform Investm  1.413  3/20/2051  EUR 58.133
STAVMAT Epitoanyag Kere  3.000  7/20/2031  HUF 72.400
Spain Government Bond    0.850  7/30/2037  EUR 68.243
NRW Bank                 1.245  11/4/2051  EUR 61.850
ABN AMRO Bank NV         1.575  1/25/2040  EUR 73.660
Agence Francaise de Dev  1.790   2/8/2049  EUR 68.372
Societe Du Grand Paris   2.145 11/26/2068  EUR 60.554
Erste Group Bank AG      1.850  1/30/2034  EUR 73.013
NIBC Bank NV             0.660  7/14/2031  EUR 68.370
Republic of Ireland Int  1.250  10/8/2121  EUR 43.114
Unibail-Rodamco-Westfie  2.000  12/5/2033  EUR 73.569
Regie Autonome des Tran  0.938  5/25/2050  EUR 51.712
Republic of Ireland Int  1.200  4/15/2120  EUR 40.596
Berlin Hyp AG            0.750   3/4/2050  EUR 53.939
SG Issuer SA             2.270   2/4/2032  EUR 62.770
Muenchener Hypothekenba  1.003   3/9/2060  EUR 49.709
Caisse Francaise de Fin  1.428  2/19/2049  EUR 63.311
Belfius Bank SA          0.190  1/28/2031  EUR 73.600
Berlin Hyp AG            0.110  1/20/2031  EUR 73.167
NRW Bank                 1.235 12/16/2061  EUR 55.130
Credit Agricole Corpora  2.400  5/17/2048  EUR 50.822
BNP Paribas SA           3.590  7/20/2040  AUD 66.209
Ukraine Government Inte  7.253  3/15/2035  USD 27.636
Cooperatieve Rabobank U  0.540   8/3/2040  EUR 60.011
Veneto Banca SpA         6.944  5/15/2025  EUR  0.708
United Kingdom Gilt      0.500 10/22/2061  GBP 29.359
Barclays Bank PLC        2.820   6/2/2035  USD 71.539
Vnesheconombank Via VEB  6.025   7/5/2022  USD  7.295
BNP Paribas SA           0.500 11/16/2032  MXN 37.821
Orient Express Bank PJS  2.000             USD 13.372
Pannonia Bio Ltd         2.400  9/18/2029  HUF 72.850
State of Hesse           0.450  9/23/2044  EUR 53.601
DZ HYP AG                1.965  7/19/2058  EUR 64.965
State of Rhineland-Pala  0.375  7/20/2048  EUR 47.237
JP Morgan Structured Pr  5.000  7/14/2027  USD #N/A N/A
Ukraine Government Bond  8.520 11/10/2033  UAH 24.795
Ukraine Government Bond  9.760  7/23/2031  UAH 30.892
Ukraine Government Bond 19.750  5/21/2025  UAH 72.353
Lehman Brothers Treasur  0.250 10/19/2012  CHF  0.100
Zurcher Kantonalbank Fi  5.450  12/8/2023  USD 60.970
Deutsche Pfandbriefbank  0.710  9/10/2031  EUR 69.261
Nederlandse Waterschaps  1.610  12/4/2052  EUR 66.929
Bayerische Landesbank    3.550 10/14/2036  EUR 71.440
Lehman Brothers Treasur  3.700   6/6/2009  EUR  0.100
Lehman Brothers Treasur  4.500   8/2/2009  USD  0.100
Lehman Brothers Treasur  7.375  9/20/2008  EUR  0.100
Lehman Brothers Treasur 10.500   8/9/2010  EUR  0.100
Lehman Brothers Treasur  5.750  6/15/2009  CHF  0.100
Lehman Brothers Treasur 11.000  6/29/2009  EUR  0.100
Lehman Brothers Treasur  8.000   8/3/2009  USD  0.100
Trans-Sped Logisztikai   2.500  3/16/2030  HUF 72.620
SpareBank 1 SMN          0.190  11/6/2030  EUR 73.456
Kommunekredit            0.869 11/12/2043  SEK 58.082
Agence France Locale     0.210 12/20/2035  EUR 66.642
Kreditanstalt fuer Wied  1.110  7/13/2046  EUR 65.317
DZ HYP AG                1.300  7/18/2041  EUR 68.007
Barclays Bank PLC        3.130   4/9/2051  USD 59.005
EFG International Finan  6.120  7/11/2024  EUR  1.690
BNP Paribas SA           1.050  3/29/2036  EUR 67.036
Norddeutsche Landesbank  0.850  12/7/2035  EUR 62.825
Landesbank Baden-Wuertt  0.430  12/9/2030  EUR 74.918
Golden Gate GmbH         6.500 10/11/2014  EUR 36.200
Leonteq Securities AG/G 28.880 11/17/2023  CHF 64.700
Societe Generale SA     15.000  9/29/2025  USD 12.100
Renovables Atlasol SA    2.200 12/31/2038  EUR 68.691
Region Wallonne Belgium  1.130  3/28/2036  EUR 73.745
Santander Consumer Bank  9.430             NOK 60.954
Baromfi-Coop Termelo Es  3.000  7/19/2031  HUF 71.900
Penarian Housing Financ  3.212   6/7/2052  GBP 66.754
State of Saxony-Anhalt   0.475  9/30/2050  EUR 49.376
Kommunalkredit Austria   1.055  10/6/2031  EUR 71.844
ING Bank NV              0.465  4/21/2041  EUR 61.351
Single Platform Investm  0.800 12/20/2040  EUR 61.540
Landesbank Baden-Wuertt  0.510  4/15/2031  EUR 74.507
State of Lower Austria   1.800   3/9/2043  EUR 73.595
State of Lower Austria   1.886   3/2/2048  EUR 71.235
Parnassia Groep BV       1.470  12/1/2045  EUR 61.983
Ile-de-France Mobilites  1.000  12/2/2043  EUR 60.618
Batigere Grand Est SAHL  1.500 12/15/2051  EUR 55.326
Commerzbank AG           2.350  2/24/2042  EUR 74.187
Single Platform Investm  0.767  2/15/2041  EUR 58.585
Muenchener Hypothekenba  0.145  2/26/2031  EUR 74.414
Hell Energy Magyarorsza  3.000  7/28/2031  HUF 73.600
Serbia Treasury Bonds    2.250  2/26/2041  EUR 62.961
Caisse des Depots et Co  2.940   3/2/2051  AUD 62.434
Muenchener Hypothekenba  0.550  2/18/2046  CHF 66.613
State of North Rhine-We  0.200  7/17/2034  EUR 72.412
SpareBank 1 Boligkredit  1.490 12/14/2038  EUR 73.819
SpareBank 1 SR-Bank ASA  1.020  10/8/2036  EUR 61.973
Premium Green PLC        1.650  3/28/2031  AUD 72.466
Communication Technolog  5.250  1/27/2032  HUF 65.000
LP Portfolio Vagyonkeze  3.400  9/23/2031  HUF 62.250
Grand City Properties S  2.800  2/25/2039  EUR 60.763
HSBC Continental Europe  2.200  2/27/2049  EUR 67.561
Raiffeisenlandesbank Ob  1.900  8/21/2037  EUR 63.968
UBS AG/London            5.000   9/8/2023  CHF 56.600
UBS AG/London           11.500  10/6/2023  CHF 74.000
DZ Bank AG Deutsche Zen  0.800  1/21/2041  EUR 62.285
Landesbank Baden-Wuertt  0.080  2/12/2031  EUR 73.204
Erste Group Bank AG      4.500  8/31/2025  EUR 72.400
DZ Bank AG Deutsche Zen  0.400   9/1/2033  EUR 72.755
Region Wallonne Belgium  2.100  6/26/2048  EUR 69.559
Akademiska Hus AB        2.305  5/16/2040  SEK 74.140
Bazalgette Finance Plc   0.074  5/16/2049  GBP 60.755
Societe Wallonne de Fin  0.913  7/31/2040  EUR 60.808
Norske Skog Holding AS   8.000  2/24/2023  USD  0.006
Batigere Grand Est SAHL  1.600 11/14/2039  EUR 67.859
Republic of Ireland Int  2.000  6/29/2063  EUR 67.645
Tonon Luxembourg SA     12.500  5/14/2024  USD  0.001
State of North Rhine-We  1.650  5/16/2047  EUR 71.236
Bothwell Spain SA        2.637  6/30/2038  EUR 71.281
DNB Boligkreditt AS      1.533  1/27/2042  EUR 71.501
Agence Francaise de Dev  2.360  1/30/2045  AUD 58.521
Ministeries Van de Vlaa  1.564 11/12/2046  EUR 64.021
Lloyds Bank PLC          2.480   7/5/2038  SEK 69.980
Thomas Cook Group PLC    6.250  6/15/2022  EUR  0.499
Deutsche Apotheker-und   1.090 12/16/2039  EUR 59.134
Heta Asset Resolution A  5.270 12/31/2023  EUR  1.168
Societe Du Grand Paris   1.955  4/16/2069  EUR 58.668
HSBC Continental Europe  2.136  5/25/2038  EUR 73.755
Ukraine Government Bond  8.420  5/10/2034  UAH 24.168
Societe Generale SA      9.640  9/12/2024  USD 49.900
Landesbank Hessen-Thuer  0.500 10/14/2031  EUR 73.441
Spain Government Bond    1.000  7/30/2042  EUR 60.870
Kreditanstalt fuer Wied  1.201  9/13/2051  EUR 61.650
EFG International Finan 10.000  9/20/2023  USD 57.680
Municipality of Eindhov  1.134 10/18/2066  EUR 64.786
Communaute Francaise de  2.000  4/14/2076  EUR 63.463
Raiffeisen Landesbank V  2.000  8/28/2048  EUR 72.287
Irish Bank Resolution C  6.750 11/30/2013  BGN 33.250
Landesbank Hessen-Thuer  1.500  1/20/2037  EUR 63.150
Credit Mutuel Arkea SA   2.060  9/21/2038  EUR 70.671
Norddeutsche Landesbank  1.600   8/1/2039  EUR 63.387
Nederlandse Waterschaps  1.551 11/24/2061  EUR 62.157
Centre Hospitalier Univ  1.160   9/6/2039  EUR 63.936
Irish Bank Resolution C  4.000  4/23/2018  EUR 33.250
DLR Kredit A/S           0.500  10/1/2053  DKK 63.393
Berlin Hyp AG            0.130  9/29/2032  EUR 74.195
Saastopankkien Keskuspa  0.840 10/22/2035  EUR 64.417
Norske Skogindustrier A  2.000 12/30/2115  EUR  0.367
HYPO NOE Landesbank fue  2.950   6/7/2046  EUR 74.145
Transports publics frib  0.500  6/27/2041  CHF 74.245
State of North Rhine-We  0.880  7/12/2040  EUR 67.825
BNP Paribas SA           0.500  9/29/2029  AUD 70.156
Batigere Grand Est SAHL  2.030  5/29/2070  EUR 67.411
Danske Bank A/S          0.805  8/12/2036  EUR 70.349
Caisse Francaise de Fin  1.555  2/12/2042  EUR 71.329
Sparkasse Oberoesterrei  0.200  3/22/2033  EUR 73.507
Assistance Publique Hop  0.800  3/23/2046  EUR 54.004
NRW Bank                 1.070  3/10/2051  EUR 59.466
Landesbank Baden-Wuertt  0.060  1/20/2031  EUR 73.284
Hypo Vorarlberg Bank AG  0.400 12/22/2031  EUR 68.623
Single Platform Investm  2.000   2/1/2039  EUR 73.991
Vnesheconombank Via VEB  5.942 11/21/2023  USD  9.666
Credit Agricole Corpora  0.900  10/1/2034  EUR 67.521
State of Lower Austria   0.460  10/8/2049  EUR 45.836
Region Wallonne Belgium  1.225   9/2/2120  EUR 34.350
Stadt Graz               1.824 10/31/2047  EUR 69.532
Landesbank Baden-Wuertt  0.150  8/11/2031  EUR 72.078
Nordea Hypotek AB        2.250 10/15/2048  SEK 70.598
Nomura Bank Internation  1.150  10/6/2036  EUR 64.127
Ile-de-France Mobilites  1.200   4/8/2050  EUR 55.027
Region Wallonne Belgium  1.550  4/28/2120  EUR 40.363
Landeskreditbank Baden-  0.730  10/4/2050  EUR 53.747
Landesbank Baden-Wuertt  0.200   5/7/2031  EUR 73.230
Corner Banca SA         22.000  3/20/2024  CHF 54.640
Bayerische Landesbank    0.150   4/9/2031  EUR 73.669
Bayerische Landesbank    0.590  5/27/2031  EUR 74.552
Deutsche Bank AG         0.650   6/3/2031  EUR 71.710
UBS AG/London           12.250  3/11/2024  CHF 32.500
Muenchener Hypothekenba  0.867  2/25/2047  EUR 58.755
Barclays Bank PLC        4.100  1/29/2048  USD 70.961
Caisse des Depots et Co  1.780  1/15/2048  EUR 66.048
Alfa-Bank AO            10.200  2/10/2025  RUB 65.000
Hamburgische Investitio  0.380  2/24/2042  EUR 59.574
Landwirtschaftliche Ren  1.365  3/10/2042  EUR 72.515
Santander International  1.100  12/7/2040  EUR 58.269
Landesbank Baden-Wuertt  0.460 12/30/2030  EUR 74.948
Single Platform Investm  3.505   8/6/2046  AUD 58.359
Liga Bank eG Regensburg  0.010  1/29/2036  EUR 63.048
Kreditanstalt fuer Wied  0.600  2/16/2051  EUR 51.780
Portugal Obrigacoes do   1.000  4/12/2052  EUR 52.503
Bayerische Landesbank    0.450  2/12/2031  EUR 74.182
Caisse Francaise de Fin  1.670  12/7/2048  EUR 67.316
Societe Generale SA      2.750  3/12/2040  AUD 52.917
BNP Paribas SA           1.660   3/4/2031  USD 72.617
Region de Bruxelles-Cap  1.225  6/21/2070  EUR 39.875
Zurcher Kantonalbank Fi 17.000   9/4/2023  EUR 47.740
Nomura Bank Internation  1.380  1/19/2037  EUR 66.440
Standard Chartered Bank  3.040  1/18/2042  USD 68.917
Landesbank Baden-Wuertt 10.000  1/26/2024  EUR 34.640
Landesbank Baden-Wuertt  0.300  6/18/2031  EUR 73.519
MMB SCF SACA             1.500   3/1/2039  EUR 74.269
Raiffeisen-Landesbank T  0.550  1/20/2031  EUR 71.487
Barclays Bank PLC        2.230  1/26/2036  USD 65.254
Societe Generale SA      1.950 10/22/2031  USD 74.730
Bayerische Landesbank    0.020  1/28/2031  EUR 73.663
Specialfastigheter Sver  2.375  6/25/2048  SEK 70.404
Credit Agricole Corpora  2.090   5/9/2038  EUR 73.979
Leonteq Securities AG/G 24.000  12/5/2023  CHF 72.100
Russian Foreign Bond -   5.250  6/23/2047  USD 36.976
UniCredit SpA            1.490 10/23/2035  EUR 69.436
Virgolino de Oliveira F 10.875  1/13/2020  USD 36.000
Lithuania Government In  2.100  5/26/2047  EUR 73.756
B+N Referencia Ipari Ke  2.900 12/20/2029  HUF 70.800
BPCE SA                  2.820 12/18/2039  AUD 57.105
Kraus-M ZAO             10.000 12/10/2026  RUB 60.050
Natixis SA               3.210  1/29/2050  AUD 53.712
Ville de Paris           1.200  6/25/2039  EUR 69.803
Joh Friedrich Behrens A  6.250  6/18/2024  EUR  8.453
Lloyds Bank PLC          2.450  7/23/2048  EUR 64.152
Landesbank Baden-Wuertt  0.200  3/26/2031  EUR 73.592
Bayerische Landesbank    0.820 11/29/2033  EUR 70.840
Bayerische Landesbank    0.870 11/29/2034  EUR 69.214
DZ Bank AG Deutsche Zen  0.910  6/25/2029  EUR 72.370
Bayerische Landesbank    0.900 11/29/2035  EUR 67.514
Kreditanstalt fuer Wied  0.935 12/16/2039  EUR 69.590
Norddeutsche Landesbank  1.000 10/26/2035  EUR 64.398
Bayerische Landesbank    1.690  4/23/2037  EUR 73.389
Credit Agricole SA/Lond  1.770  4/26/2035  EUR 73.506
Barclays Bank PLC        1.150  9/27/2034  EUR 71.917
Santander International  1.180  12/5/2034  EUR 71.100
Agence Francaise de Dev  2.114   9/8/2034  AUD 71.933
Communaute Francaise de  1.815  3/26/2049  EUR 65.387
Ukraine Government Bond 11.870   1/6/2027  UAH 55.110
Banca Popolare di Vicen  9.500  10/2/2025  EUR  0.380
DZ Bank AG Deutsche Zen  2.400  6/28/2024  EUR 73.610
BPCE SA                  2.450  2/24/2035  AUD 63.549
HSBC Continental Europe  2.040  3/29/2049  EUR 64.752
UBS AG                  10.000 10/19/2023  USD 61.290
Republic of Poland Gove  2.000 10/25/2046  EUR 67.568
Landesbank Hessen-Thuer  1.500  8/23/2034  EUR 68.600
BNP Paribas Issuance BV  3.000  3/14/2033  EUR 41.340
LSF9 Balta Issuer SARL   3.000 12/31/2030  EUR 63.817
DZ Bank AG Deutsche Zen  0.700 11/30/2035  EUR 64.041
Serbia Treasury Bonds    2.300  3/18/2047  EUR 57.954
Lehman Brothers Treasur  4.680 12/12/2045  EUR  0.100
Portugal Telecom Intern  5.242  11/6/2017  EUR  0.694
Barclays Bank PLC        1.630 11/16/2030  USD 74.910
Grand Delta Habitat      1.285  11/6/2040  EUR 62.499
LFA Foerderbank Bayern   0.050  9/29/2034  EUR 70.018
Bayerische Landesbank    0.800 10/16/2036  EUR 65.333
Muenchener Hypothekenba  0.270 10/19/2035  EUR 67.608
Kreditanstalt fuer Wied  0.613  6/10/2040  EUR 61.797
Landesbank Baden-Wuertt  0.980  7/15/2032  EUR 74.801
Santander International  1.150   4/8/2041  EUR 57.579
Landesbank Baden-Wuertt  0.500  4/16/2031  EUR 74.437
Landesbank Saar          0.670  3/10/2034  EUR 68.882
Leonteq Securities AG/G 16.000 12/20/2023  GBP 62.560
UBS AG/London            8.440  5/26/2027  SEK 71.320
French Republic Governm  0.500  6/25/2044  EUR 57.352
Single Platform Investm  1.650   6/3/2038  EUR 71.504
Landesbank Baden-Wuertt  0.350  1/20/2031  EUR 74.119
AB Financial Products D  3.714  7/30/2040  EUR 64.469
Portugal Obrigacoes do   1.150  4/11/2042  EUR 66.015
Caisse des Depots et Co  1.075  9/15/2050  EUR 51.998
BNP Paribas Issuance BV  1.560   2/2/2039  EUR 55.400
Region Wallonne Belgium  2.057 10/19/2043  EUR 71.597
Nederlandse Waterschaps  1.928 10/23/2048  EUR 74.511
Santander Consumer Bank  9.430             NOK 60.954
Landesbank Hessen-Thuer  0.750  8/18/2036  EUR 63.036
Landesbank Hessen-Thuer  1.000  8/19/2036  EUR 62.750
Progressio Infrastructu  1.250  4/25/2033  EUR 74.819
Landesbank Hessen-Thuer  0.500  8/20/2031  EUR 73.778
UBS AG/London           14.500 10/13/2023  USD 54.450
Single Platform Investm  1.785  7/30/2042  EUR 68.856
Single Platform Investm  1.150  8/17/2033  EUR 74.398
Liga Bank eG Regensburg  0.680  3/17/2036  EUR 64.335
Single Platform Investm  0.930   7/2/2041  EUR 59.276
Assistance Publique Hop  1.183  4/16/2050  EUR 55.031
Purple Protected Asset   2.100  4/15/2060  EUR 42.425
CDC Habitat SEM          1.043  5/12/2036  EUR 68.865
Citigroup Global Market  1.010 10/28/2035  EUR 66.511
Single Platform Investm  0.810   4/1/2042  EUR 57.054
Credit Mutuel Arkea SA   1.555  5/14/2035  EUR 72.136
Landesbank Baden-Wuertt  1.100   5/7/2040  EUR 60.413
Caisse des Depots et Co  1.300  4/28/2051  EUR 54.951
Single Platform Investm  2.070   6/1/2040  NOK 62.629
DZ Privatbank SA         0.360  4/29/2031  EUR 74.834
Landesbank Saar          0.890   9/4/2034  EUR 69.358
Single Platform Investm  2.450  6/10/2037  NOK 69.297
State of North Rhine-We  2.000  4/16/2038  SEK 73.485
Cie de Financement Fonc  1.887  1/31/2049  EUR 70.374
Citigroup Global Market  2.000  3/21/2037  EUR 73.825
BNP Paribas SA           2.100  1/24/2039  EUR 74.007
BKS Bank AG              1.500  3/18/2032  EUR 74.478
Banque Internationale a  0.750  4/15/2031  EUR 73.080
Ingrad AO               11.000  2/27/2030  RUB 63.000
Region Bourgogne-Franch  0.799   5/6/2041  EUR 61.476
Region Bourgogne-Franch  0.841  5/12/2037  EUR 66.325
Nordea Bank Abp          3.050  7/20/2026  SEK 70.000
Single Platform Investm  1.960   8/1/2034  NOK 70.103
Denmark Government Bond  0.250 11/15/2052  DKK 49.350
Agence Francaise de Dev  1.950 11/19/2053  EUR 63.595
Department of Bouches d  0.872 12/18/2037  EUR 69.027
Single Platform Investm  1.480  7/25/2053  EUR 59.202
Barclays Bank PLC        2.975  2/21/2025  USD  9.987
Region Bourgogne-Franch  0.895  5/20/2038  EUR 68.354
Natixis SA               0.300  6/25/2048  USD 29.048
Centre Hospitalier Beau  0.950   2/5/2041  EUR 60.114
Oberoesterreichische La  0.705  1/29/2036  EUR 56.323
Oberoesterreichische La  0.460   2/3/2031  EUR 70.729
Region of Pays de la Lo  0.924  11/4/2044  EUR 57.710
Kreditanstalt fuer Wied  0.965   3/2/2046  EUR 60.489
Credit Agricole SA       3.450   3/4/2041  AUD 53.191
Single Platform Investm  0.940  10/4/2041  EUR 59.011
Deutschsprachige Gemein  1.004   7/1/2036  EUR 72.294
Bank fuer Kirche und Ca  0.800 11/12/2035  EUR 66.280
Bank fuer Kirche und Ca  0.770 10/12/2035  EUR 66.195
Bank fuer Kirche und Ca  0.450   7/1/2031  EUR 74.521
Single Platform Investm  1.033  2/15/2046  EUR 56.116
Liga Bank eG Regensburg  0.650  6/26/2034  EUR 67.922
Single Platform Investm  0.656  2/15/2046  EUR 50.697
Single Platform Investm  1.010  3/20/2051  EUR 53.675
Single Platform Investm  0.901  2/15/2041  EUR 60.601
Frankfurter Volksbank R  0.100  7/15/2031  EUR 71.557
Region Occitanie         0.727 11/16/2037  EUR 67.641
Single Platform Investm  1.785  2/15/2041  EUR 70.918
Single Platform Investm  1.416  2/15/2041  EUR 66.259
Single Platform Investm  1.840  11/5/2040  EUR 71.580
Single Platform Investm  0.860  6/15/2039  EUR 61.290
Region de Bruxelles-Cap  1.065  6/22/2047  EUR 54.566
Single Platform Investm  1.375  7/25/2053  EUR 57.530
Single Platform Investm  1.051   4/1/2042  EUR 60.231
Credit Agricole Corpora  2.480   3/4/2036  USD 68.366
Norddeutsche Landesbank  0.675  2/25/2033  EUR 69.130
NRW Bank                 0.120  2/24/2033  EUR 74.929
Single Platform Investm  2.300  2/25/2036  NOK 69.896
Vasakronan AB            2.400  2/25/2033  NOK 73.661
Region Bourgogne-Franch  0.300  12/3/2040  EUR 56.020
Metropole de Lyon        0.540  12/7/2050  EUR 43.761
Brussels Municipalities  0.384  6/15/2035  EUR 68.756
Single Platform Investm  2.230   4/4/2040  NOK 63.796
Landesbank Hessen-Thuer  1.000  8/18/2036  EUR 65.402
Single Platform Investm  1.075  6/26/2052  EUR 52.562
Liga Bank eG Regensburg  0.760  12/8/2036  EUR 63.684
Societe Generale SA     20.000 12/18/2025  USD 25.600
Single Platform Investm  0.800   4/7/2042  EUR 56.893
DZ HYP AG                0.050  1/31/2031  EUR 74.450
DZ Bank AG Deutsche Zen  0.185   2/5/2031  EUR 73.478
Single Platform Investm  2.210  9/27/2038  NOK 65.765
Finland Government Bond  0.125  4/15/2052  EUR 43.706
Raiffeisen-Landesbank T  1.500  2/10/2061  EUR 38.333
ING Bank NV              2.600 10/19/2031  AUD 73.238
Single Platform Investm  0.780   4/1/2042  EUR 56.733
Nederlandse Waterschaps  1.770 12/28/2048  EUR 71.783
Muenchener Hypothekenba  0.105  2/17/2031  EUR 74.047
Single Platform Investm  2.520  1/18/2040  NOK 67.375
Commerzbank AG           1.250  6/28/2034  EUR 73.275
Centre Hospitalier Regi  1.500  4/27/2050  EUR 72.913
Region de Bruxelles-Cap  0.900  4/14/2050  EUR 48.905
Landesbank Hessen-Thuer  1.000  4/30/2035  EUR 68.000
Landesbank Hessen-Thuer  0.600   4/9/2035  EUR 64.893
Admiralty Finance SA     2.650 12/31/2038  EUR 74.224
Single Platform Investm  0.955  2/15/2041  EUR 55.341
BPCE SA                  2.255  3/12/2040  AUD 50.936
Region de Bruxelles-Cap  0.500  6/22/2040  EUR 57.612
Credit Agricole Corpora 10.800  3/24/2026  TRY 65.455
UniCredit Bank AG        0.030  2/28/2033  EUR 71.958
Raiffeisenlandesbank Ob  2.310  2/27/2040  EUR 67.641
DZ Bank AG Deutsche Zen  0.780   3/5/2030  EUR 72.942
Frigate Luxembourg SA    2.000   8/1/2032  EUR 48.871
Single Platform Investm  1.490  3/20/2051  EUR 60.052
Single Platform Investm  0.833  2/15/2041  EUR 58.971
Muenchener Hypothekenba  0.270  6/16/2031  EUR 74.033
Landesbank Hessen-Thuer  0.350  7/23/2031  EUR 73.831
Raiffeisen Landesbank V  0.750 10/10/2031  EUR 70.072
Banque et Caisse d'Epar  1.068  5/18/2041  EUR 69.737
Single Platform Investm  1.165  7/30/2035  EUR 71.239
Single Platform Investm  2.770   5/9/2041  NOK 68.790
Norddeutsche Landesbank  0.950  6/16/2033  EUR 70.064
Department of Bouches d  0.855  5/20/2038  EUR 67.907
Basler Kantonalbank     18.000  9/14/2023  CHF 40.100
Liga Bank eG Regensburg  0.250  4/30/2031  EUR 71.416
NRW Bank                 0.750  5/26/2036  EUR 73.331
Banque et Caisse d'Epar  1.220  5/26/2041  EUR 71.349
Region Bourgogne-Franch  0.945  5/20/2039  EUR 66.904
Caisse des Depots et Co  0.945  5/19/2051  EUR 50.099
Department of Bouches d  0.906  5/20/2039  EUR 66.448
BKS Bank AG              1.050 11/30/2031  EUR 72.442
Single Platform Investm  1.165   6/6/2046  EUR 56.197
DZ Bank AG Deutsche Zen  1.580 12/29/2031  EUR 73.190
Frankfurter Volksbank R  0.050   8/4/2030  EUR 74.240
Batigere Grand Est SAHL  1.400  8/31/2050  EUR 53.506
Single Platform Investm  1.840  7/25/2053  EUR 60.009
Single Platform Investm  1.100  6/25/2044  EUR 58.340
Oberoesterreichische La  0.600  5/26/2031  EUR 70.464
Kommunalkredit Austria   1.183   6/2/2031  EUR 73.576
Ringkjoebing Landbobank  1.230  5/28/2036  EUR 68.988
Societe Generale SA     14.000   7/3/2024  USD 35.600
Sparebank 1 Oestlandet   1.575  2/28/2034  EUR 74.149
Caisse des Depots et Co  1.617  3/18/2049  EUR 62.831
Nationale-Nederlanden B  1.432  3/21/2039  EUR 73.413
Single Platform Investm  1.800   6/6/2039  EUR 72.775
Landeskreditbank Baden-  1.862   4/6/2062  EUR 68.909
Single Platform Investm  2.386  5/25/2053  EUR 73.781
Single Platform Investm  2.150 10/21/2041  NOK 62.376
Landesbank Baden-Wuertt  0.040  1/15/2031  EUR 73.613
Oberoesterreichische La  0.655  1/25/2036  EUR 55.909
NIBC Bank NV             0.410  1/27/2031  EUR 68.532
Credit Industriel Et Co  2.250  1/28/2036  USD 66.919
Single Platform Investm  1.910  8/15/2036  NOK 65.442
Iccrea BancaImpresa SpA  1.276   4/1/2033  EUR 73.787
Citigroup Global Market  1.000  8/31/2036  EUR 63.968
Nederlandse Waterschaps  0.130   9/6/2033  EUR 73.470
Raiffeisen Switzerland   5.000  8/30/2023  CHF 72.290
Credit Agricole CIB Fin  0.440  8/30/2033  EUR 67.973
Bank fuer Kirche und Ca  0.660  3/17/2036  EUR 64.167
Citigroup Global Market  1.200  8/25/2041  EUR 57.954
Bank fuer Kirche und Ca  0.600   6/9/2036  EUR 63.058
Region Occitanie         0.792 11/23/2043  EUR 57.203
Landesbank Baden-Wuertt  0.060   9/1/2031  EUR 71.311
Landesbank Hessen-Thuer  0.550  8/18/2033  EUR 68.690
Muenchener Hypothekenba  0.100  8/14/2034  EUR 68.860
BPCE SA                  3.000 11/18/2036  AUD 64.304
Single Platform Investm  1.265   2/4/2043  JPY 72.071
Commerzbank AG           2.565  5/15/2043  EUR 74.563
Single Platform Investm  1.842  2/15/2044  EUR 70.623
Department of Puy-de-Do  0.664 12/20/2039  EUR 62.423
Department of Puy-de-Do  0.671  7/17/2040  EUR 61.370
DZ Bank AG Deutsche Zen  0.800  8/20/2035  EUR 65.059
Caisse des Depots et Co  0.678  7/23/2040  EUR 58.967
Batigere Grand Est SAHL  1.800  8/12/2050  EUR 60.011
Single Platform Investm  0.678  2/15/2041  EUR 56.819
Saastopankkien Keskuspa  0.870  7/28/2031  EUR 74.959
Batigere Grand Est SAHL  1.550  8/12/2041  EUR 64.329
Banque et Caisse d'Epar  0.900   8/6/2042  EUR 66.000
Kuntarahoitus Oyj        0.983  11/3/2060  EUR 56.262
Single Platform Investm  0.873  5/25/2052  EUR 49.252
HYPO NOE Landesbank fue  2.500  4/29/2039  EUR 73.067
Raiffeisen Landesbank V  2.500  5/11/2035  EUR 72.942
Credit Industriel Et Co  1.550  5/15/2035  EUR 74.854
Veneto Banca SpA         6.950  2/25/2025  EUR  0.708
Raiffeisen Landesbank V  1.840  2/25/2035  EUR 68.088
Raiffeisen Landesbank V  1.775  3/13/2035  EUR 67.352
Heta Asset Resolution A  5.030 12/31/2023  EUR  1.168
IT Holding Finance SA    9.875 11/15/2012  EUR  0.015
Akademiska Hus AB        1.252  2/13/2043  SEK 58.176
Willhem AB               1.824 10/18/2038  SEK 62.394
DekaBank Deutsche Giroz  0.780 10/18/2035  EUR 65.543
Ville de Rennes          0.505 10/22/2034  EUR 67.794
Single Platform Investm  2.110   4/2/2040  EUR 74.899
Batigere Grand Est SAHL  1.709  11/4/2042  EUR 64.651
Batigere Grand Est SAHL  1.540  11/4/2041  EUR 63.875
Single Platform Investm  0.753  6/25/2039  EUR 60.393
Ringkjoebing Landbobank  1.100 10/30/2035  EUR 68.838
Landesbank Berlin AG     2.058  11/4/2031  EUR 74.835
Communaute Francaise de  1.787  6/14/2044  EUR 68.288
SNCF Reseau              2.425  6/22/2047  SEK 74.341
Goldman Sachs Internati  2.800  6/29/2037  SEK 74.944
Saastopankkien Keskuspa  1.652  5/14/2035  EUR 72.842
Senivita Social Estate   8.500  6/30/2025  EUR  0.020
Collectivite Europeenne  0.200  11/5/2035  EUR 67.166
Natixis SA               1.150  1/23/2035  EUR 70.253
Banque Internationale a  1.085 10/22/2040  EUR 55.310
DekaBank Deutsche Giroz  0.530 10/22/2035  EUR 63.194
Banque Internationale a  0.675 10/29/2030  EUR 73.918
Department of Gironde F  0.412 11/26/2037  EUR 64.138
Department of Gironde F  0.418 11/12/2041  EUR 55.647
Dr Wiesent Sozial gGmbH  7.000             EUR  0.002
Municipality of Tilburg  0.470 11/14/2034  EUR 73.577
Marseille Provence Metr  1.000  1/15/2038  EUR 66.617
Single Platform Investm  0.853  3/20/2040  EUR 60.200
Raiffeisenlandesbank Ob  1.000 12/30/2030  EUR 74.940
HSBC Continental Europe  1.300 10/23/2039  EUR 63.011
Credit Agricole Corpora 12.000 11/17/2025  TRY 70.257
BNP Paribas SA           2.750 10/24/2034  AUD 66.786
German Pellets GmbH      7.250   7/9/2018  EUR  0.815
Single Platform Investm  1.905  8/22/2039  EUR 72.531
Turkey Government Inter  4.875  4/16/2043  USD 65.957
Kreditanstalt fuer Wied  0.400  8/12/2040  EUR 62.607
Batigere Grand Est SAHL  1.550 11/14/2039  EUR 66.937
Oberoesterreichische La  0.953  9/16/2039  EUR 50.651
Credit Agricole Corpora  2.950  8/22/2039  AUD 64.933
DZ Bank AG Deutsche Zen  2.240  8/22/2034  USD 74.370
Caisse des Depots et Co  1.022  9/13/2049  EUR 51.743
Agence Francaise de Dev  1.600  7/25/2043  EUR 70.276
Single Platform Investm  1.103  5/25/2052  EUR 52.728
RENE LEZARD Mode GmbH    7.250 11/25/2017  EUR  0.151
Oberoesterreichische La  2.500 12/10/2035  EUR 72.544
State of Rhineland-Pala  0.872 10/31/2036  EUR 74.033
Stadtsparkasse Wupperta  1.000  11/3/2031  EUR 74.845
Stadtsparkasse Wupperta  1.040 11/14/2031  EUR 74.868
Stadtsparkasse Wupperta  0.900  9/30/2031  EUR 74.512
DekaBank Deutsche Giroz  0.790 11/14/2031  EUR 74.885
Aargau Verkehr AG        0.270 11/29/2049  CHF 74.564
BNP Paribas SA           3.180 11/19/2039  AUD 60.418
Societe Generale SA      1.270 11/25/2034  EUR 72.272
Specialfastigheter Sver  1.180  12/2/2044  SEK 55.568
DZ Bank AG Deutsche Zen  0.500  8/30/2034  EUR 64.932
Credit Agricole Corpora  2.930  8/20/2039  AUD 64.914
Raiffeisen-Landesbank T  0.766  9/17/2031  EUR 70.475
Caisse des Depots et Co  2.615 11/15/2049  AUD 58.654
VTB Bank PJSC            8.400  5/21/2030  RUB 67.000
DekaBank Deutsche Giroz  0.705   6/1/2032  EUR 72.708
Societe Du Grand Paris   1.923  5/25/2066  EUR 56.163
Department of Gironde F  0.650 12/17/2038  EUR 64.340
Region Centre            0.712  12/3/2039  EUR 61.066
SG Issuer SA             0.650 12/30/2030  EUR 73.433
SG Issuer SA             0.700 12/20/2030  EUR 73.833
DekaBank Deutsche Giroz  0.705   7/1/2032  EUR 72.470
DekaBank Deutsche Giroz  0.848   8/2/2032  EUR 73.250
Vasakronan AB            2.777  4/12/2039  SEK 71.218
Oberbank AG              1.850  4/18/2039  EUR 59.587
DekaBank Deutsche Giroz  1.080  12/9/2039  EUR 61.674
Single Platform Investm  1.110  1/22/2040  EUR 63.214
Ukraine Government Bond 10.570  5/10/2027  UAH 49.989
Ukraine Government Bond  9.700   6/7/2028  UAH 41.247
Ukraine Government Bond  6.000  9/13/2028  UAH 31.622
Ukraine Government Bond  6.000  4/23/2031  UAH 22.026
Caisse des Depots et Co  1.782  6/15/2048  EUR 65.992
Leonteq Securities AG/G 19.000  4/30/2024  USD 69.450
UBS AG/London           19.250  1/25/2024  CHF 40.600
Banca di Cividale SpA/o  3.710  6/30/2036  EUR 70.049
Banca di Cividale SpA/o  3.340  10/2/2036  EUR 71.638
Single Platform Investm  0.740   4/1/2042  EUR 56.168
Banque Internationale a  0.530   9/2/2030  EUR 73.767
Single Platform Investm  1.080  5/17/2033  EUR 74.425
Citigroup Global Market  1.000  9/30/2036  EUR 64.371
Deutsche Bank AG         1.050   9/1/2031  EUR 73.317
Single Platform Investm  1.600  3/23/2038  EUR 70.467
Credit Agricole CIB Fin  0.490  9/13/2033  EUR 68.303
Single Platform Investm  2.060  7/25/2033  NOK 73.120
State of North Rhine-We  1.293  2/25/2041  EUR 72.382
Ukraine Government Bond  6.000  1/14/2026  UAH 53.112
Kuntarahoitus Oyj        1.078   5/6/2039  EUR 73.074
Citigroup Global Market  1.000  1/21/2036  EUR 65.370
Liga Bank eG Regensburg  0.850   5/4/2034  EUR 70.539
Banque et Caisse d'Epar  0.880  2/10/2037  EUR 74.220
Banque et Caisse d'Epar  1.000   1/4/2042  EUR 67.685
BPCE SFH SA              1.420  3/30/2039  EUR 73.373
Agence Metropolitaine D  0.500   7/7/2035  EUR 69.328
Landesbank Hessen-Thuer  1.000  9/13/2034  EUR 68.900
Luzerner Kantonalbank A 12.750  6/12/2024  CHF 64.560
Kreissparkasse Koeln     0.350  2/19/2035  EUR 65.295
Stadtsparkasse Wupperta  0.890 10/17/2031  EUR 74.124
Nationwide Building Soc  1.420  4/23/2041  EUR 73.519
Cooperatieve Rabobank U  1.485   9/3/2041  EUR 71.483
Thames Water Utilities   1.846  8/28/2047  GBP 69.545
Credit Industriel Et Co  1.170  1/28/2037  EUR 68.535
Norddeutsche Landesbank  1.090 11/15/2043  EUR 64.298
Caisse des Depots et Co  1.270  10/1/2051  EUR 54.471
Brussels Municipalities  0.892  3/29/2041  EUR 61.925
Brussels Municipalities  0.892  9/29/2041  EUR 61.113
Societe Generale SA      2.650  1/26/2032  USD 74.498
Raiffeisen-Landesbank T  1.380  7/24/2059  EUR 54.852
Single Platform Investm  1.715  2/15/2041  EUR 70.085
Pongs & Zahn AG          8.500             EUR  0.001
DZ Bank AG Deutsche Zen  1.200 11/25/2050  EUR 51.493
Aareal Bank AG           1.850  3/20/2035  EUR 63.471
Single Platform Investm  1.690  7/25/2053  EUR 62.932
Single Platform Investm  1.720  2/15/2041  EUR 70.062
Single Platform Investm  1.340   4/4/2042  EUR 64.241
Single Platform Investm  1.675  2/15/2041  EUR 67.434
SAG Solarstrom AG        6.250 12/14/2015  EUR 31.000
Kreditanstalt fuer Wied  0.210 11/18/2037  EUR 63.998
Purple Protected Asset   1.480 11/30/2060  EUR 40.067
LFA Foerderbank Bayern   0.010 12/15/2033  EUR 71.848
Single Platform Investm  1.315 12/15/2038  EUR 66.764
UBS Group AG             2.210 11/24/2035  USD 67.112
Credit Suisse AG/London  3.220   2/8/2032  AUD 74.681
Landesbank Baden-Wuertt  0.810  5/21/2032  EUR 74.953
State of Rhineland-Pala  0.100  10/1/2040  EUR 58.734
Single Platform Investm  2.840  12/4/2035  NOK 74.524
Department of Bouches d  0.457  10/8/2040  EUR 58.282
Oberoesterreichische La  0.641 10/13/2035  EUR 56.595
Banque Internationale a  0.750 10/13/2030  EUR 74.135
Oberoesterreichische La  0.650 10/15/2035  EUR 56.658
Banque Internationale a  0.550 10/13/2030  EUR 73.009
Muenchener Hypothekenba  0.580 10/14/2035  EUR 65.158
Oberoesterreichische La  0.420 10/22/2030  EUR 71.707
KPNQwest NV              7.125   6/1/2009  EUR  0.190
Heta Asset Resolution A  3.635 12/31/2023  EUR  1.168
Belfius Bank SA          1.550  1/28/2039  EUR 74.601
Norske Skogindustrier A  7.000 12/30/2026  EUR  0.010
HYPO NOE Landesbank fue  3.000  5/30/2046  EUR 74.154
Municipality of Groning  1.404   7/1/2041  EUR 72.810
Credit Suisse AG/London  4.700   7/1/2046  AUD 71.006
Department of Bouches d  1.100   7/8/2039  EUR 68.471
Raiffeisen Landesbank V  2.257 11/13/2034  EUR 72.446
Raiffeisen Landesbank V  2.257 11/13/2034  EUR 72.446
Department of Gironde F  0.900 12/15/2039  EUR 65.279
Department of Gironde F  0.707  6/23/2035  EUR 72.962
Department of Gironde F  0.979  6/25/2040  EUR 65.261
Saastopankkien Keskuspa  1.500  6/12/2035  EUR 71.070
Region Wallonne Belgium  1.300  6/16/2068  EUR 45.491
Saastopankkien Keskuspa  1.445  6/23/2035  EUR 70.577
Single Platform Investm  1.660 12/16/2036  EUR 73.630
Agence Metropolitaine D  0.800   7/1/2040  EUR 63.037
Vodafone Group PLC       4.600   8/9/2046  USD 72.269
Volksbank Weinheim eG    2.600  12/8/2058  EUR 74.268
Region de Bruxelles-Cap  1.800  8/17/2048  EUR 67.666
Natixis SA               1.350  6/26/2039  EUR 65.300
Single Platform Investm  2.770   6/6/2040  NOK 69.551
Landesbank Saar          0.680  3/29/2034  EUR 68.842
Single Platform Investm  1.090 11/30/2033  EUR 73.800
Single Platform Investm  1.040  6/25/2044  EUR 57.484
Nomura Bank Internation  1.175   7/8/2033  EUR 69.179
BNP Paribas SA           3.950  7/11/2039  AUD 71.127
Department of Bouches d  0.530  7/30/2035  EUR 71.031
DekaBank Deutsche Giroz  0.370  4/16/2031  EUR 74.307
Volksbank in Suedwestfa  0.300  3/19/2031  EUR 74.421
Purple Protected Asset   1.570  4/30/2061  EUR 46.364
Single Platform Investm  2.820   7/3/2041  NOK 69.341
Single Platform Investm  0.932  6/15/2039  EUR 62.356
Leonteq Securities AG/G 24.500  1/26/2024  CHF 39.310
Single Platform Investm  1.762  5/25/2066  EUR 56.328
Credit Agricole CIB Fin  0.540  9/20/2033  EUR 68.661
Single Platform Investm  2.050   9/1/2044  NOK 58.783
DZ HYP AG                0.180  3/10/2031  EUR 73.380
Single Platform Investm  2.212   4/6/2034  NOK 72.959
ING Bank NV              2.410  3/16/2031  AUD 74.165
Berlin Hyp AG            0.375  9/29/2031  EUR 72.262
Credit Industriel Et Co  0.805  9/21/2033  EUR 71.177
Banque Internationale a  0.800 12/22/2032  EUR 68.842
DekaBank Deutsche Giroz  1.585 12/28/2035  EUR 59.261
Single Platform Investm  2.500   6/6/2036  NOK 71.006
Malta Government Bond    1.000  8/23/2035  EUR 72.900
Landesbank Hessen-Thuer  1.370  9/22/2031  EUR 69.594
DekaBank Deutsche Giroz  0.250  1/31/2031  EUR 73.889
Bayerische Landesbank    1.820  3/12/2031  EUR 72.050
Renovables Atlasol SA    2.200 12/31/2038  EUR 68.691
Hypo-Bank Burgenland AG  0.810  9/17/2031  EUR 70.536
Single Platform Investm  1.180   4/1/2039  EUR 65.030
BKS Bank AG              2.165  6/21/2039  EUR 71.809
Department of L'Eure Fr  0.515  5/25/2040  EUR 59.751
Department of Loiret Fr  0.790 11/22/2039  EUR 64.084
DZ Bank AG Deutsche Zen  0.750  7/18/2033  EUR 69.247
Ringkjoebing Landbobank  1.875   6/6/2039  EUR 71.574
Lloyds Bank PLC          1.920  4/16/2044  EUR 60.034
DZ Bank AG Deutsche Zen  0.700  10/2/2034  EUR 66.271
Citigroup Global Market  1.150  9/19/2039  EUR 60.758
Region de Bruxelles-Cap  0.731  8/25/2060  EUR 36.002
DZ Bank AG Deutsche Zen  0.240  2/28/2031  EUR 73.723
DZ Bank AG Deutsche Zen 23.300 12/22/2023  EUR  9.000
Luzerner Kantonalbank A  3.500  8/30/2023  USD 47.350
Hypo Vorarlberg Bank AG  1.020  7/15/2041  EUR 51.197
Specialfastigheter Sver  2.205 10/11/2038  SEK 74.294
National Grid Electrici  2.920  9/30/2044  AUD 60.507
Region Wallonne Belgium  1.250  4/30/2055  EUR 49.961
Landesbank Hessen-Thuer  0.530  11/4/2031  EUR 72.331
Credit Agricole SA       1.000   4/6/2035  EUR 67.204
Single Platform Investm  1.155  5/25/2052  EUR 54.567
UniCredit Bank AG        1.120  1/20/2031  EUR 71.310
Single Platform Investm  1.593 10/31/2050  EUR 57.795
Landesbank Baden-Wuertt  0.500  4/21/2031  EUR 74.402
Caisse des Depots et Co  2.700  4/28/2041  AUD 67.038
Standard Chartered Bank  3.000  4/30/2036  AUD 66.925
Landesbank Saar          0.760   5/8/2034  EUR 68.988
Swedbank Hypotek AB      1.445  3/29/2038  EUR 74.928
Credit Agricole Corpora  2.500  2/20/2048  EUR 72.607
Caisse des Depots et Co  1.780  2/20/2048  EUR 66.183
Morgan Stanley & Co Int  3.100 10/28/2041  AUD 61.799
Nomura Bank Internation  1.450 12/10/2041  EUR 60.651
BNG Bank NV              1.790  1/21/2049  EUR 69.592
Landesbank Hessen-Thuer  2.435   2/6/2048  EUR 66.134
Bank Vontobel AG         9.500  12/4/2023  EUR 58.500
Region de Bruxelles-Cap  2.215   6/1/2041  EUR 74.614
Caisse Francaise de Fin  1.500   2/7/2039  EUR 74.972
Hospices Civils de Lyon  0.597 11/24/2031  EUR 74.705
Landesbank Baden-Wuertt  0.580   3/2/2033  EUR 70.421
UBS Group AG             2.490   3/4/2036  USD 68.888
Department of Bouches d  0.543 12/15/2034  EUR 72.676
Single Platform Investm  1.250  5/10/2044  EUR 60.156
Ville de Paris           1.293  2/22/2049  EUR 57.491
Region Occitanie         1.198  5/25/2036  EUR 72.476
ABN AMRO Bank NV         1.070   3/3/2041  EUR 67.398
DZ Bank AG Deutsche Zen  0.500  2/26/2031  EUR 74.738
Citigroup Global Market  2.500  2/25/2036  USD 71.879
Societe Generale SA      2.060  3/12/2031  USD 73.383
Caisse des Depots et Co  2.730   3/2/2041  AUD 67.553
Hemso Fastighets AB      2.380   3/3/2033  NOK 74.787
Landesbank Baden-Wuertt  0.500  7/30/2031  EUR 73.711
BNP Paribas SA           1.450 11/17/2041  EUR 63.530
Aktia Bank Oyj           0.430  12/2/2030  EUR 74.593
UniCredit Bank AG       10.850   2/1/2024  EUR 55.440
Region de Bruxelles-Cap  0.274 12/11/2040  EUR 54.140
Wirtschafts- und Infras  0.200 12/14/2045  EUR 48.215
Aareal Bank AG           0.300 12/11/2030  EUR 65.803
Kommunekredit            2.180  7/16/2040  AUD 61.866
Berlin Hyp AG            0.349 12/10/2031  EUR 71.736
Norddeutsche Landesbank  0.750  1/15/2032  EUR 73.389
Region Hauts-de-France   0.361  2/18/2041  EUR 54.298
Agence Francaise de Dev  2.330  2/10/2041  AUD 62.855
Landesbank Baden-Wuertt  0.380  2/12/2031  EUR 74.135
DLR Kredit A/S           2.000  10/1/2053  DKK 72.776
NRW Bank                 1.211 10/18/2045  EUR 65.829
Hemso Fastighets AB      2.418 11/30/2038  EUR 65.899
Kreditanstalt fuer Wied  0.820  4/15/2050  EUR 57.247
Landesbank Hessen-Thuer  1.200  4/30/2035  EUR 70.034
State of Brandenburg     0.050  2/28/2033  EUR 73.655
Societe Generale SFH SA  0.650  6/23/2035  EUR 72.507
KESZ Holding Business D  2.800  6/17/2031  HUF 74.740
BNP Paribas SA           1.400   6/4/2041  EUR 62.600
Cooperatieve Rabobank U  1.099  6/28/2051  EUR 58.768
Kreditanstalt fuer Wied  1.208  6/17/2051  EUR 62.829
United Kingdom Gilt      1.500  7/31/2053  GBP 50.031
JAB Holdings BV          3.750  5/28/2051  USD 63.255
Banque Federative du Cr  2.460   6/7/2032  AUD 74.158
Vasakronan AB            1.000  6/15/2041  EUR 34.741
Region de Bruxelles-Cap  2.410  8/23/2063  EUR 67.111
French Republic Governm  1.500  5/25/2050  EUR 66.285
BPCE SFH SA              1.390  3/11/2039  EUR 72.293
HSBC Continental Europe  2.150  3/14/2049  EUR 66.524
Leonteq Securities AG/G 30.000  3/13/2024  CHF 58.540
ITK Holding zrt          2.900  6/23/2031  HUF 64.900
Luzerner Kantonalbank A  6.400  10/4/2023  CHF 61.940
UBS AG/London            7.750 10/13/2023  CHF 11.000
Communaute Francaise de  2.050  7/26/2047  EUR 70.761
Landesbank Baden-Wuertt  0.430  1/22/2031  EUR 74.597
Soc Nationale SNCF SACA  2.931  1/14/2051  AUD 61.697
LFA Foerderbank Bayern   0.160   1/2/2040  EUR 59.158
Bayerische Landesbank    0.230  8/27/2031  EUR 71.728
Canton of Geneva Switze  0.050  8/27/2041  CHF 74.552
Region Occitanie         0.834 11/18/2044  EUR 56.373
Landeskreditbank Baden-  1.236  5/22/2045  EUR 67.242
Sberbank of Russia PJSC  0.010 11/23/2026  RUB 69.630
Landesbank Baden-Wuertt  0.500  12/8/2031  EUR 73.243
Agence Francaise de Dev  0.714  7/10/2045  EUR 55.395
Credit Agricole Corpora  2.610  7/27/2050  USD 53.572
Agence France Locale     0.550  6/20/2040  EUR 61.000
Muenchener Hypothekenba  0.886  3/26/2043  EUR 62.690
Lehman Brothers Treasur  4.870  10/8/2013  USD  0.100
Lehman Brothers Treasur  5.220   3/1/2024  EUR  0.100
Kreditanstalt fuer Wied  1.075 12/20/2049  EUR 61.486
EFG International Finan 11.120 12/27/2024  EUR 53.720
Region de Bruxelles-Cap  0.720 10/17/2051  EUR 41.616
Alteo Nyrt               3.150 10/28/2029  HUF 67.500
Virgolino de Oliveira F 10.875  1/13/2020  USD 36.000
Bibby Offshore Services  7.500  6/15/2021  GBP 11.625
SNCF Reseau              2.455  6/22/2047  SEK 74.782
Republic of Ireland Int  2.000  6/29/2064  EUR 67.280
Getin Noble Bank SA     11.950  4/29/2024  PLN 30.866
Bayerische Landesbank    0.970  2/14/2033  EUR 74.013
Region de Bruxelles-Cap  1.000 10/29/2059  EUR 41.050
AK BARS Bank Via AK BAR  8.000  7/13/2022  USD 31.000
BPCE SA                  1.850 10/30/2030  AUD 73.150
Norddeutsche Landesbank  1.400  8/17/2037  EUR 64.152
Kreditanstalt fuer Wied  1.087  1/21/2050  EUR 61.725
Vasakronan AB            3.100   9/9/2039  AUD 60.980
BNG Bank NV              2.000  7/24/2058  EUR 74.146
Caisse des Depots et Co  1.811  8/13/2048  EUR 66.338
Communaute Francaise de  2.177  8/17/2068  EUR 65.152
BNG Bank NV              1.900  7/11/2058  EUR 66.952
de Volksbank NV          1.495  7/26/2038  EUR 74.778
DNB Boligkreditt AS      1.230 11/18/2039  EUR 70.020
DNB Boligkreditt AS      1.080  5/16/2039  EUR 68.988
HSBC Continental Europe  0.800 12/13/2034  EUR 68.977
Landesbank Baden-Wuertt  0.590  10/7/2032  EUR 71.458
Berlin Hyp AG            1.157  12/9/2039  EUR 58.894
Natixis SA               2.180  8/24/2035  USD 68.410
Land Baden-Wuerttemberg  1.150   4/5/2049  EUR 62.559
Pick Szeged Szalamigyar  2.000  12/6/2029  HUF 70.180
Ukraine Government Bond  6.000 12/23/2026  UAH 44.497
Ukraine Government Bond  9.610 11/10/2029  UAH 34.806
Ukraine Government Bond  6.000 11/22/2028  UAH 30.561
Ukraine Government Bond  9.730  9/24/2031  UAH 30.481
Hellas Telecommunicatio  6.054  1/15/2015  USD  0.012
Societe Generale SFH SA  0.360  9/14/2033  EUR 73.945
Lehman Brothers Treasur  6.600  5/23/2012  AUD  0.100
Lehman Brothers Treasur  2.300   6/6/2013  USD  0.100
Ukraine Government Bond 11.110  3/29/2028  UAH 45.397
BPCE SFH SA              1.375  3/22/2038  EUR 74.505
Landesbank Baden-Wuertt 11.750 11/24/2023  EUR 29.940
UBS AG/London           15.240  1/31/2024  USD  7.092
Landwirtschaftliche Ren  0.984   2/4/2042  EUR 67.422
Credit Suisse AG/London 20.000 10/10/2023  CHF 27.190
Agence Francaise de Dev  1.656   4/4/2054  EUR 63.148
BPCE SFH SA              1.229  4/12/2049  EUR 60.301
Eika Boligkreditt AS     1.245  3/28/2039  EUR 70.800
Caisse des Depots et Co  1.900  9/14/2048  EUR 65.640
Bayerische Landesbank    2.250 10/17/2033  EUR 72.777
Lehman Brothers Treasur 13.000  2/16/2009  CHF  0.100
Lehman Brothers Treasur  6.000  3/18/2015  USD  0.100
Lehman Brothers Treasur  3.450  5/23/2013  USD  0.100
Lehman Brothers Treasur  7.000  4/24/2009  USD  0.100
NTRP Via Interpipe Ltd  10.250   8/2/2017  USD  2.006
Lehman Brothers Treasur  5.375   2/4/2014  USD  0.100
Lehman Brothers Treasur 10.000  2/16/2009  CHF  0.100
Lehman Brothers Treasur  7.000  2/15/2010  CHF  0.100
Lehman Brothers Treasur  3.500  6/20/2011  EUR  0.100
Lehman Brothers Treasur 11.000  2/16/2009  CHF  0.100
Lehman Brothers Treasur  6.000  9/20/2011  EUR  0.100
Morgan Stanley & Co Int  3.470  1/27/2042  AUD 65.364
Autonomous Community of  1.138 11/22/2052  EUR 47.511
BPCE SFH SA              1.586   2/1/2047  EUR 67.309
Comunidad Foral de Nava  1.800  3/25/2042  EUR 68.795
Lehman Brothers Treasur 13.000 12/14/2012  USD  0.100
Lehman Brothers Treasur  4.820 12/18/2036  EUR  0.100
Rikshem AB               1.910 11/16/2032  NOK 70.498
Kuntarahoitus Oyj        1.005  11/4/2060  EUR 56.327
Department of Bouches d  0.450 10/15/2041  EUR 56.203
NRW Bank                 0.800 10/22/2060  EUR 47.071
Heta Asset Resolution A  5.920 12/31/2023  EUR  1.168
Nationwide Building Soc  1.673  1/28/2041  EUR 74.688
Italy Buoni Poliennali   2.700   3/1/2047  EUR 74.463
State of Saarland        1.108  5/18/2046  EUR 63.071
Bazalgette Finance Plc   0.688  6/27/2050  GBP 58.555
HYPO NOE Landesbank fue  3.000  6/20/2051  EUR 73.651
United Kingdom Gilt      2.500  7/22/2065  GBP 63.471
Ukraine Government Bond 12.500  2/21/2024  UAH 73.039
Aareal Bank AG           1.741  1/12/2045  EUR 47.908
Region Bretagne SCI      0.770  12/1/2039  EUR 61.762
Rikshem AB               2.370  6/17/2032  NOK 74.229
Region Provence-Alpes-C  0.709  6/29/2040  EUR 62.763
Windreich GmbH           6.250   3/1/2015  EUR  2.780
Region de Bruxelles-Cap  1.532  8/16/2038  EUR 72.935
Landeskreditbank Baden-  1.025   4/1/2061  EUR 52.295
Landesbank Baden-Wuertt  1.000  8/12/2039  EUR 62.990
Raiffeisen Schweiz Geno 19.800 12/12/2023  CHF 41.610
Cooperatieve Rabobank U  1.430   9/1/2036  EUR 70.809
Aareal Bank AG           0.520  4/18/2031  EUR 66.127
BNP Paribas SA           3.170   1/7/2041  AUD 60.618
Credit Suisse AG/London 16.300 12/26/2023  USD 47.440
Landesbank Baden-Wuertt  0.360 12/30/2030  EUR 74.336
State of Saxony-Anhalt   2.416   7/3/2028  EUR 60.000
Aareal Bank AG           0.625  9/16/2030  EUR 68.619
Caisse des Depots et Co  2.670  9/17/2049  AUD 59.444
Lehman Brothers Treasur  4.100  5/20/2009  USD  0.100
Lehman Brothers Treasur  2.000  5/17/2010  EUR  0.100
Lehman Brothers Treasur  3.820 10/20/2009  USD  0.100
LBI ehf                  2.250  2/14/2011  CHF  7.750
NIBC Bank NV             0.460  7/19/2029  EUR 74.929
Republic of Austria Gov  0.700  4/20/2071  EUR 41.656
Republic of Ireland Int  2.045  3/22/2075  EUR 72.419
Ukraine Government Inte  6.876  5/21/2031  USD 27.069
Swedbank Hypotek AB      1.595 11/20/2043  EUR 71.492
Norddeutsche Landesbank  0.825  8/30/2033  EUR 68.451
Barclays Bank PLC        3.900  2/15/2042  AUD 65.924
Raiffeisenlandesbank Ob  0.835 10/20/2036  EUR 69.418
Standard Chartered Bank  2.650 10/13/2036  USD 72.024
Kuntarahoitus Oyj        1.220  3/27/2060  EUR 60.893
Societe Generale SA      0.570  6/30/2031  EUR 73.185
Kreditanstalt fuer Wied  1.270  6/29/2051  EUR 63.475
Kreditanstalt fuer Wied  1.271  5/20/2051  EUR 63.526
Cooperatieve Rabobank U  1.704  2/25/2049  EUR 70.373
Deutsche Bank AG         0.700 10/28/2031  EUR 71.866
Societe Generale SA      7.750 10/29/2032  USD 74.750
Region de Bruxelles-Cap  1.710   5/5/2047  EUR 61.723
Citigroup Global Market  0.200  1/19/2031  EUR 73.722
Region Wallonne Belgium  0.850  1/26/2071  EUR 34.470
Landesbank Hessen-Thuer  1.050  7/30/2035  EUR 68.148
Derzhava-Garant OOO     15.000  6/12/2030  RUB 32.400
Heta Asset Resolution A  4.875 12/31/2023  EUR  1.168
Credit Agricole Corpora  2.650  1/29/2035  AUD 71.025
Nostrum Oil & Gas Finan  8.000  7/25/2022  USD 25.546
French Republic Governm  0.500  5/25/2040  EUR 63.377
DLR Kredit A/S           1.500  10/1/2053  DKK 72.009
Bayerische Landesbank    1.100  1/26/2024  EUR 58.590
State of North Rhine-We  1.375  1/15/2120  EUR 45.278
Eika Boligkreditt AS     1.112  5/16/2039  EUR 69.635
Swedbank Hypotek AB      1.565  8/17/2043  EUR 71.130
Heta Asset Resolution A  7.500 12/31/2023  ATS  1.168
Region Wallonne Belgium  1.272  10/3/2040  EUR 64.340
BPCE SFH SA              1.186   5/9/2039  EUR 70.116
PJSC Koks via IMH Capit  5.900  9/23/2025  USD  8.623
Kuntarahoitus Oyj        0.514  10/7/2039  EUR 65.729
Ukraine Government Bond  8.750  2/16/2033  UAH 26.149
Lehman Brothers Treasur 11.000 12/19/2011  USD  0.100
Raiffeisen Switzerland  16.000   1/3/2024  CHF 40.850
Ukraine Government Bond 11.890   5/6/2026  UAH 59.824
Raiffeisen Switzerland  15.000  1/23/2024  CHF 36.350
Astana Finance BV        7.875   6/8/2010  EUR 16.000
Kingdom of Belgium Gove  2.150  6/22/2066  EUR 70.907
Lehman Brothers Treasur  3.400  9/21/2009  HKD  0.100
Lehman Brothers Treasur  5.200  11/9/2011  EUR  0.100
Sidetur Finance BV      10.000  4/20/2016  USD  0.751
Lehman Brothers Treasur  4.350   8/8/2016  SGD  0.100
Nomura Bank Internation  0.400  11/5/2030  EUR 71.724
Lehman Brothers Treasur  7.625  7/22/2011  HKD  0.100
Ukraine Government Inte  7.750   9/1/2027  USD 28.958
Ukraine Government Inte  7.750   9/1/2028  USD 29.796
Ukraine Government Bond 15.500   9/4/2024  UAH 69.759
BNP Paribas SA           3.750  6/12/2040  AUD 72.620
LR Realkredit AS         1.000  10/1/2050  DKK 65.521
Aareal Bank AG           1.300  9/19/2031  EUR 68.990
Communaute Francaise de  0.749  9/16/2080  EUR 46.448
Hemso Fastighets AB      1.800   5/5/2032  EUR 73.105
Italy Buoni Poliennali   2.450   9/1/2050  EUR 68.384
Autonomous Community of  1.646  7/30/2060  EUR 50.428
Landesbank Hessen-Thuer  0.460  7/20/2032  EUR 69.840
Landesbank Hessen-Thuer  0.350  8/19/2030  EUR 74.503
Landesbank Baden-Wuertt  0.360  8/11/2031  EUR 72.711
BPCE SA                  2.160  10/6/2031  USD 73.572
Banco Santander SA       1.020   1/4/2034  EUR 68.351
Specialfastigheter Sver  1.215  5/14/2035  SEK 70.215
Ministeries Van de Vlaa  0.940  5/12/2050  EUR 48.721
UniCredit Bank AG        0.900  7/18/2031  EUR 74.390
Italy Buoni Poliennali   2.150   3/1/2072  EUR 56.033
Vacse AB                 2.067  4/20/2034  SEK 73.416
UniCredit Bank AG        1.560  1/20/2031  EUR 72.850
Landesbank Baden-Wuertt  0.440   5/7/2031  EUR 73.908
Landesbank Hessen-Thuer  0.631   5/2/2031  EUR 73.731
Assistance Publique Hop  1.800  4/10/2048  EUR 66.871
Deutsche Bank AG/London  0.500   4/5/2038  MXN 22.767
Landesbank Baden-Wuertt  0.710  11/9/2035  EUR 65.658
Vasakronan AB            2.390  1/17/2039  EUR 50.686
Region Centre            0.807  5/12/2040  EUR 60.593
Muenchener Hypothekenba  0.805  4/16/2036  EUR 66.971
Agence Francaise de Dev  1.774  3/24/2044  EUR 72.102
Nederlandse Waterschaps  1.577  12/9/2039  GBP 63.276
UBS AG/London           15.250 11/27/2023  CHF 37.500
Landesbank Hessen-Thuer  0.450   1/7/2032  EUR 73.265
DZ HYP AG                2.023  1/18/2058  EUR 66.494
Nederlandse Waterschaps  2.032  1/23/2058  EUR 73.795
Leonteq Securities AG/G 11.000  12/7/2023  CHF 20.000
Hypo-Bank Burgenland AG  2.010   2/7/2048  EUR 70.279
Landesbank Baden-Wuertt  0.550  11/9/2032  EUR 71.150
Landesbank Baden-Wuertt  5.250 10/27/2023  EUR 43.880
Bayerische Landesbank    1.850   3/5/2031  EUR 72.540
Goldman Sachs Internati  2.520   3/3/2036  USD 68.331
Norddeutsche Landesbank  0.750  7/23/2031  EUR 74.360
Hypo Vorarlberg Bank AG  0.920   7/8/2036  EUR 59.410
Barclays Bank PLC        2.000  10/8/2042  EUR 63.070
Norddeutsche Landesbank  1.600   4/5/2034  EUR 73.874
Sveriges Sakerstallda O  1.378  7/13/2046  SEK 60.377
Landesbank Baden-Wuertt  0.200  12/2/2030  EUR 72.690
BPCE SA                  1.920  12/9/2030  AUD 73.087
Kreditanstalt fuer Wied  0.951   9/9/2050  EUR 55.989
Caisse des Depots et Co  2.160  12/7/2050  AUD 51.935
Deutsche Bank AG         2.010 12/10/2052  EUR 59.793
Kuntarahoitus Oyj        0.815  2/24/2061  EUR 52.628
DZ Bank AG Deutsche Zen  0.420  2/17/2033  EUR 68.315
Landesbank Baden-Wuertt  0.490   6/9/2031  EUR 74.105
Norddeutsche Landesbank  1.560 10/20/2038  EUR 63.938
VTB Bank PJSC            9.670             USD 50.000
NRW Bank                 0.921 10/20/2041  EUR 66.421
Landesbank Baden-Wuertt  0.520  12/9/2031  EUR 73.056
DZ Bank AG Deutsche Zen  2.000 12/29/2031  EUR 72.480
Cie de Financement Fonc  1.695  12/4/2048  EUR 67.311
Landesbank Baden-Wuertt  0.400  2/12/2031  EUR 74.259
Nederlandse Waterschaps  1.370  3/23/2065  EUR 53.676
Landesbank Baden-Wuertt  0.660  10/9/2034  EUR 67.336
Hypo Vorarlberg Bank AG  0.500  6/23/2031  EUR 71.006
Berlin Hyp AG            0.625  6/30/2031  EUR 73.104
Citigroup Global Market  1.500  5/13/2051  EUR 54.037
Landesbank Baden-Wuertt  0.740   6/2/2036  EUR 64.536
Italy Buoni Poliennali   2.150   9/1/2052  EUR 62.528
Natixis SA               2.720  5/27/2036  USD 71.624
Rikshem AB               3.250  5/31/2041  AUD 60.150
Vasakronan AB            2.277  3/11/2039  EUR 49.981
HSBC Continental Europe  2.025  3/19/2049  EUR 64.548
HYPO NOE Landesbank fue  1.790  8/18/2037  EUR 67.925
Cooperatieve Rabobank U  2.250  9/15/2047  EUR 66.517
Communaute Francaise de  1.600  6/22/2047  EUR 65.295
HYPO NOE Landesbank fue  2.080  10/5/2037  EUR 70.570
Natixis SA               2.520  8/24/2036  AUD 62.026
Landesbank Hessen-Thuer  0.500  12/3/2031  EUR 72.026
UBS AG/London            7.000  9/22/2023  CHF 72.600
Aareal Bank AG           1.475  7/19/2029  EUR 71.951
DZ Bank AG Deutsche Zen  0.250  1/21/2033  EUR 73.447
Raiffeisen Bank Interna  0.370   2/3/2033  EUR 62.343
Landesbank Baden-Wuertt  0.260  7/29/2030  EUR 74.912
Regie Autonome des Tran  1.900  6/26/2048  EUR 70.929
Nederlandse Waterschaps  1.955  6/28/2058  EUR 73.185
DekaBank Deutsche Giroz  7.500  5/31/2024  EUR 70.330
Single Platform Investm  1.475  10/5/2043  JPY 73.718
Landesbank Baden-Wuertt  0.650  12/1/2031  EUR 74.234
Landesbank Hessen-Thuer  0.300  9/15/2031  EUR 71.105
Regie Autonome des Tran  0.640  8/13/2041  EUR 60.019
State of Saxony-Anhalt   1.808  5/15/2048  EUR 73.599
Assistance Publique Hop  0.647  7/17/2040  EUR 61.137
Societe Generale SA      2.710   7/8/2035  AUD 61.674
Credit Mutuel Arkea SA   0.730 10/14/2036  EUR 61.592
Single Platform Investm  2.230  4/15/2044  EUR 73.383
Aktia Bank Oyj           0.990  1/15/2035  EUR 68.235
Deutsche Bank AG/London  4.320  6/15/2037  AUD 73.167
SNCF Reseau              2.303  7/11/2067  EUR 64.766
Landesbank Baden-Wuertt  0.790  5/16/2033  EUR 71.558
Bayerische Landesbank    0.770  6/18/2032  EUR 72.553
Nederlandse Waterschaps  0.932  12/2/2060  EUR 47.288
Ville de Paris           0.758  8/20/2060  EUR 37.571
Caisse des Depots et Co  2.345  1/29/2050  AUD 54.908
UniCredit Bank AG        7.600  2/19/2024  EUR 69.500
DZ Bank AG Deutsche Zen  0.700  8/24/2033  EUR 69.030
Assistance Publique Hop  0.750 11/30/2039  EUR 63.319
Credit Agricole Corpora  2.700   6/3/2035  AUD 70.795
United Kingdom Gilt      0.625 10/22/2050  GBP 38.894
Agence Francaise de Dev  2.360 10/17/2044  AUD 58.765
Single Platform Investm  1.156  2/12/2041  EUR 62.593
Hypo-Bank Burgenland AG  1.010 10/29/2049  EUR 56.518
SAir Group               5.125   3/1/2003  CHF 10.172
Credit Agricole Corpora 10.500  2/16/2027  TRY 58.839
Vasakronan AB            2.050  5/28/2044  EUR 45.781
HSBC Continental Europe  2.890  9/11/2039  AUD 60.754
NRW Bank                 0.473  6/23/2049  EUR 53.177
Caisse des Depots et Co  2.630  9/16/2049  AUD 58.925
State of Rhineland-Pala  0.500  7/30/2036  EUR 71.317
Lloyds Bank PLC          2.450  7/20/2048  EUR 64.112
Societe Generale SA      2.370  9/17/2035  AUD 58.536
Single Platform Investm  1.200 11/15/2037  EUR 67.258
Caisse des Depots et Co  2.340 11/27/2049  AUD 54.926
DZ Bank AG Deutsche Zen  0.625   1/7/2032  EUR 72.827
Landesbank Baden-Wuertt  0.540  10/7/2031  EUR 73.504
Communaute Francaise de  1.728  4/11/2049  EUR 67.056
Barclays Bank PLC        2.730  9/27/2024  EUR 61.480
Landesbank Hessen-Thuer  0.350 10/13/2031  EUR 71.269
Landesbank Hessen-Thuer  1.000 10/14/2036  EUR 63.650
Lehman Brothers Treasur 13.150 10/30/2008  USD  0.100
Muenchener Hypothekenba  1.172 10/30/2047  EUR 64.140
Assistance Publique Hop  1.665  4/10/2049  EUR 63.808
BNG Bank NV              1.873 11/24/2047  EUR 71.818
ECM Real Estate Investm  5.000  10/9/2011  EUR 15.375
Erste Group Bank AG      1.200  2/11/2040  EUR 54.416
Landesbank Hessen-Thuer  0.400   2/4/2031  EUR 73.808
NRW Bank                 1.020   8/1/2049  EUR 55.942
Leonteq Securities AG/G 20.000   2/2/2024  CHF 38.700
Societe Generale SA      1.100  2/20/2034  EUR 71.011
Ministeries Van de Vlaa  0.600 11/19/2055  EUR 36.910
Kuntarahoitus Oyj        1.557  3/29/2052  EUR 74.100
DZ Bank AG Deutsche Zen  0.660 11/23/2035  EUR 63.500
Banque Internationale a  0.480 11/13/2030  EUR 72.712
DZ Bank AG Deutsche Zen  0.100 11/15/2030  EUR 74.121
Deutsche Pfandbriefbank  0.613  9/30/2032  EUR 64.879
Kreditanstalt fuer Wied  1.027 10/26/2050  EUR 57.308
Berlin Hyp AG            0.055 10/16/2030  EUR 73.563
Gold-Zack AG             7.000 12/14/2005  EUR  4.402
Lloyds Bank PLC          2.255   2/9/2036  EUR 72.274
DZ HYP AG                1.060  7/28/2036  EUR 73.740
Bayerische Landesbank    0.940  7/16/2032  EUR 74.784
DZ Bank AG Deutsche Zen  1.060  6/24/2032  EUR 74.659
Credit Agricole Corpora 10.200   8/6/2026  TRY 61.658
Vasakronan AB            3.270  6/26/2034  AUD 72.443
Landesbank Baden-Wuertt  0.750  8/12/2039  EUR 64.410
Landesbank Saar          0.720  6/29/2035  EUR 65.961
Landesbank Baden-Wuertt  1.300  6/21/2049  EUR 56.672
Nomura Bank Internation  1.415  1/27/2042  EUR 59.972
DZ HYP AG                1.226  8/25/2036  EUR 66.111
Aareal Bank AG           0.255  9/17/2029  EUR 70.768
Aareal Bank AG           0.380  9/16/2031  EUR 63.395
Barclays Bank PLC        3.020  3/26/2051  USD 57.828
Autonomous Community of  1.931   4/4/2042  EUR 70.464
Deutsche Bank AG         0.510  9/16/2031  EUR 74.547
Landesbank Baden-Wuertt  0.370 10/20/2031  EUR 72.415
Region de Bruxelles-Cap  0.450 12/22/2056  EUR 33.626
State of North Rhine-We  1.450  1/19/2122  EUR 46.365
Landesbank Hessen-Thuer  0.700  2/24/2032  EUR 72.909
Bankinter SA             1.200   6/5/2035  EUR 73.114
Landesbank Baden-Wuertt  0.590  9/22/2034  EUR 66.843
Landesbank Baden-Wuertt  0.060  10/4/2030  EUR 73.290
Nederlandse Waterschaps  0.781  2/28/2050  EUR 53.871
State of Lower Austria   1.750   5/2/2047  EUR 69.179
Lloyds Banking Group PL  0.995  2/15/2038  JPY 74.956
Turkey Government Bond  10.280  9/15/2027  TRY 68.500
Leonteq Securities AG    8.000 11/29/2023  CHF 63.550
Landesbank Hessen-Thuer  0.350  5/27/2031  EUR 74.218
Caisse des Depots et Co  1.960   2/1/2048  EUR 68.104
Kingdom of Belgium Gove  1.700  6/22/2050  EUR 68.185
Landesbank Baden-Wuertt  7.800  3/22/2024  EUR 49.160
Kreditanstalt fuer Wied  1.142  2/15/2042  EUR 69.950
Caisse des Depots et Co  1.000  2/26/2051  EUR 50.395
Kuntarahoitus Oyj        1.005  12/7/2060  EUR 56.374
Ukraine Government Inte  9.990  5/22/2024  UAH 68.277
Raiffeisen Switzerland  20.000  2/20/2024  CHF 49.970
Norddeutsche Landesbank  1.100 10/13/2034  EUR 68.290
Russian Federal Bond -   7.100  5/15/2041  RUB 69.651
Banco Santander SA       1.000  1/14/2034  EUR 68.860
Vasakronan AB            3.300  1/14/2042  AUD 60.647
UBS AG/London            1.860  2/28/2049  EUR 65.155
Republic of Poland Gove  2.000   3/8/2049  EUR 65.795
Aareal Bank AG           1.465  7/24/2029  EUR 71.837
Region Wallonne Belgium  0.250 12/29/2036  EUR 62.292
Land Berlin              0.100  1/18/2041  EUR 56.679
State of North Rhine-We  0.200  1/27/2051  EUR 43.134
Raiffeisen Switzerland  17.500 12/27/2023  CHF 41.590
Agence Francaise de Dev  0.537  7/16/2040  EUR 62.065
Societe Generale SA      4.740  3/24/2030  USD 72.137
Ukraine Government Bond  9.500 12/11/2024  UAH 62.310
Goldman Sachs Internati  2.034   7/7/2036  EUR 70.122
Ville de Paris           0.760  5/25/2066  EUR 35.585
Italy Buoni Poliennali   1.700   9/1/2051  EUR 57.144
French Republic Governm  0.750  5/25/2052  EUR 51.536
Region Auvergne-Rhone-A  0.800  5/22/2040  EUR 61.365
BNP Paribas SA           1.000  1/23/2040  MXN 21.453
Norddeutsche Landesbank  1.350   2/3/2038  EUR 62.474
Landesbank Hessen-Thuer  0.600 10/27/2034  EUR 66.063
Ireland Government Bond  1.500  5/15/2050  EUR 67.258
Gazprom PJSC             4.510 10/21/2043  RUB 70.000
Deutsche Pfandbriefbank  4.120  11/3/2031  EUR 59.297
Erste Group Bank AG      0.940  5/22/2034  EUR 64.205
Barclays Bank PLC        1.750  9/29/2032  USD 68.690
MOL Hungarian Oil & Gas  1.100  9/22/2030  HUF 58.500
Lehman Brothers Treasur  5.100   5/8/2017  HKD  0.100
United Kingdom Gilt      0.875  7/31/2033  GBP 71.615
Leonteq Securities AG/G  5.000   9/6/2023  CHF 71.390
Santander International  2.770   7/2/2035  USD 69.417
Ukraine Government Bond 15.840  2/26/2025  UAH 71.966
Realkredit Danmark A/S   0.500  10/1/2050  DKK 67.417
SNCF Reseau              1.100 10/27/2036  EUR 73.338
Cattles Ltd              8.125   7/5/2017  GBP  0.027
Lehman Brothers Treasur 13.000  7/25/2012  EUR  0.100
Lehman Brothers Treasur  2.500  8/23/2012  GBP  0.100
Lehman Brothers Treasur  0.500 12/20/2017  USD  0.100
Lehman Brothers Treasur  4.000   1/4/2011  USD  0.100
Lehman Brothers Treasur  4.800 11/16/2012  HKD  0.100
Lehman Brothers Treasur  3.500 12/20/2027  USD  0.100
Lehman Brothers Treasur 11.000 12/20/2017  AUD  0.100
Lehman Brothers Treasur 11.000 12/20/2017  AUD  0.100
Lehman Brothers Treasur  0.500 12/20/2017  AUD  0.100
Lehman Brothers Treasur  6.650  8/24/2011  AUD  0.100
Turkey Government Bond  11.000  2/24/2027  TRY 74.200
BLT Finance BV          12.000  2/10/2015  USD 10.500
State of Lower Austria   0.400 10/13/2050  EUR 45.266
Perrigo Co PLC           5.300 11/15/2043  USD 72.569
Virgolino de Oliveira F 11.750   2/9/2022  USD  0.628
Pescanova SA             8.750  2/17/2019  EUR  1.047
Elli Investments Ltd    12.250  6/15/2020  GBP 52.250
Landesbank Baden-Wuertt  0.905   4/1/2041  EUR 50.827
Aktia Bank Oyj           0.550  3/17/2031  EUR 74.578
Norddeutsche Landesbank  0.775  4/20/2033  EUR 68.997
Landesbank Hessen-Thuer  0.350  4/21/2031  EUR 74.512
Ville de Paris           0.395 12/18/2045  EUR 47.873
Bank Julius Baer & Co L 13.200 11/30/2023  CHF 23.000
Bank Julius Baer & Co L  8.600 11/30/2023  CHF 57.950
BNP Paribas Emissions-   9.400  9/21/2023  EUR 71.250
DZ Bank AG Deutsche Zen 24.300  9/22/2023  EUR 66.520
DZ Bank AG Deutsche Zen 22.200 12/22/2023  EUR 71.120
DZ Bank AG Deutsche Zen 24.700 12/22/2023  EUR 64.030
UBS AG/London           15.000  8/31/2023  CHF 32.950
Vontobel Financial Prod 20.500  9/22/2023  EUR 63.610
SG Issuer SA             5.000  5/30/2029  EUR 37.650
Credit Suisse AG/London 16.750  8/29/2023  CHF 34.010
Leonteq Securities AG/G 30.000   9/1/2023  CHF 29.010
Leonteq Securities AG/G 27.000   9/1/2023  CHF 34.120
Leonteq Securities AG/G 22.000   9/6/2023  USD 48.270
Leonteq Securities AG/G 17.000  12/5/2023  CHF 40.270
Bank Julius Baer & Co L 21.850 10/11/2023  CHF 26.000
UBS AG/London           11.750  10/5/2023  EUR 61.600
Zurcher Kantonalbank Fi  7.100  10/6/2023  CHF 54.160
DZ Bank AG Deutsche Zen 22.700  9/22/2023  EUR 68.860
Barclays Bank PLC        1.450  9/24/2038  MXN 26.588
Nederlandse Waterschaps  1.900 10/29/2048  EUR 74.318
Agence Francaise de Dev  1.911 10/26/2048  EUR 70.461
BNG Bank NV              1.938   5/3/2048  EUR 72.493
Vontobel Financial Prod 15.000  9/22/2023  EUR 74.620
Nordea Bank Abp          8.270  7/20/2027  SEK 73.625
Bank Vontobel AG        20.000   1/5/2024  CHF 43.600
DZ Bank AG Deutsche Zen  7.250  9/25/2024  EUR 71.200
DZ Bank AG Deutsche Zen  8.000  3/20/2024  EUR 74.620
DZ Bank AG Deutsche Zen  6.750 12/20/2023  EUR 71.830
Vontobel Financial Prod 18.000  9/22/2023  EUR 71.960
Vontobel Financial Prod 24.500  9/22/2023  EUR 72.870
Vontobel Financial Prod 23.500  9/22/2023  EUR 74.370
Vontobel Financial Prod 14.000  9/22/2023  EUR 69.850
Vontobel Financial Prod 16.500  9/22/2023  EUR 74.470
Vontobel Financial Prod  8.000  9/22/2023  EUR 67.850
Vontobel Financial Prod 19.500  9/22/2023  EUR 61.320
Vontobel Financial Prod 17.000  9/22/2023  EUR 64.960
Vontobel Financial Prod 16.000  9/22/2023  EUR 66.960
Vontobel Financial Prod 19.500  9/22/2023  EUR 16.990
Vontobel Financial Prod 11.500  9/22/2023  EUR 64.220
Vontobel Financial Prod 14.500  9/22/2023  EUR 59.530
Vontobel Financial Prod 14.000  9/22/2023  EUR 71.360
Vontobel Financial Prod 11.000  9/22/2023  EUR 73.570
Vontobel Financial Prod 10.500  9/22/2023  EUR 74.580
Vontobel Financial Prod 18.000  9/22/2023  EUR 69.750
Vontobel Financial Prod 20.500  9/22/2023  EUR 64.980
Muenchener Hypothekenba  0.620  7/22/2033  EUR 70.990
Landwirtschaftliche Ren  0.400  7/29/2036  EUR 69.721
DZ Bank AG Deutsche Zen  0.530  7/26/2033  EUR 67.628
DZ Bank AG Deutsche Zen  0.650   8/5/2036  EUR 68.251
Landesbank Baden-Wuertt  9.300 11/22/2024  EUR 72.890
Landesbank Baden-Wuertt  9.500  6/28/2024  EUR 69.140
HSBC Trinkaus & Burkhar 16.400  9/22/2023  EUR 55.220
HSBC Trinkaus & Burkhar 10.700 12/22/2023  EUR 59.550
HSBC Trinkaus & Burkhar  5.300 12/22/2023  EUR 66.240
HSBC Trinkaus & Burkhar 12.300  3/22/2024  EUR 60.390
HSBC Trinkaus & Burkhar  8.100  9/27/2024  EUR 66.050
HSBC Trinkaus & Burkhar  6.400  9/27/2024  EUR 69.370
HSBC Trinkaus & Burkhar  5.000  9/27/2024  EUR 73.530
HSBC Trinkaus & Burkhar 15.100 12/22/2023  EUR 58.570
HSBC Trinkaus & Burkhar  9.400  3/22/2024  EUR 63.560
HSBC Trinkaus & Burkhar  6.700  3/22/2024  EUR 67.690
Kuntarahoitus Oyj        1.200  7/21/2061  EUR 60.445
DZ Bank AG Deutsche Zen  0.640 12/30/2030  EUR 74.400
SG Issuer SA             0.015  11/7/2033  EUR 64.360
SG Issuer SA             0.021  8/15/2033  EUR 55.460
Landesbank Baden-Wuertt  2.100  8/22/2025  EUR 67.820
Landesbank Baden-Wuertt  3.000  8/22/2025  EUR 72.780
DZ Bank AG Deutsche Zen  0.500  8/18/2036  EUR 60.304
DZ Bank AG Deutsche Zen  0.110  8/17/2032  EUR 67.584
DekaBank Deutsche Giroz  3.550  8/11/2025  EUR 68.850
Hunland Feed Kft         2.880  7/21/2031  HUF 72.910
Norddeutsche Landesbank  0.400  8/13/2031  EUR 71.901
Norddeutsche Landesbank  1.000  8/13/2036  EUR 62.380
Landesbank Baden-Wuertt  3.050  8/28/2026  EUR 72.230
Landesbank Hessen-Thuer  0.550  8/19/2032  EUR 70.247
Landesbank Hessen-Thuer  0.450  8/19/2031  EUR 72.259
Landesbank Hessen-Thuer  0.750  8/19/2036  EUR 61.080
Norddeutsche Landesbank  0.850  8/25/2036  EUR 61.082
Leonteq Securities AG   12.000 10/19/2023  CHF 69.020
Landesbank Hessen-Thuer  1.650  5/27/2030  EUR 29.010
SG Issuer SA             1.600  4/21/2034  EUR 67.440
Nordea Bank Abp          2.000  4/29/2027  SEK 58.540
Raiffeisen Schweiz Geno  8.000 10/11/2023  CHF 62.280
Raiffeisen Schweiz Geno  5.900  4/11/2024  CHF 71.460
UBS AG/London           18.000   4/8/2024  CHF 62.700
BNP Paribas Emissions-   3.000  4/21/2026  EUR 58.350
Raiffeisen Bank Interna  8.311  9/20/2023  EUR 66.940
Raiffeisen Bank Interna  8.450  9/20/2023  EUR 73.710
Raiffeisen Bank Interna  8.311  9/20/2023  EUR 56.530
Raiffeisen Bank Interna  9.696  9/20/2023  EUR 52.940
Raiffeisen Bank Interna 11.082  9/20/2023  EUR 50.590
Bank Vontobel AG        10.250  10/9/2023  CHF 43.000
Bank Vontobel AG         8.750  10/9/2023  CHF 48.500
UBS AG/London           18.000  4/15/2024  USD 66.450
Leonteq Securities AG    5.000 10/12/2023  CHF 73.450
BNG Bank NV              1.890 11/14/2048  EUR 71.347
HSBC Trinkaus & Burkhar  8.600  9/27/2024  EUR 69.040
HSBC Trinkaus & Burkhar  6.700  9/27/2024  EUR 72.400
Leonteq Securities AG/G 12.000 10/10/2023  CHF 28.160
Leonteq Securities AG/G 23.200 10/10/2023  CHF 70.140
Raiffeisen Switzerland   6.000  10/7/2024  CHF 61.540
Erste Group Bank AG      2.000  4/20/2037  EUR 67.555
Zurcher Kantonalbank Fi  9.400 10/11/2023  EUR 73.090
SG Issuer SA             1.600  4/18/2034  EUR 73.520
Leonteq Securities AG   10.000 10/11/2023  CHF 71.880
UBS AG/London           17.400  4/14/2027  SEK 44.430
UBS AG/London           14.250   4/8/2024  USD 58.050
UBS AG/London           14.500  10/6/2023  CHF 27.520
UBS AG/London           10.750   4/8/2024  CHF 71.000
Zurcher Kantonalbank Fi  7.000  10/6/2023  CHF 71.130
Raiffeisen Bank Interna  9.696  9/20/2023  EUR 65.420
Raiffeisen Bank Interna 11.082  9/20/2023  EUR 64.320
Agence Francaise de Dev  1.954 11/13/2053  EUR 67.979
Bank Vontobel AG        14.000  10/9/2023  CHF 28.000
Bank Vontobel AG        19.000   4/9/2024  CHF 48.300
Vontobel Financial Prod 21.000 12/22/2023  EUR 73.760
Vontobel Financial Prod 22.000  9/22/2023  EUR 72.930
Vontobel Financial Prod 21.000  9/22/2023  EUR 75.000
Region de Bruxelles-Cap  1.646  11/2/2038  EUR 73.875
Landesbank Baden-Wuertt  2.650 10/27/2023  EUR 60.470
Leonteq Securities AG/G 28.180  10/6/2023  CHF 46.690
Leonteq Securities AG/G 23.000 10/10/2023  CHF 43.740
UBS AG/London            5.250  9/11/2023  EUR 67.160
Vontobel Financial Prod 25.200   2/5/2024  USD 72.940
Vontobel Financial Prod 25.750   2/5/2024  USD 74.510
Kommunekredit            2.200  9/27/2041  AUD 61.804
Raiffeisen Schweiz Geno  4.000  9/27/2024  CHF 21.620
Citigroup Global Market 14.760  10/2/2023  EUR 59.890
Region Auvergne-Rhone-A  0.543  9/28/2036  EUR 66.319
Region Provence-Alpes-C  0.569  10/1/2038  EUR 63.866
Region Occitanie         0.776  10/6/2041  EUR 60.443
Region Occitanie         0.580  10/6/2036  EUR 65.706
NRW Bank                 0.300  9/29/2033  EUR 74.785
Muenchener Hypothekenba  0.562  9/30/2031  EUR 74.559
Nordea Bank Abp          0.620 10/14/2026  SEK 53.510
Landesbank Hessen-Thuer  0.780  10/4/2035  EUR 65.442
Landesbank Hessen-Thuer  0.800  1/18/2036  EUR 64.957
Deutsche Bank AG         2.530  10/7/2036  USD 66.722
Landesbank Hessen-Thuer  1.500  10/1/2036  EUR 64.700
Natixis SA               2.780  10/5/2036  AUD 64.136
Raiffeisen Schweiz Geno  5.850  10/4/2023  CHF 62.140
Citigroup Global Market  2.540  9/13/2024  EUR 59.050
Sberbank of Russia PJSC  0.010  10/3/2028  RUB 67.010
Citigroup Global Market  2.950  9/29/2041  AUD 59.521
Credit Agricole Corpora 15.700  10/7/2026  TRY 67.734
Erste Group Bank AG      1.010  10/7/2041  EUR 49.664
Landesbank Baden-Wuertt  7.800  1/24/2025  EUR 69.580
Kuntarahoitus Oyj        0.939  2/15/2050  EUR 63.561
Region de Bruxelles-Cap  0.760  9/15/2038  EUR 64.179
Kommunekredit            1.000  4/23/2035  SEK 72.638
Region de Bruxelles-Cap  1.020  4/30/2060  EUR 40.739
Basque Government        2.000  4/30/2059  EUR 59.304
Kreditanstalt fuer Wied  0.693   2/8/2050  EUR 50.199
Landesbank Hessen-Thuer  1.300   6/4/2035  EUR 70.712
Regie Autonome des Tran  1.070  4/28/2050  EUR 53.494
AutoWallis Nyrt          3.000  4/15/2030  HUF 71.890
Banque et Caisse d'Epar  1.270   5/7/2045  EUR 68.612
Vasakronan AB            2.162   5/4/2040  SEK 63.571
Landesbank Hessen-Thuer  1.000  6/12/2035  EUR 74.600
Kuntarahoitus Oyj        0.870 10/11/2050  EUR 61.940
Single Platform Investm  0.754  9/20/2039  EUR 59.783
Region of Pays de la Lo  0.729  5/12/2036  EUR 68.717
Landesbank Baden-Wuertt  0.327   5/7/2038  EUR 62.980
BPCE SFH SA              0.430   5/7/2040  EUR 59.748
Landesbank Baden-Wuertt  0.880  5/29/2034  EUR 70.003
Landesbank Baden-Wuertt  0.820  5/27/2032  EUR 73.943
DZ Bank AG Deutsche Zen  1.250  5/25/2035  EUR 69.841
DZ Bank AG Deutsche Zen  1.000  5/25/2032  EUR 74.589
Landesbank Baden-Wuertt  0.850  5/27/2033  EUR 71.956
DZ Bank AG Deutsche Zen  1.040  5/15/2034  EUR 70.127
Landesbank Hessen-Thuer  1.000  6/12/2035  EUR 67.800
Erste Group Bank AG      0.560  9/29/2033  EUR 63.894
Leonteq Securities AG/G  7.000  10/4/2023  CHF 40.540
Leonteq Securities AG    7.400  10/4/2023  CHF 64.760
Corner Banca SA          7.000  10/4/2023  CHF 71.210
DZ Bank AG Deutsche Zen  0.850 10/15/2036  EUR 70.026
Leonteq Securities AG/G  8.000  10/4/2023  USD 59.280
Greenergy Holding Vagyo  3.000  9/21/2031  HUF 72.032
BNP Paribas SA           1.275  10/2/2023  USD 11.670
Natixis SA               3.000 10/18/2051  USD 61.932
Landesbank Hessen-Thuer  0.650  10/6/2031  EUR 72.231
Muenchener Hypothekenba  1.495  10/5/2050  EUR 58.631
Commerzbank AG           0.900  10/7/2030  EUR 72.594
Commerzbank AG           0.800  10/5/2029  EUR 74.308
Landesbank Hessen-Thuer  0.700  11/4/2033  EUR 68.270
Leonteq Securities AG/G  8.090  10/4/2023  CHF 52.880
BNP Paribas SA           1.010  10/5/2035  EUR 65.772
Erste Group Bank AG      4.500  11/2/2025  EUR 47.000
Landesbank Hessen-Thuer  0.900 11/10/2036  EUR 64.197
Citigroup Global Market  1.150  10/6/2036  EUR 64.986
Citigroup Global Market  1.080  10/1/2036  EUR 64.636
Sberbank of Russia PJSC  0.010  10/5/2028  RUB 74.500
Landesbank Hessen-Thuer  1.250 11/10/2036  EUR 65.150
Berlin Hyp AG            0.400  10/7/2031  EUR 72.285
Citigroup Global Market  1.050  5/20/2036  EUR 64.641
Region Centre            0.662  5/12/2034  EUR 72.707
Region Centre            0.552  5/12/2033  EUR 74.361
DZ Bank AG Deutsche Zen 15.400  6/28/2024  EUR 60.000
DZ Bank AG Deutsche Zen 20.400  3/22/2024  EUR 56.140
DZ Bank AG Deutsche Zen 22.000  3/22/2024  EUR 55.730
UniCredit Bank AG       11.900  3/22/2024  EUR 66.220
UniCredit Bank AG       13.300  3/22/2024  EUR 65.060
UniCredit Bank AG       13.400  6/28/2024  EUR 64.050
Ministeries Van de Vlaa  1.863  2/28/2048  EUR 66.300
Single Platform Investm  0.840  6/20/2043  EUR 57.738
Landesbank Baden-Wuertt  0.780  4/21/2036  EUR 65.147
Credit Agricole CIB Fin  1.000  4/26/2036  EUR 65.488
Landesbank Baden-Wuertt  0.610  5/11/2034  EUR 67.857
Barclays Bank PLC        3.020  4/23/2036  NZD 72.932
UniCredit Bank AG        4.900  5/14/2024  USD 68.890
Raiffeisen-Landesbank T  1.140  4/26/2051  EUR 56.360
Caisse des Depots et Co  1.275   5/5/2051  EUR 54.851
DZ Bank AG Deutsche Zen 18.900  3/22/2024  EUR 56.660
DZ Bank AG Deutsche Zen 16.400  6/28/2024  EUR 59.400
DZ Bank AG Deutsche Zen 17.400  6/28/2024  EUR 58.870
DZ Bank AG Deutsche Zen 18.500  6/28/2024  EUR 58.480
DZ Bank AG Deutsche Zen 10.400  6/28/2024  EUR 70.190
UniCredit Bank AG       15.500 12/22/2023  EUR 61.380
BNP Paribas Emissions-   5.300   9/1/2023  EUR 62.790
Sberbank of Russia PJSC  0.010  2/26/2027  RUB 74.800
Leonteq Securities AG/G 11.000  8/28/2023  USD 55.170
Caisse des Depots et Co  1.140  2/25/2037  EUR 71.786
Nederlandse Waterschaps  1.437   3/4/2042  EUR 71.929
Credit Agricole CIB Fin  1.750   3/3/2037  EUR 72.890
Bank Vontobel AG        11.000  2/23/2024  CHF 27.500
Raiffeisen Bank Interna 14.384  9/20/2023  EUR 67.960
Vontobel Financial Prod 11.500  9/22/2023  EUR 58.540
UBS AG/London            7.250  2/12/2024  CHF 56.600
Vontobel Financial Prod 19.000  9/22/2023  EUR 69.200
Vontobel Financial Prod 16.500  9/22/2023  EUR 72.940
Vontobel Financial Prod 17.500  9/22/2023  EUR 70.950
Vontobel Financial Prod 15.500  9/22/2023  EUR 74.820
Vontobel Financial Prod 18.000  9/22/2023  EUR 61.260
Vontobel Financial Prod 20.500  9/22/2023  EUR 58.040
Vontobel Financial Prod 11.500  9/22/2023  EUR 73.760
Vontobel Financial Prod 17.000  9/22/2023  EUR 62.990
Vontobel Financial Prod 22.000  9/22/2023  EUR 71.750
HSBC Trinkaus & Burkhar 12.700  9/22/2023  EUR 69.200
HSBC Trinkaus & Burkhar 23.300  9/22/2023  EUR 59.250
HSBC Trinkaus & Burkhar 14.000 12/22/2023  EUR 28.790
DZ Bank AG Deutsche Zen 14.900  9/22/2023  EUR 72.730
DZ Bank AG Deutsche Zen 23.000  9/22/2023  EUR 50.730
DZ Bank AG Deutsche Zen 20.200  9/22/2023  EUR 57.940
Vontobel Financial Prod 13.000  9/22/2023  EUR 68.390
Vontobel Financial Prod 14.500  9/22/2023  EUR 66.660
Vontobel Financial Prod 11.500  9/22/2023  EUR 72.240
Vontobel Financial Prod 10.500  9/22/2023  EUR 74.390
Vontobel Financial Prod 17.500  9/22/2023  EUR 61.860
Vontobel Financial Prod 15.500  9/22/2023  EUR 64.980
Vontobel Financial Prod 18.500  9/22/2023  EUR 57.280
Vontobel Financial Prod 20.000  9/22/2023  EUR 63.540
Vontobel Financial Prod 18.000  9/22/2023  EUR 66.330
Vontobel Financial Prod 17.500  9/22/2023  EUR 67.420
Vontobel Financial Prod 19.000  9/22/2023  EUR 65.430
Vontobel Financial Prod 15.000  9/22/2023  EUR 71.810
UniCredit Bank AG        0.900  3/24/2036  EUR 66.130
Landesbank Hessen-Thuer  0.550  4/16/2031  EUR 73.814
DZ Bank AG Deutsche Zen  0.700  4/29/2036  EUR 69.659
Raiffeisen Switzerland  10.000  4/16/2024  USD 58.620
Citigroup Global Market  2.500  4/29/2025  EUR 51.670
Citigroup Global Market  2.560  4/29/2025  EUR 37.650
Nomura Bank Internation  1.130  4/23/2036  EUR 65.051
Otthon Centrum Holding   3.000  4/19/2031  HUF 69.900
DekaBank Deutsche Giroz  2.400  5/17/2024  EUR 40.460
UBS AG/London            7.800  4/20/2026  EUR 51.160
Landesbank Baden-Wuertt  0.540  4/21/2033  EUR 69.790
Landesbank Hessen-Thuer  1.050  5/28/2036  EUR 66.352
Bank Vontobel AG         7.501 10/16/2023  CHF 58.600
Single Platform Investm  1.000   7/8/2034  EUR 71.482
Credit Agricole Corpora  3.020  4/22/2036  AUD 71.329
Landesbank Baden-Wuertt  0.500  5/11/2032  EUR 71.779
Landesbank Baden-Wuertt  0.710  5/12/2036  EUR 64.366
Leonteq Securities AG    4.500 10/23/2023  CHF 16.170
Raiffeisen Switzerland   7.000 10/19/2023  CHF 52.500
DZ Bank AG Deutsche Zen 23.000  3/22/2024  EUR 62.340
Vontobel Financial Prod 12.250  3/22/2024  EUR 65.090
Deutsche Bank AG/London 12.780  3/16/2028  TRY 54.886
DZ HYP AG                1.528  3/12/2040  EUR 72.800
Caisse des Depots et Co  1.790  3/13/2048  EUR 66.293
DZ Bank AG Deutsche Zen  0.710  4/30/2035  EUR 64.893
DZ Bank AG Deutsche Zen  0.750  4/28/2036  EUR 70.212
Landesbank Hessen-Thuer  0.700   6/3/2033  EUR 70.444
Kreditanstalt fuer Wied  1.000  4/27/2041  EUR 68.426
Citigroup Global Market  3.200  4/27/2051  AUD 54.780
Opus Global Nyrt         3.200  4/29/2031  HUF 71.000
Landesbank Hessen-Thuer  0.650  4/28/2031  EUR 73.663
Caisse des Depots et Co  1.290   5/5/2051  EUR 55.102
Landeskreditbank Baden-  0.842   5/3/2041  EUR 67.424
UBS AG/London           13.500  4/29/2024  USD 59.420
Barclays Bank PLC        2.000   5/7/2036  MXN 27.184
Landesbank Baden-Wuertt  2.400 11/24/2023  EUR 72.880
Credit Agricole Corpora 15.000  6/18/2026  TRY 71.643
Single Platform Investm  0.750  8/15/2050  EUR 47.600
Region Nouvelle-Aquitai  0.777  5/12/2041  EUR 61.168
Landesbank Hessen-Thuer  0.500   6/4/2031  EUR 73.140
UniCredit Bank AG        4.850  5/23/2025  EUR 74.900
DZ Bank AG Deutsche Zen  0.200   6/2/2031  EUR 72.021
UniCredit Bank AG        0.610   5/2/2033  EUR 70.419
Landesbank Hessen-Thuer  0.680 10/12/2033  EUR 69.377
Natixis SA               4.530  3/16/2048  AUD 70.089
Natixis SA               4.540  3/27/2048  AUD 70.193
Arkea Home Loans SFH SA  1.534  3/31/2043  EUR 71.989
Bank of Ireland Mortgag  1.548  4/17/2043  EUR 71.140
Hypo Tirol Bank AG       1.530  4/10/2043  EUR 69.519
Societe Generale SA      2.300  4/20/2048  EUR 71.685
Goldman Sachs Internati  2.200  3/29/2048  EUR 58.569
Raiffeisen-Landesbank T  1.470   5/3/2069  EUR 51.445
Region de Bruxelles-Cap  0.930   5/3/2051  EUR 48.338
Landesbank Hessen-Thuer  0.800  7/30/2035  EUR 65.956
Credit Agricole Corpora  1.000  5/10/2036  EUR 66.184
Muenchener Hypothekenba  1.300   5/7/2061  EUR 54.434
UBS AG/London           13.000   5/6/2024  USD 57.930
Norddeutsche Landesbank  1.450  5/10/2039  EUR 61.697
Region Centre            0.725 12/12/2039  EUR 63.198
Autonomous Community of  1.550  5/11/2051  EUR 55.025
Region Centre            0.822  5/12/2041  EUR 58.978
Region Centre            0.834  5/12/2042  EUR 57.397
Autonomous Community of  1.250 10/31/2040  EUR 63.747
Landesbank Baden-Wuertt  4.100  6/27/2025  EUR 70.020
Vontobel Financial Prod 24.000  9/22/2023  EUR 74.030
Vontobel Financial Prod 24.500  9/22/2023  EUR 68.610
Vontobel Financial Prod 23.000  9/22/2023  EUR 71.880
Vontobel Financial Prod 10.000  9/22/2023  EUR 58.620
Vontobel Financial Prod 11.500  9/22/2023  EUR 71.110
Vontobel Financial Prod 18.000  9/22/2023  EUR 54.690
Bank Julius Baer & Co L 17.200  2/16/2024  CHF 66.400
Vontobel Financial Prod 20.000  9/22/2023  EUR 67.570
Vontobel Financial Prod 19.500  9/22/2023  EUR 59.600
Vontobel Financial Prod 15.500  9/22/2023  EUR 64.870
Vontobel Financial Prod 14.500  9/22/2023  EUR 66.870
Vontobel Financial Prod 13.500  9/22/2023  EUR 69.020
Vontobel Financial Prod 12.500  9/22/2023  EUR 71.270
HSBC Trinkaus & Burkhar 10.200 12/22/2023  EUR 73.370
HSBC Trinkaus & Burkhar 21.900  9/22/2023  EUR 62.560
HSBC Trinkaus & Burkhar  6.000 12/22/2023  EUR 38.420
Bank of Ireland Mortgag  1.574  3/31/2043  EUR 71.540
SG Issuer SA             8.700  1/20/2025  SEK 62.660
Natixis SA               4.510  4/12/2043  AUD 72.429
Raiffeisen-Landesbank S  1.922  4/19/2058  EUR 67.969
BPCE SFH SA              1.512  4/20/2043  EUR 69.496
Muenchener Hypothekenba  1.463  4/23/2041  EUR 72.145
Societe Generale SA      1.624  4/19/2035  EUR 74.680
BNG Bank NV              1.880  4/24/2048  EUR 71.576
Nederlandse Waterschaps  1.860  4/27/2048  EUR 73.705
BNG Bank NV              1.920  2/12/2048  EUR 73.173
UBS AG/London           13.750 12/11/2023  CHF 18.060
Caisse Francaise de Fin  1.668  2/23/2043  EUR 72.142
Swedbank Hypotek AB      1.669  2/27/2043  EUR 72.564
Bayerische Landesbank    0.520 11/26/2031  EUR 73.337
Zurcher Kantonalbank Fi 15.260  3/20/2024  CHF 64.700
Credit Suisse AG/London 15.250  3/20/2024  CHF 50.080
Credit Suisse AG/London 16.000  9/20/2023  CHF 42.670
Landesbank Baden-Wuertt  2.800 11/24/2023  EUR 74.920
Landesbank Hessen-Thuer  0.560  6/16/2031  EUR 73.441
Sovcombank Leasing OOO   9.250  5/19/2025  RUB 65.000
Leonteq Securities AG/G  5.200 11/29/2023  CHF 60.550
Leonteq Securities AG    7.800 11/29/2023  CHF 64.430
Leonteq Securities AG/G 10.000 11/29/2023  EUR 43.470
Raiffeisen Schweiz Geno  7.000 11/29/2023  CHF 58.030
Bank Vontobel AG         9.000 11/20/2023  EUR 69.500
Bank Vontobel AG         8.000 11/27/2023  EUR 31.900
Wirtschafts- und Infras  0.450  12/1/2038  EUR 64.567
Credit Suisse AG/London 16.500  3/22/2024  CHF 72.460
Landesbank Baden-Wuertt  3.250   1/2/2026  EUR 63.730
UBS AG/London            6.750  12/1/2023  CHF 63.700
UBS AG/London            7.750  12/1/2023  CHF 69.600
UBS AG/London            6.500  12/1/2023  CHF 62.550
UBS AG/London            7.250  12/1/2023  CHF 62.950
MET Hungary Solar Park   3.800  12/2/2031  HUF 74.100
Landesbank Hessen-Thuer  1.170  12/8/2036  EUR 66.814
Norddeutsche Landesbank  1.050  1/13/2037  EUR 62.731
Leonteq Securities AG/G 26.000 10/31/2023  CHF 28.240
UBS AG/London           16.500 10/26/2023  CHF 24.520
Vontobel Financial Prod  8.250  3/22/2024  EUR 63.345
DZ Bank AG Deutsche Zen  0.840 10/27/2031  EUR 73.970
DekaBank Deutsche Giroz  3.000 11/24/2025  EUR 66.500
DekaBank Deutsche Giroz  2.100 11/22/2024  EUR 67.620
DekaBank Deutsche Giroz  3.600 11/24/2023  EUR 70.550
Landesbank Baden-Wuertt  3.150 10/23/2026  EUR 73.260
Societe Generale SA      3.110 10/28/2041  AUD 54.342
Region Centre            0.924  11/2/2043  EUR 59.111
Landesbank Hessen-Thuer  0.750 10/27/2031  EUR 72.707
Region Centre            0.755  11/2/2037  EUR 65.480
Raiffeisen Schweiz Geno  8.700 10/25/2023  CHF 42.430
Republic of Ireland Int  1.210 10/27/2111  EUR 42.343
Landesbank Hessen-Thuer  0.650  4/28/2031  EUR 73.668
Caisse Francaise de Fin  1.699  1/18/2044  EUR 70.752
Corner Banca SA         22.000  9/19/2023  EUR 36.950
Lloyds Bank PLC          2.450   2/1/2049  EUR 63.837
UBS AG/London           16.000  9/14/2023  CHF 37.400
Bank Vontobel AG        13.000  3/18/2024  CHF 28.200
Bank Vontobel AG        16.500 12/18/2023  CHF 42.100
UniCredit Bank AG        6.600 11/18/2024  EUR 73.560
Landesbank Hessen-Thuer  2.000 11/25/2036  EUR 63.300
Communaute Francaise de  1.617   2/7/2039  EUR 71.357
Swedbank Hypotek AB      1.292  2/11/2037  EUR 74.480
Natixis SA               3.080 10/25/2036  AUD 66.621
NRW Bank                 1.085 10/26/2041  EUR 68.228
UBS AG/London           17.500 10/26/2023  CHF 42.000
SG Issuer SA             3.000 10/10/2034  ZAR 44.145
Landesbank Hessen-Thuer  0.750 11/24/2031  EUR 72.468
Norddeutsche Landesbank  0.750   7/1/2031  EUR 74.540
Banque Internationale a  6.200 11/25/2024  CHF 73.870
DekaBank Deutsche Giroz  3.400  7/19/2024  EUR 37.520
UBS AG/London            6.750 11/24/2023  CHF 61.450
UBS AG/London            5.250 11/24/2023  CHF 69.800
UBS AG/London            6.750 11/24/2023  CHF 56.450
UBS AG/London            6.750 11/24/2023  CHF 62.350
Leonteq Securities AG/G 23.000  3/27/2024  CHF 56.980
NRW Bank                 1.100 11/26/2041  EUR 68.670
Landesbank Hessen-Thuer  0.600 11/29/2030  EUR 74.752
Leonteq Securities AG/G  5.000 11/29/2023  CHF 70.910
Landesbank Hessen-Thuer  0.700   1/6/2032  EUR 74.437
Leonteq Securities AG    7.800 11/29/2023  CHF 61.440
Leonteq Securities AG/G  6.000 11/29/2023  USD 70.550
Raiffeisen Schweiz Geno  6.600 11/29/2023  CHF 64.350
Bank Vontobel AG         5.250  5/28/2024  CHF 60.900
Raiffeisen Schweiz Geno  5.500 11/29/2023  CHF 70.850
Raiffeisen Schweiz Geno  6.000 11/29/2023  CHF 60.580
Bayerische Landesbank    0.760  12/1/2031  EUR 74.928
Raiffeisen Schweiz Geno  3.550 11/29/2023  CHF 61.480
Citigroup Global Market  1.250  11/2/2036  EUR 66.049
HYPO NOE Landesbank fue  1.810  1/16/2034  EUR 74.502
Bank Vontobel AG        25.500   4/3/2024  CHF 58.200
UniCredit Bank AG       10.200  3/22/2024  EUR 74.640
UniCredit Bank AG       12.500  3/22/2024  EUR 70.880
Nederlandse Waterschaps  1.790  1/29/2049  EUR 72.032
Citigroup Global Market  1.180 12/23/2036  EUR 65.404
Single Platform Investm  1.340  6/20/2041  EUR 64.910
Landesbank Hessen-Thuer  1.510   4/3/2036  EUR 71.508
Raiffeisen Switzerland  15.870   9/5/2023  EUR 55.240
DZ Bank AG Deutsche Zen 18.900  3/22/2024  EUR 67.670
Credit Suisse AG/London 20.000  9/14/2023  CHF 40.060
BNP Paribas Emissions-  27.000  9/21/2023  EUR 71.940
Leonteq Securities AG/G 28.200 10/27/2023  CHF 39.920
Raiffeisen Switzerland  15.000  3/20/2024  CHF 66.830
DZ Bank AG Deutsche Zen 17.700  9/22/2023  EUR 70.850
DZ Bank AG Deutsche Zen 21.600 12/22/2023  EUR 74.010
BNP Paribas Emissions-  28.000  9/21/2023  EUR 68.500
BNP Paribas Emissions-  24.000  9/21/2023  EUR 71.770
BNP Paribas Emissions-  25.000 12/21/2023  EUR 73.650
BNP Paribas Emissions-  27.000 12/21/2023  EUR 71.240
Raiffeisen Switzerland  20.000  3/20/2024  CHF 66.430
Leonteq Securities AG/G  7.000 10/28/2024  CHF 73.930
Swissquote Bank SA      28.000 10/31/2023  CHF 28.210
SG Issuer SA             2.700 11/28/2034  ZAR 42.007
SG Issuer SA             3.300  9/26/2034  ZAR 46.029
Caisse Francaise de Fin  2.010  1/18/2049  EUR 72.701
HYPO NOE Landesbank fue  2.200  1/21/2044  EUR 65.274
UniCredit Bank AG       11.300  3/22/2024  EUR 72.640
UniCredit Bank AG       13.900  3/22/2024  EUR 69.430
Akademiska Hus AB        1.664  1/11/2045  EUR 74.528
DZ Bank AG Deutsche Zen 22.900  3/22/2024  EUR 64.710
Vontobel Financial Prod 17.000  6/28/2024  EUR 72.180
Vontobel Financial Prod 19.500  6/28/2024  EUR 69.490
DZ Bank AG Deutsche Zen  9.400  9/22/2023  EUR 68.090
DZ Bank AG Deutsche Zen 11.100  9/22/2023  EUR 29.150
DZ Bank AG Deutsche Zen 23.300  9/22/2023  EUR 69.610
DZ Bank AG Deutsche Zen 24.000  9/22/2023  EUR 37.490
Vontobel Financial Prod 20.500  9/22/2023  EUR 57.830
Vontobel Financial Prod 16.500  9/22/2023  EUR 63.400
Vontobel Financial Prod 19.500  9/22/2023  EUR 59.120
Vontobel Financial Prod 18.500  9/22/2023  EUR 60.470
Vontobel Financial Prod 12.500  9/22/2023  EUR 70.250
Vontobel Financial Prod 18.500  9/22/2023  EUR 74.400
Vontobel Financial Prod 10.500  9/22/2023  EUR 68.040
Norddeutsche Landesbank  0.450  5/14/2031  EUR 73.069
Landesbank Baden-Wuertt  0.350   4/8/2037  EUR 74.345
Societe Generale SA      2.970  4/15/2036  USD 65.018
Vontobel Financial Prod 17.000  9/22/2023  EUR 68.440
Vontobel Financial Prod 14.500  9/22/2023  EUR 73.060
Landesbank Hessen-Thuer  0.510  3/10/2032  EUR 72.293
Landesbank Hessen-Thuer  0.510  3/10/2032  EUR 72.293
National Grid Electrici  2.020  3/12/2032  AUD 73.770
NRW Bank                 0.591  3/19/2040  EUR 65.584
DZ Bank AG Deutsche Zen 19.200  3/22/2024  EUR 61.090
DZ Bank AG Deutsche Zen 15.500  9/27/2024  EUR 66.360
DZ Bank AG Deutsche Zen 23.200 12/22/2023  EUR 57.780
Landesbank Hessen-Thuer  0.710  5/12/2034  EUR 66.828
TMK PJSC                 7.350  2/28/2025  RUB 60.150
Credit Agricole Corpora  0.720  5/10/2033  EUR 69.764
Landesbank Hessen-Thuer  1.800   6/9/2036  EUR 63.900
Citigroup Global Market  0.610   5/5/2031  EUR 71.344
Landesbank Hessen-Thuer  0.900  6/10/2036  EUR 64.894
Hypo Vorarlberg Bank AG  0.410   5/6/2031  EUR 70.861
Muenchener Hypothekenba  1.185   5/5/2059  EUR 53.712
SG Issuer SA             0.900   4/7/2036  EUR 61.230
Norddeutsche Landesbank  1.000  6/10/2036  EUR 63.014
Region Wallonne Belgium  1.000  6/22/2045  EUR 55.864
Norddeutsche Landesbank  1.150  6/10/2036  EUR 64.381
Landesbank Hessen-Thuer  0.550  4/20/2033  EUR 69.989
Reneszansz Kofarago zrt  3.200   4/9/2031  HUF 73.000
Landesbank Hessen-Thuer  0.550  4/21/2031  EUR 73.782
Bank Vontobel AG         5.005  10/9/2023  CHF 58.900
Landesbank Baden-Wuertt  3.400  6/27/2025  EUR 71.780
Landesbank Baden-Wuertt  4.200  6/27/2025  EUR 69.640
Kreditanstalt fuer Wied  1.143  4/15/2050  EUR 62.018
LP Portfolio Vagyonkeze  2.800 11/30/2030  HUF 67.000
DZ Bank AG Deutsche Zen 16.900  6/28/2024  EUR 64.070
Bayerische Landesbank    0.360   4/9/2031  EUR 73.698
Bayerische Landesbank    0.490   4/9/2035  EUR 65.517
Bayerische Landesbank    0.430   4/8/2033  EUR 69.531
Banque Internationale a  1.020  3/25/2040  EUR 55.589
Landesbank Hessen-Thuer  1.000  3/20/2035  EUR 64.350
Leonteq Securities AG/G 21.000  5/22/2024  USD 68.020
Agence Francaise de Dev  1.900 11/16/2048  EUR 70.322
Region de Bruxelles-Cap  0.950   5/7/2049  EUR 50.740
Raiffeisenlandesbank Ob  0.632  5/26/2031  EUR 71.131
TransKomplektHolding JS  9.500  11/2/2028  RUB 60.100
Citigroup Global Market  1.010  6/18/2034  EUR 69.297
Citigroup Global Market  2.650  3/17/2040  USD 66.825
Landesbank Baden-Wuertt  3.500 12/22/2023  EUR 64.800
Natixis SA               2.700  5/25/2036  USD 71.461
Natixis SA               2.710  5/26/2036  USD 71.543
Leonteq Securities AG/G  6.000 11/27/2023  CHF 44.180
Leonteq Securities AG/G 24.200   9/8/2023  CHF 36.540
Agence Francaise de Dev  1.815 11/15/2044  EUR 72.158
Landesbank Baden-Wuertt  2.500 12/22/2023  EUR 73.640
Akademiska Hus AB        2.185 11/21/2038  SEK 74.456
Landesbank Baden-Wuertt  3.150  6/26/2026  EUR 70.840
Corner Banca SA          7.600   9/6/2023  EUR 71.370
Vontobel Financial Prod 20.000  9/22/2023  EUR 71.770
Vontobel Financial Prod 18.500  9/22/2023  EUR 74.190
Vontobel Financial Prod 16.000  9/22/2023  EUR 70.510
Vontobel Financial Prod 15.000  9/22/2023  EUR 72.500
Vontobel Financial Prod 17.000  9/22/2023  EUR 68.600
Caisse des Depots et Co  1.438  5/24/2051  EUR 57.545
Landesbank Baden-Wuertt  0.530   6/1/2032  EUR 71.855
Landesbank Baden-Wuertt  0.650   6/1/2034  EUR 68.059
Single Platform Investm  1.170   7/8/2034  EUR 73.496
Raiffeisen Schweiz Geno  6.500 11/17/2023  CHF 62.270
Republic of Ireland Int  1.180  5/25/2087  EUR 46.707
Erste Group Bank AG      1.310  2/23/2035  EUR 66.111
Erste Group Bank AG      1.360  2/23/2036  EUR 63.982
SG Issuer SA             0.300  2/16/2032  EUR 32.800
Citigroup Global Market  3.900  2/18/2042  AUD 69.094
Banque Internationale a  6.000 11/30/2023  CHF 69.880
Wirtschafts- und Infras  0.500  12/1/2038  EUR 65.804
Slovenska Sporitelna AS  4.490             EUR 63.700
UBS AG/London            5.250  12/1/2023  EUR 74.850
UBS AG/London            5.250  12/1/2023  CHF 71.750
Landesbank Hessen-Thuer  1.000  1/13/2037  EUR 65.061
SG Issuer SA             2.100  8/23/2033  EUR 18.110
Norddeutsche Landesbank  1.200  1/13/2037  EUR 64.091
Norddeutsche Landesbank  0.650  1/12/2032  EUR 72.669
Centre Hospitalier Univ  0.490  12/1/2036  EUR 67.386
NRW Bank                 0.765 12/10/2036  EUR 71.879
Single Platform Investm  1.050  6/25/2044  EUR 60.541
Landesbank Hessen-Thuer  1.400  1/13/2037  EUR 65.200
Landesbank Baden-Wuertt  3.100  2/26/2027  EUR 70.430
UBS AG/London           16.000  3/11/2024  CHF 34.400
UBS AG/London           12.250  3/11/2024  EUR 55.450
Landshypotek Bank AB     1.815  2/25/2041  SEK 69.832
Societe Generale SA      3.050 11/23/2031  AUD 73.457
Landesbank Hessen-Thuer  0.700  1/12/2037  EUR 65.900
UBS AG/London            8.000 11/24/2023  CHF 62.550
UBS AG/London            7.000 11/24/2023  CHF 61.100
UBS AG/London            6.500 11/24/2023  CHF 61.050
UBS AG/London            8.000 11/24/2023  CHF 73.000
Leonteq Securities AG/G 25.000  3/27/2024  CHF 58.330
UBS AG/London            8.750  3/11/2024  USD 69.000
Leonteq Securities AG/G 25.000  9/12/2023  CHF 37.060
Leonteq Securities AG/G 17.000  9/19/2023  CHF 38.850
Muenchener Hypothekenba  1.543 11/16/2048  EUR 66.950
Natixis SA               2.700  5/21/2036  USD 71.328
DNB Boligkreditt AS      1.480 12/22/2042  EUR 69.919
SNCF Reseau              2.029  1/22/2048  EUR 69.940
SG Issuer SA             9.180  1/20/2025  SEK 63.270
Vontobel Financial Prod 12.750  3/22/2024  EUR 66.690
SG Issuer SA             7.600  1/20/2025  SEK 62.580
Communaute Francaise de  1.976   2/5/2048  EUR 69.491
DNB Boligkreditt AS      1.634  2/13/2043  EUR 71.766
Deutsche Apotheker-und   1.715  2/13/2037  EUR 71.183
Communaute Francaise de  1.940  2/19/2048  EUR 68.911
Communaute Francaise de  1.930  1/15/2048  EUR 68.834
Caisse des Depots et Co  1.930  1/22/2048  EUR 67.663
Communaute Francaise de  1.660  1/22/2038  EUR 74.876
Raiffeisenverband Salzb  1.500   2/1/2038  EUR 74.425
Raiffeisenverband Salzb  1.617  1/29/2048  EUR 66.214
DNB Boligkreditt AS      1.594  1/29/2043  EUR 72.169
BNG Bank NV              1.750   2/2/2043  EUR 74.604
Hemso Fastighets AB      2.000  2/15/2033  EUR 72.342
Leonteq Securities AG/G  7.000   6/7/2024  CHF 74.990
Communaute Francaise de  1.652  1/26/2038  EUR 73.165
Bank Vontobel AG        13.000  8/30/2023  CHF 31.200
Communaute Francaise de  1.674   2/5/2038  EUR 74.970
Nederlandse Waterschaps  1.770 12/23/2047  EUR 74.946
Bayerische Landesbank    1.716   1/8/2037  EUR 73.873
Region de Bruxelles-Cap  1.750  1/17/2048  EUR 66.028
DNB Boligkreditt AS      1.455  1/11/2038  EUR 74.729
Deutsche Apotheker-und   1.616  1/15/2038  EUR 68.630
Leonteq Securities AG/G 27.000  2/16/2024  CHF 52.360
UniCredit Bank AG        9.200  9/22/2023  EUR 71.220
Raiffeisen Switzerland   7.200 11/30/2023  CHF 67.420
Bank Vontobel AG        10.000  9/11/2023  CHF 21.100
Vontobel Financial Prod 18.000  9/22/2023  EUR 66.870
Erste Group Bank AG      1.065  5/17/2041  EUR 50.843
Raiffeisenverband Salzb  1.853   2/5/2049  EUR 69.391
Region de Bruxelles-Cap  1.500  2/15/2039  EUR 73.439
La Banque Postale Home   1.427  2/11/2039  EUR 73.505
Caisse des Depots et Co  1.820   2/7/2049  EUR 65.261
Nederlandse Waterschaps  1.850  2/11/2059  EUR 67.160
BPCE SA                  1.850   2/8/2036  EUR 74.177
BPCE SFH SA              1.500   2/7/2039  EUR 74.597
Raiffeisenlandesbank Ob  0.774 10/29/2031  EUR 70.741
SG Issuer SA             4.500  1/21/2032  EUR 69.050
UniCredit Bank AG        5.150 11/24/2025  EUR 71.910
Landesbank Hessen-Thuer  0.750  12/2/2036  EUR 66.600
Single Platform Investm  3.000  6/21/2047  USD 66.092
Landesbank Baden-Wuertt  0.530 11/10/2031  EUR 73.396
Raiffeisen Schweiz Geno  5.050 10/21/2024  CHF 64.730
Sberbank of Russia PJSC  0.010 10/20/2028  RUB 73.600
Erste Group Bank AG      1.760  2/15/2034  EUR 72.181
Sberbank of Russia PJSC  0.010 10/21/2026  RUB 74.010
Landesbank Hessen-Thuer  0.820 11/15/2034  EUR 68.058
SG Issuer SA             5.000  5/23/2024  EUR 53.070
Agence Francaise de Dev  1.914 11/22/2048  EUR 70.529
Agence Francaise de Dev  1.955 11/21/2053  EUR 68.607
BNG Bank NV              1.885 11/26/2048  EUR 71.247
BNG Bank NV              1.870 11/26/2048  EUR 71.278
Caisse des Depots et Co  1.820 11/26/2048  EUR 66.274
Raiffeisen Landesbank V  1.385 12/14/2037  EUR 74.624
Raiffeisen Landesbank V  1.385 12/14/2037  EUR 74.624
DNB Boligkreditt AS      1.355 12/18/2037  EUR 73.726
Bayerische Landesbank    1.680 12/18/2037  EUR 72.388
Region Centre            2.156   6/2/2042  EUR 74.298
Region Centre            2.162   6/2/2043  EUR 73.284
SG Issuer SA             1.250  2/28/2033  EUR 41.910
DZ Bank AG Deutsche Zen  0.380   2/8/2033  EUR 74.121
DZ Bank AG Deutsche Zen  5.000  9/18/2023  EUR 65.440
Landesbank Baden-Wuertt  7.200  8/23/2024  EUR 35.210
Landesbank Baden-Wuertt  9.200  8/23/2024  EUR 33.050
Vontobel Financial Prod 10.250  9/22/2023  EUR 70.260
Landesbank Baden-Wuertt  6.200 10/27/2023  EUR 72.400
Landesbank Baden-Wuertt  2.500 10/27/2023  EUR 48.700
Landesbank Baden-Wuertt  3.250 10/27/2023  EUR 44.610
Landesbank Baden-Wuertt  5.000 10/27/2023  EUR 53.740
Landesbank Baden-Wuertt  8.200 10/27/2023  EUR 41.920
Landesbank Baden-Wuertt  4.250 10/27/2023  EUR 23.490
Landesbank Baden-Wuertt  6.200 10/27/2023  EUR 20.350
Landesbank Baden-Wuertt  7.600 10/27/2023  EUR 18.800
Landesbank Baden-Wuertt  9.000 10/27/2023  EUR 17.540
Landesbank Baden-Wuertt  7.000 10/27/2023  EUR 69.550
Landesbank Baden-Wuertt  3.000 10/27/2023  EUR 67.940
Landesbank Baden-Wuertt  5.600 10/27/2023  EUR 73.890
Landesbank Baden-Wuertt  6.500 10/27/2023  EUR 39.270
Landesbank Baden-Wuertt  8.000 10/27/2023  EUR 35.680
Landesbank Baden-Wuertt  4.250 10/27/2023  EUR 72.620
Landesbank Baden-Wuertt  3.100 10/27/2023  EUR 66.660
Landesbank Baden-Wuertt  4.700 10/27/2023  EUR 59.360
Landesbank Baden-Wuertt  3.500 10/27/2023  EUR 64.030
Landesbank Baden-Wuertt  3.150 10/27/2023  EUR 69.950
Landesbank Baden-Wuertt  4.800 10/27/2023  EUR 63.080
Landesbank Baden-Wuertt  4.000 10/27/2023  EUR 72.830
Landesbank Baden-Wuertt  6.250 10/27/2023  EUR 61.140
Landesbank Baden-Wuertt  2.250 10/27/2023  EUR 69.220
Landesbank Baden-Wuertt  2.850 10/27/2023  EUR 61.980
Corner Banca SA         10.000  11/1/2023  CHF 64.600
Leonteq Securities AG    9.000  11/1/2023  CHF 72.270
Sberbank of Russia PJSC  0.010  11/2/2026  RUB 72.010
Raiffeisen Schweiz Geno  6.000  11/1/2023  CHF 70.040
Basler Kantonalbank      7.000 11/10/2023  CHF 63.020
Bank Vontobel AG         6.500  10/2/2023  CHF 61.600
UBS AG/London            7.850  11/2/2023  USD 41.150
BNP Paribas SA           1.000  11/5/2036  EUR 65.601
Societe Generale SA      7.500  11/3/2026  USD 15.950
Landesbank Baden-Wuertt  0.610  11/3/2031  EUR 74.122
DekaBank Deutsche Giroz  4.000  11/8/2024  EUR 63.410
Citigroup Global Market  1.010  12/1/2034  EUR 67.782
Sberbank of Russia PJSC  0.010  11/2/2028  RUB 72.100
UBS AG/London            7.250  11/3/2023  CHF 56.900
Citigroup Global Market  1.380  11/4/2041  EUR 60.496
Landesbank Hessen-Thuer  0.730 11/10/2031  EUR 74.916
Natixis SA               3.300  11/4/2036  AUD 68.488
Single Platform Investm  0.363  2/15/2041  EUR 53.247
Region of Pays de la Lo  0.334   3/9/2033  EUR 73.066
Region of Pays de la Lo  0.427   3/9/2034  EUR 71.075
Kuntarahoitus Oyj        0.270   3/3/2034  EUR 73.432
NRW Bank                 0.200   3/1/2034  EUR 72.885
Region of Pays de la Lo  0.449   3/9/2035  EUR 68.661
Societe Generale SA      2.630   3/2/2036  USD 62.747
Landesbank Baden-Wuertt  0.580   3/2/2033  EUR 70.421
Landesbank Baden-Wuertt  0.210  2/26/2031  EUR 71.517
Landesbank Baden-Wuertt  0.460   3/3/2031  EUR 74.496
Barclays Bank PLC        2.560   3/9/2036  USD 67.830
NRW Bank                 1.180   3/3/2051  EUR 62.160
Banque Internationale a  1.300   3/4/2041  EUR 57.065
BNG Bank NV              2.300   3/3/2036  AUD 70.049
Natixis SA               2.800   3/3/2041  USD 67.137
Goldman Sachs Internati  2.200   2/1/2036  USD 65.756
Premium Green PLC        1.050  9/15/2035  EUR 69.562
Landesbank Baden-Wuertt  4.100  6/27/2025  EUR 71.920
Vontobel Financial Prod  5.000  3/26/2024  EUR 49.680
Department of Bouches d  0.561  9/15/2035  EUR 71.018
BPCE SA                  2.320   3/4/2036  USD 63.997
Department of Bouches d  0.558  3/15/2035  EUR 72.209
Landesbank Hessen-Thuer  1.400   3/5/2036  EUR 63.200
Muenchener Hypothekenba  1.000  6/30/2037  EUR 66.969
Societe Generale SA     21.000   4/3/2024  USD  5.630
Landesbank Hessen-Thuer  0.950   4/9/2036  EUR 65.699
Landesbank Hessen-Thuer  0.560  3/12/2031  EUR 74.139
Single Platform Investm  2.395   3/3/2037  NOK 69.581
UniCredit Bank AG        5.300   4/8/2025  EUR 66.810
Sberbank of Russia PJSC  0.010   3/6/2028  RUB 73.300
Credit Agricole Corpora 11.640  3/24/2027  TRY 60.907
Erste Group Bank AG      5.500   8/2/2025  EUR 46.500
UniCredit Bank AG        4.650  7/30/2024  EUR 72.340
UniCredit Bank AG        3.950  7/30/2024  EUR 72.850
Norddeutsche Landesbank  0.925  7/23/2036  EUR 62.080
Landesbank Hessen-Thuer  0.900   8/5/2036  EUR 64.560
Landesbank Baden-Wuertt  2.600  1/26/2024  EUR 63.340
Landesbank Baden-Wuertt  3.000  1/26/2024  EUR 73.910
DZ Bank AG Deutsche Zen  1.510  6/25/2031  EUR 74.720
Region de Bruxelles-Cap  0.761   7/2/2041  EUR 56.550
Region de Bruxelles-Cap  0.796   7/2/2042  EUR 57.541
Region de Bruxelles-Cap  0.829   7/2/2043  EUR 56.328
DZ Bank AG Deutsche Zen  0.390   7/2/2031  EUR 71.157
BNP Paribas SA           0.720   7/1/2031  EUR 74.453
Leonteq Securities AG/G  6.000   1/9/2024  CHF 49.080
Norddeutsche Landesbank  0.500  7/28/2031  EUR 72.709
Landesbank Hessen-Thuer  1.750   8/4/2036  EUR 63.400
Norddeutsche Landesbank  0.700   8/3/2033  EUR 67.794
Norddeutsche Landesbank  0.950   8/3/2033  EUR 69.668
Banque Internationale a  1.600   7/7/2036  EUR 71.291
Region de Bruxelles-Cap  1.029  1/14/2048  EUR 53.310
Single Platform Investm  1.500  3/20/2051  EUR 60.503
Landesbank Baden-Wuertt  3.300  7/25/2025  EUR 71.060
Norddeutsche Landesbank  1.390   7/9/2038  EUR 62.306
Landesbank Hessen-Thuer  0.520  7/14/2031  EUR 72.969
Region de Bruxelles-Cap  1.310 12/15/2069  EUR 41.824
Vontobel Financial Prod 17.500  9/22/2023  EUR 73.170
Vontobel Financial Prod 25.000  9/22/2023  EUR 71.440
Vontobel Financial Prod 15.000  9/22/2023  EUR 69.020
Vontobel Financial Prod 18.500  9/22/2023  EUR 70.780
Vontobel Financial Prod  9.000  9/22/2023  EUR 69.860
Vontobel Financial Prod 14.000  9/22/2023  EUR 57.000
Vontobel Financial Prod 18.500  9/22/2023  EUR 63.140
Vontobel Financial Prod 12.500  9/22/2023  EUR 73.820
Vontobel Financial Prod 17.500  9/22/2023  EUR 55.530
Vontobel Financial Prod 13.500  9/22/2023  EUR 70.760
Vontobel Financial Prod 12.000  9/22/2023  EUR 72.610
Vontobel Financial Prod 15.000  9/22/2023  EUR 69.100
Vontobel Financial Prod 12.500  9/22/2023  EUR 71.650
Single Platform Investm  2.250  2/15/2044  EUR 74.994
Vontobel Financial Prod 21.000  9/22/2023  EUR 70.670
Vontobel Financial Prod 13.000  9/22/2023  EUR 60.500
UBS AG/London           19.000  7/15/2024  CHF 70.900
Landesbank Baden-Wuertt  9.300  5/24/2024  EUR 73.330
DZ Bank AG Deutsche Zen  7.250 12/20/2023  EUR 59.710
Landesbank Baden-Wuertt  3.000  2/27/2026  EUR 61.590
DZ Bank AG Deutsche Zen  1.250  2/23/2037  EUR 67.450
Bank Vontobel AG        10.750  2/12/2024  CHF 61.200
UBS AG/London            8.250   9/4/2023  CHF 47.850
Raiffeisenlandesbank Ob  1.480  2/17/2042  EUR 69.753
Landesbank Baden-Wuertt  7.200  6/28/2024  EUR 74.580
Luzerner Kantonalbank A  3.600   7/6/2026  EUR 56.430
Landesbank Hessen-Thuer  1.500 12/16/2036  EUR 66.600
UBS AG/London            7.250 11/10/2023  CHF 55.600
UBS AG/London            8.500 11/10/2023  CHF 10.920
Raiffeisen Switzerland   8.200  11/8/2023  EUR 68.730
Landesbank Baden-Wuertt  3.000 11/28/2025  EUR 71.930
Metropolis of Grenoble-  0.700 11/18/2033  EUR 74.936
Citigroup Global Market  1.370  7/27/2051  EUR 52.852
Societe Generale SA      5.500   8/1/2024  USD 47.400
Landesbank Hessen-Thuer  0.900   8/4/2036  EUR 64.526
Natixis SA               2.930  7/29/2051  AUD 49.745
Citigroup Global Market  0.660  8/25/2033  EUR 67.823
Norddeutsche Landesbank  0.550  8/30/2033  EUR 66.410
Ville de Paris           0.921  5/26/2053  EUR 47.704
Vontobel Financial Prod 18.500  9/22/2023  EUR 68.680
Vontobel Financial Prod 19.500  9/22/2023  EUR 66.960
Vontobel Financial Prod 16.500  9/22/2023  EUR 72.590
Vontobel Financial Prod 17.500  9/22/2023  EUR 70.600
UniCredit Bank AG       16.550  8/18/2025  USD 55.430
Swissquote Bank SA      23.600  9/26/2023  CHF 41.280
AlphaNotes ETP Dac       1.000  9/15/2032  USD 65.709
Bank Vontobel AG         7.500  10/2/2023  CHF 49.600
UBS AG/London           16.000   4/1/2024  USD 70.150
UBS AG/London           16.000  10/2/2023  CHF 43.700
Leonteq Securities AG/G 10.000 10/11/2023  USD 74.720
Nederlandse Waterschaps  1.870  11/8/2057  EUR 70.537
Leonteq Securities AG/G 11.000 10/11/2023  USD 74.620
Nordea Bank Abp          8.260  7/20/2028  SEK 71.050
Leonteq Securities AG/G 25.800  9/29/2023  CHF 36.160
Landesbank Baden-Wuertt  9.250  3/22/2024  EUR 45.020
Landesbank Baden-Wuertt 11.000  3/22/2024  EUR 41.760
Landesbank Baden-Wuertt 12.500  3/22/2024  EUR 39.320
Landesbank Hessen-Thuer  1.200   2/9/2052  EUR 60.279
Wirtschafts- und Infras  0.650   2/8/2039  EUR 67.621
Muenchener Hypothekenba  1.230  2/11/2042  EUR 68.704
Norddeutsche Landesbank  1.250   3/8/2034  EUR 71.144
Caisse des Depots et Co  1.150   2/3/2042  EUR 62.267
Bank Vontobel AG         7.500   2/5/2024  CHF 65.400
Norddeutsche Landesbank  1.300  3/16/2037  EUR 65.118
Landesbank Baden-Wuertt  3.000  2/27/2026  EUR 73.410
Leonteq Securities AG/G  8.000  2/14/2024  CHF 72.960
DZ Bank AG Deutsche Zen  1.030  2/23/2034  EUR 71.340
Landesbank Baden-Wuertt  3.000  2/27/2026  EUR 67.570
Caisse Francaise de Fin  0.865  2/17/2042  EUR 62.716
UBS AG/London            9.500   9/4/2023  CHF 72.150
NRW Bank                 1.341  2/17/2039  EUR 74.931
DZ Bank AG Deutsche Zen 12.400  9/27/2024  EUR 66.570
DZ Bank AG Deutsche Zen 13.300  9/27/2024  EUR 65.850
DZ Bank AG Deutsche Zen 14.200  9/27/2024  EUR 65.180
DZ Bank AG Deutsche Zen 15.100  9/27/2024  EUR 64.570
DZ Bank AG Deutsche Zen 16.000  9/27/2024  EUR 64.080
DZ Bank AG Deutsche Zen 17.000  9/27/2024  EUR 63.750
DZ Bank AG Deutsche Zen 18.000  9/27/2024  EUR 63.480
DZ Bank AG Deutsche Zen  8.800  9/27/2024  EUR 72.840
DZ Bank AG Deutsche Zen  9.400  9/27/2024  EUR 71.230
DZ Bank AG Deutsche Zen 10.100  9/27/2024  EUR 69.870
DZ Bank AG Deutsche Zen 10.800  9/27/2024  EUR 68.590
DZ Bank AG Deutsche Zen 11.600  9/27/2024  EUR 67.560
Bank Julius Baer & Co L 22.300  9/26/2023  CHF 41.350
SG Issuer SA             1.750  4/21/2034  EUR 61.950
Bank Julius Baer & Co L  6.750  8/29/2023  CHF 73.900
Zurcher Kantonalbank Fi  8.500  2/23/2024  CHF 73.710
Region Occitanie         1.282  5/25/2040  EUR 66.148
Landesbank Hessen-Thuer  1.350   4/6/2034  EUR 74.359
Nordea Bank Abp          2.000  3/25/2027  SEK 65.140
BNP Paribas Emissions-   4.320  2/22/2024  EUR 62.150
Erste Group Bank AG      1.650  3/23/2037  EUR 64.276
Landesbank Baden-Wuertt  5.400 12/22/2023  EUR 67.660
Landesbank Baden-Wuertt  3.350 10/27/2023  EUR 68.360
Landesbank Baden-Wuertt  4.700 10/27/2023  EUR 62.100
Landesbank Baden-Wuertt  2.300  2/28/2025  EUR 66.050
Landesbank Baden-Wuertt  2.200  4/28/2025  EUR 67.080
Landesbank Baden-Wuertt  2.100 12/22/2023  EUR 60.250
DekaBank Deutsche Giroz  2.400   9/1/2023  EUR 52.830
DekaBank Deutsche Giroz  2.000  8/30/2024  EUR 62.310
DekaBank Deutsche Giroz  2.400  3/14/2025  EUR 70.830
Landesbank Baden-Wuertt  4.200  3/22/2024  EUR 69.180
Landesbank Baden-Wuertt  3.700  3/22/2024  EUR 70.860
Landesbank Baden-Wuertt  5.250  3/22/2024  EUR 64.390
Landesbank Baden-Wuertt  3.000  3/22/2024  EUR 69.290
Landesbank Baden-Wuertt  4.500  3/22/2024  EUR 71.840
Landesbank Baden-Wuertt  5.600  3/22/2024  EUR 67.890
UBS AG/London            4.000  5/26/2026  SEK 53.450
UBS AG/London            4.000   8/3/2026  SEK 44.090
Leonteq Securities AG/G  6.000   2/7/2024  CHF 55.610
Leonteq Securities AG/G  7.000   2/7/2024  CHF 69.630
DZ Bank AG Deutsche Zen  2.120 12/29/2031  EUR 73.230
Landesbank Baden-Wuertt  0.720  2/25/2032  EUR 74.852
Muenchener Hypothekenba  1.275  2/11/2042  EUR 69.203
Landesbank Hessen-Thuer  1.350  3/16/2037  EUR 68.238
Landesbank Hessen-Thuer  1.150   3/9/2037  EUR 66.334
Ville de Paris           1.165   6/9/2053  EUR 50.236
Norddeutsche Landesbank  1.500  3/16/2037  EUR 66.693
Landesbank Hessen-Thuer  0.730  2/11/2032  EUR 74.897
Landesbank Hessen-Thuer  2.000  3/16/2037  EUR 67.100
DZ Bank AG Deutsche Zen  1.300 12/29/2031  EUR 73.420
Banque Internationale a  1.250  2/18/2041  EUR 56.795
Banque Internationale a  1.000  2/18/2036  EUR 63.078
Credit Agricole CIB Fin  0.500  2/23/2033  EUR 69.764
DZ Bank AG Deutsche Zen  0.230  2/19/2031  EUR 73.152
Caisse des Depots et Co  0.571  2/18/2041  EUR 58.976
Wellis Magyarorszag Ker  3.000  2/26/2031  HUF 67.408
Landesbank Baden-Wuertt  3.200  3/27/2026  EUR 69.770
DZ Bank AG Deutsche Zen  0.240  2/24/2031  EUR 72.994
DZ Bank AG Deutsche Zen  0.500  2/24/2031  EUR 73.676
VTB Bank PJSC            5.000             USD 45.000
DZ Bank AG Deutsche Zen  1.370 12/30/2030  EUR 74.460
Kreditanstalt fuer Wied  0.680  2/23/2051  EUR 53.991
Hamburgische Investitio  0.372  2/22/2041  EUR 61.063
Landesbank Hessen-Thuer  0.300  3/24/2031  EUR 74.450
BNP Paribas SA           0.857  2/22/2036  EUR 63.050
Kuntarahoitus Oyj        0.858  2/22/2051  EUR 61.402
Single Platform Investm  1.000 10/31/2040  EUR 61.496
Wirtschafts- und Infras  0.245  2/25/2036  EUR 68.269
Berlin Hyp AG            1.057  2/21/2059  EUR 52.421
EFG International Finan  4.500  2/26/2024  USD 46.090
Credit Agricole Corpora  2.800  2/23/2041  AUD 61.910
Standard Chartered Bank  2.470  2/24/2036  USD 71.168
DZ Bank AG Deutsche Zen  0.630 12/30/2030  EUR 73.500
Kreditanstalt fuer Wied  0.650  2/24/2041  EUR 64.500
NRW Bank                 0.675  2/25/2041  EUR 64.000
Landesbank Baden-Wuertt  3.000  3/22/2024  EUR 74.050
Landesbank Baden-Wuertt  5.100  3/22/2024  EUR 58.560
NRW Bank                 1.510   3/7/2046  EUR 70.545
UBS AG/London            7.640  4/20/2026  SEK 49.950
Kommunekredit            1.062   9/9/2041  EUR 68.304
Kommunekredit            0.991   3/9/2037  EUR 74.210
Landesbank Hessen-Thuer  2.000  3/10/2037  EUR 69.600
Raiffeisen Schweiz Geno  7.300   3/4/2024  CHF 57.890
DekaBank Deutsche Giroz  4.100   4/2/2026  EUR 73.320
Sberbank of Russia PJSC  0.010  7/24/2028  RUB 72.500
Citigroup Global Market  1.040   8/4/2036  EUR 64.072
Landesbank Baden-Wuertt  2.000  8/22/2025  EUR 71.950
Landesbank Baden-Wuertt  4.000  8/22/2025  EUR 69.450
Landesbank Baden-Wuertt  3.250  8/22/2025  EUR 60.370
Landesbank Saar          0.400  7/28/2031  EUR 73.946
UniCredit Bank AG        4.100   9/1/2025  EUR 74.880
Landesbank Baden-Wuertt  0.600   3/5/2036  EUR 63.710
Landesbank Baden-Wuertt  0.520   3/6/2034  EUR 67.536
Landesbank Baden-Wuertt  0.420   3/5/2032  EUR 71.668
Landesbank Baden-Wuertt  2.500  9/22/2023  EUR 73.480
UBS Group AG             2.370  2/25/2036  USD 67.742
Natixis SA               2.500   3/4/2036  USD 70.373
Region of Pays de la Lo  0.570  3/10/2036  EUR 67.420
Citigroup Global Market  1.000  3/19/2041  EUR 56.142
Citigroup Global Market  0.520  3/19/2033  EUR 67.960
Credit Agricole Corpora  0.310  2/24/2033  EUR 68.288
SG Issuer SA             0.021  6/14/2033  EUR 74.470
DZ Bank AG Deutsche Zen 20.900  3/22/2024  EUR 71.640
Bank Julius Baer & Co L 15.000  8/29/2023  CHF 40.800
Nederlandse Waterschaps  1.500  3/10/2042  EUR 72.246
Vontobel Financial Prod  7.700  8/30/2023  EUR 61.060
Region Occitanie         1.229  5/25/2038  EUR 72.058
Region Occitanie         1.238   3/2/2039  EUR 70.716
Landesbank Baden-Wuertt  4.200 12/22/2023  EUR 72.610
Landesbank Baden-Wuertt  2.400  6/27/2025  EUR 61.260
Landesbank Baden-Wuertt  3.600  2/27/2026  EUR 72.040
DekaBank Deutsche Giroz  2.300  9/20/2024  EUR 59.350
DekaBank Deutsche Giroz  4.150  7/26/2024  EUR 56.710
Norddeutsche Landesbank  0.900  12/8/2031  EUR 74.614
Department of Loiret Fr  0.915 11/23/2043  EUR 58.905
Muenchener Hypothekenba  1.692  11/6/2051  EUR 61.412
Landesbank Hessen-Thuer  1.000 12/10/2036  EUR 65.067
Vontobel Financial Prod  8.400  12/4/2023  EUR 69.020
Bank Vontobel AG         8.500  11/3/2023  CHF 34.200
Leonteq Securities AG/G  6.000  11/8/2023  CHF 63.310
Norddeutsche Landesbank  1.150  12/6/2033  EUR 70.742
Norddeutsche Landesbank  1.250  12/3/2036  EUR 64.715
Republic of Ireland Int  1.100 11/12/2096  EUR 41.628
UBS AG/London            9.500  11/8/2023  USD  9.900
Norddeutsche Landesbank  0.650  12/3/2031  EUR 72.998
UBS AG/London            6.250 11/10/2023  CHF 63.300
UBS AG/London            9.250 11/10/2023  CHF 59.300
Vontobel Financial Prod  4.000 11/30/2023  EUR 64.750
DZ Bank AG Deutsche Zen  0.180  12/7/2032  EUR 72.704
DZ Bank AG Deutsche Zen  0.810 12/30/2030  EUR 73.430
Kreditanstalt fuer Wied  0.880  12/7/2050  EUR 57.073
Region Centre            0.390  12/4/2042  EUR 51.517
DZ Bank AG Deutsche Zen  1.140 12/30/2030  EUR 72.770
DZ Bank AG Deutsche Zen  0.880 12/30/2030  EUR 71.810
Oberoesterreichische La  0.763 12/15/2050  EUR 50.742
Norddeutsche Landesbank  0.825  1/14/2036  EUR 62.141
Aktia Bank Oyj           0.965 12/11/2040  EUR 56.357
Wirtschafts- und Infras  0.170  12/9/2041  EUR 55.243
Kreditanstalt fuer Wied  0.943   6/9/2050  EUR 58.825
Landesbank Hessen-Thuer  0.650  1/14/2036  EUR 63.460
UBS AG/London           14.250  7/12/2024  EUR 71.150
BPCE SA                  1.820  12/4/2030  USD 74.085
DZ Bank AG Deutsche Zen  2.000 12/30/2030  EUR 74.000
Caisse des Depots et Co  1.005  11/5/2050  EUR 50.727
DZ Bank AG Deutsche Zen  0.290  12/2/2030  EUR 74.567
Bayerische Landesbank    0.500  12/2/2030  EUR 73.125
Kreditanstalt fuer Wied  0.830  12/9/2050  EUR 56.693
Societe Generale SA      2.050  12/2/2035  USD 58.692
Pannon Work Szemelyzeti  3.000 10/30/2030  HUF 70.450
Agence France Locale     0.330 12/20/2040  EUR 57.371
Credit Industriel Et Co  2.070  12/4/2035  USD 65.706
Nomura Bank Internation  0.450  12/3/2030  EUR 74.495
Region de Bruxelles-Cap  0.453  12/7/2055  EUR 34.587
Nomura Bank Internation  0.400  12/3/2030  EUR 73.832
SG Issuer SA             1.050 11/20/2025  EUR 12.220
DZ Bank AG Deutsche Zen  0.600  12/4/2035  EUR 62.933
DZ Bank AG Deutsche Zen  0.640  12/7/2035  EUR 63.232
DZ Bank AG Deutsche Zen  0.300  12/9/2030  EUR 74.406
Nordea Bank Abp          2.000 12/29/2025  SEK 51.270
Deutsche Pfandbriefbank  0.320  12/9/2030  EUR 69.192
DZ Bank AG Deutsche Zen  0.350 11/14/2031  EUR 72.499
Ville de Paris           0.650 11/25/2070  EUR 32.657
Single Platform Investm  1.082  3/17/2039  EUR 63.801
Landesbank Hessen-Thuer  0.550 11/26/2030  EUR 74.471
Nederlandse Waterschaps  1.000 11/24/2050  EUR 56.849
Region de Bruxelles-Cap  0.556 12/23/2064  EUR 29.003
Credit Agricole CIB Fin  0.400  12/4/2032  EUR 68.428
Single Platform Investm  1.050  3/17/2039  EUR 63.444
Landeskreditbank Baden-  0.170 12/10/2035  EUR 68.919
Caisse des Depots et Co  0.982  11/6/2050  EUR 50.343
Single Platform Investm  0.720  3/20/2051  EUR 48.261
Raiffeisen Switzerland   3.000 11/28/2023  USD 59.530
LFA Foerderbank Bayern   0.250  9/30/2039  EUR 61.116
Wirtschafts- und Infras  0.200  12/2/2043  EUR 52.127
EFG International Finan  4.900  12/4/2023  USD 50.340
Zurcher Kantonalbank Fi 10.000  7/12/2024  EUR 69.080
Landesbank Baden-Wuertt  5.250  9/22/2023  EUR 68.370
Raiffeisen Schweiz Geno  8.000  12/4/2023  CHF 74.280
Bank Vontobel AG        10.000   3/4/2024  EUR 59.500
Bank Vontobel AG         9.000   3/4/2024  CHF 73.200
Landesbank Hessen-Thuer  1.750  4/14/2037  EUR 72.568
Landesbank Baden-Wuertt  7.250  8/23/2024  EUR 68.260
Landesbank Hessen-Thuer  0.250  1/13/2031  EUR 74.704
Norddeutsche Landesbank  0.740 12/11/2031  EUR 72.928
Norddeutsche Landesbank  0.600  1/14/2031  EUR 74.934
UniCredit Bank AG        5.800  1/12/2024  EUR 28.660
DZ Bank AG Deutsche Zen  0.700 12/30/2030  EUR 74.590
MetMax Europe Zrt        3.000 12/11/2030  HUF 70.900
Single Platform Investm  0.457  2/15/2046  EUR 48.199
Credit Agricole Corpora 11.190  1/15/2026  TRY 67.596
Landesbank Hessen-Thuer  0.750  1/21/2036  EUR 64.319
UniCredit Bank AG        4.000  1/26/2024  EUR 72.500
Credit Agricole CIB Fin  0.390 12/16/2032  EUR 68.247
Kreditanstalt fuer Wied  0.918 10/11/2050  EUR 57.839
Landesbank Hessen-Thuer  0.400  1/21/2031  EUR 74.895
DZ Bank AG Deutsche Zen  0.300 12/30/2030  EUR 73.980
DZ Bank AG Deutsche Zen  0.480 12/30/2030  EUR 74.220
DekaBank Deutsche Giroz  2.000  1/12/2024  EUR 69.580
Credit Agricole Corpora 11.550  1/28/2026  TRY 66.741
Muenchener Hypothekenba  0.420 12/10/2035  EUR 63.195
DZ Bank AG Deutsche Zen  0.250 12/30/2030  EUR 74.061
Barclays Bank PLC        2.070 12/18/2035  USD 62.878
EFG International Finan  4.900 12/15/2023  USD 52.010
Abroncs Kereskedohaz Kf  2.800 12/17/2027  HUF 74.000
Bank Julius Baer & Co L  9.500  9/27/2023  CHF 62.550
UBS AG/London           14.250  9/21/2023  CHF 36.850
Bank Vontobel AG        20.250  9/25/2023  CHF 36.900
Basler Kantonalbank     16.000  9/28/2023  CHF 37.310
SG Issuer SA             0.021   7/7/2033  EUR 65.120
UniCredit Bank AG       16.900  3/22/2024  EUR 70.670
Leonteq Securities AG/G 26.000  4/17/2024  CHF 66.400
Landesbank Hessen-Thuer  1.500 12/10/2036  EUR 65.850
Erste Group Bank AG      6.500  12/1/2026  EUR 69.450
Leonteq Securities AG/G 16.000  9/26/2023  CHF 35.520
UBS AG/London           14.250  9/21/2023  CHF 38.700
DekaBank Deutsche Giroz  2.300   8/9/2024  EUR 70.500
DZ Bank AG Deutsche Zen 17.500  6/28/2024  EUR 69.770
DZ Bank AG Deutsche Zen 24.400 12/22/2023  EUR 63.710
UniCredit Bank AG       19.600  9/22/2023  EUR 66.210
UniCredit Bank AG       19.300 12/22/2023  EUR 67.650
UniCredit Bank AG       15.200  6/28/2024  EUR 73.140
Citigroup Global Market 14.650  7/22/2024  HKD 33.460
Landesbank Baden-Wuertt  0.400  12/1/2031  EUR 73.137
Landesbank Baden-Wuertt  5.000  8/23/2024  EUR 72.760
SG Issuer SA             1.800  8/14/2034  EUR 66.030
Societe Generale Effekt 19.498  1/26/2024  EUR 54.570
Bank Julius Baer & Co L 18.000   2/9/2024  CHF 60.200
Norddeutsche Landesbank  1.000  1/12/2034  EUR 69.263
Leonteq Securities AG/G  6.100  12/6/2023  CHF 65.040
Ville de Paris           0.963  12/6/2051  EUR 49.694
Bank Vontobel AG         5.250  12/1/2023  CHF 72.000
UBS AG/London            0.120  5/25/2040  MXN 14.574
Region Bretagne SCI      0.544  12/7/2036  EUR 66.043
Leonteq Securities AG/G  8.800  12/7/2023  CHF 71.830
UniCredit Bank AG        4.650 12/30/2024  USD 70.500
DekaBank Deutsche Giroz  3.300  1/12/2026  EUR 61.490
Raiffeisen Schweiz Geno  8.200  12/6/2023  CHF 65.930
Raiffeisen Schweiz Geno  4.900  12/6/2023  CHF 65.780
Landesbank Baden-Wuertt  2.300   1/2/2026  EUR 71.850
Norddeutsche Landesbank  0.825  1/14/2032  EUR 73.864
Sberbank of Russia PJSC  0.010 11/27/2026  RUB 74.500
Sberbank of Russia PJSC  0.010  12/7/2026  RUB 71.110
SG Issuer SA             2.100 12/27/2033  EUR 42.980
UBS AG/London            9.500  12/8/2023  USD 51.750
UBS AG/London            7.750  12/8/2023  CHF 59.350
Landesbank Hessen-Thuer  1.500  1/20/2037  EUR 65.700
Region Occitanie         0.786 12/14/2046  EUR 52.800
UBS AG/London            8.500  12/8/2023  EUR 64.550
SG Issuer SA             2.100  12/6/2033  EUR 42.350
Landesbank Baden-Wuertt  0.520   1/7/2032  EUR 73.194
Banque Cantonale Vaudoi  5.400  12/6/2023  CHF  6.940
Corner Banca SA          8.000 12/13/2023  CHF 73.380
Leonteq Securities AG    7.000 12/13/2023  CHF 65.920
Landesbank Hessen-Thuer  0.410 12/17/2030  EUR 74.142
Bank Vontobel AG         5.000 12/11/2023  CHF 64.200
Bank Vontobel AG         7.000 12/11/2023  CHF 68.300
Leonteq Securities AG/G  7.000 12/13/2023  CHF 65.400
Landesbank Hessen-Thuer  1.580 12/16/2036  EUR 66.700
Landesbank Baden-Wuertt  9.250  2/23/2024  EUR 73.400
Landesbank Baden-Wuertt 14.000  2/23/2024  EUR 74.720
UniCredit Bank AG       10.000 12/22/2023  EUR 70.930
UniCredit Bank AG       11.700 12/22/2023  EUR 68.860
UniCredit Bank AG       13.600 12/22/2023  EUR 67.030
UniCredit Bank AG       11.100  9/22/2023  EUR 68.540
UniCredit Bank AG       13.600  9/22/2023  EUR 66.110
UniCredit Bank AG       16.600  9/22/2023  EUR 63.910
UniCredit Bank AG        8.700 12/22/2023  EUR 73.360
Leonteq Securities AG/G 20.000  2/20/2024  CHF 49.340
Leonteq Securities AG/G 21.600  2/20/2024  CHF 49.930
Zurcher Kantonalbank Fi 12.000  2/14/2024  CHF 34.770
UniCredit Bank AG       16.600  9/22/2023  EUR 73.170
UniCredit Bank AG       19.900  9/22/2023  EUR 69.620
UniCredit Bank AG       17.100 12/22/2023  EUR 73.320
DZ Bank AG Deutsche Zen  1.080 12/30/2030  EUR 74.040
Akademiska Hus AB        0.850  2/17/2033  SEK 71.649
Vontobel Financial Prod 18.000  3/22/2024  EUR 61.760
Vontobel Financial Prod 14.000  6/28/2024  EUR 67.490
Vontobel Financial Prod 16.500  6/28/2024  EUR 65.060
UniCredit Bank AG       16.500  9/22/2023  EUR 57.570
UniCredit Bank AG       17.300 12/22/2023  EUR 59.380
UniCredit Bank AG       15.500  3/22/2024  EUR 62.370
UniCredit Bank AG       14.200  6/28/2024  EUR 65.060
UniCredit Bank AG       13.000  6/28/2024  EUR 66.360
UniCredit Bank AG       14.900 12/22/2023  EUR 60.980
UniCredit Bank AG       13.900  3/22/2024  EUR 63.800
UniCredit Bank AG       12.800  9/22/2023  EUR 59.860
DZ Bank AG Deutsche Zen 10.750 12/20/2023  EUR 62.840
Barclays Bank PLC        1.011   2/1/2041  EUR 52.803
Bayerische Landesbank    0.400  7/15/2031  EUR 73.505
DZ Bank AG Deutsche Zen  0.200  10/2/2034  EUR 62.370
Landesbank Hessen-Thuer  1.000   4/9/2035  EUR 66.400
DZ Bank AG Deutsche Zen  0.300  2/12/2032  EUR 70.520
DZ Bank AG Deutsche Zen  1.150  4/30/2035  EUR 68.720
Landesbank Baden-Wuertt  0.820   2/1/2039  EUR 60.308
Norddeutsche Landesbank  1.130  2/10/2039  EUR 58.558
Citigroup Global Market  0.250   2/9/2031  EUR 73.448
Landesbank Baden-Wuertt  0.400   7/2/2031  EUR 73.590
DZ Bank AG Deutsche Zen  1.350 12/30/2030  EUR 73.290
Aktia Bank Oyj           0.690   2/4/2036  EUR 62.880
Kuntarahoitus Oyj        0.040   2/9/2034  EUR 71.564
Landesbank Baden-Wuertt  0.436  9/25/2031  EUR 73.238
NRW Bank                 0.420   2/8/2039  EUR 64.135
Caisse des Depots et Co  0.642  2/12/2041  EUR 57.444
DZ Bank AG Deutsche Zen  0.860 12/30/2030  EUR 74.830
Landesbank Hessen-Thuer  0.500  3/10/2034  EUR 65.561
Vasutvillamosito Kft     3.000   2/3/2031  HUF 65.000
Single Platform Investm  1.013 12/20/2050  EUR 53.558
Single Platform Investm  0.780   3/5/2039  EUR 60.726
DZ Bank AG Deutsche Zen  0.310  2/10/2031  EUR 73.638
Landesbank Baden-Wuertt  0.480  2/26/2032  EUR 72.138
Landesbank Baden-Wuertt  0.570  2/27/2034  EUR 67.993
Landesbank Baden-Wuertt  0.640  2/26/2036  EUR 64.133
Communaute Francaise de  0.782   2/8/2061  EUR 38.776
Kreditanstalt fuer Wied  0.160  2/16/2036  EUR 68.237
NRW Bank                 0.642   2/9/2051  EUR 52.679
Muenchener Hypothekenba  0.335  2/10/2031  EUR 74.552
Region de Bruxelles-Cap  0.650  2/15/2061  EUR 34.155
Caisse des Depots et Co  1.018  2/16/2051  EUR 50.716
Landesbank Hessen-Thuer  1.000  3/17/2036  EUR 62.000
Landesbank Hessen-Thuer  0.750  3/18/2036  EUR 63.959
DZ Bank AG Deutsche Zen  0.600  2/19/2036  EUR 62.413
Landesbank Baden-Wuertt  0.620  2/18/2036  EUR 63.991
Norddeutsche Landesbank  0.525  3/10/2033  EUR 67.558
Norddeutsche Landesbank  0.400  3/11/2031  EUR 73.291
Muenchener Hypothekenba  0.400  8/11/2031  EUR 73.806
Norddeutsche Landesbank  0.650  3/10/2031  EUR 74.801
EFG International Finan  4.500  2/12/2024  USD 47.170
Landesbank Hessen-Thuer  0.600  3/18/2036  EUR 62.578
NRW Bank                 0.729  2/11/2051  EUR 54.219



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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
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